‘Like it or Not,’ President Trump Tax Cuts to Boost Economic Growth

‘Like it or Not,’ President Trump Tax Cuts to Boost Economic Growth

‘Like it or Not,’ President Trump’s Tax Cuts to Boost Economic Growth

$DIA, $SPY, $QQQ, $VXX

Ken Langone, the founder of Home Depot (NYSE:HD) says whether or not you are a supporter of President Donald Trump, his landmark tax-cut strategy will ultimately truly help “Make America Great Again” on every financial and economic level.

“It’s going to help growth like it or not, it’s going to help growth,” he said when confronted with the argument by NY-T’s columnist Paul Krugman that The Trump Tax cut is “mainly a giveaway” to corporations.

“The numbers we have so far show that the much-hyped bonuses are trivial, less than $6 Billion, or 0.03% of GDP, while stock buybacks have been more than $170-B. And many of those bonuses would probably have happened anyway, whereas stock buybacks are running far above historical levels,” Mr. Krugman recently wrote for the paper.

Mr. Langone disputed Krugman’s allegations, saying that Home Depot for the last decade has bought back billions of its stock each year.

Earlier this year, the world’s largest home-improvement chain will pay hourly workers a 1-time cash bonus of as much as $1,000 in the latest Quarter.

The move follows President Trump’s legislation last year that lowered the corporate taxes by 14 percentage points to 21 from 35%.

Mr. Langone is not alone in touting the economic benefits of the tax cuts.

Former Federal Reserve Chairman Alan Greenspan claims President Trump’s corporate tax cut is driving the stock market and a host of economic benefits, and that “we’re underestimating the impact of that.”

Wednesday, the major US stock market indexes finished at: DJIA -380.83 at 25029.20, NAS Comp -57.35 at 7273.00, S&P 500 -30.45 at 2713.83

Volume: Trade on the NYSE came in at: 1.1-B/shares exchanged

  • NAS Comp +5.4% YTD
  • S&P 500: +1.5% YTD
  • DJIA +1.3% YTD
  • Russell 2000: -1.5% YTD

HeffX-LTN’s Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
28 February 2018 QQQ 168.17 Bullish (0.30) 164.86 168.62
28 February 2018 DIA 254.12 Bullish (0.25) 252.72 255.37
28 February 2018 SPY 273.4 Neutral (0.23) 272.15 274.09

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

2 Responses to "‘Like it or Not,’ President Trump Tax Cuts to Boost Economic Growth"

  1. Alex Kelly   March 1, 2018 at 12:06 am

    The tax cuts are going to add $2.3 trillion to the already massive debt and make big businesses much richer. Warren Buffet has already made $29 billion off the cuts and how is this helping the middle class in any way? All this cutting and debt yet someone will have to foot the bill. Guess who that will be. The shrinking and squeezed middle class while the rich pay the least amount of taxes as possible and this is supposed to boost economic growth? Give me a break. We’re heading right back down the path Bush took us on but some people wear rose colored glasses.

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