Trump seeks Mexican import tax to pay for border wall

President Donald Trump will seek a tax on goods imported from Mexico and use the revenue to build a border wall, the White House spokesman has said. The plan was announced just after the Mexican president cancelled a visit to Washington, amid a row sparked by the question of who will pay for the wall. But soon after revealing it, the White House said that was only one option. Mr Trump on Wednesday signed an executive order to create a wall on the US southern border with Mexico. Making Mexico foot the bill (which Republicans say could be $12-15 billion dollars) was one of his key election campaign pledges. But President Enrique Pena Nieto has always insisted that will not happen and on Thursday he pulled out of next week's White House meeting. Hours later, White House spokesman Sean Spicer told reporters the president had discussed the funding proposal with lawmakers, and it could be part of a tax reform package the US Congress is planning. He said that a 20% tax could generate approximately $10 billion in tax revenue per year. This is thought to be a good budget for the production of the wall.

1. Do you think it is fair to place a 20% tax on all Mexican imported goods?

2. Will this plan actually get approved and come into play?

3. What other plan could be made that would be more fair?

The next recession now appears further away, thanks to Trump, economist says

With Donald Trump being the new president of the US, experts believe that the next recession for the US economy has been pushed back as far as two years now. Only seven months before the 2016 election, economists had speculated that the next economic recession would take place in 11 months, however, Deutsche Bank's chief international economist has stated that with the election of Donald Trump, it has reduced the chance of a recession occurring in the near future. However, within the first week of  being president, Trump had imposed an executive order for an immigration ban. This has significantly impacted NASDAQ, the second largest exchange in the world, and dropped it down a lot more than it had ever dropped in previous months. In the end, economists are quite optimistic about the economic future of the US since they predict that inflation as well as economic stimulation will be under control for the next few years.

1. Aside from some very controversial executive orders, do you think Trump is actually helping out the economy so far like he promised?

2. Do you think that this minor economic success will continue to grow over the next four years?

3. Trump had claimed that he would listen to the people when he made decisions to boost the economy and give more people jobs. Do you think he is listening to the people and considering what they are saying for other social issues?

Source: http://www.cnbc.com/2017/01/30/the-next-recession-now-appears-further-away-thanks-to-trump-economist-says.html

Trump’s Talk About Muslims Led Acting Attorney General to Defy Ban

     In Washington, Ms. Yates’s outgoing personality made her a counterpoint to Attorney General Loretta E. Lynch, who is more reserved. At times, that made Ms. Yates the face of the Justice Department in ways that caused tension with the attorney general’s staff. Ms. Yates was regarded as professionally ambitious, though she has told friends that she has no interest in running for political office. Her firing capped three days of internal deliberations at the Justice Department. Like many others in the government, Ms. Yates, was caught by surprise Friday night by Mr. Trump’s executive order temporarily stopping all refugees from entering the country and indefinitely blocking immigration or visits from seven predominantly Muslim countries.The Office of Legal Counsel of the Justice Department had reviewed the order and signed off on its legality. But Ms. Yates and her staff lawyers believed that the department had to consider the intent of the order, which she said appeared intended to single out people based on religion.
 1.) Do you believe that Donald Trump can eliminate the immigrants to come through U.S?

 2.) Do you think Trump can deport the illegal immigrants?

 3.) What are your thoughts about Trump and his decision about immigrants?

https://www.nytimes.com/2017/01/31/us/politics/sally-yates-trump-immigration-ban.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=b-lede-package-region&region=top-news&WT.nav=top-news

The White House hints that tax reform could pay for the border wall

White House press secretary Sean Spicer reported that the Trump administration was leaning towards implementing a border adjustment tax to pay for the so called wall. The border tax essentially taxes a corporation's imports ( by 20%) while subsidizing their exports, compared to the current system of corporate taxing which is taxes based on corporations net revenue. This is indirect taxing. This will result in a larger tax revenue as the country imports a lot more than it exports.  

Some positive elements of this form of taxation is that it will encourage companies to produce goods in this country instead of importing. It will also encourage them to not move company production offshore as it will not tax corporate income. And technically Trump will be able to get money from mexico by taxing Mexican imports.

  Some negative effects of this taxation is that prices on imports will rise to compensate for the additional taxes Trump will place. This taxation will also have negative impact on companies that are large importers

Questions:

Should corporations be taxed less?

