Page 45 - John Authers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

© Imtiyaz Shaikh/Anadolu Agency via Getty Images Just when it appeared there was a light at the end of the tunnel for the Covid crisis, India is shattering global records, giving the world a harsh reality check that the pandemic is far from over. The world’s fifth largest economy reported a new global all-time high of 412,431 cases on 5 May just days after it crossed the grim milestone of over 200,000 deaths and 20 million infections. What’s more is that it recently overtook Brazil to become the second most affected country by case numbers and now regularly reports new daily covid cases...

Adam Tooze’s essay on Paul Krugman contains this very revelatory passage: “The more imperfections there are in a model, the less easy it is confidently to characterise the equilibrium that supposedly approximates the running of the actual economy. The result is liberating in its overturning of a simplistic faith in the self-regulating perfection of free trade or flexible markets, but it also creates an opportunity for heterodox economists and disreputable policy entrepreneurs. Upholding the rigour and status of proper economics thus requires vigilant policing. Summers, for example, can t...

Stocks Gain Despite GOP’s Dire Warnings About Biden Reprinted with permission from Alternet In addition to proposing an increase of the United States' corporate tax rate from 21 percent to 28 percent, President Joe Biden began a push this week for a major hike in the capital gains tax. Republican Sen. Shelley Moore Caputo of West Virginia and others on the right, not surprisingly, slammed the proposal and predicted the worst, and some on the right felt vindicated when the stock market dipped sharply after Biden's announcement. But liberal economist and New York Times columnist...

© Nicolas Economou/NurPhoto via Getty Images US investors got a nasty tax shock yesterday: US president Joe Biden wants to increase capital gains tax. A lot. He’ll be laying out the exact details next week. But suffice to say, if you’re an investor in America, sitting on a lot of paper profits, you might now be wondering if it’s time to take some money off the table. So what might that mean for markets more broadly? The capital gains tax rise is mostly about politics Markets were pootling around minding their own business yesterday, generally trending higher, when about halfway throug...

Here's the truth about the stock market's reaction to Biden' new tax plan Joe Biden in August 2020, the White House Joe Biden had the perfect response to Republicans' alleged concerns about the deficit In addition to proposing an increase of the United States' corporate tax rate from 21% to 28%, President Joe Biden began a push this week for a major hike in the capital gains tax. Republican Sen. Shelley Moore Caputo of West Virginia and others on the right, not surprisingly, slammed the proposal and predicted the worst, and some on the right felt vindicated when the stock mark...