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Spreading the Wealth Trump Style – Get Ready for More Tax Cuts

Spreading the Wealth Trump Style – Get Ready for More Tax Cuts
(Valiantsin Korznikau/Dreamstime)

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Wednesday, 14 March 2018 02:30 PM Current | Bio | Archive

It’s funny how things work. We published this article back on December 29, 2017. Speading the wealth Trump Style: Get Ready for more tax cuts.

People thought we were crazy. I appeared on many radio shows across the country explaining why this was inevitable.

Understand, I’m no proponent of runaway government spending and the headlong rush into national insolvency. But, if the government is going to do it anyway, we as citizens should get to hold onto every last red cent, regardless what it might eventually be worth. And who knows, perhaps the added attention to the deficit will help the Congress to return to fiscal sanity. It’s doubtful, but we always hope for change we can all believe in.

Like clockwork, President Trump raised the prospect of more taxcuts during the Republican Congressional Retreat.

He recently delivered, promising Phase 2. It’s just another example of the media’s inability to comprehend how Trump rolls. He accepted a flawed tax deal, understanding that it would become more popular by the day. And sure enough, according to most polls, the majority of Americans are seeing it his way.

And let us not forget, these are the very same organizations that predicted President Hillary Clinton’s landslide victory. They were stacked then and they’re probably stacked now. Even the New York Times, no fan of the current administration, has grudgingly accepted this obvious fact.

What does this tell us about President Trump’s policies and strategy? He knows that the trend is your friend. An expert reader of political tea leaves, he unerstands that just like your mother gave you seconds of your favorite dessert to make you happy, so too with tax cuts.

Many Democrats who missed out on Phase 1 will have no choice but to go along with Phase 2. It will correct many of Phase 1’s errors. Additional lowering of small business tax rates to bring them into allignment with big business tax rates, perhaps an increase in SALT (state and local tax deductions) to $20,000 per annum and finally, (at least we’re hoping for) a tax exemption on profits from increased industrial export sales.

This could kick off a manufacturing expansion not seen since post WWII. These are just a few. When "Tax Cut Fever" takes over Washington D.C., we all profit. Let’s just not talk about the deficit, after all it’s mostly money we owe ourselves anyway, right?

Kerry Lutz has been a student of Austrian Economics since 1977. While attending Pace University, he stumbled upon an extensive cache of Austrian Economic Literature in a dark, musty, abandoned section of the school’s library. After graduating from The New York Law School, he became an attorney and life long serial entrepreneur. His diverse career has included: running a legal printing company, practicing commercial law and litigation and founding a successful distressed asset investment company.

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When "Tax Cut Fever" takes over Washington D.C., we all profit. Let’s just not talk about the deficit, after all it’s mostly money we owe ourselves anyway, right?
trump, tax, cuts, spread, wealth
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2018-30-14
Wednesday, 14 March 2018 02:30 PM
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