Markets News Stocks 

Here’s how Wall Street says to trade Trump’s tax reform

“For more detail, here’s a breakdown of how those two firms, plus two other Wall Street titans, recommend investors play tax reform:” writes Joe Ciolli for businessinsider.com. Corporations aren’t the only ones set to profit from the Republican tax plan that’s expected to be released this week.Just focus on the so-called “Trump trade,” which involves betting on the areas of the market poised to benefit most from the pro-business policy overhaul being touted by the president.Investors have already started piling back into the trade after a long hiatus, as they…

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Trump aims to achieve congressional balancing act on taxes

“In his early effort to build broader support for a tax plan, Trump has focused on Democrats such as Sens” writes Ken Thomas for seattletimes.com. The White House initially pushed hard to overhaul taxes with only Republican support.The White House views this as a once-in-a-lifetime opportunity to simplify taxes and cut rates, while giving Trump a much-needed victory as the Republicans struggle to overturn the Obama health care law.Lawmakers on the House Ways and Means Committee planned to meet Sunday night and Monday to discuss taxes, and House Republicans are…

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In Indiana, Mike Pence asks Democrat Joe Donnelly for his vote on tax reform

“Joe, let’s decide today: We’re going to get this tax cut done, and we’re going to get it done together,” Pence added” writes Joseph Lawler for washingtonexaminer.com. Tax cuts will create an economy where anything is possible, where anyone can achieve the American Dream.”. The Republicans have not released legislation or even a tax plan for Donnelly to support.Joe Donnelly in person Friday in their home state of Indiana for his vote on tax legislation.”Indiana knows the truth: tax cuts mean more jobs,” Pence said. Source: washingtonexaminer.com Share This:

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One way to be happier, and how to get a better deal on a new car

“The longer-run neutral interest rate is now around 2.5%, said San Francisco Fed President John Williams on Friday” writes Maria Lamagna for marketwatch.com. A reverse auction pits car dealers against each other bidding a price down, and you can set it up yourself.Trump warns Republicans over voting against Obamacare repeal; White House seen softening trade stance; Alabama Senate race tests Trump; and more. Source: marketwatch.com Share This:

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Trump doesn’t want to ‘irritate’ Congress on way to tax bill, Commerce Secretary Wilbur Ross says

“Commerce Secretary Wilbur Ross said Friday that the Trump administration doesn’t want to “unnecessarily irritate” Congress on the path to a tax overhaul bill” writes Berkeley Lovelace Jr for cnbc.com. Earlier this month, Treasury Secretary Steven Mnuchin insisted that a tax overhaul would happen this year and added that the administration is “super focused” on the goal. Watch: Wilbur Ross: Autos and auto parts make up more than 100% of trade deficit. But the real priority is going to be getting the tax bill through,” Ross said, adding the president…

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Why Republicans ‘are fooling themselves’ over tax reform

“Congressional Republicans argue that they can in good conscience pass these tax cuts without any corresponding spending cuts or other countervailing measures on the theory that the tax cuts will produce economic growth, and that this economic growth will be so substantial that it will entirely offset the revenue theoretically lost to the tax cuts” writes Kevin Williamson for cnbc.com. They are embarrassed by their inability to execute any proposal of great consequence, and have retreated into that great Republican safe space: tax cuts, the more irresponsible the better.One is…

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Wonkblog: The GOP has a plan to make the $20 trillion U.S. debt even worse

“Senate Republicans have tentatively agreed to a budget deal that would allow them to pass a $1.5 trillion tax cut” reports washingtonpost.com. Then they will come back later this year to enact the details of the tax plan.What the Senate is saying this week is that tax cuts could add as much as $1.5 trillion to the debt.The interest payments alone on U.S. debt are going to triple in the next decade, according to the CBO. That’s before adding an additional $1.5 trillion in debt. Source: washingtonpost.com Share This:

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Swedish retirees are flocking to Portugal to avoid taxes – but they could soon end up like their Danish and Finnish peers

“Last year, Finnish finance minister Petteri Orpo struck a deal with the Portugese finance minister (Mario Centano), which lets Finland tax retirees even if they live in Portugal” reports businessinsider.com. Doing so, they have been able to avoid paying taxes to Sweden, while paying zero taxes on their pension income in Portugal for up to ten years.In recent years, Portugal has become a popular low-tax haven for Swedish retirees. Source: businessinsider.com Share This:

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Traders are gearing up for Trump’s tax cut plan

“President Trump has been talking about cutting the federal corporate tax rate from 35% to 15% since 2015” writes Kara Chin for businessinsider.com.au. It looks like “Trump Trade” is back on beca use of the tax proposal set to be released next Monday, which should reveal specifics on lowering the corporate tax rate.According to JPMorgan head of equity strategy, Dubravko Lakos-Bujas, if the tax rate is cut to 25% that could increase S&P 500 earnings per share by $US11.40 to $US143.40, adding 150 points to the index at the given…

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Markets News Stocks 

Stocks could rally 10% into year’s end thanks to the Trump effect, says Jeremy Siegel

“I think a corporate tax deal will be done, and I think that will be positive for the equity market,” he said” writes Don Emmert for cnbc.com. It’s the second time in less than 12 months that Siegel, a longtime bull, has made a bold market call.”I would say corporate tax reform could add another 10 percent to the market even this year,” Siegel said Wednesday on CNBC’s “Trading Nation.”.  Source: cnbc.com Share This:

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