Will it work? Will the Ultra Rich pay actually pay higher taxes,
…or will they simply find better ways of hiding their money?
Ah, what a difference a quarter makes. We’re just past the first quarter of the Biden Administration and Democrat House majority with a split Senate with tie-breaking votes cast by Kamala Harris. Arguably, we may be looking at the virtual antithesis of the Trump Administration. And along with this shift comes the old tired tune of “Tax The Rich.” Except in this case to make it more palatable, the theme has been tweaked to “Tax the Ultra-Rich.”
A fair question to ask is, “Will it work? Will this latest Democrat scheme actually extract money out of the so-called ultra-rich in the form of their paying more taxes?
Or will the ‘ultra-rich’ simply find better ways of hiding their money?
Enlightening us on this topic is Economist Jack Haney, CEO of Patriot Gold Group.
Q&A:
- Jack, have you been hearing from any of clients any concern over Elizabeth Warren’s proposed Wealth Tax or Biden’s Tax Plan?
- How will Elizabeth Warren’s wealth tax affect those earning less than $200,000/year?
- Will Biden’s aggressive tax hikes adversely affect the stock market and if so, how?
- Are Wealthy Investors preparing ahead of these proposed tax hikes?
- How could a tax hike on the uber wealthy affect American’s that aren’t wealthy? Should they be concerned?
- Billionaire Leon Cooperman told CNBC Squawk Box hosts what he thinks of this new proposed tax saying Sen. Elizabeth Warren’s wealth tax on “ultra-millionaires” is a terrible idea because people will simply hide their wealth. Do you agree? And elaborated if you could.
- Where may we get further information on this topic and other financial topics?
Answer: In short, Warren’s tax scheme would levy a 2% annual tax on overall assets for those worth more than $50 million, and 3% on those worth over $1 billion, raising over $78 billion per year, according to an analysis by Bloomberg. Additional info at: PatriotGoldGroup.com
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 25+ years and is widely heralded as an expert in his field.
Jack was born and raised in Westchester County, NY. Jack subscribed to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under Investor’s Business Daily founder William O’Neill.
Jack Hanney went on to be the General Manager and Director of Sales at several algorithmic automated trading companies trading the futures and commodities markets working with Introducing Brokers out of Chicago, Geneva and NYC. Jack was recruited by several tech startups and made a name for himself at Infosearch Media, Virtumundo and The Design People before returning to Finance. Jack passed on Morgan Stanley and other reputable, prestigious Brokerage firms to be a CFP in their Wealth Management Divisions and opted for a position as Senior Executive Trader with MG Private Client Services where he spent 4 years 2010-2014.
Jack Hanney had spent two years as Director of Trading, Executive Vice President of WDM overseeing the Retail Division before cofounding Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over half a billion dollars in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner. Jack resides in Los Angeles, California with his wife Amy and is the proud father of his two daughters, Kate age 13 and Luna age 21 & their two dogs Roxy & Daisy.
CONTACT: To schedule an interview with Jack Hanney, email contact Special Guests: Celinda Hawkins (Eastern Time shift) cemison@gmail.com or Tamara Colbert (Pacific Time) at: 626-244-5571 Tamara@ohsweetliberty.com
100 Guests/Topics: https://specialguests.com/guests-topics/
