1545: Joe Biden's Tax Plan, Debt to GDP, Inflation, Japan George Gammon

Sep 7, 2020

36:49

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Episode notes

Evan Moffic joins Jason Hartman for a discussion on what might change for investors if Biden is elected. Jason poses the question, how will businesses react to the corporate tax plan changes? Also, Biden wants to eliminate the 1031 Tax Exchange.

George Gammon joins Jason Hartman remotely from Saint Barthélemy. What's happening with Japan's debt to GDP ratio, and how can the US compare to this? George talks about the change in the savings rate due to Coronavirus and how it is manipulated.

Key Takeaways:

[1:40] The presidential election is in full swing.

[3:00] Jason talks about Biden's proposal to raise the top income tax rate from 37% to 39.6%. Biden also wants to raise corporate taxes. This will drive businesses away to offshore locations.

[7:00] Joe Biden wants to eliminate the 1031 tax exchange.

[7:40] The Palmer House Hotel, closing. Is there a conversion insight?

[10:45] A majority of young adults live with their parents, which hasn't happened since the depression.

George Gammon

[22:45] Jason opens a discussion on Japanonomics.

[23:55] The US deficit just this year will be the same as the total amount of debt accumulated from 1776 to 2000.

[27:00] George talks about trade surplus.

[32:00] How did Coronavirus change the US savings rate?

[35:00] How has the savings rate been manipulated based on IRS' estimates.'?

Websites:

GeorgeGammon.com/Pro

JasonHartman.com/Start