Week of November 6th, 2017

SESTA would crack down on the use of internet sites to promote sex trafficking by holding them liable.

Tax overhaul took over most of our coverage this week, so we end today with a check-in on the state of tax bills in the Senate and the House. And President Donald Trump’s speech in Vietnam today asserted that the U.S. won’t enter multilateral trade deals. We take a look at what his administration prefers instead. Plus, a regulation that would make internet platforms liable for what their users do intends to curtail sex trafficking, but could have many “chilling” implications, especially for smaller companies. 

It might need a bit of tinkering in order to move forward.

Remodelista's Julie Carlson talks organized living.

As small town populations decline, local newspapers disappear.

Check their credentials and ask about fees.

Columnist Alison Green covers the do’s and dont’s of eating at work.

They were long. They were difficult. They were… pretty much how regulations always get made.

That stress can make you vulnerable to eating disorders, alcoholism and anxiety, says psychologist Thomas Richardson. Mindfulness can help.

Harassment-related issues haven't been viewed by companies as a risk factor. That's changing.

(Markets Edition) Let’s dive into taxes again. Because the Senate has a different proposed tax bill than the House’s, we’ll examine their different takes on local and state deductions. Afterwards, we’ll look at a new GI Bill that would allow veterans to access money for college throughout their entire lives. 

Veterans still struggle with underemployment and low wages.

The "forever" measure includes more soldiers, like reservists.

(U.S. Edition) The Senate has released its version of a tax bill, which clashes with the House’s. One of the biggest differences is that the Senate wants to lower the corporate tax rate a year later than expected. We’ll look at why they’re pushing for a 2019 cut. Afterwards, we’ll dive into another major point of contention between both chambers of Congress: whether or not to get rid of medical deductions. Then to cap off today’s show, we’ll discuss Trump’s ability to get the deals he says he wants when it comes to trade.

(Global Edition) From the BBC World Service …U.S. President Donald Trump said in a speech to world leaders he won’t tolerate trade abuses anymore. We take you to the Asia Pacific Economic Corporation summit in Vietnam to show you the competing visions for world trade. Afterwards, life in Venezuela already means lining up to buy basic goods thanks to high inflation rates. We take a look at what fresh U.S. sanctions against 10 Venezuelan officials means for the country’s democratic rule. Then, a Paris icon mirrored in the Middle East: The famed Louvre art museum has licensed its name for a project abroad. We’ll highlight what’s on tap for Saturday’s opening day. 

Michael Seibel, Y Combinator's first African-American partner, makes the case for talented minorities founding startups instead of working for someone else.

It’s no secret that the tech industry has a diversity problem. According to data from the Project Diane data initiative, less than 1 percent of venture funding goes to companies founded by African-American women, for example. Marketplace’s Amy Scott talks with Michael Seibel, the first African-American to become a partner at the tech accelerator Y Combinator, about making it a priority to fund companies run by women and people of color.

A listener (kind of) stumped Molly with this question on Make Me Smart's Explainathon.

That’s what policy analyst Barmak Nassirian said when he saw the tax bill. He was thinking of the graduate students who work as research assistants and take advantage of certain tax breaks to offset the cost of their education, which is one of the deductions Republicans working on the bill are looking to slash. Continuing with tax overhaul analysis, we discuss whether cutting corporate taxes will actually bring jobs back to the U.S., since the tax bill can’t change the dynamic of the global economy. And with UN climate change talks underway with little support from the White House, we look into the possibility of smaller state and local efforts.

Minority and lower-income residents are struggling to pay skyrocketing bills for a basic resource, says Patrick O'Connell of the Chicago Tribune.

Food halls are proliferating in cities big and small.

The Senate and House tax bills don't line up when it comes to policy that affects individuals and corporations, which may make it trickier for Republicans to pass their tax overhaul by the end of the year.

Lobbyist Jodi Hicks says she thinks change is coming, but I think "it's going to be uncomfortable along the way."

Banks hope that a crackdown on the secrecy behind U.S.-based shell companies will make their jobs easier.

One study found that training men can lead to backlash.

(Markets Edition) The Senate is expected to unveil its tax plan today, which is reported to have significant changes from the House’s version. Diane Swonk, CEO of DS Economics, stopped by to walk us through some of these potential differences, which may include the speed or rate at which corporate taxes are cut. Afterwards, we’ll look at how Wendy’s is trying to attract more customers by turning one of its oldest restaurants into a “laboratory.”

