#HOW IS IT 2021 WHEN MM WAS SET IN 2019 AND THEN THE BEGINNING OF 2020 AND IT'S ONLY BEEN 10 MONTHS

[soulsillk]

Lord, the Insomniac timeline for the Spider-Man games is a fucking mess

[jerseydeanne]

Nothing was ever good enough...Meghan left staff shaking with fear

The Times article.

https://archive.vn/2e8QQ

Tuesday March 02 2021, 10.00pm GMT, The Times    The Duchess of Sussex has always prided herself on being a good boss. When she was in the American TV series

Suits

, she would sometimes buy the crew pizza. At Kensington Palace there was the occasion, recounted in the pages of

People

magazine in February 2019, when she paid for an ice-cream stand for staff. “They were remarking how it was the ‘best day of work ever’,” a friend said.    Some of those who worked for Meghan after she joined the royal family have less fond memories. Staff were bullied, according to sources, and some reduced to tears. One said they were humiliated by her on a number of occasions. According to the complaint revealed by

The Times

today, two PAs were driven from the household. The duchess denies any allegations of bullying.    

My source said it was like walking on eggshells to be around Meghan.  

The first sign that anything might be amiss came when a story appeared in a diary column in a national newspaper saying that Meghan’s personal assistant had left six months after the royal wedding. 

A week later the assistant was named in another paper as Melissa Touabti. “Meghan put a lot of demands on her and it ended up with her in tears,” a source was reported as saying.Touabti was not the first member of staff to leave. 

Before her there was another PA, a young woman already employed by the palace. She did not stay long after Meghan arrived.      

Both PAs signed non-disclosure agreements. There is no suggestion that Meghan tried to prevent them from speaking. Lawyers for the duke and duchess stated that she had no knowledge of the agreements and that they believed staff to be comfortable and happy. 

      That's a lie, MM is crazy about NDAs and made Harry sign one after she dictated the statement over the phone in 2016. Everyone signs one who works for the firm. Harry is well aware of this. 

Record Scratch... Meghan Markle threw a cup of hot tea at an assistant in Aus.

   In late 2017, after Harry and Meghan’s engagement was announced, a senior aide spoke to the couple about the difficulties caused by their treatment of staff. People needed to be treated well and with some understanding, even when they were not performing to their standards, they were told. Meghan is said to have replied: “It’s not my job to coddle people.”     

Meghan is so fake and phony, if those people can't help her get to be an A-lister, they are toast.   

There is no doubt that Meghan could be a demanding boss. There were a number of people, allegedly including Harry himself, who suggested that those early problems were partly to do with cultural differences in management style. As Omid Scobie and Carolyn Durand put it in their book about the couple,

Finding Freedom

: “Americans can be much more direct, and that often doesn’t sit well in the much more refined institution of the monarchy.”    

It's a turn-on to a narc to watch people squirm.

 However,

The Times

has spoken to insiders who have argued that it was about more than just American straight-talking. The duchess could be sharp with those she felt were letting her down, sources claim. One former staff member said: “I had unpleasant experiences with her. I would definitely say humiliated.”       Meghan is sadistic!   After Jason Knauf, the couple’s communications secretary, made his bullying complaint, another member of staff was worried about spending time with her the next day because she feared that Meghan was about to find out. “This is why I feel sick,” they said.    

Another time there was a row about whether Meghan had been told that the media would be present at an event. When she rang the aide, they rang back but she did not pick up. “I feel terrified,” the source said. “I can’t stop shaking.”    Meghan loves to play games.   Another source said: “There were a lot of broken people. Young women were broken by their behaviour.” The source described one member of staff as “completely destroyed”.      Even before the wedding, staff were feeling the strain. One told a colleague the couple were “outrageous bullies” and said they were considering resigning. The colleague replied: “That’s so dreadful. And they are bullies.”      

The  harsh treatment was not confined to junior staff. One source claimed that Samantha Cohen, the couple’s private secretary, had been bullied. Another said: “They treated her terribly. Nothing was ever good enough. It was, ‘She doesn’t understand, she’s failing.’” In fact, the source said, Cohen was “a saint” and the best organiser of royal tours they had known.     Lawyers for the duke and duchess said they remained close to Cohen and grateful for her support and dedication, acknowledging that she had come out of retirement to work closely with them at a busy time. They deny bullying her.     

The Sussexes’ autumn tour

in 2018, when they visited Australia, New Zealand, Fiji and Tonga, was stressful for staff, sources say. A senior adviser did his best to reassure them, saying: “You are dealing with a very difficult lady.”The issue boils down to whether Meghan was a demanding boss with high standards, or a bully. Did her team fail her or did she ask the impossible?    Bully!  

In court papers for her successful privacy action against TheMail on Sunday

, her lawyers said that when she was distressed by the negative stories in the media about her, her friends felt frustrated by the instruction from the palace communications team that they should respond “no comment” to allegations. That left her friends “rightly concerned for her welfare, specifically as she was pregnant, unprotected by the institution and prohibited from defending herself”, they said.     

It was a setup from the beginning.    

