What truly upset was the amount of wealth destroyed merely by political talk, even when that talk did not lead to action. This chapter explains that wealth destruction is the Congressional Effect. It is empirically demonstrated in the aggregate by looking at how the stock market is affected on...
Estate taxes andinheritance taxesare often discussed together, but they are different: Inheritance tax is paid by a beneficiary, while estate tax is paid out of the deceased's estate before any remaining money, property or other assets are distributed. If you're the executor of an estate, you...
Congress has never lowered the debt limit. Because congressional debates about the debt ceiling are often mundane, investors don't usually see an immediate effect from the process. There are some notable exceptions, however. Take, for example, investors' cliffhanger experience in 2011, when ...
the alternate slates of electors as being in dispute, and ultimately hand the election to Trump in the alleged plot. However, Pence rejected the pressure to do so, sticking to his strictly ceremonial role, and the National Archives never accepted the uncertified documents for congressional ...
The Justice Department has no power to stop this. It’s entirely up to Congress. However, these days, lawmakers tread into the immunity arena with trepidation. In the 1980s, grants of congressional immunity to Oliver North and John Poindexter wound up ruining the Justice Department’s efforts ...
In 2007, the Congressional Budget Office (CBO) reported two options to the Budget Committee of the House of Representatives. The first was to increase personal savings without tax incentives. A higher domestic savings rate would supply the necessary capital without borrowing overseas. One good way ...
Congressional Democrats pivoted to Project 2025 when asked in interviews about Mr. Biden's fitness for a second term following his lackluster showing at the June 27 debate against Trump. Mr. Bidenannounced his withdrawalfrom the race for the White House weeks after the debate as the swell of ...
The Bottom Line The national debt is commonly apolitically charged issue, especially when the amount outstanding nears the congressionally mandateddebt ceiling. Politicians and financial markets must confront the possibility of a devastating U.S. debt default if the ceiling isn't raised. ...
Up until World War I, the Executive Branch needed Congressional approval every time it wanted to borrow money. Congress would determine the number of securities that could be issued, theirmaturity date, and the interest that would be paid on them. With the SecondLiberty BondAct of 1917, howeve...
Over the past decades, the U.S. has run a budget deficit, meaning that it spends more than it receives in revenue. The federal budget is often politicized by both sides of the Congressional aisle. Understanding the Federal Budget Expenses listed in the budget are classified as either mandatory...