Author Archives: Gary D. Halbert

Odds For Meaningful Tax Cuts Have Improved Significantly

In the last two months, the odds of Congress passing meaningful tax cuts this year basically plunged to near zero but have rebounded strongly in the last few weeks. As of today, the odds of significant tax cuts before yearend look pretty good, but it’s still complicated. Let’s revisit what’s happened over the last two…

Critical Labor Shortage To Delay Hurricane Rebuilding

There was already a shortage of construction workers, especially in the South, before the hurricanes slammed Texas, Louisiana and Florida. No doubt demand for construction workers in these areas will skyrocket in the weeks and months just ahead. More on this below. Across all industries, unfilled job openings hit another new record high in July,…

High Corporate Income Tax = Less Pay For Workers

I have argued recently that one of the first things Congress should do is lower the corporate income tax from 35% to 15% (or at least 20%) – even if broad-based tax reform has to wait until next year. I have also argued for an immediate one-time corporate tax rate, say 10%, on profits held…

2Q GDP Hits 3%, Yet 78% Still Live Paycheck to Paycheck

The Commerce Department reported yesterday that 2Q GDP rose at an annual rate of 3.0%, the best showing in more than two years and up from the initial estimate of 2.6%. The report was stronger than expected and was spurred by a bounce in consumer spending and business investment. While yesterday’s report was a welcome…

Fed Confirms Balance Sheet Reduction Just Ahead

In my August 8 Forecasts & Trends E-Letter, I suggested that the Fed Open Market Committee (FOMC) may vote to begin the process of reducing the size of its massive $4.5 trillion balance sheet at its next policy meeting on September 19-20 – in lieu of hiking the Fed Funds rate a third time this…