Friday, July 4, 2025

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Biden Oversees Worst Year for S&P 500 since 2008, $8.2 trillion in Losses

(The Center Square) – The S&P 500 had its worst year since 2008 and saw its third annual decline since 2018. The blue chip index closed out 2022 at 3,839.50, a 19.4% loss over the year, after closing 2021 at 4,766.18, representing 27% in gains. The reversal represents $8.2 trillion...

S&P 500 Ends the Worst Year Since 2008 Housing Crisis with More Loses

(Headline USA) Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008. The benchmark index finished with a loss of 19.4% for 2022, or 18.1%, including dividends. It's just its third annual decline since...

IRS Increases Deductible Costs for Mileage by 3-cents per Mile in 2023

(Tom Gantert - The Center Square) The optional standard rate for deductible costs for operating an automobile for business will increase to 65.5 cents per mile in 2023, a 3-cent increase from the current rate, according to the IRS. The new rates begin Jan. 1 and apply to electric and hybrid-electric...

11 States to Cut Individual Income Taxes in 2023

(Josh Hypes - The Center Square) Arizona, Idaho, Indiana, Iowa, Kentucky, Mississippi, Missouri, Nebraska, New Hampshire, New York and North Carolina will cut the individual income tax rate on New Year’s Day, according to the Tax Foundation. Over the past two years, more than 20 states have cut individual income...

Southwest Airlines Flight Cancellations Continue to Snowball

(Headline USA) Southwest Airlines continues to slash about two-thirds of its daily schedule, canceling another 2,350 flights Thursday, though most of the planes that flew arrived on time. Southwest is struggling to recover after being overwhelmed by a winter storm that left hundreds of pilots and flight attendants stranded out...

Couch Potatoes Reeling in Big Welfare Bucks for Not Working

(Joshua Paladino, Headline USA) Able-bodied Americans who have dropped out of the labor force can in dozens of states earn at least the national median household income through unemployment benefits and Obamacare's insurance subsidies. In a study titled, "Paying Americans Not to Work," the Committee to Unleash Prosperity found that...

Economists: Guaranteed Income Programs Should Replace, not Supplement, Other Welfare

(Tom Gantert, The Center Square) In Hudson, New York, participants in the city's guaranteed income program that started in 2020 were counseled on how the $500 a month they were set to receive over a 5-year-period would impact other government subsidies for which they are eligible. "Will participants lose other...

Dems Block Scrapping Va. Grocery Sales Tax

(Madison Hirneisen - The Center Square) – Virginia will reduce its grocery sales tax rate starting Jan. 1, resulting in a 1% tax on groceries and certain essential personal hygiene products. Virginia will eliminate the 1.5% state retail sales and use tax on food and certain hygiene products, leaving a...

Biden Gifts Federal Employees Major Pay Hike

(The Center Square) – President Joe Biden signed an executive order giving federal employees a significant pay bump heading into the new year, but that increase still does not keep up with inflation. The executive order gives “General Schedule” employees a 4.6% pay increase, 4.1% as a raise and 0.5%...

Disgraced Fmr. FTX CEO Thrown Under the Bus by Ex-Girlfriend

(Jacob Bruns, Headline USA) Leftist political donor and former FTX CEO Sam Bankman--Fried has been betrayed by his girlfriend as a part of a plea deal, ZeroHedge reported. Former Alameda CEO Caroline Ellison, who reportedly maintained an open relationship with Bankman--Fried prior to the FTX downfall, has agreed to cooperate...

Judge Grants Bankman–Fried $250M Bond, House Arrest at Parents’ Home

(Headline USA) The cryptocurrency entrepreneur Sam Bankman--Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday. Assistant U.S. Attorney Nicolas Roos said in...

Bureau of Labor Statistics Lied about Jobs to Help Dems Get Elected

(Ezekiel Loseke, Headline USA) President Joe Biden's Bureau of Labor Statistics (a division of the Department of Labor) fabricated a million jobs to influence the 2022 election, demonstrating the subversive influence of the administrative state on American politics. In June, the Bureau of Labor Statistics released an overly optimistic job...
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