Joe Biden

[failos]

Just now, st1ckboy said:

Do you have a rough estimate of when it will "go down to Chinatown?" 

Every time Biden opens his mouth, which is not often fortunately.

[failos]

And if the capital gains tax passes, obviously 

[St1ck]

Just now, Φαήλος said:

Every time Biden opens his mouth, which is not often fortunately.

Ok. I'll keep my ears and eyes open for that. Thanks! 

[failos]

1 minute ago, st1ckboy said:

Ok. I'll keep my ears and eyes open for that. Thanks! 

You probably lap up every word he utters, but you’re welcome. Just looking out for you, big dawg

[St1ck]

Just now, Φαήλος said:

You probably lap up every word he utters, but you’re welcome. Just looking out for you, big dawg

You don't mind if I hit you up for advice from time to time do you? Not just market stuff. I'm talking about anything. 

[Blarg]

Always use a new condom. You wouldn't want to make the same mistake as your parents.

 

[UndertheHalo]

Losing my mind at the idea that people who make more than $526K a year might pay a 39.6% top marginal tax rate instead of the current 37%.  Also, I make $65K a year and my biggest political concern is that Disneyland has wokeified the jungle cruise ride. 

Edited April 23, 2021 by UndertheHalo

[failos]

6 minutes ago, UndertheHalo said:

Losing my mind at the idea that people who make more than $526K a year might pay a 39.6% top marginal tax rate instead of the current 37%.  Also, I make $65K a year and my biggest political concern is that Disneyland has wokeified the jungle cruise ride. 

I don’t think you understand what capital gains taxes are.

[failos]

19 minutes ago, st1ckboy said:

You don't mind if I hit you up for advice from time to time do you? Not just market stuff. I'm talking about anything. 

Always, mang.

[St1ck]

1 minute ago, Φαήλος said:

Always, mang.

Ok good. I'll either hit you up in random threads or I may just PM you sometimes. Also can I get your phone number in case of an emergency and you aren't on the board? 

[UndertheHalo]

12 minutes ago, Φαήλος said:

I don’t think you understand what capital gains taxes are.

Lol I’m certain i understand better than you do. 

[failos]

10 minutes ago, UndertheHalo said:

Lol I’m certain i understand better than you do. 

That’s your problem

[failos]

20 minutes ago, st1ckboy said:

Ok good. I'll either hit you up in random threads or I may just PM you sometimes. Also can I get your phone number in case of an emergency and you aren't on the board? 

 

[failos]

Do you work in the financial industry, @UndertheHalo

[UndertheHalo]

13 minutes ago, Φαήλος said:

Do you work in the financial industry, @UndertheHalo

I do. 

[UndertheHalo]

People with incomes greater than a million dollars would have their capital gains taxes impacted the most because the capital gains would be taxed like normal income.  The key thing for most people is understanding that it’s a marginal rate.  Unless you’re quite wealthy this doesn’t matter to you much.  And in the end if anything passes it will surely be lower than the numbers we’re talking about today.  

Edited April 23, 2021 by UndertheHalo

[Lhalo]

Just now, UndertheHalo said:

People with incomes greater than a million dollars would have their capital gains taxes impacted the most because the capital gains would be taxed like normal income.  The key thing for most people is understanding that it’s a marginal rate.  Unless you’re quite wealthy this mostly doesn’t matter to you much.  And in the end if anything passes it will surely be lower than the numbers we’re talking about today. 

That's a lot of fucking people. The kind of people that know how to hide their assets in places other than the stawk market. The people who will suffer are the 401k crowd.

[failos]

4 minutes ago, UndertheHalo said:

People with incomes greater than a million dollars would have their capital gains taxes impacted the most because the capital gains would be taxed like normal income.  The key thing for most people is understanding that it’s a marginal rate.  Unless you’re quite wealthy this mostly doesn’t matter to you much.  And in the end if anything passes it will surely be lower than the numbers we’re talking about today. 

Too lazy to respond right now, but I respect your point of view and appreciate your insights--even though I disagree.

Edited April 23, 2021 by Φαήλος

[UndertheHalo]

5 minutes ago, Lhalo said:

That's a lot of fucking people. The kind of people that know how to hide their assets in places other than the stawk market. The people who will suffer are the 401k crowd.

People collecting 401K income are not subject to capital gains taxes.  Come on man. 

[UndertheHalo]

5 minutes ago, Φαήλος said:

Too lazy to respond right now, but I respect your point of view and appreciate your insights--even though I disagree.

I’m just saying, it’s easy to get confused about these terms.  It’s not nearly as crazy as you think.  We’ve seen these tax rates in our lifetimes.  Pretty good years for the economy in the 90’s.  The 39.6 number was the number then. 

[UndertheHalo]

A lot of you would probably be surprised to know that me.  The big lefty, agrees that working people relative to wealthier people are subject to fairly onerous taxes.  Especially when you consider that we basically get nothing in terms of returned value.  That’s true.  But this stuff isn’t that. 

Edited April 23, 2021 by UndertheHalo

[UndertheHalo]

Unless of course you’re one of those sickos that regards giving massive military aid to the gulf states and Israel and doing forever war against followers of the moon god al-lah to be returned value.  Those people are out there I guess. 

[Lhalo]

12 minutes ago, UndertheHalo said:

People collecting 401K income are not subject to capital gains taxes.  Come on man. 

Are you blind? People with real money are going to pull out of the stock market causing people with 401k's to take it up the ass. It's not rocket surgery.

[failos]

Just now, Lhalo said:

Are you blind? People with real money are going to pull out of the stock market causing people with 401k's to take it up the ass. It's not rocket surgery.

Yeah that’s how I see it as well. Though, I don’t think UTH is blind.

[Jay]

Long-term capital gains tax for high income people would increase from 20 to 39.6%.

Short-term capital gains are already taxed as ordinary income.

So I would expect to see a sell-off prior to when the new tax rate takes effect.