Nov 6, 2017

11/06/2017: Tax avoidance is OK, evasion is not

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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.

Segments From this episode

What the corruption arrests in Saudia Arabia mean for the economy

Nov 6, 2017
How will it affect efforts to modernize the country? Bloomberg investigative reporter Peter Waldman discusses it with us.
Saudi Arabia's Deputy Crown Prince and Defense Minister Mohammed bin Salman, second from left, arrested  more than 60 people over the weekend.
Jonathan Ernst - Pool/Getty Images

How the GOP tax plan changes the alimony equation

Nov 6, 2017
The Republican tax plan would change alimony from something that is treated favorably for the people who have to pay it to something that is more of a tax burden. That’s because alimony payments would no longer be deductible from income on the payer’s tax return. The change could make divorce settlements more difficult to […]

Top Wilbur Ross aide played a role in trade deal while on the board of shipping firm tied to Russia

Nov 6, 2017
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.
Navigator Ceres, a liquefied petroleum gas ship owned by Navigator Holdings Ltd., in Brevik, Norway, in March 2016.
Tomas Østberg-Jacobsen

Are military contracts a path to more American jobs?

Nov 6, 2017
President Donald Trump prides himself on being deal-maker-in-chief, and that includes arms sales to foreign militaries. In Japan for his Asia trip, the president said the Japanese could shoot North Korean missiles out of the sky when they buy “lots of additional military equipment” from the U.S. He also said that would mean lots of […]

Puerto Ricans fleeing Maria seek a New York foothold

Nov 6, 2017
Many find shelter with family or friends, but have little but the clothes on their backs.
People wait in line to get a flight out of the Luis Munoz Marin International Airport as they try to return home or escape the conditions after Hurricane Maria on September 26, 2017 in San Juan, Puerto Rico. 
Joe Raedle/Getty Images

Tax havens for the super wealthy may be evasive, but not always illegal

Nov 6, 2017
Some places to easily hide wealth don’t conjure up images of paradise.

The New York Fed president is first among equals

Nov 6, 2017
Regulating the big banks is only part of the job.
New York Federal Reserve President William Dudley is the chief regulator for New York's big banks.
Rob Kim/Getty Images

The US Chamber of Commerce won't let go of corporate tax cuts

Nov 6, 2017
"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.
Members of the House Ways and Means Committee hold the first markup of the proposed GOP tax reform legislation in the Longworth House Office Building on Capitol Hill today.
Chip Somodevilla/Getty Images

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.