David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

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David Stockman is warning about the Trump administration’s tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.

Stockman, the Reagan administration’s director of the Office of Management and Budget, isn’t stepping away from his thesis that the 8½-year-old rally is in serious danger.

77.5 Million Households Are Not Paying Federal Income Taxes

On Tuesday, The Tax Policy Center, a joint effort by the Urban Institute and the Brookings Institution, said the number of households that don’t pay federal income taxes fell to 45.3 percent. But that figure is still roughly 5 percentage points higher than the center’s 2013 estimate of 40.4 percent.

Honeybees dying, situation ‘unheard of’

If losses continue, they could threaten the viability of the bee pollination industry, US Department of Agriculture says.

Washington: Just last year, it seemed there was something to celebrate despite planet Earth’s ongoing honeybee apocalypse: Bee colony losses were down. Not by enough, but they were down.

“It’s better news than it could have been,” said Dennis vanEngelsdorp​, a University of Maryland entomology professor who led a survey of bee populations that reported a loss of 23 per cent of bee colonies – less than 30 per cent, the average from 2005 to 2013. “It’s not good news.”