An alternative view, sources say, is that Meghan craved rejection from the moment she walked into Kensington Palace, and that nothing that anyone did would ever be good enough.     

True, she is mentally ill  

The palace knew that when Harry married a woman who was biracial, American and divorced, they had to go out of their way to make sure the marriage was a success: if it was not, the royal household and their supposedly hidebound ways would be blamed. 

“Everyone knew that the institution would be judged by her happiness,” a source said. “The mistake they made was thinking she wanted to be happy. She wanted to be rejected because she was obsessed with that narrative from day one.” 

     TRUE!   

Lawyers for the duchess said this was entirely wrong. The duchess wished to fit in and be accepted and had left her life in North America to commit herself to her new role.      

Liar, it was always going to be this way, she was never a sticker.  It's all about the money.   

More than one source has expressed their view about her wanting to be a victim. One claimed: “She wanted to be the victim because then she could convince Harry that it was an unbearable experience and they had no choice but to move to America.” 

Lawyers for the duke and duchess denied this was true. Supporters of the couple have argued that Harry and Meghan were frustrated in their attempts to live their life in a different way.     

Winner, winner, chicken dinner!  Meghan worked on Harry that the same thing was going to happen to her as his mother. They are after me Harry even though her PR is the one who set up the articles. 

Finding Freedom

quoted a source close to the prince saying that “nothing could convince Harry that some of the old guard at the palace simply didn’t like Meghan and would stop at nothing to make her life difficult”. In her legal case against

The Mail on Sunday

, the duchess’s lawyers denied that the couple collaborated with the book.       One source claimed that most of the tensions in the household at the time concerned the Sussexes’ relations with the media. “The way I see it, their view of not getting institutional support was that they were not getting permission to blow up the institution’s relationships with the media.” Again, lawyers for the duke and duchess deny this.      Their lawyers are denying a lot!   One conversation confirmed to

The Times

seems to reveal how much the palace was prepared to go out of its way to help Meghan. Before the wedding, the couple had a meeting with a senior aide who told them that the palace was doing everything it could to help and there was no need to think she had to take on her role in a particular way, a source said. If she was passionate about the acting world, they could help her to think about finding a role within the film industry.     

They made sure Meghan had anything she wanted. They rolled out the red carpet. I told them she is going to screw you!   

The source said: “The entire place, because of everything about her, and because of what Harry’s previous girlfriends had been through, was bending over backwards to make sure that every option was open.” They said Meghan thanked them, but said she had no wish to carry on acting. Instead she wanted to concentrate on her humanitarian and philanthropic work, and to support Harry as a member of the royal family.That might have been that, except of course it wasn’t. Part of the problem, according to the source, was that everyone in the palace was so genteel and civil; too genteel and civil: “When someone decides not to be civil, they have no idea what to do. They were run over by her, and then run over by Harry. They had no idea what to do.”      The duchess issued a detailed statement last night stating that the allegations were a smear campaign and an attack on her character.  

[michaeljtraylor]

Trump’s other tax problem – POLITICO

Editor’s Note: This edition of Morning Money is published weekdays at 8 a.m. POLITICO Pro Financial Services subscribers hold exclusive early access to the newsletter each morning at 5:15 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here.

Trump’s tax problem — No, it’s not just his own returns. I write here about how President Trump’s signature tax cut law remains remarkably unpopular and could prove to be a drag in 2020. It’s part of this reason Trump is in Minnesota to tout the law on Tax Day today and the White House will remain focused on it for the week.

Story Continued Below

What’s changed — Via AEI’s Karlyn Bowman: “I think the two major developments on tax attitudes are that Republicans have lost the edge they once had as the party best able to handle taxes … And Democrats seem to be making headway by hammering away at the rich not paying enough.”

Buttigieg gets in — Our Daniel Strauss writes here about South Bend Mayor Pete Buttigieg, already surging in early primary polls, officially joining the presidential field. Mayor Pete, as he likes to be called, faces longs odds of winning the nomination. But his generational appeal for an entirely new politics is clearly resonating.

Here’s what he told me in a recent interview: “So by 2054, when I get to the current age of the current president, the shape of the world then, both environmentally, economically, and beyond, that’s not a theoretical question; it’s a personal one that I have to prepare for just as a human being and I think that gives me a certain sense of urgency around the policy conversation, too.”

GOOD MONDAY MORNING — Congrats to 43-year old Masters champion Tiger Woods, an MM fav for decades, who gives hope to all us aging Gen Xers with bad backs. Email me on bwhite@politico.com and follow me on Twitter @morningmoneyben. Email Aubree Eliza Weaver on aweaver@politico.com and follow her on Twitter @AubreeEWeaver.

THIS MORNING ON POLITICO PRO FINANCIAL SERVICES — Victoria Guida and Patrick Temple-West on the White House’s move to exert greater control over independent government agencies and how it could permanently alter the political considerations behind regulatory actions. To get Morning Money every day before 6 a.m., please contact Pro Services at (703) 341-4600 or info@politicopro.com.

