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Squawk Pod

Capital Gains Pains & Hollywood Oscars Economics

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 23 April 2021

⏱️ 30 minutes

🧾️ Download transcript

Summary

President Joe Biden is expected to propose doubling the tax rate wealthy Americans pay on investment returns when they sell stocks and other assets. CNBC’s Ylan Mui reports on the possible hike in capital gains taxes that sent a shockwave through Wall Street. Rep. Josh Gottheimer (D-NJ) and Rep. Nicole Malliotakis (R-NY) also discuss Biden’s new proposal as well as the lawmakers’ recently formed bipartisan SALT caucus. The Oscars will air on Sunday and many are anticipating a lower interest in the award show this year. Despite that, advertising costs have continued to rise; Ed Lee, corporate media reporter for The New York Times, and Sara Fischer, Axios media reporter, discuss the Hollywood economics behind award season. Plus, get your questions ready, it’s time to #AskWarren! Ahead of the Berkshire Hathaway Annual Shareholders Meeting, CNBC is collecting your questions for Warren Buffett, the Oracle of Omaha, at berkshirequestions@cnbc.com. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

This is Squawk Pod. I'm CNPC producer Cameron Koste. Today on our

0:06.8

podcast, the most important tax rate for investors shooting up to the highest

0:12.4

in American history and in the world

0:14.5

CNBC's wealth reporter Robert Frank on the proposed capital gains hike

0:18.8

that spooked the markets. We will get a rush to the exits for stocks, for assets, for small businesses, for anyone

0:26.6

that has an asset that is appreciated and valued.

0:29.4

And input on the hike's impact from Republican and Democrat lawmakers,

0:33.4

Representatives Nicole Malayatakis and Josh Godheimer.

0:37.1

I am concerned also about the tax increases,

0:39.6

which certainly stying the investment at a time where we need private sector investment.

0:44.0

We all agree that double taxation is wrong, that our states have gotten whacked.

0:48.0

Is the Oscar Buzz quieter than usual?

0:51.0

Media journalists Ed Lee from the New York Times and Sarah Fisher for Maxios.

0:55.8

The Oscar Telecast, you're right, it's not just a pandemic thing.

0:58.4

For years the audience has been declining, I think it peaked in the late 90s at like 60 million viewers. Die Hard, even the Linwen

1:04.9

Well Miranda film that's supposed to come out got pushed. When you push the theaters out of the

1:09.3

ward season, what you're left with is a bunch of dramas. Those stories and what do you're left with is a bunch of dramas?

1:13.0

Those stories end what do you want to ask Warren Buffett?

1:17.0

Inflation may be, or ESG investing?

1:20.0

Or how about crypto?

1:21.0

Warren called it Rap Poison Square.

1:23.3

Now that was a few years ago.

...

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