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☆ Election tailwinds are good but valuations suggest it's a nearly perfect world: Crossmark's Bob Doll
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElection tailwinds are good but valuations suggest it's a nearly perfect world: Crossmark's Bob DollBob Doll, Crossmark Global Investments CIO, and Ernie Tedeschi, Yale Budget Lab director of economics, join 'Squawk on the Street' to discuss if there's a risk the economy gets too hot, if equity markets have the green light to move higher, and more.

Persons: Bob Doll Bob Doll, Ernie Tedeschi Organizations: Global Investments CIO, Yale Budget Lab

☆ What a Trump or Harris presidency would mean for your tax bill
▼ + stars: | 2024-10-31 | by ( Juliana Kaplan | Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Trump's plans could mean tax hikes for lower earners; Harris' proposals would target higher earners. This is the fourth in a five-part series about the impacts either a Trump or a Harris presidency could have on US consumers. Trump has proposed extending his slew of tax cuts from the Tax Cuts and Jobs Act of 2017 — also known as the "Trump tax cut." But another part of Trump's tax policy — his plan to levy universal tariffs on all US imports — could end up undercutting this positive impact. AdvertisementTrump has floated lifting the $10,000 cap on the State and Local Tax deduction, known as SALT, from his 2017 tax bill.

Persons: Trump's, Harris, —, you'll, Trump, He's, Garrett Watson, Harris hasn't, she's, Benjamin Page, Biden, Walz, Ernie Tedeschi, Watson, Tedeschi Organizations: Service, Business, Trump, Social Security, Taxation, Economic, Tax Foundation, State and, Urban, Brookings Tax, Yale Budget Lab, White House Council, Economic Advisers, Finance Locations: California , New Jersey, New York, Congress

☆ The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says
▼ + stars: | 2024-10-09 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

With the economy top of mind for many voters, tax policy will be significant in the election. Trump's proposals include eliminating taxes on tips and overtime, extending the 2017 tax cuts for individuals, implementing higher tariffs on imported goods, and reducing the corporate tax rate. Meanwhile, the Tax Policy Center has found that the policies would bring down post-tax incomes by $1,800 in 2025. Joe Hughes, a senior analyst on federal tax policy at ITEP, previously told BI that high-wage workers could take advantage of Trump's proposals to make more money. Ultimately, though, any tax proposals would need buy-in from the House and Senate.

Persons: Donald Trump, —, everybody's, ITEP, Ernie Tedeschi, Trump's, Matthew Gardner, Gardner, Trump, Casey B, Mulligan, Joe Hughes, Hughes, Brian Hughes Organizations: Service, Taxation, Yale Budget Lab, White House Council, Economic Advisers, IRS, American Progress, Trump, Policy Institute, Washington Post, Trump campaign's, Democratic, Senate Locations: ITEP

Housing is one of many issues Vance, the Republican nominee, believes are rooted in the arrival of undocumented migrants in America. But many economists caution that connecting rising numbers of immigrants to housing costs is no simple thing. Other economists have noted links between immigrants and increased housing costs. Vance later shared two studies on housing and immigration that showed a link between increased immigration and rising housing costs — though each offered various caveats, including noting that the impact changes over time. Indeed, Zillow data shows a clear upward trend in Springfield rents this year compared with 2023.

Persons: America’s, Sen, JD Vance, Tim Walz, Vance, you’ve, ” Vance, Donald Trump, Walz, ”, ” Walz, Kamala Harris, Ernie Tedeschi, Joe Biden, Vance’s, Michelle Bowman, Chris Herbert, Herbert, Sharon Cornelissen, Bryan Heck, Democratic Sen, Sherrod Brown, Heck, ” Heck Organizations: Minnesota Gov, Republican, CBS, Democratic, NBC, White House, Federal, Cato Institute, Harvard University’s, for Housing Studies, Consumer Federation of America, NBC Boston Locations: Ohio, America, Springfield , Ohio, U.S, New York City, Los Angeles, Dearborn, Hamtramck, Detroit, Brockton , Massachusetts, Haiti, Cape Verde, Central, South America, Springfield, Washington

☆ Rate cuts are a double edged sword for Kamala Harris
▼ + stars: | 2024-09-19 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +6 min

As former President Donald Trump insists that the rate cut was fueled by partisan politics, Harris has to thread the needle with her rhetoric, experts told Business Insider. Celebrate the rate cut and she risks fueling Trump's narrative; ignore the rate cut and she doesn't get to claim a desperately needed economic victory. "This is a double edged one for Harris," Mark Blyth, a political economist at Brown University, said. Advertisement"On the other hand, Vice President Harris is running to be president of the same economy that the Federal Reserve is managing," Tedeschi told Business Insider. But Blyth remains skeptical that the rate cut will have a lasting impact in an election that's been defined by volatility.

