Consumerism has long been a defining element of American society, but retail giants are now shutting down thousands of their locations amid a long-anticipated “retail apocalypse,” as Business Insider describes it. The outlet reports that over the next couple months, more than 3,500 stores are expected to close: “Department stores like JCPenney, Macy’s, Sears, and Kmart are among […]

There is much hand-wringing in the financial media this week after Treasury Secretary (and Lego Batman producer) Steve Mnuchin helped push the G-20 to remove its long standing language to “reject protectionism” from its annual statement. While the Trump administration’s embrace of anti-trade policies is a very real concernfor the global economy, it is worth noting that the G-20’s desire […]

Low- and moderate-income workers faced marginal tax rate of 31 percent in 2016