Biden to end most tax cuts if he wins. This will be intriguing.

[gaussian]

So if markets rallied to historical highs during this news and process of all of trumps tax cuts and reforms these last few years, what could possibly be positive about biden ending most of these tax cuts?
Wallstreet would go absolutely bonkers if these tax cuts are withdrawn.



https://www.cnbc.com/2020/06/29/biden-tells-donors-he-will-end-most-of-trumps-tax-cuts.html

A market that makes sense. Sure the wall street guys will bitch and moan, probably sell off, and maybe even deliberately destroy the market. But at least it'll make sense again. They have far too much capital locked up in their cushy pension funds. Too many retirees are about to start exiting the market.

I really hate to give Biden any support but removing the corporate tax breaks and raising the interest rate might prevent a total economic meltdown when the fed turns off the money printer.

 

[luckyfnlou]

I don't see Biden being the nominee in November. Once Dems get past August they will find a way to replace Joe. Conspiracy theory I know.

 

[blazespinnaker]

I don't see Biden being the nominee in November. Once Dems get past August they will find a way to replace Joe. Conspiracy theory I know.

It's not just a conspiracy theory, there is a deeply persistent spread (~6%) in betting markets between him winning versus the democrat party winning.

That said, 6% is a pretty low chance of that happening. Make sure you get great odds if you are betting on that belief.

 

[Real Money]

I don't see Biden being the nominee in November. Once Dems get past August they will find a way to replace Joe. Conspiracy theory I know.

I agree. Biden is an obvious fall guy. The fix is in.

He can't even string together a coherent sentence. It's amazing that nobody is talking about this.
His ad on youtube leaves no doubt about it --- medically unfit for office. It's shocking that this guy is even considered a viable candidate.

(You can't make this stuff up.)

 

[Market_Diver]

Trump's tax cut actually brought in more tax revenue.
Quite surprised.

 

[Atlantic]

I don't see Biden being the nominee in November. Once Dems get past August they will find a way to replace Joe. Conspiracy theory I know.

same for trump, maybe.

 

[Clubber Lang]

Make sure you get great odds if you are betting on that belief.

I got 25-1 on that ticket in early April.

 

[zdreg]

Trump's tax cut actually brought in more tax revenue.
Quite surprised.

Why surprised? When rates are cut people are more willingly to pay taxes, e.g. when capital gains taxes are high people don't sell their long term positions. when capital gains taxes are low they sell and increase tax revenue.

 

[KCalhoun]

Remember how much lower our taxes have been under Trump vs Obama?

Biden will raise taxes, and even worse he will try to get ftt passed which would kill daytrading and swingtrading. Just say no to Pelosi/Biden.

Although not happy about how he's handling cv, at least Trump is trader and business-friendly. Democrats just raise taxes and give away our hard earned money.

 

[zdreg]

Remember how much lower our taxes have been under Trump vs Obama?

Biden will raise taxes, and even worse he will try to get ftt passed which would kill daytrading and swingtrading. Just say no to Pelosi/Biden

It never ceases to amaze how many posters do not understand the mathematics of ftt. They think they can beat it. An ftt of .001 1/10th of 1 percent. puts day traders, swing traders and hft traders out of business.