It truly is the Bernie Sanders presidency, as this is only the beginning. Can’t say I have much sympathy for the Democratic donor class, as they voted for this. Unfortunately, the rest of us will also have to suffer with a White House that’s hell bent on crushing the economy during a pandemic.
https://www.bloomberg.com/news/articles/2021-04-22/biden-to-propose-capital-gains-tax-as-high-as-43-4-for-wealthy?utm_content=business&utm_source=twitter&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-twitter-business
Better get used to more stock drops.
https://www.msn.com/en-us/money/markets/stocks-sink-on-worries-over-higher-taxes/ar-BB1fWwfC
1 Like
Tanking? The market is at 33k. Sounds like pure BDS.
Boo hoo, rich stock brokers might have to pay more taxes on their monopoly money gains, I’m devastated.
2 Likes
Oh no … how will the wealthy survive?
2 Likes
zantax
April 22, 2021, 8:40pm
4
By not taking a profit until after Joe is history and so is his tax.
4 Likes
The fallacy in this line of thought is the belief that Democratic tax hikes don’t impact people that aren’t one-percenters.
1 Like
GWH
April 22, 2021, 8:52pm
6
Yes, he’s tanking it with words.
If it had a chance of passing, we’d be down 2,000 points,” said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC.
Adam
April 22, 2021, 9:03pm
7
Oh no. Stock market only up 10% since Biden took over three months ago.
1 Like
Oryx
April 22, 2021, 9:56pm
10
WuWei:
I have a 401k
I thought 401ks were exempt from capital gains taxes?
WuWei
April 22, 2021, 9:59pm
11
They’re not exempt from the market.
6 Likes
Anyway the the lord the drop wasn’t as bad as the day the Dow dropped 1,777.57 points, equivalent to a 7.55-percent drop, under the previous guy
2 Likes
Guntsu
April 22, 2021, 10:08pm
14
While true very few folks have sizable investments outside of a 401k or IRA, typically folks that have large non-qualified investments account’s tend to be the upper class
Jezcoe
April 22, 2021, 10:10pm
15
How will the very wealthy ever get by?
1 Like
What percentage of the market is owned by what percentage of the population and what’s their income
Jezcoe
April 22, 2021, 10:12pm
17
It is a crazy statistic you are bringing up there.
2 Likes
That’s one of the funnier things i have read on here.
Day traders and short term traders will not disappear.
conan
April 22, 2021, 10:27pm
19
Donald Trump once said if you raise my taxes I’ll invest my money, if you lower my taxes I’ll spend more money. Either way I win.
1 Like
Today: SPY is down .91%
L O L
It’s called a dip, buy it.
1 Like