01/01/2018: Goldman Sachs' $5 billion tax hit
January 01, 2018
(Markets Edition) Goldman Sachs recently announced it would take a $5 billion tax hit from the GOP overhaul, a loss that mostly comes from its move to bring home money it had stashed overseas. But analysts expected this, and under the new tax law, the money is subject to a lower tax rate than before. Karen Petrou, co-founder of Federal Financial Analytics, joined us to discuss how companies might use the money they bring back to the U.S., and what indicators we should look for to figure out if these tax cuts are actually stimulating the economy. Afterwards, we'll look at how climate change might affect the airline industry, and then discuss what the recent hurricanes mean for cruise line companies and tourism.