Counting on Student Loan Forgiveness? Don’t Bet on It

By Bloomberg – Re-Blogged From Newsmax

Nearly half of college students surveyed earlier this year said they expected to be helped by the federal government’s various student loan forgiveness programs. But new government figures suggest that their hoped-for windfall won’t be that generous.

In a first-of-its-kind public analysis, the U.S. Department of the Education projects that borrowers who next year enroll in loan forgiveness programs would, on average, repay every penny they borrowed, and then some. Some debtors in the programs, which cap monthly payments relative to earnings and offer the possibility of debt forgiveness, are projected to pay as much as 76 percent more than they borrowed. The forgiven amount would largely be interest that accrued over what could be as long as 25 years of making payments.

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Steve Forbes: ‘When You Have a Good Economy, a Lot of Sins Are Forgiven’

By F McGuire – Re-Blogged From Newsmax

Steve Forbes, chairman and editor-in-chief of Forbes Media, told Newsmax TV that it is crucial for Republican lawmakers’ survival to quickly forge a tax-cut plan that will benefit all Americans.

If not, the GOP stands to pay a very dear and steep price.

Image: Steve Forbes: 'When You Have a Good Economy, a Lot of Sins Are Forgiven'

“I think Republicans in Congress are beginning to realize that if they don’t get a good growth tax cut through this year, they’re going to be pursuing many of the new opportunities after the elections next year,” Forbes told Sunday’s “The Income Generation Show.”

Republicans Fear for Their Safety as Threats Mount

By Cristina Marcos – Re-Blogged From The Hill

A growing number of House Republicans are facing physical threats from angry constituents in their districts, leading many to fear for their safety.

In the last few weeks alone, the FBI arrested a man threatening Rep. Martha McSally’s (R-Ariz.) life, a woman pursued Rep. David Kustoff (R-Tenn.) in her car, and Rep. Tom Garrett (R-Va.) heightened security at a town hall event in response to death threats.

Other Republicans still holding town halls say they haven’t felt physically threatened by protesters, but they worry about the depth of anger from some constituents in the polarized environment and what it means for political civility.

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America Needs a Debt Cut Before a Tax Cut

By Michael Pento – Re-Blogged From Pento Portfolio Strategies

President Donald Trump has finally unveiled his broad blueprint for tax reform. Well, at least let’s call it a sketchy outline of one. It would take the top income tax rate for small businesses from 35% to 15%. Theoretically, a business that makes $500k in taxable income, which had been paying roughly $175k in Federal taxes, would then pay closer to $75k. This means our business in this example, which saved 100k in Federal taxes, would have to grow its taxable income to $1,166.666, or by 133% to provide the government with revenue neutrality.

Even though Trump’s proposed tax plan offers more questions than answers, what is clear is that the administration is no longer working off the pretense that tax reform will seek revenue neutrality. Instead, it looks like Trump and the Republicans are leaning towards pretending that dynamic scoring of tax cuts will suffice for a revenue neutral plan.

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Americans Spending More on Taxes Than Food, Clothing, and Housing Combined

By Kimberlee Kaye – Re-Blogged From BlabberBuzz

31% of the nation’s earnings are going to fill the tax coffers

April 23rd of this year was Tax Freedom Day, or “the day when the nation as a whole has earned enough money to pay its total tax bill for the year”.

A whopping 31% of the nation’s earnings are confiscated by the government for federal and state taxes for a total of $5.1 trillion. Amazingly, that’s still not enough to pay off state and national deficits.

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Economy Contracting But Expect Higher Stock Prices

By Chris Vermeulen – Re-Blogged From http://www.Gold-Eagle.com

The United States is the world’s largest and most diversified economy! It is currently suffering through a protracted period of slow growth which has held down job creation and labor market participation.  The Pew Research Center reported, in late 2015, that a mere 19% of Americans trust the government either always or most of the time.

The FED must print more money in order to keep the party going forward.

The bottom line is that this current bull market has been driven mostly by corporations which are buying back their shares, over the years. Individual investors have increasingly been moving out of equity mutual funds and into equity ETF’s.

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Gold-Stock Breakouts Near

By Adam Hamilton – Re-Blogged From http://www.Gold-Eagle.com

The gold-mining stocks’ usual volatility has proven outsized so far this year, spooking investors.  A fast initial surge in a new upleg was soon fully reversed by a sharp major correction, which spawned much bearish sentiment.  That combined with the great distraction from the Trumphoria stock-market rally has left gold stocks unloved and overlooked.  But their outlook is very bullish, and major upside breakouts near.

It’s hard to find bargains in today’s extreme stock markets.  They’ve been radically distorted by the post-election euphoria centered on universal hopes for big tax cuts soon.  Nearly every sector has been bid up to dizzying valuations.  Except gold stocks, which everyone still hates.  They may very well be the last remaining contrarian sector in these crazy markets, and thus a great buying opportunity for smart traders.

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