Trump’s tax plan will make ‘everything more affordable’: Brian Wesbury
Brian Wesbury, chief economist at First Trust Advisors LP, discusses Donald Trump's proposed tax plan which aims to eliminate taxes on overtime pay. Wesbury argues that this change could lead to increased disposable income for workers, allowing them to afford more goods and services, thereby stimulating economic growth. Wesbury believes that the tax reform will make overall expenses lower for consumers, potentially boosting the economy by improving affordability across the board.
Stock Forecasts
XLY
Positive
This potential tax plan could lead to increased consumer spending, as individuals would retain more of their earnings. This might generate positive sentiment in the market around companies that stand to benefit from increased consumption.
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Negative
While the removal of taxes may initially sound beneficial, it could lead to higher labor costs for businesses, which might negatively impact stock performance in labor-intensive sectors.
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