More indications that a recession is on the way. I priced business class tickets from the U.S. to Singapore (on a flight I took back in April), and the prices are down 50-60%. When international business travel slows down this dramatically, it is a good indication that companies are not doing so well, and wealthy people are pinching their pennies. Chemical product sales are also down, if it helps to get a second data point.
Trump is working on helping mansion owners to sell their houses without paying capital gains taxes, causing the federal debt to get bigger, while causing wealthy people to get wealthier. Maybe Trump will create massive amounts of inflation with his federal giveaways to the rich. Wouldn't that be fun for the middle and lower classes? https://www.marketwatch.com/story/h...capital-gains-taxes-for-home-sellers-7884bf19
In fairness, this one hits millions and millions of homeowners. I would bet that the number of people sitting on kore than a 250k gain in home price is in the tens of millions. Even middle class Florida homes have likely seen that in the last decade. And we shouldn’t be preaching the virtues of home ownership and then throwing an extra tax on them later for it. It will also help encourage home ownership in younger generations who can’t justify the cost. In the bigger picture, homeowners are 40 times wealthier than renters. And the government doesn’t even make that much on this anyway comparatively. Just because Trump is proposing it shouldn’t make it a bad thing reflexively, even a broken clock is right twice a day.
I can't believe it, but I do agree with a piece of legislation authored by Marjorie Taylor Greene. The value of homes are extremely inflated and they did not index the capital gains exemption with inflation. It also causes "lock in" since people will not sell to avoid the tax, causing inefficiencies in the housing market. I also understand the removal of the capital gains tax only applies to individuals and not corporations who own property. It actually seems like a good idea.
Yeah airfares are crazy low right now. I can get a round trip on Southwest from Texas to Florida for about $100. I normally pay $200-300 for it. Recession is coming. Trump's gonna have to fire more government statisticians.
More winning! Experts are now predicting the collapse of human civilization as a result of . . . well, Donald Trump. It was a nice few thousand years while it lasted, but its time for civilization to come to an end. I hope I can claim one of the nice caves. It's half past doomsday--do you know where your club and spear are? Expert Says a Specific Group of People Is Leading to the Collapse of Human Civilization
Regardless, it causes the federal deficit and federal debt to go up, which is one thing Trump said he was against. And it does help people with mansions more than it helps middle class homeowners.
