Robert Kiyosaki: The GOP Tax Cut Won't Boost Savings
Entrepreneur and author of "Rich Dad Poor Dad," Robert Kiyosaki joined Cheddar to discuss his views on why the rich are getting richer!
The businessman explains that the lack of financial education in schools is a major contributor to the poor paying higher taxes. Kiyosaki says that people like himself and President Trump are rich and many others are not, because of financial literacy.
The less one knows about how to use debt and other tax-related loopholes, the more likely you are to end up paying more.
When asked about former co-author and president, Donald Trump's proposed tax cuts, he says he doesn't believe it's going to put more money back into the average person's wallet.
On the other hand, charity investments, knowledge of tax exemptions, and the likes, are rich people's way around paying taxes. He cites the system as unfair, but says someone has to pay taxes, an onus usually placed on the poor.
When it comes to charitable giving, Kiyosaki explains that a charitable remainder trust is a way to manage how your tax money is distributed. He says that charity is an essential part of being human, and people should prioritize giving to charity before paying off any debt you have.
Kiyosaki said that if he were to die today, his charitable remainder trust is set to give back $35 million yearly in perpetuity, to the causes he cares about.
With hype continuing to build for A.I. projects, expert insight on what companies seem poised to benefit, plus how it will impact the lives of everyday consumers.
Ford says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth. The automaker said about 1,400 workers will be impacted by the move.
Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders.
Despite concerns about shipping delays in the Red Sea, RSM Chief Economist Joe Brusuelas says there are still reasons to be optimistic about the state of the U.S. economy.
Dan Ives, Managing Director and Senior Equity Analyst at Wedbush Securities dives deeper into a report by the International Data Corporation (IDC) that Apple has ended Samsung's 12-year reign as the world's largest smartphone seller.
Artificial intelligence is the biggest buzzword at the World Economic Forum’s annual meeting in Davos. Advances in generative AI stunned the world last year, and the elite crowd is angling to take advantage of its promise and minimize its risks.
Smartphones could get much smarter this year as the next wave of artificial intelligence seeps into the devices that accompany people almost everywhere they go.
