Seems important that you left out Trump’s statements that he thinks he (as president) should be in charge of fiscal policy, eliminating independence of the Fed. I’m sure that would have a really stabilizing effect on financial markets and inflation based on how well it worked in the 70s under Nixon/Burns.
I appreciate this analysis of their respective proposals, not so much to judge the candidates, but to understand a bit more about the economy. Thank you.
$25k for first time homebuyers is a scary proposal and very dangerous; it will increase demand and it will increase prices which means it will do nothing for the people she says she’s helping.
@@PianoUniverse No, I'm not. Don't assume that just because I don't support Harris' policies that I automatically support Trump's. I'm not voting for either (and I didn't last time either).
I'm as lefty as they come, and I'd still vote for the reanimated corpse of Ronald Reagan over Trump for about a thousand reasons, with my personal short-term economic success being pretty far down the list.
Could there actually be a presidency where you would say to change retirenment plans? And with your last segment on stock market returns: Does it make sense to "market time" (in quotes as it may be called differently in this case) to manage risk for retirement?
Interesting. Good attempt at trying to predict what will happen based on who gets elected. I agree with you that overall the effects on average will be similar whoever holds office. Individually though, it could make a bigger difference (e.g., a rich person vs. middle class).
My issue with crypto is not a financial one, its a moral decision for me. Crypto mining takes an enormous amount of power to compute, contributing to an already dire state of climate change. Its also is a the favored currency of dictators, oligarchs, cartels as well as money launderers in general as it is hard to trace and regulation is far behind the technology curve. Bottom line: I don't like supporting systems that help the bad guys. I recognize that everyone has to make their investing decisions based on their own set of ethics though.
I understand it’s easy to regurgitate some 10 second sound clips but I’d recommend you research crypto a bit more before making many of your comments. Mining bitcoin uses far less electricity than many of the activities you probably do every day, like using a clothes dryer. Also many cryptos are proof of stake which uses basically no electricity. Plus many miners use their own renewable sources and/or the excess produced that would be produced and not used. Yes some criminals use crypto but not as much as they use usd. With crypto there is a permanent record of all transactions that has actually help law enforcement capture the criminal. So a dollar is preferred by criminals if it can be arranged. These criminal acts existed long before crypto. Of course you’re entitled to your opinion but try and educate yourself first so you can make valid points.
The level of inefficiency and corruption in this administration is becoming absurd. Those who are disabled and do not receive the support to which they are legally entitled make me sad. I sincerely thank you, June Renae Matthysse. Imagine making $6k in 20 days with an investment of $1.5k
That woman transformed my entire life for the better. Among the folks I've met, June appears to be the most trustworthy. I'm surprised you know her as well
Her stated tax policy is that no one making less that $400K a year will see their taxes increase. When you talk about tax cuts its important to distinguish between tax cuts for the 1% and everyone else. IMO one should ALWAYS be wary of anyone that refers to these in a blanket format wo distinguishing between the two.
@@markepstein9301 She isn't going to raise taxes on anyone making under $400K. If you make more than $400K your taxes may go up. the Biden/Harris administration also put in place enhanced marketplace premium tax credits for Obamacare/ACA meaning that nearly everyones healthcare premiums are limited to a maximum of of 8.5% of your income (even less if you fall under certain wage thresholds). This is especially improtant for pre-65 retirees or anyone who needs to use the ACA for coverage. Lastly she would remove medical debt from your credit scoring.
@NiecyNelson Nobody here seems to understand economics 101. She's proposing large tax increases on businesses. The result of that is always to pass those increases on to consumers, or downstream on supply chain, or to reduce employee salaries and=or number of employees. Which means she's ultimately taxing *you*, albeit indirectly. How supposedly smart retired people cannot grasp this basic truth about economics eludes me. But that inability to grasp is exactly why she proposes more(indirect) taxes on businesses. She thinks you're stupid or ignorant. Prove her wrong, folks.
I think at some point the Roth will be taxed but likely a decade or more away. All these things are not guaranteed, the gov can change it any time. Gold was not allowed to be owned in the US for 4 decades via a simple executive order, and like China the gov. Could easily ban some kinds of crypto use or mining and this could happen at any time especially if there is a situation where emergency powers are authorized. That said, I don’t like total doom and gloom scenarios and we have to plan on what is likely with the resources we have. I did up my retirement planning to include an inflation rate of 4% since higher inflation in the next couple decades seems likely due to high deficit spending. The impact of inflation on your retirement plan can be quite significant, just changing your assumption from 3 to 4 percent inflation is big so this perhaps is the one of the big risks facing our nation in the future without any political or even taxpayer will to solve. Anything not COLA or inflation adjusted like annuities, bonds or pensions etc will do poorly in an inflationary environment. The stock market and real estate seem to hold up ok assuming other factors don’t affect them. Once again, don’t get sucked into doom and gloom even though you need to sometimes consider worse case scenarios, always strive to be generous and happy.
