Business

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 wanted...an amazing opportunity to 'spread their wealth around"...they're suddenly feeling a lot less patriotic. 

But, but, but... it wasn't supposed to be priced in...

On the day Trannies and Small Caps managed gains...

Futures show stocks dumped again at the open, tried valiantly to bounce back... but failed...

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 all prior Republican tax cuts in US history took place when debt/GDP ratios were less than 40%.

Here we go again, again.  

With the relationship between AT&T (and Time Warner) and the Trump administration on the rocks, as the DOJ is now suing to break up the merger which just happens to include Trump's media nemesis CNN, it appears that AT&T is offering an olive branch to the president, as well as a little backdoor bribe to improve sentiment, and moments ago announced that once tax reform - i.e., Trump's signature act to date - is signed into law, AT&T will not only invest an additional $1 billion in CapEx in the US in 2018, but also pay a "special bonus" of $1,000 to its more than 200,000 U