All three major indexes closed deep in the red. The Dow fell 0.9%, or 321 points. The broader S&P 500 and the Nasdaq Composite also fell 0.9%.It's not surprising that Wall Street doesn't like higher taxes, particularly when it comes to capital gains — the levy investors pay on realized profits after selling a stock, for example.The Biden administration wants to raise taxes on the wealthy to pay for the pandemic recovery.
To be fair to the worried investors, the proposed rates look very different from the current ones, with a top federal capital gains tax of only 20%. Individuals earning $200,000 a year and married couples making $250,000 a year also pay an additional 3.8% tax on their capital gains to help fund Obamacare.Wall Street is not impressed and the shock from these numbers is hard for investors to shake off, said Edward Moya, senior market analyst at Oanda, in a note to clients.
It's a sale on the market rn. As it continues to slide, establish better positions now.
Call Donald. He can help.
tihuachang It's a buying opportunity!!!
who cares 🙄
Not concerned about the stock buy back companies. They will be just fine and the Market will continue to grow. It’s like a toddler throwing a tantrum.
Fucking Biden making me lose a shit load of money, mother fucker
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