the

Biden JUST *CRASHED* the Markets | New Tax Explained

hey everyone me kevin here welcome back

to another live stream this is a little

bit of a

an uh unusual timing for a live stream

and that's because of a rumor that just

came from

the biden white house we're gonna talk

about this new tax and what it's doing

to a market uh also i i look i might

look a little red in the face uh that

may be because i just came back from cry

i mean uh working out

so uh yeah anyway uh let's uh let's get

into uh

first of all how the market is

responding to what's happening here

uh we we saw the initial impact of this

take

a foothold during the course member live

stream this morning to keep in mind if

you want to join those

uh that link is down below we do

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let's get into first how markets are

reacting so first of all uh we're seeing

big digital assets a huge u-turn again

here

big digital assets went green for the

day down another ten percent

fisker went to five percent now it's

down nine and a half percent

riot and a marathon these were both

around five to ten percent

now plummeting we've got uh arkamoto

down seven percent voyager digital down

keep in mind

crypto currencies are affected by this

new tax

too so uh well we'll talk about this tax

but yeah this is uh this is not so great

we've got

and this is uh this is a big big big

move to the downside for a lot of stocks

here coinbase

hit a low of 290 it was hovering around

309 things were starting to look on the

up and up

we had our second green day in a row

with yesterday

uh and the spacks were coming back tesla

was coming back

everything was coming back churchill was

up four percent

now it's down 2.8 percent tesla was up

how about what a quarter of a percent or

something was pretty flat

now it's down two and a half percent to

724.

qualcomm down two and a half percent

shopify down the airlines

we're up now the airlines are down

uh we've got uh zillow down we got canoe

down we've got wind down x being down

home depot

literally uh it seems to be down there

are

there are things that are up in fairness

there are things that are up uh apple uh

down it was up in the day pinterest was

up in the day it's down now

bitcoin has uh has actually fallen a

chunk here it went from about

54 nine to about 53

four right now uh it seems like we might

be on a little bit of a down yeah yeah

yeah

definitely uh if you look at the

one-minute chart here you could really

see that plummet in bitcoin folks look

at that plummet in bitcoin here

uh just in the last uh uh you know hour

or so here

we've got uh some green still surviving

the biggest greens are still nicola as

after their big cnbc talk this morning a

lot you know level-headed person on

talking about the future of nicola great

still specs so it's still

a part of the spac attack it's up 13 you

got zom momentum play

up 10 here solar edge uh

and end phase are still up although

they've paired gains

high leon is up five percent uh api

uh let's see api cheesecake cloudflare

some other miscellaneous stocks up a

little bit here matterport's up 1.9

but we've definitely peloton's up 1.2

but we've definitely seen a good like

two to three percent

shave off the market almost instantly

here uh it's so the you know

we're going to talk about is this is

this by the dip opportunity

what the heck is going on in order to do

that we really need to start by talking

about what this

is so uh bloomberg reported this

bloomberg snagged a leak on this we do

not have

all of the details yet this is very very

very important to know

when you get leaks from the white house

like this

yes these are things that could end up

being proposed but usually the devil is

in the details

uh devil being in the details could

i mean who knows sometimes it could be

worse sometimes uh the angels in the

details that

at this point the market is just freaked

out because all we have is bloomberg

reporting

saying that president joe biden will

propose almost doubling the capital

gains tax rate for wealthy individuals

to the ordinary income tax rate now i'll

explain why this matters if you're not a

wealthy individual in just one moment

but in essence the capital gains tax for

wealthy folks

would be gone there will be no more

capital gains tax so that means for

somebody making over a million dollars a

year

which is you know obviously one percent

of the population they're not going to

care anymore about long-term capital

gains because there won't be

long-term gains that won't exist anymore

so instead you would be paying 39.

