Posted on 11/09/2017 12:56:15 PM PST by SeekAndFind
U.S. equities fell sharply on Thursday, pulling back from record highs, on worries that tax reform could be delayed until 2019.
A proposed plan by Senate Republicans would push tax reform back to 2019, CNBC has learned through a source. The move contrasts with a bill working its way through the House. The Washington Post first reported the news.
"That's what gave us this new leg down," said Art Cashin, director of floor operations at UBS, on CNBC's "Squawk Alley."
Expectations for tax reform have increased recently, helping lift the stock market to all-time highs. The major indexes had recovered some losses from earlier in the session prior to the Senate news breaking.
At 2:11 p.m. in New York, the Dow Jones industrial average traded 129 points lower, with McDonald's as the biggest decliner; it fell 1.8 percent. The Dow briefly fell more than 250 points.
The S&P 500 pulled back 0.55 percent, with industrials as the leading decliner; the sector fell 1.3 percent.
The Nasdaq composite lagged, falling 0.8 percent.
(Excerpt) Read more at cnbc.com ...
We handed them the keys to the castle.. and they spit on us.
There is a way. They're called elections.
The delay in the corporate tax reduction until 2019 will lock companies in place and they will delay capital expenditures until 2019. That will depress economic growth in the 2018 election year, almost like it was planned that way.
Problem is the time is running out and all the RINOs aren’t up for election at the same time.
Well good luck with that. He will have been in office for four years as a Republican with at least two years of a Republican controlled Congress. He needs to cut some sort of deal with Congress and get tax cuts passed.
I knew this the moment Trump was elected. Congress only has to freeze him out for 2 years and then run against him. We had no choice but to vote for Donald Trump, but the gamble continues until we can hopefully take out more trash in 2018.
Well, Congress will never pass a constitutional amendment to allow the direct recall of Congress critters, so what can we do, except vote them out when they cme up for re-election?
There are, of course, other options, but who among us is willing to step forward and actually say it?
These RINO’s disgust me!
How could any of us ever vote GOPe again? Plenty of times we “held our nose” and voted for the McCains, the Romneys, etc. etc. And now we find ourselves right here. I know this has been stated here and elsewhere, but we need a party that represents the ideals that the POTUS has brought to inspire this movement. If we should fail to drain the swamp, then this party will be needed to sabotage every election from here on out to keep these bastards from ever achieving political victory again. Democrats are democrats, we know who they are and what they do. The garbage currently occupying the GOPe are traitors, plain and simple... to their party, to our ideals, to their country. Thy deserve to be named, shamed, and rendered irrelevant.
I agree. 120 points is nothing.
In an ideal America we would be in the DC armed and willing to defend our sovereignty in an old fashioned way.
There would either be mass resignation or slaughter. The people who do not die win. It is thinkable but the end result unpredictable. We may as well make it speakable. When elections do not work this was expected by the forefathers. it's unspeakable and people will tell me so. Therefore, I think we are doomed.
“There is a way. They’re called elections”
Yes, hopefully.
And then we will lose Trump
To be honest, the GOP has angered me. They have EVERYTHING they have been asking for, yet have done nothing.
Full disclosure, I am against the tax hike.
frigging senate again. They need replacing since most of them are nothing but Dems
The establishment would rather lose to Dems than see Trump, and conservatives successful.
McConnell has got to go.
Gee, my heart bleeds.
When they rip off the middle class so the corporations can get their massive tax cut (and their deductions for property, local, and state taxes that the rest of us are going to lose), then I am sure the inflated stock market will soar again.
No, THEY are going to lose the House and Senate.
WE are going to primary all their butts out of there.
They will indeed.
But they don't care, because they've already got their lifetime pensions (that we pay for)... their perks and bennies (that we pay for), and they'll walk away very wealthy (which we'll be paying for).
Why should they give a f***? They got theirs, and we're the dumb f***s for electing them and actually believing they'd do what they said they'd do.
They're spitting AND laughing in our faces.
Well, one year later and what have the Repubs done?
.1. Confirmed less than 1/2 of Trumps appointees.
.2. Border fence? No.
.3. Immigration? No.
.4. repeal ObamaCr*pCare? No.
.5. cut taxes for everyone? No.
Anything?
Nope?
And we are supposed to vote for the GOPe?
The same group who are unable to get unity on any vote or do something about McCain and a few other GOPe RINO’s who sabotage every campaign promise that President Trump got elected on (and that the coat tail Repubs did also)?
>And we are supposed to vote for the GOPe?
The same group who are unable to get unity on any vote or do something about McCain and a few other GOPe RINO’s who sabotage every campaign promise that President Trump got elected on (and that the coat tail Repubs did also)?
See my tagline.
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