(U.S. Edition) President Trump is returning from China with $250 billion in deals in tow, including one between the country and Boeing. But not everyone’s impressed. On today’s show, we’ll look at some of the reasons American companies are worrying that these deals do little to address their key issues. Afterwards, we’ll talk to Vicki Magley, professor of psychology at U Connecticut, about conducting effective sexual harassment training in the workplace. 

With sales under pressure, the chain is looking at new ways of doing business.

The head of the OECD's tax arm says that the era of bank secrecy is over.

(Global Edition) From the BBC World Service …Three weeks — that’s how long Britain has to figure out what it’s paying the EU in its divorce settlement. How likely is it that negotiators will be able to make that deadline? Then, we talked about the arrests of 11 Saudi princes in a wide-ranging operation by the new crown prince Mohammed bin Salman. Today, we get the perspective from young Saudis in Riyadh – six out of 10 people in Saudi Arabia are below the age of 30. Afterwards, all week there have been revelations from the Paradise Papers about the tax avoidance strategies of everyone from race car drivers to Apple to elite universities. The head of the OECD’s tax division explains why its so hard to coordinate global tax policies – though he says it has been improving.

As of this week, Twitter is doubling its character limit to 280 characters for nearly all users. The rationale: New users might find it easier to start tweeting and might stick around. Japanese, Korean and Chinese-language tweets will keep the original 140. As Twitter explained it, these are denser languages, requiring fewer characters to express what might take much longer in English, French and Spanish. But will it get more people using the service? We ask Michael Pachter, managing director of equity research for Wedbush Securities.

A new estimate by the Congressional Budget Office says the plan could add $1.7 trillion to the deficit

And the water flowing into the tub is from deficits. Deficits like the $1.7 trillion in 10 years that the new tax bill is expected to add, according to the Congressional Budget Office. How long until the tub overflows? We explore that metaphor and other ways to think about our debt situation. And a week into the open enrollment period for Obamacare, we talk about how the change in administrations has affected people signing up for health care. Plus, can Snapchat’s popularity among teens translate into share price? And finally, a dispatch from China ahead of President Donald Trump’s trade talks with Xi Jinping. 

There have been reports this week that the Murdoch family is talking with Disney about selling the entertainment division of 21st Century Fox. It would be a big deal for Disney, and it would also mean a big change for Fox. Sarah Ellison wrote in Vanity Fair about the rumored deal and how the complicated […]

The president will likely ask for some technology reciprocity and help with North Korea.

Turning 26 and buying health insurance for the first time during a period of uncertainty over the fate of Obamacare is stressful.

Most of the 75 ships transport oil and gas products worldwide, presenting a conflict of interest for the commerce secretary as he negotiates trade deals. Records show 11 purchases since March. Ross has come under fire for not disclosing Russia-tied ship business and a U.S. senator wants an investigation.

(Markets Edition) In the year since President Trump was elected, the Dow has risen 28.5 percent — the largest post-election yearly rise since 1945. While Trump has credited himself with this growth, Susan Schmidt — senior vice president and portfolio manager at Westwood Holdings Group — joined us to explain why it’s difficult to determine the direct cause. Afterwards, we’ll look at the IRS’ commissioner’s decision to step down, and why this comes at a critical time. Plus: We talk about what the aftermath of Brexit means for businesses.  

More employers offer repayment assistance as millennial workforce grows.

Negotiations are sluggish as the nation moves toward leaving the European Union.

(U.S. Edition) Another day, another potential tax plan. The House GOP recently released its proposed bill to overhaul America’s tax system, and now there’s word the Senate may release a proposal soon. We’ll look at reports that say that the Senate may delay changes to corporate taxes so that they wouldn’t phase in until 2019. Afterwards, we’ll take a brief step back and discuss some issues the U.S. auto industry is taking with this House tax proposal. It would eliminate a tax credit of up to $7,500 to get people to buy electric cars. And finally, we’ll speak with Cathy Cohen — lead investigator of GenForward, a nationally representative survey — about how millennials view race in the U.S.. While most white millennials don’t think minorities are taking their jobs, almost half think discrimination against whites is as big of a problem as discrimination against people of color.

