Yes. Because when I talk about the stock market in the past, posters tend to tell me the rising markets affect the rich and the poor can’t take part. If that’s the case, then many rich folk will get hit pretty hard.
One place I will agree with you on your point is that the rich people who have extra resources will be in a position to buy at a lower entry point which is beneficial vs the un-monied folks who don’t have as many resources to buy lower and they didn’t get out earlier.
Someone else mentioned tariffs were taking place to the tax cut can happen that will be for the rich. That makes no sense either since unless you are a hooker in Vegas, rich people don’t work for tips, SS taxes generally affect lower income, and rich people tend to not have to work for hourly overtime pay. Plus, the other parts of the tax cut are an extension of the tax cut we already working under which gave a tax cut to EVERYONE who pays federal income tax. And the tax cut will increase taxes on rich people with trying to correct the carried interest loophole.
I disagree with the no tax on tips and overtime by the way. It’s silly to say one way of making money gets zero tax while all the other ways have to pay tax.
