Tag Archives: US economy

Bloomberg: Key Republican Hopes ‘Revenge’ Tax Will Be a Never-Used Deterrent

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House Ways and Means Committee Chair Jason Smith on Friday defended the provision, called Section 899, which calls for increasing income tax rates on foreign individuals and companies from countries whose tax policies the US deems “discriminatory.

A key House Republican tax negotiator said he hopes the so-called “revenge” measure in President Donald Trump’s tax and spending bill targeting foreign investors will be a deterrent that is never deployed. 

So the next time a narcissist fruitcake like Trump fibs his way into the Oval Office, he will have another tool with which to destroy our economy and alienate any friends that we might have left. Many wise foreign investors and business will simply avoid doing business in the U.S.A.

Bloomberg: Key Republican Hopes ‘Revenge’ Tax Will Be a Never-Used Deterrent

https://www.bloomberg.com/news/articles/2025-05-30/key-house-republican-hopes-revenge-tax-on-foreign-investors-will-never-be-used

Daily Mail: America’s energy revolution goes from boom to bust after Trump’s tariffs and sneaky move by Saudi Arabia

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Oil bosses have warned that America’s energy boom is over, as Trump’s tariffs raise production costs and crude prices fall thanks to an increase in production from Saudi Arabia.  

The shale revolution of the last few years delivered huge volumes of cheap oil and gas that powered the US economy and broke dependence on foreign imports from places such as Iran, Russia and Venezuela.  

Production hit record highs under President Joe Biden, but is now falling under Trump.

The situation presents a direct contradiction to the President’s pledges to ‘drill baby drill’ and assert America’s ‘energy dominance.’ 

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‘Saudi is trying to regain market share and they’ll probably get it over the next five years,’ Sheffield explained. 

America’s energy revolution goes from boom to bust after Trump’s tariffs and sneaky move by Saudi Arabia

https://www.dailymail.co.uk/yourmoney/article-14757637/america-shale-boom-bust-trump-tariffs-opec.html

Guardian: Mass resignations at labor department threaten workers in US and overseas, warn staff – as more cuts loom

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Last month Jihun Han, chief of staff to the US secretary of labor, Lori Chavez-DeRemer, sent a staff-wide email warning they could face criminal charges for speaking to journalists about agency business.

“All of the core aspects of working life can no longer be assumed, because the Department of Labor was chronically underfunded for a long time, and eliminating half the staff, or whatever their goals are, will cause it to be absolutely dysfunctional,” the BLS employee said. “I think it’s catastrophic.”

Paranoid, anyone?

Ever heard of the First Amendment?

Mass resignations at labor department threaten workers in US and overseas, warn staff – as more cuts loom
A “catastrophic” exodus of thousands of employees from the US Department of Labor threatens “all of the core aspects of working life”, insiders have warned, amid fears that the Trump administration will further slash the agency’s operations. The federal agency has already lost about 20% of its workforce, according to employees, as nearly 2,700 staff took retirement, early retirement, deferred resignation buyouts or “fork in the road” departures…

https://www.msn.com/en-us/news/us/mass-resignations-at-labor-department-threaten-workers-in-us-and-overseas-warn-staff-as-more-cuts-loom/ar-AA1E6aS3