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Trump’s Tax Plan

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In a perfect world every single American would pay taxes and have some skin in the game. It would motivate everyone to reduce the size of government. But that won’t sell politically because those that are getting a “free lunch” won’t vote for the guy making them pay taxes. Therefore, what we’re seeing with the proposed tax plans from candidates Bush, Rubio and Trump is, more or less, to keep the free lunches and reduce taxes. That’s not bold enough.

Lower taxes are fine, but there is a better way. I like a flat 10-10-10 tax for example, 10% sales -10% business-10% individual flat tax. This is the time for candidates to make a bold case to all of Americans to get government out of their wallets. One way to do that is to let all Americans feel what it’s like to pay their fair share. Tough to sell politically but the right way forward.

My friend Chris Edwards, director of tax policy studies at Cato and editor of www.DownsizingGovernment.org discusses Trump’s plan here.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.