United States President Donald Trump has said that he will announce a tax plan soon, one that will likely consist of tax cuts, though not for the rich.
A tax cut is always welcomed, but what about spending cuts? That is what former Texas Republican Congressman and three-time presidential candidate Ron Paul is asking.
It is great when the government gives you back more of what it stole. However, if the government doesn’t offset that with cuts then the budget deficit will balloon and the national debt will go up even more. Essentially, every piece of spending is a tax on the American people, now or in the future.
Since Trump has never really gone into detail about spending cuts, it is rather probable that you won’t see any of them over the next four years.
Here is Dr. Paul’s interview in the video embedded below (he makes an interesting point about P/E ratio):