You should have done some tax returns yourself instead of taking your information from a think tank, I did and I would save more than 3.5% of spendable dollars or more than $3500. Sounds a lot like a nice weeks vacation every year for the rest of my life! And FICA withholding is post tax much like a roth. I was self employed so paid both halves and using a compound interest calculator I would have retired with more than $750k which using the 4% rule would pay $30k/year plus inflation, and probably leave money for heirs. My SS benefit is $29k/year plus inflation. The least we can do is quit taxing it! As for taxes being your largest expense in retirement, if we exempt SS from taxation and use QCD the most I would ever pay is $5000/year, or less than I pay for Medicare parts b&d and a supplement. Before you post a video, do the math.
I like his videos, but I had the same concerns. BTW, I am an accountant and an economist so I understand the level of complexity from a completely different standpoint. My thoughts concur with yours.
So does Trumps. I think they both are bad options and we need to pat closer attention to all the congressional and local policy makers we vote for who feed the presidential pool.
Any change to the tax code must be made by Congress. The policy proposals are not relevant because a divided Congress is probably not going to pass changes. If the republicans win both chambers then all bets are off.
Imagine not understanding that Congress, not the President, draft and approve tax legislation. Unless someone decides they are a dictator.
Seems important that you left out Trump’s statements that he thinks he (as president) should be in charge of fiscal policy, eliminating independence of the Fed. I’m sure that would have a really stabilizing effect on financial markets and inflation based on how well it worked in the 70s under Nixon/Burns.
For some reason I always do well during democratic administrations compared to GOP.
I appreciate this analysis of their respective proposals, not so much to judge the candidates, but to understand a bit more about the economy. Thank you.
Provide there is still a democratic government
Exactly! 🙏🏻
No - the USA is a true constitutional representative republic … that is what we have … now. That is what is under threat.
$25k for first time homebuyers is a scary proposal and very dangerous; it will increase demand and it will increase prices which means it will do nothing for the people she says she’s helping.
Yeah - and I don't want to pay for other people's downpayment.
Buying votes. Smart people know it is campaign talk.
@@JohnMcGlothlin-l7j You are good for billionaires making millions on tax cuts though. Got it.
@@PianoUniverse No, I'm not. Don't assume that just because I don't support Harris' policies that I automatically support Trump's. I'm not voting for either (and I didn't last time either).
They would do more good for homebuyers if they put limits or bans on large VCs from buying up entire inventories of single family homes in areas.
Truth Freedom Democracy
Never trump Again
Retirement is irrelevant. Who's better for my country and its constitution?
Pre-TCJA we had exemptions, I think they should be considered together with the change to standard deduction
I'm as lefty as they come, and I'd still vote for the reanimated corpse of Ronald Reagan over Trump for about a thousand reasons, with my personal short-term economic success being pretty far down the list.
Could there actually be a presidency where you would say to change retirenment plans?
And with your last segment on stock market returns: Does it make sense to "market time" (in quotes as it may be called differently in this case) to manage risk for retirement?
Interesting. Good attempt at trying to predict what will happen based on who gets elected. I agree with you that overall the effects on average will be similar whoever holds office. Individually though, it could make a bigger difference (e.g., a rich person vs. middle class).
My issue with crypto is not a financial one, its a moral decision for me. Crypto mining takes an enormous amount of power to compute, contributing to an already dire state of climate change. Its also is a the favored currency of dictators, oligarchs, cartels as well as money launderers in general as it is hard to trace and regulation is far behind the technology curve. Bottom line: I don't like supporting systems that help the bad guys. I recognize that everyone has to make their investing decisions based on their own set of ethics though.
I see you’ve put in tens of minutes of research into btc.
@@tubes9181 ...which is evidently nine more than you've spent.....
@@tubes9181 not a nice reply. How do you know?
Wrong video.
I understand it’s easy to regurgitate some 10 second sound clips but I’d recommend you research crypto a bit more before making many of your comments. Mining bitcoin uses far less electricity than many of the activities you probably do every day, like using a clothes dryer. Also many cryptos are proof of stake which uses basically no electricity. Plus many miners use their own renewable sources and/or the excess produced that would be produced and not used. Yes some criminals use crypto but not as much as they use usd. With crypto there is a permanent record of all transactions that has actually help law enforcement capture the criminal. So a dollar is preferred by criminals if it can be arranged. These criminal acts existed long before crypto. Of course you’re entitled to your opinion but try and educate yourself first so you can make valid points.
Neither is better, unless you plan on completely spending all of your money in the next four years.
