S&P 500 joins the NASDAQ at all-time record high

[isingmodel]

Joe Biden last night re-confirmed that he will raise taxes on corporations. He literally said that it is time corporations pay their fair share in taxes.

Biden just lost tens of millions of votes from the 1.5 million corporations and employees in the United States. Not to mention the political shock waves those statement made last night. It was already known he would do this, but for him to re-emphasize it last night, was a major political mistake on his part.

During or after a recession, you do not raise taxes. Democrats have no clue on economics and they do not care about employees and their jobs, because this will cause higher unemployment because these corporations will have to lay off employees since employees are the first to go when expenditures like taxes are raised.

The economy has performed much better under Democrats.

https://evonomics.com/economists-agr...eight-reasons/

Republicans should learn how to economy one of these days. And there's much more to it than inflating stock prices with buybacks and the Fed.

[Mark1T]

The economy has performed much better under Democrats.

https://evonomics.com/economists-agr...eight-reasons/

Republicans should learn how to economy one of these days. And there's much more to it than inflating stock prices with buybacks and the Fed.

COVID derailed the economy in the US and globally. The markets have already made up what was lost during COVID.

Not too many corporations except the very top 30 have the ability to buy back stock and those that do, are very few and I personally do not like it when the do. But, stock buy backs do not affect the stock market overall.

Opinions vary on which party has the better economies. As a business owner, I would rather pay less taxes so that I can either pay my employees more or hire more, or both. It isn't a matter of making more profit. It is a matter of overall volume of business.

[isingmodel]

COVID derailed the economy in the US and globally. The markets have already made up what was lost during COVID.

Not too many corporations except the very top 30 have the ability to buy back stock and those that do, are very few and I personally do not like it when the do. But, stock buy backs do not affect the stock market overall.

Opinions vary on which party has the better economies. As a business owner, I would rather pay less taxes so that I can either pay my employees more or hire more, or both. It isn't a matter of making more profit. It is a matter of overall volume of business.

It's a basic economic reality that the economy consistently performs much better under Democrats. This is not controversial or disputed. Even Trump has acknowledged that.

Republican policies don't do much other than benefit the few are already doing incredibly well. Otherwise they aren't really good for anything, and the data is pretty clear on this.

[oaktownabroad]

I consider my self conservative and will vote for Trump.


Having said that the stocks are a joke right now and in no way or shape represent the economy or should be used to glorify Trump. Record unemployment numbers , many businesses still closed due to covid, crazy protests/riots in multiple major cities across USA, and election only few months away that will surely result in even more riots protests.

There is so much uncertinity right now in our economy and in our country that there is absolutely no LOGICAL explanation for the stocks to be this high.

Listen to this dude, he knows what he’s talking about.

[Bushmaster]

[Mark1T]

It's a basic economic reality that the economy consistently performs much better under Democrats. This is not controversial or disputed. Even Trump has acknowledged that.

Republican policies don't do much other than benefit the few are already doing incredibly well. Otherwise they aren't really good for anything, and the data is pretty clear on this.

I am not debating on which party has the better historical economies. I just care about my personal experiences. Yes, I made good money during Clinton and Obama. I would have done better with Trump's policies which are lower corporate tax rates and personal taxes.

The US's corporate tax rate was 35% before Trump, one of the highest if not the highest corporate rate globally. The 35% was not competitive and influenced large corporations to domicile offshore. Since the corporate was lowered to 21%, more money has and is coming back, as in repatriate.

We are currently experiencing the fastest recovery of the stock market in history and we are now in a Bull Market.

I do not agree with your last sentence. It is a left and false talking point to state that the current tax code has not improved for low-income earners.

[isingmodel]

I am not debating on which party has the better historical economies. I just care about my personal experiences. Yes, I made good money during Clinton and Obama. I would have done better with Trump's policies which are lower corporate tax rates and personal taxes.

The US's corporate tax rate was 35% before Trump, one of the highest if not the highest corporate rate globally. The 35% was not competitive and influenced large corporations to domicile offshore. Since the corporate was lowered to 21%, more money has and is coming back, as in repatriate.

We are currently experiencing the fastest recovery of the stock market in history and we are now in a Bull Market.

I do not agree with your last sentence. It is a left and false talking point to state that the current tax code has not improved for low-income earners.

In your first post you claimed Democrats do not understand economics, so I was merely pointing out the reality that they understand economics far better than Republicans do. And that pumping up already grossly overinflated stock prices has little relation to the lived-in economic realities of most Americans, and in no meaningful sense represents the economy.

