Don’t Spend that $4K Tax Raise Just Yet…

The Senate’s passage (51-49) of the budget blueprint last week paves the way for Republicans plan to tinker with the tax code with just GOP votes, which means that tax negotiations have entered a new phase. Last week, the President’s Council of Economic Advisers argued thatPresident Trump's tax plan, which aims to reduce the top corporate tax rate from 35 percent to 20 percent, would boost the average American family’s income by $4,000 under . Critics, including former treasury secretary Lawrence Summers, questioned the $4K promise.

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Lessons of the 1987 Stock Market Crash

Is Dow 23,000 a reason to celebrate or a warning signal of a stock market correction, or even worse, a crash? Perhaps it's a little bit of both. The International Monetary Fund recently upgraded its global growth projections, but also issued a caveat, noting that the economic bounce back was breeding “complacency,” that was “spawning financial excesses...While the waters seem calm, vulnerabilities are building under the surface [and] if left unattended, these could derail the global recovery.” Amazingly, these words could have been the exact same warning from ten or thirty years ago.

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