There were two big money-and-politics stories in the first week of the new year: The Dow Jones industrial average soared 577 points, and former White House chief strategist Steve Bannon ended his political career.
Are these two events related? Perhaps more than you might think.
Bannon's peculiar notions of populism were essentially anti-growth...Read more
With President Trump's signing of the big tax cut bill, the Republican Party snatched victory from the jaws of defeat. Suddenly, the political and economic landscapes have changed. The GOP has turned the tables on the Democrats.
With the passage of this powerful tax-cut legislation to boost business investment, wages and take-home family pay,...Read more
Republicans are supposed to be the party that cuts the job-killing capital gains tax, not raises it. But because of a quirk in the Senate-passed tax bill, the tax on capital gains may go up -- and for some types of long-held assets, fairly substantially.
Most members of Congress don't even know of this stealth capital gains hike. Here's the ...Read more
Warts and all, if I were a voting member of Congress, I would certainly cast a yea for the tax-cut plans passed by the Senate and House that are headed for conference (to work out minor differences) in the weeks ahead.
These bills are not perfect, especially on the individual side. But the business tax cuts will generate an investment boom in...Read more
As the House and Senate work their way through the tax cut and reform effort, let me make one thing clear: Both plans are pro-growth, with the economic power coming from the business side. And where it comes from the personal side, there will be very little growth. That was always been the bet.
During the spring and summer of 2016, economist ...Read more
President Trump is likely to name a new Federal Reserve chair over the next few days. Speculation is focused on current Fed governor Jay Powell and Stanford University economist John Taylor. The list may be larger; it could still include current Chair Janet Yellen or Kevin Warsh. Trump is soliciting opinions and advice from people inside and ...Read more