Senate Rearranges the Deck Chairs – Ep. 300

Senate Rearranges the Deck Chairs – Ep. 300

No Real Tax Relief
Yesterday the Senate released their version of the Tax Cut and Jobs Act, and it is not that different from the House version. There are some differences, some of which I will get into, but the main problem is not the difference, but the similarity. The plans don't deliver any kind of substantial tax relief, in the manner that President Trump refers to as, "the biggest tax cuts ever". It's not even close. For most people, there will be minor tax cuts and for other people there are actually minor tax increases.
Democrats: "I'll Give You Something You Did Not Earn!"
The real problem, again, is that Republicans can't really be Republicans, given how much debt we have. They like to talk about lower taxes - that's how they get elected: "We're going to lower your taxes!". The Democrats are generally the party of, "I'm going to increase your benefits! Vote for me and I will give you something you did not earn." What the Republicans used to say is, "Vote for me and I'll let you keep more of what you did earn." That was really the difference between the Democrats and the Republicans. The Democrats were about taking things from other people and the Republicans were about keeping your stuff.
You Can't Take Away an Entitlement
The problem is, too many Republicans are really Democrats or they're afraid to cut any government spending. At this point, the deficits are so big that you can't really have big tax cuts unless you're willing to cut government spending. Most Republicans are not willing to do that. Sometimes they will vote not to create a new government entitlement, but they will never vote to take something away, which is why they didn't really want to take away Obamacare. A lot of Republicans didn't vote for it, but they are not going to vote to kill it.
Small Government Everywhere but in the Military
The problem is, if you really want to cut spending so you can have tax cuts, where's the money? The defense budget is big, and most Republicans don't want to cut defense - that' s the only place they like big government (in theory) is defense. They want small government everywhere except in the military. So there are not very many Republicans who are willing to cut defense to enable the tax cuts.
So What's Left for Republicans to Cut?
Now you got Social Security and Medicare, but a lot of Social Security recipients vote Republican. So the Republicans don't want to cut Social Security and don't want to cut Medicare because they are afraid of how the voters will react. So that's off the table. You can't cut interest on the debt, unless you're going to default on the debt; nobody wants to do that. In fact, interest on the debt is going to go up as interest rates go up. So what's left that Republicans (in theory) can cut? They are afraid of being labeled mean, heartless, taking away programs for the poor, the needy - so there's really nothing that the Republicans are willing to cut, so they can't give any tax cuts. They don't want to level with their constituents and say that they can't cut your taxes because then, what's the point of voting Republican?

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

Avsnitt(1081)

SchiffRadio Podcast Episode 8

SchiffRadio Podcast Episode 8

This week, we're releasing a series of podcasts to get current information out on a more basis. We appreciate your feedback on this new format. Episode 8 Segment 1: * Contrary to GDP number, consumers are still struggling. 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

28 Okt 201413min

SchiffRadio Podcast Episode 7

SchiffRadio Podcast Episode 7

Episode 7 Synopsis * More deflation/inflation propaganda * The Fed prefers inflation because at least they know how to fight it * Money printing in Venezuela* Bloomberg warns Yellen not to follow Sweden's example * Obamacare premiums going up after the election* Mark Cuban's plan to limit student loans * Wells Fargo employee demands $10,000 raise for himself and other employees * British Minister under fire for suggesting intellectually disabled should be able to work for less than minimum wage * News about QE4 * Yellen ironically speaks up on wealth inequality 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

21 Okt 20142h 12min

SchiffRadio Podcast Episode 6

SchiffRadio Podcast Episode 6

Episode 6 Synopsis * Big downside moves in global equity markets * U.S. stock market trends * Gold moves upward * U.S. Dollar weakness * A detailed analysis of this month's FOMC minutes * Share buybacks and other artificial boots to the stock market * More Obamacare blowbacks against the job market and employee healthcare * The straight story on misleading reports on the economy * How California labor law put a vineyard out of business * Interview with Paypal co-founder Peter Thiel in his new book 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

21 Okt 20142h 20min

SchiffRadio Podcast Episode 5

SchiffRadio Podcast Episode 5

Episode 5 Synopsis: * Debunking Ned Davis' predictions on gold * Chicago Fed president Charles Evans hints that the Fed can't raise interest rates * Alan Greenspan gives Fed a pass on CNBC * Brokerage houses hit by FINRA arbritation results * Eurozone low inflation 'scare' * Collapse in Fannie and Freddie stock * The numbers behind the weekly economic data 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 Okt 20142h 24min

SchiffRadio Podcast Episode 4

SchiffRadio Podcast Episode 4

Episode 4 Synopsis * Launch of the iPhone 6 * Surprising employment arbitration results * Housing market rolls over * Hotel minimum wage * World Bank head claims that QE works 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

28 Sep 20142h 23min

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK 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

21 Sep 20142h 4min

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story 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

15 Sep 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. 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

9 Sep 20141h 52min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
rss-borsens-finest
uppgang-och-fall
rss-svart-marknad
avanzapodden
svd-ledarredaktionen
rss-dagen-med-di
lastbilspodden
24fragor
borsmorgon
affarsvarlden
rss-kort-lang-analyspodden-fran-di
rss-inga-dumma-fragor-om-pengar
fill-or-kill
kapitalet-en-podd-om-ekonomi
rss-en-rik-historia
dynastin
rikatillsammans-om-privatekonomi-rikedom-i-livet