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About bostonangler

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  1. Do you mean the car, or his ego??? Come on I'm only kidding... B/A
  2. Let's see. He went to a Nationals game they lost. He went to an Alabama game they lost. He goes to Daytona and it's canceled... I just hope he never shows up at our bowling league. LOL B/A
  3. White House considering tax incentive for more Americans to buy stocks, sources say 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 Money put into the account would be done so on an after-tax basis, and taxed when withdrawn as well; but any accumulation of profits during the investment timeframe, known as capital gains, would not be taxed.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.’” Awesome.... Put that tax cut in the casino market to keep it running.... Wouldn't it be better to just give it to the people to spend on trinkets? Consumer spending is 2/3's of our economy. Playing the roulette wheel of Wall Street will cost people their future. JMHO B/A
  4. Yup I agree, that is going to really shape where this thing will go. B/A
  5. That is so intelligent... No it's not. Yes it is. No it is not... Yes it is.... And so it goes..... B/A
  6. That makes so much sense then building a wall someone can climb over.. And let's start holding the companies hiring illegals accountable. They come here to work and we pay the price. Of course when corporations pay millions into campaigns you know they won't be held accountable for their illegal deeds. B/A
  7. They've had like a thousand people die out of more than a billion? I think they will find replacements. B/A
  8. No offense Indy, but medieval technology is simply a joke. and a waste to tax dollars... What's next a moat? B/A
  9. No I believe republicans and democrats have tried for high tech modern means and technology, not ancient technology that a goat herder can overcome. But I digress. Wake up... good one. The price of one B-1 Bomber could completely change the situation, or even better, instead of giving away corporate welfare so multinationals can buy back their stock and give huge bonuses to their over paid CEOs, that money could be spent on defending America. But of course our fearful leader just wants to build something to hang his name on... He has a lot of old signs laying around as new owners of his bankrupt properties take them down. B/A
  10. Smugglers are reportedly helping migrants scale sections of Donald Trump’s multi-billion border wall using $5 ladders. US Border Patrol has seen a rise in camouflage “hook-and-ladders” within the far south-west region of Texas since May last year, according to The El Paso Times. El Paso’s urban stretch of border is said to be littered with the ladders, which are engineered out of rebar and match the rust brown colours of the wall. “Somebody is making money off those ladders,” agent Joe Romero told the newspaper. “The agents pulled it off the wall and cut it up so it can’t be used again.” The redbar ladders began appearing in large numbers once construction of a replacement wall in El Paso was finished last May. According to Border Patrol, illegal crossings have increased ever since. “We’re starting to see a lot of evading activity,” said Agent Ramiro Cordero. “We’re starting to see the criminal organisations working hand-to-hand on either side to avoid detection. More and more we are seeing ‘failure to yields’ — they are utilising ladders to go over the fence and diversionary tactics.” Border Patrol apprehensions of single adults — those most likely to use the ladder method — have nearly doubled in the El Paso sector. From October 2019 through January 2020, Border Patrol apprehended 10,030 adults, compared with 5,150 in the same period a year ago. The ladders appear to be made by hand from two poles of 3/8-inch rebar and four thinner poles, fitted with steps and bent over at the end in a ‘U’ shape to hook on the top of the wall. The El Paso Times reports smugglers could be sourcing the rebar from a local hardware store in Ciudad Juarez, a Mexican city just south of El Paso, where six metres of the material costs roughly $5.30 (£4). To date, almost 100 miles of border have been built under the Trump administration, mostly to replace and improve existing barriers. Mr Trump’s campaign promised that Mexico would pay for the wall, but thus far the almost $10bn (£7.7bn) budget has come from taxpayer money. The president has proposed spending an additional $2bn for border wall construction. A total 450 miles of the barrier is expected to be completed by the end of this year. We've come a long way..... B/A
  11. Total U.S. household debt reached a record $14.15 trillion at the end of the year after increasing by $193 billion, or 1.4%, in the fourth quarter of 2019, according to the Fed’s Quarterly Report on Household Debt and Credit. The report, based on “a nationally representative sample of individual- and household-level debt and credit records drawn from anonymized Equifax credit data,” noted that total household debt is now nominally $1.5 trillion higher than the pre-recession peak of $12.68 trillion in the third quarter of 2008. U.S. household debt. (Source: FRBNY Consumer Credit Panel/Equifax) The rise in household debt, led by mortgage balances, marked the 22nd consecutive quarterly increase. Housing balances rose $120 billion from Q3 to December 31, 2019, ending the year at $9.56 trillion. Read more: How to manage debt Non-housing balances increased by $79 billion in the fourth quarter to hit a record $4.20 trillion. The Q4 increases included $16 billion in auto loans, $46 billion in credit card balances, and $10 billion in student loans. (Source: New York Fed) Wilbert Van Der Klaauw, senior vice president at the New York Fed, noted that the data showed that “transitions into delinquency among credit card borrowers have steadily risen since 2016, notably among younger borrowers.” And though student loans may have only seen a “muted” increase of $51 billion, borrowers are still struggling with their debt. In terms of the percentage of outstanding balances that are seriously delinquent or severely derogatory, student loans still lead the way. (Data, graphic: New York Fed) Progress on student debt varied across America in 2019 According to a separate analysis of metros across the U.S., student loan borrowers in Harrisburg, Pennsylvania, saw the biggest increase in their student loan balances over the course of 2019, while those in Winston-Salem, North Carolina, saw the biggest decline. The analysis by Student Loan Hero — which analyzed over 450,000 credit reports of consumers across the U.S. between Q1 and Q4 of 2019 to understand how student loan borrowers were making progress on student debt — illustrates that student loan borrowers aren’t one monolithic bloc and are making varying levels of progress on their debt. (Graphic: David Foster, Data: LendingTree) Overall, student loan borrowers in 59 metros saw their student loan balances increase, with four reporting double-digit increases. Borrowers in Harrisburg, Penn., saw their student loan balances increase the most by 11.9%, from $22,408 to $25,081, followed by borrowers in Des Moines, Iowa, who experienced a 11.3% increase in their balances from $21,894 to $24,374. The average borrower’s balance was $22,763 in the first quarter and increased by 2% — to $23,089 — by the end of the year. “Borrowing across the board has dropped dramatically,” Kali McFadden, a research manager at LendingTree, told Yahoo Finance. But “because of the [income-based] repayment programs or deferments … you could definitely see that your interest outpaces your monthly payments … [and] that is a big reason why some of these numbers went up.” According to data from the Department of Education from 2018, nearly 30% of borrowers were not in repayment — rather, they were in forbearance or deferment or delinquent or defaulting on their loans. And so while fewer people were taking out loans, the reality of interest rates outpacing payments led balances to rise. (Graphic: Student Loan Hero) Two metros saw double-digit decreases, according to the Student Loan Hero analysis. In contrast, borrowers in Winston-Salem, N.C., saw a 12.6% decline in their student loan balance, from $25,830 to $22,578, followed by borrowers in Springfield, Mass., who experienced a 10.5% decline from $19,419 to $17,382 . McFadden said that there may be a few reasons for the dramatic declines, ranging from demographic shifts, to people moving away. Winston-Salem, for one, is a college town, and graduates are quite likely to move away (or home) to find better opportunities. B/A
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