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b"Faltering Expectations
\\nThe U.S. dollar and the stock market continued to be a little bit under pressure this week as anxieties are rising over the fate of the tax cuts with so many investors are putting so much expectation into the proposed tax cuts.
\\nTax Cuts Do Not Reflect Smaller Government
\\nI have gone over many times on this podcast why I do not believe the tax cuts are going to help the economy. Tax cuts are good for the economy to the extent that they reflect smaller government.\\xa0 If you are going to make government smaller, and government is going to be less of a burden on the economy, if government is going to take fewer resources out of the economy, it will be freeing those resources up for the private sector.\\xa0 If you are lowering people's taxes because you relieve them of the responsibility of paying for a larger government, that is a big positive!
\\nGovernment Will Have to Print or Borrow
\\nAny time we can take resources out of the government sector and put them back into the private sector, those resources will be used more efficiently and more productively, the economy will be better off.\\xa0 But if we simply cut taxes, and allow government to get bigger and bigger, that is not good for the economy.\\xa0 All that is happening is that the government has to find and alternative source for paying for the resources it is consuming.\\xa0 And if it is not going to collect it through taxes, then it is going to have to borrow it or print it. Those other ways of sucking up those resources do more economic damage than what otherwise would have been the case if they had just left taxes alone.
\\nSo Everybody is Wrong
\\nSo everybody is wrong in believing that these tax cuts are going to be good for the economy.\\xa0 They are not going to be good for the economy, and they are certainly not going to be good for the dollar. They will hurt the dollar because, by definition, instead of removing dollars, the government is going to print dollars out of thin air and spend that.\\xa0 So they are debasing the dollar.
\\nNo Individual Mandate
\\nBut putting that aside, there is still a lot of nervousness out there about whether or not the tax cuts will pass and what their final form will be.\\xa0 First of all, the Senate came out yesterday and all of a sudden thew a curve ball into the tax cuts. As part of the tax cuts they said they were going to repeal the individual mandate from Obamacare. That is the part that requires individuals to pay a penalty to the government for not purchasing insurance.
\\nHail Mary
\\nFirst of all, the fact that they have to throw that in there shows that they needed to do that to tempt some Republicans, maybe like Rand Paul, who were on the fence or not for the tax cuts. I think the fact that they had to go for the Hail Mary shows that they are having a hard time getting enough Republican support.
\\nSaving the Government Money?
\\nBut here's the ridiculous part: The government claims that by eliminating the individual mandate it is going to save the government a lot of money and the savings will subsidize a larger tax cut for the middle class.\\xa0 Wait a minute. The individual mandate means that people who don't buy insurance have a penalty to the government!\\xa0 That's revenue to the government. Wouldn't that cost the government more?
\\nRepublican Logic
\\nHere is the Republican logic: If they stop penalizing people who don't buy health insurance, then fewer people will buy health insurance.\\xa0 Some of the people who are buying health insurance now are getting government subsidies, so if they don't buy health insurance then the government won't have to provide the subsidies and that's where they save the money.
\\nPremiums Through the Roof
\\nThen they argue that if younger healthy people drop out, then insurance premiums will rise even faster than they are rising right now.\\xa0 And because health insurance premiums will rise a lot faster,\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy"