Friday

Confirmed: American businesses and consumers are paying 'approximately 100%' of Trump tariff costs

CC™ Business and Finance 

President Trump made over 100 claims about China and tariffs in 2019, stating that Beijing was paying “tremendous amounts of tariffs.”

However, new research from the National Bureau of Economic Research (NBER) found the opposite. 

“U.S. tariffs continue to be almost entirely borne by U.S. firms and consumers,” the NBER working paper stated. “Similarly, we also find that the substantial redirection of trade in response to the 2018 tariffs has accelerated.”
The Trump administration has placed tariffs on $550 billion worth of imports from China, and China has slapped tariffs on $185 billion worth of imports from the U.S. since the trade war between the two countries began in March 2018.
On August 3, 2019, Trump claimed that “our consumer is paying nothing” in regard to the tariffs, but NBER stated that “approximately 100% of these import taxes have been passed on to U.S. importers and consumers.”
American consumers and businesses paid at least $42 billion for the tariffs as of October 2019, according to an analysis from Tariffs Hurt the Heartland (THH). In October 2019, the trade war cost an additional $7.2 billion through tariffs, an $1 billion increase from October 2018. 
Trump has made several inaccurate claims about the tariffs on China: he’s said that the U.S. is taking in “billions” from China, that the money is being passed along to American farmers bearing the brunt of the retaliatory tariffs, and that the tariffs would boost blue-collar jobs in the U.S.
recent study from the Federal Reserve indicated that the tariffs have actually led to a loss of jobs, especially in manufacturing. 
“While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector,” the Fed study stated.
Steel is one of the industries hit hardest by tariffs, with foreign firms preemptively lowering prices and American firms struggling to compete with the market reaction. Detroit-based company U.S. Steel was forced to lay off 1,545 employees back in December 2019, partially due to struggles from Trump’s steel tariffs. 
“The data show that U.S. tariffs have caused foreign exporters of steel to substantially lower their prices into the U.S. market,” NBER’s paper stated. “Thus, foreign countries are bearing close to half the cost of the steel tariffs. Since China is only the 10th-largest steel supplier to the U.S. market, these costs have been largely borne by regions like the EU, South Korea, and Japan.”
Source: Adriana Belmonte - Associate Editor for Yahoo Finance.

Monday

Troubling reports of Iranian-Americans being questioned on their political allegiances upon entering US

DOMINICK REUTER / REUTERS
CC™ News

More than 60 Iranians and Iranian-Americans have been detained at length and questioned at the US border with Canada, according to advocacy groups, as the crisis over the killing of Qassem Soleimani escalates.
The Council on American-Islamic Relations (CAIR) reported those who were detained had their passports confiscated and were questioned about their political views and allegiances.
“These reports are extremely troubling and potentially constitute illegal detentions of United States citizens,” Masih Fouladi, the executive director of CAIR-Washington, said in a statement.
The advocacy group has also claimed a source at US Customs and Border Protection (CBP) said a national order has been issued to report and detain anyone with Iranian heritage entering the country who is deemed “potentially suspicious”, regardless of their citizenship status.
CBP has denied any such directive is in place and insisted reports of Iranian-Americans being detained on social media were false.
“Social media posts that CBP is detaining Iranian-Americans and refusing their entry into the US because of their country of origin are false,” CBP wrote on Twitter.
“Reports that DHS/CBP has issued a related directive are also false.”
However, the National Iranian American Council also said it had spoken to Iranian-Americans who were detained for hours at borders and airports over the weekend and asked about their views on Iran.
The allegations come amid heightened tensions between the US and Iran after top Iranian general Soleimani was killed in a US airstrike order by Donald Trump last week.
His death marks a major escalation in tensions and has been followed by threats of further attacks by both countries.
On Sunday, Iran announced it would no longer respect restrictions on enrichment of uranium introduced under the 2015 international nuclear agreement.
Meanwhile, Iraqi MPs passed a non-binding resolution calling for foreign troops, including about 5,000 US soldiers, to leave its country in response to the attack.
Mr Trump has threatened severe sanctions and attacks on cultural sites if Iran retaliates against the US over the killing.
Pramila Jayapal, a Washington congresswoman, has said she is “deeply disturbed” by reports of Iranian-Americans being detained at the border, while Jay Inslee, the governor of Washington, has said his office is “closely tracking” the situation.
Mr Inslee later added that the Department of Homeland Security (DHS) had told his office there was no order issued to detain or refuse entry to Iranian-Americans but his team was continuing to seek answers from officials.
One woman, who was allegedly detained and interrogated for more than 10 hours at the border crossing, said the majority of people who were held were American citizens.
“We kept asking why we were being detained and asked questions that had nothing to do with our reason for travelling and were told ‘I’m sorry this is just the wrong time for you guys,’” the woman told CAIR.
On Saturday, DHS updated its National Terrorism Advisory System to warn that Iran could retaliate against the US through cyberattacks or attacks by “homegrown violent extremists”.
However, the department acknowledged that it had “no information indicating a specific, credible threat” at this time.
CAIR Washington has said it believes everyone who was detained has now been released but the group will continue to monitor the situation.
Source: Independent

