Among many canards Gov Walz peddled last night was the lie that Trump tax rate cuts just benefited the rich. In fact, 65% of taxpayers got a Trump tax cut. The top 1% went from paying 40% of all income tax to 45%. Income disparities shrank. And tax revenue grew 48% over 5 years.
~ David Asman
Federal Reserve Chair Jerome Powell said the time has come to cut rates. Curiously, it’s right before the election. The Feds will cut rates on September 18th. They only seem to do these little niceties when it helps Democrats.
Early voting starts in three weeks.
The Feds say they have turned the corner on inflation. Is that it? And when do they start printing money again?
Inflation is still increasing, and you are still paying more each month. The original inflation up to 9% hasn’t gone anywhere, and the reduced inflation is being added to it.
The government needs to stop spending and expanding the welfare state.
The media is reporting this, but the inflated 818,000 jobs over the past year, not so much.
With the next question being, when does the Fed pivot on its balance sheet, replacing quantitative tightening with another round of quantitative easing to finance the deficit spending coming via increasing the assets it holds? pic.twitter.com/DFgNXcWJcG
โ David Sommers (@dgsommersmkts) August 23, 2024
Then there’s this from E.J. Antoni:
“Politicians are back to their hackneyed talking points about โcorporations paying their fair shareโ and raising the corporate income tax. The irony is that no corporation really pays this tax โ it secretly falls on employees, customers, and shareholders…”
The full Powell speech at Jackson Hole. He wants to keep unemployment from rising.
Here is Jerome Powell’s full speech today at Jackson Hole where he became “dovish” and said the “time has come” to cut interest rates. pic.twitter.com/tyEuNSy0tV
โ unusual_whales (@unusual_whales) August 23, 2024
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