The New York Times published what it claims are over two decades of President Trump’s tax returns. They show a pattern of astronomical debt and sustained business losses.
The President has fought viciously in court to keep his tax returns from being released. His team denies that what was published was authentic, but the Times insists that the returns were obtained from people who had legal access to them.
The President has admitted that he is currently under audit. The audit in question seems to be about a $72.9 million tax refund that he claimed and received. If he loses this audit, he would be on the hook for over $100 million in back pay and penalties.
The returns do include 2018 and 2019 but show that as recently as 2017, the President carried more than $421 million in personal debt. It also showed that he paid only $750 in federal taxes in 2017 while paying hundreds of thousands of dollars in Panama, India, Turkey, and the Philippines.
Elbow Bump For The Dollar
Mnuchin and Powell credit: joshua roberts / press pool
The US dollar is having a resurgence in value, hitting a two-month high. The stock market rebounded last week’s losses on Friday, which brought about some measure of confidence.
Experts point to higher yields or inflation-linked bonds. They were cautiously optimistic about the dollar as a safe haven given the economy’s uncertainty and political climate.
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Supermarket chains are stockpiling supplies in anticipation of a second wave of the pandemic. Remind us, when did the first wave stop?
Some grocers have already purchased their stores of Thanksgiving turkeys and Christmas hams and are holding them in freezers, so don’t expect a fresh bird on your table this year!
Household items such as paper towels and cleaning supplies continue to be in short supply, partly because consumers continue to hoard them and partly because people are spending so much time in their homes and using them up. Consumers complain that when they can find paper towels, they can’t find the brand that they want—such a tragedy.
$1,279. That is how much the Zero Breeze Mark 2 portable air conditioner costs. It is about the size of a toaster oven and can cool down a room by 30% in just 10 minutes. It has a small compressor and does not require water or ice.
800 years. That is how old a flock of penguins is thought to be that were found perfectly preserved in ice in Antarctica.
24 hours. That is how long it takes a company called Mighty Buildings to 3D print an entire house. They are already being sold in California.
Do you know what else is hard to find these days? Desks. The Associated Press reports that families who find themselves working and studying from home have had difficulty finding office furniture because it is in such high demand.
According to Rakuten Intelligence, sales of office furniture were up 283% in August compared to last year, a consumer tracking firm. Target, Amazon, Walmart, IKEA are all selling out of desks at record speed. The second-hand market is also thriving, and prices reflect that. Some consumers are taking to building their own, and we imagine many others are doing what we do and using their laptops from the couch cushions.
New Jersey is the first state to ban both plastic and paper single-use shopping bags. While 8 other states already have plastic bag bans, New Jersey will be the first to take it a step further.
The legislature introduced this bill, and the governor is expected to approve it.
Opponents of the bill think that it could hurt small businesses because it discourages customers from buying things if they don’t have a reusable bag. OR it could create positive new behaviors in which we all carry a reusable bag in a purse, suitcase, or car. Customers in these states that do not have a reusable bag can always purchase one for a nominal fee.
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