Persons: Kamala Harris, Donald Trump, Harris, doesn't, Mark Blyth, Joe Biden's, Ernie Tedeschi, Mike Johnson, Tedeschi, Powell, Trump, Blyth, people's, they've, Danny Hayes, Thursday Harris, Dow Organizations: Service, Federal Reserve, Brown University, Yale Budget, Republicans, Wall Street Journal, Trump, Blyth, George Washington University, Business

☆ Neither Trump nor Harris really gave us much detail about how they will fix the economy in the debate
▼ + stars: | 2024-09-11 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Though the debate opened with a discussion about the economy, the conversation quickly devolved into platitudes, boasts, and personal jabs. Industry leaders told Business Insider that they hoped to hear the candidates discuss crypto guidelines, regulation, and key appointments on Tuesday night, but little was said about any of those topics. "What we really need is either a debate or a whole section of a debate devoted to economic issues," Tedeschi said. Tedeschi told Business Insider that we need clarity about Trump's proposed tariffs, which are the "most consequential and radical thing that he's proposed." Chris Larsen, the billionaire co-founder of blockchain payments company Ripple, told Business Insider that Harris was "spectacular."

Persons: —, Kamala Harris, Donald Trump sparred, Ernie Tedeschi, Tedeschi, Harris, Trump, Paul Donovan, Mark Penn, Clinton, Aaron Levie, Chris Larsen, Crypto, there's, Larsen, Bradley Tusk Organizations: Service, Industry, Business, Yale Budget Lab, UBS Global Wealth Management, New York Times, Federal, Federal Trade Commission, Others, Trump, Democratic, Tusk Venture Partners Locations: platitudes

☆ U.S. job market slows, but it's not yet a 'three-alarm fire,' economist says
▼ + stars: | 2024-09-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The unemployment rate also fell slightly, to 4.2% from 4.3% in July. For example, average job growth was 116,000 over the past three months; the three-month average was 211,000 a year ago. The unemployment rate has also steadily risen, from 3.4% as recently as April 2023. In other words, many more Americans entered the job market and looked for work; they're counted as unemployed until they find a job. That said, the job hunt has become more challenging for job seekers than in the recent past, according to Bunker.

Persons: Michael M, Ernie Tedeschi, Biden, hasn't, Julia Pollak, Bunker, " Tedeschi, Tedeschi Organizations: FedEx, Broadway, Santiago, Getty, of Labor Statistics, Yale Budget Lab, White House Council, Economic Advisers, Labor Department, ZipRecruiter, Workers, ., Federal Reserve Locations: New York City, U.S

☆ Both Trump and Harris want to eliminate taxes on tips. This is how it could affect workers
▼ + stars: | 2024-08-12 | by ( Tami Luhby | Matt Egan | ) edition.cnn.com time to read: +6 min

But the move likely wouldn’t help many tipped workers, largely because a sizable share don’t earn enough to pay federal income taxes, experts say. Harris would couple her plan to eliminate taxes on tips with a push for Congress to raise the minimum wage, a Harris campaign official said. Many states and municipalities have higher minimum wages and minimum tipped wages, while some states have eliminated lower minimum wages for tipped workers. Just excluding tips from federal income taxes could reduce revenues by at least $107 billion over 10 years, according to the Tax Foundation. Just getting rid of federal income taxes on tips would lead to a loss of about half that size.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Republican Sen, Ted Cruz of, Democratic Sens, Jacky Rosen, Catherine Cortez Masto, it’s, ” Ernie Tedeschi, Biden, ”, Erica York, ” York, Tedeschi, Ted Pappageorge, “, Pappageorge, Bethany Khan, CNN’s Aaron Pellish Organizations: CNN, Republican, Social Security, Democratic, Yale University, Budget, White House Council, Economic Advisers, Tax Foundation, Culinary Workers Union Local, Culinary Union Locations: Las Vegas, Ted Cruz of Texas, Nevada, York

