In Turkey the official inflation rate is 20% (more than three times that of the U.S.), the unofficial one is worse and worsening. But when it comes to inflation, is the U.S. becoming like Turkey? Steve Forbes on the recent inflation surges and disturbing similarities between the Central Bank of the Republic of Turkey's and the Federal Reserve's ability to fight inflation.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Alarm bells are ringing over the potential harm caused by Omicron, a new Covid-19 variant. News of the new variant is roiling financial markets and tempting political leaders to impose restrictions, but there are a few things you need to know. Steve Forbes on the market's reaction to the recent news, the hasty moves being made and why we should wait for the facts on the new variant before reacting this time around.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
When inflation runs high, governments look for scapegoats, and, as inflation painfully rises, President Biden and his officials have directed the Federal Trade Commission to investigate rising energy costs. As gas prices soar, is a conspiracy afoot at the pump? Steve Forbes on the toxic practice surrounding the current state of inflation, and who is really to blame for the high prices at the pump.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
"How to keep up with rapidly changing tax policy" In this week's episode we spoke with Tony Nitti, a Partner in RubinBrown's Tax Services Group and Partner-in-Charge of National Tax. Tony is a contributor of tax content to Forbes and a frequent speaker and trainer. We discussed the tax policy outlook, a topic Tony will present at our upcoming Mega Tax conference on December 15. Our conversation took place on November 18, and Tony mentioned there is a lot that could happen legislatively between now and the end of year on Capitol Hill. We covered some of what CPAs might expect to deal with in 2022, properly communicating with clients, advice for tax practitioners and more. Register for the Mega Tax conference here: https://ohiocpa.com/cpe/major-conferences/mega-tax-conference
Contrary to legend, the Pilgrims' first Thanksgiving did not yield a bountiful harvest, but let us give thanks that the Pilgrims embraced free markets and, in success, produced prosperity. Steve Forbes on the lessons to be learned from the Pilgrim's Plymouth Colony economy and the relevance of these lessons to the Biden Administration's current push for a new socialism.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Markets are applauding President Biden's reappointment of Jerome Powell to head the Federal Reserve, but don't break out the champagne yet. Steve Forbes on the Fed's money-printing gimmicks that started well before COVID-19 and on why more inflation will likely be coming in 2022 and 2023.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The Biden Administration is examining the future of U.S. policy on the use of nuclear weapons, a so-called nuclear posture review. Unfortunately, this move could end up in a blunder far worse than the debacle in Afghanistan. Steve Forbes on what Biden's possible change in nuclear weapons policy says to allies and on whether or not such a move will signal U.S. weakness.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The Biden Administration says it wants less cigarette smoking, but its approach is perverse, and the president's new nominee to head the FDA will only magnify this counterproductive approach. From a ban on menthol cigarettes to doubling the federal cigarette tax, Steve Forbes on the ghastly public health mistakes the FDA is making.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Russian strongman Vladimir Putin desires to dominate Europe, and his efforts to undermine NATO won't end well for anyone. Steve Forbes on the U.S.' response to Putin's anti-American maneuvers and on how his dangerous moves in Europe will ultimately pose a real threat to U.S. security.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The Federal Reserve has announced a gradual reduction in its monthly bond-buying program, and what's the plan? To reduce purchases by $15 billion a month, from the current level of $120 billion, to zero by next June. Investors should take note: The Fed's tapering has begun! Steve Fobes on how the Fed has portrayed this so-called tapering and on what investors should watch for as disrupted supply chains and labor shortages linger into next year.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The Biden Justice Department has filed an antitrust suit to block a proposed merger between two book publishers, which is a destructive move. Are Biden antitrusters really worried about books? Steve Forbes on the details behind Biden's antitrust suit actions to block Penguin Random House from buying Simon & Schuster and on why the Administration's move is really about power, not opportunity and prosperity.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Last September President Biden issued an executive order that would force workers in private-sector companies with 100 or more employees to get vaccinated or be tested weekly and to wear face masks, a mandate recently blocked by the Fifth Circuit Court of Appeals. Are vaccine mandates unconstitutional? Steve Forbes on the temporary blocking of Biden's vaccine mandate and on why politics, not public health, is the dominating factor here.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Major League Baseball knows it has a big problem attracting younger fans and keeping many older ones engaged. One telltale sign: Television viewership of the World Series has plummeted 80% since the 1970s. Was last year's the worst World Series ratings of all time? Steve Forbes on two big, game-changing steps the MLB should take that would be grand slams with baseball fans!Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The 2021 calendar is winding down and now is a perfect time to review your individual and business finances ahead of the end of the tax year.On this episode of Mind Your Business, we visit with Jonathan Allen (Allen Wealth Management) and Cara White (Allen CPA) to discuss current national economic and tax trends and how they are impacting businesses and individuals in the High Country. We discuss the potential for action on interest rate adjustments and receive some helpful details about the child tax credit, and indicators you should pay attention to regarding both of these popular topics.We also discuss the recent release of the Boone Area Chamber of Commerce Q3 Economic Indicators report and assess our area's overall economic health heading into the close of 2021.Mind Your Business is produced weekly thanks to a partnership between High Country Radio and Appalachian Commercial Real Estate.Support the show (https://www.boonechamber.com/membership-information)
Clogged ports, serious supply-chain challenges, higher prices and widespread shortages are being painfully felt across the U.S. We need an “Operation Warp Speed” approach to fix the chaos at hand. Steve Forbes on the real reason for the major port backup and on how one mega tweet from Ryan Peterson, CEO of the fast-growing, freight-forwarding outfit Flexport, has already accomplished a minor miracle.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Restoring the SALT deduction would blow a hole in the anticipated revenues from tax increases in Biden's big spending bill, but is there a better solution? Steve Forbes on why a flat tax should be considered but why it's a solution Washington Democrats will foolishly resist. Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
On October 27, ahead of the 2021 United Nations Climate Change Conference in Glasgow (October 31 to November 12), the Urban-Brookings Tax Policy Center and the Brookings Center on Regulation and Markets brought together climate and tax policy experts to examine recent proposals for U.S. energy tax policy. Catherine Wolfram, deputy assistant secretary of climate and energy economics at the U.S. Department of the Treasury, shared her perspective on the Biden administration's climate strategy. Following her keynote, an expert panel consisting of Gilbert Metcalf (Tufts University), Carole Nakhle (Crystol Energy), and Kurt Van Dender (OECD), moderated by Thornton Matheson (Urban-Brookings Tax Policy Center), further discussed the U.S. approach to energy tax policy. Subscribe to Brookings Events on iTunes, send feedback email to firstname.lastname@example.org, and follow us and tweet us at @policypodcasts on Twitter. To learn more about upcoming events, visit our website. Brookings Events is part of the Brookings Podcast Network.
To help finance President Biden's proposed spending binges, congressional Democrats are pushing a bill called the Tobacco Tax Equity Act. This proposed tax law would not only raise tobacco taxes but also result in a chain reaction of undesirable scenarios. Steve Forbes on Biden's tobacco-tax-hike scheme and why this proposed legislation is a big mistake.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
As the Build Back Better bill continues to work its way through Congress, tax policy has quickly taken center stage in the conversation. Hosts Josh and Liam are joined by special guest Bernie Becker, a tax reporter for POLITICO Pro, for a deep dive into the important role that tax policy plays in the legislation.
Despite happy talk from the Federal Reserve earlier this year, pricing pressures are worsening, shortages are growing more acute, voters are angry and President Biden's approval rating is plummeting. But are these higher prices and product shortages a result of bad policies? Steve Forbes on the economic problems at hand and on what should be considered to course-correct the direction in which we are headed.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
How far will congressional Democrats pivot on their approach to raising revenue? Is it too late to pivot at all? In this latest episode, Deloitte Tax Policy leader Jon Traub shares insights on Senator Sinema's stance on not raising corporate and individual tax rates and the many implications that may have on the ultimate tax policies that are passed.
The Biden Administration's tax addicts just got their wish as 136 nations agreed to a new international tax deal that's nothing but bad news for U.S. taxpayers. Steve Forbes on the reality behind this stealth-tax-increase move and on who would be hit the hardest by it.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The German federal election on 26 September 2021 marked the beginning of the end of Angela Merkel's time as German Chancellor, however, the outcome of the election is still unclear. No single party has yet been able to claim leadership of the Bundestag – although negotiations have begun between the Social Democrats, the Greens and the Liberals which could result in the so-called “traffic light” coalition. In our latest podcast, senior knowledge lawyer Alison Dickie speaks to David Issmer, Freshfields' Head of Public Affairs in Germany, and German tax partners David Beutel, Philipp Redeker and Georg Roderburg to discuss the German election results and what the “traffic light” coalition might mean for both global tax policy and the domestic German tax landscape as well as the potential implications for businesses with presence in Germany.
