David Fischer, Landmark Capital CEO and Financial Expert, visits with host Joe Messina to talk about the hotly debated tax plan & Trump’s plans to lower the trade deficit.
How Can We Lower the Trade Deficit?
Listen to “The Real Side – Tax Reform and the Trade Deficit” on Spreaker.
David appears @ 18:40
– As a whole David likes the deal, but believes there are several landmines in it.
– Tax reform hasn’t happened since Reagan.
– The upper classes in Blue states won’t like the plan since it the local tax deductions won’t be eligible on the federal level.
– Otherwise the rest of America will benefit from the tax plan.
– The U.S. faces a challenge in lessoning the trade deficit. Our high incomes create high prices for our goods, which makes it difficult for our products to be sold overseas.
– President Trump thinks the deficit with Japan is too great and used Japanese automakers as an example.
– David thinks President Trump is a little off on those statements since Japanese companies manufacture a great deal of cars and engines in the US.
– Trade makes the world go round and we have to accept a certain amount of deficit.
– We’re not losing money from the trade deficit.
– Lowering corporate taxes, which are the highest in the world, will help. We need to appeal to companies to want to manufacture in America.