Larry Kudlow has written an article on the economy, stock market, and the coming elections. The article can be found on Real Clear Politics and it is well worth the time to read. Kudlow discusses recent economic data, possible trade and currency wars, as well as monetary policy.
To read the Real Clear Politics article, please click here:
http://www.realclearpolitics.com/articles/2010/10/09/jobs_tepid_dems_out_stocks_up_107507.html
James Sutliff
The estate tax is at 0% until the end of 2010 and that is creating a great deal of estate planning activity. Unless Congress takes action the tax will rise to 55% in 2011. Senators Kyl and Lincoln have proposed a plan that would exempt $10 million from the estate and have a tax rate of 45%.
To read a related Bloomberg article, please click here:
Jim Sutliff
The financial reform bill is likely to be changed significantly when Congress returns next year. Republicans are expected to gain seats in the House and Senate and could gain control of both chambers. Republicans will need 51 Senators to have control of the Senate because Vice President Biden would have the deciding vote in a 50-50 tie. Currently, Republicans are within striking distance of having 53 Senators in the next session. Senator Shelby has made indications that several changes to Dodd-Frank will occur if the Republicans take control of the Senate. Republicans could also cut off spending to prevent portions of the bill from being implemented.
To read a related Reuters article, please click here:
http://www.reuters.com/article/idUSTRE6953NN20101006
James Sutliff
The battle for the U.S. Senate now has Wisconsin on the front lines. Recent polling data on Real Clear Politics indicates that Democrat Russ Feingold is behind by almost 10 points to his Republican challenger Ron Johnson. The fall of the Feingold seat could shift the balance of the Senate. Republicans were close to gaining control without the Feingold seat which seemed to be a Democratic lock. The recent wave of support for GOP candidates has put the Wisconsin, West Virginia, and Connecticut seats in play this year. The possibility of a Feingold defeat has set off a flurry of fundraising for Feingold by Democratic leaning groups.
To read a related article on The Washington Wire, please click here:
http://blogs.wsj.com/washwire/2010/10/01/polls-set-off-funding-sirens-for-feingold/
Jim Sutliff
Rahm Emanuel is expected to step down as White House chief of staff this Friday. The Wall Street Journal has reported that Emanuel will run for mayor of Chicago. Chicago mayor Richard Daley has already announced that he will not run for another term.
To read the Wall Street Journal Breaking News article, please click here:
Jim Sutliff
The House is attempting to pass legislation directed at the Chinese Yuan. The goal is to persuade China to allow their currency to increase in value. The legislation would consider the undervalued Yuan a subsidy and allow for extra duties to be placed on Chinese goods.
To read a related Reuters article, please click here:
http://www.reuters.com/article/idUSTRE68S0NJ20100929
James Sutliff
Suburban voters are an important swing vote and a measure of party strength. Republicans are poised to pick up Congressional seats in the midterm election and suburban voters are one of the reasons. Democrats won Congressional seats in suburban districts in 2008 and many of those seats are likely to return to the Republicans in 2010. The Pennsylvania seat held by Democrat Patrick Murphy is a good example of the uphill battles that some incumbents are facing this year.
To read a related Bloomberg article, please click here:
Jim Sutliff
The Democrats have postponed a vote on the Bush era tax cuts until after the election. Democrats expect to have the votes to pass the Obama tax plan which lets some of the Bush tax cuts expire. There is a likelihood that Republicans will make significant gains in both the House and Senate this November. Therefore, the chances of the Obama ptax plan passing is not that strong.
To read a related Bloomberg article, please click here:
James Sutliff
The last four years of economic policies from the Democratic Congress are a subjest of an article in the Wall Street Journal. The Opinion Journal article discusses the Democrats retreat on tax policy as they close in on the elections. Republicans are expected to have a strong showing at the polls this November.
To read the Opinion Jounal article, please click here:
Jim Sutliff
High earners will get slammed with even more taxes under the Obama tax plan. High income New York City residents will be the most taxed in America if the tax increases are allowed to take effect. The Tax Foundation reported that the highest tax rate in NYC would rise to 50.8 % when state, local, and federal taxes are taken into account.
To read a related Bloomberg article, please click here:
James Sutliff
The possibility of Republican victories in California races continue to grow stronger every week. Carly Fiorina and Meg Whitman are attempting to win the U.S. Senate and Gubernatorial elections this November. Fiorina is the former CEO of Hewlett Packard and Witman is the former Ceo of eBay. Fiorina will face three term Democratic Senator Barbara Boxer and Whitman will face former Governor Jerry Brown. Whitman has already spent more than $100 million on the race.
To read a related Time article, please click here:
http://www.time.com/time/specials/packages/article/0,28804,2019138_2019132_2020303,00.html
Jim Sutliff
Lisa Murkowski has announced that she will attempt to win the Senate seat with a write-in campaign. Murkowski lost the Republican line to Joe Miller in a close primary election. The only Senator in history to win office with a write-in campaign was Strom Thurmond in 1954.
To read a related Bloomberg article, please click here:
James Sutliff
The National Republican Congressional Committee is making changes to their TV ad buy strategy. The 10th Congressional district in Pennsylvania is one of the seats targeted by the NRCC with $595,000 of TV ads through October. The seat is represented by Democrat Chris Carney and the Democratic Congressional Campaign committee has decided to lower their ad buys in the district.
To read a related Roll Call article, please click here:
http://www.rollcall.com/news/49905-1.html
Jim Sutliff
Christine O’Donnell has won the Delaware Republican primary over Mike Castle. This is a major victory for O’Donnell and the Tea Party movement that backed her candidacy. O’Donnell was endorsed by Sarah Palin and Senator Jim Demint. Christine O’Donnell will face Democrat Chris Coons in the November election.
To view the election results, please click here:
http://www.delawareonline.com/article/20100914/NEWS02/100914046
James Sutliff
Republican John Boehner has indicated that he will vote to support a tax cut that does not include incomes at or above $250,000 per year. This move is likely to break a stalemate over the extension of tax cuts for all Americans. The upcoming November elections are likely to put pressure on most officials to support some level of tax cuts.
To read a related Bloomberg article, please click here:
Jim Sutliff
