Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Understand Tax Code Changes

13 Aug 2024 · 1 min

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Richard Canfield explains how small tax policy shifts create delayed economic ripples that are hard to predict. The tax code's complexity means most people can't assess how changes actually affect them.

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When you look at things from an economic standpoint and behavior, there's so many pieces. This little item right here has a trickle down effect, and often we don't even see the impact of that trickle down effect for several years until it begins to move its way through the market condition.
That's why it's impossible to keep track of all these minor code sections that get added and changed and modified. It's just impossible. How does that impact you? Is really the key message to really look at. So if you look at something like a tax policy change on your specific circumstance, how many people who actually has the literacy as it relates to the complicated tax code, to understand how that's going to their specific level, it's very hard.