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DOW 29K+, NASDAQ 12K+, S&P 3500+

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No one could have predicted this at all. Truly crazy, but nice to see. I will say it feels somewhat artificial.

Ya think? Of course it is artificial as the Fed has pumped Trillions of $. Never, ever fight the Fed when investing!

BTW, I am expecting a 5-10% Correction before the end of the year, but who knows when and/or how much it will run before then.
 
Ya think? Of course it is artificial as the Fed has pumped Trillions of $. Never, ever fight the Fed when investing!

BTW, I am expecting a 5-10% Correction before the end of the year, but who knows when and/or how much it will run before then.

I'd love to see a 10% correction from where we are. I want to invest some more in certain stocks.
 
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Historically, October has been the worst month for returns. I imagine uncertainty about November elections has something to due with this. Hope it doesn't happen this year, but would not be at all surprised to see a pull back next month, particularly if the race continues to tighten. Uncertainty for the market is almost worse than bad news.
 
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Happy to see it, but also feel like it is somewhat artificial. I feel like (as most figured out) that the media created an overreaction to the COVID in a negative way, we may now be experiencing an overreaction in the opposite way. I sincerely hope not as my personality just won't allow me to be negative and "short" stock..
 
Ya think? Of course it is artificial as the Fed has pumped Trillions of $. Never, ever fight the Fed when investing!

BTW, I am expecting a 5-10% Correction before the end of the year, but who knows when and/or how much it will run before then.

looking forward to November so I can buy PENN at ~$7 a share again
 
I agree. Especially if the election turns out negatively for the market and absurd policies like reducing 401k deductions are implemented.

https://www.google.com/amp/s/www.fo...ld-overhaul-traditional-401k-tax-benefits.amp

Sprinkle in some personal and corporate tax increases, regulation tightening, revamped energy policy and, well, you know what will happen.

A Biden landslide win would have some negative impact on the market, but many on wall street have said it wont be that bad. They say having a president who is not constantly tweeting ever changing policies would be a nice change. Future tax policy could have more negative effect.

A close Biden win that trump refuses to accept could have a catastrophic effect on the market.
 
A Biden landslide win would have some negative impact on the market, but many on wall street have said it wont be that bad. They say having a president who is not constantly tweeting ever changing policies would be a nice change. Future tax policy could have more negative effect.

A close Biden win that trump refuses to accept could have a catastrophic effect on the market.

You seem to be someone with good financial sense. Why Biden over Trump in regards to the economy, stock market, investments, etc?
 
You seem to be someone with good financial sense. Why Biden over Trump in regards to the economy, stock market, investments, etc?

I tend to take a more long-term view than short-term. And I know that in any business or country, borrowing more than you earn is never a good strategy.

Slashing regulations and taxes has never worked out long-term. Republicans always say that tax cuts will pay for themselves by creating economic growth. That has literally never happened.

Reagan cut taxes, then his successor HW ran on a "no new taxes" platform (remember the famous "read my lips" line). Then what happened? He had no choice but to raise taxes, b/c the deficit was out of control.

Kansas slashed taxes, they became insolvent.

W slashed taxes, we ended up in the financial crisis.

Trump slashed taxes, and even prior to covid we were nowhere close to offsetting the lost revenue.

It is a short-term money grab with detrimental long-term effect. And I say that as someone who ****ing hates paying taxes.
 
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A Biden landslide win would have some negative impact on the market, but many on wall street have said it wont be that bad. They say having a president who is not constantly tweeting ever changing policies would be a nice change. Future tax policy could have more negative effect.

A close Biden win that trump refuses to accept could have a catastrophic effect on the market.

I respect your view, but have to disagree. IMO, far too many differences of opinions on this board are met with hostility. My personal beIief is that IF we all truly try to listen objectively to others, then maybe we can learn something from each other (but that's just me..)..That being said, I don't see whether Biden winning in a "landslide" or not affects the stock market. Trump "refusing to accept" results does not have an impact IMHO either. No matter who wins, the market will react, according to their opinion, on how it impacts the economy going forward. To me, the bigger impact is in your statement that I completely agree with regarding future tax policy. From stock market returns in the last 3+ years, I would say that Wall St favors current tax policies and I see greater downside to what appears to be greatly differing policies from Biden. Just my take and will gladly listen and welcome alternative views based on rationale and not hatred of current POTUS. In full transparency, I am not and have never been, one of the so caled "Trumpers" as many like to label those that disagree with any of the Democratic mantra. I also admit,that in my mind, Trump was in 2016 and still appears to be the "lesser of two evils".
 
