TRUMP'S TAX PLAN IS WORKING – AT 12:47 P.M. ET:   Like him or not, and I've had mixed feelings, President Trump's tax plan is clearly taking effect.  It has, for one, changed the national psychology of the country, which is one of the main building blocks of a strong economy.  From the great Michael Goodwin at the New York Post: 

Not that they needed one, but progressive wing nuts and their fellow travelers are getting another reason to hate President Trump. He’s proving that capitalism works.

The president’s policies of cutting high taxes and excessive regulations are sparking a stock market surge and soaring economic confidence.

Each day brings announcements from companies ranging from Apple to Walmart that they are giving bonuses and pay hikes, adding new jobs and increasing their investments in America.

Millions of workers will get the bonuses, most of which are for $1,000, and untold others will get new or higher-paying jobs.

Most of those workers also will see their take-home pay increase because they will get personal income tax cuts and a doubling of the standard deduction. Those changes will become apparent in a week or so when the new lower rates are applied to payrolls.

The cash-in-the-pocket benefits are great news to many families, but the boom is doing something else too: It’s giving the millennials a firsthand lesson in economics.

Following eight slow-growth years under President Barack Obama and an election where their favorite candidate, Bernie Sanders, railed against the wealthy and promised free stuff for everybody else, many young Americans were taught that socialism is their friend and capitalism their enemy.

Now they are getting proof that the opposite is true. They are eyewitnesses as capitalism provides more opportunities and financial security to more people than any other system.

COMMENT:  The millennials are an embarrassment.  But right behind them is a new generation, born after the 9-11 attacks, and showing signs of wanting to participate in this nation, rather than disparage it.  That is informed speculation.  One authority I trust says that we should, by next year, on college campuses, know whether this new generation will be a welcome relief from the spoiled-brat millennials.  There are some good signs, but the power of Marxist professors should not be underestimated.  As Sinatra might have said, leave us we should pray.

January 28, 2018