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Feb 14 - White House considering tax incentive for more Americans to buy stocks, sources


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 2 weeks ago '11        #1
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Sin  topics gone triple plat - Number 1 spot x9
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Feb 14 - White House considering tax incentive for more Americans to buy stocks, sources
 

 
KEY POINTS
The White House is considering ways to incentivize U.S. households to invest in the stock market.
Under the proposal, a portion of income would become tax-free for investment purposes.
The Trump administration is considering several proposals as part of a forthcoming economic stimulus package.


WASHINGTON — As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market, according to four senior administration officials familiar with the discussions.

The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). Under one hypothetical scenario described by multiple officials, a household earning up to $200,000 could invest $10,000 of that income on a tax-free basis, although officials noted these numbers are fluid.

“Nothing’s ruled out,” said one senior administration official. “Nothing’s been ruled in, either.”

Larry Kudlow, director of the National Economic Council, told CNBC the approach looked at most closely centers on creating universal savings accounts, which would combine retirement, education and health care savings into one vehicle.

Money put into the account would be done so on an after-tax basis, and taxed when withdrawn as well; but any accumulation of profits during the investment timeframe, known as capital gains, would not be taxed. Kudlow told CNBC this policy, if pursued, may extend to bonds as well as stocks.

Kudlow noted that this and other ideas have yet to be fleshed out, and no decisions have been made.

The development comes as President Donald Trump seeks reelection this fall. He has sought to distinguish himself from his potential Democratic rivals by accusing of them of pursuing “socialist” policies while he has touted tax cuts and deregulation under his administration.

After the Great Recession, the percentage of American households owning stocks fell to 52% from 62% before the crisis, according to Gallup. That percentage reached 55% in 2019, a year when the stock market hit record highs.

The tax break, if enacted, would represent “a pretty substantial amount of money for people” to have for retirement, according to Stephen Moore, economist at the conservative Heritage Foundation and close confidante of the White House.

“That’s the type of thing that would expand ownership,” Moore tells CNBC.

The stock market’s rise under Trump’s tenure is a well-documented point of pride for the president and his top economic officials, who have called the Dow Jones Industrial Average a “barometer” and a “mark-to-market indicator” of the administration’s performance. The S&P 500, seen as the broadest index of corporate performance, has risen 49% since Trump took office.

The White House publicly has been pointing to the package as a new shot of adrenaline in an economy whose growth shows signs of slowing 10 years into an expansion. A payroll tax cut would become an option only if the economy experienced significant decline, according to two senior administration officials. Separately, Kudlow has suggested cutting the tax rate to 15% for middle-class earners.

Kudlow and Vice President Mike Pence have suggested that the package could be unveiled in early fall, as voters are deliberating whether to elect Trump to a second term.

New tax cuts are “one of the reasons why we’re going to focus so much energy on making sure that not only do we get President Donald Trump four more years in this White House,” Pence said in a recent interview on the Fox Business Network. “But we’re going to make sure that we reelect a Republican Senate and elect a Republican House of Representatives.”

Any tax cuts would need congressional approval to take effect, a tall order while Democrats have the majority in the House of Representatives. For that reason, officials described the proposal that would be made public as “conceptual in nature.”

“It’s sort of an idealistic document,” said a senior official involved in discussions. “Sort of, ‘If you reelect this administration, this is what you’re going to get.’”

visit this link https://www.cnbc.com/2020 .. uy-stocks.html
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 2 weeks ago '20        #2
Born Bad 
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I think its a great thing, invest in something that will make you money people. Not blowing your cash on useless things.
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 2 weeks ago '10        #3
Bandito 
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Just another scheme to siphon money from the 99% to the 1%. They already tricked people to drop real retirement benefits for 401k plans.
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 2 weeks ago '18        #4
DUCEDUCE 
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More tax cuts for the rich. Poor people are living check to check heres a tax cut if you invest in the stock market. Come on this is bullsh*t.
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 2 weeks ago '17        #5
Lazy 
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Good idea on the surface but it will be used to further class inequality
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 2 weeks ago '17        #6
Ifeellikekobe 
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Why? They said the stock market is doing great

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 2 weeks ago '20        #7
Born Bad 
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Small minds get no shine
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 2 weeks ago '10        #8
Bandito 
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 Born Bad said
Small minds get no shine
How is it small minded to see this is not a scam?