six percent plus uh the uh the

investment taxes

like the three point eight percent from

uh obamacare

right here that's the three point eight

percent tax on investment income

that would be on top of that 39.6

which would mean that some individuals

once you make over one million dollars

if you have a dollar of capital gains a

thousand dollars of capital gains a

million dollars of capital gains or 50

million dollars of capital gains

your tax rate whether it's long term or

short term will be 43.2

percent uh personally i i can't wait to

see the details of this because

uh this is going to have huge

implications in my opinion for private

equity

for venture capital you're gonna have

big implications

for uh you know it doesn't make more

sense to invest in a c

corporation than than uh individually

because individuals are just getting

now wealthier individuals are getting

reamed with uh with no benefit to having

a long-term mindset for stocks anymore

so uh

keep in mind why does this affect

individuals

throughout well obviously you saw the

stock market pull back why because think

about it

hedge funds investment advisors

family funds these are all people highly

affected

uh you know big farms with with highly

paid analysts

these are all companies that or or

people

who get battered by this and they have

lots of money in stocks

and so that could be why we're seeing

this potential move here i do believe

a lot of this probably in addition to

some panic from individuals

is also going to be algorithmic we're

going to see

a lot of push by computers okay we got

bad news here

sell sell sell uh sort of amplifying

this dip so i do believe that this dip

we're seeing right here is a little bit

of an over correction

uh this tax increase doesn't affect you

unless you don't make more than a

million dollars but

uh or doesn't directly affect you but it

does affect you and if all of a sudden

we have lower

stock market returns because uh now now

all of a sudden doesn't make more sense

and this is a crazy thing does it make

more sense to invest in real estate

than stocks think about that does it

make more sense to jump into real estate

than stocks for wealthy individuals

well let's see if you make money on

stocks and you sell you pay

basically you're giving away half 43.8

percent

if you're blessed to live in the state

of california

where you now pay biden's new tax let's

say you make over a million dollars

you pay biden's new tax to 43.4 percent

plus you pay

california's 13.9 or four or whatever

percent it is

you're you're sitting at 57 in

taxes that somebody in california is

paying

at this fact at this rate this means you

make a really good yolo bet and you make

a crap ton of money

because you were right in the markets

you're giving more than

half to the government that's going to

in my opinion that's going to dissuade

people from the stock market

that will take people from the stock

market and say you know what uh

no thanks we're going to have less of an

allocation to stocks

and possibly real estate why real estate

because

folks you already know the answer to

this if you're in the stocks in

psychology money group

you already know the answer to this if

you're in the real estate investing

course

because we go deep on this kind of stuff

we go deep on these strategies

but just surficial here a little

overview it's very very simple

in real estate if you sell you could

just exchange to another piece of real

estate and never pay the freaking taxes

it's great absolutely incredible but

this is

this is an issue this is definitely an

issue this is a very very high

now this is just rumored right now

obviously we expect joe biden to come

out with his plan keep in mind

joe biden has frequently mentioned

that he is willing to compromise

i can't see even 50 democrats

in the senate going for this i i think

that

that would be a little bit of a surprise

to see 50 democrats go for this i think

kirsten cinema think joe manchin do we

really expect they're going to go for

this extreme of a move on the capital

gains uh movement here this is a

pretty pretty big move here uh obviously

stocks slid

a substantial slide on on this uh news

here things were going good

now they're not the proposal could

reverse the long-standing provision of

the tax code the tax return

right whatever well i've kind of already

explained this uh the the official

proposal is expected to be released

next week as part of the american

families plan we've been waiting for

this sort of part

two of the uh uh infrastructure plan to

come out there

we were told that this plan would be uh

released two weeks ago

uh like literally four weeks ago we were

told that it would come out two weeks

ago it never came here we are two and a

bit weeks

uh late and uh now we're expecting this

plan to be released

next week so things keep sort of getting

delayed on this

but uh yeah right now i think markets

are responding

certainly to the downside on this i i

don't believe that markets fully believe

this will actually pass

i don't think this has an incredibly

high chance of passing

but uh i i mean it's like i'm not going

to put it at 90 percent likely of

happening

oh here you go see for californians it

would be 56.7 okay so i was close

that means it was um third for

california but anyway yeah

new yorkers would be paying 52

californians would be paying 56

pretty high and that's definitely going

to make a move here in the market and

again

we do not have further details of this

because this is really just a leaked

rumor

we do not have uh more information on

this though we are expecting more

information on this

uh bitcoin is continuing to trend down

on this news keep in mind

