Stunned Wall Street Responds To Biden's Shock Proposal To Double Cap Gains Tax
With stocks tumbling following the report that Joe Biden is considering a proposal that would double the capital gains tax, as investors dump in hopes of locking in existing cap gains rates - an exercise in futility if Biden and the socialists in Congress decide to make such a tax change retroactive to all of 2021 - Bloomberg quickly polled several Wall Street traders who focused on the policy’s implications for investing, and concluded that while it was too soon to panic, prospects of a higher levy on stock profits could spark near-term selling as investors look to skirt a higher rate.
Here are some hot takes, courtesy of Bloomberg:
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
You might want to read up on what capital gains taxes are an how they're applied.Really? Mine is up over 7% since the start of the year, I expect it to keep going up....
The threshold will not remain there. "Others will pay, not you" is only the sales pitch.Oh FFS, @VySky , the proposal is only for people who made over $1,000,000 in the year the gain is made.
Dow books over 300 point loss after report Biden weighing sharp rise in capital gains tax for wealthy
U.S. stocks ended sharply lower on Thursday, following a news report that said President Joe Biden is weighing a proposal which would nearly double the...www.marketwatch.com
Stock market news live updates: Stocks sink after report says Biden will propose higher capital gains tax on the wealthy
Stocks rose for the first time in three days earlier on Wednesday.finance.yahoo.com
I'm not going to be crying any rivers for someone who has to pay 39.6% cap gains because they hauled in a few million in the same year they sold the stock. And frankly, neither of they. All systems in play are so skewed towards the richest that they'll keep on getting richer anyway. They've systemically absorbed the nation's wealth for decades. The CEO pulls in a cool 50 mil, and the line workers have a second full time job and part-time ones on the side.
Enough.
Stunned Wall Street Responds To Biden's Shock Proposal To Double Cap Gains Tax
With stocks tumbling following the report that Joe Biden is considering a proposal that would double the capital gains tax, as investors dump in hopes of locking in existing cap gains rates - an exercise in futility if Biden and the socialists in Congress decide to make such a tax change retroactive to all of 2021 - Bloomberg quickly polled several Wall Street traders who focused on the policy’s implications for investing, and concluded that while it was too soon to panic, prospects of a higher levy on stock profits could spark near-term selling as investors look to skirt a higher rate.
Here are some hot takes, courtesy of Bloomberg:
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
"concluded that while it was too soon to panic"
It's never too soon to panic with Sleepy Joe's puppets in charge. The deep state be hittin them 401ks!!
The threshold will not remain there. "Others will pay, not you" is only the sales pitch.
You might want to read up on what capital gains taxes are an how they're applied.
Really? Mine is up over 7% since the start of the year, I expect it to keep going up....
Oh FFS, @VySky , the proposal is only for people who made over $1,000,000 in the year the gain is made.
Dow books over 300 point loss after report Biden weighing sharp rise in capital gains tax for wealthy
U.S. stocks ended sharply lower on Thursday, following a news report that said President Joe Biden is weighing a proposal which would nearly double the...www.marketwatch.com
Stock market news live updates: Stocks sink after report says Biden will propose higher capital gains tax on the wealthy
Stocks rose for the first time in three days earlier on Wednesday.finance.yahoo.com
I'm not going to be crying any rivers for someone who has to pay 39.6% cap gains because they hauled in a few million in the same year they sold the stock. And frankly, neither of they. All systems in play are so skewed towards the richest that they'll keep on getting richer anyway. They've systemically absorbed the nation's wealth for decades. The CEO pulls in a cool 50 mil, and the line workers have a second full time job and part-time ones on the side.
Enough.
43%Oh FFS, @VySky , the proposal is only for people who made over $1,000,000 in the year the gain is made.
Dow books over 300 point loss after report Biden weighing sharp rise in capital gains tax for wealthy
U.S. stocks ended sharply lower on Thursday, following a news report that said President Joe Biden is weighing a proposal which would nearly double the...www.marketwatch.com
Stock market news live updates: Stocks sink after report says Biden will propose higher capital gains tax on the wealthy
Stocks rose for the first time in three days earlier on Wednesday.finance.yahoo.com
I'm not going to be crying any rivers for someone who has to pay 39.6% cap gains because they hauled in a few million in the same year they sold the stock. And frankly, neither of they. All systems in play are so skewed towards the richest that they'll keep on getting richer anyway. They've systemically absorbed the nation's wealth for decades. The CEO pulls in a cool 50 mil, and the line workers have a second full time job and part-time ones on the side.
Enough.
Markets go up and down, that is expected and should be factored in. I have a 401(k), a Roth and an IRA that has funds with good dividends that get re-invested. And, I have zero debt, the mortgage has been done for a few years, no car payments, and I keep a strong cash position.The markets are way, way overvalued right now, so it is a given there will be a correction at some point.
Don't know, but if forced to guess I'd say an inheritance.Why do you think I also have a healthy Roth, and a nice cash balance in the bank?
My 401k is up 6.93% since Biden took office. Only fools think that the president has much to do with the economy or stock market regardless of who the president is. In fact, for the post war era, the markets have performed much better on average under Dems than Republicans. That has nothing to do with anything though other than chance. You have to go all the way to the local level to see government making a meaningful difference either way on economic growth.
Just put your 401K into an assortment of index funds and put as much as you can afford into it every year and you will be good upon retirement.
Hold on. There are occasional exceptions. An administration absolutely can make things worse.
For example, the type of financial deregulation the Bush administration pushed through made it possible for the mortgage bubble to expand exponentially and ultimately explode, knocking the markets on their asses.
Really should have sent the Bat Boy in to look for WMD. Would have saved a great deal of trouble.
Zero Hedge? I mean, really?
They no doubt accidentally publish something truthful now and then, but if they report that the sky is blue you should probably double-check just to be sure. At any rate, with Biden only proposing to bring the corporate tax rate half way up to where it was, I seriously doubt he's going to push for (let alone get) a doubling of cap gains.
No inheritance, what a petty thing to say.Don't know, but if forced to guess I'd say an inheritance.
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