Today’s Puzzle:

On today’s show, we’re going to be talking about financial planning in President Biden’s America. We’re past his 100th day in office, so let’s take a look at the impacts in financial planning and the markets.

(Click the featured times below to jump forward in the episode)

The Solution:

How has financial planning changed under President Joe Biden’s leadership? He has been in office for more than 100 days, so let’s dive into the impacts we’ve seen financially.

We’ve seen more Coronavirus stimulus payments and their ripple effects. We find that most of the people we speak with, they’re clearly concerned about the implications of what all this spending is going to do to their taxes.

Unemployment benefits have been extended, and some people are not finding it advantageous to return to work. A recent jobs report found not as many jobs were filled as expected, and some governors are saying they plan to cut benefits starting in June.

One of the president’s biggest proposals is a $2 trillion infrastructure plan. The question is how we’re going to pay for it. Biden says the money will come from the highest earners and the corporate tax rate. Depending on your political leaning, you may or may not think this is a good plan.

Part of the bill focuses on roads and bridges, clean drinking water, broadband and power, but another piece includes paid family and medical leave, long-term care and increases in wages. It seems like the left sees the bill as creating good jobs for Americans, and the right thinks the proposal is an excuse for high tax increases.

Another topic is that the top rate on long-term capital gains would almost double from 20% to 39.6%. That could graduate to a maximum of 43.4%. If you’re a skeptic of this, you have concerns that those increases could cause people to not want to sell their property.

Listen to the entire episode or click on the timestamps below to hop around to different topics.

[3:17] – Taxes

[7:50] – Infrastructure

[14:15] – Capital gains

[17:37] – Climate

The Full Picture:

“I find that most of the people I speak with, they’re clearly concerned about the implications of what all this spending is going to do to their taxes.”

– Nikki Earley

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