Do you think the border tax would be effective? or should we stick to our current form of taxation?

http://www.economist.com/blogs/democracyinamerica/2017/01/taxes-and-tariffs

Trump moves to 'build that wall' with Mexico, curb refugees

President Trump has began to put forward with what he said about building the wall on the border dividing the United States and Mexico. Recently MSNBC interviewed House Speaker Paul Ryan, where he said that congress was going to work with Trump on the upfront financing the wall. MSNBC asked him about the estimated cost for this project. He said the possible cost for the construction of this wall was going to be between $8 to $14 billion. This is a very high cost and Trump's plan on how he plans on paying for the wall is really unsteady. He had previously said that Mexico was going to pay for this wall but Mexico's president clearly stated that Mexico would pay for no wall. Therefore, the initial costs are to come from U.S. taxpayers. On top of all this, the president plans on hiring 5,000 additional border patrol agents and 10,000 immigration officers. Which eventually will lead to an additional cost. 

1. Do you believe $8-14 billion dollars are worth the investment in this wall? Do you think the wall will be beneficial to this country?

2. Is it fair for U.S. tax payers to pay for this wall even if they oppose this idea? 

3. What are the tradeoffs of building the wall? 

http://www.usnews.com/news/politics/articles/2017-01-24/trump-to-move-on-border-security-immigration-enforcement

What about the DREAMers?

President Obama program the Deferred Action for Childhood Arrivals (DACA) has helped nearly 750,000 young people who are referred to as DREAMers. This program has helped this DREAMers to obtain a valid driver's license, enroll in college and legally secure jobs. Since Trump's election many people who are undocumented immigrants have been living in fear, of his words and threats towards undocumented immigrants.  One of Trump’s focus are “ those who are in this country illegally and have a record, a criminal record or pose a threat to the American people.” Getting rid of the DACA would put this people in harm of being deported. There is one option that could still turnover the DACA but protect the DREAMers from being deported called the BRIDGE Act. Those who would be protected must meet criteria that was established under DACA. They must have arrived in the U.S. before their 16th birthday and have lived in the country continuously since June 15,2007.

Do you think it is far for Trump to get rid of the DACA?

How would you feel if you were an undocumented immigrant?

Do you think the BRIDGE Act will protect the undocumented immigrants from being deported?

http://money.cnn.com/2017/01/24/news/economy/daca-undocumented-immigrants/index.html?iid=hp-stack-dom

Trump: What now for countries in the US-led TPP?

Trump’s first act of business as he promised previously, to pull the United States out of the trans Pacific Partnership (TPP). which covers 40% of the world’s economic output. 12 countries signed up to the TPP back in February 2016 and the agreement was negotiated with the former president Obama, the goal of the agreement was to deepen economic ties between the 12 countries (Japan,Malaysia, Vietnam, Singapore, Brunei,Australia, New Zealand, Canada, Chile ,Mexico and Peru) Trump was clear from the very beginning of the election and promised his voters that he is going to pull out US and he was against it. Even though Asia had enough time to prepare for Trump’s decision, but they still think it will affect everybody. Asia thinks that Trump’s decision will hurt everybody including USA. Obama said the agreement would boost U.S. exports and strengthen Washington’s relationships in the Asia pacific, Trump thinks the opposite saying it was a bad deal and we should get out of it as he did the first day he spent in the office.

1. Do you think Trump did the right thing or no?
2. Will this hurts U.S. economy and the exports trade?
3. Who are the winners and the losers of Trump’s decision?

http://www.bbc.com/news/business-38725807

A Higher Minimum Wage in 2017

https://www.nytimes.com/interactive/2017/01/05/business/economy/state-minimum-wages.html?ref=economy&_r=0

The federal minimum wage has remained unchanged since 2009, staying at $7.25 an hour. Many states are individually taking action to raise this pay in their own states. Many say that raising the minimum wage will improve the lot of the least-skilled workers. In contrast, some economists are concerned that by raising these prices, jobs could face slower creation rates and cuts due to business owners combating the higher labor costs. So far in 2017, 19 states have raised their minimum wages, but most raises were less and a dollar. These small raises have been linked to inflation rates. The raises will have the most effect in states where there is a high percentage of workers in low-wage jobs. 

What do you believe are some of the good results that will come from a raise in the federal minimum wage?

