Posted on 04/22/2021 12:25:26 PM PDT by SeekAndFind
That would only happen if government bothered to preserve the value of the dollar by tightening the money supply and raising the prime lending rate.
one finger joe will happily destroy capitalism as payback to the radical left for getting him elected. It has begun.
If Biden is so concerned about workers paying a rate higher than wealthy people, who make most of their money from capital gains, then he should drop the top income rate to 20%, rather than raising the gains rate to 39.6%.
But of course, that would be pro-freedom and all that other pre-Woke Commie hoopla.
Exactly.
Many of our current problems would disappear.
Big deal. With that kind of news it should have dropped 1000 points.
It’s almost like words mean things.
The difference is subtle. The legacy is being created, that’s for sure. Who is doing it? That’s the question. I doubt it’s him. He’s just there as the face of it.
These guys wanted a return to Obama 2.0 with Biden. The stock market may oblige and return to where it was in 2009.
This stuns me. Every policy that the leftists are getting hurts a free economy and the market.
The little guy with all their retirement savings in the market will be the worst hit.
At what point point do I say @%#$% that...and quit trading?
Then they don't get 43% of every dollar I make in the stock market....
If you figure Property, Sales, Gas, Utility, etc...etc...I'm already paying over 50%...prolly more.
I'm not going to keep doing this....The risk is all mine...they are just the leeches....
Unfortunately, given the current size of the federal government, that sales tax would likely be a monster. For example, the Fair Tax solution would be 30% on all goods and services, a rate high enough that all earners would get a basic government check — the largest welfare program in the country — to cover basic expenses. And some people estimate that that 30% wouldn’t be enough; you would need something as high as 50% to 60%.
A principled conservative by the name of Bruce Bartlett has estimated that once your sales tax goes up above 10%, you start to get significant diversions into black market activity.
Such a fair tax is much better imposed at the state level, IMO, where the budgets are a tiny fraction of the federal budget.
Gosh. Who could have foreseen this outcome??
He said this during the campaign and now people are surprised.
These leftist are a disaster. Good grief!
Conundrum. Pull out of stocks and put where? Cash? Inflation makes that a loser. Bank savings/CDs? The interest they offer is pitiful vs inflation, but better than a mattress in some regards. Physical gold? I have some (or had...boat accident), but right now, it's kind of a pain to turn back into cash, although it could perhaps BE cash when we go full Zimbabwe.
The free world we knew is crumbling. I have no ideas. Pray. Know how to farm or live off the land.
Or take the chip.
>>Watch for further drops as people start realizing that stocks have been propped up by worthless fiat paper.<<
I couldn’t agree with you more. The markets are being artificially propped up by the not-so-federal-reserve purchases of debt.
There will be a pullback...how much, anyone’s guess. March 2020 the markets sank to 18K+-. That was an entry point. I did very well when markets recovered.
Lookin for that next opportunity.
Back in the market, just avoid wash sale rules. The point is to take your gains to date at the lower rate.
“All provisions under discussion would keep the tax rate on individuals earning $400k per year or less steady, in keeping with a promise made during the campaign. During his briefing in Pittsburgh, Biden said he would remain open to all revenue suggestions, so long as they don’t violate this one rule.”
Not long ago the administration said it was 400K for families, not individuals. Who’s lying?
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