ibt-mailAug 29, 2024, 10:03 AM

Bipartisan Study Says Trump Plan Would Add $5.8T To Deficit

Newsletter Aug 29, 2024 Quick Six Bipartisan study says Trump plan would add $5.8T to deficit Presidential candidate Donald Trump's economic plans would lift federal deficits by $5.8 trillion over

Newsletter Aug 29, 2024

Quick Six

Bipartisan study says Trump plan would add $5.8T to deficit
Presidential candidate Donald Trump's economic plans would lift federal deficits by $5.8 trillion over the next decade, nearly five times higher than the $1.2 trillion increase projected under Vice President Kamala Harris. According to the nonpartisan Penn Wharton Budget Model, Trump's plan to permanently extend the 2017 tax cuts would add over $4 trillion to the deficit in a 10-year period. His plan to end taxes on Social Security benefits would cost $1.2 trillion, and cutting corporate taxes would add $6 billion.
HOW TRUMP'S ECONOMIC PLAN COMPARES TO HARRIS'

Apple slices workforce as part of a strategic realignment
Apple Inc. has cut its workforce by approximately 100 employees within its services division as part of a strategic realignment within the segment. It comes amid Apple's decision to replace its Chief Financial Officer, Luca Maestri, with Kevan Parekh on New Year's Day. The layoffs impacted some engineering positions, with the most significant reductions occurring in the team responsible for the Apple Books app and Apple Bookstore and Apple News.
APPLE'S LATEST CUTS ARE COMPANY'S FOURTH OF 2024

Buffett's Berkshire Hathaway tops $1 trillion in market value
Google's recent defeat in a federal antitrust ruling opened the company to a lawsuit filed Wednesday by Yelp, another tech giant that allows users to post business reviews. Yelp filed its antitrust lawsuit against Google and parent company Alphabet, alleging a conspiracy to monopolize search engine and advertising markets. Yelp's suit comes after a federal ruling that Google violated US antitrust law, setting the stage for legal action from competitors.
SEE YELP'S STRONG WORDS ABOUT GOOGLE MONOPOLY

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Crooks saw Trump as 'target of oppotunity'

The gunman who attempted to assassinate Donald Trump at a rally in Pennsylvania had done research Trump and President Joe Biden events. Thomas Crooks saw Trump as a "target of opportunity" more than a motive based on any political ideology, an FBI report said. A bullet nicked Trump's ear but killed a rally attendee. Investigators say he had shown an interest in explosives, major events and politicians but they don't have a clear political motive. The Secret Service has come under fire for its preparations. Several agents were put on leave.

FIND OUT THE EVIDENCE THE FBI UNCOVERED ABOUT CROOKS

Swifties harnessing their power for Harris

Taylor Swift has yet to weigh in on the US presidential race, but some of her superfans are already stumping for Kamala Harris. "Swifties for Kamala" have raised more than $140,000 in for the Democratic White House hopeful after an inaugural fundraising call, launching the effort aimed at "turning our swiftie power into political power," as the group's director put it. Stars like Carole King along with Senators Elizabeth Warren and Kirsten Gillibrand appeared in the virtual meeting.

SEE HOW MANY FANS SHOWED UP FOR THE INAUGURAL CALL

Berkshire Hathaway hits $1T in market cap

Warren Buffett's Berkshire Hathaway Inc. briefly crossed $1 trillion in market value on Wednesday, making it the first non-tech firm on Wall Street to hit the milestone. Berkshire Hathaway's market capitalization topped $1 trillion, putting it in an exclusive company with tech titans like Apple, Nvidia and Microsoft. It's the only publicly traded non-tech firm other than Saudi Aramco in the club. In 2024, shares of the company have increased by more than 28%, more than the S&P 500's 18% gain.

HOW BUFFETT BUILT A TEXTILE COMPANY INTO A $1T EMPIRE

Extra point

What was the first company to top $1 trillion in market valuation and when? What company stopped it from becoming the first to $2 trillion?

Wednesday's answer: The Everly Brothers (Don and Phil) became the first siblings to be inducted into the Rock 'N' Roll Hall of Fame in 1986.

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