What do you believe are some of the bad results that will come from a raise in the federal minimum wage?

In analyzing both of the advantages and downfalls of raising minimum wage, do you believe that the federal minimum wage should be raised?

President Trump's Proposals for Taxes

Article

With Trump's new presidency, he will be proposing tax cuts that he has mentioned during his campaign. Trump wishes to reduce personal income taxes so that there are only three brackets. Trump would also like to repeal alternative minimum tax and estate tax. While his proposals may benefit some, they might not benefit others. Trump would like to repeal personal exemptions, which would require households with three dependents or more to pay more in taxes.

Questions:

Do you think Trump's tax proposal will benefit the nation?

Do you think Trump's proposal will be successful?

Will repealing personal exemptions be the downfall to Trump's proposal?

Ethical Gift Market Helps Oxfam Post Highest Christmas Sales for Five Years

Oxfam has reached its highest sales in the last five years because of the increase in demand for secondhand clothes and gifts. The organization has 650 shops nationwide and has had a $1.7 million boost to end poverty and suffering. There has also been a 9% increase in virtual gifts such as safe water. They attribute this success to improved shop fronts, gift ranges, and opening hours. WIth this success, Oxfam has been able to increase the funds towards humanitarian crises like Yemen, Syria, and South Sudan. However, this success has a lot to do with location as well, for several other charity stores did not increase their revenue this year. Despite this, the overall trend is that demand is increasing, attributing to the greater funds for humanitarian efforts.

1. How does Oxfam’s increase in demand and sales connect to the factors of economics that we discuss in class?
2. What advertising methods do you think are used to increase such revenue?
3. What humanitarian crisis do you think should be prioritized with this increase in funding?

https://www.theguardian.com/society/2017/jan/12/ethical-gift--oxfam-highest-sales-five-years

GM (General Motors) announces $1B investment affecting 1,500 jobs

Tuesday Morning, January 17, 2017 General Motors announced a 1 billion dollar investment in its factories that will create or add 1,500 jobs. The investment is a normal process as they are simply just equipping factories to build newer and better models of automobiles and this has been planned to happen for months now. This idea had been brought up because of their axle production that was previously done in Mexico, but had been moved to Michigan and GM had said that within the next several years, the jobs created would reach up to 7,000 jobs available. The reason why GM had moved their axle production to Michigan is because President Trump had been attacking all automaker companies for making products in Mexico and having them shipped into the U.S. 


1) Do you think if Donald Trump had never attacked them, GM would have thought of this idea?

2) With an increase in jobs, would the pay of other jobs with in the company be affected? 




http://www.cbsnews.com/news/gm-to-announce-1b-investment-affecting-1000-jobs-source-says/

More People Over 60 Are Struggling To Pay Off Student Loans, Report Finds

People over 60 still suffer form student loan debt. However, that number of people has quadrupled in the last decade in the US. "Older Americans now represent the fastest-growing segment of the U.S. student loan market, according to a new report by the Consumer Financial Protection Bureau." As of 2015 we have about 2.8 million people over 6o that are still in student loan debt. A majority of these people are parents or grandparents of the children they took out the loans for in order to finance education for young people. Some private student loans require the student to have a co-signer. That co-signer is usually 55 or older. The average amount owed in 2005, from people over the age of 60, was $12,000. In 2015, it was over $23,000. The CFPB reported that many of these borrowers are having trouble paying these loans back because of their move into retirement. 

These are the following reasons: 

• An increased rate of late and missed payments by borrowers 60 and over
• A high rate of default among borrowers 65 and older (37 percent of federal student loan recipients in that age group are in default, compared to just 17 percent of borrowers 49 and under)
• Older student loan borrowers report they forego basic health care needs more often than those without student loans.
• A growing number of Americans losing part of their Social Security benefits due to unpaid federal student loans. Student loans are one of the few exceptions to rules that protect federal benefits from being garnished.

