• Why one of Wall Street's titans is on the side of the tax reformers - and maybe Joe Biden and Janet Yellen

    10 days ago - By Business Insider

    Summary List Placement Tax policy has taken center stage in recent weeks. President Joe Biden is aiming to lift tax rates on wealthy Americans and corporations in order to offset the costs of his $2.3 trillion infrastructure proposal. Republicans have balked at the plan, arguing such changes cut into the country's global competitiveness.
    One of the leading voices of Wall Street's center-left has weighed in, and he said it's time for a change.
    Neither side is particularly right or wrong, JPMorgan CEO Jamie Dimon said Wednesday in an annual letter to shareholders, before going on to say that...
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  • Trump Org CFO's ex-daughter-in-law hired a former top financial fraud prosecutor to pore over 'boxes of documents'

    Trump Org CFO's ex-daughter-in-law hired a former top financial fraud prosecutor to pore over 'boxes of documents'

    10 days ago - By Business Insider

    Donald Trump boards the elevator at Trump Tower in New York City on January 16, 2017.
    DOMINICK REUTER/AFP via Getty Images
    A witness cooperating with prosecutors looking into Trump has hired an expert in financial crimes.
    Duncan Levin, a former top official in the Manhattan DA's office, represents Jennifer Weisselberg.
    The ex-wife of a key Trump Organization employee has been turning over documents to prosecutors.
    See more stories on Insider's business page .
    A cooperating witness in two investigations into former president Donald Trump's finances hired a former top official in the...
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  • 65% of voters support corporate tax hikes to pay for Biden's infrastructure plan, new poll finds

    65% of voters support corporate tax hikes to pay for Biden's infrastructure plan, new poll finds

    10 days ago - By Business Insider

    Summary List Placement The $2.3 trillion infrastructure plan President Joe Biden unveiled last week includes a proposed corporate tax hike to 28%, and voters seem to like it, even a significant minority of Republicans.
    A Morning Consult/Politico poll released on Wednesday found that 65% of all voters support corporate tax hikes to pay for Biden's infrastructure plan, with 85% of Democrats, 60% of Independents, and 42% of Republicans supporting the tax hike. It also found that 53% of voters overall support infrastructure improvements with an increased corporate tax rate.
    "On a broad level...
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  • Biden's corporate tax rate hike could kill millions of jobs, business group's study finds

    Biden's corporate tax rate hike could kill millions of jobs, business group's study finds

    10 days ago - By RT

    New research from the US National Association of Manufacturers found that about one million jobs would be lost in the first two years if the corporate tax rate increased to 28% and other policies went into effect.
    The study , which was conducted by Rice University economists for the NAM, calculated the impact of increasing the corporate tax rate. It said that global domestic product would be down $117 billion by 2023, $190 billion in 2026, and $119 billion in 2031.
    Under the plan, announced by the US Treasury Department, the corporate tax rate could be raised to 28% from the current 21%...
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  • Former top Trump economic advisor said he supports Biden's 28% corporate tax rate in resurfaced video

    10 days ago - By Business Insider

    Former Director of the National Economic Council Gary Cohn in New York City.
    Jeenah Moon/Reuters
    A former Trump economic advisor said in a resurfaced interview that he supports Biden's proposed 28% corporate tax rate.
    "I'm actually OK at 28%," Cohn told Yahoo Finance last year.
    His remarks will likely be cited by Democrats as Biden argues for corporate tax hikes to fund infrastructure spending.
    See more stories on Insider's business page .
    There's an unlikely supporter of President Joe Biden's proposed 28% corporate tax rate: A former top advisor to President Donald Trump, who served as...
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