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'A key part of House Republicans' plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump's biggest priorities and increasing the chances the GOP will simply pass a tax cut instead of overhauling the tax code.'
Hang onto your hats, the Trump bump may be in big trouble. Easy come, easy go.
'Month-to-month data continued to look terrible across the board. Falling industrial production, another bout of deflation, declining housing permits, and falling retail sales all turned up in this week's data, topping off anemic employment numbers, motor vehicle data, and construction statistics. Year-over-year, averaged data was much more benign, not showing much change from previous levels of modest but uninspiring growth.'
'key growth sectors of the economy had been quietly eroding. Also, the demographics of a smaller working-age population and a higher percentage of low-spending, recently retired baby boomers would provide some fierce headwinds for growth'
First off, Republicans have no economic plan. You can't realistically cut taxes and reduce the deficit at the same time. The cuts that they'll make are too small to matter.
Second, month-to-month economic data has little to do with the president, no matter who is in office. Even if Congress and Trump together passed legislation, it would take months or years to promulgate, and further months and years to see how it impacts the economy.
You are correct on both counts. But, I believe that Trump's only "plan" is to take credit for economic positives that he and the GOP have not actually influenced. So, since they have chosen to take credit, they get to hold the bag when it goes the other way. Plus, we are getting closer everyday to the point where the current administration "owns" the economy. Whether they like it or not.
And since Trump supporters believe that Trump has somehow fundamentally driven the equities markets to higher levels that are sustainable, a look at underlying fundamentals is not entirely without merit.
If Trump's promised policies do not materialize soon, and fundamentals keep eroding, we could be in for a deep correction. That doesn't even take into account the trade/immigration actions he has already taken that may not work out in the US best interests.
If they are unable to produce a comprehensive tax reform plan, they will resort to the 'smash and grab' tactics of cutting taxes even if it means a growing deficit.
You are correct on both counts. But, I believe that Trump's only "plan" is to take credit for economic positives that he and the GOP have not actually influenced. So, since they have chosen to take credit, they get to hold the bag when it goes the other way. Plus, we are getting closer everyday to the point where the current administration "owns" the economy. Whether they like it or not.
And since Trump supporters believe that Trump has somehow fundamentally driven the equities markets to higher levels that are sustainable, a look at underlying fundamentals is not entirely without merit.
If Trump's promised policies do not materialize soon, and fundamentals keep eroding, we could be in for a deep correction. That doesn't even take into account the trade/immigration actions he has already taken that may not work out in the US best interests.
We're due for one anyway, whether Trump is president or not.
Neither presidents nor congresses can repeal the business cycle. But they can influence how long the fluctuations last, who benefits, and who gets hammered.
First off, Republicans have no economic plan. You can't realistically cut taxes and reduce the deficit at the same time. The cuts that they'll make are too small to matter.
Second, month-to-month economic data has little to do with the president, no matter who is in office. Even if Congress and Trump together passed legislation, it would take months or years to promulgate, and further months and years to see how it impacts the economy.
Sure "didn't take months or years" in Bill Clinton's first term, now did it?
No Republican will E-V-E-R match that record! Any old-timer from the Depression-era will tell you, that the only time they remember being hungry is when a Republican was in office!
A recession is coming, and it's going to be nasty with Trump at the helm. I think it could end with him being perceived like Hoover. Hoover presided over the stock market crash of '29 and he was known for doing nothing to help the economy. In fact, the only thing he did was the Smoot-Hawley tariffs which made things much worse. I can see Trump doing something similar.
If we have 15-20% unemployment and the stock market down below 10,000 going into the 2020 election, do you really think Trump is going to be re-elected?
People won't be worried about things like who uses what bathroom in that type of scenario.
'A key part of House Republicans' plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump's biggest priorities and increasing the chances the GOP will simply pass a tax cut instead of overhauling the tax code.'
Hang onto your hats, the Trump bump may be in big trouble. Easy come, easy go.
'Month-to-month data continued to look terrible across the board. Falling industrial production, another bout of deflation, declining housing permits, and falling retail sales all turned up in this week's data, topping off anemic employment numbers, motor vehicle data, and construction statistics. Year-over-year, averaged data was much more benign, not showing much change from previous levels of modest but uninspiring growth.'
'key growth sectors of the economy had been quietly eroding. Also, the demographics of a smaller working-age population and a higher percentage of low-spending, recently retired baby boomers would provide some fierce headwinds for growth'
If he fails to provide at least some of the tax cuts, it will be a Trump slump.
And this is the problem, trump talked and BSed about his great plans, but he did not have any real plans other than promises of "great plans". that is his only plan, the promise of something down the road.
Now we are seeing how that works out, so far 6 months in Trump has made things worse not better.
Literally no part of our economy or culture has improved. Sessions wants to lock everyone up. Pai has destroyed the FCC. Wall street is running itself and removing, reducing any and all restrictions.
No new military policy other than killing vastly more members of the public. Embracing thugs , fighting with friends.
It is s cluster duck, i know it, you know it, trump knows it.
They should have done tax reform before healthcare. It was the lower hanging fruit.
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