Economic data points are commonly cited in quarterly stock report by a publicly traded company in manufactured housing.
The economic news has been strong.
“Lt. Gov. Tim Griffin (R-AR) writes in the Arkansas Democrat-Gazette that “we haven’t seen this sort of bold tax reform since President Reagan’s tax overhaul in 1986.” Lt. Gov. Griffin notes that “it is becoming increasingly clear the law is an overwhelming success. Nearly every day, another American company announces it will give bonuses to workers, increase wages, or improve employee benefit packages,” as the White House press room advised the Daily Business News this evening.
The “retail chain CVS Health plans to boost benefits and increase starting wages for employees to $11 an hour, a change it credited to the Republican-backed tax law President Trump signed late last year.” Kimberly Leonard writes that “overall, the company is seeing a $1.2 billion gain in tax savings from the law,” per the Washington Examiner.
“The Congressional Budget Office says that federal revenues in January added up to $362 billion. That’s an increase of $18 billion— or 5.2% — from the year before,” the Investor’s Business Daily Editorial Board writes. “Individual income and payroll taxes, it says, rose by $68 billion…Those gains in wages and salaries are likely to continue, if not accelerate, under the tax cuts.”
That’s just some of the good economic news. Unemployment claims have dropped to nearly a 45 year low. Millions are coming off food stamps. Bonuses are going out to millions of workers. Hundreds of billions of dollars are being repatriated, etc.
So, against all that good news and more, why the sour grapes in the markets?
The IBD video below is an amazing summary of key facts, in under 2 minutes. Don’t miss it.
So, against all that good news and more, why the sour grapes in the markets?
There are many reasons cited by experts. But the take from this expert talking to E-Mac on Fox Business is worth noting. If a number of investors are stressing over concerns if the regulatory reforms and tax cuts are going to be lost if Democrats retake Congress, take heart. While talk of memos, dossiers and witch hunts are cause for concern, the matter still rests in the hands of “We, the People.”
Americans have about 9 months to sort this all out.
As pay checks rise, and businesses continue to grow, it could prove harder for anti-Trump forces in both parties to convince voters that the president is working against them. “We Provide, You Decide.” © ## (News, analysis, and commentary.)
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