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Daily News Brief for Wednesday, January 25th, 2023

Daily News Brief for Wednesday, January 25th, 2023

FromDaily News Brief


Daily News Brief for Wednesday, January 25th, 2023

FromDaily News Brief

ratings:
Length:
15 minutes
Released:
Jan 25, 2023
Format:
Podcast episode

Description

https://www.facebook.com/CrossPolitic/videos/849469106279608/ - Play 26:41-27:11
 
Yeah that’s me everyone… and Knox… what the heck? Why are you so surprised I can be funny? Anyways… I just had to share that from our most recent show Darren Doane on Kinism (Kincest?), Racism, Christian Nationalism… you can find that in our Fight Laugh Feast App, on Youtube, Facebook, etc. But y’all, if you really want to help us in our fight against secular media, sign up for a club membership, at fightlaughfeast.com. We couldn’t do what we do, without your support, so again, that’s fightlaughfeast.com, and sign up for a club membership today. 
 
https://www.theepochtimes.com/democrat-policies-to-burden-american-businesses-with-higher-taxes-this-year_5006782.html?utm_source=partner&utm_campaign=BonginoReport
 
Democrat Policies to Burden American Businesses With Higher Taxes This Year
 
Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies.
 
The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher taxes. In addition, some of the temporary provisions in the 2017 Tax Cuts and Jobs Act (TCJA) enacted under the Trump administration are set to get phased out in 2023. The Joint Committee on Taxation estimates that the total effect of these two developments would result in additional tax increases of $115 billion for businesses.
 
The new corporate minimum tax charges a 15 percent levy on American businesses that make more than $1 billion in book income in a year for three consecutive years. As a result, the average effective tax rate on corporate income is expected to rise from 18.7 percent to 19.3 percent.
 
Around 200 of America’s biggest companies with more than $1 billion in profits are likely to be affected by the corporate minimum tax. They usually pay less than the 21 percent tax typically charged on firms. In addition, the minimum tax rule will also apply to foreign firms that generate over $100 billion in book income in the United States.
 
Companies that meet the conditions under this new tax policy must calculate their taxes in two ways: under the 15 percent corporate minimum tax rule and the 21 percent income tax rule. They must then pay the higher tax. Businesses operating in sectors like mining and real estate are expected to be the hardest hit by this change.
 
The stock buyback tax levies a 1 percent charge on publicly traded firms when they repurchase stocks. Some experts estimate that this tax will end up forcing businesses to maintain more cash on their company books when the money could have gone for investment.
 
Strategists at UBS calculate the two taxes will be a drag on company earnings this year, estimating a 1.5 percent decrease per share in firms listed on the benchmark S&P 500 Index.
 
https://www.breitbart.com/politics/2023/01/24/josh-hawley-to-propose-legislation-banning-tiktok-nationwide/
 
Josh Hawley to Propose Legislation Banning TikTok Nationwide
 
Sen. Josh Hawley (R-MO) said on Tuesday he will introduce legislation to ban TikTok nationwide, charging that it violates the privacy of Americans.
 
Hawley for years has moved to rein in TikTok.
 
Sens. Hawley and Rick Scott (R-F) proposed legislation in March 2020 that would ban TikTok from all federal government devices, citing cybersecurity concerns and possible spying by the Chinese government.
 
Congress passed Hawley’s bill to ban TikTok, which was signed into law on December 29, 2022. The bill was included in the $1.7 trillion, 4,155-page omnibus spending bill.
 
Hawley has questioned tech executives about their companies’ potential compliance with Chinese law that could provide the Chinese Communist Party access to data that could endanger Americans’ privacy.
 
Public officials and pundits across the political spectrum have contende
Released:
Jan 25, 2023
Format:
Podcast episode

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Daily News Brief