The level of inefficiency and corruption in this administration is becoming absurd. Those who are disabled and do not receive the support to which they are legally entitled make me sad. I sincerely thank you, June Renae Matthysse. Imagine making $6k in 20 days with an investment of $1.5k
That woman transformed my entire life for the better. Among the folks I've met, June appears to be the most trustworthy. I'm surprised you know her as well
I've seen different people talking about this June, she must be very amazing for people to talk this good about her
What about when/if Harris lets the Trump tax cuts expire?
Her stated tax policy is that no one making less that $400K a year will see their taxes increase. When you talk about tax cuts its important to distinguish between tax cuts for the 1% and everyone else. IMO one should ALWAYS be wary of anyone that refers to these in a blanket format wo distinguishing between the two.
So you are saying she is or isn’t going to let the Trump tax cuts expire?
@@markepstein9301 She isn't going to raise taxes on anyone making under $400K. If you make more than $400K your taxes may go up. the Biden/Harris administration also put in place enhanced marketplace premium tax credits for Obamacare/ACA meaning that nearly everyones healthcare premiums are limited to a maximum of of 8.5% of your income (even less if you fall under certain wage thresholds). This is especially improtant for pre-65 retirees or anyone who needs to use the ACA for coverage. Lastly she would remove medical debt from your credit scoring.
@@NiecyNelson so is that a yes or no on if she will be allowing the Trump tax cuts to expire? It’s a simple question, why won’t you answer it?
@NiecyNelson Nobody here seems to understand economics 101. She's proposing large tax increases on businesses. The result of that is always to pass those increases on to consumers, or downstream on supply chain, or to reduce employee salaries and=or number of employees.
Which means she's ultimately taxing *you*, albeit indirectly.
How supposedly smart retired people cannot grasp this basic truth about economics eludes me. But that inability to grasp is exactly why she proposes more(indirect) taxes on businesses. She thinks you're stupid or ignorant.
Prove her wrong, folks.
If is a small amount, how does it help solvency? Its a tax on a tax. Whats next taxing a Roth?
I think at some point the Roth will be taxed but likely a decade or more away. All these things are not guaranteed, the gov can change it any time. Gold was not allowed to be owned in the US for 4 decades via a simple executive order, and like China the gov. Could easily ban some kinds of crypto use or mining and this could happen at any time especially if there is a situation where emergency powers are authorized.
That said, I don’t like total doom and gloom scenarios and we have to plan on what is likely with the resources we have. I did up my retirement planning to include an inflation rate of 4% since higher inflation in the next couple decades seems likely due to high deficit spending.
The impact of inflation on your retirement plan can be quite significant, just changing your assumption from 3 to 4 percent inflation is big so this perhaps is the one of the big risks facing our nation in the future without any political or even taxpayer will to solve.
Anything not COLA or inflation adjusted like annuities, bonds or pensions etc will do poorly in an inflationary environment. The stock market and real estate seem to hold up ok assuming other factors don’t affect them.
Once again, don’t get sucked into doom and gloom even though you need to sometimes consider worse case scenarios, always strive to be generous and happy.
Ab 150. Trump 10k cap on state tax deduction
Risky topic. I hope all the political opinions stay out of the comments.
Great one..thank you..go go. Trump😂
You should have done some tax returns yourself instead of taking your information from a think tank, I did and I would save more than 3.5% of spendable dollars or more than $3500. Sounds a lot like a nice weeks vacation every year for the rest of my life! And FICA withholding is post tax much like a roth. I was self employed so paid both halves and using a compound interest calculator I would have retired with more than $750k which using the 4% rule would pay $30k/year plus inflation, and probably leave money for heirs. My SS benefit is $29k/year plus inflation. The least we can do is quit taxing it!
As for taxes being your largest expense in retirement, if we exempt SS from taxation and use QCD the most I would ever pay is $5000/year, or less than I pay for Medicare parts b&d and a supplement.
Before you post a video, do the math.
I like his videos, but I had the same concerns. BTW, I am an accountant and an economist so I understand the level of complexity from a completely different standpoint. My thoughts concur with yours.
Probably should have mentioned the pandemic that, although increased the deficit and inflation during the Biden-Harris term, was an anomaly.
I would say the Kamala Harris/Joe Biden Inflation Creation Act made inflation a lot worse and more imbedded.
And its dropping.
Like I’d believe anything Trump promised….
Harris "policy propsals" change with the wind.
Yeah, no they don't.
So does Trumps. I think they both are bad options and we need to pat closer attention to all the congressional and local policy makers we vote for who feed the presidential pool.
Any change to the tax code must be made by Congress. The policy proposals are not relevant because a divided Congress is probably not going to pass changes. If the republicans win both chambers then all bets are off.
Naw, they do. She changes with the polls
@@greauxpeteHe literally stands for nothing, only what he thinks will help him win.