E.J. Antoni

I think overall, yes. So one of the problems with things like taxes on tips is it costs the Treasury so much to enforce it that it basically equals the revenue they get out of it. So if the Treasury wants to get another dollar in terms of tip receipts, tax receipts, they have to spend a dollar to do it. I mean, it's a waste. You should get rid of the tax just for that. But also,

I think overall, yes. So one of the problems with things like taxes on tips is it costs the Treasury so much to enforce it that it basically equals the revenue they get out of it. So if the Treasury wants to get another dollar in terms of tip receipts, tax receipts, they have to spend a dollar to do it. I mean, it's a waste. You should get rid of the tax just for that. But also,

I think overall, yes. So one of the problems with things like taxes on tips is it costs the Treasury so much to enforce it that it basically equals the revenue they get out of it. So if the Treasury wants to get another dollar in terms of tip receipts, tax receipts, they have to spend a dollar to do it. I mean, it's a waste. You should get rid of the tax just for that. But also,

Things like no tax on tips, no tax on overtime. That encourages people to work more, to work harder. That has a big supply side effect. It's like cutting marginal tax rates. So that would definitely end up increasing economic activity and leading to a net increase in revenue. And you mentioned making things permanent.

Things like no tax on tips, no tax on overtime. That encourages people to work more, to work harder. That has a big supply side effect. It's like cutting marginal tax rates. So that would definitely end up increasing economic activity and leading to a net increase in revenue. And you mentioned making things permanent.

Things like no tax on tips, no tax on overtime. That encourages people to work more, to work harder. That has a big supply side effect. It's like cutting marginal tax rates. So that would definitely end up increasing economic activity and leading to a net increase in revenue. And you mentioned making things permanent.

The one thing that they did not make permanent, and I really hope the Senate fixes this, is the expensing provision. That's probably the biggest pro-growth part.

The one thing that they did not make permanent, and I really hope the Senate fixes this, is the expensing provision. That's probably the biggest pro-growth part.

The one thing that they did not make permanent, and I really hope the Senate fixes this, is the expensing provision. That's probably the biggest pro-growth part.

So this allows a business, let's say they buy a big, beautiful studio like this, right? You want that business, since they spent the money right now to buy the studio, you want them to be able to deduct that today. Instead, what this does, this bill does, is it just basically gives a couple of years extension on that. Mm-hmm.

So this allows a business, let's say they buy a big, beautiful studio like this, right? You want that business, since they spent the money right now to buy the studio, you want them to be able to deduct that today. Instead, what this does, this bill does, is it just basically gives a couple of years extension on that. Mm-hmm.

So this allows a business, let's say they buy a big, beautiful studio like this, right? You want that business, since they spent the money right now to buy the studio, you want them to be able to deduct that today. Instead, what this does, this bill does, is it just basically gives a couple of years extension on that. Mm-hmm.

And then a company like this is going to have to essentially deduct not just this year, but then possibly for the next 39 years, the full cost of the studio.

And then a company like this is going to have to essentially deduct not just this year, but then possibly for the next 39 years, the full cost of the studio.

And then a company like this is going to have to essentially deduct not just this year, but then possibly for the next 39 years, the full cost of the studio.

Right. Sure enough, when Biden let this expire, this provision, we immediately saw an effect in investment. It completely chilled investment. The not only did the trend dip down, but we had several quarters where it actually went negative. We were losing investment. Right. Not gaining it. I mean, it was it has it has a terrible, terrible.

Right. Sure enough, when Biden let this expire, this provision, we immediately saw an effect in investment. It completely chilled investment. The not only did the trend dip down, but we had several quarters where it actually went negative. We were losing investment. Right. Not gaining it. I mean, it was it has it has a terrible, terrible.

Right. Sure enough, when Biden let this expire, this provision, we immediately saw an effect in investment. It completely chilled investment. The not only did the trend dip down, but we had several quarters where it actually went negative. We were losing investment. Right. Not gaining it. I mean, it was it has it has a terrible, terrible.

Exactly. And what's really terrible about that is that investment is the only driver of long run economic growth. Yes. Under Biden, the short term driver of economic growth was just government spending. Yeah. Right.

Exactly. And what's really terrible about that is that investment is the only driver of long run economic growth. Yes. Under Biden, the short term driver of economic growth was just government spending. Yeah. Right.