News from the Pacific region is disturbing as China successfully tested a hypersonic missile that can carry nuclear weapons. What does this mean for Taiwan and for the U.S.? Steve Forbes on how the U.S. should respond to China's supersonic missile test and why it should be made clear that we are not merely going to stand by if Taiwan is attacked.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
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The Office of Comptroller of the Currency isn't well known to the public, but this is an immensely powerful regulator supervising 1,200 financial institutions. The Biden Administration's recent nominee to head up such a powerful financial regulatory role is astonishing. Steve Forbes on Biden's radical nomination for the primary bank regulator in the U.S., Saule Omarova, and what you need to know about her. Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
This week on Hubwonk (our debut video & audio edition), Host Joe Selvaggi talks with research analyst Andrew Mikula about the findings from his recent report, A Timely Tax Cut, in which he explored the relationship between state tax rates and policy and the direction of interstate migration. Guest Andrew Mikula is a former Economic […]
The White House and congressional Democratic leaders are pushing a chilling proposal that would destroy all vestiges of your financial privacy. Watch out! Steve Forbes on the IRS' plans to monitor and track every bank account and on why, if this assault is not stopped immediately, everyone will be a target.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The Biden Administration has launched a major attack on our free speech liberties. Are your rights to free speech at risk? Steve Forbes on who the DOJ is targeting and on why federal law enforcement is coming for parents who challenge the policies and practices of local school boards.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
In this week's episode we are taking a deep dive into current legislative developments, specifically the tax-related changes that may be on the horizon. Rohit Kumar, co-leader of PwC's Washington National Tax Services practice, joins host Heather Horn to provide his perspective on anticipated developments. Tax leaders are already scenario planning - we break it down so CFOs can do the same.Topics include:2:12 - What's the lay of the land? Rohit takes us through where things currently stand with negotiations in Washington. Heather and Rohit discuss the infrastructure and reconciliation bills as well as the likelihood of these bills getting signed into law before the end of the year.9:53 - Possible scenarios. Rohit provides a few potential legislative outcomes, touching on the gross spending side of the budget equation as well as revenue raising, such as through changes to the corporate and individual tax rates and credits, among other domestic and international policy alternatives.34:13 - Where should CFOs focus? Rohit and Heather talk about the policy changes CFOs should be focused on - think corporate rate, OECD agreements, and tax based on book income.42:43 - Wrap up and timeline. It's up to Congress now. Rohit expects that we will know in the next month whether politicians will be able to reach an agreement by the end of the year. We close by walking through this timeline.Want to learn more? PwC podcast: Washington explained: Infrastructure, tax reform, and moreRohit Kumar is co-leader of PwC's Washington National Tax Services practice. In this role, he advises clients on all aspects of domestic policy, including tax policy. His insights and knowledge enable companies to assess critical policy issues more effectively and to develop legislative strategies to address those issues from both a technical and a political perspective.Heather Horn is a Deputy Chief Accountant in PwC's National Office and leader of the thought leadership group, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.
