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Stocks Fall on Reports Biden Is Weighing Rise in Capital-Gains Taxes


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#1 pdx5

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Posted 22 April 2021 - 02:45 PM

U.S. stocks turned lower Thursday on news reports that President Biden is considering nearly doubling capital gains taxes on the wealthy.

Major indexes had been wavering between small gains and losses for much of the session before the swift shift in sentiment. The S&P 500 and the Dow Jones Industrial Average dropped 1.2%, while the technology-heavy Nasdaq Composite fell 1.3%.

Bloomberg News reported Thursday afternoon that Mr. Biden is planning a capital gains tax increase to as high as 39.6%, an increase from the current 20%.


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#2 pdx5

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Posted 22 April 2021 - 02:47 PM

 Why is this a surprise to Wall Street? Biden 's platform clearly states the tax increase agenda.


Edited by pdx5, 22 April 2021 - 02:47 PM.

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#3 redfoliage2

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Posted 22 April 2021 - 03:02 PM

When the tax increase will become effective?  Will it need to go thru the Congress?


Edited by redfoliage2, 22 April 2021 - 03:08 PM.


#4 pdx5

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Posted 22 April 2021 - 03:39 PM

Democrats have majorities in House & Senate. But may be Senate needs 60 votes to pass tax increase? I am not sure.


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#5 slupert

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Posted 22 April 2021 - 03:41 PM

Same 'ol news they are just looking to sell. Why put capital to work at these prices? The market will come down to Wall Street's buy price, which means, when tech is cheap enough to run again, they'll be in. I ignore  that value vs. growth BS, its all about chasing performance, and tech is what accomplishes that. (JMHO)



#6 pdx5

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Posted 22 April 2021 - 03:49 PM

Same 'ol news they are just looking to sell. Why put capital to work at these prices? The market will come down to Wall Street's buy price, which means, when tech is cheap enough to run again, they'll be in. I ignore  that value vs. growth BS, its all about chasing performance, and tech is what accomplishes that. (JMHO)

Basically what you are saying is play the game as Wall Street wants you to play the game. Tesla stock is worth 10 times GM stock, while GM sales outnumber Tesla sales by  more than 10:1. Yeah Value is not where it's at.


Edited by pdx5, 22 April 2021 - 03:50 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#7 andr99

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Posted 22 April 2021 - 03:54 PM

 

U.S. stocks turned lower Thursday on news reports that President Biden is considering nearly doubling capital gains taxes on the wealthy.

Major indexes had been wavering between small gains and losses for much of the session before the swift shift in sentiment. The S&P 500 and the Dow Jones Industrial Average dropped 1.2%, while the technology-heavy Nasdaq Composite fell 1.3%.

Bloomberg News reported Thursday afternoon that Mr. Biden is planning a capital gains tax increase to as high as 39.6%, an increase from the current 20%.

 

 

fake news to me.......capital gains are taxed 26% in italy (and germany as well) and we are under a sh@it of statalism and communism designed to feed the unproductive rome and the south where the only things that work are their mafias and nepotism.........don' t know if I ever said it before, but I would give them for free to Morocco. 

In any case it doesn' t make any sense that the FED goes on printing like hell to substain the stock markets and then someone that counts more than the FED makes something to lead the stock markets down.........fake news


Edited by andr99, 22 April 2021 - 03:58 PM.

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#8 andr99

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Posted 22 April 2021 - 04:17 PM

how much is the capital gain taxation in America now ? And how does it work.....a fixed single percentage equal for everyone independently from annual income....or else ?  

 

It might be a case of fake news......but you know if it's true instead, I' m starting to worry......Europeans with regards to how to tax are used to copy from everyone in the world.....here in italy, I' m waiting for the illiberal italian state to tax the air people breath


Edited by andr99, 22 April 2021 - 04:20 PM.

forever and only a V-E-N-E-T-K-E-N - langbard


#9 andr99

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Posted 22 April 2021 - 04:39 PM

found......

 

https://en.wikipedia...e_United_States

 

 

here in Communistitaly we pay 26% even if we gain just 1 dollar per year.......so if I make 1 dollar buying low and selling high......0.74 remains to me and 0.26 goes to rome......they need someone to feed them. I should consider to emigrate......I have come to the point that I change tv channel not to see anything from there


Edited by andr99, 22 April 2021 - 04:44 PM.

forever and only a V-E-N-E-T-K-E-N - langbard


#10 redfoliage2

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Posted 22 April 2021 - 05:11 PM

Since today's sudden drop was caused by the media re-reporting old news on Biden's plan on tax hike, it will be very interesting tomorrow ...............................


Edited by redfoliage2, 22 April 2021 - 05:15 PM.