Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Analysts and economists say there is a semi-imminent doom and gloom coming for stocks and the economy, thanks in part to a diminishing boost from President Trump's tax cuts.
The big question: Is there a "sugar rush" from the tax cuts, and if so, does it matter enough that the market and economy will tank when it wears off?
One camp says don't sweat the chart. Waning influence of tax cuts won't have a disastrous impact on companies' earnings growth, according to recent projections by Nationwide Financial's Mark Hackett:
"Even factoring out the contributions from lower corporate taxes and share buybacks, earnings growth would still be at a healthy rate ... indicating that most earnings strength is not coming from the 'sugar rush' of tax reform."
The other side: JPMorgan says in a recent note that U.S. stocks are riding a "sugar high" thanks to the tax cuts and you should sweat that chart.
- Analysts there say the end of the tax-cut impact will lead to dramatic earnings declines followed by cuts to earnings guidance.
The bottom line: We're not going to know for a while, so for now, pick a side. If you're in the sugar-rush camp, the question is, "When will the economy and markets come down from the high?" If you're not, you're hunting for data points that prove the economy's 10-year expansion is on solid footing, with or without the boost from the tax cuts.