Dow Jones Down -355.48 / -2.81%

[fascisthunter]

Wuh happened?

Quick! Create another meaningless stimulus package! And remember.... never think of removing tax cuts for the rich!

[Deja Q]

1. Was a non-Hillary candidate projected the winner?

:yoiks:

[fascisthunter]

5. No... But Bush is in Office

and conservative Democrats don't have the balls to do anything about it all. Maybe they like the way things are going.

[BleedingHeartPatriot]

2. Hoo boy.

:wow:

[villager]

3. That's my Bush!

n/t

[Mountainman]

4. How many investors will write off stock losses this year?

[fascisthunter]

8. You Mean, We Tax Paying Serfs WIll Bail Them Out????!

My oh my... we are finally seeing how this charade works.

[A HERETIC I AM]

13. Well, that's not how it works, so relax. n/t

[fascisthunter]

14. Well, Then Explain to Me How It Works

if you don't mind...

[Mountainman]

16. Here you go

Capital losses are first used to offset capital gains. So, if you sold a stock for a $900 loss, and had $900 in capital gains from mutual funds or the sale of another stock, the two amounts cancel each other out and you pay no tax on the capital gain, but there is no reduction in your income.

But if your capital losses are larger than your capital gains in a tax year, you are allowed to use up to $3,000 of the excess losses to reduce your ordinary income. So, if you have a capital loss of $900 and no capital gains, you can use the $900 loss to reduce your adjusted gross income. Remember, there's a $3,000 a year limit to this capital loss deduction.

If your capital losses exceed your capital gains by more than $3,000, you can carry what's left of the loss forward to the following year and repeat the process until the losses are exhausted.

[fascisthunter]

17. So When We Throw/Inject Money into the Market

Where does that money inevitably come from. Say we need to borrow money to put into our economy (Stimulus packages), who pays that back? Isn't it fundamentally up to the average tax payer to pay that debt?

[A HERETIC I AM]

18. Thanks for that followup.

1 other thing - None of what you mention applies to tax-qualified accounts (IRA's, 401(K)'s, 403(B)'s etc.), only to normal, non tax-qualified investment accounts. Since gains are not taxed on an annual basis in a qualified account, losses are not deductible in those accounts.

[LondonReign2]

6. The economy is sucky

While we all knew that, it is really starting to show up in the numbers in a dramatic way now.

[Theres-a]

7. Well.....

[Zorra]

9. Time for another rate cut to further enrich the rich before we arrive

at economic ground zero.

[fascisthunter]

10. BINGO!

Seems like every time the hungry birds cry to be fed, we American tax payers end up in further debt. Geeee......

[Yael]

11. Service Sector reports came out today -- and it tanked. Badly.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3169995

[uppityperson]

12. -364.01

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3169480&mesg_id=3169480

[fascisthunter]

15. -370.03 / -2.93%

http://money.cnn.com/data/markets/dow/