Friday, September 29, 2017

President Trump outlined the GOP’s plan for tax reform

It includes slashing the corporate tax rate from 35% to 20%, reducing the number of individual tax brackets from seven to three, and nearly doubling standard deductions for individuals and married couples. The broad strokes plan “ leaves many crucial details to congressional committees to fill in,” including how much of the proposals will be funded. “Everyone has a stake in the tax reform fight, and everyone is going to be very loud about what they want,” sources say. (Axios)


A tale of star-crossed iPhones

Production troubles earlier this summer already pushed the iPhone X release to November 3, and now another piece of new tech is further slowing the process and could limit supply. Facial recognition screens depend on two components — nicknamed Romeo and Juliet — that aren’t in sync; Romeo modules are taking longer to produce than Juliet modules, creating an output bottleneck. The slowdown is adding to anxiety about shortages of the company’s latest flagship phone. (Wall Street Journal)


America’s top 1% control a record 38.6% of the country’s wealth

The gap between rich and poor has also widened quickly, with the bottom 90% taking home less than half of total income last year, for the first time since the Fed began calculating the statistic in the 1980s. America’s wealthiest gained the most between 2013 and 2016, but household wealth for African-Americans, Hispanics, and those without high school diplomas grew fastest — and started from a much lower point. All groups saw growth in the period, a sign that the recovery after the financial crisis is continuing. (CNBC)


California may go gasless

California may follow in the footsteps of China, France and the UK by banning the sale of combustion engine vehicles to reach its goals for cleaner air. The move would have significant ramifications for the automobile industry: The Golden State sees more than 2 million new passenger vehicles registered each year, more than France, Italy or Spain — meaning that big car makers like General Motors would need to shift their production to focus more on electric vehicles and away from gas- and diesel-powered cars. California hopes to cut 1990 emissions levels by 80% by 2050. (Bloomberg)


Trump waives Jones Act shipping restrictions for hurricane-ravaged Puerto Rico

President Trump waived shipping restrictions for Puerto Rico on Thursday at the request of the island’s governor and after an outcry from Congress about shortages of fuel, food and emergency supplies in the wake of Hurricane Maria. The decision temporarily lifts the Jones Act’s restrictions prohibiting foreign-flagged vessels from picking up and delivering fuel between U.S. ports.  A one-two punch by Hurricanes Irma and Maria battered the island in recent weeks, leaving residents with shortages of all supplies. Maria wiped out the power supply, destroyed cell towers and led to massive fuel shortages on the island that relies on diesel for much of its power. (USA Today)


Hugh Hefner, iconic founder of Playboy, has died at age 91

Hugh Hefner, the founder of Playboy magazine, died Wednesday at his Beverly Hills-area home, the Playboy Mansion, at age 91.  Playboy Enterprises said he died of natural causes. The magazine was founded more than 60 years ago and created a niche upscale men’s magazine, combining images of nude women with in-depth articles, interviews and fiction by writers and subjects including Norman Mailer, Alex Haley, Bertrand Russell and Jimmy Carter. Hefner reportedly founded the magazine with $600 and $1,000 borrowed from his mother. The first centerfold, a feature of the monthly magazine, was of Marilyn Monroe late in 1953. (CNBC)


It’s A Feelin’ Good FRIDAY!!!! Whooo Hooo!! It brings:

*Ask A Stupid Question Day  (Last School Day of the Month)
*Hug A Vegetarian Day  (Last Friday)
*International Coffee Day 
*MAGS Day 
*Mutation Day (Teenage Mutant Ninja Turtles) 
*National Biscotti Day 
*National Attend Your Grandchild’s Birth Day 
*National Gay Men HIV AIDS Awareness Day  (Last Friday)
*Save The Koala Day  (Last Friday)
*Support Purple for Platelets Day (Last Friday)
*Vegan Baking Day (Last Friday)
*VFW Day 
*World Heart Day 
*Yom Kippur 

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