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Ray Dalio Says End of the SALT Deduction Will Further Divide the Nation

Billionaire legislation. The Senate bill mirrors the House legislation by calling for the repeal of state and local tax deductions, while allowing up to $10,000 for property tax deductions. According to a study by the Tax Policy Center, 7 percent of taxpayers would pay more tax in 2019, 10 percent in 2025, and 48 percent in 2027, compared to current law. On average in 2027, taxes would change little for lower- and middle-income groups and decrease for higher-income groups. Tax Revenues On its face, ending so-called Read more about the…

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Typhoon Lan Poses a $35 Billion Threat to Japan in Worst Case

Typhoon Lan, which is forecast to strike near Tokyo early Monday morning, may cause an estimated $25 billion to $35 billion in damage, said Chuck Watson, a disaster modeler with Enki Research in Georgia. Lan is about 1,169 miles (1,881 kilometers) south of Tokyo with top winds of almost 150 miles per hour. That would make it the equivalent of a Category 4 hurricane on the five-step Saffir-Simpson scale, according to the

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Oils Biggest Rigs Head to the Junkyard

Ensco Plc brought its DS-4 drillship back from cold stack, but it wasn’t mothballed as long as Transocean’s rigs and was tied to a dock, allowing it access to more auxiliary power while parked.) With Pathfinder, and a cousin called the GSF Jack Ryan that’s also being scrapped after its Caribbean cold stacking, Transocean will never know for sure. The Vernier, Switzerland-based company declined to comment for this story. For Transocean and the others that went the cold-stacking route, “this has been a very painful process,” said Greg Lewis, an…

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The Making of a Millionaire and a Massacre

Five days after the deadliest mass shooting in modern American history, Jeremiah Cottle, ashen-faced and unshaven, looks toward the four flags by his company’s front gate in Moran, Texas. There’s the Lone Star State flag, the Stars and Stripes, a POW-MIA one, and another with the green-and-black logo of his company, Bump Fire managers told the court they’d hired subcontractors to make its bump stocks and that they had sold more than 2,000 in Texas alone, Slide Fire’s main market. In court, Slide Fire said Bump Fire’s price-cutting had cost…

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Trump Says Puerto Rico Has Thrown the Budget Out of Whack

President Donald Trump took measure of the widespread damage in Puerto Rico almost two weeks after Hurricane Maria, expressing concern about its impact on the federal budget as his administration finalizes a $29 billion disaster aid request covering a series of major storms. Trump paid a four-and-a-half-hour visit to the island Tuesday, greeting local officials and offering consolation to residents who have been without power and, in many cases, drinking water since the storm struck on Sept. 20. Some in Puerto Rico’s government already are estimating reconstruction costs will be…

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Houston dam begins to overspill as Harvey triggers unprecedented impact

We have never faced this before, we have uncertainty in how the water is going to react official says, as water levels in reservoirs threaten monitoring equipment A vital dam in suburban Houston that protects the central city began overspilling on Tuesday, and officials said the rainfall from Harvey is so unprecedented they do not know what

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Trump visited Texas and just HAD to talk about crowd size

"What a crowd, what a turnout."Image: JIM WATSON/AFP/Getty Images After all these months it’s still unclear whether or not Donald Trump knows he’s not on reality television. Since his inauguration the man has made his obsession with ratings and crowd size very clear, and on Tuesday when he visited Texas for a briefing on Tropical Storm Harvey relief efforts, he just couldn’t help himself from celebrating the really great press that came out of the storm. SEE ALSO: Hey, everyone, please shut up about Melania Trump’s shoes During the trip…

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Trump to visit Houston as storm death toll rises under ‘historic’ flooding

Up to 50in of rainfall expected as storm pours on to a city poorly prepared for inundation, prompting recommendation that residents should take to rooftops Donald Trump will visit Texas on Tuesday, the White House said as tropical storm Harvey brought intense rainfall that threatened historic flooding in Houston, freeways turning into rivers and water rushing into homes in Americas fourth-largest city. As coastal Texas cleaned up from Harvey, which made landfall as a Category 4 hurricane on Friday night before weakening, the storm shifted its attention inland. Amid predictions…

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Mexican laborer: we were told Texas ride that killed 10 would be air-conditioned

Adan Lalravega, who fainted during the sweltering ride in a tractor-trailer, describes hearing children begging for water: People were despairing Adan Lara Vega said he was told the $5,500 he was being charged to be smuggled into the United States would include an air-conditioned truck ride. Instead, the 27-year-old Mexican laborer climbed with his friends into a pitch-black, metal tractor-trailer compartment that lacked ventilation a deadly oven that would

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Jordan Edwards shooting: Texas officer who killed 15-year-old fired

Roy Oliver terminated for violating department policies in shooting, and the police chief said Oliver had committed several violations of policy The officer who shot and killed a black 15-year-old boy who was riding in a vehicle while leaving a house party in suburban Dallas has been fired. The Balch Springs, Texas, officer, identified as Roy Oliver, was terminated for violating department policies in the shooting death of Jordan Edwards, police chief Jonathan Haber said. The officer fatally shot Edwards, a high school freshman leaving a party with four other…

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