President Trump’s Tax Cuts Will Lead to ‘Higher Standard of Living’
$DIA, $SPY, $QQQ, $VXX
Thursday, Steve Forbes predicted that the GOP tax-reform legislation will spark investment that ultimately lead to “a higher standard of living” for all Americans.
“We’ve had, as you know, sub-par investment for a decade,” the Chairman and Editor-in-Chief of Forbes Media said.
“And so, in order to get a higher standard of living, we need more investment. And that leads to enabling people to keep more of what they earn via higher earnings, higher salaries, higher pay in the future and you have to have investment,” said Mr. Forbes,
“So they are laying the foundation for good, long-term growth in the business side,” Forbes told the interviewer.
Mr. Forbes suggested that one of the things Republican lawmakers should stress to the general public is that “this tax bill is a down payment of more tax cuts to come.”
If President Donald Trump would make such a proclamation, it would rile investors for all the right reasons and “get the animal spirits really going,” said Mr. Forbes, a Republican candidate in the Y’s 1996 and 2000 Presidential primaries.
“We’re going to have more of this good stuff, we’re going to do more for individuals and that way not only will we have good things here but overseas capital will be coming in.”
Overall, Mr. Forbes said American businesses should relish the difference between The Trump Administration and the Barack Hussein Obama White House.
“With President Obama, if he gave you something, you know he’d take it away at the 1st opportunity. Each day, that administration was getting up and trying to figure out how to make life miserable for business people,” Mr. Forbes explained.
“This is a different environment. A different psychology. And for smaller businesses, being able to write off the truck, the software and the light. That makes a difference. Big companies not so much but for smaller companies which have had a really tough time in the last decade this is really mana from heaven,” he said.
Thursday the major US stock market indexes finished at: DJIA +55.64 at 24782.29, NAS Comp +4.40 at 6965.36, S&P 500 +5.32 at 2684.57
Volume: Trade on the NYSE came in at: 780-M/shares exchanged
- NAS Comp +29.3% YTD
- DJIA +25.1% YTD
- S&P 500 +19.7% YTD
- Russell 2000 +13.5% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.66)||Very Bullish (0.56)||Very Bullish (0.83)||Very Bullish (0.58)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.61)||Very Bullish (0.67)||Very Bullish (0.58)||Very Bullish (0.58)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.50)||Bullish (0.33)||Very Bullish (0.52)||Very Bullish (0.64)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.45)||Bearish (-0.49)||Very Bearish (-0.57)||Bearish (-0.29)|
Have a Happy Christmas Holiday.