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How do we solve the deficit? How will it affect you, your business, your taxes, and your investments? Join Tom Wheelwright as he explores the debt, the scandal, and how the federal tax revenue will skyrocket with his guest and author, John Tamny.
John Tamny is president of the Parkview Institute, editor of RealClearMarkets, a senior fellow at the Market Institute, and senior economic adviser to mutual fund firm Applied Finance Group. He frequently writes about the securities markets, along with tax, trade, and monetary policy issues that impact those markets for a variety of publications including the Wall Street Journal, Forbes, and RealClearMarkets. Tamny is the author of six books. His latest is The Money Confusion (All Seasons Press). Others are When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason (Post Hill Press), which was released in 2021, Popular Economics (Regnery, 2015), a primer on economics, Who Needs the Fed? (Encounter Books, 2016) about the central bank’s onrushing economic irrelevance, The End of Work (Regnery, 2018), which discusses the exciting evolution of jobs that don’t feel at all like work, along with 2019’s They’re Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers (AIER).
In this episode, discover why debt is the least of our problems and how increasing revenue is a sign of progress and an unseen crisis.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 - Intro.
01:50 - The Scandal & The First One Man Unicorn
06:37 - False: “Rising revenues will pay off the debt.”
09:45 - Signals of an unseen crisis.
12:10 - “A tax on Elon Musk is a tax on everybody.”
18:16 - Who will get taxed? Who’s complicit?
26:13 - How taxing the rich costs everyone.
30:18 - Closing statements.
Looking for more on John Tamny?
Book: “The Deficit Delusion”
Twitter/X: @johntamny
Website: https://parkviewinstitute.org/
Facebook: https://www.facebook.com/John%20Tamny
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ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
32 min