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The Political Forum Discuss anything related to politics in this forum. World politics, US Politics, State and Local.

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Old 10-12-2020, 01:10 PM   #31
Why_Yes_I_Do
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Default This just in...

Quote:
Originally Posted by Tiny View Post
...I'd trust what people who actually have money on the line predict more than what you get from polls or pundits.

We all have actual money on the line in this contest. Given much thought on how best to position your IRA/401K lately? You should. There is a night vs day bet to make.
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Old 10-12-2020, 09:51 PM   #32
Tiny
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Originally Posted by Why_Yes_I_Do View Post
We all have actual money on the line in this contest. Given much thought on how best to position your IRA/401K lately? You should. There is a night vs day bet to make.
IRA/401K? No. I haven't got enough in it to make much of a difference, and I won't pay tax until I take money out.

I'm doing the opposite of what you're supposed to do, selling my winners and keeping my losers. I'd rather pay 23.8% tax on long term gains this year than potentially 43.4% on them next year if Democrats control the presidency and Congress. And I'm also giving away property that's worth a lot more than I paid to family now. Biden's plans to end stepped up basis at death and drop the lifetime gift and estate tax exemption, if implemented, won't just affect the rich.
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