Will Trump Extend The Tax Cuts If Elected?

Today's video is part three of David's interview with Dave Hall.

They discuss whether Trump will extend the tax cuts if re-elected. 

David cites a recent report from the Committee for a Responsible Federal Budget that says that if they extend the tax cuts, the government will have to borrow $5 trillion to pay for those tax cuts. 

David explains why he doesn't see another tax cut happening without a commensurate reduction in spending. 

David tackles people's assumptions that tax cuts can stimulate enough economic growth to be able to pay for themselves.

Dave and David agree that more people are starting to come to terms with the fact that taxes will go up in the future. 

David explains why individual investors need to be realistic about the types of tax rates they're likely to pay down the road. 

David shares his thoughts on whether the Inflation Reduction Act was successful in bringing inflation down and cutting government spending. 

Why you need to take advantage of historically low tax rates today and protect your retirement before tax rates go up for good. 

David covers the benefits of taking advantage of historically low tax rates while they're still around and why you need to get your savings systematically repositioned to tax-free.

Dave talks about doubling taxes and how they could easily ruin retirements that would have otherwise worked out well.

Politicians are in the business of getting re-elected. That is their number one job. You may think their number one job is to represent you, but their number one job is to get re-elected.

 

 

Mentioned in this episode:

David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code

DavidMcKnight.com

DavidMcKnightBooks.com

PowerOfZero.com (free 3-part video series)

@mcknightandco on Twitter 

@davidcmcknight on Instagram

David McKnight on YouTube

Get David's Tax-free Tool Kit at taxfreetoolkit.com