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Trump Tax Code Implications for Investors

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tax-refundThere’s a lot to like about the Trump tax code reform, especially on the estate tax front:

Republicans’ race to rewrite the U.S. tax code on the heels of this month’s election relies on years of work that is suddenly—and quite unexpectedly—poised to pay off.

A 2017 tax overhaul would be a case study in the benefits of dead ends and behind-the-scenes preparation. Failure would show again how hard it is to reshape the U.S. tax system, even with rare political momentum and one-party control of government.

Republicans have long sought a rate-lowering, base-broadening revamp of the tax code, fusing differing business interests within the GOP coalition. Corporations would get a rate cut and lighter taxes on foreign income. So would small businesses, who report profits on their owners’ individual tax returns. Individuals would get those lower rates and simpler annual tax filing.

Whether the overhaul would give the economy a big lift is open to question. The conservative-leaning Tax Foundation says it would boost investment, after-tax income for all groups and create 1.7 million jobs in the long run. That’s an optimistic view. Economic models that are more sensitive to budget deficits suggest more modest results.

Tax Reform Under Donald Trump | Squawk Box | CNBC

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E.J. Smith - Your Survival Guy

E.J. Smith is 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. His focus at all times is on preparing clients and readers for “Times Like These.” 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. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) 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 (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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