May 6, 2021
Last month, I said the tax storm is here, talking about hyperinflation. After listening to President Biden recently and reading his administration's American Families Plan, I believe these ideas (maybe law soon) are a BAD idea to help low-income and middle-income families. Increasing income taxes, increasing capital gains tax, eliminating step-up in basis, more IRS audits, and printing more U.S. dollars will reduce our spending abilities and wealth.
Ken Greene transitioned from being a Professional Engineer (P.E.) to the “Engineer of Finance.” His goal is to help people become financially independent and help them earn better yields with less risk by investing Off Wall Street.
Links and Resources from this Episode
- DISCLAIMER
- https://www.cnbc.com/2021/04/29/how-biden-tax-plan-would-hit-the-wealthy.html
- For resources and additional information of this episode go to http://engineeroffinance.com
- Connect with Ken Greene
- http://engineeroffinance.com
- Office 775-624-8839
- https://www.linkedin.com/in/ken-greene
- https://business.facebook.com/GreeneFinance
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Show Notes
- Increasing taxes is a bad idea - 2:34
- These tax proposals are a bad idea - 4:42
- The largest form of taxation - 6:07
- Destroying the stock market - 8:14
- Uncertainty in the stock market - 9:39
- Long-term capital gains - 10:06
- The power to tax is the power to destroy - 13:30
- An incentive to create less money - 14:09
- The areas Ken disagrees with - 15:44
- Potential solutions are going to present themselves - 18:39
- Taxes are damaging to families - 20:11
- How to reduce your income taxes - 22:54
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