Yeah, I'll sell tomorrow!
Posted 23 April 2021 - 09:14 AM
Yeah, I'll sell tomorrow!
Posted 23 April 2021 - 12:30 PM
But will Tarzan go along?
Posted 23 April 2021 - 02:49 PM
But will Tarzan go along?
I don't know about Tarzan, but, the richest 10% own 84% of all stock and if I were them, I'd find another investment where they don't take 40-50% of your money.
Posted 25 April 2021 - 07:17 PM
As I expected it, the media is painting this as "nothing-burger." This is what one pundit says: They’ll get over it, as we well know; they always have. And what is the secret of their Zen forbearance? It is this: Make so much money that even after giving half of it to the revenuers, there will be plenty left to summer in the Hamptons and charter Mediterranean yachts without feeling pinched.
Then there is Martin Armstrong who can offer this advice. "Sell now, pay lower capital gains taxes now on your outsize gains, an then rebuy later. I guess you have to be a rocket scientist to figure this out.
Posted 25 April 2021 - 11:04 PM
"Sell now, pay lower capital gains taxes now on your outsize gains, an then rebuy later."
Guess he read my posts! LOL!
Posted 27 April 2021 - 10:08 PM
Posted 28 April 2021 - 03:27 AM
What would be the point of selling now instead of December 31 other than people that were already cashing in on long term gains from March/April 2020? Just that you expect this to be the top for the year? What could they funnel money into that wouldn't be subject to any new long term capital gains law for millionaires? Crypto that never gets cashed into USD?
Edited by brucekeller, 28 April 2021 - 03:28 AM.
Posted 28 April 2021 - 05:07 AM
Posted 28 April 2021 - 05:30 AM
BK, I follow example of Rothschild from France who said "I got rich by selling early".
Besides, at my age in 80's, I want to spend the money sooner than later hehe and that requires cashing in.
True but you were selling to lock in long term capital gains. I'm wondering what will make people worry about selling now even when they already have LT capital gains, unless there is another asset they can put money in that appreciates that somehow wouldn't be subject to the same new taxes (on millionaires in theory). Maybe if crypto isn't the answer, a whole new slew of charities will start up? Or could it be a lot of wealthy people wanting to pass it on to their heirs to put back into LT investments if they can't just transfer the shares without taxes? I dunno that side of the tax laws yet.
Edited by brucekeller, 28 April 2021 - 05:33 AM.