Discussion Questions:

1. Should minimum wage be raised in order for students to help pay for college?

2. Should college tuitions be lowered so that the maximum amount will not have not have to be taken out for a loan? 

3. Should college just be tuition free? 

states can offer a lesson as GOP proposes deep cut taxes

On Tuesday, January 10th, 2017, Arkansas Governor Asa Hutchinson, addressed to a joint session 91st general assembly at the state capitol in Little Rock, Ark. president elect Donald Trump and congressional republicans have said they will cut federal taxes in order to boost the economy. But some states have already done so only to see their plan fail and have budgets widen. Hutchinson warned the state last year and said, "It does not take a Ph.D. in economics to know that we can't say yes to every spending need, and we should also not say yes to every tax-cut idea," A recent associated press survey found that 33 states are currently dealing with a budget shortfall or expect to have one in the fiscal year. Experts said that economic growth has been slower than they expected with the revenue in some places failing to meet and keep up with rising spending needs.

Do you think cutting taxes will help the economy?

Should donald trump take precautions before going through with his plan?

Do you agree with Hutchinson when he says "It does not take a Ph.D. in economics to know that we can't say yes to every spending need, and we should also not say yes to every tax-cut idea,"?



http://www.sfgate.com/business/article/States-can-offer-a-lesson-as-GOP-proposes-deep-10862442.php

How Washington could hurt the oil recovery, just as US drillers are pumping again

Article

With all the plans to impose a new border tax on all imports, there is a high likelihood that the power of the dollar will increase. But though this may seem like a good thing for our country economically, it does have some negative side effects. It will hurt new markets that are emerging everyday that our economy relies on to grow. Through this process, the price of oil will also continue to rise which will be bad after the spike in oil prices we’ve experienced over these past couple years. Now especially, more countries continue to have a higher demand for oil with the demand for oil being 97 barrels a day according to the International Energy Agency. The growing demand will only become a bigger problem if Washington decides to go through with some of its congressional tax proposals.

1. Do you think taxing all imports is a good idea?
2. How do you think Trump’s presidency will affect our economy?
3. Do you believe we should focus on finding other fuels to stop this increase in oil demand?

Gadget Mountain Rising in Asia Threatens Health, Environment

Link to Gadget mountain rising in Asia threatens health, environment Article

The amount of discarded electronic gadgets and electrical appliances has reached severe levels in East Asia. The amount of waste poses a growing threat to health and environment. China is one of the biggest culprits with its electronic waste more than doubling. However, nearly every country had a massive increase between the years of 2010 to 2015, including the growing mountain of discarded phones, computers, TV, air conditioners and other items. Only South Korea, Taiwan, and Japan have established recycling systems based on laws that were introduced in the 1990's. A study shows that the open burning and unsafe recycling is associated with a slew of health problems for workers and communities near recycling operations. These problems can include infertility, childhood development problems, impaired lung function, liver and kidney damage, inheritable genetic damage and mental health problems.

1. What can be done about the raising levels of trash?

2. Do you think we should follow the examples of South Korea, Taiwan, and Japan and implement recycling laws?

3. Should we continue to be making more electronic gadgets if it costs us our health and rise of trash in our community?

How Obama's Jobs Record Stacks Up

How Obama's Jobs Record Stacks Up

President Obama's first jobs report in February of 2009 showed that 598,000 jobs had been lost in January and unemployment was 7.8%. His final jobs report, which came out on Friday, Jan 6, 2017 showed 156,000 jobs added in December and an unemployment rate of 4.7%. When compared with other recent presidents, his job growth numbers are weaker than Reagan and Clinton, but stronger than Bushes. President Obama tied President Clinton with a 3.1% drop in unemployment over eight years, the best record since WWII. Labor force participation rate among men ages 25-54 dropped as has been the case under many other presidents in recent decades. Perhaps where Obama gets the most credit is for guiding the U.S. out of the Great Recession and handing a low unemployment rate to President-elect Trump.

1. Looking at his jobs data in the article, how would you evaluate President Obama's economic record?

2. Why do you think the labor force participation rate continues dropping for 25-54 year old men?

3. Do you see the economy continuing to improve under President Trump, holding steady, or declining? Why?

Let's build infrastructure, but we better make it smart

Let's build infrastructure, but we better make it smart

This article explores the possibility of modernizing U.S. roads, bridges, airports, ports, railroads, electric grids, and more. It considers a future with autonomous cars and drone delivery and asks the question of how much the Trump administration would be willing to invest in further developing these technologies. Colorado is already exploring the possibility of vehicles communicating with streetlights and other features around the roads.

1. Is it worthwhile for governments to invest in smart infrastructure and cities?
2. Would you be open to traveling in autonomous cars?
3. Given that it takes time to develop smart technology and cities, which should be prioritized? What would be most helpful for society?