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That income is then taxed at the owner's income-tax rate, which now is capped at 39.6 percent. The standard deduction for married couples would almost double to $24,000, but other deductions for state and local tax payments would be eliminated.
  • Korea, US hold joint naval drills

    Global News

    The Ohio-class, nuclear-powered submarine sailed into Busan for what the Navy said was a routine visit during a regularly scheduled deployment to the western Pacific. "People put blindfolds on for decades, and now it is time to solve the problem". Meanwhile, the entire U.S. Senate has been invited to the White House for a briefing on Wednesday about the North Korea situation.
  • US sets up missile defense system in South Korea

    US sets up missile defense system in South Korea

    Global News

    Navy via AP). The submarine's arrival comes as the USS Carl Vinson aircraft carrier headed toward the Korean Peninsula for a joint exercise with South Korea. "If it flies, it will die", Harris said. McCain said Trump is "exploring all options" but military action "would be the last one". Trump's top national security advisers said they were "open to negotiations" with the North, though they gave no indication of when or under what circumstances.
  • Markets unconvinced by Donald Trump's tax wish list

    Global News

    Also in the US proposed changes in the tax system included a cut in the corporate tax rate from 35% to 15%, the plan left investors with questions on whether the changes would increased the budget deficit. Many companies already pay less than the headline 35% tax rate. - Repeal of the Alternative Minimum Tax, which had forced wealthier individuals to pay higher bills, and the estate tax, which Cohn and others described as "the death tax".
  • Manchin says Senate backing retired miners' benefits

    Manchin says Senate backing retired miners' benefits

    Global News

    Lawmakers from coal-mining states are pushing to extend health benefits for more than 22,000 retired miners and widows whose live-saving medical coverage is set to expire at the end of April. The best vehicle for action is the continuing resolution Congress is now debating and negotiating with the president to keep the government open, Smith said.
  • US says strategy on North Korea centres on sanctions, open to talks

    US says strategy on North Korea centres on sanctions, open to talks

    Global News

    President-elect Donald Trump, right, and North Korean leader Kim Jong Un, at the Seoul Railway Station in Seoul, South Korea, Nov. 10, 2016. The strategy hinges greatly on the cooperation of China, North Korea's main trading partner. But he added that he is still concerned about China's operations in the South China Sea, and that the United States should be able to criticise them while simultaneously showing gratitude for help against North Korea.
  • China Seeks Korean Linguists Amid Growing Military Tensions With North

    Global News

    US officials have warned that a conflict with North Korea could have a devastating effect on ally South Korea and USA troops based there, a point Pyongyang underscored by a big live-fire exercise on Tuesday to mark the foundation of its military.Harris conceded that North Korean retaliation to any USA strikes could cause many casualties in South Korea, but added that there was the risk "of a lot more Koreans and Japanese and Americans dying if North Korea achieves its nuclear aims and does ...
  • Sarin or similar used in Idlib attack - chemical weapons watchdog

    Sarin or similar used in Idlib attack - chemical weapons watchdog

    Global News

    Russian Federation said it would help Syria beef up its defenses in the wake of the US cruise missile strike, and many see this as a sign they are following through. A Pentagon intelligence briefing at the time of the USA strike stated Syrian warplanes dropped the nerve agent from the regime-controlled Shayrat Airfield.
  • Le Pen goes fishing for votes _ literally

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    Macron later went to the site himself, and although Macron held his ground and the tension eventually eased, television channels repeatedly broadcast footage of the candidate being heckled, marking a stark contrast with coverage of Le Pen posing for photographs with workers.
  • Louisiana U.S. Senators react to North Korea briefing

    Global News

    According to reports , Trump and limestone statue Mike Pence briefly addressed senators at the beginning of the briefing, but left after passing the microphone to Secretary of State Rex Tillerson , Defense Secretary Jim Mattis, Director of National Intelligence Daniel Coats, and Joint Chiefs of Staff Chairman General Joseph F.