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Of Taxes & Whales: Bitcoin’s New Headaches

Authored by Constantin Gurdgiev via True Economics blog, I have recently mused about the tax exposures implications of Bitcoin 'investments', and in particular, my suspicion that many of today's BTC enthusiasts (retail investors speculating on BTC and other cryptos) are likely to be caught out with unexpected and un-covered tax liabilities arising from trading in […]


Why Wall Street Is Furious At The Trump Tax Plan

Back in October 2016, the “millionaire, billionaire, private jet owners” of America’s elitist, liberal mega-cities (A.K.A. New York and San Francisco) celebrated the tax hikes that a Hillary Clinton presidency would have undoubtedly jammed down their throats proclaiming them to be a ‘patriotic duty’.  Unfortunately, now that Trump has given them exactly what they apparently […]


Why A Scathing Wall Street Is Furious At The Trump Tax Plan

Back in October 2016, the “millionaire, billionaire, private jet owners” of America’s elitist, liberal mega-cities (A.K.A. New York and San Francisco) celebrated the tax hikes that a Hillary Clinton presidency would have undoubtedly jammed down their throats proclaiming them to be a ‘patriotic duty’.  Unfortunately, now that Trump has given them exactly what they apparently […]


Goldman Finds Tax Reform Will Greatly Benefit The Big Banks

It’s not just the ultra rich, as well as a dazed and confused Bob Corker who is set to reap a $1+ million windfall from the passage of a tax bill which he opposed until just days ago, who will benefit from the passage of tax reform: according to Goldman Sachs among the biggest beneficiaries […]


What’s In The Final Republican Tax Bill: Goldman Explains

While we published both the full text(1,097 pages) and the “explanatory” statement (only 570 pages) released by the House-Senate conference committee on the final Republican Tax Bill, also known as the Tax Cuts and Jobs Act (TCJA), we are confident not many readers – or anyone else for that matter – will read the full […]


The Best Tax Incentive In The World

Authored by Simon Black via SovereignMan.com, In a move almost destined to prove that laws and policies have absolutely zero meaning, the European Union released a list of “tax havens” last week… with a massive, giant, highly conspicuous omission. The blacklist contains the names of the usual suspects– Panama, United Arab Emirates, etc., along with […]


Five European Nations Issue Warning To America On Tax Reform

First it was the Chinese, now it’s the Europeans, as the rest of the world is suddenly very unhappy with the prospect of US tax reform (or maybe it is an unexpectedly strong US economy). As we discussed yesterday, with the historic Trump tax reforms on the verge of passage and the Fed’s dot plot […]


Is Tax “Reform” Good For The US Dollar? How About Gold?

Authored by Mike Shedlock via www.themaven.net/mishtalk, Let's investigate what happened after the last 3 major tax reforms. Another "reform" is on deck.  I picked up this idea from Holger Zschaepitz, @Schuldensuehner, who made the following Tweet, posting a chart from Bloomberg. Proposed US tax overhaul, 3rd major change to US tax code over past 40yrs, […]


The “Bombshell” Reason Tech Stocks Just Suffered The Biggest Rout Since Brexit, In Two Charts

“Last week, after making new highs, the NASDAQ “reversed” to the downside. It bounced from there, but yesterday’s action was horrific, for having opened sharply, violently, surprisingly higher, by the day’s end the NASDAQ was sharply, violently, surprisingly weaker and it was so even as the Dow finished higher on the day, albeit materially below […]


Summers Warns “1000s Will Die” But Who Are The Real Winners & Losers From Trump’s Tax Reform?

While many in the 'resistance' have vociferously denounced the Senate tax reform bill in the last 48 hours, former Treasury Secretary Larry Summers took the proverbial biscuit by warning that "thousands will die as a consequence of this new tax bill." The Congressional Budget Office estimated that the tax bill could reduce insurance coverage by […]


Tax Deal Sends US Futures Soaring To New All Time High; Dollar, Yields, Global Stocks Follow

The dollar jumped the most in two weeks, pushing Treasury yields as much as 6bps higher (before easing back) with US equity indexes primed for a another record-setting day after Senate Republicans approved a reduction in the corporate tax rate as part of a sweeping overhaul, giving a boost to President Donald Trump’s stimulus plans. […]


Tax Reform Rotation

Authored by Kevin Muir via The Macro Tourist blog, I have often said that as traders, it is not our job to pass judgment on what should be, but, instead, to take advantage of what is. I will try to stick to that mantra when discussing the US tax “reform” package, but I must admit, […]


Monaco Has To Build Into Mediterranean Sea To House Super-Rich

The principality of Monaco is about the same size as New York’s Central Park and slightly bigger than London’s Regent’s Park. Besides hosting the Monaco Grand Prix it is home to thousands of multi-millionaires, including tennis player Novak Djokovic and F1 driver Lewis Hamilton, who enjoy the fact that Monaco does not levy income tax […]


Before You Book That Vacation, JPM Warns Multiple Spoilers Are Converging In November

One week ago, Jan Loeys – the person who wrote “The JPMorgan View” for 15 years – announced his exit, as he transitioned from tactical asset allocation to longer-term strategy, and that he would be handing over the authorship to John Normand, and soon Nikos Panigirtzoglou and Marko Kolanovic, but not before summarizing what he […]


Forget The Bogus Republican “Reform”: Here’s What Real Tax Reform Would Look Like

Authored by Charles Hugh Smith via OfTwoMinds blog, The point is to end the current system in which billionaires get all the privileges and financial benefits of owning assets in the U.S. but don't pay taxes that are proportional to the benefits they extract. As has been widely noted, the Republicans' proposed "tax reform" is […]