10/11/2017: The truth about taxes
October 11, 2017
The White House made a few statements recently regarding tax cuts and tax rates that could really use some fact-checking. And that's what Marketplace is here for. President Donald Trump tweeted that the massive tax cuts he'd like to see from Congress would cause an already rallying stock market to skyrocket. But historically, the effects of big tax cuts on the stock market have been small, and it has likely gone up since Trump was elected in anticipation of cuts. Then, Sarah Huckabee Sanders assured the press corps that the U.S. has the highest tax rate in the developed world, which is technically true, but the rate most corporations actually pay is pretty average in comparison. There's also some tax trouble in Cook County, Illinois, over a soda tax that's been repealed after only two months in effect. Plus, we dive deep into home buyouts in post-flood Houston, the economic mood in Catalonia and how to make a women's magazine thrive in a competitive industry.