Silver as an investment

Category Archives: Ways and Means Committee

Steven Mnuchin: “Nobody Thinks Russia Had An Impact On The Election”

With at least one crucial vote on the White House’s tax reform plan looming later this week, and Special Counsel Robert Mueller reportedly preparing to indict former National Security Adviser Michael Flynn and possibly his son as well, Treasury Secretary Steven Mnuchin defended the administration’s approach to both issues during an appearance on CBS’s “Face […]

Here Is The Full Text And Summary Of The Amended House GOP Tax Bill

While we await the full details of the Senate bill, moments ago the House Ways and Means Committee released the Amended House GOP tax bill, as well as its summary. Here are the key highlights from the Amendment (link), first in principle: Amendment to the Amendment in the Nature of a Substitute to H.R. 1 […]

Goldman On Tax Reform: “Now Comes The Hard Part”

The ink wasn’t even dry yet on the just published Republican Tax Cut And Jobs Act, and within the hour UBS was already confident that it has virtually no chance of passing: As UBS chief economist Seth Carpenter wrote shortly after the publication, “to our read, the release confirms our view that tax reform is […]

“Bubble Tax”: The GOP’s Hidden 46% Tax Bracket

Authored by Danny Vinik via TheAgenda, If you’re rich enough, some of your income is taxed at a rate unseen since the ‘80s. House Republicans claim the tax plan they introduced Thursday keeps the top individual rate unchanged at 39.6 percent – the level at which it’s been capped for much of the past quarter-century. […]

Tesla’s Having The Worst Day Ever As GOP Tax Plan Calls For Axing Electric Car Credit

Tesla may be officially having the worst day ever.  One day after announcing its worst quarter in history, in which it burned a record $1.4 billion in cash (which is about $15.5 million every single day, btw)… …a couple of GOP Representatives had to come along and propose a tax bill that would eliminate a […]

S&P Futures Flat, Spain Rebounds, Nikkei Closes At 21 Year High

S&P500 futures point to a slightly lower open, as Asian stocks rise to trade near decade highs, with Japan’s Nikkei 225 closing at highest since 1996. European stocks are little changed, with Spanish shares gaining after Catalan President rows back from an immediate declaration of independence. MSCI's all-world stocks index briefly hit a fresh record […]

The “Trump Tax Plan” – Details & Analysis

Submitted by Lance Roberts of Real Investment Advice Almost a full year after the election of Donald Trump to the White House, one of the key promises made to voters was the largest “tax cut” since Ronald Reagan was in office. As President Trump stated in Indiana yesterday: “This is a revolutionary change, and the […]

Best Day For The Dollar Since January: Here’s Why

The Bloomberg dollar index has surged, rising as much as 0.8% higher against all G-10 peers, its biggest advance since Jan. 26, and is on track for its first weekly gain since early July. The move has been largely attributed to the “stronger-than-expected employment and wage gains”, although as several banks commented shortly after the […]

Trump’s Decision To Terminate Comey Is Now Delaying His Economic Reform Schedule

In JPM’s initial market comment this morning, reacting to the news of Comey firing, the bank said that “as far as the market is concerned, Comey’s dismissal saps Trump’s political capital and weakens relations w/Congress at the time when he is trying to move an ambitious pro-growth agenda through the Senate and House.” What JPM […]

Still Confused About Trump’s 1-Page Tax Plan? Goldman Explains It All

Since at its core, yesterday’s 1-page “tax plan” was a Goldman creation – and was presented to the world by two former Goldman employees –  who better to explain what Trump had in mind than Goldman Sachs itself, which it did overnight in a far lengthier note from its chief Washington analyst Alec Phillips.  Here […]