Sunday

Bill Gates calls for higher taxes on the rich

Bill Gates
CC™ Introspective

Microsoft co-founder Bill Gates started the last decade worth more than US$50-billion and with a pledge to give away his fortune to charity.

By the end of the decade, he'd donated billions of dollars to fight poverty and improve health care and education. But his fortune also more than doubled during the period, a result of soaring stock markets and favourable tax policies.

And so in a fitting end to the decade, the world's second richest person said he wants his fellow billionaires to pay much higher taxes.

US lawmakers should close loopholes, raise the estate tax and hike the capital gains tax so that it equals the rate on labour income, Gates wrote on Monday in a year-end blog post.

He also called for states and local governments to make their taxes "fairer" and reiterated his support for a state income tax in Washington, where he lives.

"I've been disproportionately rewarded for the work I've done - while many others who work just as hard struggle to get by," he wrote. "That's why I'm for a tax system in which, if you have more money, you pay a higher percentage in taxes. And I think the rich should pay more than they currently do, and that includes Melinda and me."

Gates, 64, has a net worth of $114 billion, according to the Bloomberg Billionaires Index, a ranking of the world's 500 richest people.

At an event in November, Gates expressed reservations about the wealth tax proposed by presidential candidates Elizabeth Warren and Bernie Sanders. In his blog post, Gates said he won't take a position on the various proposals being debated during the campaign.

"But I believe we can make our system fairer without sacrificing the incentive to innovate," he said.
"Americans in the top 1% can afford to pay a lot more before they stop going to work or creating jobs. 

In the 1970s, when Paul Allen and I were starting Microsoft, marginal tax rates were almost twice the top rate today. It didn't hurt our incentive to build a great company."

Source: Tech Central

Tuesday

Trump and Obama tie for America's most-admired man.....

America's most admired men - Trump and Obama
CC™ Political News

President Donald Trump and former President Barack Obama have tied for the title of Americans’ most admired man, according to Gallup’s annual survey — marking the first time the current commander in chief has achieved the distinction and the 12th consecutive first-place showing for his immediate predecessor.
Eighteen percent of U.S. adults nominated Trump when asked which man “living today in any part of the world” they admired most, while another 18 percent identified the most recent Democratic president.
The results of the poll, conducted Dec. 2-15, were split sharply along party lines, with 45 percent of Republicans selecting Trump for the honor and 41 percent of Democrats opting for Obama.
Trump captured the support of 2 percent of Democrats and 10 percent of independents, while Obama garnered 3 percent support from GOP respondents and 12 percent from independents.
Last year, 13 percent of Americans chose Trump as the most admired man, and 14 percent picked him in 2017, the first year of his presidency. He placed second to Obama in both surveys.
Apart from the two presidents, no other man attained the votes of more than 2 percent of those questioned in the 2019 poll.
Rounding out the list of Americans’ 10 most admired men are former President Jimmy Carter, technology entrepreneur Elon Musk, Microsoft co-founder Bill Gates, Pope Francis, Vermont Sen. Bernie Sanders, California Rep. Adam Schiff, the Dalai Lama and investor Warren Buffett.
Among Americans’ most admired women, former first lady Michelle Obama claimed the prize spot for the second year running and was the only woman to achieve double-digit support.
The other top-ranking women include first lady Melania Trump, former talk show host Oprah Winfrey, former Secretary of State Hillary Clinton, climate activist Greta Thunberg, Queen Elizabeth II, House Speaker Nancy Pelosi, Supreme Court Justice Ruth Bader Ginsburg, Massachusetts Sen. Elizabeth Warren, German Chancellor Angela Merkel and former U.S. Ambassador to the United Nations Nikki Haley.
Source: Politico

Monday

Buhari condemns ISWAP execution of 11 Christians..... But his government still does nothing about it

President Muhammadu Buhari gestures at reporters
CC™ Nigeria News - By Rasheed Sobowale

The Nigerian President, Muhammadu Buhari has condemned the execution of Christians by Islamic State of West Africa Province, (ISWAP) on Christmas Day. 

President Buhari said he is “profoundly saddened and shocked” by the action of the “psychopaths” and that “no true Muslim would be shouting ‘Allahu Akbar' while killing innocent people”.

Buhari also reassured Nigerians that “the collective security of all Nigerians” is his “major preoccupation” and “will continue to intensify efforts towards strengthening international cooperation and collaboration to break the backbone of these evil doers.”

“I am profoundly saddened and shocked by the death of innocent hostages in the hands of remorseless, godless, callous gangs of mass murderers that have given Islam a bad name through their atrocities,” Buhari said.

“We should under no circumstances let the terrorists divide us by turning Christians against Muslims, because these barbaric killers do not represent Islam and millions of other law-abiding Muslims around the world.

“As a President, the collective security of all Nigerians is my major preoccupation and the death of an innocent Christian or Muslim distresses me.

“No true Muslim would be shouting ‘Allahu Akbar' while killing innocent people, an evil frequently condemned by the Holy Qur’an.

“These agents of darkness are enemies of our common humanity and they don’t spare any victim, whether they are Muslims or Christians, and therefore, we shouldn’t let them divide us and turn us against one another.

“The goal of these psychopaths is to cause confusion and spread distrust between Muslims and Christians, despite the fact that they aren’t representing the interest of Muslims or Islam.

“While I condemn this evil, I wish to reassure Nigerians that this administration will not lower its guard in the war against terrorism.

“We will continue to intensify our efforts towards strengthening international cooperation and collaboration to break the backbone of these evil doers.”

The Nigerian President, Muhammadu Buhari beckoned on all Nigerians to stand united against terrorism and to avoid unhelpful conspiracy theories that serve the interest of Boko Haram terrorists and ISWAP.

The Nigerian Army has maintained sealed lips on the incident even though Vanguard correspondent tried to reach them.

The acting Director of Defence Information, Brig. Onyema Nwachukwu, while responding to Vanguard’s inquiry on the veracity or otherwise of the report, referred the matter to the Nigerian Army, saying it was the army’s place to react.

But several calls made to the known mobile phone line of the acting Director of Army Public Relations, Col. Sagir Musa, were not answered.

A follow-up text message sent to the number was yet to be responded.

Source: Vanguard 

Friday

Rudderless technical department of Nigeria Football Federation to decide fate of controversial German coach Rohr

Amaju Pinnick has presided over worst NFF in modern history
CC™ Sports

Nigeria Football Federation's (NFF) Secretary-General, Mohammed Sanusi has revealed that the decision on the future of Super Eagles' Manager, Gernot Rohr would be taken solely by the technical committee of the federation. Reacting to the stories making the rounds that some influential people were working to see the exit of the Franco-German from the national team, Sanusi said no external force could influence the fate of the coach.


"I am not in the position to speak on the hiring and firing of national team coaches. The NFF technical department is in charge and if they find Rohr capable to continue handling the Super Eagles and the coach also agrees on their contract terms and conditions,so be it.
"But in my position as the NFF secretary, I cannot say whether Rohr's contract will be renewed or not. It is not my job."Commenting on the CAF Footballer of the Year Awards, which final shortlists were released at the weekend, Sanusi said no Nigerian player made it to the final three in the men's top award because the Super Eagles did not play in the final game of this year's African Nations Cup.

