SOME HUGE NUMBERS. Look up wealth, how it differs from income. Think I saw at Yahoo Finance or CNN, not sure which, a decline of maybe $7 trillion in US stock prices, then a reversal back up, in mere weeks. That's wealth changing in value. It's not the same as annual salaries and wages, but is accumulated untaxed income. Compare that $7T to deficit totals for this budget.
That SEVEN TRILLION FLUX was in MERE WEEKS. Why so huge? The US stock market dropped on the tariff news, plus European and other investors believe that our top tech stocks are over-valued,. The sharp drop began end of Feb. Bottoming around April 7, stock prices then rose back up, fast, through end of June, after the Pres. visit to the Middle East (Saudi deals). (The market went back up, BUT.... The dollar did not, so Europe likely is still staying away from their prior big cap favorites . VoronoiApp.com tracks total value of S&P 500, at $42 Trillion on Jan 9 of 2024, to 54.9 trillion on June 27,aris sf about 17 trillion. The database called FRED at the St Louis Federal Reserve has a chart and much more below the chart, at: Fred.StLouisFed.org/series/SP500)
It was a wealth flux, not an income flux. (No big change down in annual salary, then up. Think of billionaires holding their shares, watching stock prices go up and down. Think of some not using their much smaller salaries when they want cash to buy bigger mansions, another luxury yacht, more resort condos with live-in maid service. It's said holders of generous share grants have been raising UNTAXED CASH on their new shares. How? If they take out loans, shares as collateral,, not only is cash raised, but the loan interest then is tax deductible, from their taxable annual salary income.)
Compare sizes. Stock flux VS Senate's deficit for budget bill passed yesterday.
SEVEN TRILLION stock flux vs. THREE TRILLION, rough size, budget deficit, to be added long-term.
(The deficit is typically summed over ten years forward, to make it look bigger. )
SIDE NOTE- There's huge and unnecessary military add-on that the House can cut.
We want to avoid tossing our grannies out of nursing homes, noted by poster Teresa McCarthy as Medicare/Medicaid financed. Not yet discussed, it's as bad as rural hospitals disappearing.
SOME HUGE NUMBERS. Look up wealth, how it differs from income. Think I saw at Yahoo Finance or CNN, not sure which, a decline of maybe $7 trillion in US stock prices, then a reversal back up, in mere weeks. That's wealth changing in value. It's not the same as annual salaries and wages, but is accumulated untaxed income. Compare that $7T to deficit totals for this budget.
That SEVEN TRILLION FLUX was in MERE WEEKS. Why so huge? The US stock market dropped on the tariff news, plus European and other investors believe that our top tech stocks are over-valued,. The sharp drop began end of Feb. Bottoming around April 7, stock prices then rose back up, fast, through end of June, after the Pres. visit to the Middle East (Saudi deals). (The market went back up, BUT.... The dollar did not, so Europe likely is still staying away from their prior big cap favorites . VoronoiApp.com tracks total value of S&P 500, at $42 Trillion on Jan 9 of 2024, to 54.9 trillion on June 27,aris sf about 17 trillion. The database called FRED at the St Louis Federal Reserve has a chart and much more below the chart, at: Fred.StLouisFed.org/series/SP500)
It was a wealth flux, not an income flux. (No big change down in annual salary, then up. Think of billionaires holding their shares, watching stock prices go up and down. Think of some not using their much smaller salaries when they want cash to buy bigger mansions, another luxury yacht, more resort condos with live-in maid service. It's said holders of generous share grants have been raising UNTAXED CASH on their new shares. How? If they take out loans, shares as collateral,, not only is cash raised, but the loan interest then is tax deductible, from their taxable annual salary income.)
Compare sizes. Stock flux VS Senate's deficit for budget bill passed yesterday.
SEVEN TRILLION stock flux vs. THREE TRILLION, rough size, budget deficit, to be added long-term.
(The deficit is typically summed over ten years forward, to make it look bigger. )
SIDE NOTE- There's huge and unnecessary military add-on that the House can cut.
We want to avoid tossing our grannies out of nursing homes, noted by poster Teresa McCarthy as Medicare/Medicaid financed. Not yet discussed, it's as bad as rural hospitals disappearing.