By Zach Scheidt
This post Trump. Cuts. Taxes. appeared first on Daily Reckoning.
You finally made it!
The day you’ve been waiting 6 months for has finally arrived!
(Live From Daily Edge Headquarters: Trump’s Tax Announcement!)
It’s official. Slashed corporate tax rates and repatriation is on the way!
The Trump administration released their tax plan yesterday which just created HUGE opportunities for your financial future — if you own these Trump tax stocks…
For weeks we’ve talked about uncertainty controlling the markets.
There’s uncertainty regarding North Korea’s dictator with his hand on a nuclear trigger. There’s uncertainty regarding the Middle East and the seemingly endless wars happening in the region. And then there was the uncertainty regarding our own government…
Trump talked a big game during election season, but hasn’t been able to back up the talk on the major issues investors care about.
First was the struggle over health care. Trump was adamant on repealing and replacing ObamaCare during the campaign season, but so far hasn’t had any luck. Even though Republicans control all houses of government, they were still unable to cooperatively pass a viable bill. This left massive doubts in the minds of investors regarding the future of the Trump rally.
And the worst part, this health care failure lead to delays in the reforms that Wall Street cares most about — taxes, repatriation, and deregulation. Through 96 days of the Trump presidency, investors have been left in the dark regarding the future of their retirement accounts…
But you know the saying, 97th day is a charm.
Because yesterday, the 97th day of Trump’s presidency, his administration laid out the groundwork for the tax plan that the Trump rally was built on — finally validating the massive 17% run-up that the Dow has had since November. And let me just say, what a wonderful time it is to be invested in the markets.
Here are the details you need to know…
The proposed tax plan has two parts — an individual side and the corporate side.
On the individual side, Chief Economic Advisor Gary Cohn laid out a potentially simplified tax code highlighted by three main points:
Simplified tax system consisting of three brackets
Reducing the capital gains tax from 23.8% to 20%
Instituting a 0% tax rate on the first $12,000 earned per person
All sounds well to me, but it’s this next part that is going to move the needle on your retirement account…
On the corporate side, Treasury Secretary Steve Mnuchin laid out a massive tax cut that would drop the corporate tax rate to 15% — a BIG improvement from today’s 35% corporate tax rate, which currently ranks third highest in the world.
In addition, he mentioned a “very competitive repatriation rate” that would encourage trillions of dollars to flow back into the U.S. economy. Unfortunately, no specific tax rate was given on repatriated funds, so you’ll have to stay tuned for future announcements.
But with that being said, I’ve picked out three companies that stand to benefit the MOST from this tax plan. These companies have …read more
Source:: Daily Reckoning feed
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