Get Ready for the Bait and Switch…
EXPIRED: Say Bye to Trump Tax Cuts Hi Reader, Here’s what our editors are looking at today… | | | News: Dave Gonigam – The 401(k) Bait-and-Switch If you’re not already aware, allow us to be the first to tell you: The 2017 tax law — aka “the Trump tax cuts” — expire at the end of next year. OK, here’s the good news: Unless you’re at the top end of the income scale, there’s no way in hell that your tax rates will rise come 2026. It makes no difference which party wins the White House or Congress this year. Here’s why: If the Trump tax cuts are allowed to expire, everyone faces higher tax rates. It’s not as if there’s any appetite among either Republicans or Democrats for spending cuts. So if the Trump tax cuts are to be made permanent for most of us, the politicos are gonna have to come up with more revenue from somewhere. That’s the real reason for the revived chatter in Washington about eliminating the tax advantages that come with 401(k)s and IRAs. ⇒ Read More Here | |
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Politics: Jim Rickards – Worms in the Woodwork GDP has gone up, yes, but so has the national debt. The national debt today is $34.2 trillion. GDP today is approximately $28 trillion. This puts the debt-to-GDP ratio at 122%, the highest in U.S. history. The debt-to-GDP ratio was about 120% at the end of World War II. At least then, the U.S. and its Allies won the war, and the U.S. was an economic and political hegemon. Today, respect for the U.S. is in sharp decline around the world and our military ventures in Iraq, Yemen, Syria and Afghanistan have all been failures despite killing some individual terrorist leaders. ⇒ Read More Here | |
Markets: Sean Ring – Unseen Engine Powers AI, Gaming… and the Market I don’t usually write about single stocks, but I had to make an exception this time. The entire planet breathed a sigh of relief when Nvidia (NVDA) beat earnings estimates yesterday. But why is this company so important? Let’s get into it… ⇒ Read More Here That’s all for today, we’ll be back tomorrow with what our editors were thinking about this week. Make sure to email us here with whatever crosses your mind that you want us to cover. We look forward to hearing from you! Looking forward to your financial future, | | | | | |
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