Forget about chopping the corporate tax rate for now. Does anybody but me remember the chart on effective tax rates for domestic nonfinancial corporations? Reflation is a comforting concept, but mainly we're there now in terms of a mid-20s effective tax rate. The curve is the curve: Minimal money market rates, 5-year Treasuries yielding under 2%, 10-year paper at 2.4% and the 30-year notes hovering near 3%. Trump wanting to cut corporate tax rates on its face seems acceptable, but nobody but me remembers in the sixties under Jack Kennedy corporate tax rates stood closer to 60%.

Source: Forbes March 22, 2017 18:45 UTC