When Senator Blunt rises from the darkest and deepest part of the swamp to talk about senate Tax legislation (always written by the biggest K-St donors) you know the sausage is rotten.  Decepticon Blunt is only visible when the little people are conscripted to wash the cigar residue from the Senate’s Corinthian leather.
Senators: Blunt, Cornyn, McConnell, Hatch, Portman, Thune, McCain, Cochran, Murkowski, Graham and Corker will NEVER allow the income tax position of common-folk to supersede their corporate porkulous-minded financial interests.
CTH needed to be patient to see the architecture, and see if they retained their traditional approach at swamp constructs,… Now it’s visible, I can guarantee you this bill is destined to fail.  Maria Bartiromo knows it… she knows, and she’s playing the game; but you can see it behind her eyes… she knows.

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Accepting that Donald Trump has exceptionally keen instincts, he had to know -in advance- where this was headed. The only purpose this bill serves is ammunition within the ‘big ugly’ to showcase, yet again, the corruption and ineptitude of the GOPe wing of the UniParty and how they are mere salespeople for their financiers on Wall Street/K-Street.
Forget tax reform; like the budget and O-care, it’s a moot point to discuss now.
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All leading economic forecasters said it would be impossible for President Trump’s MAGAnomic plans to generate 3% GDP growth in the first year.  President Obama said it was impossible and Trump would need a “magic wand, or something“.
Well, three months after taking office (April-June), it was Quarter 2, and the U.S. GDP began growing over three percent.  Again in Quarter 3 (July-Sept), the same benchmark was exceeded. And now Q4 (Oct-Dec) the New York Fed says, yes, GDP growth is 3.2%.

NEW YORK (Reuters) – The New York Federal Reserve on Friday kept its view on U.S. gross domestic product growth for the fourth quarter near 3.2 percent given the dearth of economic data this week. (link)

Remember, these are forecasts within the current quarter.  CTH is specifically predicting the actual result will be much, much higher. With consumer confidence at the highest rate ever recorded (link); combined with MAGAnomics pushing down the cost of living and increasing disposable income (link); combined with wages rising (link); combined with early indicators that consumer spending this holiday season will be the biggest ever (link) and (link) and (link)….
Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to their first opportunity to see capitalism unchained; we are in uncharted MAGA territory now.  Q4 will be well beyond 3.2%…  Well Beyond.
Believe Me.
Bigly.
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Earlier today President Trump met with Republican leadership and representative from the House Ways and Means Committee.   The overarching backdrop is the tax reform proposal [Full Plan Outline HERE], and there is a MASSIVE group of lobbyists aligned to eliminate the threat to their carve-outs within the proposed tax plan.
The UniParty is against President Trump.  The UniParty is against “America-First”. The UniParty is against MAGAnomics.  The UniParty supports lobbyists and the financial indulgences provided by K-Street to build their affluence.
One of the more common maneuvers for the UniParty to eliminate the threat from President Trump is to create a toxic legislative product that holds no hope of passage (See ObamaCare replacement).  Be wary of this strategy, it’s obviously in play.

[Transcript] 1:56 P.M. EDT – THE PRESIDENT: Well, thank you very much. I’d like to thank the Republican members of the House Ways and Means Committee who are here today to discuss the incredible plan to cut taxes. Now, it’s reform and it’s lots of other things, but we’re cutting taxes. It’ll be the biggest tax cut in our history.
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Robert Mercer the multi-billionaire hedge fund co-chief of Renaissance Technologies; owner of Breitbart media; previous backer of Ted Cruz and currently reformed supporter of President Trump is making significant moves.
The overarching direction of the repositioning appears to be common sense. The end result, at least from a 30,000 ft level, positions Mercer toward the pragmatic MAGA Trump movement (CTH perspective) and politely distanced from the gnats and Bannon Bros.

Mr. Mercer sent a letter to his hedge fund principles (investors and pension advisers) notifying them of his stepping down from Renaissance Tech, including the board of directors, though he will remain deeply involved in the research and analytics side of the operation.
Additionally, Mercer appears to have caught-on to the general direction where the gnat swarm was/is headed and is now distancing himself from the nuttery side of right-minded political engagement.  Mercer is shifting controlling ownership of Breitbart media to his two daughters.  This is good news for team common sense and bad news for the hungry gnats.
In a very rare statement attributed directly to Mr. Mercer, he explains his perspectives on Steve Bannon and how despite the general agreement on intent, the methods and approach by Bannon is not always in alignment with Mercer’s own outlooks on politics.
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Earlier today President Donald Trump held a meeting with Treasury Secretary Mnuchin and all participants in the tax reform proposal.
Interestingly, and in a typically Trump power play dynamic, POTUS Trump invited U.S. Chamber of Commerce President Tom Donohue to the meeting and after finishing his prepared remarks put Donohue directly in the spotlight (Video 04:00).  The U.S. CoC is the biggest lobbyist for globalist economics. Donohue is essentially MAGA enemy #1.
You might remember Tom Donohue specifically targeting President Trump for personal criticism in the last round of NAFTA negotiations.  POTUS Trump positioned Donohue physically directly across from him at the table and it was obvious President Trump was planning to put Donohue on the spot.  The look on Gary Cohn’s face is priceless.

