Biden Stock Market Crash

The result of creating and adding more than seven trillion to the US economy. Will the market rebound in 2023?

I once thought that Slo Joe would prop up the financial markets as Obama had done in 2009-2016.
The Federal Reserve evidently felt that Slo Joe was not Obama and began to ratchet up interest rates. No more free money, the markets went into a swoon, but that did not stop the Administration from spending money. ( We spend $399 billion to service this debt. )
So we now have inflation and rising interest rates.

Ironically, like President Trump, I will pay no income tax due to market losses exceeding income. I don't find that to be comforting.

Yes, I will be getting a big refund in April after some heavy stock market losses this Summer.

I am sorta confused......wouldn't an EXCEPTIONAL ACCOUNTANT CHANGE THE EQUATION? i have always understood that the goal was to break even...not letting the government utilize your money for free(paying u no interest)..we try to ride the edge.....owe/refund LESS THAN thousand dollars...but then we r not in MILLIONS(plural)status

".wouldn't an EXCEPTIONAL ACCOUNTANT CHANGE THE EQUATION?"

No.

An accountant can help with regard to losses carried forward, can do nothing to negate actual losses in the market.

" i have always understood that the goal was to break even..."

That refers to the # of dependents claimed for withholding.

This conversation reminds me of how uninformed and ignorant people like Elizabeth Warren are. She’s always spouting off about taxes has no clue as to what is legal and what is tax evasion.

www.newyorker.com/news/our-columnists/ho...b2fdc7b5ac4cd8&esrc=


How can we remodel the U.S. tax system to prevent Trump and other wealthy tax cheats from continuing to make a mockery of it? And, going beyond the individual case, egregious as it is, how can we use what we have learned to make the tax system fairer?

After reviewing years of Trump’s returns and speaking with independent tax experts, I am convinced that there are three imperatives. First, we need to strengthen the Internal Revenue Service so that it has the
capacity to hold accountable serial tax avoiders like Trump and to deter would-be imitators. Second, we must eliminate loopholes in the tax code that serve no economic purpose beyond sheltering the riches of
the financial élite while depriving the federal government of much-needed revenue that would aid other Americans. (This shortfall amounts to upward of four hundred billion dollars a year, according to some estimates.) Third, we have to introduce broader changes to the tax code for an economic era where the rich accumulate vast amounts of untaxed wealth, and where inequality has reached record levels.

AS I have stayed before.......change the paradigm,close the loopholes...NOT THAT THIS WILL BE ACCOMPLISHED ANYTIME SOON.

Why would one percenters like Nancy Pelosi and Mitch McConnell want to change a system that works for them?

And loopholes is incorrect. The law is written that way so it isn't a loophole. It is the tax code.

And if you tax people who lose money making investments, capital will flow from the US to nations that refuse to penalize risk takers.

Wasn't this another thing that was going to send him to jail, do a perp walk on.
AND NOW YOU ARE DOWN TO LOOSERS WHING ABOUT LOOPHOLES.

homeagain wrote: www.newyorker.com/news/our-columnists/ho...b2fdc7b5ac4cd8&esrc=


How can we remodel the U.S. tax system to prevent Trump and other wealthy tax cheats from continuing to make a mockery of it? And, going beyond the individual case, egregious as it is, how can we use what we have learned to make the tax system fairer?

After reviewing years of Trump’s returns and speaking with independent tax experts, I am convinced that there are three imperatives. First, we need to strengthen the Internal Revenue Service so that it has the
capacity to hold accountable serial tax avoiders like Trump and to deter would-be imitators. Second, we must eliminate loopholes in the tax code that serve no economic purpose beyond sheltering the riches of
the financial élite while depriving the federal government of much-needed revenue that would aid other Americans. (This shortfall amounts to upward of four hundred billion dollars a year, according to some estimates.) Third, we have to introduce broader changes to the tax code for an economic era where the rich accumulate vast amounts of untaxed wealth, and where inequality has reached record levels.

AS I have stayed before.......change the paradigm,close the loopholes...NOT THAT THIS WILL BE ACCOMPLISHED ANYTIME SOON.