What’s The Plan, Ronna?
The One Person Who Was Awfully Quiet About the Debt Ceiling Deal
Sick of the Moral Preening of Conservatives After Every Loss
Is the Sleeping Conservative Dragon Finally Waking Up?
The Supreme Court Finally Reins in EPA Water Czars
Raising the Debt Ceiling is Nothing but Government Theft
What's Playing at the Kennedy
Death of the Professions
Yes We Fight, But Not With the Weapons of the World
Protecting our Kids’ Mental Health by Protecting their Sexual Health
Some Democrats Give Hypocrisy A Bad Name On Education
Time to Fully Support Our Drug Enforcers – If Not Now, When?
A Conversation With Lt. Col. Oliver North
The Founders and Religious Liberty
CUNY Law: A Graduation Under Siege

Trump Effect Goes International: IMF Says Global Economic Growth To Spike Thanks To Trump Tax Bill

The Trump effect has gone international. The recent tax reform package has yielded immense dividends to the American economy and millions of working and middle class families. Over 150 companies have issued bonuses, increased employee investments, and announced they would boost philanthropic giving. Over two million workers have received bonuses thanks to Trump’s tax bill. 

Apple is repatriating hundreds of billions in overseas cash now that the rates have been lowered. Some $200-250 billion will now be coming back to the U.S., which is part of the tech giant’s $350 billion investment over a five-year period. It will create 20,000 new jobs in the process. For years Apple had wanted to repatriate the money, but the current tax rates made that an insane move. Now, they’re paying $38 billion in taxes to repatriate the cash. They’re not the only ones. More tech companies plan to bring their cash from overseas. In all, $300-400 billion is expected to be repatriated, with Apple representing about half of the assets. Now, the International Monetary Fund predicts global economic growth is expected to grow thanks to the Republican tax reform effort (via Bloomberg) [emphasis mine]:

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest.

The fund raised its forecast for world expansion to 3.9 percent this year and next, up 0.2 percentage point both years from its projection in October. That would be the fastest rate since 2011, when the world was bouncing back from the financial crisis.

Yeah, remember when liberals said Trump would crash the markets—wrong. The Dow Jones has blown past 26,000. And it had a 5,000-point surge in 2017, the largest annual gain in its history. 

Join the conversation as a VIP Member


Trending on Townhall Video