Economic outlook

[Redpuma 146]

No matter what happens now, the economic situation will be shit for 2021 and no fiscal stimulus. 

Global recession 3.0?

[Voldemort86 2,259]

Dog shit.

 

mcconnell and other GOP senators will feel emboldened by the election results and clamp down on stimulus. They will only give it to businesses because they hate everyday ordinary Americans. 

[Enchubben 5,600]

Depends on timeline and scope of tax reform IMO.  From what I’m hearing, one of the first items on the tax reform agenda (outside of what’s published) will be the removal of IDC deductions. 

The increased corporate rate and GILTI increase will have the biggest effect but won’t be as bad if it’s not done until 2022. Hopefully Biden focuses on social agenda items first and by 2022 things return to the new normal as far as manufacturing and oil and gas demand to help offset tax changes.

[Wulaw Horn 19,594]

1 minute ago, Enchubben said:

Depends on timeline and scope of tax reform IMO.  From what I’m hearing, one of the first items on the tax reform agenda (outside of what’s published) will be the removal of IDC deductions. 

The increased corporate rate and GILTI increase will have the biggest effect but won’t be as bad if it’s not done until 2022. Hopefully Biden focuses on social agenda items first and by 2022 things return to the new normal as far as manufacturing and oil and gas demand to help offset tax changes.

Why would there be any tax reform at all?  You think there’s any way The Turtle is going to hike taxes in a Senate he owns? 
During a recession? Not. A. Chance.

[Enchubben 5,600]

10 minutes ago, Wulaw Horn said:

Why would there be any tax reform at all?  You think there’s any way The Turtle is going to hike taxes in a Senate he owns? 
During a recession? Not. A. Chance.

Runoffs, no? Even with republicans in control of the senate I still think there will be changes passed. 

[swraith 348]

Bwhahahah.  Senate (McConell) will not raise taxes.  Zero chance. 

 

The economy is going to need to survive on its own in 2021.

[gmr548 16,695]

Runoffs, no? Even with republicans in control of the senate I still think there will be changes passed. 

Welcome to America. I hope you like it here so far.

[Continental Op 3,934]

Wall Street won't suffer regardless of who wins.  2021 will probably suck balls for the average person though.

[gmr548 16,695]

50 minutes ago, Continental Op said:

Wall Street won't suffer regardless of who wins.  2021 will probably suck balls for the average person though.

Yep. The needed legislation will not get through McConnell. 

[Horn Under a Bad Sign 20,913]

I think Mitch is not going to live much longer.

[Voldemort86 2,259]

1 hour ago, Horn Under a Bad Sign said:

I think Mitch is not going to live much longer.

We could only hope