Yesterday we suggested that the Mnuchin & Cohn tax plan is not nearly the Reaganesque growth and jobs stimulant it is cracked up to be. On the personal income tax side, it cuts marginal rates by a trivial 1.1%, and not at all at the top of the scale owing to the hasty reintroduction of the 39.6% fourth bracket.
Crazy Time in the Casino
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.