Tax Revenue

Angst In America - Turning Today's Millennials Into Tomorrow's Debt Serfs

"Being young and having no job remains stubbornly common... Like medieval serfs in pre-industrial Europe, America’s new generation, particularly in its alpha cities, seems increasingly destined to spend their lives paying off their overlords, and having little to show for it. "

Why We Should Be Concerned About Low Oil Prices

Most people assume that oil prices, and for that matter other energy prices, will rise as we reach limits. This isn’t really the way the system works; oil prices can be expected to fall too low, as we reach limits. Thus, we should not be surprised if the OPEC/Russia agreement to limit oil extraction falls apart, and oil prices fall further. This is the way the “end” is reached, not through high prices.

Weekend Reading: Sentient Illumination

With a continuing resolution for $1 Trillion passed this week, which will fund the government for 5-whole months, there seems to be little consideration given to the disconnect between increase debt levels and slower economic growth.

As The Puerto Rico Lawsuits Begin "A Bankruptcy Is A When, Not An If"

On Tuesday Puerto Rico and its federal financial oversight board were flooded with the first lawsuits from stakeholders, with more expected in the coming days, which could ultimately push the insolvent U.S. territory into bankruptcy, and in fact prompting one analyst to conclude that "I continue to think bankruptcy is a when, not an if."

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

5 Actual 'Facts' About Tax Reform

Investors want to see corporate tax reform (including repatriation relief) succeed. Individual tax reform is a “Nice to have” but negotiations there could derail the corporate side.

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, who better to explain what Trump offered than Goldman Sachs itself. Here is Goldman with an elaboration of the handful of bullet points contained on the much anticipated one page, extended to 6 pages.

When Bulls Collide

With this backdrop of weakening underpinnings of the “Trump Trade” but exuberant hopes of a continued bull market run comes the potential collision between markets. It is highly unlikely that bond bulls and stock bulls will both be right.

Two Trends That Will Force The Fed To Start Buying Stocks

While the Japanese and Swiss central banks have turned themselves into hedge funds by loading up on equities, the US Fed has stuck to supporting the stock market indirectly, by buying bonds. It’s worked, obviously, with all major US indexes at record highs. But it won’t work going forward, thanks to two gathering trends.