Biden vs Trump 2020 - vote now and discuss!

The Juggler

Biden

I can't wait for this stupidity to end. 

gimmesometruth27

Biden

arizona just confirmed for biden. come on georgia. let's do this.

Spiritual_Chaos

I'm sitting this one out

https://twitter.com/KFILE/status/1326711941683941376?s=20

ikiT

Biden

In terminology he would not "get"...he needs to standthefuckdown.

mickeyrat

Biden

https://www.freep.com/story/news/politics/elections/2020/11/11/nessel-trump-lawsuits-black-people-corrupt/6251384002/

Gern Blansten

Biden

Here are a few recent situations I have encountered with some of my clients (I'm a CPA)

1. Guy panicked at the end of October....thought that Biden was going to win and market would tank.  He liquidated his investment account and generated $620K in taxable capital gains.  $220K in short term (ordinary income tax rate) and the rest long term.  

2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property.  He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over.  I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k.  Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?  

3. Lady is selling a rental property in early 2021 that will have a $20K capital gain.  She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property.  Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.

It's getting close to impossible to advise people in this fucking environment.

F Me In The Brain

Biden

Gern Blansten said:

Here are a few recent situations I have encountered with some of my clients (I'm a CPA)

1. Guy panicked at the end of October....thought that Biden was going to win and market would tank.  He liquidated his investment account and generated $620K in taxable capital gains.  $220K in short term (ordinary income tax rate) and the rest long term.  

2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property.  He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over.  I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k.  Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?  

3. Lady is selling a rental property in early 2021 that will have a $20K capital gain.  She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property.  Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.

It's getting close to impossible to advise people in this fucking environment.

Let them eat cake!

mrussel1

Biden

Gern Blansten said:

Here are a few recent situations I have encountered with some of my clients (I'm a CPA)

1. Guy panicked at the end of October....thought that Biden was going to win and market would tank.  He liquidated his investment account and generated $620K in taxable capital gains.  $220K in short term (ordinary income tax rate) and the rest long term.  

2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property.  He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over.  I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k.  Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?  

3. Lady is selling a rental property in early 2021 that will have a $20K capital gain.  She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property.  Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.

It's getting close to impossible to advise people in this fucking environment.

These are self fulfilling prophesies.  They believe Biden is bad,  so they make bad decisions which hurts them.  It's hilariously sad. 

Gern Blansten

Biden

mrussel1 said:

Gern Blansten said:

Here are a few recent situations I have encountered with some of my clients (I'm a CPA)

1. Guy panicked at the end of October....thought that Biden was going to win and market would tank.  He liquidated his investment account and generated $620K in taxable capital gains.  $220K in short term (ordinary income tax rate) and the rest long term.  

2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property.  He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over.  I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k.  Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?  

3. Lady is selling a rental property in early 2021 that will have a $20K capital gain.  She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property.  Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.

It's getting close to impossible to advise people in this fucking environment.

These are self fulfilling prophesies.  They believe Biden is bad,  so they make bad decisions which hurts them.  It's hilariously sad. 

agreed....it's like they think as soon as Biden steps into the Oval the tax rates adjust to what some meme on Facebook says

OnWis97

Biden

Gern Blansten said:

mrussel1 said:

Gern Blansten said:

Here are a few recent situations I have encountered with some of my clients (I'm a CPA)

1. Guy panicked at the end of October....thought that Biden was going to win and market would tank.  He liquidated his investment account and generated $620K in taxable capital gains.  $220K in short term (ordinary income tax rate) and the rest long term.  

2. Guy comes in yesterday and wants to liquidate his 401k balance of around $90K so that he can pay off the mortgage balance on his rental property.  He is convinced that his taxes are going up (he makes about $150K/year) and fears that he won't have a renter when Biden takes over.  I am trying to convince him that his mortgage rate of roughly 4% is really closer to 3% once the tax savings is accounted for and that he is likely making more than 5% rate of return in his 401k.  Why pay a 10% penalty (to be around $9K) and pay 30% tax (versus possibly 10% in retirement) on the 401k balance now?  

3. Lady is selling a rental property in early 2021 that will have a $20K capital gain.  She had previously asked if she should do a like kind exchange to avoid tax on the gain but told me at the time that she didn't really want another rental property.  Today she contacted me and said that she heard the capital gains rate is going up to 39% when Biden takes over so she wants to do the like kind exchange.

