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Dominick Tavella of Diversified Financial Consultants and Chapwood Investments’ Ed Butowsky discuss how the president’s budget will impact the eco...
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David so for more on how the budget outlined by the White House is punishing success we turn our financial experts -- house -- is now.
Shaft would investments and -- develop a diversified financial consultants Ed first you.
You know again the concept of the American dream in my eyes is achieving success -- whatever that was doesn't as -- medium you make a lot of money but it can mean that.
I can also be building businesses is that is that model dead in the eyes of this administration.
Well this I don't know what this administration think it because the facts don't support what their policies are I mean success.
It really is the find is the realization.
Of a goal and everyone has different goals and so my might have a goal to be.
Social worker and they might make a certain amount of money somebody else wants to be a corporate executive and successes truly defined by achieving that and that's what the American dream is all about is achieving what your goals are.
And this administration is doing everything to squash that.
And -- if if you have a -- head.
And if you punish success you -- when their success say they get an -- in every time they get -- -- slap money he had said that get bad kid.
Spot they're just gonna stop getting -- it's a -- when businesses when you swap them every time they succeed every time -- make a decent profit.
And you knock them down for doing that they're gonna stop making decent profits -- -- Correct if you look at some of the most successful companies in this country -- the apples of the world the gold -- that Facebook's they all started to somebody because somebody's garage it to investors depending.
Pump money into those companies.
-- -- Look at the employment at these companies have today.
Look at the jobs they created and look at that tax revenue that now was coming to do you -- treasury because these companies have been hugely successful if you.
Foster business -- if you -- what if you help them grow tax revenue increases and helps all of America.
Every task they are dead -- percent of GDP that companies and individuals are now putting in to the government terms -- tax revenue is very small right now because they.
The economy of the private sector is just not growing as some -- 1617%.
Right now.
This Oracle average is closer to 20%.
Are the administration knows this they see the numbers.
They realize they need more revenue how -- they think they're gonna get -- this this private sectors already squeezed by the amount of money they're paying the taxes.
How does the administration realistically think they can get more revenue.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- On an and we thought -- brings up a great investment strategy point are are rich people right now more -- -- in hiding -- -- come then investing their income.
I don't so much as hiding as much as not putting it at risk.
So if you make an effort and investment accompanying you're gonna get a capital gains rate back you're gonna get preferential tax treatment they're gonna make that investment.
But you're not gonna get any preferential treatment you put that money at risk why.
You consider municipal bonds that they're taking chances I don't need to take the response -- you have to give people the incentive to put that money at risk do you see any incentives in the president's budget.
Non and and worse in the real world the world that we Italy -- Investors these are large business owners large meeting under a hundred employees not -- the mega corporation said I don't wanna hire anybody at this point again let's see how the politics play out and that will decide what we did Ed do you see any investment opportunities.
From the president's budget any special deals that -- investors can get in on.
Not not a chance in the world back -- you know what's really happening now.
They're just disgusted disgusted with everything that said there's one line that -- -- all the time is that Warren Buffett's secretary pays a higher rate -- Warren Buffett.
That's just not true everyone has the same tax rate is as a matter of if you decide to take advantage of that or not Warren Buffett doesn't take any income here's the -- tax rate.
And that's the kind of rhetoric that all of our investors are hearing people are hearing -- all over the place and they're saying you know what I'm just not gonna play the game and it's gonna sit on the sidelines and -- -- cascade dot develop great to see you gentlemen have a good night --
