Jobless Claims Unexpectedly Fall to Near Lowest Level in 45 Years

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Fewer Americans than expected filed for unemployment benefits last week, pushing jobless claims down to their lowest level in nearly 45 years.

Initial claims for unemployment benefits fell by 9,000 to a seasonally adjusted 221,0000, the Labor market said Thursday. That put jobless claims near that 216,000 level hit in January, the lowest level since January 1973.

Economists had been forecasting a rise in claims to 232,000. – READ MORE

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If first quarter tax revenues are any indication, Trumponomics is operating much like Reaganomics and producing the same kind of results: lower taxes and deregulation resulting in more economic growth and, thus, more tax revenues.

In the first quarter after the Republican-passed, Donald Trump-signed reform bill — which will save taxpayers and corporations $1.5 trillion in taxes over ten years — tax revenues actually increased by $18 billion (5.2%) over the previous year, resulting in the government running a $51-billion surplus.

The CBO notes that not all employee tax withholdings have been updated under the new policies; companies have until mid-February to do so. However, as Investors Bureau Daily underscores, the CBO’s numbers suggest that gains in wages and salaries are likely to continue and even “accelerate” due to the tax cuts.

The increase in tax revenues corresponds with the positive economic news of the last few months. Trump’s aggressive approach to slashing regulations — more aggressive, in fact, in than Reagan so far — appears to be paying dividends. The Atlanta Fed’s recent forecast for the first quarter of 2018 indicates a dramatic increase in GDP of an estimated 5.4%READ MORE

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During Trump’s speech on tax cuts on Monday, Tur decided to tweet about a woman who was thankful for her bonus. It resulted in instant criticism.

Tur tweeted:

There were many who felt that Tur’s comment was out of touch:

Based on the response, some people were not appreciative of her going after the woman. – READ MORE

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A new campaign ad from the National Republican Congressional Committee is targeting Democratic candidates running in the 2018 midterms using House Minority Leader Nancy Pelosi’s (D-CA) recent “crumbs” remarks, belittling the bonuses and wage increases that employees are receiving as a result of the GOP tax reform bill.

“The ad, titled ‘Changing Lives,’ takes aim at Pennsylvania Democratic Congressional nominee Conor Lamb who called the GOP’s efforts to overhaul the tax system a ‘complete betrayal,'” The Washington Free Beacon reported. – READ MORE

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President Donald Trump knocked House Minority Leader Nancy Pelosi (D-Calif.) on Monday, suggesting that she, like former Democratic presidential nominee Hillary Clinton, would energize his base after describing tax reform bonuses as “crumbs.”

“She’s a rich woman who lives in a big, beautiful house in California, who wants to give all of your money away,” Trump said while speaking in Ohio.

Trump likened Pelosi’s crumbs comment to Clinton’s “deplorable” description of Trump supporters she used during the 2016 presidential campaign. – READ MORE

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