EXCITING TIMES AHEAD!
It was quite a week last week:
- GOOGLE LOSES MONOPOLY CASE: The US Department of Justice prevailed over Google’s arguments. The judge found Google to not be helpful in that it had erased thousands of emails that apparently were detrimental to its case. In the 267-page opinion, US District Judge Amit Mehta stated that they had undertaken partnerships with third-parties like Apple that gave them an unfair advantage over their competition. Google “revenue shares” with Apple to make Google the default search engine on Apple phones. The payment has been in the area of $20B per year over the past few years. Google states that it will appeal.
- GOOGLE HAS MAINTAINED DOMINANCE IN EU: The EU required that cellphone user be able to choose their search enginee. It didn’t hurt Google as 97.87% of cell phone users in Europe chose Google in the 12 months ending July 2024 according to Statista.
- LOWER MORTGAGE AND INTEREST RATES ON THE WAY: We have been waiting for this for what seems like forever. It appears that at least a quarter-point reduction is on its way September 24th, if not before. Mortgage rates have already dropped to 6 ½% in anticipation, the lowest rate since May 2023, according to Freddie Mac. (link below referenced)
- EXPECT ALL FORMS OF INTEREST ON CREDIT TO DROP TOO: This means getting your customers financing and at a more reasonable rate is on its way.
- CORPORATE INCOME TAX RATES: We all know that the Trump Tax Cuts lowered the rate from 35% to 21%. This reduction is permanent unless there is legislation to change it. However, lower taxes for individuals expire, raising the highest bracket from 37% back to 39.6% on December 31, 2025. Capital Gains and Estate Taxes return to their old percentages too. (see below referenced)
It’s a rapidly changing landscape right now. Please optimize your website to the fullest extent possible to increase your market share.
For more info:
Google Mortgage Rates Highlight
JCCS – What might be ahead as many tax provisions are scheduled to expire?
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Onward & Upward!
