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Turmoil Grows Over Disparity In Rules For Prepayment Of Property Taxes

Authored by Mark Glennon via WirePoints.com, What a mess! A  matter of immediate importance to many property owners – prepayment of property taxes – is rapidly descending into chaos and unfairness. Can you prepay property taxes before the end of this year or not? You can for purposes of getting a deduction in 2017 under […]


Who Feels the Tax Sting

Now that the massive new tax bill has passed, I thought I’d do a little experiment with a spreadsheet to see how a hypothetical Silicon Valley, California earner might be affected. I was sure his tax bill would be higher, but I am surprised at how much higher.I wouldn’t be surprised if some people decided not to stay in their […]


House Passes Tax-Reform Bill – 12 Republicans, All Democrats Vote Against

After more than six weeks of frenzied negotiations, the House of Representatives has passed the reconciled version of President Donald Trump's tax plan, leaving only one major hurdle between Republicans and their biggest legislative accomplishment of the Trump era. In a 227-203 vote, the House passed the tax plan over united Democratic opposition, as well […]


Republican Tax Plan Is Headed For Final Round Of Votes

Barring some unforeseen catastrophe (or another floor-vote surprise akin to Sen. John McCain’s last minute decision to strike down the Senate’s plan to repeal and replace Obamacare), Congressional Republicans appear all but certain to pass the reconciled version of President Donald Trump’s tax-cut plan – the first time Congress has successfully passed comprehensive tax reform […]


Here Is What Is In The Republicans’ Final Tax Bill

On Wednesday, Congress Republicans were said to reach a deal on final tax legislation, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. While the formal language of the legislation has not been released, the following are the known […]


Frontrunning: December 5

Clash Over Young Immigrants Hangs Over Year-End Budget Talks (BBG) Businesses Lobby for Breaks After Last-Minute Tax Changes (WSJ) Senate Bill ‘Bombshell’ Could Raise Taxes on Tech (BBG) Europe sucked into sell-off, sterling suffers Brexit blues (Reuters) After Tax Overhaul, GOP Will Pivot to Revamping Welfare (WSJ) Exiled son of slain Yemen ex-leader calls for […]


Elon Musk’s First Payload To Mars: His “Midnight Cherry Tesla Roadster Playing Space Oddity”

In late November, we reported on Elon Musk’s desperate attempt to boost market confidence with a shock and awe performance unveiling Tesla’s new semi-truck and roadster. While the event was a thriller, it appears the laws of physics may have finally caught up with Tesla’s stock – now in a bear-market from September highs. Musk […]


Why Eliminating The State And Local Tax Deduction Is A Terrible Idea

Authored by Ryan McMaken via The Mises Institute, The tax "reform" currently being discussed in Washington is mostly a political exercise for politicians who can use the process to extract more campaign contributions from supporters, and punish non-supporters. The actual tax burden imposed on Americans overall will change little. The proposed elimination of the deduction […]


“Excessive Pockets Of Gluttony”: Meet PA’s Public Pensioners Making $500,000 A Year Courtesy Of Taxpayers

Liberal politicians in Washington D.C. often complain about the federal tax code being too regressive and thus placing too large a burden on low-income families while allowing “millionaire, billionaire, private jet owners” to get a free pass (one must to be willing to ignore actual statistics to reach this conclusion but lets just take the […]


Just 10 Companies Account For 33% Of All Market Gains Since Trump’s Election

Yesterday we laid out the reasons why French bank SocGen unveiled a surprisingly contrarian forecast, according to which the S&P would tumble from its current level over 2,600 to 2,000 in 2018, representing a more than 20% bear market drop… … the drop catalyzed by rising interest rates pressuring P/E multiples, a late cycle economy […]


Taxes: Here’s What’s Going To Stay The Same

Authored by Simon Black via SovereignMan.com, On October 3, 1913, US President Woodrow Wilson signed the Underwood-Simmons Act into law, creating what would become the first modern US income tax. The legislation (at least, the income tax portion) was only 16 pages and imposed a base tax rate of just 1%. The highest tax rate […]


Stockman On America’s Fiscal Sundown, Part 1

Authored by David Stockman via Contra Corner blog, The Senate Finance Committee tax bill is not supply side and it's not even a tax cut; it's a gimmick-ridden policy mongrel that smells to high heaven of political desperation and cynicism. Contrary to the Donald's delusional promise that the American people will get some tax cut sugar plums for Christmas, […]


Is This The Tesla Killer?

We all know the story behind Fisker, it was one of the world’s first plug-in hybrid electric vehicles in 2008, and even had a legal spat between Tesla, but shortly after in 2012 the company crashed and burned in bankruptcy. Last year, Henrik Fisker decided to relaunch his brand. He thought that one failure wasn’t enough—-just […]


Jim Chanos Adds To Tesla Short, Sees Musk Stepping Down

The ongoing vendetta between the scourge of Enron, Jim Chanos, and Elon Musk escalated when the Kynikos Associates founder said he has been adding to his Tesla short position throughout the year even as the company’s shares soared to record highs. Speaking at the Reuters Global Investment 2018 Outlook Summit, Chanos – who first disclosed […]


Frontrunning: November 14

Top central bankers vow to talk investors out of easy money (Reuters) Sessions Considers Probe to Evaluate Clinton-Russia Ties (WSJ) Trump Jr. Exchanged Messages With WikiLeaks (WSJ) German growth surprise lifts Europe as China subdues Asia (Reuters) Kremlin tells companies to deliver good news (Reuters) Venezuela’s Bondholder Meeting Is a Bust as S&P Declares Default […]