Which is why futures are sharply lower this morning.
In light of Virginia ousting the republican “leader”, Eric Cantor, with someone who’d like to convert America into a theocracy, smart people are betting that this is bad news for the GOP. See, there are two types of GOPers. There’s the guy with the American flag, ignorant as hell, shotgun in tow, screaming about illegal Mexicans, terrorists, and how the fucking Christmas tree should be considered a holy symbol. Then there’s the guy at the golf course, checkered pants, cigar in tow, interested in tax cuts, loose regulations and a strong military.
The problem with the GOP is that both of these guys hate each other. The party should split, one could name themselves “The Confederate Tea Party” and the other keep the name “Republican.” Either way, a two party system is certainly better than a one party system, which is what we’re heading for soon–should the GOP continue the path they’re on.
In other news, ANGI caught an upgrade this morning, as well as AAPL and AMZN. A slew of biotech stocks are up and SYNA is doing it big.
Bottom line: Our corporate tax rate is an absolute disgrace. It’s too high and just about everyone I know, both GOP and democrat, agree that it should be competitive with other first world nations. The loss of Cantor in a primary spells doom for the GOPers, as they shift right and away from winning national elections. While many backwater confederate states might want a theocracy, electing men who romanticize over WW2 and bygone eras, the majority of the country just wants to work and live happily ever after. The economy desperately needs some checkered pants republicans to seize control of the party and get these tax rates down. However, as of now, it looks like you’ll be hearing a lot more about Christmas trees and gay marriages instead.If you enjoy the content at iBankCoin, please follow us on Twitter