(Global Edition) From the BBC World Service … President Trump arrives in China today after saying that the world needs to cut off all trade ties with North Korea. What will China’s leader Xi Jinping think of Trump’s tough trade stance? Then, more revelations from the leak of tax documents known as the “Paradise Papers.” This time, it’s the southern African country of Angola that’s in the cross-hairs. Afterwards, it’s the one-year anniversary of India’s so-called “cash ban.” The country withdrew 80 percent of its big currency notes to try and force hidden, un-taxed cash into its banking system. We go to one village that was supposed be the model – but where cash is still king.

The numbers go up when including millennial Trump voters, according to a new GenForward survey.

Maybe those metal keys will stay in your junk drawer forever.

Today, Amazon started shipping its Amazon Key, a smart lock and camera device that lets delivery workers leave packages inside your home. Smart locks aren’t a brand-new invention, but this made us wonder: Will we someday abandon physical keys altogether? Marketplace’s Amy Scott talked with Jason Williams of Assa Abloy, a security company with brands including Yale and Emtek, about the future of keyless technology.

The theory of trickle-down economics has been used to sell tax cuts for the wealthy in the past. But does it really hold water? And rates of homeownership have been increasing despite rising prices in the real estate market. We look into where this seemingly new money is coming from. Plus, Brexit blues continue with dire financial predictions, Disney’s flexing on theaters with tough contract terms and journalists who criticize them, and Ellevest CEO Sallie Krawcheck talks about the Harvey Weinsteins of Wall Street.

Erich Schwartzel wrote about the tough tactics — like requiring 65 percent of ticket sales — for the Wall Street Journal.

Change is coming from the ground up, not the CEOs, says author Sallie Krawcheck.

(Markets Edition) On today’s show, we’ll recap a major misstep made by the Tax Policy Center. The nonpartisan think tank has retracted an analysis on the GOP’s tax plan after a staffer found a mistake related to the Child Tax Credit. Afterwards, we’ll look at how the Paradise Papers show Apple has found a new tax haven with the island of Jersey. Adam Rosenzweig, a law professor from Washington University in St. Louis, tells us some policy changes that countries can implement to address this issue. And finally, we’ll talk about China’s scramble to ensure there’ll be nicer air as part of President Trump’s Beijing visit. How does a country even go about doing that?

We answer your questions about taxes, the cloud inflation and socks. Yup, socks.

The 400-plus-page bill has some provisions that may have less to do with actual taxes, and more to do with winning over conservatives.

(U.S. Edition) Millions of leaked documents known as the “Paradise Papers” show how the very rich are using offshore accounts in tax havens. One of the companies cited in these leaks: Apple. We’ll look at how the company had shopped around for a tax haven after a crackdown on its tax practices in Ireland. Afterwards, we’ll discuss some of the provisions buried in the GOP’s tax bill meant to appeal to social conservatives, and then talk about a growing increase in the number of longer-term car loans.

(Global Edition) From the BBC World Service … More revelations from the leak of more than 13 million confidential tax documents from the offshore law firm Appelby — this time it’s Apple that’s in the crosshairs. What’s the world’s biggest company being accused of? Then, although there’s no official definition for a tax haven, the island of Guernsey — between Britain and France — has often been considered one. While the crown dependency has not been named in the Paradise Papers leak, the island’s chief minister speaks out, calling it a “political move” to publish stories related what he calls “stolen documents.” Afterwards, oil prices are hovering near two-year highs. When we talk about the price of oil, we typically mention the European oil price, Brent crude, and the U.S. oil price, West Texas Intermediate Crude. Why?

Historian Leslie Berlin's new book explores Silicon Valley's transformation into a tech hub.

In the tech world we’re usually looking to the future. Leslie Berlin’s new book “Troublemakers: Silicon Valley’s Coming of Age,” looks at the industry’s past, specifically its big turning point in the 1970s. Marketplace Tech host Molly Wood talked with Berlin about the pioneers of tech and how they helped shape the industry. 