[Transcript] 11:41 A.M. EDT – THE PRESIDENT: Thank you very much for being here, for the incredible work you’re doing to help us pass the really historic tax cuts. There’s never been anything like this in the history of our country. It’s cuts and it’s relief and it’s also reform. And frankly, it’s also simplification. So we’re covering everything.
There has never been anything like it, and it’s so important. The economy is doing very well but it can do much better. A lot of jobs are going to come from this and a lot of companies are going to start pouring back into the United States. In fact, we’re going to be announcing one big one sometime very shortly — a very big one coming back into the United States.
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The U.S. Conference Board is an economic think tank in partnership with Nielsen surveys which provides predictive economic analysis based on consumer and economic surveys within the larger U.S. economy.  The latest monthly report from the board shows a stratospheric level of consumer confidence, 125.9 the highest level since 2000.
Accordingly, “consumers were even more optimistic in October than economists polled by Reuters expected.”  The media and economic teams who thrill at the possibility of being able to talk-down the U.S. economy are apoplectic…

(Reuters) U.S. consumer confidence jumped to a near 17-year high in October, with households upbeat about the labor market and business conditions, which could underpin consumer spending and boost the economy in the final three months of the year.
The economy’s prospects were further bolstered by other reports on Tuesday showing an acceleration in wage growth in the third quarter and sustained increases in house prices in August.  (read more)

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There’s essentially five candidates being discussed for Federal Reserve Chair: •Stanford University economist, John Taylor; •current Chair, Janet Yellen; •economic adviser, Gary Cohn; •former Fed Governor, Kevin Warsh; and the most likely pick •Federal Reserve Governor Jerome Powell.
More than likely two candidates from this group of five will be selected; one for Federal Reserve Chair and one for the currently open Vice-Chair.  WATCH:

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MAGAnomics is a generally common sense approach toward achieving dynamic growth in the U.S. economy.  Left-leaning economic experts (most of them) are gnashing their teeth as the America-First MAGAnomic principles are paying YUGE initial dividends.
Reuters News is forced to painfully publish the positive numbers; yet they talk down the economy despite the reality.  Again, using the Reuters information we’ll dig into the economic news, and deconstruct their dismissive ideologically-driven narrative.

WASHINGTON (Reuters) – The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.

♦First, “unexpectedly”. Yeah, it’s always ‘unexpected’ when the results run counter to the preferred outcome.  Notice, “inventory investment”, that’s parseltongue verbiage to describe manufacturing and production infrastructure investment.  It’s not just “inventory” as in “unsold products”, what’s happening is companies are investing in growth and building out production capacity.  The “inventory” is actually equipment (being purchased) and operational infrastructure (being built), two measured GDP values.
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The ongoing IRS leadership issue(s) will be interesting to watch unfold in the future; especially for those who have followed the Treasury Dept. case against Robert Mercer, now a supporter of President Trump, and how the self-interest unfolded in the 2016 election.

President Donald J. Trump Announces Intent to Designate David Kautter to the Internal Revenue Service – David Kautter of Virginia to be the Acting Commissioner of Internal Revenue. This designation will become effective on November 13, 2017. Mr. Kautter was confirmed on August 3, 2017, to be the Assistant Secretary of the Treasury, Tax Policy. (White House Link)

(Via Fox News) The White House has named a Treasury official to succeed John Koskinen at the helm of the IRS next month, while allowing the controversial commissioner to finish out his five-year term.
David Kautter will serve as acting IRS commissioner beginning Nov. 13, the last day of Koskinen’s term, the White House said.
“Assistant Secretary Kautter has had an illustrious 40-year career in tax policy, and I am confident that the IRS and the American people will benefit from his experience and insight,” Treasury Secretary Steven Mnuchin said in a statement, noting the Senate would still have to confirm a permanent commissioner.
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Office of Managements and Budget (OMB) Director Mick Mulvaney appears on Fox News Sunday to discuss the ongoing tax reform plan with princess Bush-Perino.

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OMB Director Mulvaney also appeared on CBS Face The Nation (see below).
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