NYT > Economy

    Myths of the 1 Percent: What Puts People at the Top

    Myths of the 1 Percent: What Puts People at the Top


    A woman holds up a paddle with an image of Leonardo da Vinci’s “Salvator Mundi” as she arrives at Christie’s before bidding on the painting Wednesday night in New York. The work sold for a record $450.3...

    Dispelling misconceptions about what’s driving income inequality in the U.S.
    Who’d Gain From an Estate Tax Rollback: The 0.2 Percenters

    Who’d Gain From an Estate Tax Rollback: The 0.2 Percenters


    Treasury Secretary Steven Mnuchin with his wife, Louise Linton, and new dollar bills bearing his signature on Wednesday. Last month, Mr. Mnuchin said, “Obviously, the estate tax, I will concede, disproportionately helps rich...

    Scarcely 5,000 estates a year fall under the tax, but those seeking to reduce or eliminate it have outsize influence.
    Middle-Class Families Confront Soaring Health Insurance Costs

    Middle-Class Families Confront Soaring Health Insurance Costs


    Ian Dixon, right, said he might hire an employee just so he could buy health insurance as a small business, at a cost far below what he and his family would have to pay on their...

    In Virginia, premiums on policies sold under the Affordable Care Act are pushing health coverage out of reach, and customers see political forces at work.
    Tax Bill Thrown Into Uncertainty as First G.O.P. Senator Comes Out Against It

    Tax Bill Thrown Into Uncertainty as First G.O.P. Senator Comes Out Against It


    Senator Ron Wyden, Democrat of Oregon, left, clashed with Senator Orrin G. Hatch, Republican of Utah, right, during a hearing of the Senate Finance Committee on...

    Senator Ron Johnson of Wisconsin said he opposed both the House and Senate tax plans as written, posing a new obstacle to Republican leaders eager to overhaul the tax code.
    Japan Extends Economic Growth Streak

    Japan Extends Economic Growth Streak


    A shopping district in Osaka in western Japan. While exports increased 6 percent in annualized terms in the most recent quarter, household consumption fell 1.9 percent, according to government...

    The country’s businesses have benefited from stimulus measures and rising global demand, as output expanded for a seventh consecutive three-month period.
    Senate Plans to End Obamacare Mandate in Revised Tax Proposal

    Senate Plans to End Obamacare Mandate in Revised Tax Proposal


    Senator Orrin G. Hatch, Republican of Utah, delivered opening remarks Tuesday during a Senate Finance Committee...

    Republicans also said they would set all of their tax cuts for individuals to expire at the end of 2025, but deep cuts in the corporate tax rate would be permanent.
    Lower Corporate Taxes, Higher Wages? Voters Are Skeptical

    Lower Corporate Taxes, Higher Wages? Voters Are Skeptical


    Representative Jim Renacci, Republican of Ohio, delivering remarks during a House Ways and Means Committee meeting on a tax overhaul...

    A new survey suggests that Americans are skeptical of Republican claims that cutting corporate taxes would lead to higher wages for workers.
    Why Companies Like Toys ‘R’ Us Love to Go Bust in Richmond, Va.

    Why Companies Like Toys ‘R’ Us Love to Go Bust in Richmond, Va.


    The federal courthouse in Richmond, Va., where Toys “R” Us filed for bankruptcy. The bankruptcy court there offers several features attractive to the executives, bankers and lawyers trying to get an edge in Chapter 11...

    The federal bankruptcy court in Virginia’s capital moves quickly, has expert judges and legal precedents that are favorable to companies, and a reputation for approving huge fees for lawyers.
    Economic Scene: Considering the Cost of Lower Taxes

    Economic Scene: Considering the Cost of Lower Taxes


    Republicans say their tax proposals would encourage investment and stimulate the economy, but critics say they would be inequitable and burden the middle...

    The American aversion to taxes is singular among wealthy nations and may have produced a government unequal to today’s economic and social challenges.
    Haste on Tax Measures May Leave a Trail of Loopholes

    Haste on Tax Measures May Leave a Trail of Loopholes


    Companies like Google and Pfizer often relocate patents and copyrights in tax havens and then sell the use of that intellectual property back to their American subsidiaries at eye-popping...

    When moving a bill at breakneck speed, one law that cannot be repealed is the law of unintended consequences, as corporate tax provisions may prove.
    Plugging Into the Gig Economy, From Home With a Headset

    Plugging Into the Gig Economy, From Home With a Headset


    Freelance call-center agents, working from home as part of what the company using their services calls “Liveops...

    A company called Liveops has become the Uber of call centers by doting on its agents. But is the work liberating, or dehumanizing?
    Self-Driving Trucks May Be Closer Than They Appear

    Self-Driving Trucks May Be Closer Than They Appear


    US Xpress trucks, some fitted with driverless technology, in...

    With fewer cultural hurdles and more financial incentives than car owners, big-rig operators are charting the route to an autonomous future.
    Vietnam, in a Bind, Tries to Chart a Path Between U.S. and China

    Vietnam, in a Bind, Tries to Chart a Path Between U.S. and China


    President Xi Jinping of China arriving in Danang, Vietnam, on Friday for the Asia-Pacific Economic Cooperation meeting. Washington’s withdrawal from the Trans-Pacific Partnership has left some countries wondering if they should opt for Chinese-backed...

    It is hard to overstate the long history of Vietnamese antipathy toward the Chinese. But with the U.S. apparently withdrawing from the region, Hanoi can’t ignore Beijing.
    California Looks at Republican Tax Measures and Sees Payback

    California Looks at Republican Tax Measures and Sees Payback


    Sam Moss, an affordable-housing developer, in front of a San Francisco lot on which his organization is waiting to...

    Strongly Democratic, the state would be hit hard by the loss or scaling back of widely used deductions, and the governor sees “something very odd.”