Your regularly scheduled episode of Marketplace is landing in your feed later today, but for now we have something special. The Uncertain Hour is back for a brand-new season, and this year we’re unpacking a ten-letter word that influences our lives every day: regulation. Federal regulations affect everything from what’s inside your peanut butter jar, to how the opioid crisis spread, to how we define crime in America. Our first episode tells the story of Ruth Desmond, the “Peanut Butter Grandma.” She was a concerned citizen who started lurking in the halls at the Food and Drug Administration and changed food forever. The things we fight the most about are the things we know the least about, so subscribe to The Uncertain Hour and visit theuncertainhour.org for more.  

Tax havens aren’t all white sand and palm trees — Montana and Wyoming offer the same kind of anonymity for shell companies. And there are important distinctions between illegal  activity and tax avoidance. Speaking of taxes, we dig a little deeper into the new tax bill, looking at the impact of removing alimony deductions and discussing just how pro-growth it is with Neil Bradley, senior vice president and chief policy officer at the U.S. Chamber of Commerce. Plus, a fact check on President Donald Trump’s statement that arms sales are job creation and a look at the day-to-day life of Puerto Ricans who had to leave the island because of power outages and food shortages.

"If folks are going to stand in the way, then we are going to hold them accountable next November," Neil Bradley of the chamber says.

Regulating the big banks is only part of the job.

Many find shelter with family or friends, but have little but the clothes on their backs.

The agreement with China will increase U.S. exports of liquid natural gas. Navigator Holdings, which could gain from increased drilling, has a business partnership with a Russian-owned firm and is partially owned by Ross via an offshore investment fund. For deal-maker Wendy Teramoto — Ross' chief of staff and Navigator board member at the time — it raises a conflict of interest.

How will it affect efforts to modernize the country? Bloomberg investigative reporter Peter Waldman discusses it with us.

Alison Green of Ask a Manager answers your questions about office food dos and don'ts.

(Markets Edition) A senior figure at America’s central bank — William Dudley — is leaving the New York Fed after eight years. Julia Coronado from MacroPolicy Perspectives is here to explain the importance of this regional branch to America’s monetary system.  Then, we’ll chat with Marketplace senior correspondent Krissy Clark about the new season of our documentary podcast “The Uncertain Hour.” She chats with us about this season’s theme: federal regulations. Who do they protect? Who has the power and access to write them?

Documents made public as part of a data dump being called the Paradise Papers show that Commerce Secretary Wilbur Ross has dealings with Sibur, an energy company with close ties to Russian President Vladimir Putin, through his investment in a shipping company called Navigator Holdings.

Tesla has had a tough couple of weeks. On Friday, the carmaker updated its customer reservation website to tell people that delivery of the mass-market Model 3 would be several months late, at best. And in an earnings call last Wednesday, Tesla CEO Elon Musk went into great detail about software issues, robot calibration and battery assembly, and said the company is currently in the ninth level of hell. Part of the problem is that making cars is really hard, and Tesla is still more of a software company. But some argue that having a tech-first mentality could benefit Tesla in the long run because it will be able to make changes faster.  

(U.S. Edition) As part of an anti-corruption drive, dozens of Saudi princes and businessmen are under arrest in Riyadh. We’ll take a look at some of the key players involved, and how this could affect the planned IPO of  Saudi Aramco, which could become the largest-ever public offering. Afterwards, we’ll look at a leak of documents, known as the “Paradise Papers,” that indicate U.S. Commerce Secretary Wilbur Ross has previously undisclosed business ties to an energy firm owned by friends and family of Russian President Vladimir Putin. And finally, we’ll discuss the upcoming House Ways and Means Committee “markup” meeting over the GOP tax bill, along with China’s growing role in the fight against climate change.

(Global Edition) From the BBC World Service … In a move that he says was meant to clamp down on corruption, Saudi Arabia’s new crown prince Mohammed bin Salman has jailed over a dozen princes and ministers (though the jail, it should be said, is the Ritz-Carlton) — causing surprise and consternation among the international business community. That’s because one of those jailed is Prince Alwaleed bin Talal, who has invested heavily in U.S. companies like Twitter, Apple and Citigroup. Afterwards: they’re being called the “Paradise Papers” — a leak of more than 13 million documents that has revealed the investment secrets and tax avoidance strategies of the world’s biggest companies — and richest men and women, including U.S. Commerce Secretary Wilbur Ross. Then, U.S. President Trump has complained about Japan’s unfair trade policies during his visit to the country. Could this jeopardize Japanese-American trade negotiations?