Economic News 1/3/18

Return to Reasonable Deficit Doubtful

Other Stuff

Tax Bill in 10 Years
Maybe this will Activate the Sanders base

Trump Estimated Income Tax Saving before Payroll Taxes and Other Deductions
Fast Food Cook Average salary: $20,570 2017 tax: $1,059 2018 tax: $857 Percent tax cut: 19.1%	Machine Feeders Average salary: $30,490 2017 tax 2,547 2018 tax: $2,028 Percent tax cut: 20.4%	Mechanics Average salary: $40,860 2017 tax: $4,014 2018 tax: $3,273 Percent tax cut: 18.5%		Firefighter Average salary: $50,520 2017 tax: $5,214 2018 tax: $4,432 Percent tax cut: 15.0%	Sheet metal Average salary: $51,080 2017 tax: $5,322 2018 tax: $4,537 Percent tax cut: 14.7%
$202/year or $3.89 -per week-	$529 per year or $10.17	$741/ year or $14.25		$782 per year or $15.04 per week	$785 per year or $15.10
Editor's Note: Media US salary is about $60,000			Data Source businessinsider.com

Very Early Data

us government posts 147 billion deficit in may

The “Trump Tax Cut" Numbers Are Starting to Trickle In - and They’re Not Good…
(Lee Adler, Sure Money) LA has contributed to GEI. W

Withholding tax collections rebounded from a deep trough in April, in the month ended May 31.

The new tax cuts took effect in January, but IRS did not publish new withholding tables until mid-February.

We see the effects there.

A new range in the year to year comparison is now being established.

May now shows a slight acceleration vs. April.

U.S. goods and services trade with Canada totaled an estimated $673.9 billion in 2017.
Exports were $341.2 billion; imports were $332.8 billion.
The U.S. goods and services trade surplus with Canada was $8.4 billion in 2017.
Source U.S.-Canada Trade Facts (Office of the United States Trade Representative)

Firefighter

Sheet metal