Biden ‘Tax Plans’ Speculations Spook Crypto Speculators

Bitcoin (BTC) and altcoin markets are in red today, with with BTC dropping below the key USD 50,000 mark – in the wake of fresh tax-related speculations from the United States.

Here is how President Donald Trump’s and Joe Biden’s tax plans differ

New York Times columnist Jim Stewart joins “Squawk on the Street” to discuss the tax plans that have been laid out by both presidential candidates. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

For business tax expert Tony Nitti, the significance of this year’s presidential election for Main Street entrepreneurs can’t be understated.

“With zero hesitation, I can say this is the hardest voting decision small business owners have ever faced,” said the partner focused on federal tax at the accounting firm RubinBrown.

A coronavirus pandemic that has rocked many small businesses and caused a previously humming economy to fall into recession, civil unrest that led to downtown closures across the U.S., a cultural divide that is bigger than ever before — and that’s before taking into account the differences between President Trump and Joe Biden on the core business, tax and trade issues that historically have guided many business owner voting decisions.

“I do think there are more variables this election than in recent elections,” said Kevin Kuhlman, vice president of federal government relations at the National Federation of Independent Businesses. “The policy differences are stark, and we have the pandemic creating uncertainty and need for additional financial assistance. There are many short-term and long-term issues that would factor in, and would make a decision difficult.”

Entrepreneurs do vote in large numbers — 95% of small-business owners vote regularly in national contests, according to the National Small Business Association — and the demographic does skew conservative. Forty percent of small-business owners identify as Republican, versus 29% identifying as Democrats, and another 25% who say they are independent. An increasing portion of business owners indicate that they are voting on a more polarized basis. Straight party ticket votes have increased from 18% in 2014 to 27% today, according to a forthcoming survey from the trade group. In 2016, 40% said that neither party best represents their small business, but today, that number is down to 26%.

“More and more are picking sides,” said Molly Day, NSBA spokeswoman.

Here are a few of the biggest business and economic issues that owners are weighing as they cast votes in 2020.

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

https://www.cnbc.com/select/best-credit-cards/

#CNBC
#CNBCTV

Biden’s meeting with tech execs on A.I. regulation under focus

CNBC’s Eamon Javers and Steve Kovach joins ‘Power Lunch’ to report on A.I. regulation after Biden’s meeting with tech executives. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

https://www.cnbc.com/select/best-credit-cards/

#CNBC
#CNBCTV

What Biden’s Fed nominations could mean for crypto

#Biden #Fed #Crypto
Yahoo Finance’s Jennifer Schonberger details how President Biden’s most recent Fed nominations, particularly Sarah Bloom Raskin, may stand on regulating cryptocurrencies and stablecoins.

Don’t Miss: Valley of Hype: The Culture That Built Elizabeth Holmes
WATCH HERE:
https://youtu.be/Sb179GLPNYE

Watch the 2021 Berkshire Hathaway Annual Shareholders Meeting on YouTube:
https://youtu.be/gx-OzwHpM9k

Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb

About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.

Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp

Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Cashay.com
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV

Biden to billionaires: ‘You’re going to stop paying 3%’ tax rate

President Biden announced his intentions to tax billionaires higher than 3% at a speech in Virginia Beach, Virginia on Tuesday, Feb. 28, 203. Biden said, “The idea that they pay at a rate that is lower than the rate of a police officer, a school teacher, a nurse…is bizarre.”

Read “Biden says ‘I’m gonna raise some taxes’ in March budget proposal” on Yahoo News: https://yhoo.it/3SFpItC

Follow us on:
Facebook: https://www.facebook.com/yahoonews
Instagram: https://www.instagram.com/yahoonews/
Twitter: https://twitter.com/yahoonews
TikTok: https://www.tiktok.com/@yahoonews
Website: https://news.yahoo.com/