Landmark Capital CEO David Fischer joins Kevin McCullough to discuss the previous week in the financial markets. Overall stocks are down, due in part to GE stocks performing at their lowest since 2012. Also there is a battle in the Senate over the 2018 tax plan. Mainly they are debating new tax standards for 401k and IRA retirement accounts.
2018 Tax Plan Update
David appears @ 38:30
– Stocks are down due in part to GE stock is down to 2012 levels and the Senate is adjusting the tax bill.
– Battle over 401k’s and IRA’s. Senate wants to cut contributions.
– Senator Hatch proposed Government retirement plans get a 10% penalty for early withdrawal.
– Senator Brown introduced a bill to bail out insolvent pensions.
– Congress will be forced to buy treasuries to bail out these pensions, which once the markets corrects there will be a massive sell off and it will be a mess.