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.

Read full article

Stock Forecasts

XLYView XLY chart on TradingView

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.

XLIView XLI chart on TradingView

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.

Related News

Tampa's 'American Social' survives Hurricane Miton, reopens: 'One of a few' | Fox Business Video

American Social owner Rick Mijares says thousands are without power and many residents remain displaced in the aftermath of Hurrica

XLY

Housing inflation eased in September in 'sharp reversal' from previous month

Oct 10, 2024, 11:29 AM

Shelter cost increases cooled on a monthly basis in September, an indication the most stubborn contributor of inflation may finally be giving ground.

XLY

Here's the inflation breakdown for September 2024 — in one chart

Oct 10, 2024, 10:52 AM

Inflation fell in September as gasoline prices declined and housing inflation moderated, according to the consumer price index.

XLY
QQQ
SPY