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Five Key Facts About The Republican Tax Reform Bill

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Contrary to what the main stream media has been telling you…

1. Huge income tax cuts for the middle class.

The Republican tax bill will slash income tax rates across the board, but the middle class will experience the greatest tax cuts. The Cato Institute’s Chris Edwards noted that under the bill, “higher earners will pay an even larger share of the overall income tax burden than they do now. Our highly ‘progressive’ income tax will be even more progressive.”

2. Corporate taxes slashed.

Democrats seem to have a much stronger case when it comes to corporate tax rates. The Republican tax reform bill will indeed cut the corporate tax rate, but that does not mean it is a special interest gift to big business.

The United States of America has the highest statutory corporate tax rate in the developed world — 39 percent (including state-level taxes). As National Review‘s Robert VerBruggen pointed out, corporations actually pay roughly 29 percent, due to various loopholes and carve-outs.

Read the whole thing: www.pjmedia.com

Not Everyone Wants Us To Keep More Of ‘Our’ Money

Rollback Armageddon

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Trump’s Regulatory Rollback: Not 2 to 1, but 22 to 1!

The lede: 

In his first 11 months in office, President Donald Trump is keeping another of his campaign promises: reducing regulations so that the economy can breathe again. Speaking in the Roosevelt Room — an irony that may have been intended — Trump summarized brilliantly exactly how the greatest economic miracle in history got bogged down:

Congress has abandoned much of its responsibility to legislate [see Article I, Section I of the U.S. Constitution: “All legislative powers herein granted shall be vested in a Congress of the United States”], and has instead given unelected regulators … extraordinary power to control the lives of others. The courts have let this massive power grab go almost completely unchecked and have almost always ruled in favor of big government. With billions and billions of dollars wasted, regulation is a stealth taxation. So many of these enormous regulatory burdens were imposed on our citizens with no vote, no debate, and no accountability.

Read the whole thing:  www.thenewamerican.com

Look no further than this massive rollback for the extreme optimism among small business owners.  They are the engine of the U.S. economy.  They are being unleashed.

Hat tip thenewamerican.com/advisorperspectives.com

Rollbacks Matter

All this winning…

The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the fourth quarter of 2017 closer to 4 percent, based on revisions of prior data that suggested stronger economic activities.

The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace of 3.98 percent in the fourth quarter, quicker than the 3.92 percent rate calculated a week ago.

The New York Fed said its latest tracking estimate on GDP growth for the first three months of next year was 3.15 percent, compared with 3.12 percent from last week.

Hat tip Reuters.com

Thirsty Raptor

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From strategypage.com:   An F-22 Raptor aircraft receives fuel from a KC-10 over Iraq, Nov. 29, 2017. The F-22, assigned to the 380th Air Expeditionary Wing, is supporting Operation Inherent Resolve. Air Force photo by Tech. Sgt. Anthony Nelson Jr.

Cold To The BONE

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From Strategypage.com:  A B-1B Lancer takes off from Ellsworth Air Force Base, S.D., March 27, 2011, on a mission in support of Operation Odyssey Dawn. (U.S. Air Force photo/Staff Sgt. Marc I. Lane)

The Trump ‘Miracle’

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The lede:  The Trump administration has blown out of the water its goal of killing two Obama regulations for every new one created, resulting in an “economic miracle,” according to a senior administration official.

Previewing President Trump’s Thursday announcement on his team’s success, a top official said that the reduction on regulations has topped 10 for every new one imposed.

“An economic miracle is happening,” the official told Secrets. “We are pulling away from the economic headwinds we faced early and the tax cut will sustain our efforts. It’s a two for one punch.”

As we’ve stated here, we believe the rollback stampede the Trump administration is on has given small businesses a major boost in confidence.  They will hire more, they will expand, they will grow.  This should be a mystery to no one.  But, unfortunately it is, to the folks on the other side of the aisle.  

Read the entire Washington Examiner article here:  www.washingtonexaminer.com

And It’s Still Not Enough

We have a spending problem, not a taxing problem…

The lede:    The federal government collected record total tax revenues of $443,715,000,000 in the first two months of fiscal 2018 (Oct. 1, 2017 through the end of November), according to the Monthly Treasury Statement.  Despite these record tax revenues, the federal government still ran a deficit of $201,761,000,000 for those same two months.

That is because the government spent $645,476,000,000 in October and November.

The $443,715,000,000 that the federal government collected in taxes in the first two months of this fiscal year was $12,873,120,000 more in constant 2018 dollars than it collected in the first two months of fiscal 2017 and $11,352,180,000 more than it collected in the first two months of fiscal 2016.

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Read the whole thing:  www.cnsnews.com

How’d You Like To Be This Smart?

The S&P 500 Index made its 60th all-time high for the year on Tuesday.  Only 1995(77)and 1964(65)have made more. 

Steady.  Higher.  Relentless.

Exit question, #1:  Has multi-billionaire genius Mark Cuban taken off his shorts yet? 

                         #2:  Does Nobel Prize winning economist Paul Krugman still believe the market will  never recover?

Hat tip Ryan Detrick.

 

 

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