This article is just what the Trump administration wanted to hear. I’d have to think that the Trump administration started smiling when they read “Consumers were even more optimistic in October than economists polled by Reuters expected. Consumer confidence rose to 125.9 in October, according to the Conference Board. The index ‘increased to its highest level in almost 17 years,’ Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement. That was in December 2000, when the index hit 128.6.” Franco added the “high level of confidence suggests the economy will continue to expand ‘at a solid pace’ for the rest of 2017.”
This article is sure to add to the Trump administration’s positive attitude. According to the article, “President Donald Trump’s Council of Economic Advisers on Friday released the second in a series of reports on how proposed changes to the tax code could influence economic growth. The CEA predicted that corporate tax cuts alone would produce GDP growth of between 3 and 5 percent in as little as three years. The cuts are part of the tax reform package currently being finalized in Congress and expected to be unveiled as a bill next week.”
Here in Minnesota, though, Gov. Dayton sounded like Mr. Pessimism:
“One of the most offensive proposals would eliminate the deductibility of Minnesota’s state income and sales taxes and local property taxes from our citizens’ federal tax liabilities,” Dayton said. “It would completely remove these important tax deductions which total over $12.3 billion per year for 900,000 Minnesota families.”
The good news is that a Republican governor, working with Republican majorities in the House and Senate, will fix Minnesota’s anti-growth tax and regulatory system. Why the DFL hasn’t figured out that people really want to keep the money they’ve earned is baffling. The good news is that the next Republican governor will get things straightened out.
Rick Santelli is back and he’s excited: