The WealthAbility Show with Tom Wheelwright, CPA

How the Deficit Will Affect You, Your Taxes, Your Business

14 snips

Sep 11, 2025

John Tamny, president of the Parkview Institute and author of 'The Deficit Delusion', dives deep into the implications of the national deficit and its effects on taxes, businesses, and investments. He argues that while the $37 trillion debt seems alarming, high taxation and underinvestment are more concerning. The discussion critiques supply-side economics and suggests that a reevaluation of tax policies could boost innovation and economic growth. Tamny emphasizes the importance of understanding tax laws for entrepreneurs seeking to thrive.

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INSIGHT

Debt Is The Least Important Problem

John Tamny argues the national debt is the least of our problems because markets signal it will be easily paid off.
He says rising federal revenues, not debt, are the real scandal because they signal lack of progress and overtaxation.

INSIGHT

Productivity Will Inflate Federal Revenue

Tamny connects booming wealth creation and future productivity to skyrocketing federal revenue.
He warns that growing revenues will make paying debt trivial while hiding a crisis of capital consumption by government.

INSIGHT

Growth Can Raise Revenue And Debt

Tamny accepts the Laffer curve but says supply-siders misread its implication for debt.
He argues growth-driven revenue increases historically led to larger deficits, not smaller ones.

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👉 https://bit.ly/41d3Kmy 👈 CLICK HERE Ready to change your financial future? Join Tom Wheelwright, Robert Kiyosaki's CPA, and apply to the WealthAbility Accelerator today! How do we solve the deficit? How will it affect you, your business, your taxes, and your investments? Join Tom Wheelwright as he explores the debt, the scandal, and how the federal tax revenue will skyrocket with his guest and author, John Tamny. John Tamny is president of the Parkview Institute, editor of RealClearMarkets, a senior fellow at the Market Institute, and senior economic adviser to mutual fund firm Applied Finance Group. He frequently writes about the securities markets, along with tax, trade, and monetary policy issues that impact those markets for a variety of publications including the Wall Street Journal, Forbes, and RealClearMarkets. Tamny is the author of six books. His latest is The Money Confusion (All Seasons Press). Others are When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason (Post Hill Press), which was released in 2021, Popular Economics (Regnery, 2015), a primer on economics, Who Needs the Fed? (Encounter Books, 2016) about the central bank’s onrushing economic irrelevance, The End of Work (Regnery, 2018), which discusses the exciting evolution of jobs that don’t feel at all like work, along with 2019’s They’re Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers (AIER). In this episode, discover why debt is the least of our problems and how increasing revenue is a sign of progress and an unseen crisis. Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/ 00:00 - Intro. 01:50 - The Scandal & The First One Man Unicorn 06:37 - False: “Rising revenues will pay off the debt.” 09:45 - Signals of an unseen crisis. 12:10 - “A tax on Elon Musk is a tax on everybody.” 18:16 - Who will get taxed? Who’s complicit? 26:13 - How taxing the rich costs everyone. 30:18 - Closing statements. Looking for more on John Tamny? Book: “The Deficit Delusion” Twitter/X: @johntamny Website: https://parkviewinstitute.org/ Facebook: https://www.facebook.com/John%20Tamny ----- 👔 ABOUT TOM: https://www.wealthability.com/tom/ 💸 WEALTHABILITY LIVE: https://www.wealthability.com/wealthability-live/ 🎓 EDUCATIONAL PRODUCTS: https://www.wealthability.com/ 📕 TOMS BOOK "TAX FREE WEALTH": https://taxfreewealthbook.com 📰 SIGN UP TO TOM’S WEEKLY REPORT: https://wealthability.com/getreport/ 🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4bgs37w 🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/3Qwh3tl 💰 WORK WITH A TFW ADVISOR: https://tfwadvisors.us/contact-us/ 🎓 BECOME A TFW ADVISOR: https://tfwadvisors.us/franchise/ 📺 JOIN THE CHANNEL: https://www.youtube.com/@TomWheelwrightCPA FOLLOW US ON INSTAGRAM💜 @Tom_Wheelwright ABOUT US: Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona. DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.