'Full Democratic sweep': Wells Fargo analyst unnerves Fox Business host with election forecast

[riversedge]

https://www.rawstory.com/2020/09/full-democratic-sweep-wells-fargo-analyst-unnerves-fox-business-host-with-election-forecast/
September 14, 2020
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“We think the House stays with the Democrats and the Senate goes whichever way the White House goes,” Christopher said. “At this point, that looks to be for the Democrats. It would be a single party government, which we’ve had in the past and markets have done pretty well under that scenario, whether Republican or Democrat.”

The strategist, however, did not rule out the possibility that President Donald Trump could win, citing tightening polls in swing states.

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“Joe Biden wants to raise taxes by $4 trillion,” she complained. “Donald Trump wants to cut taxes. That’s a significant difference. And I imagine markets would trade in accordance with that. It’s not similar at all.”

Christopher offered a measured reply.

“If you’re the Democrats and you come into power, are you going to just raise taxes and if you do so, you’ll crater the economy and you’ll destroy your chances in the 2022 elections,” he noted. “They’re not stupid. They certainly want to keep the economy alive. So would a President Trump. That’s where you have to as an investor start to work off of those similarities and not just focus on the differences.”

Bartiromo seemed to struggle for a response.

“Well, I mean, he should say that then,” she said. “Joe Biden should say that instead of saying, ‘I want to raise taxes $4 trillion.'”

Link to tweet

?s=20

Maria Bartiromo speaks to Paul Christopher (Fox Business/screen grab)

[Statistical]

1. The guy at Wells Fargo is smart enough to know that raising taxes won't hurt the economy ...

now he can't say that because it is verboten. The lie that must never ever be questioned is that high taxes on the 0.1% hurts the economy.

So yes hopefully the Democrats do raise taxes on the ultra wealthy and no it won't hurt the economy especially not if coupled with stimulus to those that need it the most.

[Aristus]

2. Bartiromo...

All she needs is a street corner and a lamp post and she's all set...

[SWBTATTReg]

3. Some of these wealthy people have been begging for their taxes to be raised, such as Warren Buffet,

and others. Besides, before they cut taxes with the 2017 tax cut and jobs bill, the economy was doing very good before trump got into office (cheating his way in over HRC), so the tax cut in 2017 wasn't even needed. So, one could in theory raises taxes back to where they were before 2017 w/o impacting a damn thing.

These scare mongers (Maria B.) seem to only think of the 1%ers and no one else either. She also doesn't seem to think that deficits are bad either, etc. All she cares about is the stock and/or other markets, which can't keep going up and up, and besides, the only reason these markets are going up now is that companies are buying their stock back (supporting their stock prices), etc. Fewer people as a whole own any stocks anymore (stats support this) and the markets are getting to the point that they are overpriced and thus, some sort of correction mechanism will kick in, leveling the field out, and damping the market frenzy somewhat.

[OAITW r.2.0]

4. Significant tax increases on the top 5%* coupled with significant tax decreases on the bottom 75%

would really help the economy, IMHO. The tax decrease for the bottom 75% would provide significant stimulus to our economic engine. And the top 5% would eventually benefit with the market performance.

* This would include major corporations that have not been paying significant taxes.

[Thekaspervote]

5. Exactly!!

[Wellstone ruled]

6. Christopher is seeing a total collapse of

the Farm Economy next year as well. Zero emergency payments,zero Commodity Sales in the Books for next year. It seems our Rural Friends are seeing every thing through Rose Colored Glasses and the other shoe is about to drop.