This week, as the Coronavirus pandemic spread in the US and stock market volatility sparked flashing red alarms for the national economy, the Trump administration floated several proposals for stimulating the markets and staving off a recession. The problem is that none of the proposals thus far adequately address the needs of the most vulnerable group amid this pandemic – low-income workers. Right now, 6 … Continue reading How Can the US Contain Coronavirus and Rescue the Economy? Start with Helping Low-Income Workers.
Opportunity Zones are a great idea — if your goal is to ensure that rich real estate investors never need to pay any taxes at all.
Last year, Republicans unilaterally passed tax cuts that disproportionately benefited the wealthy and corporations. By giving tax cuts to wealthy Americans, particularly investors, Republicans claimed their tax bill would lead to substantial job and wage growth. Unsurprisingly, this has not happened. As an investor myself, I can tell you why: it’s because I’m not a job creator. For decades, conservatives have credited the investor class … Continue reading I’m Not a Job Creator
Under the guise of improving and encouraging investments in our economy, federal legislation has made shareholders richer and richer. At the same time, the federal minimum wage and tipped-minimum wage have remained stagnant. The combination of these two policies has resulted in the weakening of American innovation. When Republicans lowered the corporate tax rate to 21% from 35%, they did so under the promise that … Continue reading Stock Buybacks Instead of Employee Raises
In his second year as president, Trump has unveiled an infrastructure plan that heavily relies on public-private partnerships. The president plans to invest just $200 billion in federal spending, expecting the rest of the $1.5 trillion he invisions for the project to come from state and local governments, as well as the private sector. In order to engage the private sector in infrastructure spending, the … Continue reading Nickel and Diming the Working Class
To all my fellow American entrepreneurs, businesses owners, and investors who have been blessed to be in the upper end of the income and wealth spectrum: America needs a lot of things before we need another tax cut.
Back in 2008 Henry Paulson, the Treasury Secretary in the Bush administration, needed to put billions of dollars of the taxpayers money at risk to bail out the big banks. We as a nation have decided that we never want to do that again.
Tuesday the Illinois State Senate took a bold step in fighting inequality by becoming the first state chamber in the country to vote in favor of closing the carried interest loophole.
During the 2016 presidential election Donald Trump repeatedly emphasized the impact of U.S. trade policy on unemployment. The effectiveness of this message to the workers of America was quite revealing.
Personally, I am always cautious because I know that any day, something could go wrong, but I am not making any changes in my investment plans based on the election.