Author Archives: Gary D. Halbert

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…

The President Can Put Congress On Obamacare – So Do It!

This post should strike a chord with everyone, regardless of your political persuasion. Were you angered last month when the GOP-controlled Senate failed to repeal Obamacare? I know I certainly was. Republicans have promised for seven years to “repeal and replace” Obamacare – if only voters would give them majority control of Congress and the…

Debt Ceiling Battle Will Be Extra-Dangerous This Year

As you’ve probably heard, we have another debt ceiling battle coming in September and probably early October. This is nothing new – or is it? I will argue below that this year’s debt ceiling battle has the potential to be the most dangerous in decades. For the past six months, Treasury Secretary Steven Mnuchin has…