They want to take money that has already been taxed. Put it into a fund and if you withdrawal it is taxed again. Unless it is profit from the stock market which you can already get away with paying zero taxes on if you know what you are doing. Most people don't.

This is the same scam as 401k plans. Now they want people to add any extra income they have laying around as well as money from health savings accounts.
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 2 weeks ago '20        #9
Born Bad 
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 Bandito said
How is it small minded to see this is not a scam?

They want to take money that has already been taxed. Put it into a fund and if you withdrawal it is taxed again. Unless it is profit from the stock market which you can already get away with paying zero taxes on if you know what you are doing. Most people don't.

This is the same scam as 401k plans. Now they want people to add any extra income they have laying around as well as money from health savings accounts.
How do you make money if you dont mind me asking?
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 2 weeks ago '07        #10
joshdogg26 
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they really gonna keep coming up with hollow schemes to prop up this fake economy that don't stop anybody struggling from continuing to suffer.
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 2 weeks ago '20        #11
Born Bad 
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Everybody know sooooo much, why yall broke? If 100% of you cats had the opportunity to fu*k people over and be stupid rich you would! Me i just want a piece


Last edited by Born Bad; 02-14-2020 at 03:23 PM.. Reason: On da henny
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 2 weeks ago '17        #12
lucifershammer 
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All that "loss wealth" went into the hands of the elite. Tax them
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 2 weeks ago '17        #13
Naga Sadow  topics gone triple plat - Number 1 spot x2
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This will benefit the rich by once again over inflating stock prices. How about money to invest in our own personal lives.
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 2 weeks ago '16        #14
OWPE 
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Its gonna be hilarious when Trump wins re-election. All these people claiming the economy is in shambles, but watch what the voters do.


 2 weeks ago '08        #15
Kewop Decam 
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 Born Bad said
Everybody know sooooo much, why yall broke? If 100% of you cats had the opportunity to fu*k people over and be stupid rich you would! Me i just want a piece
This kind of thinking is why 99% are so far down with just 1% so far up. This is terrible thinking.
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 2 weeks ago '04        #16
R Dot 
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When people start having more cash to spend they can do things like investing. Can’t invest in sh*t when your perpetually broke
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 2 weeks ago '20        #17
Raynald 
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I will perform a voodoo ritual for Trump supporters to invest in a Trump advised stock and lose EVERYTHING... accept their guns.

 2 weeks ago '06        #18
tonygunz 
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 Bandito said
Just another scheme to siphon money from the 99% to the 1%. They already tricked people to drop real retirement benefits for 401k plans.
Pretty much

 2 weeks ago '09        #19
Hamburgers 
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Thats my fu*king President!!

Haters will find a way to blame Trump for this because somehow everything he does is wrong.

I don’t see any downside to this and it helps our economy continue to flourish. Come on libs, school me on how the President is targeting minorities with this.
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 2 weeks ago '05        #20
Tha TC 
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fu*k so the next economic crash even more wealth will get swiped from “common folk” Yeah I think I’m going to pass
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 2 weeks ago '05        #21
Tonero 
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Buy crypto , its cheap and a throw away. You can use change found inside the couch to invest it musnt even be big. Couple years from now even more people will be rich on the low
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 2 weeks ago '20        #22
Born Bad 
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 Kewop Decam said
This kind of thinking is why 99% are so far down with just 1% so far up. This is terrible thinking.
I agree, i seen it first hand my G. I aint fu*king nobody over for mines. Even in my worst time i never have. But this is the world we live in. Some of these cats idols have done it continuously. I didnt make the rules.
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 2 weeks ago '20        #23
Born Bad 
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 R Dot said
When people start having more cash to spend they can do things like investing. Can’t invest in sh*t when your perpetually broke

You got a point
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 2 weeks ago '20        #24
Xiox 
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What about reducing everyone's taxes under 500k to 5%
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 2 weeks ago '12        #25
OldBusiness 
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Probably as real as his supposed middle class cut
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