The Real Side - Tax Reform and the Trade Deficit
Show Notes:
David appears @ 18:40
- As a whole David likes the deal, but believes there are several landmines in it.
- Tax reform hasn't happened since Reagan.
- The upper classes in Blue states won't like the plan since it the local tax deductions won't be eligible on the federal level.
- Otherwise the rest of America will benefit from the tax plan.
- The U.S. faces a challenge in lessoning the trade deficit. Our high incomes create high prices for our goods, which makes it difficult for our products to be sold overseas.
- President Trump thinks the trade deficit with Japan is too great and used Japanese automakers as an example.
- David thinks President Trump is a little off on those statements since Japanese companies manufacture a great deal of cars and engines in the US.
- Trade makes the world go round and we have to accept a certain amount of deficit.
- We're not losing money from the trade deficit.
- Lowering corporate taxes, which are the highest in the world, will help. We need to appeal to companies to want to manufacture in America.