Tax Hike on 1031 Exchange = Good News for Stocks
Hello stock family, the rest of this week should be volatile as we head into Powell and Biden speaking today. One of my concerns has been if Biden cuts the tax breaks on capital gains for millionaires, they will shift thier money to Real Estate leaving a bearish market trail in its wake.
However, Bloomberg has reported that Biden is also expected to announce a tax hike on capital gains for the 1031 exchange on real estate. This would negate some fears that the 1% percent would primarily move their money to real estate. This makes me a little more bullish on stocks. Interesting read regardless. See link below.
*Let's not get political, we can all agree everyone just wants to make money at the end of the day.
https://www.bloomberg.com/news/articles/2021-04-28/1031-exchange-biden-pushes-to-end-real-estate-investment-tax-break
https://www.reddit.com/r/StockMarket/comments/n0iz1n/tax_hike_on_1031_exchange_good_news_for_stocks/
