2019-10-27 09:05:08

Image:  Taxes revenue by source.

Blue – income tax

Green – corporate tax

Yellew – payroll tax

Red- excise tax

Plum – other tax

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Gene Marks, of Small Business America and having columns in The Guardian and TheHill, looks at the Philly Fed, which gives a positive picture; and the Richmond Fed, a very positive picture. Every couple of months, a report that looks at certain factors in all the states: four state-level indicators – unemployment rate, hours of production workers, non-farm employment; all together called a co-incident index.  Almost all states have reported positive activity.  All metrics across the board are sufficiently favorable to suggest no plummeting economy. No growth, but [comfortably] stable.  American Institute of Architects.  Democratic candidates wishing to tax the rich.  Warren wants to tax people’s assets (is that Constitutional?), while Sanders wants to tax salaries.   Corporations are composed of people who spend their salaries in local businesses.   The Economists writes an editorial on Warren’s plants: half the stock market and ___ firms would break up. She sees government as benign and effective; she sees business as [dangerous].  Were she to win, she’d have battles on her hands.   . . .  When the government becomes the lender of last resort, it becomes the only lender. Seventy per cent of small businesses need some sort of financing.

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