Corporate tax reform

Breaking bad, Wall Street edition

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The markets are tanking — the S&P 500 is down 8% in last two months alone — as investors brace for bumpy, if not bad, times ahead.

The big thing: The simple fact that this record period of growth will undoubtedly come to an end, in America and globally. A closely watched bond-market bellwether is this close to flashing a recession signal, Axios' Felix Salmon writes.

Warning sign for GOP: Tax cuts are increasingly unpopular

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There is now a 12-point gap in support for the GOP tax law, according to a new pre-election poll conducted by Greenberg Research and Democracy Corps for the American Federation of Teachers.

The big picture: It's another alarm bell that Republicans may not be able to win the midterm elections on what they hoped would be their signature legislation of this Congress. In September, a Republican National Committee survey showed more than 60% of voters believe the GOP tax law benefits "large corporations and rich Americans" over "middle class families."

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