Kinda puts the Capital GAINS tax debate off the table . . .
- Thread starter BobbyBlueChip
- Start date
Would say that would apply only to those that follow #'s like yours above picking one day in time when markets are down to try to make point.
Somehow you forgot when market was @ 14,000.
They had choice to put in stop losses and sell for profit--and wait for next down turn
--also was lots of money made for those that shorted market (believe those are called capital gains also)
Bottom line is your boy wants to continue liberal way and penalize those that are productive and save--to reward your base of indigent slackers.
And your boy wants to keep pounding the middle class. By the way that short selling should be illegal. I see they stopped it on financial orgs they should stop it on everything. Maybe one day when the Bush croonies get out of the SEC.
- Feb 12, 2000
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Personally, I think short selling makes the market act more correctly if there are rules put in place to reduce manipulation.
BBC's point is yet another reason why mutual funds are a bad choice overall. Ask your financial advisor how well that diversication "protected" you yesterday.
BBC's point is yet another reason why mutual funds are a bad choice overall. Ask your financial advisor how well that diversication "protected" you yesterday.
There are no long term shorts so their not taxed at reduced rates. And I agree, sometimes the shorts are right and it has nothing to do with manipulation - but sometimes it does and the manipulation is the problem whether the stocks are going up and down.
My point is the only economic indicators that have been up were for the ownership class and now they're in the toilet as well.
You and O both refuse to define middle class-
I am as middle class as you can get--
under this admin I got
- tax break on income
-tax break on savings
--and reduction on interest rates on both office and home--with both being paid few years back.
WTF more could I ask for:shrug:
Evidently "YOUR" middle class must pay no taxes-have no savings-and is into 2nd mortagages/home equity loans--vs owning free and clear.
Agree totally with you on short selling; its the one thing that keeps the markets honest--don't agree with the current ban on shorting financial stocks....
Wondering why your so negative on mutual funds, Dawg. Many have no choice--you and I are self-employed; we have all kinds of choices in how we save for the future; if your a clock-puncher and all you have is a couple of crappy, high-fee mutual funds as choices--don't you still contribute so you don't have to pay taxes on that part of your income?
Is this some kind of contest to guess where the Dow will be on 1/20/09?
If it is, my guess is 7150
Hmmm if you going to use analogy as such aren't you forgetting one.
November 4th 9,625
November 12th 8,282
1/20/09 :shrug:
12-Nov-08 8,684.52 8,684.52 8,235.66 8,282.66 5,764,180,000 8,282.66
11-Nov-08 8,864.32 8,892.20 8,499.62 8,693.96 4,998,340,000 8,693.96
10-Nov-08 8,946.60 9,212.94 8,735.61 8,870.54 4,572,000,000 8,870.54
7-Nov-08 8,696.03 9,032.54 8,661.22 8,943.81 4,931,640,000 8,943.81
6-Nov-08 9,134.01 9,216.37 8,607.14 8,695.79 6,102,230,000 8,695.79
5-Nov-08 9,616.60 9,628.15 9,086.06 9,139.27 5,426,640,000 9,139.27
4-Nov-08 9,323.89 9,711.46 9,323.89 9,625.28 5,531,290,000 9,625.28
+++++++++++++++++++++++++++
Are these #'s a reflection on O--of course not- but I'm using your playbook of comparing the worst possible #'s due to specific event to gauge time period.
Right out of the Micheal Moore/liberal media playbook.
A prudent person would look back at see how an admin was able to bounce back from adversities such as we now have.
Month ending greatest man made and natural disaster
(911) 9-28-01 8,847.56
(Katrina) 9-29-06 11,679.07
9-28-07 13,895.63
IMO the bounce back effect was miraculous considering the events--and will be more than satisfied if O and company can achieve same results.
I have serious doubts--Why?
Success of past admin was more so success of resilience of free market system--and gov staying out of way.--the enron/worldcom were vicums of their own demise.
What I can see so far in future admin- is gov trying to step in and get involved in business--and have yet to see gov in admin run anything efficiently.
We'll see what O is made of and if he bows to Pelosi/left wing orgs/unions/liberal media--or if he is in fact his own man and has balls to do what must be done--despite being unpopular choices.
We'll give him a chance and see.
There will be 2 key indicators that next 4 years will hinge on IMO
Bailout of companies and free trade.
Bailouts=corporate welfare
Free Trade= If he pisses China off--they can make the $ almost worthless. So far it would hurt them as much as us--you take trade insentive they have with U.S. then it really doesn't make a lot of diff.
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I know I'm one of the working mooks with not much extra cash to toss at the market.
I have my plan at work that I contribute to, and it is mutual fund based. I guess I can only blame me for being ignorant as to how these things work, but I think I fall into a big bowl when it comes to that part of the working sector. (We sheepishly hope people with "more knowledge" in this field will make our money grow.)
I have been a state worker for 22 of my 44 years on this Earth. I started only putting in $25 every two weeks, and with raises over the years, and so on.....I am up to $250 every two weeks.
Currently, I have what amounts to a decent "savings account" over the last 22 years. That's it. The last seven months has wiped out 40% of my money. (And when, if ever, it comes time for me to use this money.....I will be taxed on it, so there will even be far less!) I know that there are tons of you out there in the same boat.
I feel absolutely horrible for anyone who has plans of retirement in the next couple years. I still hold blind hope that I can get some crumbs back in the next 10-12 years.
I'm not going to point fingers. That serves me no good.
I do, however, think about working for the rest of my life.
I have my plan at work that I contribute to, and it is mutual fund based. I guess I can only blame me for being ignorant as to how these things work, but I think I fall into a big bowl when it comes to that part of the working sector. (We sheepishly hope people with "more knowledge" in this field will make our money grow.)
I have been a state worker for 22 of my 44 years on this Earth. I started only putting in $25 every two weeks, and with raises over the years, and so on.....I am up to $250 every two weeks.
Currently, I have what amounts to a decent "savings account" over the last 22 years. That's it. The last seven months has wiped out 40% of my money. (And when, if ever, it comes time for me to use this money.....I will be taxed on it, so there will even be far less!) I know that there are tons of you out there in the same boat.
I feel absolutely horrible for anyone who has plans of retirement in the next couple years. I still hold blind hope that I can get some crumbs back in the next 10-12 years.
I'm not going to point fingers. That serves me no good.
I do, however, think about working for the rest of my life.
This is a pretty big boat. The sad thing is that I don't see anyone speaking for us.
they should at least let us have our retirement accounts without paying the penalties and taxes.
that would help the economy because of the knuckleheads that would piss it away like found money.
that would help the economy because of the knuckleheads that would piss it away like found money.