[JoshSP1985]

In your first post you claimed Democrats do not understand economics, so I was merely pointing out the reality that they understand economics far better than Republicans do. And that pumping up already grossly overinflated stock prices has little relation to the lived-in economic realities of most Americans, and in no meaningful sense represents the economy.

Not my words below this was an email that was going around from Glenn Shepard who does management seminars. It's directly related to reporting of the stock market milestones. I don't subscribe but a coworker forwarded this around. Take it for what it's worth as some guys perspective on the thread topic.

The "Not-Grim" New Milestone You Missed Last Week
I take Covid-19 seriously.

I know four people who've had it, and one who died.

But if you went by the nightly news, you’d think it was the only thing happening right now. The media's favorite new phrase is "Grim New Milestone”, and they love to show predictions of how BAD the future will be if current trends continue.

While Covid-19 is far from over, there's reason to be optimistic with 31 vaccines now in human trials.

Five months into this, most people are more concerned about their finances than Covid-19, but the media never makes predictions of how GOOD the future will be if current trends continue.

Last week, we hit a new milestone.

The NASDAQ broke 11,000 for the first time in history. It had previously hit another milestone in June when it broke 10,000. Wall Street celebrated, but most of Main Street didn’t know about these events because the media largely ignored them.

While the Dow Jones Industrial Average still isn't back to it's all time high of 29,551, it's back above 28k and is headed that way. (In March, it was at 18,591).

When I reported that the DJIA had climbed back to 24k in April, Internet trolls sent nastygrams about how this only affects "Rich People" and not the average American.

They're dangerously wrong.

While the stock market doesn’t directly affect the nearly half of Americans who have no investments and live hand to mouth, it does affect them more than people like Bill Gates who don’t have to work.

Businesses make investments in their workforce based on what they expect the future to look like.

For example, the CEO of the Tuscaloosa, AL chamber of commerce told me the Mercedes plant there is over-hiring in order to keep running at full production. They clearly expect demand for the most expensive SUVs to remain strong.

And then there's your retired parents and grandparents living off their investments. They're probably not rich, but if the stock market doesn’t do well, you might end up supporting them.

It's not all good news on the financial front. Unemployment is still high, and millions of Americans are struggling.

But EVERYONE benefits when the stock market does well, and that should be reported.

Yours in Servant Leadership,

P.S. If you want your kids to get ahead financially, get them Dave Ramsey's "Financial Peace Junior: Teaching Kids How to Win with Money".

If Bill Gates spent a million dollars a day, it would take him 312 years to run out of money.

"Whoever controls the media, controls the mind"
- Jim Morrison

[Mark1T]

In your first post you claimed Democrats do not understand economics, so I was merely pointing out the reality that they understand economics far better than Republicans do. And that pumping up already grossly overinflated stock prices has little relation to the lived-in economic realities of most Americans, and in no meaningful sense represents the economy.

You are trying too hard to find little errors. To clarify though, the democrats are making a major mistake. Scenario: If Biden wins, he will raise taxes across the board during or right after a recession. Historically a horrible mistake. With unemployment high and employers suffering and trying to survive, why raise taxes? That doesn't even help the government, because those employers who are teetering on whether to stay open or close for life are in jeopardy and revenue will slump.

If Biden becomes president and if he wants to raise taxes, he should delay it for a year. Even then it is too early.

[JesseV87]

You are trying too hard to find little errors. To clarify though, the democrats are making a major mistake. Scenario: If Biden wins, he will raise taxes across the board during or right after a recession. Historically a horrible mistake. With unemployment high and employers suffering and trying to survive, why raise taxes? That doesn't even help the government, because those employers who are teetering on whether to stay open or close for life are in jeopardy and revenue will slump.

If Biden becomes president and if he wants to raise taxes, he should delay it for a year. Even then it is too early.

From what I understand his tax rate reversals would apply to high income earners and a half-way reversal of the Corporate rate to 28%. He would also be increasing taxes on capital gains over $1 million, among other changes.

This would mean no additional burden on the middle class.

I do agree that the Corporate tax rate should be competitive and 35% was too high. I wonder if it would make sense for the Corporate tax rate to be marginal so that small businesses get more of a break.

[Mark1T]

From what I understand his tax rate reversals would apply to high income earners and a half-way reversal of the Corporate rate to 28%. He would also be increasing taxes on capital gains over $1 million, among other changes.

This would mean no additional burden on the middle class.

I do agree that the Corporate tax rate should be competitive and 35% was too high. I wonder if it would make sense for the Corporate tax rate to be marginal so that small businesses get more of a break.

