-- He thinks rather then talking about taxes on 2% rich, discussions should be around the cuts in entitlements and other spending which is getting everything out of control.
-- Congress is not talking about actual cuts but reduction in the rate of spending, and that will not be enough.
-- Cuts in spending will be bad for the economy.
-- Spending is mainly driven by defense, Social Security and Medicare programs.
-- Gradual increase in age over time and that means testing will be one of the easier ways to control entitlement spending.
-- How he is preparing given the coming up tax increases: Yes, he has sold some things and made some charitable contributions before the tax increases coming up next week.
Credit and source: www.bloomberg.com, Bloomberg
Here is the video:
Also check out:
- Wilbur Ross Undervalued Stocks
- Wilbur Ross Top Growth Companies
- Wilbur Ross High Yield stocks, and
- Stocks that Wilbur Ross keeps buying