Mark J Kohler's EXPERT Analysis Of Trump's Tax Cuts Plan

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Finding Peak with Ryan Hanley 43 min 3 speakers 7 chapters transcribed
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What insights does Mark J. Kohler provide on Trump's proposed tax cuts?

Ryan Hanley 1:53
Yeah, so I want to get right into the meat and potatoes of something that just came out. Trump just released his proposed tax cuts. There's a ton of stuff in there, right? And then there's all this information coming from, we'll call them people who don't agree with Trump or tend to not agree with him. And there's a lot of information that I think and I'm getting people reaching out to me and I don't know anything about taxes. But buddies are like, hey, how does this impact us? Is this what he promised, et cetera? So, you know, I guess maybe let's start with the extension of like the tax cuts and Jobs Act in terms of like what he had in place before he's kind of bringing back. And maybe just in general, break down for us, is this really tax cuts for the labor class, for the middle class, for Main Street, as he promised and as it seems? Or is this, as we're kind of being told from the other side, a backdoor into tax cuts for billionaires and all his oligarchical friends?
Mark J. Kohler 2:49
Yeah. Now, thank you. It's a wonderful question. And I don't want any of the listeners here to think I'm just out on the Trump campaign trail. I am not. I am all for Main Street America. And whether it's Democrat or Republican, let's pass good tax legislation to help small business owners and real estate investors, because that's the backbone of this country. It's not the big corporations. It's 90% of our economy are small business owners with less than 100 employees. And so I'm with you. We are... going to hope that this new legislation this year will have the best and the most impact on that segment of our, of our country and that economy. So, well, what's kind of fun here is we've got Terminator one. Now we get Terminator two. What did we see in the first movie?

How do Trump's tax cuts impact small business owners?

Mark J. Kohler 3:41
You know, in the first movie, that's exactly what we got. We've got Bonus depreciation for equipment and real estate investors. The opportunity zone provisions. Better deductions for autos and mileage. Better tax rates. We simplified the tax rates and lowered the tax rates across the board for the wealthy and the middle class and the low. Everybody got a tax cut. And so that Tax Cuts and Jobs Act, which was about 500 pages, I used to carry it around with me for a year or two as I was on the road explaining it, wrote a second edition of my book to explain it. It was packed with a lot of stuff. But here's the interesting point. The guts of it was, we're going to offer all these tax incentives for the middle class, lower tax rates and these tax strategies.
Mark J. Kohler 4:33
How in the hell are we going to pay for it? He brought... foreign corporation, U.S. corporations doing business abroad, they had to bring their revenue back to the U.S. He slammed all the foreign bank account issues going on in Switzerland and multiple countries. He was tough on the corporations. He said, bring your money back to the U.S.

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