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Yahoo
26 minutes ago
- Yahoo
Two right-wing candidates headed to Bolivia presidential run-off: projection
Two right-wing candidates were expected to advance to a run-off for Bolivia's presidency after topping the first round of elections on Sunday, ending two decades of leftist rule, according to early projections. Center-right Senator Rodrigo Paz was the surprise frontrunner, with over 31 percent of the vote, according to separate projections by Ipsos and Captura pollsters based on partial results. He was followed by former right-wing president Jorge "Tuto" Quiroga in second with around 27 percent, the projections showed. Millionaire businessman Samuel Doria Medina, who had been tipped to finish first, trailed in third with 19.5-20.2 percent, far ahead of the main leftist candidate, Senate president Andronico Rodriguez. The election was dominated by the South American nation's worst economic crisis in a generation, which saw voters desert the ruling socialists in droves. Annual inflation hit almost 25 percent in July as the country runs critically short of fuel and dollars, the currency in which most Bolivians keep their savings. The vote brings the curtain down on 20 years of socialist rule, which began in 2005 when Evo Morales, an Indigenous coca farmer, was elected president on a radical anti-capitalist platform. "The left has done us a lot of harm. I want change for the country," Miriam Escobar, a 60-year-old pensioner, told AFP after voting in La Paz. - 'Day that will mark history' - The main right-wing candidates have vowed to shake up Bolivia's big-state economic model and international alliances. "This is a day that will mark the history of Bolivia," Quiroga said after voting in La Paz. He has vowed to slash public spending, open the country to foreign investment and boost ties with the United States, which were downgraded under the combative Morales, who resigned in 2019 following mass protests over alleged election rigging. Agustin Quispe, a 51-year-old miner, branded Quiroga a "dinosaur" and said he backed Paz, who campaigned on a populist programme of fighting corruption, cutting taxes and delvering "capitalism for all." - Shock therapy - Many Bolivians have cited the kind of shock therapy administered by President Javier Milei to turn around his country's inflation-wracked economy as a model for their homeland. "What people are looking for now, beyond a shift from left to right, is a return to stability," Daniela Osorio Michel, a Bolivian political scientist at the German Institute for Global and Area Studies, told AFP. Quiroga, who is on his fourth run for president, touted his experience in government and multilateral organizations as qualifying him for the task of saving Bolivia from bankruptcy. He served as vice-president under ex-dictator Hugo Banzer and then briefly as president when Banzer stepped down to fight cancer in 2001. - Morales looms large - Morales, who was barred from standing for a fourth term, has cast a long shadow over the campaign. The 65-year-old called on his rural Indigenous supporters to spoil their ballots over his exclusion and threatened mass protests if the right returns to power. Bolivia enjoyed more than a decade of strong growth and Indigenous upliftment under Morales, who nationalized the gas sector and ploughed the proceeds into social programs that halved extreme poverty. But underinvestment in exploration has caused gas revenues to implode, falling from a peak of $6.1 billion in 2013 to $1.6 billion last year. With the country's other major resource, lithium, still underground, the government has nearly run out of the foreign exchange needed to import fuel, wheat and other key commodities. bur-cb/st/des

Wall Street Journal
28 minutes ago
- Wall Street Journal
Strong Crop of Earnings Eases Investors' Economic Concerns
The job market is cooling. Tariff rates are rising. But American companies still seem to be doing just fine. With the latest earnings season nearly done, top- and bottom-line results from companies in the S&P 500 are handily beating expectations that had been lowered after President Trump announced sweeping duties on imports in April. Profits are expected to have risen around 12% in the second quarter from a year earlier, according to FactSet, far ahead of the 5% growth analysts predicted in early July.