DRIVING THE WEEK — Congress is out on recess … Trump visits Burnsville, Minn. at 1:00 p.m. local time for a tax reform roundtable … Trump speaks at an Opportunity Zones conference on Wednesday … AG Bill Barr has said he hopes to release the redacted Mueller Report this week …

FORGET RECESSION — Deutsche Bank’s Torsten Slok: “We have updated our US economic outlook and we do not see a recession for the next three years. Growth will slow from 3% in 2018 to 2% and inflation pressures will abate and the Fed will stay on hold until the end of 2021 and long rates will stay low.”

GOLDMAN: TRUMP THE FAVORITE — Via a new report led by Goldman Sachs analysts Jan Hatzius and Alec Phillips: “An update and expansion of our prior work on the relationship between the economy and presidential election outcomes suggests that President Trump has a narrow advantage going into the upcoming election.

“First-term incumbents have a built-in advantage of 5-6pp in the popular vote, we find, and our economic forecast also gives the President a slim advantage. A somewhat negative net presidential approval rating only partly offsets this.”

AND HE’S RAISING BIG BANK — Via AP: Trump’s reelection campaign is set to report that it raised more than $30 million in the first quarter of 2019, edging out his top two Democratic rivals combined, according to figures it provided to The Associated Press.” Read more.

WH NOT TOO WORRIED ABOUT MUELLER REPORT — Our Eliana Johnson, Daniel Lippman, and Darren Samuelsohn: “While most of official Washington is on edge ahead of the expected release of special counsel Robert Mueller’s full report, Trump White House aides are shrugging off the fevered anticipation with a simple message: been there, done that.” Read more.

TRUMP GOES AFTER THE FED AGAIN — Reuters’ Howard Schneider: “Trump said on Sunday that actions by the U.S. Federal Reserve have nicked U.S. economic growth and stock market gains by perhaps 30 percent, and that it should begin pumping money into the economy as it did during the 2007-2009 recession.

“Trump’s latest broadside against the central bank, delivered by Twitter and without citing any evidence, came as European Central Bank head Mario Draghi and other international officials worried that a Fed politicized by potential Trump nominees would rattle a dollar-based global system.” Read more.

And it cast a chill at the IMF meetings — WSJ’s Nick Timiraos: “Former Federal Reserve officials and foreign central bankers said … Trump’s combative stance toward the U.S. central bank could over time weaken the institution and its role in the global economy.” Read more.

IN NY PLAYBOOK TODAY — Check out news of a fresh PAC formed by tech companies in New York unhappy with how the Amazon HQ2 saga played out.

NEW ON TAX DAY — Americans for Prosperity has a new letter out today with other organizations “telling Congress that a federal gas tax increase is the last thing Americans need.” Read more.

MNUCHIN SAYS CHINA TRADE TALKS NEARING FINAL ROUND — NYT’s Alan Rappeport: “Treasury Secretary Steven Mnuchin said on Saturday that he believed the United States and China were nearing the final stage of trade negotiations, moving closer to what he said would be the biggest change in the economic relationship between the countries in 40 years.” Read more.

JACK LEW ON MMT — Former Treasury Secretary Jack Lew in remarks at Hofstra at the end of last week: “New economic theories will not erase the cost of servicing the debt, or the risk to our financial future if we simply abandon the notion that there is a limit to how much we can borrow and how much money we can print.”

DON’T GET TOO BULLISH — Mohamed A. El-Erian on Bloomberg Opinion: “Data released last week provided more support for the notion of short-term stabilization in China, but there isn’t yet a convincing longer-term case for higher growth, or for a less uncertain road for a global economy characterized by divergent performance among its systematically most important economies.” Read more.

POWELL NAVIGATES ANGRY PRESIDENT, TURBULENT MARKETS — NYT’s Jim Tankersley and Neil Irwin: “As soon as the Federal Reserve chairman, Jerome H. Powell, finished speaking at his December news conference, it was clear, even to him, that he had blown it. Stocks were tumbling. Analysts worried that the Fed was steering the economy into recession. And …Trump was furious.

“Four months later, Mr. Powell and the Fed have mostly repaired the damage, ending a steady march of interest rate increases and signaling that their next policy move may well be a rate cut if the economy continues to soften. Markets have rallied and recession fears have cooled. But one challenge has only worsened for Mr. Powell: Mr. Trump and his escalating anger at the Fed.” Read more.

Speaking of the Fed, what do you need to be on the board? — WSJ’s Greg Ip: “Neither Stephen Moore nor Herman Cain, political allies that President Trump hopes to put on the Federal Reserve Board, has a Ph.D. in economics. For fans and even some foes, that’s a virtue, not a vice. In these populist times, knowing too much economics means you’re out of touch, arrogant, and wrong. Few institutions have suffered the backlash against elitism and credentialism as much as central banks, which are mostly run by professional economists.” Read more.

WOULD A POLITICAL FED RESCUE THE WORLD? — Reuters’ Howard Schneider: “As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars.

“The ‘swap lines’ that the Fed quickly approved helped ease intense financial stress in foreign markets, but also showed the U.S. central bank was prepared to stand behind the global system. Would an ‘America First’ Fed do the same?” Read more.

