On a day when the markets first rose and then dipped after the latest (yawn, ignorable) impeachment concern spooked numbers of investors, we’ll look instead at the new plan from 2020 Democratic presidential hopeful Senator Bernie Sanders (VT-I). He is now proposing an even stiffer ‘wealth tax on the super-rich’ then Senator Elizabeth Warren has. Tonight will not only present insights on their plans, it is among the reasons why fact-checks, left-right analysis, and the principle of wheat and chaff are useful. Because often various media catch some point or fact that the others don’t. That’s why we curate across the left-right media divide.
Regular readers please note there are several tweaks and changes in some of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business.
- WeWork CEO steps down
- Amid the company’s disastrous IPO attempt, its top executive is stepping down
- Dow drops after Trump’s UN speech on trade
- The trade war keeps weighing on consumer confidence. And that’s a risk for the US economy
- Top US energy regulator agonizes over coal’s downfall
- Canceled China trade trip appears to surprise Trump
- Anthony Scaramucci is worried about the trade war
- Gmail dark mode begins rolling out to users
- Kik shuts down once popular messaging app
- Microsoft sends another warning: Update Windows now to fix critical security issues
- ‘Fleabag’ star Phoebe Waller-Bridge signs overall deal with Amazon
- Showtime throws Vice a lifeline
- The Awesome Burger is Nestlé’s answer to the plant-based meat craze
- Trump’s attacks on the Fed are moving markets, study shows
- Netflix’s stock is taking a beating as competitors multiply
- How to write the perfect resignation
- The job market is so good, new hires aren’t showing up for their first day of work
- Amazon is hiring 30,000 workers. Here’s how to find out more
- Burnout is a big deal. Here’s how managers can spot it
- Why you should be interviewing even if you aren’t looking
- Marshalls opens its first online store
- SPECIAL REPORT How a cheap, brutally efficient grocery chain is upending America’s supermarkets
- Americans love Target. That’s bad news for Macy’s and JCPenney
- Kohl’s struggles to escape department store woes
- Dollar stores are everywhere. That’s a problem for poor Americans
Headlines from right-of-center Fox Business.
- HOW THE ULTRA-WEALTHY ARE PREPARING FOR A RECESSION
- WATCH LIVE: UN General Assembly in session
- Trump condemns Iran’s ‘bloodlust’ in UN speech attack
- Trump bashes China for ‘gaming the system’
- Watch: Biden says charges against him are ‘baseless and untrue’
- Antonio Brown now being sued over trashed condo
- Nissan recalls 1.3 million vehicles: What drivers need to know
- WeWork CEO Adam Neumann resigns
- Elizabeth Warren’s tax plan could incentivize certain people to divorce
- FCC accuses Sprint of taking improper subsidies for Lifeline subscribers
- WHY VETERINARIAN SUICIDES CONTINUE TO SPIKE
- Veterinarians in the U.S. are committing suicide at higher rates than the general population, a trend building for decades.
- Disney not quite the ‘happiest place on Earth’
- Prisoner reveals possible twist in ‘Making a Murderer’ slaying
- GM wins a skirmish with striking auto workers
- Nio, the Tesla of China, crashes after saying it needs $200M
- ‘Stairway to Heaven’ takes Led Zeppelin back to courtroom purgatory
- Is America’s $23 trillion national debt a problem?
- Patriots’ Tom Brady claims lack of control over team’s Antonio Brown signing, quick release
- Bernie Sanders unveils new wealth tax plan: ‘Billionaires should not exist’
- More US workers to qualify for overtime pay
- President of Colombia: Trade deal signed with US in 2012 has been ‘very important’
- Colombian President Ivan Duque says he sees the relationship with the U.S. as one of trade and investment.
- SoFi receives naming rights for new Rams, Chargers stadium in Los Angeles
- FOX Business’ Robert Gray reports about SoFi receiving naming rights for the new Chargers and Rams stadium in Los Angeles.
- Trump speaks on Iran and US economy at UN General Assembly
- President Donald Trump takes reporter questions on the U.S. economy and Iran after meeting with Singapore Prime Minister Lee Hsien Loong in New York City during the United Nations General Assembly.
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Tonight’s Business/Market/Political Impact Spotlight –
Facts are often nettlesome things. Knowing economic principles may be disturbing to those who want to live in a fact-free zone. Recalling what the late President John F. ‘Jack’ Kennedy said about taxation is timely today.
CNN’s John Avlon takes a closer look at Sen. Elizabeth Warren’s (D-MA) proposed “wealth tax” and how it could affect millionaires and billionaires. While one might quibble with an occasion dig here or there, the facts and historic context in this makes this a useful video for those interested or concerned in this topic.
It should be noted that the CNN video rightly makes the constitutionality of the plan questionable. It also points out how such plans have routinely not worked.
That ironically tees up the video interview earlier today nicely on Fox Business’ interview with an author on this same topic.
Bernie Sanders unveils new wealth tax plan: ‘Billionaires should not exist.’
Under the plan, per Fox Business’ report, the Sanders campaign said it would levy these taxes on married couples:
- 1 percent on married couples with a net worth above $32 million (meaning a couple worth $32.5 million would pay $5,000 annually in taxes)
- 2 percent on those worth $50 million to $250 million
- 3 percent on $250 million to $500 million
- 4 percent on $500 million to $1 billion
- 5 percent on $1 billion to $2.5 billion
- 6 percent from $2.5 billion to $5 billion
- 7 percent from $5 billion to $10 billion
- 8 percent on wealth over $10 billion
- For individuals, all of the brackets would be cut in half
By comparison, Warren proposed a 2 percent tax on individuals with a net worth above $50 million and a 3 percent tax on those with more than $1 billion in assets. Warren’s campaign said the tax — intended to combat rising income inequality — would apply to less than 0.1 percent of the population, or roughly 75,000 families, while Sanders’ campaign said his tax would impact 180,000 families.
Fox Business also raised the potential that these plans are unconstitutional. Which begs the question, if this hasn’t worked in Europe, why are Warren and Sanders competing with who will threaten to tax the rich the most?
That’s the key, the word ‘threat.’ This may sound good, it may get a left-leaning voters riled up and excited, but it unlikely to pass, as CNN mentioned, and if passed it would not likely work, save to drive capital flight and thus harm the U.S. economy.
There will be a special report planned for tomorrow about a 2020 Democratic candidate that is manufactured housing specific. Watch for it.
Exclusive – Senator Elizabeth Warren’s Historic Optics Tied to Fundraising ‘Oops,’ plus Manufactured Home Investment Updates
MarketWatch, CNBC – Billionaire Investor Says – If Warren, Sanders Win, ‘Markets Won’t Open,’ ‘Bear Market Ahead,’ plus Manufactured Housing Investment Updates
Forget Moaning About Rates, Focus on Antitrust Actions, plus Manufactured Home Investing, Stock Updates
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Updated for Fall 2019…
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses.
For insights from third-parties and clients about our publisher, click here.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
“We Provide, You Decide.” © ## (News, analysis and commentary.)
(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)
Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.