FAIRTAX FRIDAY AND CHAIRMAN'S REPORT

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Chairman's Report - June 8, 2018

In the movie, All The President’s Men, Hal Holbrook was playing “Deep Throat” and famously said, “Follow the Money.” Interestingly enough this was not in the Woodward and Bernstein book but added by the screenplay writer.

20180608 - Fairtax Friday & Chairman's Report

Thanks to GOP Tax Cuts, Utilities Are Lowering Rates

Thanks to the tax cuts passed by the Republican House and Senate and signed by President Donald Trump, at least 101 utilities across the country are lowering rates for customers, according to a report from Americans for Tax Reform. This means lower electric bills, lower gas bills, and lower water bills for Americans. READ MORE

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Wall Street Journal

Storm Clouds Gather Over the Fed

The Federal Reserve’s plan for accelerating the pace of monetary policy-tightening might be running into some trouble...

Zero Hedge

Savings Rate Tumbles Back Near Record Lows As Americans Spend More Than They Make For 28th Month In A Row

While US personal incomes grew, as expected, at 0.3% MoM, Americans resumed spending fare more than they make (increasing 0.6% MoM in April). For the 28th month in a row, YoY growth in spending has outpaced incomes, sending the savings rate back down to just 2.8, the lowest since the debt-funded holiday spending spree of December 2017, and just shy of record lows.

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