What the DJIA drop of nearly 2,000 points what will that mean to tax revenues in 2017 and beyond?

[healthmyths]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

 

[Toddsterpatriot]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

 

[The Rabbi]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

Theres also the drop in cap gains collections because there are fewer cap gains.

Over all the drop in the market presages another recession. The signs are there and we are due for one anyway. Without the Fed pumping trillions into the economy we never would have gotten out of the last one.

 

[Toddsterpatriot]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

Theres also the drop in cap gains collections because there are fewer cap gains.

Over all the drop in the market presages another recession. The signs are there and we are due for one anyway. Without the Fed pumping trillions into the economy we never would have gotten out of the last one.

Theres also the drop in cap gains collections because there are fewer cap gains.

Yup.

Over all the drop in the market presages another recession.

Not necessarily.

 

[Redfish]

flawed premise, the DOW is not going to drop 2000 points.

 

[The Rabbi]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

Theres also the drop in cap gains collections because there are fewer cap gains.

Over all the drop in the market presages another recession. The signs are there and we are due for one anyway. Without the Fed pumping trillions into the economy we never would have gotten out of the last one.

Theres also the drop in cap gains collections because there are fewer cap gains.

Yup.

Over all the drop in the market presages another recession.

Not necessarily.

The market is generally a leading indicator, unlike employment which is a lagging indicator. While its true market drops have not always predicted recessions (1987 comes to mind) it does happen often

 

[healthmyths]

flawed premise, the DOW is not going to drop 2000 points.

It has dropped already from from 18,000 to 16,000 since May 2015.

 

[healthmyths]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year. Ten Important Facts About Capital Gains and Losses

You can only carried forward any loss over $3,000, not carry over $3,000. For example, assuming you sold the gains in 2014:

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

Any excess capital loss can be carried over until you die, then it is lost and of no benefit to your estate or heirs.
Capital losses carry forward ? - TurboTax Support

 

[Toddsterpatriot]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year. Ten Important Facts About Capital Gains and Losses

You can only carried forward any loss over $3,000, not carry over $3,000. For example, assuming you sold the gains in 2014:

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

Any excess capital loss can be carried over until you die, then it is lost and of no benefit to your estate or heirs.
Capital losses carry forward ? - TurboTax Support

Yeah, like I said,

Only $3000 per year, against ordinary income. So what?

 

[healthmyths]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year. Ten Important Facts About Capital Gains and Losses

You can only carried forward any loss over $3,000, not carry over $3,000. For example, assuming you sold the gains in 2014:

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

Any excess capital loss can be carried over until you die, then it is lost and of no benefit to your estate or heirs.
Capital losses carry forward ? - TurboTax Support

Yeah, like I said,

Only $3000 per year, against ordinary income. So what?

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

 

[Toddsterpatriot]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

Only $3000 per year, against ordinary income. So what?

If your total net capital loss is more than the yearly limit on capital loss deductions, you can carry over the unused part to the next year and treat it as if you incurred it in that next year. Ten Important Facts About Capital Gains and Losses

You can only carried forward any loss over $3,000, not carry over $3,000. For example, assuming you sold the gains in 2014:

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

Any excess capital loss can be carried over until you die, then it is lost and of no benefit to your estate or heirs.
Capital losses carry forward ? - TurboTax Support

Yeah, like I said,

Only $3000 per year, against ordinary income. So what?

• You would claim your $20,000 losses in 2013. However, only $3,000 would be deductible.
• The remaining $17,000 in losses would carry forward to 2014. With $10,000 in 2014 gains and $17,000 in carry forward losses, you would have a net 2014 loss of $7,000. Of that, you would get the tax benefit of $3,000 and carry forward the excess $4,000 to 2015.

However, only $3,000 would be deductible.

Yeah, like I said.

Only $3000 per year, against ordinary income. So what?

 

[Redfish]

flawed premise, the DOW is not going to drop 2000 points.

It has dropped already from from 18,000 to 16,000 since May 2015.

yes, but its not going to 14,000. But if it does, I will be buying very heavily.

 

[Mac1958]

05/19/15 Close at 18,312.39, this is the historical DJIA closing high
01/07/16 16,543.51 Real-time: 2:02PM ES

See just Clinton did when he left office he had a nearly $5 trillion loss in market value due to the dot.com
bust. Guess what that meant? Lower tax revenues because theses losses were deducted from tax payments in the ensuing years.

This continuing decline in the DJIA WILL translate into losses taken by tax payers in 2017.
But with even a GOP president, this will mean LOWER tax revenue for years to come!

Well, that's the way stock profits & losses work.

The general consensus for 2016 from economists, just FYI, is a 5% to 10% gain. But who knows.
.

 

[g5000]

flawed premise, the DOW is not going to drop 2000 points.

It's dropped nearly 1,000 just this week.

 

[g5000]

Dropping oil prices will also affect revenues.

 

[CrusaderFrank]

Didja notice, the better Hillary does in the polls, the greater the market tanks?

 

[Redfish]

flawed premise, the DOW is not going to drop 2000 points.

It's dropped nearly 1,000 just this week.

OK, great. I think it will come back up and not drop to 14,000. But if I am wrong it will present a very good buying opportunity.

Just curious, why do you celebrate when the market goes down?

 

[Redfish]

Dropping oil prices will also affect revenues.

it will affect oil company revenues negatively and the revenues of every company that uses oil positively. Cheap energy is a good thing, I know you libs don't understand that, but its true.

 

[g5000]

flawed premise, the DOW is not going to drop 2000 points.

It's dropped nearly 1,000 just this week.

OK, great. I think it will come back up and not drop to 14,000. But if I am wrong it will present a very good buying opportunity.

Just curious, why do you celebrate when the market goes down?

What makes you think I am celebrating? I merely stated a fact of which you appeared unaware.

I'm not one of the piss drinking rubes who cheers all bad news as a chance to blame Obama for something else.

 

[g5000]

Dropping oil prices will also affect revenues.

it will affect oil company revenues negatively and the revenues of every company that uses oil positively. Cheap energy is a good thing, I know you libs don't understand that, but its true.

Lucky for me I am not a lib and also know more about economics than you.