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~ Moore: The Corporate Tax Cut Is Paying for Itself – Even if we assume a reversion to the pre-Trump 1.9% growth path, the ratchet up in GDP this year translates into $179 billion in unexpected output this year, $465 billion next year, $654 billion in 2020, and so on. This magic of compounding yields more than $6 trillion additional GDP over the decade thanks to the faster growth already achieved. The federal government is expected to capture a bit more than 18% of that extra output in tax revenue—about $1.1 trillion over the 10-year window. That’s well above the $400 billion to $500 billion expected revenue loss from the corporate tax-rate cut.
~ Conservatives left frustrated as Congress passes big spending bills –In an election year, however, lawmakers are often more excited about passing appropriations bills that often have spending that can be touted back home. And Republicans are facing a difficult midterm as they defend dozens of vulnerable members.
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