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“Nothing is certain in life but death and taxes.” -- Benjamin Franklin
During the July 4 weekend, my new book, “THE GREATEST AMERICAN,” was the number one pick on C-SPAN BookTV. My interview with Peter Slen (see below) was shown four times, a grand slam.
If you missed it, you can watch the half-hour interview here: [The Greatest American] | Video | C-SPAN.org.
Orders overwhelmed Amazon, which is temporarily “out of stock,” so if you would like a copy immediately, go to Skousen Books at Discount. Pay only $24 ($19 for additional copies), and receive an autographed copy plus a rare Franklin stamp with every order.
“Your new book is both entertaining and educational. There was a lot I didn’t know about Ben Franklin. It deserves to be on everyone’s coffee table. Of all the founders, he can truly bring America together again.” -- Marc Eliot, Hollywood’s number one biographer.
Taxes Going Up?
Amazingly, President Donald Trump was able to push Congress to vote for his signature tax legislation, which he signed on July 4 as promised.
Most of the legislation prevented a $4 trillion tax hike, since most of the Trump tax breaks were set to expire next year. Most tax rates will stay the same on corporate and personal income, capital gains, interest and dividends.
Meanwhile, one tax bill is skyrocketing: tariffs. President Trump has discovered an easy way to tax the American people and bring in trillions in tax revenues without too much complaining. He is misguided in his love of protective tariffs. He is thrilled by this chart.
America’s New Money Machine
Trump boasts of this dramatic increase in tariffs, which are nothing more than taxes paid for by American businesses and consumers. The average tariff rate is now five times higher than what it was before he took office.
Amazon just announced that they have had to raise prices an average 2.6% so far in response to the tariffs. How is that supposed to make America prosperous again?
Trump has used his one-man executive authority to impose 50% tariffs on steel and aluminum, and now has added copper to the list. These tariffs will dramatically increase the cost of producing products in America. It will create some new employment, but more jobs will be lost in industries that use these basic metals.
It now appears that Trump is in fact a protectionist, and that the reciprocal trade agreements with other countries are resulting in HIGHER tariffs across the board compared to last year, not lower barriers that we economists want. |
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How Much Money Will YOU Make When Gold Hits $5,000 From dwindling supplies caused by environmental mining restrictions and central bank hoarding… to global uncertainty regarding President Trump’s policies… and stubborn inflation… Gold in the midst of a perfect storm. One that could easily send the pricing soaring to $5,000 an ounce, or possibly even higher. And my top investing expert, Dr. Mark Skousen, has found two investments that could hand investors gains of up to 2,066%.
Get the full story here. |
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What Is the Ideal Tax? See My New Essay
What is the best, most efficient way to pay for legitimate government policies? I teach my students the only and one correct principle of taxation. It’s called the Benefit Principle, or the User Pay Principle. If you benefit or use the product or service, you should pay for it. The more you benefit, the more you should pay.
I believe the ideal tax is a flat tax on income, sales, real estate, etc. In the early days of the Republic, the federal government depended on tariffs and duties to pay for public services. Government was relatively small and tariffs didn't hurt the U.S. economy, largely because the vast majority of goods and services were made in America, and benefited from a huge free-trade zone between the 50 states. Today, imported products and inputs play a substantial role in the U.S. economy.
I just finished publishing an essay on “The Case for a Free and Prosperous Society” in the July issue of Skeptic magazine. In it, I demonstrate what is the optimal size of government and how to pay for it. It’s available for free online here: The Case for a Free & Prosperous Society.
The Trump Tax Policy: The Good, the Bad and the Ugly
It’s possible that because of Trump’s new tax law, the Democrats could take the house in 2026, and maybe even the Senate. Not a single Democrat voted for the bill, complaining about the cuts in Medicaid programs and “giveaways” to the rich.
I also have mixed feelings about it. The new legislation is way too complex (I prefer Steve Forbes’ Flat Tax idea), and it won’t do anything to reduce the national debt. If anything, it will get worse. As Ben Franklin warned, “no revenue is sufficient without economy.”
The Trump legislation will dramatically increase the budget for ICE, the Immigration and Customs Enforcement (ICE), to $75 billion. Nobody complains about removing illegal aliens who have a criminal record, but now ICE is going after illegals who have regular jobs, pay taxes and have been integrated into America.
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5 BIG opportunities ahead While headlines scream about market volatility, VantagePoint A.I. quietly identified 5 American A.I. companies positioned to capture $631 billion in the artificial intelligence boom. CoreWeave's $25.9 billion revenue backlog signals massive institutional demand building behind closed doors.
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16 Hidden Gems in the New Trump Tax Law
But let’s not forget that there’s some great benefits that every American should applaud. Consider: In the daily Unleash Prosperity Hotline, Steve Moore came up with 14 gems. I’ve added two more below.
Here’s Moore’s list of hidden gems: - Implements work requirements for able-bodied Americans receiving taxpayer-funded benefits. It expanded Medicaid work requirements to apply not just to able-bodied, childless adults, but also to parents of children over the age of 14.
- Reverses electric vehicle subsidies set by radical climate activists.
- Opens federal lands and waters to oil, gas, coal and mineral leasing.
- Extends tax relief for small businesses by making the 20% 199A exclusion permanent.
