stock market was up today...

[BowlBrother85]

You heard what you WANTED to hear.

No... I was parodying an earlier post of yours.

The fact is that the market had a favorable response to the passage of the coronavirus relief package. And it's clear from the many times Trump talked about it, that he was expecting the market to crash in response to Biden winning the election. Just the opposite has been true.

 

[BowlBrother85]

Buddy, I've typed cheif a million times in this forum. Take your sophomoric ******** elsewhere. Invest in bonds too.

Good point. LOL.

 

[RikidyBones]

No... I was parodying an earlier post of yours.

The fact is that the market had a favorable response to the passage of the coronavirus relief package. And it's clear from the many times Trump talked about it, that he was expecting the market to crash in response to Biden winning the election. Just the opposite has been true.

Then invest in bonds.

 

[RikidyBones]

Good point. LOL.

Nice edit. Clown

 

[BowlBrother85]

Then invest in bonds.

I would consider any and all suggestions... if I had any disposable income to invest. My daughter's taste in clothes has eliminated that.

 

[BowlBrother85]

Nice edit. Clown

Lighten up. I'm drunk.

 

[Vol737]

What the hell are you talking about?

President Joe Biden signed a $1.9 trillion coronavirus relief package into law on Thursday March 11, 2021. This plan sent direct payments of up to $1,400, extended a $300 per week unemployment insurance supplement, expanded the child tax credit and put $20 billion into COVID-19 vaccinations, $25 billion into rental and utility assistance, and $350 billion into state, local and tribal relief. Democrats passed the legislation on their own in Congress, without a Republican vote through the budget reconciliation process. That seems pretty darn significant to me.

Damn, some strange stuff gets posted here.

I was referring to tax or economic policy. Wrt the Covid relief package....an instant almost $2T added to the debt that coulda, shoulda, woulda been avoided if not for the completely stupid lockdowns. That’s great. We will look back on this and see how much of this nonsense was completely unnecessary. Let’s not applaud the those that created the bulk of this problem for their solution.

 

[Vol737]

Lighten up. I'm drunk.

And you didn’t invite me? Too bad. I’ll have to share my Weller 12 with @Hunerwadel.

 

[BowlBrother85]

I was referring to tax or economic policy. Wrt the Covid relief package....an instant almost $2T added to the debt that coulda, shoulda, woulda been avoided if not for the completely stupid lockdowns. That’s great. We will look back on this and see how much of this nonsense was completely unnecessary. Let’s not applaud the those that created the bulk of this problem for their solution.

The COVID-19 relief package obviously included substantial fiscal stimulus.

 

[Rasputin_Vol]

No one at this point can argue with me that we don't have galloping inflation in this country. A large portion of the money that has been printed up is not on Main St raising the prices on coffee, milk and bread... its on Wall St pushing up Tesla, Apple and other stocks as they reach all time highs.

Now inflation is on Main Street.

 

[Ernest T. Vol]

 

[Rasputin_Vol]

For melinda, 26 years and cash out with roughly $50-70 billion? Yeah, good job.

 

[Rasputin_Vol]

 

[Thunder Good-Oil]

I think I’ll pay the extra 10-20% for the fresh batteries and unexpired meds next year.

 

[Hunerwadel]

And you didn’t invite me? Too bad. I’ll have to share my Weller 12 with @Hunerwadel.

I would love to partake in your bottle of Weller Vol737. I don't hang out here much but I do check in now and then to make sure you guys don't get out of line too bad. Hope everyone is well.

 

[Vol737]

I would love to partake in your bottle of Weller Vol737. I don't hang out here much but I do check in now and then to make sure you guys don't get out of line too bad. Hope everyone is well.

It’s always out of line. That’s what we do!

 

[MOOOOONEY]

Anyone holding AMD? It’s on a nice run with the announcement of the 4 billion dollar stock buy back plans.

 

[SpaceCoastVol]

Anyone holding AMD? It’s on a nice run with the announcement of the 4 billion dollar stock buy back plans.

I have some shares... and sold some June 4 $75 puts for $1.

 

[Velo Vol]

Anyone holding AMD? It’s on a nice run with the announcement of the 4 billion dollar stock buy back plans.

Oh?

 

[BigOrangeMojo]

Oh?

View attachment 369471

When @MOOOOONEY posted this, AMD went from upper 72s Wednesday AM before this buyback annoucement to closing low 78s yesterday.

 

[Thunder Good-Oil]

AMD is now $80. An almost $100 million market cap. Up 7%+ in a month (QQQ up 5%, DJIA down nearly 1%).

 

[BreatheUT]

I received a letter today for more government vote buying handouts.

The American Rescue Plan expanded child tax credit. More tricky pork. I did some digging.

The advance payments and increased amount are currently set to end at the end of 2021. Unless a new law is passed, the tax credit will revert back to $2,000 per child, with no advance payment option.

Basically another welfare program the dem's will pass off as racists when it's eliminated and you have to wing people off that want government stipends.

How do I claim the advance child tax credit on my taxes?
To balance this out on your taxes, you will need to claim and keep track of the advance payments you receive in 2021. Then you will report the amount and reconcile it with the amount you are eligible to receive on your tax return.
"The amount that you get needs to be input into your tax return," Jamison said. "So the amount of an advanced payment that you receive ... you'd want to make sure that you're indicating that when you file that return."

Now this one might bite some people. Basically the default is they are sending payments to people if you have an eligible child. If you accept it, and many will not looking at the fine print, and your child doesn't go to childcare then you will owe the government. They are creating tax issues for people unless you opt out.

So many more fine print details.

 

[utvolpj]

I received a letter today for more government vote buying handouts.

The American Rescue Plan expanded child tax credit. More tricky pork. I did some digging.

The advance payments and increased amount are currently set to end at the end of 2021. Unless a new law is passed, the tax credit will revert back to $2,000 per child, with no advance payment option.

Basically another welfare program the dem's will pass off as racists when it's eliminated and you have to wing people off that want government stipends.

How do I claim the advance child tax credit on my taxes?
To balance this out on your taxes, you will need to claim and keep track of the advance payments you receive in 2021. Then you will report the amount and reconcile it with the amount you are eligible to receive on your tax return.
"The amount that you get needs to be input into your tax return," Jamison said. "So the amount of an advanced payment that you receive ... you'd want to make sure that you're indicating that when you file that return."

Now this one might bite some people. Basically the default is they are sending payments to people if you have an eligible child. If you accept it, and many will not looking at the fine print, and your child doesn't go to childcare then you will owe the government. They are creating tax issues for people unless you opt out.

So many more fine print details.

Dependent care and child tax credit are not the same. I have seen nothing tying daycare to the advance credit money

 

[BreatheUT]

Dependent care and child tax credit are not the same. I have seen nothing tying daycare to the advance credit money

Got it. Got those mixed up. It's still an expansion.

 

[RikidyBones]

Got it. Got those mixed up. It's still an expansion.

My understanding is that it's the same as most get but an advance. So people will have a smaller tax return because it'll already be paid out. Which will be hilarious to watch.