Another Democratic ‘Tax & Spend’ Administration = Recession
$DIA, $SPY, $QQQ, $VXX
Hillary Clinton got hammered from all directions Monday.
Mrs. Clinton is trying come up with a new and inspiring idea to jump-start a anemic US economy and help the financially stressed middle class.
The progressive/left really does not know how to and will not ever do that. It is against their core belief, no matter what the rhetoric on the stump.
They have nothing to offer except: tax; spend; spin, and do it all over again, and again and again.
So in her recent speech on the economy, she proposed last week’s leftover mashed prototypes,
The nation recalls how they tasted under US President Barack Hussein Obama when he 1st served them to the Hopefuls.
Mrs. Clinton touted her proposed jobs program, that she said she will launch “in her 1st 100 days.” She assumes she will win the White House.
Recall that Boss Obama has had nearly 3,000 days to come up with a jobs program, what not jobs, no pay raises and no growth.
Yet, Hillary Clinton complains that Barack Hussein Obama does not “get the credit he deserves” for the condition of the US economy.
Now these have been good times for Hill & Bill they went from being “broke” to leverage their positions and political connections to give 6 figure speeches to Wall Street’s big bankers.
The Big Q: What is the Clinton Agenda?
She touts bold ideas such as raising the minimum wage, making rich people pay more taxes and $250-B more government spending on public works projects to “featherbed” her union supporters.
We have had 3 minimum wage increases this past decade and countless state and municipalities have gone to as high as $10, $12 or even $15/hour.
This is nothing new.
Mr. Obama has raised income taxes, estate taxes, dividend taxes, capital gains taxes, Medicare taxes, drug and vaccine taxes all aimed at the rich.
And, what do you know, income inequality has gotten progressively worse under Mr. Obama.
You have heard about Hillary’s pitch about free college tuition for the middle class (it will never happen) but if by some chance it did, it means students would pay for college through their taxes, not tuition payments.
That would drive up college costs, just as the student loans have triggered dollar-for-dollar tuition hikes at major universities.
President Donald Trump will likely declare no more federal aid to any college that has more than a $500-M endowment. The universities have become storehouses of wealth, and it is time they use that money to make schooling more affordable.
On Barack Obamacare aka ACA (Affordable Care Act)
Mrs. Clinton promises to “double-down.” Double down on what, Barack Obamacare is an abject failure now.
Costs and premiums are rising in many states by double digits. The healthcare exchanges are going bankrupt. Businesses are restricting hiring and hours worked to get around the law, and insurance companies are dropping out.
The Kaiser Family Foundation reports that premiums are rising by as much as 24% across the country. This is 3X the expected 8% rise.
Further, Mrs. Clinton wants to raise the tax on pass-through small and medium businesses to 45%, as well as raising the capital gains tax.
These are direct taxes on American employers and the risk-takers who invest in them. And if people are really successful in business and they dare get rich, a Hillary Clinton led government will take nearly 50% of their lifetimes’ savings in taxes when they die.
One analyst I read today says, “What kind of upside-down economic theory tells you that the way to get more jobs is to place higher taxes on the businesses that create the jobs? I have invented a term for this: economic Bimbo-ism.”
Donald Trump needs to make this point over and over and over again. Reduce business taxes to 15%. Hillary wants to tax businesses at 47%.
Now, which plan will bring more jobs back to America?
The Tax Foundation says that the Clinton tax and economic plan will actually reduce jobs by 300,000 and subtract from our already weakling economic growth rate.
It that ever come to be the case Hillary Clinton’s economic policies would have the US in Recession, heading to Depression.
Monday, the US major stock market indexes finished at: DJIA -23.15 at 18529.42, NAS Comp +6.22 at 5244.60, S&P 500 -1.23 at 2182.64
Volume: Trade was lighter than the last 3 weeks of light trade with 684.2-M/shares exchanged on the NYSE.
- Russell 2000 +9.1% YTD
- S&P 500 +6.8% YTD
- DJIA +6.3% YTD
- NAS Comp +4.7% YTD
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