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Crypto's Nouveau Riche Lament Sudden Losses as Bitcoin Tumbles

Crypto's Nouveau Riche Lament Sudden Losses as Bitcoin Tumbles
bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.

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GLOBALT Spotlight: Will The Dog Get Wagged?


The Tax “Tail” Proposals Currently on the Table
Repeal 2017 Trump tax cuts
Incomes above $400K – The top tax bracket goes from 37.0% → 39.6%
Capital gains rate
Tax investment income at ordinary rates for those who earn more than $1 million in total (wage and investment) income.
Current top rate with surtax and ex state tax 23.8% → 43.4%.
Estate tax changes
Trump exemptions eliminated and exemption returns to 2009 levels.
Payroll tax
Limited deductions
Financial transaction tax
Raising the GILTI tax
Raising the corporate tax rate
21% to 28%
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Taxes are likely to change meaningfully especially for our higher net worth clients. We try to skate to where the puck is headed, not where it is. There are many investors who have resisted paying capital gains taxes and understandably so. It may make sense to avoid gains if you anticipate your heirs receiving a step up in basis upon trans ....

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Stocks Turn Lower in Afternoon Trading


Provided by
Dow Jones
By Joe Wallace and Amber Burton
U.S. stocks turned lower Thursday on news reports that President Biden is considering nearly doubling capital gains taxes on the wealthy.
Bloomberg News reported Thursday afternoon that Mr. Biden is planning a capital gains tax increase to as high as 43.4%, nearly double the current rate for wealthy Americans.
The S&P 500 and the Dow Jones Industrial Average dropped 1.2%, while the technology-heavy Nasdaq Composite fell 1.3%. The indexes had been wavering between small gains and losses ahead of the report.
Elsewhere, investors continued to parse through another batch of earnings reports and data on the labor market. Many investors remain upbeat about the outlook for stocks but are growing concerned that a surge in coronavirus cases globally could delay plans to reopen economic activity. India on Thursday reported the world s biggest one-day rise in new infection ....

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Stocks Fall on Worries About Capital-Gains Taxes


Provided by
Dow Jones
By Joe Wallace and Amber Burton
U.S. stocks dropped Thursday on news reports that President Biden is considering nearly doubling capital gains taxes on the wealthy.
Mr. Biden is planning a capital gains tax increase to as high as 39.6% on the wealthiest Americans, an increase from the current 20%, Bloomberg News reported Thursday afternoon.
Major indexes wavered between small gains and losses for much of the session before tumbling on the headlines. The S&P 500 fell 38.44 points, or 0.9%, to 4134.98. The Dow Jones Industrial Average dropped 321.41 points, or 0.9%, to 33815.90. The technology-heavy Nasdaq Composite slid 131.81 points, or 0.9%, to 13818.41. ....

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The "Most Important Question" For Investors: Where Will Biden's Trillions In Stimmys End Up?


by Tyler Durden
Monday, Mar 15, 2021 - 05:12 AM
Now that the $1.85 trillion Biden stimulus is officially being deployed with tens of millions of stimmy checks being sent out this weekend to household across the nation, BofA s Jared Woodard writes that the most important question in for investors in 2021 is
what will US households do with their extra money as the economy fully reopens? or in other words, where will all those stimmy checks go. And while the consensus is that the record “savings glut” will be spent, will the consensus be wrong again? Here, BofA sees two possible outcomes:
Big Spending: a sustained real-economy consumption boom, higher wages & services inflation; bullish for GDP, but bearish for stocks because of ....

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