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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 […]


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 […]


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 […]


Republicans Reverse, May Allow State Income Tax Deduction

One day after the top Senate Republicans realized they probably should have read the tax bill they voted for in the deep of the night on Saturday morning, and announced they are seeking to repeal the Alternative Minimum Tax they passed just days earlier, realizing it could punish growing companies, they now also appear to […]


Trump Tax Plan Greatest Gift Establishment Ever Got

The following article by David Haggith was published on The Great Recession Blog: As soon as President Trump put his Goldman boys, Gary Cohn and Steven Mnuchin, in charge of his tax plan, I knew Trump’s tax plan would never fulfill his and his henchmen’s promises of helping the middle class and of not giving additional […]


“Here’s What’s In It”: Goldman Explains All You Need To Know About The Current State Of Tax Reform

To the delight of Donald Trump, just before 2am on Saturday morning the Senate passed the Republican Tax bill in a 51-49 vote, and with tax reform legislation now passing both chambers of Congress it looks very likely to become law by year-end, probably within the next two weeks according to Goldman Sachs which now […]


In Major Victory For Trump, Senate Passes “Sweeping” Tax Bill Which Nobody Read: Here’s What’s In It

Shortly before 2am on Saturday, the Senate passed “the most sweeping rewrite of the U.S. tax code in three decades, slashing the corporate tax rate and providing temporary tax-rate cuts for most Americans” handing Republicans a badly needed legislative and political victory. Senators voted across party lines in a 51-49 vote, ending days of debate […]


Futures Surge As Johnson, Daines Greenlight Tax Bill

After a planned series of votes on the Trump tax plan were called off last night, GOP senators were scrambling to assuage the concerns of Republican holdouts who suddenly decided that the tax bill would blow out the deficit after one proposal – a so-called “trigger” that would automatically raise taxes if revenue targets aren’t […]


“A Potential Nightmare Scenario For The GOP”: Tax Vote Delayed To Friday; May Include $350BN In New Tax Hikes

Update: The Senate tax plan roll vall vote which was widely expected to take place on Thursday evening, has been pushed back to 11am on Friday following the collapse of the “Trigger” compromise (discussed below) to win a majority for a Senate tax overhaul left Republicans scrambling to salvage the legislation, Bloomberg reports. While debate […]


Senate Bill Nearly Killed By Deficit Hawks: Will Include $350 Billion In New Tax Hikes

Following a report from the Joint Committee on Taxation, which unveiled late on Thursday afternoon that the Senate Tax bill would generate enough economic growth to lower its $1.4 trillion revenue cost by only about $458 billion over a decade – in other words it would still boost the deficit by roughly $1 trillion – […]


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, […]


Millions Upon Millions of Americans Have “Negative” Wealth

Millions Upon Millions of Americans Have “Negative” Wealth Posted with permission and written by Rory Hall, The Daily Coin     While 3 Americans possess more wealth than 50% of the combined poorest, we now learn that 20% of ALL Americans have zero or negative wealth. I presume by having “negative wealth” they have lived […]


Stockman Slams “The Awesome Recovery” Narrative

Authored by David Stockman via Contra Corner blog, One of the great philosophers of recent times was surely Sgt. Easterhaus of "Hill Street Blues". As he assigned his men to their daily rounds in the crime infested streets of the Big Apple he always ended the precinct's morning call with his signature admonition: "Let's be carful […]


George Soros To Congress: “Please Don’t Cut My Taxes”

After transferring over the bulk of his personal wealth to his “Open Society” Foundation – the umbrella organization for a network of dozens of political groups that push Soros’s far-left agenda across the US and Europe, Soros is still comfortable enough to justify giving away even more of his money – this time to the […]


Repealing Obamacare’s Individual Mandate Would Save $338 Billion

With Republicans scrambling to find every possible dollar to pay for Trump’s “massive” tax reform package, on Wednesday morning a new analysis by the CBO calculated that repealing ObamaCare’s individual mandate – an idea that had been floated previously by Trump – would save $338 billion over 10 years. CBO previously estimated repeal would save […]