It's getting close to impossible to advise people in this fucking environment.

These are self fulfilling prophesies.  They believe Biden is bad,  so they make bad decisions which hurts them.  It's hilariously sad. 

agreed....it's like they think as soon as Biden steps into the Oval the tax rates adjust to what some meme on Facebook says

It's crazy.  America is going into the crapper because of...Joe Biden?  How does this jibe with their "47 years of not getting anything done." Worst case, it's the same stuff they survived from 2009 to 2017 (even better because it's a white guy!) Don't vote for him; don't agree with him; don't like him, but suggesting he's going to be the downfall of America is like suggesting continuing to play Even Flow is going to be the downfall of PJ shows. You might not be super pumped to hear Even Flow yet again. You might prefer to replace it with Fatal, but the show, while not optimal, will still be great.

Gern Blansten

Biden

https://twitter.com/kylegriffin1/status/1326887482311389186

ikiT

Biden

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

brianlux

Biden

ikiT said:

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

America, land of the stupid.  

Me, man without a country.

You?

Halifax2TheMax

brianlux said:

ikiT said:

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

America, land of the stupid.  

Me, man without a country.

You?

Immigrating. Away.

MayDay10

Biden

ikiT said:

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

It says the survey was fielded November 5th through 7th.  The race was called on the 7th.

Typical misleading trash from an evil source.

DewieCox

ikiT said:

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

Breitbart😂😂😂

I don’t think that poll has any basis in reality or they just polled Trump’s family. 

OnWis97

Biden

MayDay10 said:

ikiT said:

I don't know if you knew this....

Poll: Less than Half of America Believes Joe Biden Won the Election

https://www.breitbart.com/politics/2020/11/11/poll-less-than-half-of-america-believes-joe-biden-won-the-election/#

They still out there yo.

It says the survey was fielded November 5th through 7th.  The race was called on the 7th.

Typical misleading trash from an evil source.

Yeah, that's the key.  "Unsure" is a reasonable response for some of that time period. And, of course, most respondents are going to just say the candidate they prefer. But since it's been called, the numbers have shifted greatly towards Biden.

Kat

Biden

Election comment by someone in Congress ... (I'm biting my tongue.)

https://twitter.com/ProjectLincoln/status/1326961319384387585

mrussel1

Biden

So here's some of the first analysis on the voting.  There's quite a but and some of it seems contradictory.  But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians.  Biden cut into men a bit and ran up the score on women.  No real surprises.  Trump consolidated the R vote even more effectively than in 16.  Never Trumpers probably didn't help.  However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them.  There are some other interesting tidbits, including Biden's success with Catholics.  That's very important in states like PA and MI which are VERY Catholic heavy.  
There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish. 

https://www.washingtonpost.com/graphics/2020/elections/exit-polls-changes-2016-2020/?itid=hp-banner-main

Gern Blansten

Biden

mrussel1 said:

So here's some of the first analysis on the voting.  There's quite a but and some of it seems contradictory.  But in general, it looks like Trump made inroads with some minorities, especially Black men and Asians.  Biden cut into men a bit and ran up the score on women.  No real surprises.  Trump consolidated the R vote even more effectively than in 16.  Never Trumpers probably didn't help.  However, what stands out to me is that Biden won moderates and Indy's by 12 points, after Clinton lost them.  There are some other interesting tidbits, including Biden's success with Catholics.  That's very important in states like PA and MI which are VERY Catholic heavy.  
There's not much on how very conservative or very liberal voted, so it's hard to say where that played, but it appears the Biden strategy really worked, regarding tacking to the center from start to finish. 

https://www.washingtonpost.com/graphics/2020/elections/exit-polls-changes-2016-2020/?itid=hp-banner-main

The tRump campaign made a serious effort to lasso in black votes.  It's interesting that you mentioned Asians, etc. because I had seen videos from facebook groups called "Vietnamese for Trump", "Chinese Citizens for Trump"  Plus...lots of vides that were targeted at the African American community that appeared to just be straight up bullshit where a black person would be talking about how "I used to be a democrat but they never did anything for me and Trump has done so much for me" type of crap.

The tRump propaganda machine was well tuned.