Yahoo
an hour ago
- Yahoo
Are we getting a $5000 DOGE dividend or $600 rebate? Fourth stimulus check eligibility
If you're wondering about a fourth stimulus check in 2025 from President Donald Trump or the IRS, here's what to know about eligibility and the reality of it happening. On July 25, Trump floated the idea of a tariff rebate check for American taxpayers in response to questions about all the new tariff revenue being generated, "We have so much money coming in, we're thinking about a little rebate. But the big thing we want to do is pay down debt. But we're thinking about a rebate." A few days after the president's tariff rebate comments, Missouri Republican Sen. Josh Hawley announced the American Worker Rebate Act of 2025 aimed at sending checks to Americans. Note that a few months back, in February, Trump also said he would consider a plan to pay out a portion of the savings identified by the Department of Government Efficiency in the form of a $5000 dividend check as payback to taxpayers. The DOGE dividend proposal, authored by Azoria investment firm CEO James Fishback, was meant to give back or refund taxpayers a savings from Elon Musk's DOGE related cuts and reductions in government spending. Here's what to know about Trump's two proposals this year, what the amounts would be, qualifications and status. Are we getting a fourth stimulus check in 2025? While speculation about a of $2,000 has surfaced on social media and unverified websites, there has been no official confirmation of any additional economic relief package in 2025 from Congress or the IRS to support this claim. Any such news should be taken with caution as it could be misinformation or attempted fraud. Either of Trump's ideas for a tariff rebate or DOGE dividend this year would be similar to a fourth stimulus check, if approved. Albeit, there are differences between a stimulus check versus a dividend, refund or rebate. By definition, a dividend is a distribution of profits by a corporation to its shareholders and refund is a payment made back to a user that previously paid for something. While a rebate is a partial refund of the purchase price that a consumer paid, often upon meeting certain conditions — more like a discount that is refunded after the purchase versus a discount that is applied at the point of sale. A stimulus check on the other hand, is a direct payment to encourage spending and stimulate the economy by putting money directly into the consumers' hand. Also similar to the stimulus checks sent during the pandemic, these proposals would require congressional approval. What is the American Worker Rebate Act of 2025? Hawley's bill, called the American Worker Rebate Act of 2025, would provide a minimum of $600 per adult and dependent child, or $2,400 for a family of four, according to news officials. The benefit would be reduced by 5% for joint filers with an adusted gross income above $150,000 or single filers earning more than $75,000 individually. According to an analysis from the Budget Lab at Yale released July 28, Trump's tariffs could cost U.S. households an average of $2,400 in 2025 through higher prices passed on from companies paying higher tariff taxes. The Treasury Department said on July 25 that the U.S. government posted a $27 billion surplus in June, following a $316 billion deficit in May. Customs duties totaled approximately $27 billion for the month, up from $23 billion in May and 301% higher than in June 2024. On an annual basis, tariff collections have totaled $113 billion, or 86% more than a year ago. The bill would allow for a larger rebate if the tariff revenue exceeds projections. What is the status of the DOGE dividend check proposal? Fishback announced that he was stepping away from the DOGE dividend check movement after Musk lashed out at the president in June, although he also said he would continue working with the administration "to return savings to taxpayers." The latest update on DOGE dividend came from Fishbacks tweet on June 6, "I believed in Elon Musk's vision to shrink government and make it work better for Americans. I'm proud of the DOGE Dividend proposal I developed and will keep working with the administration to return savings to taxpayers." He added, "The truth is that Elon set expectations that he relayed to the President, me, and the country that he did not come close to fulfilling. That's disappointing, but okay." According to Fishback's proposal, the DOGE dividend check was described as tax refund check to be sent to every taxpaying household, funded exclusively with a portion of the total savings delivered by DOGE. The potential refund would be sent only to households that are net-income taxpayers — people who pay more in taxes than they get back — with lower-income Americans not qualifying for the return, according to news reports. The Pew Research Center cites most Americans who have an adjusted gross income of under $40,000 pay effectively no federal income tax. According to the DOGE website, it cites an estimated $205 billion — approximately $1,273 per individual federal taxpayer — in savings and proof in their "Wall of Receipts." Albeit, only half the amount is itemized thus far, raising doubts about accuracy. Amy Gleason is the acting administrator and head of DOGE. Musk's departure from the federal government will likely do little to change DOGE's work carrying out Trump's vision of downsizing the federal government or eliminating the 'fraud and waste.' Maria Francis is a Pennsylvania-based journalist with the Mid-Atlantic Connect Team. This article originally appeared on Asbury Park Press: How to check your stimulus check status? Trump $600 - $2400 rebate Solve the daily Crossword