The Capitalist Investor - Episode 139 It’s been a crazy week. Honestly, it’s been a crazy month and ultimately, a crazy year. In Episode #139 Derek, Tony, and Luke discuss current events that pertain to your money, your life, and your investments. Part of the “Inflation Reduction Act” was $80 Billion dollars to increase the size of the IRS. Are they going after the billionaires or are they going after mainstreet America? What’s the problem with government spending and how does it compare to the past? Productivity numbers in the United States came in the lowest ever. What does that mean for companies trying to grow and the unemployment rate? All you hear in the news right now is the FBI raid on Trump’s Mar-A-Lago residence. How will that impact Trump running in 2024? Find out all of these questions and more on this week’s “The Capitalist Investor”.IRS Coming For You – Inflation Reduction ActOne of the big focus points about the Inflation Reduction Act is the tax credits it gives out to Electric Vehicles. On the other side, the act also raises taxes on all corporations, including small business. But what about the other $80B dollars that is being printed from the act that increases the size of the IRS? The government is trying to higher 80,000 more IRS “agents” to increase the governments tax revenue. They are also planning on equipping these IRS agents with guns and ammunition, which sounds odd. One of the big questions is who they are targeting with these new hires? Will it be millionaires & billionaires, or Main Street America? Broadly speaking, you can say that the government has gotten a lot bigger over the years and this is another way that they are trying to grow. The other issue that needs to be talked about more often is the issue of privacy. How far can and should the government go to look through bank account records, tax records, personal information?Productivity Lowest Ever In HistoryProductivity numbers within the United States came in at the lowest they’ve ever been. At the same time, the cost of labor is also dramatically increasing. If you’re a smart business owner, you wouldn’t hire somebody for more money for essentially negative productivity. How do these productivity numbers shed light on what’s to come in the near future? We are already seeing massive layoffs in the technology space with Amazon laying off over 100,000 workers that nobody talks about. Companies are going to need to start getting strategic to add productivity back to their business. People are hiring unqualified people for jobs which is also impacting productivity in the United States. How is productivity so low when a lot of people are getting two jobs to live their life to combat inflation?Connect With Mark TepperTwitter: @MarkTepperSWPFollow Mark on LinkedInSend Mark a message hereThe SWP Connect YouTube ChannelConnect with Derek GabrielsenTwitter: @DerekGabrielsenFollow Derek on LinkedInSend Derek a message hereCheck out Derek’s YouTube channel!Connect With Luke LloydTwitter: @LloydBoyLukeFollow Luke on LinkedInSend Luke a message hereThe SWP Connect YouTube ChannelConnect with Tony ZabiegalaTwitter: @TonyZabiegalaFollow Tony on LinkedInSend Tony a message hereThe SWP Connect YouTube channel!Send your questions and comments to us at info@SWPConnect.comSubscribe to The Capitalist Investor