bitcoin is taxed someone says they've

never seen kevin so word before oh oh

don't worry i'm i'm not read because i

was crying off this news not at all

i was working out i was exercising don't

mind me

uh okay so geez man

look at this riot accelerating voyager

evaporating

a marathon down almost another 10 i mean

literally

all of the the uno reverse that we had

in the last two days

literally you know joe biden just

removed that

is what it is can't predict that so uh

you know there there goes uh there go

the yolo options to the red

the the good ol yolo options just got

yolo burned

thanks thanks joe biden now we'll see

obviously uh the market uh is uh is

trying to evaluate the additional

details of this

we are seeing the market sort of trend

down i'm going to start trying to look

for a stabilization here let's grab the

spy here

so s p is stabilizing a bit uh it's been

stabilizing kind of since we started

talking here in the live stream

maybe uh maybe meet kevin just needed to

talk some sense into everyone

uh no i don't know uh but

yeah you could see the substantial

movement here from uh the spy for

example

you see you see the first plummet and

then you kind of see the second wave

plummet that we had over here

a little bit of the bull trap over there

if you want to say that pinterest

same movement down we still haven't

shown

that real consolidation yet here we

could actually continue to slip into the

into the the close here not so good

obviously creates a hot political

environment also more bad news

for uh for tesla hold on a second you

might be talking about

in action uh we've seen some top line uh

proposal or top line details as you all

have reported on

we're looking forward to reviewing the

details of the proposal we would expect

the next steps would be a full briefing

and conversations

on a staff level that will continue uh

over the coming uh

days and an exchange of ideas from there

and then we'd also expect

i would expect that you should all

expect the president to invite members

to the white house after soon after the

joint

session address but we certainly welcome

any good faith effort and certainly see

this as that but there are a lot of

details to discuss and a lot of

uh exchanges of ideas to happen over the

coming days

go ahead is president biden going to

extend his call for americans to wear

masks beyond 100

yeah i mean look sure when we say leak

uh it is expected to be an accurate leak

uh it does rhyme with what joe biden has

talked about uh during his candidacy

uh i do believe i agree i think this is

a little bit of an overreaction

but uh yeah this is uh this is pretty

rough so

uh absolutely let's see here uh let's uh

let's listen in more cdc change its

guidance right now that says that

vaccinated americans

should be wearing masks when they're

outdoors when they're outside

okay they're still talking about masks

at the moment so let's go ahead and go

back to uh the sticks here

let's see wow wow yeah the uh

the gains yesterday are gone bye bye

bye bye bye at least we had the gains

yesterday could you

imagine how freaking crappy we would

feel right now

if we didn't have the green of yesterday

and today

this morning to insulate this crap i

mean it would have just literally been

down on top of down i almost wonder if

biden

waited for the market to have a couple

green days

it to to dump this news but yeah this is

uh this is a little rough

a little rough uh markets uh still uh

trying to figure out exactly how to

respond to this

yeah yeah we got we got a little bit of

that consolidation now

i you know the market pricing in this

what i would say maybe uh

you know call this a two or three

percent movement to the downside on most

stocks here

can we can we call this bitcoin under 53

now

if this is a two to three percent

movement do we consider this fully

priced in

uh maybe because this seems like it

could potentially be a little bit of an

overreact

uh we'll see obviously when we get the

details i think the details will be very

very important to see uh

when i think the biggest detail is going

to be when

when is this going to take effect

because we don't know the answer is this

going to take effect

in uh 20 uh

oh uh hold on one sec here yeah

i think if if they come in and say this

tax is effective 2021

i think you're going to see another

sell-off i think that would be very

rough because retroactive taxes usually

aren't so

spectacular uh

blah blah blah okay uh

okay got it yeah so um

sorry i got an import message anyway

what am i trying to say

if if this package gets revealed

and they say 2021

when this capital gains tax goes into

effect i wouldn't be shocked if you see

potentially some more selling

as people potentially try to balance out

gains that they have had with losses

and start trying to adjust to anticipate

that that quick hit

uh if this is a 2022 adjustment which i

would expect it to be

sorry um a retroactive taxes is very

frowned upon

yeah but uh if this is a 2022 plus thing

then at least it gives people the

opportunity to plan and i think this

will have

have a more muted impact which would be

very good so

write that down okay that's what you're

going to want to look for next week

you're going to want to understand

is this a 2021 or 2022 tax

somebody here says he's leveling the

playing field absolutely that that uh

that is what uh he's attempting to do uh

whether or not

that works or it it ends up hurts

hurting investment

hurting entrepreneurship who knows those

are their arguments on both sides right

so really everything has moved down so i

can't say that there's a big

uh move to one side somebody here says

2023

where did you see that i will give the

bloomberg article a quick refresh

