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Americans must pay higher taxes if they want to keep a high standard of living

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Americans must pay higher taxes if they want to keep a high standard of living

The U.S. government faces fiscal challenges that will require higher taxes, regardless of the presidential election outcome. The federal deficit is projected to grow to 6% of GDP by 2033, and debt held by the public will increase to 114% of GDP. The 2017 Tax Cut and Jobs Act simplified and cut individual income taxes and lowered business taxes, with most individual tax cuts expiring in 2025. President Biden’s proposed budget includes repealing benefits for high-income families and raising taxes on the wealthy. If former President Trump is reelected, the TCJA is likely to be extended, costing at least .3 trillion through 2033. Trump has proposed tariffs on imports from China and lowering the federal corporate tax rate. These proposals could lead to a financial “train wreck” for the nation.

Europe stock pickers go old-school to ride the next wave in AI

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Europe stock pickers go old-school to ride the next wave in AI

European stock pickers are turning to more established sectors like utilities, professional data providers, and copper miners to tap into the next wave of the AI boom.

Three bodies retrieved from Papua New Guinea landslide, UN says

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Three bodies retrieved from Papua New Guinea landslide, UN says

Three bodies were found in the aftermath of a massive landslide in Papua New Guinea, with the death toll expected to rise. Over 300 people were buried in the landslide, impacting multiple villages. Search and rescue efforts are ongoing in the mountainous area, with many still missing. The terrain remains unstable, posing a risk for more homes if the landslide continues.

‘When I saw Thanasis’ body, my life stopped’

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‘When I saw Thanasis’ body, my life stopped’

– After 19 years, a court has ruled that Thanasis Nicolaou was murdered, not that he committed suicide.

Hellenic Bank Q1 profits up, landmark deals in 2024

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Hellenic Bank Q1 profits up, landmark deals in 2024

Hellenic Bank announced first quarter profits of €93.3 million, up 34% year on year, but 25% below the previous quarter. Net interest income rose to €151 million, up 40% year on year. The bank has reached agreements for the renewal of a labor collective agreement and to strengthen its insurance operations. New lending in the first quarter reached €208 million, with a focus on retail customers. The bank has a liquidity coverage ratio of 580%.

California testing car tracking as possible gas tax replacement

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California testing car tracking as possible gas tax replacement

States, like California, are exploring alternative ways to recoup lost gas tax revenue by piloting a “road charge” program that charges drivers based on the number of miles they drive rather than how much gas they purchase. The program is optional and participants can earn up to 0 in incentives for providing feedback on their experience. The state is considering this alternative revenue source due to the decrease in gas tax revenue collection and the shift towards electric vehicles. The program includes security protocols to protect personal information, and no action or changes are currently being proposed.

Listed firms may face 2.5% additional corporate tax in FY25

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Listed firms may face 2.5% additional corporate tax in FY25

Fact: Companies listed on the capital market are expected to face an additional 2.5% corporate tax in the next fiscal year unless they adopt cashless transactions as the government plans to promote a cashless society.

Google acquiring HubSpot would bolster bid to challenge Microsoft

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Google acquiring HubSpot would bolster bid to challenge Microsoft

Google is considering acquiring HubSpot, a US marketing software maker with a market value of billion, to enhance its ability to compete against Microsoft in offering cloud-based applications to companies.

Investing in the Digital Yuan: Strategies for wealth accumulation

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Investing in the Digital Yuan: Strategies for wealth accumulation

Fact: The Digital Yuan, also known as e-CNY or Digital Currency Electronic Payment (DCEP), is the virtual version of China’s official currency, the Renminbi (RMB), developed and issued by the People’s Bank of China (PBOC).

BoC: receive your dividend electronically

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BoC: receive your dividend electronically

Fact: The Bank of Cyprus is allowing shareholders to receive dividends electronically, with instructions to be submitted no later than 10 working days before the payment date of June 14, 2024.