White House considers tax incentive for more Americans to buy stocks

[brokephibroke]

https://www.cnbc.com/2020/02/14/white-house-considering-tax-incentive-for-more-americans-to-buy-stocks.html?__source=iosappshare%7Ccom.google.chrome.ios.ShareExtension

What do you think? It would be a boost to the stock market which trump seems to use as his barometer of success. But at the same time, stock market investments are riskier than cash.

[blueinredohio]

1. My brother lost his house (which was paid for) by playing the stock market.

Count me out.

[RandySF]

2. Moral hazard

Could lead to people getting in over their heads.

[coti]

3. The stock market is turning into a pyramid scheme. nt

[pangaia]

4. WHAT? What a stupid fucking idea..

I wouldn't know where to begin...

[Turbineguy]

5. Trump supporters need looting.

[TheCowsCameHome]

6. ...and when it tanks, Trump will blame everyone else.

No. Thanks.

[Autumn]

7. Pay a bill or buy stocks? What out of touch dumb ass fucks.

[SWBTATTReg]

8. Already get a tax break. Long term gains are taxed at 15% or less already. Gains under 1 year

holding time are taxed at regular income rates. They're trying to artificially boost the market, especially since the 2017 tax cut and jobs bill was passed, and now they want to boost it even more? There is only 1 group of people would be benefit mostly, the 1%ers as usual.

[Midnight Writer]

19. Exactly. Unless you are low income, you already get a nice tax break on capital gains from stocks.

[Newest Reality]

9. Yikes.

I don't even know how to respond to that.

The holdings of stocks are largely by the upper-income brackets. When you have enough wealth, you can diversify and even manage your risks, as well as increase wealth. I consider Wall St. to be rather decoupled from Main St. at this point, so the winners, in my humble estimation, will once again be the upper percentile, not everyday folks who will be gambling more than anything. It's a shot in the arm for Wall St. though, ey? More fealty to wealth that SOUNDS like it would help people.

I also would like to bring up what helped lead to the Great Depression, and it was a bit like that.

[redstatebluegirl]

10. A large percentage of Americans cannot afford food and housing much less the stock market.

Republicans are totally out of touch with the common man. Stock market, are you kidding? My grandfather who lost a ton of money during the crash said it was like playing Russian roulette with a loaded pistol. A person living paycheck to paycheck can't even begin to think about going into the market.

[alittlelark]

11. Gonna crash SOON.... looking for a little more frosting

on the short sellers cakes.

[hamsterjill]

16. Yep. And then debtor's prisons.

Proceed with caution, me thinks.

[Wounded Bear]

12. The market is already pushing "bubble" status IMO...

I think the sugar rush from the tax cuts are wearing off. He knows he won't get away with another tax scam with the Dems in charge of the budget. They're running out of scams to prop up the market.

They need to work the other end, and tax stocks like they tax regular income. And they need a transaction fee.

[sinkingfeeling]

14. +1000

[Fullduplexxx]

13. Life boat for a about to crash stock market

[superpatriotman]

15. Pandering to the rich

And the poor who really, really believe the rich are looking out for them.

[Luciferous]

17. Most people don't have money to buy stocks, tax incentives or not.

[Tanuki]

18. This is the same economic genius who thought we could lower the national debt

simply by printing more money.



https://www.google.com/amp/s/www.cnbc.com/amp/2018/09/11/trump-once-considered-just-printing-money-to-lower-the-national-debt-woodward-reports.html

"As acandidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep.

Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward's new book, "Fear: Trump in the White House," which went on sale Tuesday.

"Just run the presses — print money," Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.
"
You don't get to do it that way," Cohn said, according to Woodward. "We have huge deficits and they matter. The government doesn't keep a balance sheet like that."

Cohn was "astounded at Trump's lack of basic understanding," Woodward writes."...(more)

[Yo_Mama_Been_Loggin]

20. Because we have to juice the stock market even more?

The CEOs will like it since the huge bonus they get is mostly stock.

[avlbeerfan]

21. Playing the market

I wouldn't play the DOW but investing in your local utilities might be an idea.
Years ago penny stocks would actually pay dividends it was small business owners and they worked their butts off.
If they decide to do this for bonds as well Municipal bonds are good and safe with steady returns usually tax free.

[pansypoo53219]

22. fuck the wall street CASINO.

[wishstar]

23. His advisors must be concerned about recession to be floating economic stimulus

Reminds me of the Bush Admin when they tried several stimulus ploys to prop up the economy but nothing could stop the inevitable crash.