A decade of rising house prices is over. The UK economy will feel the pain

A decade of rising house prices is over.  The UK economy will feel the pain

London CNN Business — For years, home ownership in the UK has been a one-way venture. Prices have risen steadily since the global financial crisis, increasing in even greater increments after the pandemic began. Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 ($315,474) in December, up £27,000 on … Read more

End the inflation tax on capital gains

End the inflation tax on capital gains

In the waning days of the 2022 midterm cycle, Republicans have an opportunity to deliver a winning message: Americans should not be taxed on inflation. This used to be unbiased wisdom. After the GOP took up the cause in response to inflation in the 1970s, leaders in both parties agreed for years that the government … Read more

How Liz Truss’ tenure as British Prime Minister went from bad to worse

How Liz Truss’ tenure as British Prime Minister went from bad to worse

CNN — Taking the keys to 10 Downing Street in the wake of Boris Johnson’s political death, Liz Truss vowed to “ride out the storm” of Britain’s economic crisis. A good six weeks later she was engulfed by a hurricane of her own making. It was a humiliating end to a disastrous premiership marked by … Read more

The UK market meltdown could be heading your way

The UK market meltdown could be heading your way

As fun as it may be for outsiders to stare at the political chaos engulfing Britain, Prime Minister Liz Truss’ departure on Thursday is a sideshow. The bigger problem is that recent events in Britain are an alarming vision of a fate that potentially awaits us all in developed economies. The conventional view of Ms … Read more

Ohio’s example for Liz Truss

Ohio’s example for Liz Truss

British Prime Minister Liz Truss attends a press conference in London on October 14. Photo: POOL/REUTERS Ensuring economic vitality is a fundamental responsibility of any government leader. Liz Truss, Britain’s new prime minister, was on the right track with a budget proposal rooted in limited spending and tax cuts – two essential elements for economic … Read more

Liz Truss told to hold a press conference while the tax cut is swirling

Liz Truss told to hold a press conference while the tax cut is swirling

London CNN Business — British Prime Minister Liz Truss will hold a press conference on Friday amid widespread speculation that she is preparing to ditch a major part of her economic strategy unveiled just three weeks ago. Her “mini budget”, presented by finance minister Kwasi Kwarteng on September 23, promised huge tax cuts and increased … Read more

Truss must give the speech of his life to turn his fortunes around

Truss must give the speech of his life to turn his fortunes around

Birmingham, England CNN — Despite only being in the job for a month, British Prime Minister Liz Truss must give the speech of her life on Wednesday if she is to get her fledgling premiership back on track. Her government was forced to make a stark U-turn on Monday over a proposal to cut Britain’s … Read more

The GOP needs to leave Trump behind in the trade

The GOP needs to leave Trump behind in the trade

“Our trade policy rests firmly on the foundation of free and open markets,” President Ronald Reagan said in 1986. Thirty years later, President Donald Trump tweeted, “The word TARIFF is truly a beautiful word.” His administration—to cheers from parts of the GOP—imposed tariffs of as much as 50% on steel, aluminum and a range of … Read more

Liz Truss admits mistakes in controversial tax cuts plan, but doubles down on it anyway

Liz Truss admits mistakes in controversial tax cuts plan, but doubles down on it anyway

London CNN — British Prime Minister Liz Truss admitted mistakes were made with her government’s controversial “mini-budget” announced last week – which sent the pound to historic lows and sparked market chaos – but stood by her policy. Speaking to the BBC’s Laura Kuenssberg on Sunday morning, Truss said: “I accept that we should have … Read more

Missouri tax cuts pass with bipartisan support – and scrutiny | Missouri News | St. Louis

Missouri tax cuts pass with bipartisan support – and scrutiny |  Missouri News |  St.  Louis

click to enlarge TIM BOMMEL/HOUSE COMMUNICATION Gov. Mike Parson called for a special session of the state legislature to pass the tax cut. Yesterday, the Missouri House of Representatives passed a bill that lowers the state’s income tax and sent it to Governor Mike Parsons’ desk for his signature. The highest income tax rate in … Read more