S&P 500 NOTCHED 3RD STRAIGHT WEEKLY GAIN — AP’s Alex Veiga: “Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading. The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.” Read more.

And the global stock rally has defied a dimming economic outlook — WSJ’s Akane Otani: “Global stocks are rising at the fastest pace in decades as growth around the world slows, leaving many investors questioning how much longer the market can defy the gravity of the underlying economics. Indexes from New York and Europe to China have soared double-digit percentages this year to regain most of their ground after tanking in the fourth quarter, supported by signs that central banks are willing to keep holding interest rates at low levels for the foreseeable future.” Read more.

NEW INVESTMENT FOR RIO TINTO — Per release: “Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona. The investment will fund additional drilling, ore-body studies, infrastructure improvements and permitting activities as Rio Tinto looks to progress the project to the final stage of the project’s permitting phase.”

Source link

from RSSMix.com Mix ID 8312273 https://hashtaghighways.com/2019/04/16/trumps-other-tax-problem-politico/ from Garko Media https://garkomedia1.tumblr.com/post/184222584169

[garkomedia1]

Trump’s other tax problem – POLITICO

Editor’s Note: This edition of Morning Money is published weekdays at 8 a.m. POLITICO Pro Financial Services subscribers hold exclusive early access to the newsletter each morning at 5:15 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here.

Trump’s tax problem — No, it’s not just his own returns. I write here about how President Trump’s signature tax cut law remains remarkably unpopular and could prove to be a drag in 2020. It’s part of this reason Trump is in Minnesota to tout the law on Tax Day today and the White House will remain focused on it for the week.

Story Continued Below

What’s changed — Via AEI’s Karlyn Bowman: “I think the two major developments on tax attitudes are that Republicans have lost the edge they once had as the party best able to handle taxes … And Democrats seem to be making headway by hammering away at the rich not paying enough.”

Buttigieg gets in — Our Daniel Strauss writes here about South Bend Mayor Pete Buttigieg, already surging in early primary polls, officially joining the presidential field. Mayor Pete, as he likes to be called, faces longs odds of winning the nomination. But his generational appeal for an entirely new politics is clearly resonating.

Here’s what he told me in a recent interview: “So by 2054, when I get to the current age of the current president, the shape of the world then, both environmentally, economically, and beyond, that’s not a theoretical question; it’s a personal one that I have to prepare for just as a human being and I think that gives me a certain sense of urgency around the policy conversation, too.”

GOOD MONDAY MORNING — Congrats to 43-year old Masters champion Tiger Woods, an MM fav for decades, who gives hope to all us aging Gen Xers with bad backs. Email me on bwhite@politico.com and follow me on Twitter @morningmoneyben. Email Aubree Eliza Weaver on aweaver@politico.com and follow her on Twitter @AubreeEWeaver.

THIS MORNING ON POLITICO PRO FINANCIAL SERVICES — Victoria Guida and Patrick Temple-West on the White House’s move to exert greater control over independent government agencies and how it could permanently alter the political considerations behind regulatory actions. To get Morning Money every day before 6 a.m., please contact Pro Services at (703) 341-4600 or info@politicopro.com.

DRIVING THE WEEK — Congress is out on recess … Trump visits Burnsville, Minn. at 1:00 p.m. local time for a tax reform roundtable … Trump speaks at an Opportunity Zones conference on Wednesday … AG Bill Barr has said he hopes to release the redacted Mueller Report this week …

FORGET RECESSION — Deutsche Bank’s Torsten Slok: “We have updated our US economic outlook and we do not see a recession for the next three years. Growth will slow from 3% in 2018 to 2% and inflation pressures will abate and the Fed will stay on hold until the end of 2021 and long rates will stay low.”

GOLDMAN: TRUMP THE FAVORITE — Via a new report led by Goldman Sachs analysts Jan Hatzius and Alec Phillips: “An update and expansion of our prior work on the relationship between the economy and presidential election outcomes suggests that President Trump has a narrow advantage going into the upcoming election.

“First-term incumbents have a built-in advantage of 5-6pp in the popular vote, we find, and our economic forecast also gives the President a slim advantage. A somewhat negative net presidential approval rating only partly offsets this.”

AND HE’S RAISING BIG BANK — Via AP: Trump’s reelection campaign is set to report that it raised more than $30 million in the first quarter of 2019, edging out his top two Democratic rivals combined, according to figures it provided to The Associated Press.” Read more.

WH NOT TOO WORRIED ABOUT MUELLER REPORT — Our Eliana Johnson, Daniel Lippman, and Darren Samuelsohn: “While most of official Washington is on edge ahead of the expected release of special counsel Robert Mueller’s full report, Trump White House aides are shrugging off the fevered anticipation with a simple message: been there, done that.” Read more.

TRUMP GOES AFTER THE FED AGAIN — Reuters’ Howard Schneider: “Trump said on Sunday that actions by the U.S. Federal Reserve have nicked U.S. economic growth and stock market gains by perhaps 30 percent, and that it should begin pumping money into the economy as it did during the 2007-2009 recession.

