So tell me what the financial situation of a person's portfolio will be if a candidate who has promised to raise income tax on the rich, capital gains tax on the rich, corporate income tax by almost 50%, and punishment tax on corporate profits over 100 million, gets into office? Tell me what that portfolio will look like if the country goes into lockdown again and some of the businesses in the portfolio go under? Tell me what the portfolio's dividend stream will look like with a 50% increase in corporate income tax?
Ted
Regarding whether or not to purchase a boat. - Among other items; this is what's on the table for consideration:
U.S. citizenry is stuck between big rocks and many hard spots!
- National Debt is growing at supersonic speeds - it's way out of hand.
- Current and continued unemployment %age is immense.
- Most returning or new jobs are at or near minimum wage - i.e. basically poverty level, existence-only income levels.
- Covid-19 is a grossly and gravely mishandled killer pandemic - that is still spreading. Over 177,000 U.S. recorded deaths so far.
- Education systems are on their financial heels due to economic constrictions stemming from the pandemic's requirement for closures, distancing and at home learning. Woooo be it a prayer, wish and hope that persons in the school systems reopening this fall do not become "super-spreader" situations.
- Posturing and incessantly lying elected politicians [and their appointed brown-nose cronies] hold Many BIG positions throughout our nation.
- Much of the news media is acting like current events are a three ring circus with highwire acts and clowns; as well as lions, tigers and bears - Oh My! Yes - there is fake news being foisted upon the public from every corner of the isle... that includes TV/radio/web-based news stations and printed periodicals. Also, the "news" that comes out via White House sources is way too often fully slanted or actually complete bullll shitttt! POTUS' self aggrandizing spewings are a joke during most of his public addresses. His sometimes nearly unintelligible constant flurry of tweets too often make little to no sense. That said: He has the sharpest spinners of truth I've ever listened to who come onto the news to twist answers regarding questions toward him, to contradict implications about him and to deliver messages from him.
Add to that the fact that:
- Tens of thousand small businesses will go broke due to the mishandled pandemic response; that will lead to intensely downward economic repercussions.
- There will surely be a tsunami of rental evictions, building foreclosures [residential and commercial]. That wave of economic upset is beginning to rear its ugly head.
- The top 1% currently enjoying faux money laundering from FR computer buttons to be dispersed by govt channels into several different levels and types of markets are standing on the shoulders of the 99% [termed "consumers" - you know - we "spenders" that annually account for 75% of GDP]. Soooo... if and when a large portion of the 99% do substantially contract their spending - what smoke and mirrors is next; to keep the U.S. economic balloon inflated?
Put on top of all that - Mostly fictitious valuations on stocks have risen to unsustainable levels - meaning a BIG Bear market is likely right around the corner...
So - do we vote for???: The unabashed and fully proven Liar-in-Chief; who it appears sold his soul decades ago and will continue to attempt keeping America's false value inflated - until it explodes and the economic cards come tumbling down. Same scenario of his other unsuccessful business forays
Or - do we vote for???: Mr. Nice Guy; the seemingly very honest, well connected, long term politician who apparently really wants to do good for all concerned in our nation - but, upon entering office will face economic, health, racial and social headwinds that match or eclipse those of past times. One of his biggest problems is how to raise capital so the U.S. stays economically afloat. No one likes taxes. However, seeing as lower denomination-level earners will not be able to handle the huge need for capital - the top 1% [wealthy persons and companies] will need to be forced to pay-up.
The choice is up to each of us. Being that I do not associate with blatant liars, I know who I cannot vote for.
Cheers!
Art