so let me listen to saki for a moment

see if she's got an update that your

children and your grandchildren

have opportunities in these industries

that are growing

but this is already where the private

sector is going uh this is already where

the jobs are in the future

so what we're really questioning now is

how we can incentivize

and how we can prepare the economy and

opportunities for the next generation

good thanks jen um you just mentioned

and secretary kerry mentioned the fact

that the market is already heading

towards

electric vehicles there's no turning

back from that it's an unstoppable force

if that's the case why should taxpayers

pay

for 500 000 electronic electric vehicle

charging stations

isn't that something that will get taken

care of by the market

you know i think there's a role for

government to play our view the

presidency is there's a role for

government to play

to incentivize to ensure that there is

continued movement in this direction

but there's also a great deal a lot of

the investment that's in the american

jobs plan

is about ensuring that um there are

industries and jobs that are created in

sectors um

in the future to help the next

generation survive and prosper okay i'm

going to pause on saki here i do not see

any mention of a uh 2023

anywhere and i'm looking for it so if

somebody can give me a source

for 2023 uh then but i don't believe

that i think 2023 is too late uh i would

expect it to be

uh i would expect it to be a 2022

so uh of course 2020 well okay so we

have a lot of speculation in terms of uh

what it might be

but we don't actually have the details

yet here right

that i've read this morning seen on the

twit on twitter

um but you know the president is

somebody who has created will be the

first in history to create

a million jobs in his first hundred days

in office he's on track

for that in our view um and a lot of

these critics are the same people who

advocated for the policies of the last

administration uh in the last president

who oversaw an economy that lost more

jobs than any

president since hubert who herbert

hoover it's kind of quite a name so

join us on the journey all right uh

there are so far i do not see any extra

details coming from bloomberg

i will check also the bloomberg terminal

will go into the terminal in the

meantime we

are still trying to find that bottom

here on the market right now

doubling essentially the capital gains

rate for

high income americans uh can you tell us

any more about that plan and do you have

any concerns that

that would discourage long-term

investing this could move the market

we're still finalizing what the pay

force look like

um but i will say that the president's

calculation

is that there's a need to modernize our

infrastructure there's a need to invest

in

child care there's a need to invest in

early childhood education

and making our kids and the workers of

the next generation more competitive

and he should propose a way to pay for

it his view is that that should be on

the backs

that can be on the backs of the

wealthiest americans who can afford it

and corporations and businesses who can

afford it

and his view and the view of our

economic team is that

that won't have a negative impact there

are alternative views or there are

proposals that don't exist yet on how to

pay for it that will be a part of the

discussion but

he stays firm to his commitment to not

raise taxes on americans making

under 400 thousand dollars a year and

he'll have a range of proposals on how

to pay for his

plans to invest in education and child

care got it and then finally

can you tell us anything about these

reports that the pentagon has been

investigating

suspected directed attent energy attacks

likely by the russians against u.s

troops

well i believe the uh head of uh one of

a very high level member of the military

spoke to this and denied those

accusations or allegations uh and said

there were no

uh he did not have any evidence of those

reports and that's in we're gonna back

off that for a moment let's go ahead and

jump to the sticks here

so no additional details there from saki

not

a terrible surprise get more details

uh maybe maybe we'll circle back to more

details later

all right well that's a bummer uh

all right so short-term more bad news

it's just what we need in this market

right now

this market has just been garbage the

last two months have

shocked uh it's actually been like

actually about two months now

not crazy two months and two days here

so i'm trying to see if bloom

term is gonna give us any more insight

here

but i believe this is the same right now

as the front page of the bloomberg

it is uh no additional details come on

laura

davison come on allison we need we need

some more deets

where are the deets

i don't know okay bitcoin trying to

stabilize again above 53

000 but did also have a sell-off move

here

ethereum fell as well off of its highs

today

we fell from about uh we hit a peak

price there of about

6 26 46 right now we are down about 120

off of that peak at about 25 46 at the

moment

uipath still holding on to some nice

gains there after its

uh offering yesterday end phase and face

climbing so we're seeing a recovery

right now

very good a very good to see recovery

doge

still stuck at 29 dogecoin did not make

a movement

uh on doge day uh we got chargepoint

moving back up okay so we're seeing

some recovery here i know tesla and ryan

and blocked

and some of these were particularly

affected let's see riot

not seeing a good a recovery here

fisker's trying to recover those having

a bad day here voyager digital had a

disastrous sell-off after that news

trying to recover

we've got coinbase still sitting at 295.

