Where is the dow jones at right now
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
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