Kamala Harris

https://www.cnbc.com/2024/10/23/nobel-prize-winning-economists-donald-trump-agenda-endorse-harris.html

Quote: GenoDRPh

So now you want capital gains adjusted for inflation?

They should be. Well really the best capital gains tax rate is 0% but we should not be taxing inflation gains. We do not do it for regular income why do I for capital gains?

A 0% capital gains rate would boom investment.

Quote: GenoDRPh

So now you want capital gains adjusted for inflation?

I’m not sure. If you lower that tax levy you’d of course have to raise something else, cut spending, or grow the national debt.

My point is that even though I ‘made money’ on those stocks, with the double whammy of huge Bidenflation and the taxes I paid I’m not ‘better off’!

Believe it or not, in general I’m not a ‘tax complainer’. I know I’ve been lucky enough to be in a position to pay gobs of taxes. Just my pet peeve…. don’t tell me I didn’t pay my fair share!

Quote: SOOPOO

I’m not sure. If you lower that tax levy you’d of course have to raise something else, cut spending, or grow the national debt.

My point is that even though I ‘made money’ on those stocks, with the double whammy of huge Bidenflation and the taxes I paid I’m not ‘better off’!

Believe it or not, in general I’m not a ‘tax complainer’. I know I’ve been lucky enough to be in a position to pay gobs of taxes. Just my pet peeve…. don’t tell me I didn’t pay my fair share!

If you aren't better off, why did you sell? If you needed the money to pay off a debt, help fund a large purchase, help fund your retirement or whatever, then be thankful you are in a position to have a such a financial cushion to fall back on.

After paying taxes on the capital gains, and considering inflation from the time you invested that money until the time you sold it, are you a net winner, a net loser or did you break even?

Quote: SOOPOO

My point is that even though I ‘made money’ on those stocks, with the double whammy of huge Bidenflation and the taxes I paid I’m not ‘better off’!

Adjusted for inflation and assuming all dividends were reinvested, the cumulative return on the S&P since Jan 2021 is 31% . Or 8.3% per year.

Nice return, but almost all of that gain was due to the 'Magnificent Seven'.

The S&P 493 has been relatively flat since 2021.

'How 3 Stocks Drove 49% of the S&P 500’s Gains in 1H 2024'

Quote: Tanko

Nice return, but almost all of that gain was due to the 'Magnificent Seven'.

On the flip side, I'm heavily invested in the magnificent 7.
People like me are thrilled with the stock market.
I got stocks outside the Mag 7 that have done fabulously
I'm giddy
I bought in summer of 2020 when I retired. I don't trade. Just buy and hold
Oracle up 200%
Caterpillar up 164 %
Costco up 106%
Walmart up 89%
Cummins 100%
I've done well 😉. Reinvest all dividends
Live off withdrawals from IRA and social sec

Quote: Tanko

Adjusted for inflation and assuming all dividends were reinvested, the cumulative return on the S&P since Jan 2021 is 31% . Or 8.3% per year.

your point here is just about meaningless since the S&P lost about 18% in 2022
the S&P has only had 3 large drops such as that in the past (almost) 24 years
so, the last 4 years are not representative

VST (Vistra) is not even mentioned as being in the magnificent 7 and it has crushed all of them with a YTD gain of 224%

and the magnificent 7 or top 3 are not all that impressive except for NVDA (Nividia)

Amzn, Meta and Goog have impressive gains but are nowhere close to NVDA

in the 6 months ending July 24 NVDA has gained 149.5%

edit - Goog (Google) now trails the index ytd and Amzn (Amazon) is just barely ahead of the index ytd

Aapl - (Apple) trails the index ytd

Msft (Microsoft) - 18.86% - barely beat the index for that period and now trails the index ytd

Tsla - (Tesla) -20.36% - a real dog but recovered after the link appeared but still trails the index with ytd gains of only 8.6%

Nvda and Vst have returns that are way, way ahead of any other stock among the so called Magnificent 7 ytd


https://get.ycharts.com/resources/blog/how-3-stocks-drove-half-of-the-us-market-gains-in-1h-2024/

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Capital gains are not taxable unless there is a trade and a profit is realized - dividends are of course taxable but many growth issues have smallish dividends

If the investor has a strategy of buy and hold and part of the reason he is investing is to pass along wealth to his heirs he may never have a capital gains obligation

in most cases heirs don't pay capital gains taxes. Instead the asset is valued at a stepped up basis. This tax provision is huge for many heirs since they may inherit assets that the giver has owned for a long time.

If you're an excellent trader, it may be worth it to aggressively buy and sell stocks and pay the capital gains taxes.

But if you're not, or you're not sure you are, most are prolly better off with buy and hold of an aggressive mutual fund or an index.

Many amateur traders, who see themselves as being highly skilled and highly profitable (compared to buy and hold) in reality are not - they're fooling themselves.

Many professional traders underperform the indexes.

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Quote: PotPie

your point here is just about meaningless since the S&P lost about 18% in 2022
the S&P has only had 3 large drops such as that in the past (almost) 24 years
so, the last 4 years are not representative

VST (Vistra) is not even mentioned as being in the magnificent 7 and it has crushed all of them with a YTD gain of 224%

and the magnificent 7 or top 3 are not all that impressive except for NVDA (Nividia)

Amzn, Meta and Goog have impressive gains but are nowhere close to NVDA

in the 6 months ending July 24 NVDA has gained 149.5%

edit - Goog (Google) now trails the index ytd and Amzn (Amazon) is just barely ahead of the index ytd

Aapl - (Apple) trails the index ytd

Msft (Microsoft) - 18.86% - barely beat the index for that period and now trails the index ytd

Tsla - (Tesla) -20.36% - a real dog but recovered after the link appeared but still trails the index with ytd gains of only 8.6%

Nvda and Vst have returns that are way, way ahead of any other stock among the so called Magnificent 7 ytd


https://get.ycharts.com/resources/blog/how-3-stocks-drove-half-of-the-us-market-gains-in-1h-2024/

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Nvidia is the star of my holdings
I have to admit I got incredibly lucky buying this
I retired and sold my house in 2020
I just happened to hear Cramer tout NVDA on CNBC
I bought in and am thrilled
Up1k%
Incredible, thanks Cramer
My next closest high performer is Oracle at 200% also bought in the summer of 2020

This may all crash due to Trumps really wacko idea. Cut all taxes to 0 and make it up with tarriffs
WTF
I voted for Harris because I want the Obama/Biden gravy train to continue to March forward

https://theweek.com/politics/trump-tax-cuts-tariffs
Donald Trump wants to cut taxes and pay for them with tariffs
The GOP nominee plans to offset additional tax cuts with massive new levies on imported goods

Bottom line, Trump wants a record defecit. Republicans will oblige because they just pretend to care about the deficit when a Dem is President.

Kamala practicing for her big speech tonight:



Apparently they had to edit out the section where she was gonna bash Puerto Ricans for 10 minutes.