Still think TITNC3: Return of the Iceberg was peak

Scott sure did love growing and consuming tomatoes

 

So I signed up for Robinhood due to constant nagging from a friend so he could get a free stock. It gave me one share of Vaxart, not bad. ~$5. I threw $15 at Doge just to say I tried.

 

Exactly what was predicted in the everyone’s a shill

 

Was that dude into selling used socks? I’ve heard of that one actually. Like Japan but for socks. I guess I’m too new around here to know

We use it in aero. Not we as in my company but we collectively. Engine builds - if you can do a VR build of the tools and parts, you can really get in there and show the A&P what’s happening or correct their mistakes before they become a real issue.

that said - I think it’s short lived. Long term - robots, and 3D printing will do a lot too.

 

Today was fun. 12k up to 15k down in 20 minutes. That's one of the bigger swings I've ever taken. Time to wait and see if the market shakes this off quickly or trades sideways for a while. I'm not making any decisions on what to liquidate until next week.

 

I think it’ll shake it off quickly. It wasn’t a surprise. If it was then it would have been a much larger and longer response. Tomorrow is Friday though so probably flat or down.

 

Northrop Grumman recently was awarded the rather large contract to develop new ICBMs, so they would be hurt if that got cancelled. Of course, they are also building the new bombers that the AF is saying they would use to replace the cancelled ICBMs, so...???
Either way, I don't remember their ticker moving a whole lot when they got the ICBM contract.

 

Just got this from BlockFi. 10% ROI through august - I mean, I wouldn’t sell off stuff to get in there but I’m tempted to say the least. Sounds like they’re trying to get some money in their banks and can make more than 10% through august with it.



edit sorry 10% APY through august. Way I meant but realize what I typed.

 

the proposal is for those who take home more than a mil. So even if I have 1.2mil in my 401k if I only take home 75k on my w2 I wouldn’t be hit with it, for example.


PS delete who proposed it and just discuss the proposal - avoid the ban hammer.

 

Hey, watch it!

 

It's not the fact that it's a surprise. It's the fact it is the single largest capital gains tax ever proposed if it's true. By more then 6%. That's gonna pull a lot of money out of the market into other assets. The proposed, again if true, CG tax is 2.9% higher then the highest income tax bracket. Money will flow into interest bearing derivatives since interest earned is taxed at your income tax rate. Even more so if the fed raises rates which they will have to to counter inflation at some point.

It's pretty much what I said before.

Fuck.

 

Getting pretty sick of banks holding us hostage. Raise the rates and let this piece of shit market burn to the ground for all I care.

 

I. Uhm. Oh. I thought that shit only happened on the Jeep forums.

 

Well your quote is already there but yea i shoulda cut that bit out and maybe worded it a bit more softly. I posted that before i got through all the posts going over the boundaries again, sorry. But still i don't see how that's gonna fly. 10% YOY with capital like that is already tough to do. Take that away and i don't see why any large investors, funds, etfs, etc.. would keep their money in the market

 

If any large investor wants to give me 900k, I will gladly invest it in my own account for a 10% fee +taxes paid on all gains. They would still come out ahead.

 

Yep, you'll totally come out ahead in that scenario. It's amazing how enough hatred can get people to hope for things that will harm themselves, as long as they think it will also harm whoever they hate.

In what way is a bank or banks holding you hostage?

 

Just because it may harm me short-term does not mean it's not a good thing long term.

"Too big to fail" comes to mind... Let's let them run amuck doing as they please, then bail them out because it'd be too painful for us to realize the repercussions.

Or how about threatening to move operations any time it's discussed to raise taxes or close various loopholes?

There's also the whole "create a sell-off in response to non-news about taxes to scare the public based on their own investments/401k and create public backlash in our favor" trick.

I don't know a whole lot about the finance world but I do know it's filled with crooks at every level. I'm the kind to cut off my nose to spite my face, and if burning them takes burning myself, that's a cost I'd pay every day.

 

“It would apply to those with more than $1 million in annual income, according to Bloomberg.”

this is what I was getting at. You don’t pay the (proposed increased) taxes on the cap gains if they’re over a mil. You pay the taxes if your annual income is over a mil. So if you take home 999k then you don’t meet that tax bracket.

It’s also a bracket. So your first mil is taxed as the first mil as always and then beyond 1 mil is taxed at the higher rate.

so far it is NOT on unrealized gains.


So it’s basically raising the tax rate for the annual income of over 1 million.




Opinion - it’s a bunch of people freaking out over nothing.