Fuzz Posted December 22, 2012 Posted December 22, 2012 Because Reid follows the president, so once the president gives the blessing the dems will fall inline.
Swizzle Posted December 25, 2012 Posted December 25, 2012 What incentive is there to POTUS "wheeling-n-dealing" with Republicans when he's already going to get tax increases on the rich by doing nothing. Then Democrats and POTUS can pass a law WITH Republican support in 2013 for tax cuts for those earning less than $250,000....? 1
pawnman Posted December 25, 2012 Posted December 25, 2012 What incentive is there to POTUS "wheeling-n-dealing" with Republicans when he's already going to get tax increases on the rich by doing nothing. Then Democrats and POTUS can pass a law WITH Republican support in 2013 for tax cuts for those earning less than $250,000....? Bingo. The president is playing politics with this one, knowing that the fiscal cliff will give him the tax increases he wants, and knowing he can just keep forcing continuing resolutions through to avoid cuts to programs he wants to fund. 1
BitteEinBit Posted December 25, 2012 Posted December 25, 2012 Bingo. The president is playing politics with this one, knowing that the fiscal cliff will give him the tax increases he wants, and knowing he can just keep forcing continuing resolutions through to avoid cuts to programs he wants to fund. It is win/win for the POTUS....either he gets Republican support for the tax increases, or he can blame the Republicans for the fiscal cliff disaster. Either way, Republicans get caught with their dicks in their hands. We already know the sheeple that voted this man back in office will believe anything they hear. Regardless of the outcome, the Republicans will have their hands covered in this dirt....and the POTUS will sit pretty (at least to 50-something percent of the sheeple) looking like he tried his best to keep the average Joe's taxes from going up...when really, it is what he wanted all along. I have pulled out of the market in anticipation of failure of this government to strike a deal by the end of this week and the resulting crash that I think will happen either Thursday or Friday. Good luck to all!
Spartacus Posted December 25, 2012 Posted December 25, 2012 It is win/win for the POTUS....either he gets Republican support for the tax increases, or he can blame the Republicans for the fiscal cliff disaster. Either way, Republicans get caught with their dicks in their hands. We already know the sheeple that voted this man back in office will believe anything they hear. Regardless of the outcome, the Republicans will have their hands covered in this dirt....and the POTUS will sit pretty (at least to 50-something percent of the sheeple) looking like he tried his best to keep the average Joe's taxes from going up...when really, it is what he wanted all along. I have pulled out of the market in anticipation of failure of this government to strike a deal by the end of this week and the resulting crash that I think will happen either Thursday or Friday. Good luck to all! Man you are spot on. This is exactly what is going on. I have also pulled out of the market and think that we could see something similar to 2008 if we go off the cliff. Am hoping to get back in near the bottom and possibly make enough to cover my higher tax bill for 2013/2014.
Ram Posted December 26, 2012 Posted December 26, 2012 (edited) If you guys are as good at predicting the market as you are at political insight and predicting elections, I'm sure you'll all be millionaires soon. Well at least until Barack Hussein takes it all and gives it to crackhead welfare queens. You're almost correct. I will be a millionaire in a couple decades (that's "soon" I guess). Of course, loaves of bread will be $1000 and gallons of milk will be $750 by then. Edited December 26, 2012 by Ram
Buddy Spike Posted December 26, 2012 Posted December 26, 2012 Man you are spot on. This is exactly what is going on. I have also pulled out of the market and think that we could see something similar to 2008 if we go off the cliff. Am hoping to get back in near the bottom and possibly make enough to cover my higher tax bill for 2013/2014. Completely agree. Just pulled out today. Moved everything to tax exempt long and intermediate term funds.
BitteEinBit Posted December 29, 2012 Posted December 29, 2012 If you guys are as good at predicting the market as you are at political insight and predicting elections, I'm sure you'll all be millionaires soon. Well at least until Barack Hussein takes it all and gives it to crackhead welfare queens. Working the market is all about predictions...sometimes you're right...sometimes you're wrong. I've been right more times than I've been wrong, which is partly why I'm more than halfway to becoming that millionaire. Give it another 7-10 years...that is soon enough for me. I'm actually surpised the market didn't dip as much as I thought it would. I was expecting a 500-800 point drop between Thursday and Friday. There must be some brave investors out there who really believe this administration is going to make a deal by Monday. I hope for everyone's sake they do...but I'm certainly not banking on it.
disgruntledemployee Posted December 30, 2012 Posted December 30, 2012 Maybe "The Market" knows something we don't. Maybe "The Market" doesn't care too much about sequestration tax rate increases because it thinks that they will be temporary. Maybe "The Market" is waiting for some other event to occur. Maybe someone forgot to tell "The Market" that its supposed to drop faster than Suzie Favor's underoos. BTW, who is "The Market," some energy entity blob? Out
HeloDude Posted December 30, 2012 Author Posted December 30, 2012 I think you should just give me your money to invest for you...I'd do pretty well picking stocks blindfolded compared to someone who thinks that the stock market/exchanges do not react to national/world events--whether induced by new laws and regulations, enemy attacks, natural disasters, etc. Here is a refresher of how 'The Market' reacted after the 9-11 attacks. I wonder who told 'The Market' to react in such a negative way?
Vertigo Posted December 30, 2012 Posted December 30, 2012 Panic sellers... they always screw everyone in the short term. 1
HeloDude Posted December 30, 2012 Author Posted December 30, 2012 Panic sellers... they always screw everyone in the short term. Just like 'panic buyers' when it comes to all the recent gun/ammo/mags purchases. 1
FallingOsh Posted December 30, 2012 Posted December 30, 2012 BTW, who is "The Market," Out The market is people. A person is smart. People are dumb, panicky, dangerous animals and you know it. Even if we go off the cliff and "the market" doesn't completely crash, my investments still in the black will be taxed 5% higher. Why not just cash in now? The only downside I see to selling right now is if the cliff is avoided and "the market" experiences a short term pop.
amcflyboy Posted December 31, 2012 Posted December 31, 2012 Look at the bright side...if the market tanks, then gas prices go down!
