*OUCH! Bad News If You Make $150,000 to $300,000: Higher Taxes for Many
If President Donald Trump sticks to what he has said, Americans earning between $149,400 and $307,900 are most likely to see an increase in their taxes as a result of tax reform. Those figures come from a recent study by the Tax Policy Center, a nonpartisan group in Washington, and are based on Mr. Trump’s statements and proposals. The study concludes that nearly one-third of about 19 million households in that income range could see tax increases averaging from $3,000 to $4,000 a year.By contrast, less than 10% of households earning the least or the most—below $25,000 or above $733,000—would owe more after a tax overhaul. Over all, the study found that about 20% of taxpayers would owe more after tax reform than before it.
*Pakistan’s Supreme Court Ousts Prime Minister Sharif
Pakistan’s supreme court ousted Prime Minister Nawaz Sharif, ruling Friday that he was no longer fit to hold the office because of corruption allegations. “He is no more eligible to be an honest member of the parliament, and he ceases to be holding the office of prime minister,” said Judge Ejaz Afzal Khan. The high court also ordered a criminal investigation into Sharif’s family over the accusations. Sharif has denied wrongdoing, but quickly stepped down. “Following the verdict, Nawaz Sharif has resigned from his responsibilities as prime minister,” a spokesman said in a statement. His political party, called the Pakistan Muslim League-Nawaz party, will name a temporary PM who will serve until next year’s election, Reuters reports.
*Laurene Powell Jobs, Widow of Apple Founder, Buys The Atlantic Magazine
The Emerson Collective, the organization founded and run byLaurene Powell Jobs, has bought a majority stake of The Atlantic magazine. Jobs is the widow of Apple founder Steve Jobs. David Bradley, the magazine’s current owner, will hold a minority stake and retain control of the publication’s operations for the next three to five years. “While I will stay at the helm some years, the most consequential decision of my career now is behind me: Who next will take stewardship of this 160-year-old national treasure?” Bradley, who is nearing 70, wrote to employees. “To me, the answer, in the form of Laurene, feels incomparably right.”
*It’s Not Your Imagination. Summers Are Getting Hotter
Extraordinarily hot summers — the kind that were virtually unheard-of in the 1950s — have become commonplace. This year’s scorching summer events, like heat waves rolling through southern Europe and temperatures nearing 130 degrees Fahrenheit in Pakistan, are part of this broader trend. The chart above, based on data from James Hansen, a retired NASA climate scientist and professor at Columbia University, shows how summer temperatures have shifted toward more extreme heat over the past several decades.
*LBN-WHERE THE ELITE AND UNDERDOGS MEET: Now your friends, family and associates can sign up to receive LBN (if they’ve got the guts). Simply go to: www.LBNElert.com
*Israel Bans Muslim Men Under Age 50 From Holy Site
Muslim men younger than 50 have been banned from a shrine in Jerusalem after Palestinians allegedly barricaded themselves overnight inside the Al-Aqsa Mosque at the holy site, an Israeli police spokesman said. The shrine, known as the Noble Sanctuary to Muslims and as Temple Mount to Jews, typically draws tens of thousands of Muslim worshippers during Friday prayers. The Old City location was only reopened Thursday after an 11-day prayer boycott over metal detectors Israeli Prime Minister Benjamin Netanyahu ordered installed at the disputed site, which is administered by the Jordanian government.
*DID YOU KNOW? Did you know that LBN is read in 26 foreign countries daily from China to India, from Brazil to Russia, from Korea to Israel, from Canada to France, from Germany to Japan, from Australia to Mexico, from Greece to Cuba, from Iraq to Sweden.
