Oct 11, 2017

10/11/2017: The truth about taxes

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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 There's also some tax trouble in Cook County, Illinois, over a soda tax that's been repealed after only two months in effect.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.

Segments From this episode

Houston is trying to get buyout offers to homeowners quickly

Oct 11, 2017
After hurricanes, government officials buy homes that are "hopelessly at risk" for future flooding and demolish them.
Jean Olson's home in Bellaire is one of many on her street that is inside-out. Even family heirlooms are in her front yard because her house is still uninhabitable.
Filipa Rodrigues/ for Marketplace

If things are booming, does the economy need tax cuts?

Oct 11, 2017
In a tweet today, President Trump today took credit for the run-up in the stock market since the election. Then the president went on to say that “if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds.” Is there any evidence that the […]

Chicago’s short-lived soda tax faced relentless opposition

Oct 11, 2017
Cook County, Illinois, home to Chicago, passed a penny-per-ounce tax on soda late last year. The driving force was raising revenue in a state with deep budget woes. But legal challenges delayed the tax going into effect, and a strong campaign from the beverage industry has soured public opinion on the measure. It was repealed […]

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.

Music from the episode

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