Category Archives: Fiscal Policy

Did He Really Say That?

Geeezo Christopher Columbus!   What a bitch slap directly to the face of “the deplorables.” The tax reform bill is rapidly setting up the potential for some major political blowback.  Vive les élites! I think not having the estate tax … Continue reading

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Corporate Tax Rates and Tax Receipts

Here are some interesting data on the U.S. corporate tax rate throughout the last hundred years and a chart of federal tax receipts on corporate income as a percent of GDP.  We gathered the data from the Tax Policy Center … Continue reading

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No Worries: Vol Not Priced For Budget Ceiling

Do the markets price risk anymore?   That it is always inevitable when the world is awash with central bank based liquidity is not a surprise. We do see the VIX creeping back over 10 after trading with 8 handle for … Continue reading

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COTD: Where Your Tax Dollars Go

 More than half of every dollar went to health care, military last year – MarketWatch .

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Is the U.S. Government Bankrupt? Not Even Close.

We often hear the meme “the U.S. is the next Greece.”   “The government is insolvent.”  Complete nonsense. We tend to focus too much on the right side of the government’s balance sheet and not the left side — the … Continue reading

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Table of the Day: Federal Tax Revenues

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How to Become a Trillionaire and Other Thoughts

Grab one of these: Careful what you wish for central bankers and fiscal policy makers.  Though we don’t see signs of “rollover risk” in any of the G5 or G20, it’s all about confidence and you know what Joe said about … Continue reading

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Mr. “King Dollar” Takes The CEA

Congrats to Larry Kudlow,  a good guy (though a supply side ideologue),  as reports pour in that President-elect Trump will appoint him to head up the Council of Economic Advisors (CEA). He has always advocated a strong dollar, or “King … Continue reading

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Misplaced Policy Thinking – $1 trillion infrastructure build

As the stock market celebrates  and is downright giddy over the prospect of a massive fiscal expansion through a one trillion dollar infrastructure build,  we are less sanguine and propose a different and more long term policy track. The U.S. … Continue reading

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