So, the stock market staging an impressive rally today – up almost 400 points and they're heading for a weekly gain. After plunging 20% at one point last year, the Dow has managed a 3.5% gain so far this year.
Trump's corporate tax cut, which dropped the marginal rate from 35% to 21%, is actually permanent. Unless, of course, the Democrats overturn it through new legislation. Hat tip to Wall Street Journal's James Freeman for flagging this pro-growth supply-side story and another hat tip to my great friend and Trump administration colleague Tyler Goodspeed for picking up new revisions to the economic estimates of the Trump years.
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