Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge,

skills, insight, and encouragement you need to live a rich and meaningful life now, while

building a plan for financial freedom in 10 years or less.

My name is Joshua Sheetz.

Today, I want to continue a discussion on tax changes, tax law changes, with a brief overview

of the text of the recent House Democrat proposal for tax changes that they would like to see

passed in tax law.

Now, when I comment on current events, I'm walking a bit of a tightrope. If I comment on current

events and current proposals, that is good for content. It's good for eyeballs because people are

often interested in hearing and seeing what's actually happening. The problem is that when you

comment at an early stage, it's hard to be certain of what will actually get through the political

process. In the same way that in yesterday's show where I talked about recent proposals and bills

that are submitted to Congress, for your bank to automatically send all of your transaction

information directly to the IRS. If I comment on tax changes here, it's current, it's newsworthy,

it's attractive in terms of attention, but it's highly uncertain. I don't know what's actually

likely to be passed into law. I'm personally not close enough to the political process to even

have a sense of what's actually feasible at this point in time in the political process in the

United States. It's dangerous for me to comment on current proposals at an early stage because

it's very uncertain. However, if you wait too long, if I wait too long, then there's not really any

planning opportunities available. I'll point out in just a moment with some commentary on this

current bill, how obvious and important that is. If you wait for a bill to become law, if you wait

for the president's signature, then often you're too late to actually put in place any kind of

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