It will likely kill the market this year, as the wealthy will pull out as much money as they can so they can enjoy 20% rates on capital gains this year. After the sell off, things will slowly increase again, but there will not be a huge rally by any means, until they get a new president in office.
Back to green today. There are some absolute amateurs on here
Last time I checked it hasn't passed the "I want to do this" stage. So no, this drop was purely on the news. But if it gets traction, you bet your ass the markets will tank. Hopefully, somebody is advising this moron, and told him that one little comment dropped the DOW 400 points, and that maybe he should reconsider his position.
Lol. You have no grasp of algorithmic trading and how it works.
Was a cool board. Too bad poors had to come shit all over the place with their cult nonsense
Algorithmic trading is a fancy phrase for saying "Buy the dip, dumbass"
Hey now, this is the gentle board. We don’t call each other names. That’s for the TUG
I wasn’t calling him a dumbass. I was saying, when you reference algorithmic trading, you are saying “buy the dip dumbass”. It’s not referencing him, but just the general term.
It will likely kill the market this year, as the wealthy will pull out as much money as they can so they can enjoy 20% rates on capital gains this year. After the sell off, things will slowly increase again, but there will not be a huge rally by any means, until they get a new president in office.
Back to green today. There are some absolute amateurs on here
Last time I checked it hasn't passed the "I want to do this" stage. So no, this drop was purely on the news. But if it gets traction, you bet your ass the markets will tank. Hopefully, somebody is advising this moron, and told him that one little comment dropped the DOW 400 points, and that maybe he should reconsider his position.
Lol. You have no grasp of algorithmic trading and how it works.
Was a cool board. Too bad poors had to come shit all over the place with their cult nonsense
Algorithmic trading is a fancy phrase for saying "Buy the dip, dumbass"
Hey now, this is the gentle board. We don’t call each other names. That’s for the TUG
I wasn’t calling him a dumbass. I was saying, when you reference algorithmic trading, you are saying “buy the dip dumbass”. It’s not referencing him, but just the general term.
As a response to proposed tax law changes and a bunch of other nonsense going on in this country I came to a point where I felt compelled to examine some potential changes. Last week I retained a professional to explore a change of domicile. Turns out I have a lot of company.
Where would you go that is low tax and also reasonably safe?
That's why I hired a pro. I spend a fair amount of time in Panama. I never explored long-term residency there but I really like it. The answer may be to live in another state. What my 20 year old kid does is a big factor. I don't feel that I know all the questions to ask at this point. The internet and easy air travel have changed this proposition a great deal.
Panama is interesting. A lot of wealth there. I've liked Panama City when I stopped there a couple times on the way to and from the Caribbean. Still, it's Central America and would give me pause about a long term move.
Also, if tax related, are you planning on giving up US citizenship or just structuring things in a way that reduces taxes?
As a response to proposed tax law changes and a bunch of other nonsense going on in this country I came to a point where I felt compelled to examine some potential changes. Last week I retained a professional to explore a change of domicile. Turns out I have a lot of company.
Where would you go that is low tax and also reasonably safe?
That's why I hired a pro. I spend a fair amount of time in Panama. I never explored long-term residency there but I really like it. The answer may be to live in another state. What my 20 year old kid does is a big factor. I don't feel that I know all the questions to ask at this point. The internet and easy air travel have changed this proposition a great deal.
Panama is interesting. A lot of wealth there. I've liked Panama City when I stopped there a couple times on the way to and from the Caribbean. Still, it's Central America and would give me pause about a long term move.
Also, if tax related, are you planning on giving up US citizenship or just structuring things in a way that reduces taxes?
Never been but always wanted to. Agreed re Central America.
I would live in Israel before anywhere south of the US border, if that says anything about my perception of being an American in a foreign land.
Europe or the Caribbean for me. And yes, I realize Europe wouldn't help the tax or crazy government situation. But in terms of where else I'd go, it's basically those two.
As a response to proposed tax law changes and a bunch of other nonsense going on in this country I came to a point where I felt compelled to examine some potential changes. Last week I retained a professional to explore a change of domicile. Turns out I have a lot of company.
Where would you go that is low tax and also reasonably safe?
That's why I hired a pro. I spend a fair amount of time in Panama. I never explored long-term residency there but I really like it. The answer may be to live in another state. What my 20 year old kid does is a big factor. I don't feel that I know all the questions to ask at this point. The internet and easy air travel have changed this proposition a great deal.
Panama is interesting. A lot of wealth there. I've liked Panama City when I stopped there a couple times on the way to and from the Caribbean. Still, it's Central America and would give me pause about a long term move.
Also, if tax related, are you planning on giving up US citizenship or just structuring things in a way that reduces taxes?
Not sure on any details. I do own a home in Panama.
I would live in Israel before anywhere south of the US border, if that says anything about my perception of being an American in a foreign land.
Israel is pretty high tax though. I love Israel, have family there and would consider living there but I'm not sure it's really a solution to high taxes. Tel Aviv would be an awesome city to live in regardless. I've been thinking about buying some property there.
As a response to proposed tax law changes and a bunch of other nonsense going on in this country I came to a point where I felt compelled to examine some potential changes. Last week I retained a professional to explore a change of domicile. Turns out I have a lot of company.
Where would you go that is low tax and also reasonably safe?
That's why I hired a pro. I spend a fair amount of time in Panama. I never explored long-term residency there but I really like it. The answer may be to live in another state. What my 20 year old kid does is a big factor. I don't feel that I know all the questions to ask at this point. The internet and easy air travel have changed this proposition a great deal.
