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3-(Mis)Statements About Tax Reform

Authored by Lance Roberts via RealInvestmentAdvice.com, With the passage of the Tax Cut And Jobs Act on Wednesday, I wanted to address a few of the questions and misinformation currently circulating about the impact of tax cuts on the U.S. economy. Over the last couple of months, I have been repeatedly asked why I am […]


The Big Problem With The GOP Tax Cut, Charted

While the jury will be out for years whether the Trump tax cuts will boost the economy (they already had an outsized impact on markets, pushing the Dow by nearly 5,000 points higher since Trump’s election), there are several key problems that remain outstanding. The first one, as the following JPMorgan chart shows, is that […]


A Fiscal Disappointment – Of Tax Reform & Growth Fairies

Via RealInvestmentAdvice.com, I encourage you to take a few minutes to review my previous analysis of the effectiveness of tax cuts on the economy. Bull Trap – The False Promise Of Tax Cuts 3-Myths About Tax Cuts It’s The Debt, Stupid The Committee For A Responsible Budget penned after the passage of the tax bill: “The […]


Weekend Reading: It’s The Debt, Stupid

Authored by Lance Roberts via RealInvestmentAdvice.com, As I noted last Friday, the recently approved budget was an anathema to any fiscally conservative policy. As the Committee for a Responsible Federal Budget stated: “Republicans in Congress laid out two visions in two budgets for our fiscal future, and today, they choose the path of gimmicks, debt, […]


3 Myths About Tax Cuts

Authored by Lance Roberts via RealInvestmentAdvice.com, On Friday, I touched on the proposed “tax cut/reform” bill introduced by the House Ways and Means committee which is chaired by Congressman Kevin Brady. Some of the key highlights of the “House plan”  are as follows (courtesy of Zacks Research): No change to 401(k) contribution caps Repeal the […]


Weekend Reading: Will Tax Reform Deliver As Expected?

Authored by Lance Roberts via RealInvestmentAdvice.com, As I noted last Friday, the recently approved budget was an anathema to any fiscally conservative policy. As the Committee for a Responsible Federal Budget stated: “Republicans in Congress laid out two visions in two budgets for our fiscal future, and today, they choose the path of gimmicks, debt, […]


Weekend Reading: Markets Love Central Banks – No Matter What They Do

Authored by Lance Roberts via RealInvestmentAdvice.com, I discussed yesterday, the apparent “myth” of the Fed’s proposed “balance sheet reduction” program as the most recent analysis shows a $13.5 billion “reinvestment” into their balance sheet which has helped fuel the recent market advance. But therein lies the potential “fatal flaw” of the “bullish logic.”  At the […]


Congress Takes The First Step To Pass Tax Reform: Here’s What Comes Next

Today The House passed the 2018 budget resolution in a 219-207 mostly party-line vote (18 republicans voted against the resolution along with all Democrats), representing the first step toward the Republican goal of sending tax-reform legislation to President Trump. Republican lawmakers hailed the vote as meaningful because the due to the budget reconciliation rules, the […]


Market Gives Up Trump-Tax-Hope Gains After UBS Says “Tax Reform Won’t Happen”

Well that de-escalated quickly…   Following yesterday's breathless rip higher in small cap stocks (which are down today) and 'high-tax' stock outperformance (which is collapsing today), it appears 'sell the news' is more today's meme as many on Wall Street question the chances of getting a bill through… and what its effect would be. As […]