Just wondering how people think their current financial situations will change with whoever becomes President? i don't know all that they are proposing in their election promises and I don't understand all your IRS/Roth accts etc...but just wondering if any of you will find it more financially difficult or better off under either one? just curious..don't care who voted for who...or who gets in but how it will affect people financially if at all.
trump vs Biden financial?
November 5th, 2020 at 12:53 am
November 7th, 2020 at 01:23 am 1604712208
I think our investments will do well. The stock market has historically performed better during Democratic administrations, though to be fair, it's mostly done well the past 4 years too.
Biden is also a supporter of social justice and equality. Hopefully he can make progress in those areas which ultimately pays off for all of us. Helping the less fortunate and fighting discrimination of all sorts is good for the nation overall.
I absolutely believe Biden will actually address the pandemic rather than ignoring it. That bodes well for the recovery of the economy as it's been the biggest drag by far.
November 7th, 2020 at 09:45 am 1604742353
Disneysteve I do have to disagree with you there I think Biden is racist and has been for a long time...both him and Harris have imprisoned more black people then trump ever has, I don't think he actually cares about equality at all...but only time will tell...but will be interesting to see what great plan he has for covid if he wins...and I hope the people follow it thats why it is spreading because people don't self isolate etc...so its on individuals
November 7th, 2020 at 02:05 pm 1604757956
November 7th, 2020 at 11:13 pm 1604790800
November 8th, 2020 at 02:31 pm 1604845871
November 8th, 2020 at 05:18 pm 1604855906
Same here. Trump's tax increase hit millions of Americans including us. I was hoping Biden would reverse that, but he probably won't be able to get the Senate to go along with that.
LuckyRobin - Thank you for your post as it lends an entirely different perspective to this. I'm curious about something. The oil industry has been greatly impacted by the pandemic. Prices/sales/profits are down due to demand drying up. Wouldn't Biden taking meaningful action on Covid be good for the industry at least in the near term? We as a nation (or as the world really) aren't giving up oil anytime soon though we are gradually moving toward more clean energy, as we should.
November 8th, 2020 at 11:40 pm 1604878850
I doubt Biden will do anything different about Covid than Trump was already doing. The safety equipment and respirators are already here. We have the ability and capacity to ramp up care when needed now, including calling in hospital ships. Vaccines are in the works and will continue to be in the works. Biologics are being used and new ones are being developed. They will come out at the same time they were always going to come out regardless of who is president and I doubt there will suddenly be anything new just because someone else is president. We might get harsher lockdowns, but a lot of people sure seem to be acting like Covid has already gone away.
November 9th, 2020 at 02:09 pm 1604930954
LuckyRobin and Disneysteve: As someone who supports clean energy, I found this respectful discussion on the oil and gas industry to be really interesting and informative.
November 9th, 2020 at 02:53 pm 1604933590
Systems are broken over there...our taxes still aren't done from april...we can't call and talk to anyone..we have no idea if they have them or not etc...and its hard from the other side of the world...but we still have to pay federal taxes there....and it can be frustrating...hoping the new changes he brings in doesn't change how much we have to pay etc...
November 9th, 2020 at 03:22 pm 1604935334
November 13th, 2020 at 07:07 pm 1605294423
I don't think biden is a racist and can Kamala being black be a racist? I ask seriously. I don't know.
Either way, LuckyRobin my question being uninformed about oil is will pushing clean energy be better long term for people's jobs? Can we replace oil jobs with solar, wind, or other types of green energy renewable jobs? Are there ways to retrain and do that sort of shift in from coal or oil? Is this a realistic avenue to invest in? I understand long term it is good for the environment but can we replace jobs in oil/coal with jobs elsewhere?
November 15th, 2020 at 08:24 am 1605428675
But you can't run trucking on anything but gas. Electric can't handle the type of power needed for hauling that much weight and the batteries for it do not exist. You might be able to refrigerate the trucks with solar, but that might be inconsistent which would be a problem with the safety of the food.
You also have the massive problem they never talk about of the pollution caused by manufacturing solar panels and wind turbines, which is worse to the planet than what oil and gas do now since they've really gotten good about limiting and cleaning that. Fix that problem, and it would be much more appealing to me.
My opinion is we just need a real hybrid system. People need to be able to heat their homes, transport themselves, and have their food transported without paying an arm and a leg. It should not be mandatory, but encouraged with tax benefits. Not punishing oil, but helping with credits. Building new infrastructure for a new electricity system and retrofitting the old will be massively expensive and take years and many people and businesses will not be able to afford it or will be ruined. This coming on top of how many people having their lives and businesses destroyed by Covid, would be a government inflicted disaster. Do we deny them energy because it is the "wrong" kind? How badly will that disenfranchise the poor?
Do I think it will be better for people's jobs? People installing solar make $15 an hour. Don't know what those designing it make, but once you have the design it doesn't need to be changed. In oil, things always need to be changed, so designs are always updated. People in the oil industry make upwards of $30 an hour to $750 a day. The world is set up for gas and oil. The infrastructure is in place. The cost of setting it up for anything else will be astronomical and will fall to the tax payer and the business owner to pay all of the costs. Maybe one day, long term, eventually, if they pay a decent wage, in about 50 years, it might be better for people's jobs. Right now? No, I don't think so.
Will it, long term, be better for the planet? I don't know that either. I think investing in it is a gamble when you already have a sure thing, but sometimes gambles pay off.
November 16th, 2020 at 11:01 pm 1605567682
I like the idea of electric vehicles but it's so expensive? I think until you can get them dirt cheap use like normal gas cars it won't be ubiquitous. When you can buy a electric vehnicle for less than $10k and there is minimal maintenance it makes total sense. Until then you probably won't have people shelling out for electric vehicles.
I think there needs to be more incentives for solar panels. I also think it wouldn't be bad to require all new homes be outfitted with solar panels. But doing it to older homes?
November 17th, 2020 at 09:52 am 1605606724
November 17th, 2020 at 11:33 pm 1605655984