Morning Wire Trade Wars & Tax Cuts: Is Your Savings Safe? | Saturday Extra
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Mar 22, 2025 
Financial expert Mark Tepper, CEO of Strategic Wealth Partners, discusses the intersection of trade wars and economic policy. He explains how Trump’s tariffs have shaken the stock market but posits that they may ultimately bolster the U.S. economy. Tepper delves into the potential upsides of tax cuts for lower earners and advocates for a strategy of universal tariffs alongside tax reductions. He emphasizes the importance of confidence in investing and the need for proactive financial planning amidst market uncertainties.
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Stock Market Volatility and Buying Opportunities
- The stock market volatility caused by Trump's tariffs is creating buying opportunities.
- High policy uncertainty historically precedes above-average stock market returns.
Tariffs and Pro-Growth Policies
- Trump's tariffs, combined with his pro-growth policies, could benefit the economy.
- A worst-case 25% tariff on all imports would equate to a 3% income tax, offset by tax cuts.
Taxing Consumption vs. Income
- Trump's proposal of no federal income tax under $150,000 is a challenge but could incentivize saving.
- Taxing consumption via tariffs instead of income could boost economic growth.