Spartacus Posted December 31, 2012 Posted December 31, 2012 Look at the bright side...if the market tanks, then gas prices go down! Not if anything kicks off in the middle east. Then we get higher taxes, a worse economy, AND higher gas prices along with higher prices on everything else.
BitteEinBit Posted December 31, 2012 Posted December 31, 2012 Maybe "The Market" knows something we don't. Maybe "The Market" doesn't care too much about sequestration tax rate increases because it thinks that they will be temporary. Maybe "The Market" is waiting for some other event to occur. Maybe someone forgot to tell "The Market" that its supposed to drop faster than Suzie Favor's underoos. BTW, who is "The Market," some energy entity blob? Out If you think capital gains tax increase will be temporary, then you are actually making a "prediction" with regards to investments and you should invest accordingly. I predict just the opposite. I think capital gains tax rates will increase and will stay that way for the next few years. If I pull out, I lose no money if I'm right or wrong. If I stay in, I have the chance that I will pay 5% more in taxes on that same income next year in addition to potentially losing value on my stock as the "panic" sellers drive the stock value down. Why wouldn't I pull out? Making predictions WRT world events, tax rate increases, innovations and new technologies is how "the market" works. It is all about predictions...no one knows exactly what the market will do. Like I said before, sometimes you're right, sometimes you're wrong. I was wrong about Apple, Ford, and GE back in 2009...I didn't have the confidence in those companies at the time, so I lost some earning potential there. but I made up for it with other correct predictions. "The Market" is emotionally driven by the people who invest in it. If you want to keep your money in the market as it fluctuates, go ahead...history shows that it will recover over the long run so you will still be ahead. You just miss out on earning potential. However, if you would like to add risk and play the market whether as an amature or with professional advice, ride the waves of emotional ups and downs and make more money. The more you risk (predict and play the market) the more you make (and the more you stand to lose). I'm just a caveman investor, but I've managed to double my money every 7-8 years with low to medium risk investments while playing the market. Yes I've lost money, but I've made more than I lost. I'm going to continue to do it because it works for me. I pulled out of my long-term investments two weeks ago because I plan to invest in real estate next year...why not save myself 5% on my long term capital gains by cashing in before the rates increase? It makes perfect sense to me....but who am I? Just an amature caveman investor...
Danny Noonin Posted December 31, 2012 Posted December 31, 2012 bear in mind that your preferred debate tool, sarcasm, is also the lowest form of wit. Yeah, let's keep the internet debate between anonymous people (who won't be swayed anyway) classy. What website is this again? 1
Buddy Spike Posted December 31, 2012 Posted December 31, 2012 While you occassionally make a good point here and there, bear in mind that your preferred debate tool, sarcasm, is also the lowest form of wit. Just a friendly observation. Fear, sarcasm, and ridicule. Without them, no one would have wings.
BitteEinBit Posted December 31, 2012 Posted December 31, 2012 I might be swayed with a nice pair of boobs....boobs always trump sarcasm.
HeloDude Posted December 31, 2012 Author Posted December 31, 2012 Ah yes, the tried and true method of amateur investors trying to time the market. Truly a brilliant finance strategy that has been followed the world over with reliable success. This is why I come to this forum for financial advice from people "in the know". Tell me, what expert market analysis are you using? Wild emotional mood swings between fear and greed? I hear that works well. p.s. 9/11 happened with no advance warning whatsoever. we've known about the possibility of sequestration for over a year now. apples and oranges. Since you're slow, I'm going to teach you what I teach my students before they transmit on the radio: Think about what you want to say, say it to yourself first, then key the mic and transmit. Read what I wrote in regards to how I stated that ''The Market' does respond to various changes in society...I listed 9-11 as an example. I would never give financial advice on here as I pay somebody to do that for me. And P.S.--natural disasters don't typically offer much 'advanced warning' either but they certainly can affect 'The Market'.
nsplayr Posted December 31, 2012 Posted December 31, 2012 No Fiscal Cliff Fear: Dow Closes Up 166 Points.
Buddy Spike Posted January 1, 2013 Posted January 1, 2013 Deal was reached this evening, supposedly. https://www.foxnews.com/politics/2012/12/31/lawmakers-struggle-to-produce-fiscal-deal-as-ball-drop-set-to-ring-in-tax-hikes/
pawnman Posted January 1, 2013 Posted January 1, 2013 Deal was reached this evening, supposedly. https://www.foxnews.c...g-in-tax-hikes/ Oh good, we should be all set until this time next year.
nsplayr Posted January 1, 2013 Posted January 1, 2013 (edited) Deal passed the Senate 89-8, actual text found here. 5 Republicans, 3 Democrats voted against, notable "nays" were Rand Paul and Marco Rubio. BL: higher federal income tax rates for those making over $400K as individuals, $450K for couples, caps itemized deductions for individuals making over $250K, $300K for couples, a 5-year extension of 2009 tax credits like the Child Tax Credit, raises taxes on capital gains and dividends by 5% for those making over $400K/450K, permanent estate tax rate at 40% and exempts estates under 5 million/10 million for family estates, permanently patches the AMT, continues some business & energy tax credits for another year, does the Medicare doc fix for another year, 1-year extension of unemployment insurance, 1-year extension of the 2008 Farm Bill. Edited January 1, 2013 by nsplayr
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