President Joe Biden just issued his raft of tax increases. Here’s the focus: the president wants to raise rates on the top earners across the board. Highest-earning individuals, investors, and corpora...
Tag: deficit
Biden budget proposal aims to reduce deficit by $74M in 2024 via energy tax on crypto miners
U.S. President Joe Biden’s budget and associated tax proposals could impact cryptocurrency miners, according to the White House’s 2024 budget paper. The budget specifically proposes imposi...
Biden’s 2024 Budget Will Focus On ‘Billionaires Tax’ And Lowering The Deficit By $3 Trillion: Here’s What To Know
Topline President Joe Biden will propose new taxes on the wealthy in order to lower the federal deficit by $3 trillion when he unveils his 2024 budget plan Thursday — but the proposal is expected to f...
Russia’s deficit leaps to £29bn as Putin spends ferociously
Russia’s federal budget deficit widened to 2.58trn roubles (£29bn) in the first two months of the year – MIKHAIL METZEL/SPUTNIK/AFP via Getty Images Russia’s budget deficit jumped in...
USD/JPY price forecast as Japan trade deficit soars to record high
The USD/JPY exchange rate made a steady recovery this week after Japan unveiled the next Bank of Japan (BoJ) governor. The rebound faded slightly on Thursday after Japan published weak trade and machi...
Biden outlines plans to cut U.S. deficit by $2 trillion over the next decade
(The stream is slated to start at 2:30 p.m. ET. Please refresh the page if you do not see a video above at that time.) U.S. President Joe Biden is in Lanham, Maryland today where he will speak to the ...
US Budget Deficit Widens Rapidly, Threatening Debt-Limit Timeline
(Bloomberg) — The federal budget deficit is widening rapidly, according to the latest estimates by the Congressional Budget Office, raising the risk of the Treasury running out of cash earlier t...
Silvergate Reports $1B Deficit In Q4 2022
A class-action lawsuit is now being brought against Silvergate Bank because of its interactions with FTX and Alameda Research. Silvergate Bank has declared that it expects to report a net loss of $1 b...
Midas Investments close down amid $63M DeFi portfolio deficit
Custodial CeDeFi investment platform Midas will close down its operations because of a $63.3 million deficit in its decentralized finance (DeFi) portfolio. In an announcement, the company’s founder a...
Midas reveals $60M deficit, announces closure of operations
Crypto platform Midas Investment will shut operations because of the significant losses it incurred in 2022, according to a Dec. 27 statement. CEO Iakov “Trevor” Levin said the Midas DeFi Portfolio lo...
Bancor DAO mulls proposal for self-arbitrage bot to cover $26 million deficit
Bancor DAO, the decentralized community that oversees the Bancor DEX, is considering a proposal to create a self-arbitrage bot to profit off opportunities on its own protocol in an attempt to reduce t...
deficit in Miami- The Cryptonomist
Miami nightclubs mourn their crypto-millionaires who are now broke. According to some sources, some nightclubs in the area had started accepting cryptocurrency payments. However, recently in Miami, Fl...
Sam Bankman-Fried Addresses $8 Billion Balance Sheet Deficit
The entire crypto market bled with multiple losses and asset devaluation after the collapse of Sam Bankman-Fried’s crypto exchange FTX. In addition, crypto firms exposed to FTX got a fair share of the...
U.S. Total Trade Likely To Surpass Eye-Popping $5 Trillion In 2022
U.S. merchandise trade with the world is on track to surpass an eye-popping $5 trillion in 2022, according to the latest U.S. Census Bureau data. Total U.S. trade only surpassed $4 trillion for the fi...
Labor costs show slower rise, while trade deficit widens and jobless claims nudge lower
The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a me...
U.S. budget deficit cut in half for biggest decrease ever amid Covid spending declines
U.S. Treasury Secretary Janet Yellen listens to a reporter’s question at a news conference during the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., Octob...
Natural Gas Futures Slip as Traders are Focusing on Shrinking Storage Deficit; Cash Increases
The Natural Gas network was badly affected after Russia and Ukraine Wars. Worst Weather conditions are among the major factors affecting Natural gas supply and demand. Natural gas futures mostly cont...
Student Loan Forgiveness Plan Won’t Make Inflation Worse—Even If It Adds $400 Billion To Deficit, Goldman Says
Topline President Joe Biden’s historic plan to forgive up to $20,000 in student loans for millions of borrowers quickly drew criticism for potentially threatening to tack on to inflation that...
Deficit and market shift in electronics: opportunities for investment
What is the market for electronic stocks growing and why? Which country is now being invested in instead of China? More about the current trends and huge issues of investment in electronic components ...
Celsius Network Reveals Plans To Compensate Depositors Despite Massive $1,190,000,000 Balance Sheet Deficit
Centralized finance (CeFi) platform Celsius Network is revealing plans to compensate users whose funds are still unavailable for withdrawal. In a United States Bankruptcy Court Southern District of Ne...
On U.S.-China Trade War, Biden Should Declare Victory, End Tariffs
China remains the top importer into the United States, particularly in manufactured high-tech goods, … [+] but its market share of U.S. imports is shrinking. ustradenumbers.com The percentage of...
Vauld Discloses $70 Million Asset Deficit; Seeks Repayment Moratorium
Vauld has disclosed a shortfall of $70 million to its creditors, days after the crypto platform suspended withdrawals, deposits, and trading activities for its users. Media reports confirmed the asset...
CoinFLEX Claims Deficit Climbed to $84 Million in Fresh Update
12 seconds ago | 2 mins read Exchange News Recently, the exchange halted withdrawals on its platform. An arbitration proceeding in Hong Kong is underway against this person. In response to Roger Ver, ...
India Hikes Duty on Imported Gold, Seeking to Bring Down Trade Deficit – Economics Bitcoin News
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are f...
Top 10 U.S. Export Partners Tells A Different, Less Asian Story
Canada and Mexico alone accounted for one-third of all U.S. exports through the first four months of … [+] 2022, the latest data available from the U.S. Census Bureau. ustradenumbers.com Last ye...
Reducing the US deficit will mean pain for the middle classes
The writer is director of economic policy studies at the American Enterprise Institute After years of pandemic spending, both US political parties are refocusing on the budget deficit. Republicans bla...
U.S. Imports, Exports Jump 20% To Shatter 2021 Records
The price of a barrel of oil is a major factor in record overall export and imports thus far in … [+] 2022. AFP via Getty Images U.S. trade is up more than 20% over the 2021 record pace, accordi...
Vietnam, For Once, Was Not America’s Fastest-Growing Trade Partner
The twin ports of Los Angeles and Long Beach accounted for more than a third of all U.S. trade with … [+] Vietnam in 2021. The top three airports, Dallas-Fort Worth, Chicago O’Hare and Los...
Crypto tax rules will reduce US budget deficit by $11B over ten years — White House
The United States government’s budget for the 2023 fiscal year included roughly $11 billion in revenue over the next decade from modernizing rules around digital assets. According to U.S. President Jo...
Unless OPEC increases output, oil market will fall into deficit after Russian invasion, IEA says
Russia’s invasion of Ukraine and sanctions on its oil exports threaten a supply shock that will weigh on the global economy and push the oil market into a deficit unless major producers increase outpu...