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LAFFER CURVE STRIKES AGAIN: TAX RECEIPTS UP AS RATES GO DOWN

PERSONAL TAX RECEIPTS 12% HIGHER IN APRIL Today's April Treasury report showed that April tax receipts not only set an all-time record, but were fully 12% higher than last April's receipts. People and corporations had been postponing income and accelerating deductions...

U.S. WORKERS STILL LAG IN RETIREMENT SAVINGS

The executives noted that retirements are getting longer. Three-quarters of people who turn 65 will be alive at the age of 90 and nearly half will be alive at 95, said Tim Seifert, vice president and head of annuity sales at Lincoln Financial Group.“Only one-third of...

BIGGEST DROP IN SMALL BUSINESS WORRY ON TAXES 

In the case of Taxes, the percentage of businesses citing that issue as their biggest problem has plummetted ever since the Tax Reform bill was signed into law.  According to the NFIB, it hasn’t been cited by this few a percentage of businesses since 1982! Source:...

FANGs: Growth Investments Expensed on the Income Statement

The media is obsessed with supposedly bubble-like valuations of the FANG stocks—Facebook, Amazon, Netflix and Google (Alphabet). The FANG companies account for over 7% of the S&P 500 and sell at a weighted average P/E of 39 times consensus 2017 earnings. In our...

MAIN STREET IS KICKING WALL STREET’S ASS

“Main Street is roaring,” said NFIB President and CEO Juanita Duggan. “Small business owners are not only reporting better profits, but they’re also ready to grow and expand. The record level of enthusiasm for expansion follows a year of record-breaking optimism among...

STOCK MELT UP COMING FROM BOND SELLING

Higher treasury yields = selling of treasuries.  Selling of treasuries = proceeds that typically get reinvested in equities.  Reallocation of funds from the bond market to the stock market = exactly what we've been witnessing for the past several months, a...

POSITIVE EARNINGS ESTIMATE REVISIONS HIT TEN YEAR HIGH

Chart of the Day:We’ve been noting recently that bullish sentiment from the American Association of Individual Investors (AAII) has finally exceeded 50% after nearly three years below that level.  In today’s Chart of the Day, we wanted to highlight another sentiment...

THE No. 1 FINANCIAL FEAR AMONG RICH PEOPLE

Even the richest Americans are worried about having enough for retirement.51% of affluent investors — defined as those who have total investable assets of $500,000 or more — say they are concerned about being financially secure in retirement.That’s according to a...

MOST HEDGE FUNDS DON’T CARE ABOUT CARRIED INTEREST LOOPHOLE

Private Equity and Real Estate Funds Benefit - Not Most Hedge Funds There is not a "carried interest loophole" for hedge fund managers! Hedge fund managers pay the same tax rates on long-term capital gains as everybody else - 23.8%. Most people consider it a loophole...