Wall Street is maneuvering to propose and implement a new retirement tax on Americans under a Hillary Clinton Administration. Leading the charge is billionaire financial oligarch Tony James, who is COO of private equity giant Blackstone. Mr. James is a generous contributor to Hillary Clinton’s Presidential run, and is listed as a “Hillblazer” by her campaign for having raised at least $100,000 toward her candidacy.
The Tax Foundation has an interesting analysis of Trump’s tax plan compared to Hillary’s. Hillary is negative on GDP, capital investment, wage growth, and jobs. Trump is positive on all four under two different models.
The Bank of England’s inept monetary policies under Mark Carney’s governorship seem certain to expose the fragility of fiat sterling to wider public attention and skepticism. If the consequences weren’t so serious, we might thank him for unwittingly toppling the status quo. But the inevitable crisis, many times worse than that faced in 1975, cannot be embraced even by the most extreme financial masochist. This is why people in Britain and America will increasingly find solace in gold.
Despite overwhelming factual evidence that crackpot Keynesian spending machinations; debasing the currency; interest rate manipulation; globalization; perpetual war; incurring unpayable levels of debt; making $200 trillion of unfunded welfare promises; has created a seething anger across the land, Hillary Clinton and her establishment flunkies propose doubling down on those same failed policies.
The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936.79. That’s an increase of $1,422,827,047,452.46 over last year’s fiscal year close.
tax collections will be down 2.1% in the second quarter relative to last year, reflecting a decline of 3.3% in personal income taxes and a 9.2% plunge in corporate tax collections. The trend in individual income taxes at the state level in recent quarters tracks the sharp decline we have reported previously at the federal level.
Purchases by the China's teapot refiners, granted permission last year to buy foreign crude, have soaked up some of the global oil glut over the past years. However, blistering crude oil demand from teapots may be about to hit a brick wall as a government tax crackdown threatens to constrain this new source of demand from China.
Immigration, terrorism, foreign policy, and the candidates' potentially problematic personality traits have dominated the 2016 US presidential race, and far less has been said about their proposals for the economy. But there are substantial differences between the two candidates in this respect, too, and they need to be examined.
The processes that fueled the economic growth over the last 30 years are now beginning to run in reverse, and when combined with the demographic shifts in the U.S., the impact could be far more immediate and prolonged than the media, economists and analysts are currently expecting...It is simply a function of the math.