The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Donald Trump said Monday that he "brilliantly" used tax laws to benefit himself and his companies in response to criticism about his possible use of loopholes to pay minimal income tax.
Trump contended he understands tax laws better than anyone else based on his experience, which gives him a unique ability to fix tax laws. Trump added during his rally in Colorado that he hates the way the U.S. government spends tax dollars.
"As a businessman and real estate developer, I have legally used the tax laws to my benefit and to the benefit of my company, my investors and my employees. Honestly, I have brilliantly — I have brilliantly used those laws," he said.
Trump faces fresh criticism for his business and tax history after The New York Times reported over the weekend that his 1995 tax return showed a $916 million loss after a string of business difficulties. The return, verified by the man who prepared it, showed Trump could have been legally shielded from income tax for up to 18 years after that.
Trump, who has used his business acumen as a selling point during his campaign, contended that he looked out for himself and investors by paying the minimum amount of taxes required by law. He also claimed that his ability to fight back from the loss showed his resilience. Trump has so far refused to release his tax returns in contradiction to recent presidential precedent.
His rival for president Hillary Clinton slammed Trump for his 1995 tax return on Monday, asking, "What kind of genius loses a billion dollars in a single year?"
Other critics have also questioned Trump's claims that he will fix the tax code because he knows its flaws. New York Times columnist Jim Stewart told CNBC that Trump's tax plan — which calls for across-the-board income tax cuts and the closure of loopholes for some investment-related activities — would not close the loopholes that Trump himself used.