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I respect your view, but have to disagree. IMO, far too many differences of opinions on this board are met with hostility. My personal beIief is that IF we all truly try to listen objectively to others, then maybe we can learn something from each other (but that's just me..)..That being said, I don't see whether Biden winning in a "landslide" or not affects the stock market. Trump "refusing to accept" results does not have an impact IMHO either. No matter who wins, the market will react, according to their opinion, on how it impacts the economy going forward. To me, the bigger impact is in your statement that I completely agree with regarding future tax policy. From stock market returns in the last 3+ years, I would say that Wall St favors current tax policies and I see greater downside to what appears to be greatly differing policies from Biden. Just my take and will gladly listen and welcome alternative views based on rationale and not hatred of current POTUS. In full transparency, I am not and have never been, one of the so caled "Trumpers" as many like to label those that disagree with any of the Democratic mantra. I also admit,that in my mind, Trump was in 2016 and still appears to be the "lesser of two evils".

What I mean is if Biden wins and the election is close, there could be a period of uncertainty if trump claims fraud (he is already doing this two months before the election) and refuses to leave. If that happens, the markets will react very negatively. Uncertainty is a market killer.

It is interesting when you look at S&P growth by president, the democrats who raised taxes fared better than the republicans who slashed taxes. Check out the link below. In terms of growth, it is Clinton #1, Obama #2, Trump #3 (to be fair he has not had a full 8 years), Bush Sr. #4 (at the 4 year mark), Reagan #5, Bush jr #6.

https://www.macrotrends.net/2482/sp500-performance-by-president.
 
What I mean is if Biden wins and the election is close, there could be a period of uncertainty if trump claims fraud (he is already doing this two months before the election) and refuses to leave. If that happens, the markets will react very negatively. Uncertainty is a market killer.

It is interesting when you look at S&P growth by president, the democrats who raised taxes fared better than the republicans who slashed taxes. Check out the link below. In terms of growth, it is Clinton #1, Obama #2, Trump #3 (to be fair he has not had a full 8 years), Bush Sr. #4 (at the 4 year mark), Reagan #5, Bush jr #6.

https://www.macrotrends.net/2482/sp500-performance-by-president.
Fair enough, I agree,that uncertainty can kill the market, as evidenced by earlier this year. While I think there are many factors that go into S&P growth that can be "lagging" ones, both Dems and Repubs can either benefit or be scrutinized for them. It is also interesting (and honestly surprising to me) to see those stats for previous admins. I give you much respect that you linked an article that I presume (from other posts) do not necessarily align with your party affiliation (I am in no way trying to be a smart "A" in this post, I am genuinely impressed that your post was factual and not "slanted"
 
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I tend to take a more long-term view than short-term. And I know that in any business or country, borrowing more than you earn is never a good strategy.

Slashing regulations and taxes has never worked out long-term. Republicans always say that tax cuts will pay for themselves by creating economic growth. That has literally never happened.

Reagan cut taxes, then his successor HW ran on a "no new taxes" platform (remember the famous "read my lips" line). Then what happened? He had no choice but to raise taxes, b/c the deficit was out of control.

Kansas slashed taxes, they became insolvent.

W slashed taxes, we ended up in the financial crisis.

Trump slashed taxes, and even prior to covid we were nowhere close to offsetting the lost revenue.

It is a short-term money grab with detrimental long-term effect. And I say that as someone who ****ing hates paying taxes.

Like most things, I don’t understand why there isn’t more middle ground with taxes. Republicans cut with no offsets other than growth. Obama actively targeted people making more than $200K - far below the image portrayed by the “rich” people paying less than their secretaries. Biden currently plans to repeal Trumps tax cuts which will affect middle class and up, target those making $400K for additional increases and raise taxes on 401ks for everyone above the 26% marginal bracket. And if raising or eliminating the SS cap happens, that’s yet another tax increase - FOUR total that would affect many working families.

Trump’s tax reform missed the mark by not addressing some loopholes and other items that could have balanced the tax code. There were revenue offsets to be had.

But targeting upper middle and upper working class families like Obama and Biden did and plan to do isn’t the answer either. And expanding government programs and entitlements sure as shit isn’t the answer to our budget woes.

Why isn’t there a proposal out there that focuses on the actual inequity of the system, which is at the “tippy top” per everyone’s favorite Native American. Maybe a new tax tier on those making $2-5M+ and another at $10M. Or a different dividend and capital gains rate above a certain threshold (well into the millions).

Why is the left targeting working families with tax hikes, but using the Warren Buffets of the world as the examples of people not paying their fair share?
 
Like most things, I don’t understand why there isn’t more middle ground with taxes. Republicans cut with no offsets other than growth. Obama actively targeted people making more than $200K - far below the image portrayed by the “rich” people paying less than their secretaries. Biden currently plans to repeal Trumps tax cuts which will affect middle class and up, target those making $400K for additional increases and raise taxes on 401ks for everyone above the 26% marginal bracket. And if raising or eliminating the SS cap happens, that’s yet another tax increase - FOUR total that would affect many working families.

Trump’s tax reform missed the mark by not addressing some loopholes and other items that could have balanced the tax code. There were revenue offsets to be had.

