tax revenue will fall, expenditures will rise and will have a MASSIVE fiscal hole. The larger the “average” level of government expenditure/gdp, the larger the gap that results when gdp growth (and hence tax revenue growth) drops far below average. The MASSIVE fiscal gap that arises will ...
Unlike other government agencies, the Federal Reserve is not funded from tax dollars. Instead the Fed pays its bills with the interest it collects from Treasurys and other assets on its balance sheet. The Fed's Assets Anything the Federal Reserve buys is an asset. Since the Federal Reserve h...
The Trump administration is unlikely to meet its self-declared August deadline for enacting tax reform, Treasury Secretary Steven T. Mnuchin said Monday. That will make it more difficult for companies to factor any changes into their spending decisions for next year...
Wiki: This phrase can be translated from French to English as: “England is a nation of shopkeepers.” Although the description was often seen as a disparaging one, Napoleon claimed that it was not intended to be so, but was merely a statement of the obvious fact that British...
White House Photo // Wikimedia Commons 1969: Tax Reform Act The Tax Reform Act of 1969 is the first legislation to make the distinction between grant-making and service-providing institutions. It was created to overhaul federal taxes for nonprofit institutions and divided those organizations into ...