Based on the U.S. Census Bureau's American Community Survey data, "lower income Californians are the ones who are leaving, not higher income," said Christopher Thornberg, founding partner of research and consulting firm Beacon Economics in Los Angeles. He said housing is the chief reason people are leaving California, pointing out there are frequently bidding wars for what limited inventory of homes is available.
China’s systematic mercantilism is a threat to the U.S. economy and the very soul of the global trading system. America cannot respond with either flaccid appeasement or economic nationalism; it must assemble an international coalition that pressures China to stop rigging markets and start competing on fair terms.
When you think of the richest places in America, it's often the sunny beaches of Miami or the towering high-rises of New York that come to mind. But now the Midwest is getting into the mix, and it's swankier than ever before -- at least in terms of average household income.
NASA has selected 128 proposals from American small businesses to advance research and technology in Phase II of its 2017 Small Business Innovation Research (SBIR) program. These selections support NASA's future space exploration missions, while also benefiting the U.S. economy.
Michael Pillsbury, Senior Fellow at the Hudson Institute and author of The Hundred-Year Marathon: China’s Secret Strategy to Replace America as the Global Superpower, described the Trump Administration’s implementation of tariffs on aluminum and steel imports as insufficient measures towards curbing China’s goal of displacing U.S. geopolitical global dominance.
MSNBC host Chris Matthews said President Donald Trump is using tariffs to look out for “people that nobody else is looking out for” and argued that tariffs are also very much a “cultural issue” in the Rust Belt.
Many pundits argue the biggest problem facing America today is income inequality. But the important question is, how much is this disparity growing? If inequality is growing at a massive rate--with the wealthy getting virtually all the gains of a growing economy--then policies aimed at simply “growing the pie” are unlikely to be successful.
How do you stack up against the wealthiest Americans? To be a 1 percenter, you need to have an adjusted gross income of at least $480,930, according to the latest data from the IRS, which looked at income statistics for tax year 2015. The top 1 percent accounted for 1.4 million individual income tax returns -- out of 141.2 million total -- that year.
As Federal Reserve chairman, Jerome Powell oversees monetary policy and regulates banks. But members of Congress questioned him as if he were an omnipotent politician capable of addressing all sorts of issues that fell beyond the normal duties of central banking.
In December 2016, CHX filed a proposed rule change, pursuant to the Securities Exchange Act of 1934, that would allow a group, led by Chongqing Casin Enterprise Group, to acquire the exchange. The SEC on Thursday blocked the $25 million takeover due to concerns about the ability of the Chicago exchange “to ensure ongoing compliance” with ownership and voting limitations. Moreover, the Commission questioned whether “the proposed ownership structure” would allow it “to exercise sufficient oversight” of the exchange.