*LBN-BUSINESS INSIDER: ***Wisconsin Gov. Scott Walkersigned a memorandum of understanding with Foxconn Technology Group Chairman Terry Gou late Thursday that paves the way for what is being touted as the largest economic development project in the state’s history. The project, dubbed the Flying Eagle by Walker and Gou, will see the Taiwanese manufacturer best known for making Apple’s iPhones invest $10 billion in the state and create 13,000 jobs by 2020. In exchange, the company will get $3 billion in tax credits and purchase 1,000 acres to build its first U.S. manufacturing plant. The agreement is being portrayed as a win for both Walker and President Trump, who on Thursday personally took credit for it at a White House event. Saying the news bolstered his “Made in the U.S.A” label, Trump praised Gou’s decision to invest. “If I didn’t get elected, he definitely would not be spending $10 billion,” he said. ***The American economy grew at an annual rate of 2.6 percent last quarter, a big pickup from the beginning of 2017, but well short of the pace President Trumphas promised and lower than what many experts had been anticipating until recently. Still, the Commerce Department’s report issued on Friday is a sign that the economy remains on track, with underlying growth in line with where it has been since the current recovery began eight years ago this summer. On Wall Street, economists had been expecting growth of 2.5 percent for the second quarter. The new data on gross domestic product come after positive figures this week on orders for durable goods in June and a slightly more favorable trade balance. ***Meg Whitman, chief executive of Hewlett Packard Enterprise, said she would not become the next chief of Uber, amid a flurry of reports about who might assume leadership of the troubled ride-hailing company. Ms. Whitman posted a statement on Twitter late Thursday about the vacant Uber job, following reports this week that she was on a short list of candidates to be the next C.E.O. “Normally I do not comment on rumors, but the speculation about my future and Uber has become a distraction,” Ms. Whitman said in three consecutive tweets. “So let me make this as clear as I can. I am fully committed to H.P.E. and plan to remain the company’s C.E.O. We have a lot of work still to do at H.P.E. and I am not going anywhere.” “Uber’s C.E.O. will not be Meg Whitman,” she added. ***Apple has announced it is discontinuing its low-end iPod models, the Nano and Shuffle, Bloomberg reports. However, the company is doubling the capacity of its two iPod Touch models. The move follows Apple nixing the iPod classic with the click wheel in 2014.
*LBN-INTEL FOR INFLUENCERS:
*LBN-HOLLYWOOD INSIDER: ***Stephen Colbert will executive produce a new animated comedy for Showtime about President Donald Trump’s White House. The cable network ordered 10 episodes of the half-hour show, which will premiere this fall.
*LBN-MUSIC INSIDER: ***Willa Ford is taking back what she said about 9/11 ending her music career. The “I Wanna Be Bad” songstress told Billboard that her career stalled because her second single came out on the day the Twin Towers fell. “A lot of people don’t realize this, but my second single was released on Sept. 11, 2001,” she said. “Everything that happened that day froze; the world stood still, as it should have. My second single didn’t do well because anything that launched that day kind of got canned.”
*LBN-VIDEO LINK: American life in Early 40’s – 1942 —- https://youtu.be/OiSdvXrlzS4.
LBN-R.I.P.: **Martin A. “Marty” Sklar, a right-hand man ofWalt Disney and central figure in the development and expansion of his company’s theme parks around the world, has died. Disneyland spokeswoman Suzi Brown confirmed Sklar’s death for The Associated Press. A company statement says he died Thursday at his Hollywood Hills home at age 83. No details were released on his cause of death.
*LBN-SPOTLIGHT : All you have to decide is what to do with the time that is given to you. —– www.TheExcelCommunity.com
*LBN-COMMENTARY by DAVID BROOKS: Do you ever get the feeling we’re all going to be judged for this moment? Historians, our grandkids and we ourselves will look and ask: What did you do as the Trump/Scaramucci/Bannonadministration dropped a nuclear bomb on the basic standards of decency in public life? What did you do as the American Congress ceased to function? What positions did you take as America teetered toward national decline? For most of us, it’s relatively easy to pass the test. Our jobs are not on the line when we call out the mind-boggling monstrosity of what’s happening. For Republican senators, it’s harder. Their consciences pull them one way — to tell the truth — while their political interests pull them another way — to keep their heads down. Some senators are passing the test of conscience —Ben Sasse, Lindsey Graham, Susan Collins, Mike Lee andJohn McCain. And to that list we can certainly add Arizona Senator Jeff Flake. In a few days he comes out with a book called “Conscience of a Conservative,” which is a thoughtful defense of traditional conservatism and a thorough assault on the way Donald Trump is betraying it. Flake grew up in rural Arizona. “Cattle ranching is the hardest work I’ve ever known and the best people I have ever known have been cattle ranchers,” he writes. He was one of 11 children and his family did not dine out, even once, while he was young. He lost part of a finger and learned frontier self-reliance on the ranch. As a Mormon he learned to be wary of the government, and especially the way it can persecute minorities.
*LBN-VIDEO LINK: The unheard story of David and Goliath | Malcolm Gladwell —- https://youtu.be/ziGD7vQOwl8
*LBN – A DIFFERENT VIEW….
*LBN-OVERHEARD: ***Amy Schumer, who is No. 5 on Forbes World’s Highest-Paid Comedians list — and the first woman to ever make the list — is spreading the wealth. The “Trainwreck” star, who is estimated to have made $37.5 million this year, was spotted on Thursday with a male friend at Michael Jordan’s The Steak House at Grand Central, where she used to work as a waitress before hitting it big. We’re told the pair had their filet mignons in the private dining room. While the bill was relatively small, Schumer left an $80 tip for her former co-workers.