The S&P/ASX 200 Index broke through 6,000 for the first time since before the GFC with the S&P/ASX 200 Accumulation Index (which included dividends) returning 11.8% for the year partly due to commodity price rises. The Republican-led US Senate and the House of Representatives have approved Trump’s tax cuts, saying it will provide “real tax relief” for most Americans. The package will cost US$1.5 trillion and push national debt higher. “By cutting taxes and reforming the broken system, we are now pouring rocket fuel into the engine of our economy,” Mr Trump said in a statement after the vote. The bill will provide tax relief for most Americans and boost economic growth. The corporate income tax rate will be cut to 21% from 35%. The top tax rate for individuals will fall to 37% from 39.6%. The big 4 Australian banks are blocking cryptocurrency transactions and freezing accounts. Customers are claiming that the banks are blocking transfers to CoinJar, Coinbase, CoinSpot, and BTC Markets. Owing to the Royal Banking Commission and CBA’s recent AUSTRAC investigation, the banks are treading cautiously. Their explanation for block transactions is to prevent fraud or money laundering by account users using Bitcoins or similar virtual currencies as a payment service. The world’s wealthiest became $US1 trillion richer. Jeff Bezos has…

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