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Government/Taxes lecture

eqjohnso

PARKED
Oct 27, 2007
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I attended a lecture today which went over the basis of what will happen between now and 09' depending on the election results. I found it very informative even though I have not been very involved with politics this year, but we went over four main topics:
  • How close are we to a recession and what the government will do about it
  • Taxes
  • The election
  • Geopolitics
Apparently, even though the chances are slim of the government saving the economy, they have two options.
  1. The Fed will have to do some "heavy lifting"
  2. The "stimulus package" (which is the hope that the election year will have a big impact on the economy.
Taxes will more than likely increase in 09' for a number of reasons.
  1. Trying to reduce the budget deficit
  2. pay for new plans for elected president
  3. Rich are not paying enough in taxes (kind of chuckled when I heard that)
  4. Bush tax cuts will be expiring soon
Taxes on capital gains now are around 15% and they will probably change to around 20%, as well as the dividends tax which is 15% will be around the 20% range too.

On the geopolitical topic, there was some talk about the US/China relations and so far it looks as though everything will be fine. But what really caught my attention was our Pakistanian worries. Apparently we discovered that they had 50 nuclear bombs? I don't know if this is old news, but it really caught my attention.

:eusa_naughty:
 

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Redshft

Contributor
Nov 5, 2007
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Greenville, NC
Federal Reserve Chairman Ben Bernanke spoke with Congress today pushing a quick implemented yet temporary stimulus package. Basically proposing that money in the hands of people that would spend it the quickest would slightly boost the economy.

Careful with this topic though as it heavily circulates around politics.
 

andviv

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Jul 27, 2007
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Thanks for your post. Yes, the tax and economic predictions are interesting. The geopolitical and political parts are not what we like to discuss here.

Who were the speakers/presenters for this lecture?

So, about the taxes, the prediction is that they capital gains will increase 5 points. That seems to be a consensus everywhere I look. Maybe it will make sense to get your capital gains this year while it still is 15% and 'save' that extra tax.

What were the main points about the Fed's 'heavy lifting' and the 'stimulus package'? I'd like to know more about that.
 
OP
OP
E

eqjohnso

PARKED
Oct 27, 2007
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Sorry about that .

I can not remember his name, but I ask the Economics Dept. if you want to know andviv.
The two points about how the economy could be saved, is where he did not go into very much detail, I am guessing because there is such a low chance of it actually happening. The election year in general is the "stimulus package".
 

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