But targeting upper middle and upper working class families like Obama and Biden did and plan to do isn’t the answer either. And expanding government programs and entitlements sure as shit isn’t the answer to our budget woes.

Why isn’t there a proposal out there that focuses on the actual inequity of the system, which is at the “tippy top” per everyone’s favorite Native American. Maybe a new tax tier on those making $2-5M+ and another at $10M. Or a different dividend and capital gains rate above a certain threshold (well into the millions).

Why is the left targeting working families with tax hikes, but using the Warren Buffets of the world as the examples of people not paying their fair share?


I am fine with Biden's plan. If you are making more than $400K, then the additional 4-5% you have to pay on your income over $400K is not going to put you in the poor house. For me about a quarter of my income is w2, so it does affect me as much.

Unfortunately trying to tax the people at the very top (.01%) is not viable unless you close numerous loopholes. Just raising taxes on them is pointless, because they will just find creative ways to not pay. They will likely just find other loopholes to exploit. Why do you think Trump is battling so hard to keep his taxes hidden?
 
Like most things, I don’t understand why there isn’t more middle ground with taxes. Republicans cut with no offsets other than growth. Obama actively targeted people making more than $200K - far below the image portrayed by the “rich” people paying less than their secretaries. Biden currently plans to repeal Trumps tax cuts which will affect middle class and up, target those making $400K for additional increases and raise taxes on 401ks for everyone above the 26% marginal bracket. And if raising or eliminating the SS cap happens, that’s yet another tax increase - FOUR total that would affect many working families.

Trump’s tax reform missed the mark by not addressing some loopholes and other items that could have balanced the tax code. There were revenue offsets to be had.

But targeting upper middle and upper working class families like Obama and Biden did and plan to do isn’t the answer either. And expanding government programs and entitlements sure as shit isn’t the answer to our budget woes.

Why isn’t there a proposal out there that focuses on the actual inequity of the system, which is at the “tippy top” per everyone’s favorite Native American. Maybe a new tax tier on those making $2-5M+ and another at $10M. Or a different dividend and capital gains rate above a certain threshold (well into the millions).

Why is the left targeting working families with tax hikes, but using the Warren Buffets of the world as the examples of people not paying their fair share?


By the way... one thing I think you will see Biden doing is trying to find middle ground with republicans. He has done it his whole career. He has talked about including republicans on his cabinet. And I know for sure that is republicans are on their way to the white house to negotiate with him, he won't be tweeting out insults with silly nicknames about them while they are in route.
 
I am fine with Biden's plan. If you are making more than $400K, then the additional 4-5% you have to pay on your income over $400K is not going to put you in the poor house. For me about a quarter of my income is w2, so it does affect me as much.

Unfortunately trying to tax the people at the very top (.01%) is not viable unless you close numerous loopholes. Just raising taxes on them is pointless, because they will just find creative ways to not pay. They will likely just find other loopholes to exploit. Why do you think Trump is battling so hard to keep his taxes hidden?

If Biden repeals Trump’s tax cuts, adds taxes like you described above and implements his 401k plan - that costs casa scotchtiger somewhere in the neighborhood of $40K. And we already pay a shit load in taxes. That’s just BS.

If he adds in raising or eliminating the cap on SS, that could be another huge hit.

There are a lot of problems with the current tax code. Families like mine not paying enough isn’t one of them.

Agree with the loophole issues, Trumps tax records as well as your follow up post about tweeting. The partisanship is so frustrating. Absolutely no collaboration and real problem solving. And that’s not all on Trumps tweets. It’s both sides.
 
I tend to take a more long-term view than short-term. And I know that in any business or country, borrowing more than you earn is never a good strategy.

Slashing regulations and taxes has never worked out long-term. Republicans always say that tax cuts will pay for themselves by creating economic growth. That has literally never happened.

Reagan cut taxes, then his successor HW ran on a "no new taxes" platform (remember the famous "read my lips" line). Then what happened? He had no choice but to raise taxes, b/c the deficit was out of control.

Kansas slashed taxes, they became insolvent.

W slashed taxes, we ended up in the financial crisis.

Trump slashed taxes, and even prior to covid we were nowhere close to offsetting the lost revenue.

It is a short-term money grab with detrimental long-term effect. And I say that as someone who ****ing hates paying taxes.
Spending causes deficits not lowering taxes because revenue goes up when you cut taxes. This is the best beloved lie of the media and people who just don’t read enough sources. Our economy and the taxes taken from it (and wasted) are not zero sum games. The economy grows when taxes are lowered and this results in more income/profits to tax. Go back and look at tax revenue during Reagans tenure. Revenue went up but Congress increased its spending as it does every single year. It’s called base line budgeting. Federal departments budgets get an automatic increase every year. but only if they spend the entire previous years budget. It encourages waste, not responsible management. Congress doesn’t even pass real budgets anymore. Just continuing resolutions and more new spending bills like dumbpanic relief bills.
 
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