Federal Tax

The Myth Of Authority... "But There'd Be No Roads!"

Imagine if you were allowed to keep what you earned. Not 60 percent of it. All of it. To spend as you see fit, on only the things you need and want. Probably, there would be roads. Very good ones.

3 Things: Policy Hopes, Consumer-Spending Puppies, & Tax-Cut Rainbows

"Will “Trumponomics” change the course of the U.S. economy? We certainly hope so as any improvement that filters down to the bottom 80% of the country will be beneficial. However, as investors, we must understand the difference between a “narrative-driven” advance and one driven by strengthening fundamentals. The first is short-term and leads to bad outcomes. The other isn’t, and doesn’t. "

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.

About That "Fair Share"

There are two words that kept coming up over and over again over the last 20+ months during the US Presidential circus: “fair share”. It sounds really great, and given the voter statistics, this idea resonated with tens of millions of people. After all, who could possibly be against fairness? When you dive into the numbers, however, the data doesn’t support this assertion at all.

Can Trump End The War On Coal?

Two things to look for in the coming days: is the war on coal a priority for the new administration’s first 100 days? We would bet not. Second, we would expect a gradual softening in rhetorical tone.

Trump Goes To The White House At 11am To Begin Transition Process

  • 11:00 am: Trump meets with Obama in the Oval Office
  • 12:30 pm: Trump and his vice president-elect, Mike Pence, will meet with House Speaker Paul Ryan for lunch.
  • 2:45 pm: Pence and Biden will hold a closed-press meeting at the White House, the vice president’s office said.

Paul Volcker Explains Why The Fed Can't Raise Rates

"Our current debt may be manageable at a time of unprecedentedly low interest rates. But if we let our debt grow, and interest rates normalize, the interest burden alone would choke our budget and squeeze out other essential spending. There would be no room for the infrastructure programs and the defense rebuilding that today have wide support."

While Media Obsesses Over Pussy-Gate, US Debt Soars To $19.7 Trillion

The US government’s debt level has soared to just a hair under $19.7 trillion. To give it some context, that’s up over $170 billion in just eight business days.... the fastest pace in 13 months. It’s almost as if Barack Obama is intentionally and desperately trying to breach the $20 trillion mark before he leaves office in January.