CAF on Sunday announced Algeria's Riyad Mahrez, Mo Salah of Egypt and Sadio Mane of Senegal as the three finalists for the CAF Footballer of the Year award, while Odion Ighalo, who was formerly in the running, was left out.Sanusi told The Guardian that Ighalo's outstanding performance in the Nations Cup qualifying series and the AFCON was enough to make the Shanghai Greenland Shenhua FC of Chinaforward a top contender for the award.

He noted that the Super Eagles' dominance in the continent in recent times has shown that Nigerian players are not pushovers in African football.Sanusi called on football lovers not to write off Nigerian players, saying that they have the wherewithal to winlaurels for the country, adding that the federation would do its best to continue encouraging Nigerian footballers home and abroad.

"Ighalo not making the final three-man cut in the African Footballer of the Year award does not mean Nigerian players are not doing fine in soccer. But I think the Super Eagles failure to play in the finalof the 2019 AFCON is one of the reasons Ighalo could not be among the three shortlisted players.

"Nigeria have been dominating other African teams in friendlies, Nations Cup qualifiers and the AFCON championship. These performances show that the countryis a force to be reckoned with in football at the senior men's national team level."Nigerian playersare doing their best to raise the standard of their game in a bid to improve their profile in the continent," he said.

Wednesday

What's open Christmas Day? The list includes CVS, Starbucks and 7-Eleven — but not Walmart

CC™ Checklist

Whether you forget an ingredient for the Christmas meal, a gift or want to go out to eat, your options will be limited Wednesday.
Christmas is the one day of year that the nation's largest retailer, Walmart, closes all of its locations and several regional and national stores also follow suit.
According to Womply, a small business software provider, 92% of local retailers are closed on the holiday and four out of five restaurants are closed.
But all hope isn't lost. 
Your mileage may vary on how far you'll have to drive for any forgotten items but drug stores including CVS and Walgreens will be open on the holiday. So will several convenience stores including 7-Eleven, Wawa and Cumberland Farms.
Many major restaurant chains also will be closed Wednesday but many Starbucks, McDonald's and Dunkin' locations will be open, along with IHOP, Denny's and Waffle House.
Delivery services including PostmatesGrubhubUberEats and DoorDash will be delivering food orders Christmas for participating local and national restaurants. Check the apps or websites Wednesday to find available options.

What stores are open Christmas Day?

Hours can vary and not all locations will be open. In some cases, store websites have not been updated to reflect holiday hours, so calling your closest location is advised.
7-ElevenMost locations open 24 hours
AcmeHours vary.
Albertsons: Hours vary.
Bravo SupermarketsSome locations open special hours Wednesday.
Casey's General StoreStores open at 10 a.m.
Circle KHours vary, some open 24 hours. 
Cumberland FarmsHours vary, some open 24 hours. 
CVSMost open regular hours though many pharmacies will be closed.
Duane ReadeHours vary.
Family Dollar: Some locations are open special hours Wednesday. Call your closest location as this information is not online.
Giant Food: Some stores are open 8 a.m. to 5 p.m. Wednesday, while other locations are closed.
goPuffThe digital on-demand convenience retailer is open Christmas in its 150-plus markets.
Love's Travel StopsOpen 24 hours.
Pilot Flying JMost open 24 hours or regular hours.
RaceTracHours vary.
Rite-AidMost locations open but hours vary.
Safeway: Hours vary but many are open 8 a.m. to 5 p.m.
Sheetz: Open 24 hours.
SpeedwayHours vary.
TravelCenters of America: Find holiday hours here.
VonsVaries, check website.
WalgreensMost open regular hours though many pharmacies will be closed.
WawaMost open 24 hours or regular hours.
More businesses open: Additional stores, gas stations and convenience stores also are expected to be open. Check before heading out.

What restaurants are open Christmas?

Check with your closest location before heading out. Some restaurant websites do not have updated holiday hours so calling is suggested.
Applebee'sNot all locations will be open as the decision is made by franchisees.
Baker’s Square: 7 a.m. to 7 p.m.
Benihana: Make reservations online for Christmas Day.
Boston Market: Nearly all locations are open Wednesday but menu selections and hours may vary by location.
Buca di Beppo: Most open regular hours.
Burger KingSelect locations will be open on Christmas Day.
Chart House: Most locations open and hours and menus vary. 
Checker's: Most open regular hours.
Chinese restaurants: It's a tradition for Chinese restaurants to be open Christmas. Check with your favorite for hours.
Dave & Buster'sCheck your closest location's hours online.
Denny's: Open 24 hours.
Dunkin'Hours vary and not all locations will be open. Check the Dunkin' mobile app to confirm whether your local store is open.
Fleming's Steakhouse: Select locations open Christmas.
Fogo de ChĂŁo: 11 a.m. to 9 p.m.
Hard Rock CafeVaries.
HootersMany locations open at 4 p.m., but hours can vary.
Huddle HouseHours vary.
IHOPMost locations will be open regular hours Wednesday. IHOP has a limited-time Elf on the Shelf menu and kids eat free promotion through Jan. 1.
Legal Sea FoodsEach location's hours listed at www.legalseafoods.com.
Luby'sSpecial menu available.
Macaroni Grill11 a.m. to 9 p.m.
Main EventCheck for entertainment centers' hours online
McCormick’s & Schmick’sThe restaurant recommends making reservations.
McDonald'sParticipating locations are open Wednesday, hours vary.
Panda Express: Hours vary.
Paris BaguetteAll locations will be open Wednesday but hours vary.
Perkins Restaurant & BakerySome locations will have special hours Wednesday.
PokeworksCorporate locations will be open along with participating franchised locations.
Ruth Chris' Steak HouseReservations are recommended and can be made online.
Shari's: Hours vary and listed at www.sharis.com.
Shoney'sLocations open at 11 a.m.
StarbucksNot all locations are open and hours vary. Check with your closest location and hours will be updated on the app and website.
STK Steakhouse and Kona Grill: The restaurant chains both owned by The One Group will be open Christmas. Check websites for varying hours.
Steak 'n Shake: Most will be open, call for your closest location’s hours.
TGI FridaysSome locations will be open special hours, which vary. 
TooJay's Deli: Check with locations for special hours.
Tony Roma'sHours vary.
Veggie GrillSelect locations open Christmas. 
Village Inn: Hours vary but many close at 4 p.m. Christmas.
More restaurants: Some locally-owned and regional chains restaurants also will be open Christmas and restaurants located in hotels often are open on holidays. Find additional restaurants by searching social media and looking on OpenTable, an online reservation service.

Tuesday

Megyn Kelly Says President Donald Trump's Impeachment Trial Is 'Rigged'.....

