313: Trump vs. Biden Tax Plans with Tom Wheelwright
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 5 October 2020
⏱️ 43 minutes
🧾️ Download transcript
Summary
Learn how income tax rates, capital gains tax rates, the 1031 Exchange, the estate tax and more will change - or not.
The outcome depends upon whether Donald Trump gets a second presidential second term or Joe Biden is elected as the new president.
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Tom Wheelwright, the most recurrent guest in show history, joins Keith.
He's the world's foremost expert at reducing your taxes permanently. He can help you at Wealthability.com
Resources mentioned:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehold, President Donald Trump's tax plan |
| 0:05.9 | versus Democratic presidential nominee Joe Biden's tax plan. Which one would benefit consumers like you |
| 0:12.3 | and investors like you the most? And we're joined by a great guest today on Get Rich Education. |
| 0:20.2 | Congress just made it possible to get up to $100,000 out of your current 401k or TSP to invest in |
| 0:26.3 | real estate, gold, or even your own business. |
| 0:28.8 | That's even if you're still working and avoid the IRA Ubit tax. |
| 0:33.6 | The thing is, you can get your money tax and penalty-free for a limited time. |
| 0:38.3 | The EQRP is your secret weapon. |
| 0:40.6 | With the CARES Act expiring soon, the EQRP company helps you unleash your retirement funds now. |
| 0:46.1 | Learn more and text message EQRP in all-cap of letters to 72,000. |
| 0:54.0 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:01.2 | This is Get Rich Education. |
| 1:04.3 | Thank you. Welcome to GRE from London, England to London, Ontario, Canada and across 188 nations worldwide. |
| 1:23.2 | I'm Keith Weinhold. |
| 1:24.6 | This is Get Rich Education. |
| 1:26.2 | Now, when we talk about the history of taxes and proposed tax changes, whether that's in the United States or really any of our 188 listener nations, you know what you need to be really careful about. |
| 1:39.8 | When it comes to taxes, taking more and ever more of your hard-earned dollar, that thing is new taxes. |
| 1:49.3 | Look, more than 100 to 150 years ago, the income tax did not even exist. |
| 1:56.6 | Can you imagine then earning $40 an hour for 40 hours a week and actually getting a paycheck for all of that amount, $1,600 with no income tax or anything else taken out? |
| 2:09.5 | It's kind of like when a camel first gets its nose under the tent. |
| 2:15.3 | See, about 150 years ago, we introduced the very first income tax rate at just |
| 2:22.0 | 3%. Well, the camel getting its nose under the tent is just the start of lifting up that |
... |
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