Trump Tax Cuts To Starve The Beast – Ep. 244

Trump Tax Cuts To Starve The Beast – Ep. 244

Summary: President Trump actually delivered on his promise of the largest tax cut in American history, and he delivered it on time. Trump may have presented a plan with built-in bargaining positions, or he might even intend to pass a tax bill that will "starve the beast". The interesting thing is that the President is applying this 15% tax rate to pass-through entities, such as LLC's, which will encourage most businesses to shift into a different business model to take advantage of the low tax rate. In other words, people currently at a 43.4% rate will pay 15%. This is going to cause two things to happen that will hurt the economy and a lot of people in the middle class: a big increase in consumer prices and inflation. Will Republicans vote against the biggest tax cut ever based on the fact that it adds to the debt? Ultimately, a resulting fiscal crisis might force Republicans to vote to cut spending.

* Donald Trump was right. He actually lived up to expectations, in fact, he might have exceeded them
* When it comes to the magnitude of the tax cut that he proposed - on schedule
* On Wednesday, today, Donald Trump unveiled his idea for what could well be the biggest tax cut in American history
* Ordinarily, I would be all in favor of the biggest tax cut in American history, if it were accompanied by the biggest spending cuts in American history
* Government costs what it spends - you have to pay for government, one way or another
* So if you're going to have big government and you're going to spend all kinds of money, the most efficient way to raise the money is through taxation
* And of course the most efficient form of taxation would be a consumption tax, sales tax, tariffs
* Not an income tax
* An income tax is the worst way to raise revenue
* An even worse way to raise revenue is by going into debt
* Borrowing money and then printing money will cause prices to rise, eventually interest rates to rise
* And ultimately will result in enormous tax hikes
* To repay all the money that you borrowed
* What Donald Trump is doing, is he is offering an enormous tax cut, but no spending cuts
* And what they are saying is that the tax cuts will pay for themselves because there will be so much extra growth
* That the government will make up for the difference based on more people working and more people having higher incomes and even though the tax rates are lower, the net payments will be higher
* None of this is true
* These tax cuts are so enormous that there is no way that the economic growth can make up the difference
* Even if we get the higher economic growth
* One of the bigger issues that people are not talking about is the impact of higher interest rates
* Which will certainly be a result of much larger deficits and even faster economic growth
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Does Market Volatility Portend a Change of Trend? Ep. 30

Does Market Volatility Portend a Change of Trend? Ep. 30

* Stock market roller coaster ride this week * Chinese market plummets * Forex markets: Yen rallies after 7-year low * The Swiss may discourage the EU against QE * Unwarranted U.S.optimism as negative data is ignored * Gold and Silver strong despite bad press * Gold outperforming the Russel 2000 * Deficit in Manufactured Goods hit all-time high * China reports record trade surplus Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

10 Dec 201420min

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

* What is the goal of the "Inflation Mandate? * What is the exact number of the mandate? * If the real mandate is "less than 2%" they're already there * The European economy is expecting another QE, but I don't expect it. * How they plan QE if they don't know what they are going to buy? * Draghi cites success of U.S. QE, but the Fed has not shrunk its balance sheet. * They discussed buying all assets except gold because this would highlight failure of QE Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

4 Dec 201425min

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28 * This holiday shoppers had more shopping hours * 5% less traffic than last year * 11% less money spent than last year * The economy can't support robust holiday sales * Despite big drop in gas prices * Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

1 Dec 201424min

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27 * Oil and gold stocks down * OPEC announced no decline in oil production * Crude trading below $66/barrel * Bump to the Dollar * Mining sector takes a hit * Gold down * A no vote on Swiss Gold initiative bullish for gold Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

30 Nov 201435min

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26 Missing expectations on all economic indicators * Chicago Fed index .14 * PMI flash services 56.3 * Dallas Fed Manufacturing 10.5 * Case Shiller Index slows down to 4.9% * Consumer Confidence number down to 88.7M * Oil prices continue to fall * Big drop in Richmond Fed 75% below estimate * Optimism fueled by debt, consumption and bubbles Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

26 Nov 201428min

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict: Episode 25A * Riots are not the caused by the Grand Jury * The Grand Jury's statement did not address Michael Brown's culpability * All evidence points to officer's innocence * Media fears addressing Michael Brown's violent behavior * Young men are not raised to respect the law * This will happen again because there is no recourse to violence and false witness< Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

25 Nov 201417min

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman runs premature victory lap: Episode 24A * Assumes that money-printing works because there is "no inflation" * Krugman's cure for the stock market bubble was the real estate bubble * The test is when the printing presses stop Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

25 Nov 201417min

SchiffRadio Podcast Episode 24

SchiffRadio Podcast Episode 24

Big News out of the Central Banks * U.S. FOMC * Primary concern - inflation is too low * no policy to "correct" the problem * Preparing markets for additional stimulus * Japanese Central Bank Doublespeak * Japanese sales tax hike postponed * Continued calls for more inflation * Why is sales tax is different than inflation? * Euro Decline * Mandating "stability" by increasing inflation? * Chinese Central Bank * Cut interest rate to 5.6% * Money flows to the dollar as a hedge because the market believes the Fed * Gold has not dropped much against the dollar and has risen against other currencies Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

22 Nov 201431min

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