Good points. IMO, the middle class would have the burden of not having more choices of employment, because if the corporate rate rises, the smaller corps that have employees, would be less enthusiastic to hire. "No additional burden on the middle class" sounds good, but it is deceptive.

A marginal corporate tax rate I will have to think about, but it should be debated. In reality though, Biden has already stated what he wants to implement, so whatever we think is merely speculation.

[chaunce54]

From what I understand his tax rate reversals would apply to high income earners and a half-way reversal of the Corporate rate to 28%. He would also be increasing taxes on capital gains over $1 million, among other changes.

This would mean no additional burden on the middle class.

I do agree that the Corporate tax rate should be competitive and 35% was too high. I wonder if it would make sense for the Corporate tax rate to be marginal so that small businesses get more of a break.

It should be zero since it gets passed on to the consumer anyway.

It's just ANOTHER tax that YOU AND I have to pay...

[oaktownabroad]

It should be zero since it gets passed on to the consumer anyway.

It's just ANOTHER tax that YOU AND I have to pay...

You know nothing, John Snow.

[Jrd86]

Dow closing in on 28k. Im not saying everything is peachy. But we were told by the resident libs that this wasnt supposed to be happening.

[JesseV87]

Dow closing in on 28k. Im not saying everything is peachy. But we were told by the resident libs that this wasnt supposed to be happening.

The stock market has been disconnected from reality for months now. The ones saying it shouldn't be happening are those who can't believe the absurdity of it and I don't think it's just libs.

[Jrd86]

The stock market has been disconnected from reality for months now. The ones saying it shouldn't be happening are those who can't believe the absurdity of it and I don't think it's just libs.

The stockmarket is a predictor of future expectations. The stock gains we are seeing currently are investors pricing in the economic boom that is expected for 2021. Investors expect a monster of a rebound. And theyre betting their money on it.

[MirinCanadian99]

In your first post you claimed Democrats do not understand economics, so I was merely pointing out the reality that they understand economics far better than Republicans do. And that pumping up already grossly overinflated stock prices has little relation to the lived-in economic realities of most Americans, and in no meaningful sense represents the economy.

People have been spewing the same bullchit about overinflated stocks and poverty going up for almost 2 decades now. I still remember the buy gold and buy crypto crowd that popped up in the early 2000's due to the 2008 financial crash. Guess what? The stock market recovered and were seeing the same crowd pop up saying the same chit as their early 2000's counterpart. Truth is the market is where its supposed to be and even if a crash did occur which it did with the covid pandemic the market rose back fairly quickly. If you left the crypto crew and invested in actual stocks maybe you'd make money and wouldn't need Yang and his promises of UBI which can't be funded with the 100 billion dollars in corporate welfare you guys always refer to .

https://www.census.gov/library/publi...11.8%20percent.
Poverty is going down in the USA so please stop talking about stuff you know nothing about. Truth is America is becoming a better place every year and it does not need a return to socialist-lite policies which haven't produced any results. Building schools and infrastructure might work on the short term but on the long run you need corporations and low taxes in order to encourage people to spend more and encourage people to become entrepreneurs.

With that being said I wish you the best of luck. You can expect at best 1000$ a year with Yang if he gets elected. Do some basic math and you'll see how dumb the guy you support really is.

[Mark1T]

It's a basic economic reality that the economy consistently performs much better under Democrats. This is not controversial or disputed. Even Trump has acknowledged that.

Republican policies don't do much other than benefit the few are already doing incredibly well. Otherwise they aren't really good for anything, and the data is pretty clear on this.

I just wanted to post this to bolster my comments:



I'm not disputing past performance statistics. But, there are other factors involved. The idea of a recession in addition to a pandemic and raising taxes makes no sense.

[semitope]

Stock market is a meme.

I just wanted to post this to bolster my comments:



I'm not disputing past performance statistics. But, there are other factors involved. The idea of a recession in addition to a pandemic and raising taxes makes no sense.

there are companies making record profits because of the pandemic and paying very little in taxes. You can raise taxes and give credits to those who need.

IIRC Obama was trying to get rid of the tax cuts for highest earners and cut taxes for less well off. Republicans weren't having it.

[Mark1T]

Stock market is a meme.

there are companies making record profits because of the pandemic and paying very little in taxes. You can raise taxes and give credits to those who need.

IIRC Obama was trying to get rid of the tax cuts for highest earners and cut taxes for less well off. Republicans weren't having it.

What you just posted is bullshiit.