Even though I have said this before apparently no one was listening so I have to say it again* because every time a new tax reform bill is proposed, the same clichés are trotted out and most of them are wrong. The purveyors of these clichés know they are wrong but they don’t care because they are trying to manipulate you to their ends. And, people fall for them.
Here is what the polls say about what Americans think about taxes (Gallup, Pew Research):
For the second consecutive month, BofA's credit clients responded that there is one thing they find to be the biggest market risk: "quantitative failure", which is also a euphemism for central banks losing control of the bubble they have been inflating for the past 9 years. It's a relatively novel fear, replacing "bubbles in credit" (i.e., not the deflation but inflation part) and "populism" in recent months, although we have a sense that populism may be right back up there very soon.
"I want it all... and I want it now...!!!"
Credit spreads have collapsed in recent weeks - back to post-crisis lows...
Just hours after Equifax CEO Rick Smith wrapped up his testimony before the House Energy and Commerce committee – the first in a series of Congressional “fact-finding missions” about the hack - Politico reported that the IRS last week awarded the disgraced credit monitoring bureau with a $7.25 no-bid contract even as the company struggled to address suspicions that it mislead investors and customers by withholding information about one of the most damaging data breaches in US history.
Authored by Kevin Muir via The Macro Tourist,
The current front-runner for the next Fed Chair is Kevin Warsh. He seems to have all the prerequisites that Trump idolizes. He’s connected. He’s not an academic. He has conservative leanings.
But most important, he’s rich. I mean really rich.
You see, Kevin married the granddaughter of the founder of the Estee Lauder company.