Creating Wealth Real Estate Investing with Jason Hartman CW 906 - Understanding the Trump Tax Plan and Changes to Real Estate Investors with Laurence Kotlikoff
The Trump Tax Plan that is being considered by Congress has been getting a whole lot of bad press. But is it really that bad compared to what we have right now?
Laurence Kotlikoff, William Fairfield Warren Professor at Boston University and President of Economic Security Planning, Inc, talks with Jason Hartman about what kind of impact the plan will actually have on the economy, why his model is different from many of the others, what we need to do to get the economy stimulated and rolling again, and what changes it would bring for real estate investors.
Key Takeaways:
Jason's Monologue:
[2:15] The myth of coastal properties
"It is amazing to me how just the right mindset will change ones life"
[8:32] Finding his 4 big mentors at the age of 17 changed the course of Jason's life
[13:44] The prizes for the 5 Year Plan Contest are revealed
Laurence Kutlikoff Interview:
[19:11] Reactions to the proposed tax cuts have been over the top because they're based on an analysis done with a faulty model
[23:44] Laurence's model shows that the tax cut plan will actually stimulate growth because of the corporate tax reform
[27:40] What the new plan would mean to real estate investors
[30:49] Every change to the tax code takes a few years for people to adjust
[33:48] This is one of the few times when you can lower the tax rate and actually get more revenue
[37:30] Would lower personal income taxes increase consumption and stimulate the economy?
Website:
www.EconomicSecurityPlanning.com
"Generally who the government thinks they're helping isn't who they're helping, and who they think they're hurting isn't who they're hurting"
"No country that has grown dramatically has done it by spending"