How the Upcoming Election Will Impact Our Taxes – Tom Wheelwright & Scott Hodge

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Join Tom Wheelwright as he discovers how tax policy influences your life, how it harms – and sometimes helps – the economy, and what changes are in store in this year’s election with his guest, Scott Hodge.

Scott Hodge is President Emeritus & Senior Policy Advisor at the Tax Foundation, which he led as President for over two decades, between 2000 and 2022. Scott Hodge is recognized as one of Washington’s leading experts on tax policy, the federal budget, and government spending.

In this episode, learn how class warfare has a huge impact of the future of the tax code, predictions for 2025 / 2026, and the advice Scott has for the small business community.

Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at:

00:00 – Intro.
02:48 – Taxes on Free Will.
09:00 – Current examples of Taxocracy.
11:40 – History of Political Favors & Punishment.
14:44 – Biggest concerns in Biden's Budget.
19:36 – Small Business Tax Provisions in Biden's Budget.
22:50 – Corporate Tax Increase.
26:17 – 2025-2026 Predictions.
30:05 – Advice to Small Business Owners.
32:10 – Inflation Reduction Act.
36:40 – Employee Retention Credit.

Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax.

Tom’s Book: Tax-Free Wealth
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Books: “Taxocracy: What You Don’t Know About Taxes and How They Rule Your Daily Life”

DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.

Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

Cameron Long

  • @mferr84929 says:

    Nice try. Just pay your taxes like we all do.

  • @mferr84929 says:

    This is not a free market economy. If it was the government would have let the markets do its work and let companies fail that doesn’t do right. If you really believe in free markets that wouldn’t happen. It’s just a hand out.

  • @CARBONTV_ says:

    Please hit the like button

  • @CARBONTV_ says:

    Thank you for a great conversation

  • @marilyn4274 says:

    Trump is planning on getting rid of taxes!

  • @mR-dc4oq says:

    I still have trouble justifying people like Besos and Musk being worth hundreds of billions of dollars.

    • @tarawaukeri8928 says:

      Try thinking along the lines of being a successful seller.
      Sell on a massive scale, not just national consumers but the population globally! Then, sell to the biggest institutions as well, international governments!

  • @rogerstancill5080 says:

    This guy starts out by ‘assuming’ taxes are legit and a way of life. BS

  • @Scuba-D says:

    Make Tax 1776 Again

  • @WhiteRaven12773 says:

    i agree .. i need more gains as a poor person but a decent saver .. so with the consumption based taxes sounds like a delight to me but no carbon tax .. its a job killer

  • @williammiller9813 says:

    S9 aoc will give up all of her income 🤣🤣🤣🤣

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