☆ Harris matches Trump proposal to ban taxes on tips at Las Vegas rally
▼ + stars: | 2024-08-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Vice President Kamala Harris pledged to eliminate taxes on tips in the service and hospitality sectors if she wins the presidency, echoing the same proposal former President Donald Trump announced months earlier. The proposal came a day after the Culinary Workers Union, a major labor group in Nevada, endorsed Harris. Trump quickly took to social media to claim credit for the proposal, which he put forward in June at his own Las Vegas rally. "[Harris] has no imagination, whatsoever, as shown by the fact that she played 'COPYCAT' with, NO TAXES ON TIPS!" Banning taxes on tips would require new legislation and congressional approval, which a Harris campaign official later acknowledged.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Ernie Tedeschi, Tedeschi Organizations: Culinary Workers Union, Federal, Yale University's, CNBC, Trump Locations: Las Vegas, Nevada, America, Las

☆ We are pointed towards 'recessionary dynamics': New Century's Claudia Sahm
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are pointed towards 'recessionary dynamics': New Century's Claudia SahmDiane Swonk, KPMG chief economist; Ernie Tedeschi, Yale Budget Lab director of economics; and Claudia Sahm, New Century Advisors chief economist, join 'The Exchange' to discuss their reactions to the July job report, the possibility of an upcoming recession, and more

Persons: Claudia Sahm Diane Swonk, Ernie Tedeschi, Claudia Sahm Organizations: KPMG, Yale Budget Lab, Claudia Sahm , New Century Advisors Locations: Claudia Sahm ,

☆ Democrats vs. Republicans: Who's better for the economy?
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemocrats vs. Republicans: Who's better for the economy? Stephen Moore, Heritage Foundation senior visiting fellow and economic advisor to former President Trump, and Ernie Tedeschi, The Budget Lab at Yale Law School director of economics and former White House CEA chief economist under President Biden, join 'Squawk Box' to discuss whether Democratic or Republican policies would be best for the American economy over the next four years.

Persons: Who's, Stephen Moore, Trump, Ernie Tedeschi, Biden Organizations: Heritage Foundation, Yale Law School, White House CEA, Democratic

☆ Biden's new immigration executive order could tighten labor markets, but ease supply chain bottlenecks
▼ + stars: | 2024-06-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +8 min

Mike Blake | ReutersSince 2019, immigration has added 2 million workers to the U.S. labor supply, according to an April analysis by Tedeschi. Without immigrants, Tedeschi estimated that the size of the U.S. labor supply would have shrunk by 1.2 million during that period. The short answer is that this executive order will probably not increase inflation. Some experts say the executive order could bring down costs by smoothing out the U.S.-Mexico supply chain. Biden's executive order could help clear some of these supply chain bottlenecks.

Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Andrés Manuel López Obrador, Jose Luis Gonzalez, Ernie Tedeschi, Tedeschi, Trucks, Daniel Becerril, Donald Trump, I'd, Mike Blake, Tara Watson, Guillermo Arias, Jerry Pacheco, It's, Pacheco, Watson, Trump, Saul Loeb Organizations: White, . Border Patrol, Department of Homeland Security, NBC, Texas National Guard, Reuters, United, Yale University's, White House Council, Economic Advisers, Customs, Brookings, Immigrants, AFP, Getty Images Shipping, Border Industrial Association, Getty Locations: U.S, Mexico, Washington , U.S, United States, Texas, Ciudad Juarez, Nuevo Laredo, Biden's, San Diego , California, Mesa Port, Tijuana , Mexico, New Mexico, Calexico , California

☆ Live Updates: Inflation Expected to Cool Slightly
▼ + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com time to read: +9 min

Housing Inflation Remains Stubbornly High Economists had expected two measures of rental inflation to fade in 2023 and 2024, but that process is taking time to play out. There are two main measures of inflation in America, the Consumer Price Index and the Personal Consumption Expenditures index. Consumer Price Index Inflation Remains Hotter The Consumer Price Index is climbing faster than the Personal Consumption Expenditures index, in large part because it weights housing more heavily. With housing, Consumer Price Index inflation totaled 3.5 percent in March. But the convergence between new and existing rent inflation is taking a lot longer than expected.

Persons: There’s, “ It’s, ”, Mark Zandi, Biden, Zandi, grousing, “, O.E.R, We’re, would’ve, Mark Franceski, I’ve, Ernie Tedeschi, Tedeschi Organizations: New York Times, Federal Reserve, Index, Housing, Zelman, Associates, White House Council, Economic Advisers Locations: America, bam, Europe

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