Wall Street Quietly Begins Warning About A Biden Presidency

[IroNat]

https://www.forbes.com/sites/sergeiklebnikov/2020/06/27/wall-street-quietly-begins-warning-about-a-biden-presidency/amp/or

Some finance executives and analysts are warning that if the Democrats sweep the White House and the Senate in November, increased regulation and higher taxes would be bad for businesses and could negatively impact the stock market.

[Humble Narcissist]

This country is going to shit fast if Biden wins.

[jude2]

Of course that is true.  That's why we can't let Biden get elected.

[Primemuscle]

With all the money that is being spent to bail out businesses and send most of the population stimulus checks, no matter who is president or who is in congress expect there to be huge income tax increases.

[IroNat]

[/quote]

With all the money that is being spent to bail out businesses and send most of the population stimulus checks, no matter who is president or who is in congress expect there to be huge income tax increases.

No, the Repubs have to sign the "no tax increase" pledge.

However, they do not sign a "no increased spending" pledge.  The result is higher deficits.

With the Dems you get both tax increases AND spending increases.

[Primemuscle]

No, the Repubs have to sign the "no tax increase" pledge.

However, they do not sign a "no increased spending" pledge.  The result is higher deficits.

With the Dems you get both tax increases AND spending increases.

The U.S. federal shortfall for fiscal year 2020 is estimated to be $1.103 trillion. All deficits have the effect of reducing the potential capital stock in the economy. Borrowing money today necessitates higher taxes in the future, which unfairly punishes future generations of taxpayers. If interest payments on the debt ever become untenable through normal tax-and-borrow revenue streams, the government faces three options. One is that the government can print money to cover the shortfall which ultimately leads to high levels of inflation or the country can also default on loan obligations and lastly, which seems to be the least popular solution to many people is that government can cut spending and sell assets in order to make payments.

[Irongrip400]

Dems passed the infrastructure bill. Hopefully it passes in the senate and is enacted. It won’t matter at that point, people will be working and we’ll spend our way through the recession.