Trump, Policy, Markets

Trump, Policy, Markets David R. Kotok Cumberland, January 17, 2017       As Don Rissmiller of Strategas Research Partners succinctly points out: “There are four types of government policy that can be used to steer the economy: 1) monetary policy, 2) fiscal policy, 3) regulatory policy, and 4) trade policy.” We will use Don’s…

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Thoughts on Proposed Corporate Tax Reform

Thoughts on Proposed Corporate Tax Reform Stephen G. Cecchetti and Kermit L. Schoenholtz Money & Banking, January 09, 2017       “We teach our students that […] the benefits of a simpler, more easily administered tax system that treats different forms of income more equally may well rise as our need for revenue rises.…

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Raise the IRA/401k Ceiling!

Of the many proposed legislative changes that might occur during the presidency of Donald Trump, the one with the highest probability of actually becoming law is a reduction in corporate tax rates. While we are considering making changes to the tax laws, I have a modest, related proposal that won’t cost very much and has…

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The Trump Portfolios

The PeOTUS Portfolios   I have been thinking about the impact of PeOTUS on various companies. It seems like we can divide the world into 2 very different groups of publicly traded firms. The first are those companies that Trump is friendly with — he says nice things about them, cuts a deal with management, hires their CEOs…

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Top 0.1% Holds Same Amount of Wealth as Bottom 90%

Source: Deutsche Bank Research   We all know income inequality is pretty wide in the USA, but the wealth ownership data via DB is quite astonishing. Note the change post WW2, and the subsequent reversion.   From Torsten Slok: US wealth ownership has changed significantly over the past several decades and the top 0.1% of…

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