President Trump Planning a “Very Big” Tax Cut for Middle Class

President Trump Planning a “Very Big” Tax Cut for Middle Class

$DIA, $SPY, $QQQ, $RUTX, $VXX

Donald Trump speaks during the Global Chief Executive Officers dinner at the World Economic Forum in Davos, Switzerland

A “very big” tax cut for middle-class Americans will be announced over the next 90 days, President Donald Trump said in an interview Wednesday. 

“We will make that permanent for the middle class,” President Trump told Fox Business’ Maria Bartiromo in an interview from the World Economic Forum in Davis, Switzerland, where he also added that further initiatives are coming on healthcare. 

“We’ve done well with health care. We got rid of the individual mandate. That was a thing people couldn’t do, they couldn’t afford it, they didn’t want it,” said President Trump. “They were forced to pay a number and not get healthcare. We are coming up with a plan that is going to be fantastic.”

Last week, President Trump’s top economic aide Larry Kudlow said he is been working on a “Tax Cuts 2.0” plan to be released later this summer, in time to be a campaign issue ahead of the Y 2020 election. 

Wednesday, the major US stock market indexes finished at: DJIA -9.77 at 29186.18, NAS Comp +12.96 at 9383.79, S&P 500 +0.96 at 3321.75

Volume: Trade on the NYSE came in at 864-M/shares exchanged

  • NAS Comp +4.6% YTD
  • S&P 500 +2.8% YTD
  • DJIA +2.3% YTD
  • Russell 2000 +1.0% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish to Very Bullish in here.

Looking ahead, investors will receive the weekly Initial and Continuing Claims report and the Conference Board’s Leading Economic Index for December Thursday.

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.

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