“Trump’s latest broadside against the central bank, delivered by Twitter and without citing any evidence, came as European Central Bank head Mario Draghi and other international officials worried that a Fed politicized by potential Trump nominees would rattle a dollar-based global system.” Read more.

And it cast a chill at the IMF meetings — WSJ’s Nick Timiraos: “Former Federal Reserve officials and foreign central bankers said … Trump’s combative stance toward the U.S. central bank could over time weaken the institution and its role in the global economy.” Read more.

IN NY PLAYBOOK TODAY — Check out news of a fresh PAC formed by tech companies in New York unhappy with how the Amazon HQ2 saga played out.

NEW ON TAX DAY — Americans for Prosperity has a new letter out today with other organizations “telling Congress that a federal gas tax increase is the last thing Americans need.” Read more.

MNUCHIN SAYS CHINA TRADE TALKS NEARING FINAL ROUND — NYT’s Alan Rappeport: “Treasury Secretary Steven Mnuchin said on Saturday that he believed the United States and China were nearing the final stage of trade negotiations, moving closer to what he said would be the biggest change in the economic relationship between the countries in 40 years.” Read more.

JACK LEW ON MMT — Former Treasury Secretary Jack Lew in remarks at Hofstra at the end of last week: “New economic theories will not erase the cost of servicing the debt, or the risk to our financial future if we simply abandon the notion that there is a limit to how much we can borrow and how much money we can print.”

DON’T GET TOO BULLISH — Mohamed A. El-Erian on Bloomberg Opinion: “Data released last week provided more support for the notion of short-term stabilization in China, but there isn’t yet a convincing longer-term case for higher growth, or for a less uncertain road for a global economy characterized by divergent performance among its systematically most important economies.” Read more.

POWELL NAVIGATES ANGRY PRESIDENT, TURBULENT MARKETS — NYT’s Jim Tankersley and Neil Irwin: “As soon as the Federal Reserve chairman, Jerome H. Powell, finished speaking at his December news conference, it was clear, even to him, that he had blown it. Stocks were tumbling. Analysts worried that the Fed was steering the economy into recession. And …Trump was furious.

“Four months later, Mr. Powell and the Fed have mostly repaired the damage, ending a steady march of interest rate increases and signaling that their next policy move may well be a rate cut if the economy continues to soften. Markets have rallied and recession fears have cooled. But one challenge has only worsened for Mr. Powell: Mr. Trump and his escalating anger at the Fed.” Read more.

Speaking of the Fed, what do you need to be on the board? — WSJ’s Greg Ip: “Neither Stephen Moore nor Herman Cain, political allies that President Trump hopes to put on the Federal Reserve Board, has a Ph.D. in economics. For fans and even some foes, that’s a virtue, not a vice. In these populist times, knowing too much economics means you’re out of touch, arrogant, and wrong. Few institutions have suffered the backlash against elitism and credentialism as much as central banks, which are mostly run by professional economists.” Read more.

WOULD A POLITICAL FED RESCUE THE WORLD? — Reuters’ Howard Schneider: “As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars.

“The ‘swap lines’ that the Fed quickly approved helped ease intense financial stress in foreign markets, but also showed the U.S. central bank was prepared to stand behind the global system. Would an ‘America First’ Fed do the same?” Read more.

S&P 500 NOTCHED 3RD STRAIGHT WEEKLY GAIN — AP’s Alex Veiga: “Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading. The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.” Read more.

And the global stock rally has defied a dimming economic outlook — WSJ’s Akane Otani: “Global stocks are rising at the fastest pace in decades as growth around the world slows, leaving many investors questioning how much longer the market can defy the gravity of the underlying economics. Indexes from New York and Europe to China have soared double-digit percentages this year to regain most of their ground after tanking in the fourth quarter, supported by signs that central banks are willing to keep holding interest rates at low levels for the foreseeable future.” Read more.

NEW INVESTMENT FOR RIO TINTO — Per release: “Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona. The investment will fund additional drilling, ore-body studies, infrastructure improvements and permitting activities as Rio Tinto looks to progress the project to the final stage of the project’s permitting phase.”

Source link

from RSSMix.com Mix ID 8312273 https://hashtaghighways.com/2019/04/16/trumps-other-tax-problem-politico/

[garkodigitalmedia]

Trump’s other tax problem – POLITICO

Editor’s Note: This edition of Morning Money is published weekdays at 8 a.m. POLITICO Pro Financial Services subscribers hold exclusive early access to the newsletter each morning at 5:15 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here.

Trump’s tax problem — No, it’s not just his own returns. I write here about how President Trump’s signature tax cut law remains remarkably unpopular and could prove to be a drag in 2020. It’s part of this reason Trump is in Minnesota to tout the law on Tax Day today and the White House will remain focused on it for the week.

Story Continued Below

What’s changed — Via AEI’s Karlyn Bowman: “I think the two major developments on tax attitudes are that Republicans have lost the edge they once had as the party best able to handle taxes … And Democrats seem to be making headway by hammering away at the rich not paying enough.”

Buttigieg gets in — Our Daniel Strauss writes here about South Bend Mayor Pete Buttigieg, already surging in early primary polls, officially joining the presidential field. Mayor Pete, as he likes to be called, faces longs odds of winning the nomination. But his generational appeal for an entirely new politics is clearly resonating.

Here’s what he told me in a recent interview: “So by 2054, when I get to the current age of the current president, the shape of the world then, both environmentally, economically, and beyond, that’s not a theoretical question; it’s a personal one that I have to prepare for just as a human being and I think that gives me a certain sense of urgency around the policy conversation, too.”

GOOD MONDAY MORNING — Congrats to 43-year old Masters champion Tiger Woods, an MM fav for decades, who gives hope to all us aging Gen Xers with bad backs. Email me on bwhite@politico.com and follow me on Twitter @morningmoneyben. Email Aubree Eliza Weaver on aweaver@politico.com and follow her on Twitter @AubreeEWeaver.

THIS MORNING ON POLITICO PRO FINANCIAL SERVICES — Victoria Guida and Patrick Temple-West on the White House’s move to exert greater control over independent government agencies and how it could permanently alter the political considerations behind regulatory actions. To get Morning Money every day before 6 a.m., please contact Pro Services at (703) 341-4600 or info@politicopro.com.

DRIVING THE WEEK — Congress is out on recess … Trump visits Burnsville, Minn. at 1:00 p.m. local time for a tax reform roundtable … Trump speaks at an Opportunity Zones conference on Wednesday … AG Bill Barr has said he hopes to release the redacted Mueller Report this week …

FORGET RECESSION — Deutsche Bank’s Torsten Slok: “We have updated our US economic outlook and we do not see a recession for the next three years. Growth will slow from 3% in 2018 to 2% and inflation pressures will abate and the Fed will stay on hold until the end of 2021 and long rates will stay low.”

GOLDMAN: TRUMP THE FAVORITE — Via a new report led by Goldman Sachs analysts Jan Hatzius and Alec Phillips: “An update and expansion of our prior work on the relationship between the economy and presidential election outcomes suggests that President Trump has a narrow advantage going into the upcoming election.

“First-term incumbents have a built-in advantage of 5-6pp in the popular vote, we find, and our economic forecast also gives the President a slim advantage. A somewhat negative net presidential approval rating only partly offsets this.”

AND HE’S RAISING BIG BANK — Via AP: Trump’s reelection campaign is set to report that it raised more than $30 million in the first quarter of 2019, edging out his top two Democratic rivals combined, according to figures it provided to The Associated Press.” Read more.

WH NOT TOO WORRIED ABOUT MUELLER REPORT — Our Eliana Johnson, Daniel Lippman, and Darren Samuelsohn: “While most of official Washington is on edge ahead of the expected release of special counsel Robert Mueller’s full report, Trump White House aides are shrugging off the fevered anticipation with a simple message: been there, done that.” Read more.

TRUMP GOES AFTER THE FED AGAIN — Reuters’ Howard Schneider: “Trump said on Sunday that actions by the U.S. Federal Reserve have nicked U.S. economic growth and stock market gains by perhaps 30 percent, and that it should begin pumping money into the economy as it did during the 2007-2009 recession.

“Trump’s latest broadside against the central bank, delivered by Twitter and without citing any evidence, came as European Central Bank head Mario Draghi and other international officials worried that a Fed politicized by potential Trump nominees would rattle a dollar-based global system.” Read more.

And it cast a chill at the IMF meetings — WSJ’s Nick Timiraos: “Former Federal Reserve officials and foreign central bankers said … Trump’s combative stance toward the U.S. central bank could over time weaken the institution and its role in the global economy.” Read more.

IN NY PLAYBOOK TODAY — Check out news of a fresh PAC formed by tech companies in New York unhappy with how the Amazon HQ2 saga played out.

NEW ON TAX DAY — Americans for Prosperity has a new letter out today with other organizations “telling Congress that a federal gas tax increase is the last thing Americans need.” Read more.

MNUCHIN SAYS CHINA TRADE TALKS NEARING FINAL ROUND — NYT’s Alan Rappeport: “Treasury Secretary Steven Mnuchin said on Saturday that he believed the United States and China were nearing the final stage of trade negotiations, moving closer to what he said would be the biggest change in the economic relationship between the countries in 40 years.” Read more.

JACK LEW ON MMT — Former Treasury Secretary Jack Lew in remarks at Hofstra at the end of last week: “New economic theories will not erase the cost of servicing the debt, or the risk to our financial future if we simply abandon the notion that there is a limit to how much we can borrow and how much money we can print.”

DON’T GET TOO BULLISH — Mohamed A. El-Erian on Bloomberg Opinion: “Data released last week provided more support for the notion of short-term stabilization in China, but there isn’t yet a convincing longer-term case for higher growth, or for a less uncertain road for a global economy characterized by divergent performance among its systematically most important economies.” Read more.

POWELL NAVIGATES ANGRY PRESIDENT, TURBULENT MARKETS — NYT’s Jim Tankersley and Neil Irwin: “As soon as the Federal Reserve chairman, Jerome H. Powell, finished speaking at his December news conference, it was clear, even to him, that he had blown it. Stocks were tumbling. Analysts worried that the Fed was steering the economy into recession. And …Trump was furious.

“Four months later, Mr. Powell and the Fed have mostly repaired the damage, ending a steady march of interest rate increases and signaling that their next policy move may well be a rate cut if the economy continues to soften. Markets have rallied and recession fears have cooled. But one challenge has only worsened for Mr. Powell: Mr. Trump and his escalating anger at the Fed.” Read more.

Speaking of the Fed, what do you need to be on the board? — WSJ’s Greg Ip: “Neither Stephen Moore nor Herman Cain, political allies that President Trump hopes to put on the Federal Reserve Board, has a Ph.D. in economics. For fans and even some foes, that’s a virtue, not a vice. In these populist times, knowing too much economics means you’re out of touch, arrogant, and wrong. Few institutions have suffered the backlash against elitism and credentialism as much as central banks, which are mostly run by professional economists.” Read more.

WOULD A POLITICAL FED RESCUE THE WORLD? — Reuters’ Howard Schneider: “As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars.

“The ‘swap lines’ that the Fed quickly approved helped ease intense financial stress in foreign markets, but also showed the U.S. central bank was prepared to stand behind the global system. Would an ‘America First’ Fed do the same?” Read more.

S&P 500 NOTCHED 3RD STRAIGHT WEEKLY GAIN — AP’s Alex Veiga: “Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading. The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.” Read more.

And the global stock rally has defied a dimming economic outlook — WSJ’s Akane Otani: “Global stocks are rising at the fastest pace in decades as growth around the world slows, leaving many investors questioning how much longer the market can defy the gravity of the underlying economics. Indexes from New York and Europe to China have soared double-digit percentages this year to regain most of their ground after tanking in the fourth quarter, supported by signs that central banks are willing to keep holding interest rates at low levels for the foreseeable future.” Read more.

NEW INVESTMENT FOR RIO TINTO — Per release: “Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona. The investment will fund additional drilling, ore-body studies, infrastructure improvements and permitting activities as Rio Tinto looks to progress the project to the final stage of the project’s permitting phase.”

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Trump’s other tax problem – POLITICO

Editor’s Note: This edition of Morning Money is published weekdays at 8 a.m. POLITICO Pro Financial Services subscribers hold exclusive early access to the newsletter each morning at 5:15 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here.

Trump’s tax problem — No, it’s not just his own returns. I write here about how President Trump’s signature tax cut law remains remarkably unpopular and could prove to be a drag in 2020. It’s part of this reason Trump is in Minnesota to tout the law on Tax Day today and the White House will remain focused on it for the week.

Story Continued Below

What’s changed — Via AEI’s Karlyn Bowman: “I think the two major developments on tax attitudes are that Republicans have lost the edge they once had as the party best able to handle taxes … And Democrats seem to be making headway by hammering away at the rich not paying enough.”

Buttigieg gets in — Our Daniel Strauss writes here about South Bend Mayor Pete Buttigieg, already surging in early primary polls, officially joining the presidential field. Mayor Pete, as he likes to be called, faces longs odds of winning the nomination. But his generational appeal for an entirely new politics is clearly resonating.

Here’s what he told me in a recent interview: “So by 2054, when I get to the current age of the current president, the shape of the world then, both environmentally, economically, and beyond, that’s not a theoretical question; it’s a personal one that I have to prepare for just as a human being and I think that gives me a certain sense of urgency around the policy conversation, too.”

GOOD MONDAY MORNING — Congrats to 43-year old Masters champion Tiger Woods, an MM fav for decades, who gives hope to all us aging Gen Xers with bad backs. Email me on bwhite@politico.com and follow me on Twitter @morningmoneyben. Email Aubree Eliza Weaver on aweaver@politico.com and follow her on Twitter @AubreeEWeaver.

THIS MORNING ON POLITICO PRO FINANCIAL SERVICES — Victoria Guida and Patrick Temple-West on the White House’s move to exert greater control over independent government agencies and how it could permanently alter the political considerations behind regulatory actions. To get Morning Money every day before 6 a.m., please contact Pro Services at (703) 341-4600 or info@politicopro.com.

DRIVING THE WEEK — Congress is out on recess … Trump visits Burnsville, Minn. at 1:00 p.m. local time for a tax reform roundtable … Trump speaks at an Opportunity Zones conference on Wednesday … AG Bill Barr has said he hopes to release the redacted Mueller Report this week …

FORGET RECESSION — Deutsche Bank’s Torsten Slok: “We have updated our US economic outlook and we do not see a recession for the next three years. Growth will slow from 3% in 2018 to 2% and inflation pressures will abate and the Fed will stay on hold until the end of 2021 and long rates will stay low.”

GOLDMAN: TRUMP THE FAVORITE — Via a new report led by Goldman Sachs analysts Jan Hatzius and Alec Phillips: “An update and expansion of our prior work on the relationship between the economy and presidential election outcomes suggests that President Trump has a narrow advantage going into the upcoming election.

“First-term incumbents have a built-in advantage of 5-6pp in the popular vote, we find, and our economic forecast also gives the President a slim advantage. A somewhat negative net presidential approval rating only partly offsets this.”

AND HE’S RAISING BIG BANK — Via AP: Trump’s reelection campaign is set to report that it raised more than $30 million in the first quarter of 2019, edging out his top two Democratic rivals combined, according to figures it provided to The Associated Press.” Read more.

WH NOT TOO WORRIED ABOUT MUELLER REPORT — Our Eliana Johnson, Daniel Lippman, and Darren Samuelsohn: “While most of official Washington is on edge ahead of the expected release of special counsel Robert Mueller’s full report, Trump White House aides are shrugging off the fevered anticipation with a simple message: been there, done that.” Read more.

TRUMP GOES AFTER THE FED AGAIN — Reuters’ Howard Schneider: “Trump said on Sunday that actions by the U.S. Federal Reserve have nicked U.S. economic growth and stock market gains by perhaps 30 percent, and that it should begin pumping money into the economy as it did during the 2007-2009 recession.

“Trump’s latest broadside against the central bank, delivered by Twitter and without citing any evidence, came as European Central Bank head Mario Draghi and other international officials worried that a Fed politicized by potential Trump nominees would rattle a dollar-based global system.” Read more.

And it cast a chill at the IMF meetings — WSJ’s Nick Timiraos: “Former Federal Reserve officials and foreign central bankers said … Trump’s combative stance toward the U.S. central bank could over time weaken the institution and its role in the global economy.” Read more.

IN NY PLAYBOOK TODAY — Check out news of a fresh PAC formed by tech companies in New York unhappy with how the Amazon HQ2 saga played out.

NEW ON TAX DAY — Americans for Prosperity has a new letter out today with other organizations “telling Congress that a federal gas tax increase is the last thing Americans need.” Read more.

MNUCHIN SAYS CHINA TRADE TALKS NEARING FINAL ROUND — NYT’s Alan Rappeport: “Treasury Secretary Steven Mnuchin said on Saturday that he believed the United States and China were nearing the final stage of trade negotiations, moving closer to what he said would be the biggest change in the economic relationship between the countries in 40 years.” Read more.

JACK LEW ON MMT — Former Treasury Secretary Jack Lew in remarks at Hofstra at the end of last week: “New economic theories will not erase the cost of servicing the debt, or the risk to our financial future if we simply abandon the notion that there is a limit to how much we can borrow and how much money we can print.”

DON’T GET TOO BULLISH — Mohamed A. El-Erian on Bloomberg Opinion: “Data released last week provided more support for the notion of short-term stabilization in China, but there isn’t yet a convincing longer-term case for higher growth, or for a less uncertain road for a global economy characterized by divergent performance among its systematically most important economies.” Read more.

POWELL NAVIGATES ANGRY PRESIDENT, TURBULENT MARKETS — NYT’s Jim Tankersley and Neil Irwin: “As soon as the Federal Reserve chairman, Jerome H. Powell, finished speaking at his December news conference, it was clear, even to him, that he had blown it. Stocks were tumbling. Analysts worried that the Fed was steering the economy into recession. And …Trump was furious.

“Four months later, Mr. Powell and the Fed have mostly repaired the damage, ending a steady march of interest rate increases and signaling that their next policy move may well be a rate cut if the economy continues to soften. Markets have rallied and recession fears have cooled. But one challenge has only worsened for Mr. Powell: Mr. Trump and his escalating anger at the Fed.” Read more.

Speaking of the Fed, what do you need to be on the board? — WSJ’s Greg Ip: “Neither Stephen Moore nor Herman Cain, political allies that President Trump hopes to put on the Federal Reserve Board, has a Ph.D. in economics. For fans and even some foes, that’s a virtue, not a vice. In these populist times, knowing too much economics means you’re out of touch, arrogant, and wrong. Few institutions have suffered the backlash against elitism and credentialism as much as central banks, which are mostly run by professional economists.” Read more.

WOULD A POLITICAL FED RESCUE THE WORLD? — Reuters’ Howard Schneider: “As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars.

“The ‘swap lines’ that the Fed quickly approved helped ease intense financial stress in foreign markets, but also showed the U.S. central bank was prepared to stand behind the global system. Would an ‘America First’ Fed do the same?” Read more.

S&P 500 NOTCHED 3RD STRAIGHT WEEKLY GAIN — AP’s Alex Veiga: “Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading. The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.” Read more.

And the global stock rally has defied a dimming economic outlook — WSJ’s Akane Otani: “Global stocks are rising at the fastest pace in decades as growth around the world slows, leaving many investors questioning how much longer the market can defy the gravity of the underlying economics. Indexes from New York and Europe to China have soared double-digit percentages this year to regain most of their ground after tanking in the fourth quarter, supported by signs that central banks are willing to keep holding interest rates at low levels for the foreseeable future.” Read more.

NEW INVESTMENT FOR RIO TINTO — Per release: “Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona. The investment will fund additional drilling, ore-body studies, infrastructure improvements and permitting activities as Rio Tinto looks to progress the project to the final stage of the project’s permitting phase.”

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