From the fox studios in new york city, this is Maria Bartiromo ifs wall street. . Maria and happy weekend to bidg hes rescuing the middle class with his new budget and tax plan. I see a future ahead. Maria 64 of taxes are too high, up 9 from 2019. And bidens new tax plan could actually cost the economy nearly 800,000 jobs and shave more than 2 off of economic output. 5. 5 trillion in new taxes propose. Can the u. S. Afford another 4 years of bidenomics . If joining me now is the Bahnsen Group manging director David Bahnsen and former council of economic advisers chairman kevin hassett. Gentlemen, thank you so much tae before maria theres also a possibility that there will be no rate cuts at all. Your reaction. Yeah. Neil likes to get that attention. I will say this, you started off the year with the market believing there were going to be six rate cuts this year, its down to three. We started the year believing it would start in march, the market now believes itll start in june and jul
From the fox studios in new york city, this is Maria Bartiromo ifs wall street. . Maria and happy weekend to bidg hes rescuing the middle class with his new budget and tax plan. I see a future ahead. Maria 64 of taxes are too high, up 9 from 2019. And bidens new tax plan could actually cost the economy nearly 800,000 jobs and shave more than 2 off of economic output. 5. 5 trillion in new taxes propose. Can the u. S. Afford another 4 years of bidenomics . If joining me now is the Bahnsen Group manging director David Bahnsen and former council of economic advisers chairman kevin hassett. Gentlemen, thank you so much tae before maria theres also a possibility that there will be no rate cuts at all. Your reaction. Yeah. Neil likes to get that attention. I will say this, you started off the year with the market believing there were going to be six rate cuts this year, its down to three. We started the year believing it would start in march, the market now believes itll start in june and jul
From the fox studios in new york city, this is Maria Bartiromo ifs wall street. . Maria and happy weekend to bidg hes rescuing the middle class with his new budget and tax plan. I see a future ahead. Maria 64 of taxes are too high, up 9 from 2019. And bidens new tax plan could actually cost the economy nearly 800,000 jobs and shave more than 2 off of economic output. 5. 5 trillion in new taxes propose. Can the u. S. Afford another 4 years of bidenomics . If joining me now is the Bahnsen Group manging director David Bahnsen and former council of economic advisers chairman kevin hassett. Gentlemen, thank you so much tae before maria theres also a possibility that there will be no rate cuts at all. Your reaction. Yeah. Neil likes to get that attention. I will say this, you started off the year with the market believing there were going to be six rate cuts this year, its down to three. We started the year believing it would start in march, the market now believes itll start in june and jul
When the jct, the joint committee on taxation, released a dynamic estimate of how much growth they expect this tax plan to generate. And its a lot less than republicans were hoping for. The jct estimating the tax plan would generate 407 billion in additional revenue over the next decade and that is not enough to cover the 1. 4 trillion cost of this tax plan. The Senate Finance committee putting out a statement saying that this analysis is curious and deserves further scrutiny and they emphasized that the final version of the tax bill is not yet complete it is still being hammered out on the senate floor. Another important thing to note is that the jct assumed a very aggressive response by the Federal Reserve to a strengthening economy. That is also very different from what we have been hearing from jay powell and janet yellen over the next few days. So even if you discount that, however, there is no way, according to the jcts analysis, that the republican tax plan will pay for itself.
Good monday morning. Welcome to squawk alley here with me at post 9, michelle carusocabrera, mike santoli carl and sara have the morning off. First up, bitcoin open for trading yesterday on an exchange run by the cboe. Heavy traffic causing outages on the cboe website, while the exchange also halted trading temporarily due to extreme volatility what to expect from Bitcoin Futures after what a wild week for that Digital Currency. A lot of people thought once this opened up were going to see it fall because people would be shorting it, but thats not stopped the rise it hasnt happened, but its only been a few hours, so lets see what happens take a look where we are, its important to point out were trading at a nice premium to the underlying spot price here 18,000 now over that cash price is 16,700, its been fluctuating, but you have a good 1,200 premium or so this is whats called the cost of money, the carry, thats tying up money for a month, so its usually a bit of a premium. Whether tha