Welcome back from Labor Day weekend! I hope it was a great one for all our readers. I was out in Texas for the first time, and as a good conservative, it pains me to be back in the swamp! But, lucky for us, this shortened work week did provide us with some exciting economic news to come home to. Here are three of the biggest stories from this week: 1.) Trump is asking you if you support his plan to index capital gains for inflation. This week Steve Forbes retweeted a column by Senator Ted Cruz (R-Texas) and Americans
As President Trump is finding out this year, House Democrats have been an enormous roadblock to his America First agenda. House Speaker Nancy Pelosi has not only stalled immigration reform and infrastructure talks, she’s also joined the conspiracy choir in hurling insults at the President long after his exoneration from charges of Russian collusion by the Mueller report. Unfortunately for Pelosi, according to recent reports, she will be unable to stop the next big policy achievement from the White House. President Trump may soon completely bypass Congress to deliver massive tax cuts that would add rocket fuel to the U.S.
Last week, President Trump told Bloomberg News that he is considering indexing capital gains to inflation. If the President follows through with this plan, his timing really couldn’t be better. This free market policy change should send market sentiment soaring right before the midterm election. I have previously written that indexing capital gains to inflation would be “the single-most pro-growth policy that stands a shot at being enacted this year.” Why? Because President Trump doesn’t need to go through Congress in order to accomplish this — he just needs to sign an executive order directed to Treasury Secretary Steve Mnuchin.
1.) The Incredible Stock Market Run Continues Today, US stockholders should raise their glasses to toast the longest bull run in American history. USA Today reports: The long, upward rise in U.S. stock prices that began in March 2009 near the end of the Great Recession — a rally that survived countless scares and was doubted every step of the way by market skeptics — is about to surpass the famed surge from the 1990s as the longest-running bull in Wall Street history….The main drivers pushing share prices even higher, market experts say, are a U.S. economy powering along at
While much of the attention in Washington D.C. has turned to the GOP’s “Tax Cut 2.0” blueprint, yesterday The New York Times reported that a “Tax Cut 1.5” may be in the works. According to the story, the Trump administration is considering a unilateral move to index capital gains to inflation. As I have written before, indexing capital gains to inflation would be a huge move to turbocharge economic growth. Currently, when individuals invest in stocks (without using a tax-exempt vehicle like a 401k) or real estate, they are subject to real capital gains taxes on fake gains. This is
The stock market has been jittery recently amid trade war fears and the possibility of more government regulation for tech companies such as Facebook and Amazon. With the recent market turbulence, is there any hope that the Dow can shatter its all-time high of 26,616 this year? Short answer: Yes! In fact, if President Trump takes a page from “Improbable Success Productions” Chairman Richard Rahn, Dow 27,000 may be just around the corner. Writing for the Washington Times, Richard Rahn made the case for one big idea to turbocharge the economy — protect capital gains from inflation. As Rahn wrote: