In the course of my hunt for Donalds, I happened to connect with Donald Luskin, a Chicago-based economic strategist who supported Trump in the election. His firm, TrendMacro, was by his estimation one of the earliest predictors of a Trump win. So does Luskin love all the attention he’s getting just because of his first name? “I can’t think of a single case where anyone’s ever raised it,” he said. Still, he’s worked it into a few jokes, sure.
When is a tax cut a tax hike? When refiners and other firms get hit with the BAT.
Post-election animal spirits drive a big beat, while the Fed is comforted by small wage gains.
The Fed will be extremely gradualist as the economy pulls out of “secular stagnation.”
The Journal article also indicated that “retailers and oil refiners have lined up against the measure, warning it would drive up their tax bills and force them to raise prices.” It also reported that Koch Industries “last month said the border-adjustment measure could have ‘devastating’ long-term consequences for the economy and the American consumer.” In an opinion piece, Donald Luskin wrote that “the costs [of taxing imports] would be passed on to Americans in some form: either to consumers through higher prices or to stockholders through lower profits.”