Swamp 2, People 0 – Ep. 310

Swamp 2, People 0 – Ep. 310

Everybody Joins the Party
All 3 of the major U.S stock indexes closed out the week at new record highs as it became apparent that the new tax cut deal was pretty much done. Marco Rubio, who had been a hold-out, caved and even Corker, the one Republican who was going to vote against the bill becase it was going to increase the deficit, decided to join the party as well. He's now a yes, so the bill is going to pass.
Plan Riddled with Loopholes
We didn't get the compromise details until later Friday afternoon so I am recording this podcast Saturday morning. The new top rate: 37%, bottom rate: 10%. But of course, that 37% rate is probably not going to be paid by nearly as many people as the government thinks, because this plan is riddled with loopholes. In fact, I believe, if this plan passes, we will have a tax code that is more game-able where more people are doing more things to rig the system or exploit the loopholes - not that there's anything wrong with that - that's every American is going to do. No American is under obligation to pay more taxes than what is owed. And to the extent that you can re-arrange your affairs, such that you pay the lowest possible tax, that's what everybody is going to do.
Reduced Deficit Projections is Nonsense
And that is why the Republican projections that this is going to add just $1.5 trillion to the deficit over next 10 years are a bunch of nonsense. I'm sure that it will add more than twice as much over the next 10 years above how much the deficit is going to grow anyway during those 10 years. Now, the Republicans try to claim that even though on paper this bill will add $1.5 trillion to the deficit, it won't really be that big, because these tax cuts are going to create all this extra economic growth, which will result in additional tax revenue. So if you factor in that additional revenue, some kind of dynamic scoring, then the impact will not be as large. That is all a bunch of nonsense.







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Episoder(1082)

SchiffRadio Podcast Episode 17

SchiffRadio Podcast Episode 17

Episode 17 Synopsis * Japanese yen fell to 7-year low * A result of Abenomics * Speculation that planned increase of sales will be delayed * price moving with strength of dollar * Chinese Yuan up vs Yen and euro * Next few months may expose Fed's false narrativ Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

12 Nov 201410min

SchiffRadio Podcast Episode 16

SchiffRadio Podcast Episode 16

Episode 16 Synopsis: * Looking under the 5.8% unemployment number headline * Biggest increase was in food service * Labor force participation rate is low * Employment costs are high * Gold & gold stocks rally * European markets encouraged by Mario Draghi's stimulus talk * If the economy disappoints, U.S. may look toward stimulus, too Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

8 Nov 201430min

SchiffRadio Podcast Episode 15

SchiffRadio Podcast Episode 15

Episode 15 Republican victory a reality only because recovery is a fantasy Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201426min

SchiffRadio Podcast Episode 14

SchiffRadio Podcast Episode 14

Episode 14 The U.S Recovery is as Real as Ireland is a Part of the U.K. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201429min

SchiffRadio Podcast Episode 13

SchiffRadio Podcast Episode 13

Episode 13 Synopsis: Treats on Wall Street Equal one Big Trick. Belief that QE worked sparks optimism: * New record high in Dow Jones & S&P * NASDAQ highest since 2000 * Dollar index closed at a 4-year high * Yen at a 6-year low * Gold/Silver prices at a 4-year low * Gold Stocks at a 10-year low or more Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Nov 201428min

SchiffRadio Podcast Episode 12

SchiffRadio Podcast Episode 12

Episode 12 Synopsis: Greenspan's QE Criticism Too Little Too Late * FOMC declares "substantial improvement" in economy. * Does this narrative reflect the best possible spin or ignorance? * Behind the 3.5% GDP number: * Deflator - 1.3% indicates decrease in inflation. * 4.6% surge in gov't spending * Big drop in trade deficit resulting from drop in crude oil prices adds 1.3% to GDP Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Nov 201434min

SchiffRadio Podcast Episode 11

SchiffRadio Podcast Episode 11

Episode 11 Synopsis: Where is the Apology? Preview of the Michael Brown Grand Jury case does not support liberal media's narrative. * The officer knew that Michael Brown had just robbed a convenience store. * The bullets entered Michael Brown from front as he was approaching the officer. * Blood evidence on Michael Brown indicates he was moving toward the officer. * Wounds in upper arm indicate he did not have his arms in the air. * Michael Brown was shot in his thumb at extremely close range. * A majority of eyewitnesses support the officer's testimony Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Nov 201438min

SchiffRadio Podcast Episode 10

SchiffRadio Podcast Episode 10

Episode 10 Synopsis Hillary's Fractured Economic Theory: * Raising the minimum wage will create jobs. * Businesses don't create jobs; the government creates jobs. * Regan Economics "failed spectacularly". * Clinton's economy was based on "arithmetic", not a bubble. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

31 Okt 201420min

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