11-05-2020, 07:49 PM
(11-05-2020, 08:23 AM)727Sky Wrote: Never have I been so wrong on an election outcome !! I just wish if Biden actually does win that I would have converted all my investments to cash for I figure the market is gonna crash big time.. I hope i am wrong once again !!
I don't think you're wrong. I've been hearing Wall Streeters say that if Biden wins, folks should cash out of the market before the end of the year, to avoid the massive capital gains tax increase he has promised them. If enough do, that will crash the market. Unfortunately, it will crash it under Trump, who will take the blame for it, but the reality is the election of Biden will have caused it.
Capitol gains taxes are a funny thing. I cashed out a bunch of stock once, and was told the CG tax was 60%, so expect a hit. When I went to file taxes, that year, it was a massive headache to figure it out, so I took the documents straight to the IRS office and told them to figure it out for themselves if they wanted their money. When they did, I wound up paying 10%, not 60%. I dunno how it works - it's some kind of arcane sorcery!
.
Diogenes was eating bread and lentils for supper. He was seen by the philosopher Aristippus, who lived comfortably by flattering the king.
Said Aristippus, ‘If you would learn to be subservient to the king you would not have to live on lentils.’ Said Diogenes, ‘Learn to live on lentils and you will not have to be subservient to the king.’
Said Aristippus, ‘If you would learn to be subservient to the king you would not have to live on lentils.’ Said Diogenes, ‘Learn to live on lentils and you will not have to be subservient to the king.’