FIFO on investments in new tax bill

[scagnt83]

Word is, they are likely changing investment taxation from LIFO to FIFO.

Good thing for annuity sales.... but bad for our economy. That will be a huge drag on the market moving forward imo. This combined with multiple rate increases and rocky political situation is a really bad combo. They are clueless, it's almost like they want the market to tank in the next two years.

 

[VolAgent]

You have to wonder if they actually read it if they are changing to FIFO.

 

[scagnt83]

You have to wonder if they actually read it if they are changing to FIFO.

Cochran already admitted that he didn't read it. Just a 2 page summary he claims.

But he changed to being a supporter just after they included holding companies in the pass-through changes. He makes around $7m a year from his real estate holding company. Claims he didn't know and "would need an accountant to know how it affects him".

First, a 20% deduction is simple to understand.

Second, if he doesn't know how these things affect companies, why the hell is he voting yes on the bill??

Those two statements do not line up together.

More of the same in Washington. We need to vote all of them out.

 

[Norwayguy]

Cochran already admitted that he didn't read it. Just a 2 page summary he claims.

But he changed to being a supporter just after they included holding companies in the pass-through changes. He makes around $7m a year from his real estate holding company. Claims he didn't know and "would need an accountant to know how it affects him".

First, a 20% deduction is simple to understand.

Second, if he doesn't know how these things affect companies, why the hell is he voting yes on the bill??

Those two statements do not line up together.

More of the same in Washington. We need to vote all of them out.

You expected things to change ?