Joining us now the chairman of O Ventures he's Kevin O Okay first this Kevin we need you that big brain of yours okay stocks stocks are getting hit because of you know ahead of big Tech earnings but also no one knows what the Federal Reserve is going to do tomorrow Kevin whether the fed's going to raise or cut interest rates because inflation.
Is heating up again what do you think the FED does they're not going to cut rates I don't think they'll cut rates again this year I think people should get used to the idea they'll stay where they are longer the fact is and it's very easy to think about this from this perspective the fed's Mandate is 2% inflation not 2 and a half not three not.
3.2 it's two and so inflation is not going down anywhere near two for a bunch of reasons and therefore they will not cut rates and anybody who thinks they're going to cut this year will be mistaken and they keep pushing out their optimism month after month but there'll be no rate Cuts this year I'm investing under the premise that we're going to be.
Living with this rate cycle staying the same for the rest of the year I'm sorry it's just reality yeah so you know what's going on it seems like you know bomic has been hyperinflationary and it's turning into a triple whammy of higher inflation higher rates and now Biden wants higher taxes that's going to hammer working in.
Middle- class families JP Morgan listen to CEO uh Jamie Diamond saying they're not getting lifted up by biomics let's get your reaction to this you know other things will remain to be seen so uh I think some of the American public looks at it like what are they getting so if you go to Rural America or inner cities I'm not sure they feel like they're.
Being lifted up by this economy what do you think Kevin but wait a second Biden said he's going to end the Trump tax cuts that benefited more than nine out of 10 middle class Americans that helped the working class too well I think what Jamie Diamond just said there is that these acts that we put trillions of dollars in the economy.
Notably the chips and Science and the inflation reduction act there was no money in there in either of them for small business America which is Rural America companies that are private between 5 and 500 employees this is what they got zero and so that's a problem meanwhile that money comes flushing out of the skies and helicopters and creates.
Inflation and that hurts them at the kitchen table also raising taxes is not a good idea at this time because we've missed a recession and we don't want to cause one but also when you add taxes to the economy you're taking away government from money from from entrepreneurs and small businesses in America you're you're taking it away.
From them putting it back to the government it's not as fruitful there and it hurts growth and so you want to be kind of middle of the pack in the G20 you want to be in the middle that's where we are right now when you raise taxes you become less competitive and you start seeing corporations particular the S&P 500 contort themselves to move.
Offshore and then we lose jobs so it's not a great idea at this point I don't like tax Heights right now I think we got to wake that out a little bit yeah and you know it's blown on trillions of dollars in government waste we saw that during the pandemic you know so the president he wants to more than double taxes on all small businesses as you.
Point out that would be a nearly 44% rate that means job layup layoffs let's listen to even Senator Bernie Sanders applauding the Trump tax cuts in 2018 listen to this next year 91% of middle- inome Americans will receive a tax cut isn't that a good thing yeah it is a very good thing and that's why we should have made.
The tax breaks for the middle class permanent wait a second he's starting to sound like art laugher Bernie Sanders make them per permanent you know have them go on forever what do you think I think we what should what we should be doing with taxes is just remain competitive make it so that.
People say well you know I can put more money into my business or I can invest in America or I can invest in something else including my savings for my retirement these are all good things and so raising taxes is great rhetoric when you're going into an election cycle but is it pragmatic for the economy post election in my opinion the answer is no.
And so we should actually start looking at policy like this in addition to energy policy foreign policy border security po security policy but no that's not what we're doing we're watching porn star trials in New York right now got it that was a great way to close out that segment woo that was a doozy Kevin o we love you thank you so.
Much for joining us it's good to see you again come back soon
the stupidity of the spending by the gov is inconceivable. Quit the crash and woke crap and open within the route of balancing the budget
Kevin is a con artist. Nobody would possibly perhaps per chance also goal restful name him for any thing. Unbiased no longer worth paying attention to kevin
Inflation has averaged 2.4% each year since 1995 so what payment $20 motivate then costs $38.41 in 2022 so what’s the least bit times wished is 2% deflation for 5-6 consecutive years and no longer a Fed purpose payment of 2% inflation. N'est pas vrai ?