Nothing bad has ever happened to a UW grad with money who moved to Central America
As a response to proposed tax law changes and a bunch of other nonsense going on in this country I came to a point where I felt compelled to examine some potential changes. Last week I retained a professional to explore a change of domicile. Turns out I have a lot of company.
Where would you go that is low tax and also reasonably safe?
That's why I hired a pro. I spend a fair amount of time in Panama. I never explored long-term residency there but I really like it. The answer may be to live in another state. What my 20 year old kid does is a big factor. I don't feel that I know all the questions to ask at this point. The internet and easy air travel have changed this proposition a great deal.
Panama is interesting. A lot of wealth there. I've liked Panama City when I stopped there a couple times on the way to and from the Caribbean. Still, it's Central America and would give me pause about a long term move.
Also, if tax related, are you planning on giving up US citizenship or just structuring things in a way that reduces taxes?
Never been but always wanted to. Agreed re Central America.
The attitude that restructuring the tax code to penalize capital gains above a million dollars would disincentivize or otherwise impair growth and investment implies that most here believe that taxation policies are a powerful tool for shaping collective behavior. So why are so many of you seemingly more concerned about a proposed capital gains tax increase than you are that an income tax even exists at all?
As a percentage of federal receipts, corporate tax is way lower than individual, and individual capital gains is like a tenth of all individual tax (income). Seems to me that we've managed to create a tax code that simultaneously discourages labor while turbocharging inequality. I don't know what the answer to that is, but it seems the tax code should encourage work, not punish it. It should discourage hoarding, not incentivize it. It should encourage reinvestment and not amassing piles of imaginary money.
I think a simple concept that often gets ignored in discussing tax policy is that--one way or another--the government has to raise a certain amount of money to fund itself through taxation. Last I looked, I vaguely recall it being in the $2.7 trillion dollar range, but that was some time ago. There's no magic free stuff, so that money has to come from somewhere, eventually. So the choice is either tax the poor and middle class more, tax the wealthy more, tax corporations more, tax capital gains more, tax wealth... or continue to rack up debt and print money? So which is it going to be?
For me. this sadly is another example of class warfare where America (or at least 40% of it) want to stick it to the evil rich and the #robinhood mindset that so many in our country want to have.
If this goes thru, two things happen #1) the millionaires that are effected the most hire more/better accountants and tax attorneys to find ways around this and just like the ATM as time goes on, the threshold continues to decline so more people have to pay it.
As someone said earlier 10% of the people pay 90% of income taxes and upwards of 50% of Americans pay no income tax. Exhibit 1,023,843 of why this is broke.
For me. this sadly is another example of class warfare where America (or at least 40% of it) want to stick it to the evil rich and the #robinhood mindset that so many in our country want to have.
If this goes thru, two things happen #1) the millionaires that are effected the most hire more/better accountants and tax attorneys to find ways around this and just like the ATM as time goes on, the threshold continues to decline so more people have to pay it.
As someone said earlier 10% of the people pay 90% of income taxes and upwards of 50% of Americans pay no income tax. Exhibit 1,023,843 of why this is broke.
What these dumb motherfuckers don't understand it that the 'sorta' rich - the ones over $400K/year but not with fuck you money stored up - are the ones who provided a massive amount of jobs in small- and medium- businesses. They'll start downsizing or replacing older workers with younger, cheaper workers.
You know who does understand that? The mega-corporations. They can withstand a couple years' hit to earnings to put a dent in small business. Like all things coming from the leftists, it won't end well. They'll hurt the very people they think they are helping.'
Comments
Also, if tax related, are you planning on giving up US citizenship or just structuring things in a way that reduces taxes?
What about Ole' Mejico???
Greece is a dumpster fire but still
I do own a home in Panama.
J?
The attitude that restructuring the tax code to penalize capital gains above a million dollars would disincentivize or otherwise impair growth and investment implies that most here believe that taxation policies are a powerful tool for shaping collective behavior. So why are so many of you seemingly more concerned about a proposed capital gains tax increase than you are that an income tax even exists at all?
As a percentage of federal receipts, corporate tax is way lower than individual, and individual capital gains is like a tenth of all individual tax (income). Seems to me that we've managed to create a tax code that simultaneously discourages labor while turbocharging inequality. I don't know what the answer to that is, but it seems the tax code should encourage work, not punish it. It should discourage hoarding, not incentivize it. It should encourage reinvestment and not amassing piles of imaginary money.
I think a simple concept that often gets ignored in discussing tax policy is that--one way or another--the government has to raise a certain amount of money to fund itself through taxation. Last I looked, I vaguely recall it being in the $2.7 trillion dollar range, but that was some time ago. There's no magic free stuff, so that money has to come from somewhere, eventually. So the choice is either tax the poor and middle class more, tax the wealthy more, tax corporations more, tax capital gains more, tax wealth... or continue to rack up debt and print money? So which is it going to be?
If this goes thru, two things happen #1) the millionaires that are effected the most hire more/better accountants and tax attorneys to find ways around this and just like the ATM as time goes on, the threshold continues to decline so more people have to pay it.
As someone said earlier 10% of the people pay 90% of income taxes and upwards of 50% of Americans pay no income tax. Exhibit 1,023,843 of why this is broke.
You know who does understand that? The mega-corporations. They can withstand a couple years' hit to earnings to put a dent in small business. Like all things coming from the leftists, it won't end well. They'll hurt the very people they think they are helping.'