- Renews and expands 100% immediate expensing for equipment and machinery.
- Increases the endowment tax on large universities.
- Cancels Biden’s illegal, unfair student loan bailouts.
- Requires states to pay a higher match for food stamps and strengthens work requirements.
- Expands health savings accounts to give Americans greater choice and flexibility in how they spend their money.
- Incentivizes school choice scholarships that empower American families and students to choose the education that best fits their needs.
- Ends requirement that Venmo, PayPal and others report transactions over $600 to the IRS.
- Holds universities financially accountable to the government on defaulted federal student loans.
- Increases timber sales on federal lands.
- Authorizes the sale of expanded spectrum to strengthen rural broadband and secure America’s technological dominance.
I would also add the incredible long-term benefit of the new Trump Investment Accounts. These are tax-free accounts where the federal government grants $1,000 to each new child born in the United States that is invested in the S&P 500 Index. At any time, employers can add an additional $2,500 per year in these special IRA accounts.
Plus this one: “Increases the estate and gift exemptions to $15 million per individual and $30 million per couple, indexed for inflation. This change is made permanent.”
Upcoming Appearances
I will be speaking next week at the Las Vegas MoneyShow Masters Symposium, July 15-17, 2025 at Caesars Palace, and autographing copies of my new Franklin book. Speakers include Louis Navellier, Mike Larsen, Roger Conrad and Mark Mahaney (a brilliant tech expert who I met on the Forbes cruise).
You can sign up for the special rate of only $199 per person by calling 1-800-970-4355, and using the code FREEDOMSPECIAL. For more details on speakers and the program, go to MoneyShow Masters Symposium Las Vegas - July 15-17, 2025.
See you in Vegas next week.
The #1 Coffee Table Book!
Don’t forget to display your copy of “THE GREATEST AMERICAN” on your coffee table. I’m starting a campaign to make it the #1 coffee table book during the 250th anniversary of our nation’s founding. Post pictures on Instagram and social media! Here is my latest press release: 'The Greatest American' Goes Viral: Dr. Mark Skousen, Economist, Launches #1 Coffee Table Book Campaign.
Good Investing, AEIOU,
Mark Skousen
Doti-Spogli Endowed Chair of Free Enterprise, Chapman University
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Amazon Booksellers Is No Longer Prime Time By Mark Skousen
Editor, Forecasts & Strategies
As a mail-order publisher, one of my favorite suppliers is U-Line. When I need another box of envelopes, I call their 800 number and am immediately connected with a representative. No dealing with voice messages or pushing various buttons. In less than a minute, I finish my order, pay with a credit card on file and the box is delivered the next day by UPS.
With Amazon, it’s just the opposite. They claim that their core mission is to be “Earth's most customer-centric company."
No longer. They may be able to deliver lots of goodies practically overnight, but when it comes to their original mission, selling books, they are simply too big and bureaucratic, and are anything but customer friendly.
They are a disaster to work with. My publisher and I have tried to get them to fulfill my latest book, "THE GREATEST AMERICAN." You would think that a provocative title like this one could get their attention and make sure they have plenty of copies in inventory.
If you go to www.barnesandnoble.com, it’s in stock.
If you go the www.thriftbooks.com, it’s available immediately.
If you go to http://target.com, it will be shipped in two days.
If you go to www.abebooks.com, it's in inventory.
If you go to www.booksamillion.com, it’s ready to be shipped.
But if you go to www.amazon.com, it says “usually ships in one to three weeks.”
In the past three months, since my book was published, Amazon has repeatedly run out of copies. As I write this column, they say they are “temporarily out of stock” and “usually ships in one to three weeks.” Who in their right mind would bother with Amazon given such a delay?
We tried to notify Amazon that I would be on the popular Glenn Beck Show, or later C-SPAN BookTV, to make sure they had plenty of copies on hand after my appearance.
I was on BookTV four times last Sunday. My book was the #1 feature. But to no avail. Throughout the day, Amazon didn’t have a single book to mail. Its ranking didn’t move.
Their algorithm is based entirely on past sales history; their computers can’t anticipate a rush of orders coming from a future appearance on a big show.
They’ve become super stingy when it comes to maintaining an inventory of books. Recently, they put in an order for my “Maxims of Wall Street,” now in its 11th edition. In the past, they have ordered a dozen copies or more at a time; this time they asked for one copy! The cost of shipping them one copy would be more than the commission I would earn from Amazon. I turned them down.
It’s virtually impossible to get their attention. You can’t talk to a real person at Amazon without going through numerous channels and automated messages.
My establishment publisher, Republic Books, works through Simon & Schuster. Neither one could help.
It’s a sad state of affairs dealing with a company that got started as an online bookseller.
Amazon needs to change its image from the “everything store” to the “nothing store” when it comes to books.
Thankfully there are competitors. I urge you to skip Amazon and go elsewhere. |
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About Mark Skousen, Ph.D.:
 Mark Skousen is an investment advisor, professional economist, university professor, author of more than 20 books, and founder of the annual FreedomFest conference. For the past 40+ years, Dr. Skousen has been investment director of the award-winning newsletter, Forecasts & Strategies. He also serves as investment director of four trading services: TNT Trader, Five Star Trader, Low Priced-Stock Trader, and Fast Money Alert. |
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