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Valuetainment

Reaction To Biden’s Proposed Tax Hikes

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 27 April 2021

⏱️ 20 minutes

🧾️ Download transcript

Summary

Patrick Bet-David reacts to Biden's proposed tax plan and how this will influence the market.

Watch the full video on the Valuetainment YouTube channel: https://youtu.be/PBkrsTjkCOs

Transcript

Click on a timestamp to play from that location

0:00.0

Okay, so you see this drop off right here to go from here Dow Jones to all the way down here in one day

0:05.2

That's not a good thing. And that's what happened to the market yesterday after the media got a hold of a Biden's proposal on his tax

0:12.5

Plan and the market went nuts. They went crazy

0:15.7

Dow dropped a percent in a day

0:18.0

Even Bitcoin dropped, you know from 55 thou all the way down to 49 thou and you know

0:25.3

Even Bitcoin just a few days ago was at 65,000 dollars high 62,000 dollars. Now it's at a down of 49,000 dollars

0:32.2

But the market's been reacted what happened with this Biden tax plan, you know, New York Times right in our articles about it

0:39.0

Biden's this is Bloomberg Biden Iying tax rate as high as 43.4% in a next economic package market watch talking about how get ready

0:48.0

478 billion dollar selling ahead of the capital gains tax hike that's gonna happen this year

0:55.6

Bitcoin drops below 50,000 and then there's another story here by Reuters which

1:00.7

Fantastic story Biden to float historic tax increase on investment gains on the rich and we're gonna get a little bit into it

1:07.7

And and here's a reality about taxes. I'm gonna show you a video by the time we're done with is the following

1:12.9

There are three camps that are gonna be going through the tax hikes. Okay, number one is those who directly know

1:20.5

That they're gonna be affected by this right and we'll talk about those guys

1:23.6

Those who indirectly are aware that they're going to be affected by this and then there's a third camp, you know who this

1:30.5

Those who are not aware that they're indirectly going to be affected by this I'll address all those three camps here in a

1:37.6

Minerva. Let's read this article here on what they talk about with the tax plan

1:41.9

So President Joe Biden will roll out a tax plan on raise the tax on the wealthiest Americans including the largest ever increase in

1:48.5

Levy's on investment gains to fund about a trillion dollars in child care universal pre-kinder garden education and paid leave for

1:54.6

Workers sources familiar to the proposal said the plan is a part of a White House push to sweep an overhaul of UL tax system

2:02.6

To make the rich and big companies pay more and help put the bill for Biden's ambitious economic agenda the proposal calls

2:09.5

For increasing the top margin only come tax rate from to 39.6 from to 30 set from 37

...

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