How Will America Fare After Another Four Years Of President Obama And Austerity Measures
Larry Kudlow, one of the most compelling economists of our day and the anchor of CNBC’s prime time, “The Kudlow Report”, recently published an article by Tom Nugent who is one of the premier growth model managers at Redhawk Advisors. In his article, Nugent raises the question of where President Obama’s tax policies will lead America over the next four years. If the first four years of Obama’s presidency is any indicator of how the nation will fare over the next four years, then Americans need to be diligently preparing for the economic times ahead.
We Need Another Ronald Reagan To Save Us From Economic Demise
In his article, Nugent brought us back to the Jimmy Carter era, and how his presidency was characterized by a broad array of economic failures. Record high interest rates, and double digit inflation threatened to financially gut the American people. You were not a minority if you had a 21% interest rate on your car loan and a 16.75% interest rate on your mortgage. As America approached the 1980 election, they were in desperate need for a change of hands. When Reagan entered the scene, he offered a fresh perspective on taxation and the economy that brightened the outlook for most Americans. Reagan decided that rather than raise taxes and revenue, he would lower tax rates across the board for all Americans. As a result, the economy boomed, interest rates declined, inflation was suppressed, and America recovered. As Reagan left his office after 8 fantastic years, he gave Americans a lasting word: “Once you begin a great movement, there’s no telling where it will end. We meant to change a nation, and instead we changed a world.”
What Is Obama’s Plan For Taxes And The American Economy?
For years there have been struggles between conservatives and liberals on what really works as far as fiscal policy. What Romney had proposed was to follow another Reagan era suggestion and cut taxes across the board for all Americans in order to stimulate jobs, economic growth, and recovery. If it has worked in the past, who’s to say it wouldn’t have worked again? However, President Obama is staunchly against lowering taxes. His plan is to raise taxes on the wealthy, and to decrease spending. Policies which will not accomplish a reduction of the deficit, and will not help stimulate the economy. Take Europe for example; name one country where Austerity measures have accomplished anything but devastation for their economy? If we think, spending cuts and tax hikes will help things on the home front, we are gravely mistaken.
How Do I Protect My Finances From Bad Tax Policies?
Thomas Nugent-Chief Financial Officer at VICTORIA CAPITAL MANAGEMENT,Speaks On The Financial Cliff
As Nugent so adeptly stated: “If left unchanged, austerity can only produce a continuing decline in economic activity, falling standards of living and ultimately chaos and social collapse.” I don’t know about you, but his prognosis of the direction the U.S. economy is headed is rather sobering. I know that I want to do everything in my power to make sure my family is provided for and my investments are secure and profitable so that I don’t become a victim of circumstance due to poor tax policies. For more information on how to take action and be proactive regarding your finances, talk to a redhawk advisor like Tom Nugent today. Vist the Red Money Update for more information.