From Reuters here:
“For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly,” said Robert Willens, an independent tax consultant. “Obviously, they are quite enthusiastic and there may be a few fist bumps along the way.”
A manager whose hedge fund earns $50 million a year, for example, would be paying some $19.8 million in taxes, or 39.6 percent, under the current rules. That could drop to as little as $7.5 million if the rate were cut to 15 percent.
That is going to make America great again for sure!
Feed the hedge funders and we will all do just great because they’re such benevolent and giving people.
Oh, I think I tasted a little bit of vomit after that sentiment.
From CBS News here:
The president is now doubling down on an AHCA revival, which is needed to cut Medicaid by nearly $1 trillion, those budget savings deemed necessary to fund comprehensive tax reform.
It’s not tax reform, these are tax cuts for people who already have really low taxes.
Headline from CNBC:
Ex-Fed Chairman Greenspan: Get rid of Dodd-Frank and watch economy and stocks soar
The idea that letting Wall Street be unshackled and they will shit a golden future for America is ridiculous.
Wall Street is only interested in shitting a golden future for themselves. This is the part that is so frustrating to see. It’s implied that if Wall Street does well then America does well and the reality is so different.
Some 83 percent of fund managers believe U.S. stocks are overvalued, according to the Bank of America Merrill Lynch monthly fund manager survey.
Normal Americans are raised to think that the stock market and its inner workings are above their IQ and should be left to the professionals.
But what happens when the professionals are con men? Where were the 83% of money managers when stocks were orgasmically buying stock after President Pumpkinhead was elected?
This is the question we face as a society? What happens when the people at the top are unethical con men?
From Zero hedge here:
The United States was falling behind on education. That meant people who were losing their jobs weren’t being retrained to the jobs that were available. Also, the US doesn’t have a strong safety net. So when people lose their job they can fall quite far. That’s why America is much more focused on strong growth than other countries. Since the safety net is so weak it needs strong growth in order to avoid public anger.
Recent history also shows when you push for extremely strong economic growth you also end up with fraud and abuse which is inflicted on everybody not in the ruling class but minorities especially.
In a post industrial society you can get your goods and services from two places: from the government or from companies.
Look at healthcare — you have a half baked healthcare system (Obamacare) that was always afraid of having government pick up the tab (outside of the successful Medicaid expansion) so it has floundered. Or you have the corporate insurance market where you’re at the mercy (or not) of insurance companies.
If we didn’t have such a shitty government we wouldn’t have to endure such a shitty, predatory economic environment.
From CNBC here:
Leon Cooperman, chairman and CEO of Omega Advisors, expects the market to be flat through the summer due to uncertainty over President Donald Trump’s economic agenda.
“It is time for the U.S. equity market to rest,” Cooperman wrote in the April 7 letter to clients.
If these assholes had any conscience whatsoever I would ask how they sleep at night, but they don’t have any conscience.
To use the phrase that lingers in the air following the Trump victory, this stock market rally is real and the profits booked are real but it’s all based on ‘fake news’!!!!
This is supposed to be the great economic wisdom of America and it’s really a giant Magic Bullshit Machine that makes money out of fake news and promises from a half demented orange haired rapist/retard.
This is not an exaggeration — if we had a stock market based on reality it would rally as the righteous Trump agenda gets rolled out and people readjust stock prices to reflect changes in the the economic conditions in our society.
But as we can now plainly see Donald Trump’s Presidency is a giant, orange turd floating in a toilet bowl — there is an agenda but it has no momentum and it has a confused bully at the helm who was once described as ‘the business President’.
This is a half assed, bullshit stock market run by fantasy addicted fucknuts.