really rough here boy oh boy i'm tempted

to plow into some shares of coinbase

in fact you know what oh crap

on my phone

darn it can i go to robinhood.com

robinhood i've honestly i've never used

robinhood.com

um whatever i'm not even going to bother

right now i'll do it afterwards

so uh remember any trades that i make i

always uh

put out an exact alert with what i

bought or sold

in the uh stocks and psychology money

group which is really just a free bonus

in addition to obviously the lectures

that you get

in the program the live streams and so

on anyway let's see if anything else is

recovering

no credit suisse no big sell-off here on

the minute

american airlines got pummeled and it's

staying down

tesla struggling to try to recover here

that's so good not so good let's see

saki for a moment

um i just want to circle back on russia

again so nope

talking about russia circle back

circling back circle back saki

uh all right what else lucky canoe

spax getting whacked again yeah

churchill capitals recovering

see churchill capital recovering looks

like we did hit about a bottom

and uh we are recovering so we do have a

trend of recovery if you're a trader

uh this uh hopefully you've already

caught some of this trend but we are

seeing a little bit of a recovery here

after the shock of this news remember

this doesn't

really affect my guesses 99

percent of you watching this does not

affect you directly

uh this uh this really affects uh the

one percent

this affects uh you indirectly

with stock pricing though so if you are

a trader this this

is something to consider but we are

seeing a little bit of recovery here

so kevin gonna pay over 40 or more how

do you feel about that yeah it's

actually going to be over

uh with thanks to california it'd

actually be almost 60

that i would be paying i'm rounding okay

be like 57

but uh i i will be very

transparent here i

uh will probably depending on on when

this this happens i probably won't be

able to do options

uh short of just like day trading but

like my

my big yolo on the options uh

i i you know my plan was to let it let

it sit for a year and milk long-term

capital gains

joe biden just destroyed me of about

20 of those returns if that plan passes

uh which is is

obviously disappointing it probably

means i'm going to rotate out of my

options sooner

next time we get a big rally i'll

probably circle out especially with this

cap gains tax

on the horizon we'll see when it takes

another factor

but it's obviously not ideal

so uh yeah yeah that it does change the

uh

formula for some longer term place

all right so what else you move to

puerto rico i know right

uh introducing me kevin live from canada

let's go back to saki for a moment what

else he plans to unveil at

his joint address well uh he is um

currently thinking through uh which what

priorities he wants to focus on uh in

the joint address

certainly recognize it says this is an

opportunity to speak directly the

american people one of the highest

profile opportunities that

any president has in their first year in

office so core of that will be

uh him laying out the specifics of the

american family's plan

uh his commitment to child care to

education

uh and uh to delivering on those

priorities uh

and middle-class priorities and ensuring

uh that there's an investment in

economic security from the federal

government

this is more generic here so uh let's uh

let's see here so hmm

tesla down uh now 2.3 we're covering a

bit

certainly recovering from the lows of

the day so we are getting a recovery in

the market

uh let's see here you time trying to

recover

coinbase trying to recover from its 290.

uh

game stops trying to recover voyager

digital is on a recovery path

so we had a little bit of a buying

opportunity here if uh if you had

opportunity or if you had money

available

uh for me uh i'm i'm a little bit on

standby mostly because i'm

i'm i'm pretty happy with with the way

my portfolio is set right now

i don't i don't need to plow in though i

did add more this morning

obviously uh had i not added this

morning

could have used that funding to buy this

freaking dip uh but who would have known

that would have come out from uh

from biden you can't predict that

charts don't tell you that and

fundamental analysis doesn't tell you

that it's called politics and you just

don't know what's going to happen

but i it does look like in all fairness

it does look like things

are trying to recover i don't know if

we're going to get back to

session highs of the day honestly that

would be the craziest u-turn

if everybody just panicked on this and

we get a full recovery here

my margin is paid off chris i moved into

options

27 into options now so

yeah very very incredible here this

passes will i leave california

i think it means more real estate folks

honestly

like i would rather i would rat in some

sense like people like

oh but the cash flow and california real

estate's so low

yeah well i don't want to pay 60 on my

cash flow

anyway so i'll take low cash flow

buy in very high quality appreciating

areas

coastline real estate and uh

and and essentially never pay taxes

via the 1031 exchange so

there are some cool opportunities there

with uh with real estate but wow wow wow

yeah okay anything else i think we're

pretty stable right now on the sticks

they are trending back up which is good

i'll look at the sp

why and we'll take a quick peek at the

dao

spy trying to recover dow jones

industrial

uh dow jones what do they show it as on

weeble

dow jones industrial average i mean

they're not

recovering as well let's listen to okay

saki is

done never mind jensaki's done

take a peek at the term no particular

news here

investors selling everything on capital

gains plan

yet don't frickin say yet don't say

uh traders are piling into the options

market to bet on or

protect against further surges in

agricultural commodities

selling pressure in stocks is

accelerating with only a handful of

telecom shares in the green

corn surges okay capital gains

is probably off uh let's see here

uh okay i'm furiously googling stuff

like joe manchin's thoughts on capital

gains

[Laughter]