As the Federal Reserve, the White House and Congress play with fire regarding future inflation and economic stagnation, there's a lot they can learn from the history of inflation. Steve Forbes on the seemingly forgotten past of former President Ulysses S. Grant and the crucial role he played in enabling the U.S. to become the most significant economic colossus in history. Can the ghost of Ulysses S. Grant save us from an economic catastrophe?Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Government pension funds are in bad shape, and taxpayers could take the hit to make good on the financial shortfalls. Could your taxes be going up? Steve Forbes on the public pension crisis and the fundamental problem with payouts defined by unrealistic political promises, and on what states and municipalities should do differently before the lack of money forces a crisis.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
There's a lot of noise about the calamity the nation will face if Republicans don't go along with raising the debt ceiling. Don't fall for it. Steve Forbes on the hysteria surrounding the U.S. debt ceiling and why it's nothing to lose sleep over.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
President Biden and congressional Democratic leaders ended last week without a vote on two colossal spending bills, recognizing that they had overplayed their hand. So is Biden's radical budget bill in trouble? Steve Forbes on whether Senators Joe Manchin and Kyrsten Sinema can rescue their party from political suicide.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Congress is mulling over an idea to control what credit card issuers can charge merchants when you use your plastic to buy something. This move will empower retailers—not you! Steve Forbes on how Congress' meddling with your credit card fees could cost you and on where instead Congress should direct its attention.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
With the rapid growth of stablecoins, regulators are waking up to its real threat in the crypto world. Cryptocurrencies, watch out! Steve Forbes on the existential challenge to the current ways of banking and facilitating payments and on how the crypto world had better gear up for a long, epic struggle ahead.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Our central bank seriously underestimated the disruptions caused by the pandemic, most recently the impact of the Delta variant. Is inflation a bigger problem than the Fed thinks? Steve Forbes on the political and economic realities that are settling in and on the trouble ahead for the Fed if Congress passes President Biden's blowout spending bill.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Congress is debating a sharp rise in the corporate tax rate, and the Biden Administration claims that these exactions won't affect you, that only big corporations will have to fork over more cash. Don't believe it! Steve Forbes on how Biden's corporate tax hike will hit consumers and, especially, how it will hurt the middle class!Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
PPP loans were our first line of defense when the pandemic was still new. But as that program has shifted, new programs that better serve the unique needs of restaurant owners have taken hold. Economic Injury Disaster Loan Program (EIDL) is a very attractive option in ongoing restaurant recovery efforts. Aaron Frazier, Director of Health Care and Tax Policy at the National Restaurant Association joined us to talk about all things EIDL. Learn more at https://www.restaurant.org/events/learning (https://www.restaurant.org/events/learning). This podcast is not intended to provide medical or legal advice. The podcast listeners are encouraged to do their own research, and where appropriate, obtain the advice or guidance of legal counsel or the input of other experts with respect to their practices and/or applicable laws. Nothing in this podcast shall be deemed to create or grant any rights to any third parties. Listeners are encouraged to consider the applicability and suitability of the information provided for their own individual circumstances, and the National Restaurant Association and its affiliates cannot warrant the applicability of the information to any particular listener or party. Given the rapidly evolving nature of the pandemic, guidance may change as our understanding of unique challenges that COVID-19 poses within each country, state, and locality. If you'd like to receive new episodes as they're published, please subscribe to https://www.restaurant.org/events/learning/podcasts/order-up (Order Up) in https://podcasts.apple.com/us/podcast/order-up/id1511211971 (Apple Podcasts), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9IcFhHRHhqVQ (Google Podcasts), https://open.spotify.com/show/3SOAkud8tkbaLCaU8W4Ne5 (Spotify) or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in https://podcasts.apple.com/us/podcast/order-up/id1511211971 (Apple Podcasts). It really helps others find the show. https://www.dante32.com/ (Podcast episode production by Dante32.)
The FDA recently blew past a court-set deadline for reviewing nicotine vaping products, a move that has left the entire vaping industry in legal limbo. Steve Forbes on vaping versus smoking tobacco, on what the FDA is getting wrong and on how it is prohibiting smokers from employing a relatively safe, highly effective tool to give up a habit that is the leading cause of lung cancer.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
As the legislative process to determine the size and scope of its spending packages plays out in Washington, where do private business owners need to focus in anticipation of increasing tax rates? Wendy Diamond, Deloitte Private US family enterprise leader, joins Jeff Kummer from Deloitte's Tax Policy Group. Together, they walk through the likely progress of the spending legislation currently being debated, the possible tax implications for private business owners, and estate planning.
