A common argument for increasing corporate taxes is that collections as a share of gross domestic product (GDP) fell after the rate was reduced to 21 percent as part of the Tax Cuts and Jobs Act (TCJA) in 2017. But that argument is incomplete. We estimate that when accounting for the U.S. pass-through business sector
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CNBC’s Jim Cramer on Thursday highlighted two characteristics that are prevalent on Wall Street, suggesting investors can find success by owning companies that exhibit them both. “It’s awfully hard to go wrong when you bet on companies with strong sales growth and rising gross margins,” the “Mad Money” host said. Those financial attributes are currently
In this article M The entrances at Macy’s are decorated with Christmas decorations on December 04, 2020 in New York City. Roy Rochlin | Getty Images Entertainment | Getty Images Macy’s on Thursday reported fiscal third-quarter earnings and sales that topped analysts’ expectations, leading the department store chain to raise its full-year forecast ahead of
Traders during the Sweetgreen initial public offering (IPO) in front of the New York Stock Exchange (NYSE) in New York, on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Stock futures edged up in overnight trading on Thursday as the S&P 500 aims to post a winning week. Futures on the Dow
Bill Gates can see how the Covid pandemic becomes manageable by next summer — and his roadmap is surprisingly simple. On Wednesday, the billionaire philanthropist and Microsoft co-founder listed the two key steps that he thinks will help conquer Covid, in an interview at the Bloomberg New Economy Forum. According to Gates, the path forward
Amazon and Blue Origin founder Jeff Bezos provides the keynote address at the Air Force Association’s Annual Air, Space & Cyber Conference in Oxen Hill, MD, on September 19, 2018. Jim Watson | AFP | Getty Images Jeff Bezos’ Blue Origin this fall raised its offer to cover NASA costs of an astronaut lunar lander by more
Getty Images Many Americans are having a crisis of confidence when it comes to whether their savings will meet their retirement goals. To that point, 52% of working Americans feel they are behind on their retirement savings, according to a new survey from Bankrate.com. They may be on to something. There’s a $4 trillion difference
Since buying the Tampa Bay Lightning in 2010, Jeff Vinik has looked to transform downtown Tampa. The NHL team has improved on the ice, winning the 2020 and 2021 Stanley Cups, and he has spearheaded a more than $3.5 billion real estate development. While Vinik told CNBC’s Diani Olick that he is “no commercial real
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A Tesla Model X at a charging station in Beijing, China. Meghan Reeder | CNBC Lexus was rated the most reliable automaker in Consumer Reports’ 2021 Auto Reliability Report, followed by Mazda and Toyota, while Jeep, Tesla, and Lincoln were at the bottom of the list. The report, which was released Thursday, focuses on what
In this article KSS Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Thursday said sales rose 16% in the fiscal third quarter, as shoppers turned to its stores and website for clothes and makeup. The department store raised its
John Malone Getty Images Liberty Media Chairman John Malone said the sizzling IPO market and soaring equity valuations remind him of the dotcom bubble in the late 1990s. “There’s no question that the equity markets right now are so interested in growth above all other criteria and this is, like, the bubble in the late ’90s
Traders work on the floor of the New York Stock Exchange (NYSE) on October 25, 2021 in New York City. Spencer Platt | Getty Images Retailers are reporting this week. Here’s the good news: The consumer is strong, and retail balance sheets have dramatically improved. “I have been bullish for over a year,” David Berman, portfolio
David Espejo | Moment | Getty Images Many Americans are suffering from sticker shock after seeing prices rise in recent months. A new survey from Country Financial finds that 88% of Americans are highly concerned about inflation. That’s as consumer prices soared to a more than 30-year record high in October, as measured by a
The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. Tyrone Siu | Reuters BEIJING — Highly indebted property developer China Evergrande will likely default because the company has essentially lost its main business, S&P Global Ratings analysts said in a report Thursday. Evergrande was
Prime Minister Alexander De Croo pictured during a press conference. HADRIEN DURE | AFP | Getty Images BRUSSELS — Belgium is toughening up social restrictions as Covid-19 cases surge, but Prime Minister Alexander de Croo tells CNBC the aim is still to keep society open. “It’s not the same virus anymore. This is a mutation
In this article CSCO Cisco CEO Chuck Robbins Manuel Blondeau | AOP.Press | Corbis | Getty Images Cisco shares tumbled as much as 8% in extended trading on Wednesday after the computer networking company reported quarterly revenue that fell short of analysts’ expectations and issued weaker-than-expected guidance. Here’s how the company did in its fiscal
In this article AFRM APT-AU The Klarna logo displayed on a phone screen. Jakub Porzycki | NurPhoto | Getty Images LONDON — Buy now, pay later services aren’t just popular among consumers. They’re also proving to be a hit with criminals. Fraudulent activity is on the rise at some of the largest buy now, pay
Elizabeth Holmes, founder of Theranos Inc., left, arrives at federal court in San Jose, California, U.S., on Wednesday, Sept. 22, 2021. Davie Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF. – Erin Tompkins, who got her blood drawn from a Theranos device at a Walgreens in Arizona, said the test misdiagnosed her as
A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, on Wednesday, Nov. 10, 2021. Bing Guan | Bloomberg | Getty Images (Click here to subscribe to the new Delivering Alpha newsletter.) Rivian’s blockbuster initial public offering last week pushed the total exit value for U.S. public-market listings this year