Economic news of the day...

HoustonHusky

559K Jobs added (another miss...expectation was 675k with a whisper number of 1000k).
Unemployment down to 5.8%...mainly because a bunch of folks left the workforce (isn't it supposed to be the opposite in a recovery?), with labor force participation down 0.2% to 61.6%
And...US Factory orders declined as inflation ramps up.

Mr Carter...can you hear me????

https://www.zerohedge.com/markets/may-payrolls-miss-559k-jobs-added-below-expectations-unemployment-rate-drops
https://www.zerohedge.com/economics/stagflation-signals-soaring-factory-orders-tumbled-april

CFetters_Nacho_Lover

This appears to be no different than Obama’s summer of recovery which I believe was also led by joe Biden

MikeDamone

You can’t just wave a magic wand or flip a switch.

RaceBannon

Not microwave popcorn

BleachedAnusDawg

Tax cuts? With the Dems in power?

TheRoarOfTheCrowd

Well fortunately, the rise to 28% for corporate taxes [the economic genius Bernie Sanders wanted 35%] has apparently been tabled in favor of the larger issue of trying to institute a 15% minimum corporate tax as well as the other truly big fish item of institution of a much higher minimum tax rate globally for all US companies that have foreign subsidiaries + gaining the further commitment of a minimum major and emerging market global tax rate which is higher than what is on the books in a lot of countries around the world.

Yet to come is the nefarious discussion of tax hikes for individuals and the infamous I hate the rich capital gains bionic plague proposals, the end of stepped up cost basis at death, and the proposed lowering of the threshold for estate taxes all of which are a cash grab intended to cash in on the boomers wealth sitting in real estate and retirement plans. Stay tuned ~ this could get ugly as lawmakers do there best to try to extract capital to fund the fabled and gloriously egalitarian notions of government.

dirtysouwfdawg

So I don’t know shit here but with the covid don’t work and get paid money going away in many (most?) states, wouldn’t you think the jobs added will go up and the unemployment will go down???

Kaepsknee

DawgsCanDance said:

Well fortunately, the rise to 28% for corporate taxes [the economic genius Bernie Sanders wanted 35%] has apparently been tabled in favor of the larger issue of trying to institute a 15% minimum corporate tax as well as the other truly big fish item of institution of a much higher minimum tax rate globally for all US companies that have foreign subsidiaries + gaining the further commitment of a minimum major and emerging market global tax rate which is higher than what is on the books in a lot of countries around the world.

Yet to come is the nefarious discussion of tax hikes for individuals and the infamous I hate the rich capital gains bionic plague proposals, the end of stepped up cost basis at death, and the proposed lowering of the threshold for estate taxes all of which are a cash grab intended to cash in on the boomers wealth sitting in real estate and retirement plans. Stay tuned ~ this could get ugly as lawmakers do there best to try to extract capital to fund the fabled and gloriously egalitarian notions of government.

No doubt the lower threshold of estate taxes will be the sacrificial lamb that results in a minimal bump for corporations.

It’s all in the shart.

Blu82

Raising corporate taxes and/or death taxes = money being moved off shore, again.
The dumb fucks will never learn.

PurpleThrobber

Blu82 said:

Raising corporate taxes and/or death taxes = money being moved off shore, again.
The dumb fucks will never learn.

The Commonwealth of The Bahamas (Hi @oregonblitzkrieg ) and the Republic of Ireland thank you for your service.