Helping people to save more for retirement is a popular idea in Congress these days. But, unfortunately, the proposal the House is pushing could end up doing more harm than good. Could your retirement savings be in jeopardy? Steve Forbes on the new tax bill to watch out for, why it could be bad news for retirement and what Congress should consider instead.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The tendencies of our political leaders and public health officials have been counterproductive when it comes to the pandemic, especially regarding vaccines. It's time for them to ditch their toxic and arbitrary ways! Steve Forbes on the pandemic politics to watch out for, and on why it's time for healthcare bureaucracies and Washington politicians to take a more productive approach.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Can the government seize your house, car and cash, even if you've done nothing wrong? Unfortunately, the shocking answer is yes! Steve Forbes on civil asset forfeitures, and on how this process is being grossly abused and why it should be promptly ruled unconstitutional.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
Learn about how to avoid getting dragged down by “Sludge”; how hybrid fruit like plumcots are made; and pirate parlance. Additional resources from Richard Thaler: Pick up "Nudge: The Final Edition" at your local bookstore: https://www.indiebound.org/book/9780143137009 Faculty page: https://www.chicagobooth.edu/faculty/directory/t/richard-h-thaler Twitter: https://twitter.com/r_thaler Nobel Prize page: https://www.nobelprize.org/prizes/economic-sciences/2017/thaler/facts/ How plumcots are made by Ashley Hamer (Listener question from Carmelita in Newton, Massachusetts) Pollination and fertilisation. (2012). Science Learning Hub; Science Learning Hub. https://www.sciencelearn.org.nz/resources/77-pollination-and-fertilisation Siegel, E. (2015, July 12). Are Pluots GMOs? And Other Questions About Hybrid Stone Fruit. Bostonorganics.com; Boston Organics. http://blog.bostonorganics.com/are-pluots-gmos-and-other-questions-about-hybrid-stone-fruit Slate, S. (2010, January 22). The Secrets of Hybrid Fruit. The Daily Beast; The Daily Beast. https://www.thedailybeast.com/the-secrets-of-hybrid-fruit Harbarger, M. (2016, October 3). Here's how your vegetables are made. Oregonlive. https://www.oregonlive.com/food/2016/10/heres_how_your_vegetables_are.html Pluots And Apriums: The Best Of Both Parents. (2009, July). NPR.org. https://www.npr.org/templates/story/story.php?storyId=106098949 Demystifying Pluots, Apriums and Other Stone Fruit Hybrids. (2019). ANR Blogs. https://ucanr.edu/blogs/blogcore/postdetail.cfm?postnum=30722 Apricot pronunciation tweet: https://twitter.com/smashleyhamer/status/1432806938534989835 Difference between pirates, privateers, corsairs, buccaneers by Steffie Drucker Pirates, Privateers, Corsairs, Buccaneers: What's the Difference? | Britannica. (2021). In Encyclopædia Britannica. https://www.britannica.com/story/pirates-privateers-corsairs-buccaneers-whats-the-difference Whitenton, B. (2012, September 20). The Difference Between Pirates, Privateers and Buccaneers Pt. 1. Mariners' Blog. https://blog.marinersmuseum.org/2012/09/the-difference-between-pirates-privateers-and-buccaneers-pt-1/ Whitenton, B. (2012, October 4). The Difference Between Pirates, Privateers and Buccaneers Pt. 2. Mariners' Blog. https://blog.marinersmuseum.org/2012/10/the-difference-between-pirates-privateers-and-buccaneers-pt-2/ The Golden Age of Piracy. (2021). Rmg.co.uk. https://www.rmg.co.uk/stories/topics/golden-age-piracy International Talk Like a Pirate Day: https://en.wikipedia.org/wiki/International_Talk_Like_a_Pirate_Day Follow Curiosity Daily on your favorite podcast app to learn something new every day withCody Gough andAshley Hamer. Still curious? Get exclusive science shows, nature documentaries, and more real-life entertainment on discovery+! Go to https://discoveryplus.com/curiosity to start your 7-day free trial. discovery+ is currently only available for US subscribers. See omnystudio.com/listener for privacy information.
The Federal Reserve is deeply flawed, but the real issues are more far-reaching than Jerome Powell and whether President Biden will reappoint him as head of the Fed. Steve Forbes on the foundationless thinking that dominates this institution and on why a replacement from this White House would be no better but probably worse.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
The government's war against cryptocurrencies just heated up, and the SEC has threatened to sue Coinbase Global, Inc. Will the regulators succeed in crushing it? Steve Forbes on the SEC's move against Coinbase and on what it could mean for the future of cryptocurrencies.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.
It's crucial for President Biden to aggressively fight the escalating cyberattacks from our adversaries, but is he doing enough? Steve Forbes on the importance of stopping international cyber threats and on how Washington should consider strengthening our anticipatory self-defense.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.