CC™ Periscope



In a new interview for an upcoming PBS documentary, former Fox News anchor Megyn Kelly says she believes President Donald Trump’s upcoming impeachment trial is “rigged.”
Kelly appears in an upcoming PBS Frontline documentary airing in mid-January about the political divide in the United States, where she discusses everything from hearing Barack Obama speak for the first time to her feud with Trump throughout the 2016 election campaign.
In the interview, Kelly also answers questions about Trump’s impeachment (the interview was conducted before Trump was officially impeached on Wednesday evening).
“The trial’s kind of rigged, right?” Kelly says. “The jury’s kind of set in the Senate because the Republicans control it. I don’t see enough Republicans in that body turning on a man who’s about to face re-election anyway and is going to be in the voters’ hands anyway, doing something that radical as finding him guilty if articles of impeachment come over from the House.”
Although the House of Representatives voted to impeach President Trump on Wednesday, the president will stand trial in the Senate, where it’s widely expected the Republican majority will vote to acquit him on charges of abuse of power and obstruction of Congress.
Kelly notes the founding fathers left the constitutional stance on impeachment vague in order to leave legal “wiggle room.”
“If they’d just said ‘high crimes’ — you know, ‘treason and high crimes’ — we’d know what the standard was,” Kelly says. “But ‘and misdemeanors’ opens it up, because they’re not talking about misdemeanors like he jaywalked, right? That opens it up to it could be improper conduct. It could be abuse of power.”
Democrats and Republicans have debated throughout the months-long impeachment investigation on what constitutes “abuse of power” and whether Trump did, in fact, abuse his power as president.
During Wednesday’s impeachment debate on the House floor, Republican representatives claimed House Democrats were treating Trump unfairly. One Republican representative alluded to Trump’s impeachment as a comparable tragedy to Pearl Harbor, while another claimed Jesus was afforded more rights before his crucifixion than Trump had been during the impeachment investigation.
Trump declined to testify during the impeachment investigation, as well as other top officials in the Trump administration.
Wednesday’s debate on the House floor over impeachment was also similar to Kelly’s statements about how Democrats and Republicans see Trump’s impeachment differently.
“Much like pornography, that’s in the eye of the beholder,” Kelly says in her interview. “As the Supreme Court said, ‘I know it when I see it.’ Well, so what does that mean? That means it boils down to politics, and people are going to see it through their own partisan lenses.”
Trump’s impeachment trial in the Senate is expected to begin in January.

Monday

Apparently oblivious of his House impeachment, Trump urges students to back his agenda and oppose impeachment

Trump stands impeached much like Clinton (L) and Johnson (R)
CC™ Insight


President Donald Trump kicked off his end-of-year holiday in Florida on Saturday by rallying student supporters on behalf of his political agenda – and against Democrats and impeachment.
"There was no crime ... there was nothing," Trump told a cheering crowd at the Turning Point USA Student Action Summit in West Palm Beach, Florida. "What are we doing here? The world is watching."
While blasting Democrats for their impeachment push, Trump said at one point that "we're facing an opposition willing to use totalitarian methods to get their way."
Trump mocked House Speaker Nancy Pelosi for suggesting she might not submit two impeachment articles to the Senate for trial, but spent more time on his standard campaign stump speech.
Turning Point USA, a network of conservatives on college and high school campuses, held its summit not far from Trump's Mar-a-Lago estate, where he is spending the holidays.
"The radical left doesn't stand a chance against young conservatives who put America first," Trump said to the adoring crowd during a speech that lasted more than an hour.
Speaking three days after the House passed two articles of impeachment, Trump bragged that no Republican lawmaker voted for either allegation. He said that Democrats looked "bad" and that "our polls have gone through the roof."
Pelosi has not submitted the two impeachment articles for trial amid Democratic concern that the Republican majority in the Senate will not conduct a fair and thorough trial.
"No one is above the law and the Constitution is the supreme law of the land," Pelosi said after the impeachment vote. "No one is above the law and this president has been held accountable."
The House on Wednesday passed two impeachment articles that accuse Trump of abuse of power and obstruction of Congress.
The first article concerns evidence that Trump pressured the country of Ukraine to investigate a U.S. political opponent, Democratic presidential candidate Joe Biden. Trump is also accused of holding up military aid to Ukraine until it followed through with his demands.
The obstruction article deals with Trump's refusal to allow testimony by top aides during the House impeachment inquiry.
Rep. Adam Schiff, D-Calif., tweeted after the vote that "we all feel the weight of history in this moment, but President Trump's grave misconduct left us no choice but to impeach. Now it is incumbent on the Senate to conduct a fair trial."
In his campaign-themed speech to student backers, Trump extolled the newly signed defense bill, a revamped trade deal with Canada and Mexico, new trade talks with China, the federal judges he has appointed, and the proposed wall along the U.S.-Mexico border.
He also attacked a string of Democratic presidential candidates, including Biden and his son Hunter Biden. who had business interests in Ukraine.
Trump frequently joked with the friendly crowd.
While criticizing what he called an over-reliance on wind power, Trump said that companies often paint windmills different colors, including "an orange-white" – and then he made a crack about his own complexion and hair.
"My favorite color," Trump said. "Orange."
Source: USA TODAY