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Biden’s corporate tax hike no one should complain about is being complained about

The US Tax Foundations highlight:
  • An increase in the federal corporate tax rate to 28 percent would raise the U.S. federal-state combined tax rate to 32.34 percent, higher than every country in the OECD, the G7, and all our major trade partners and competitors including China. This would harm U.S. economic competitiveness and diminish our role in the world.
Bolding mine. Not that I’m complaining, K?
😉
Don’t expect this hike to sail its way through Congress, Biden will have a fight on his hands.

A UN report says North Korea can likely arm its intercontinental ballistic missiles with nuclear warheads

A United Nations panel that reports to the U.N. Security Council with the worrying, and unsurprising news:

  • “It is highly likely that a nuclear device can be mounted on the intercontinental ballistic missiles, and it is also likely that a nuclear device can be mounted on the medium-range ballistic missiles and short-range ballistic missiles” 
Weapons development has proceeded in leaps and bounds during the relaxation US pressure in the previous administration.
Nikkei has more here (may be gated)
A United Nations panel that reports to the U.N. Security Council with the worrying, and unsurprising news:

US President Biden says infrastructure contracts only going to US firms

Taking the opportunity to reinforce the new wave of (economic) nationalism in the US.
  • Buy American , build American, American jobs
  • Not a contract will go out that I control that will not go to a company that is an American company with American products all the way down the line

US President Biden says no one should complain about a 28% corporate tax rate

That’s right, just relocate.

B says he will significantly ramp up IRS enforcement of taxes

US Indices close mixed to end the 1st quarter

Dow industrial average has the strongest gain in Q1

The US stocks are closing mixed to end the 1st quarter. The NASDAQ index outperforms. The Dow industrial average fell modestly.

  • For the quarter, the Dow industrial average had the best performance. The NASDAQ was the laggard.
  • The Dow industrial average found sellers at the quarter end and closes at session lows
  • The Dow and S&P have the best month since November.
  • Nasdaq posts the 5th straight monthly gain
  • Nasdaq had its best day in 3 weeks
The final numbers are showing:
  • S&P up 14.41 points or 0.36% at 3972.90
  • Nasdaq up 201.47 or 1.54% at 13246.87
  • Dow fell -85.41 points or -0.26% at 32981.55
For the month:
  • Dow rose 6.62%
  • S&P rose 4.24%
  • Nasdaq rose 0.41%
For the 1st Quarter:
  • Dow rose 7.76%
  • S&P rose 5.77%
  • Nasdaq rose 2.78%