no kidding he's the only lord and savior

right now for rich people

and kirsten cinema uh

the closest i find let's see if we can

help him out make no mistake financial

one let's see if we can help him out

let's let's get kirsten cinema let's see

kirsa

kirsten cinema

capital gains tax

uh tax reform

on the issues cap nope okay no mention

here

hmm

okay

so that's not good right here

according to americancrossroads.org

kirsten cinema says and this is uh this

is looks like it's older right

this is an older one but in the past

looks like from 06

cinema has said she would greatly

increase income tax for those making

over 75k a year as well as capital gains

tax and corporate taxes

so i guess we're stuck with joe manchin

uh capital gains tax

you do not have to pay taxes if you sell

your real estate if you do a 1031

exchange talk to a cpa i'm not a cpa and

i'm certainly not your cpa

let's see i gotta get joe manchin

joe manchin joe manchin uh capital gains

oh please with a pop up hill

oh my gosh seriously you know auto play

videos now too

he'll you're killing me okay

um capital gains tax now i don't see

anything on match yeah surprisingly

here we go mansion box this is all we

have

nothing on capital though do we have

capital now

nothing on capital gains but we have

mansion balking at the corporate tax

rate going up to 28 percent

but we already knew that so we don't

have any insights right now on mansion's

opinion

on on the capital gains tax and i think

that's what kind of

everybody is looking for joe manchin i'm

gonna do a little revised search here

rain raise capital gains let's see if we

can just search that race capital gains

uh called biden to joe mitch it would

joe mansion

uh okay what is this

mansion mitch is not even on this page

yeah this is pretty crappy here's uh

what do we have here

mansion nobody's got quotes from mansion

you gotta be kidding me

okay here we go so this was ending the

filibuster mansion says he would vote

against that we already know that

yeah no good info

on mansion no wonder we're all we're all

wondering

what's going on with the mansion's

opinions on this so this is going to be

the big question

is do we actually expect this to pass

and i think it's going to come down to

the moderates it's going to come down to

those in the middle like the joe

manchins

uh let's see

[Music]

ask joe manchin for an interview uh

politicians don't seem to respond

honestly

okay because i have tried before but you

know what

let's do it and let's all retweet it

okay we got we gotta know

we gotta know let's tweet them up right

now okay here we go

uh man all right here we go

at joe manchin sometimes they have two

let's see mansion senator joe manchin

no i think that that must okay that must

be his only one joe manchin

okay cool uh what should we say

hey joe manchin would you be open

to an interview on youtube

to discuss joe biden's

infrastructure plan future stimulus

and capital gains taxes hashtag

capital gains

uh we would love to host you

yeah i think that's nice what do you

think i didn't call him a paper hander

uh you know yeah so i think that's fair

yeah if you do me a favor left oh look

oh

sarah eisen's trying to beat me to it

does joe manchin support this

sarah sarah we can't let sarah beat us

do this

although i will give sarah hart uh no no

no no

this one retweet this one not sarah no

i'm just kidding

you could retweet sarah's too if joe

manchin comes on cnbc that's fine too

but uh yeah wow well we we gotta know

so do me like do me a favor if you want

to know the answer to that

retweet this quote retweet it uh

like we need joe manchin talking on this

capital gains issue because

uh capital gains right now is trending

we gotta

we'll have to stand by for more

information we do not have more

information right now

other than uh obviously the market

having adjusted downwards

going back to the sticks momentarily

because gen saki didn't give us more

insight

it does look like some of the market is

trying to recover the dow jones

industrial average

trying to recover here we'll go ahead

and hit the spy

spy also attempting a recovery

we've got tesla that got hit almost

three percent on the decline

now to about 2.29 percent so also

attempting a recovery here

but uh definitely a slap in the face on

the stock market as well

so uh folks we'll have to stand by and

see how the rest of this uh plays out

again mark your calendar for next week

when joe biden speaks on this

are we going to see this capital gains

tax increase take effect

2021 or will it be as of 2022

or some kind of mixture where it's like

july of 2021 or whatever

i would imagine it'd be for some kind of

full year it'd be complicating otherwise

for your taxes

anywho appreciate you watching thank you

so much i will be back for a market

closing live stream

probably in about 45 minutes gonna go

have some lunch

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all right folks thanks so much for being

here