What a moron! He and his 'boss' are totally out of touch with the average American investor. He expects American's whose IRA and other investments of their retirement monies which are being literally sucked out of their retirement accounts due to this market 'crash', to feel better just because investors who have enough money in the market can afford to loose money and still have enough to 'buy low'. He's correct about 'buying low' because it make perfectly good sense, if, you still have enough money left to do so. If you had, say, 100k in your IRA, by now you have lost at least 10k due to this market dive since it began, one that shows no sign of abatting any time soon. If it keeps going at it's current loss rate you can expect to continue losing around 5k+ every month until the effects of this virus are mitigated, or until you simply run out of money in your hard earned IRA. At which point, or anywhere in-between, who in their right mind is going to use the little money still there to 'buy low', especially if that's all the savings you have for your retirement, especially if you are already retired or very close to it?
As for trump, and this idiots plan to institute a 'payroll tax cut' until this thing is over; it will only benefit, if at all, those Americans who are still actually actively 'working', those who have not been quarantined or whose jobs have been put on hold by their employers. If you are not 'working', and not drawing a paycheck, because of this virus, and you're not being 'floated' by your employer, a payroll tax cut will do you absolutely no good. All it takes for the average American to get behind on their mortgage payment, car loan, credit accounts, utility bills, health insurance premiums, is to have no income for about one month. After that, the bills will keep coming, but with late payment notices, cancellation notices, foreclosure notices, and collection agency threats. That little bitty 'payroll tax break' will be useless at that point.
But yeah, for Mnuchin, trump, and other billion and millionaires, this "coronavirus pandemic", is, "a great investment opportunity", for themselves.
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As for trump, and this idiots plan to institute a 'payroll tax cut' until this thing is over; it will only benefit, if at all, those Americans who are still actually actively 'working', those who have not been quarantined or whose jobs have been put on hold by their employers. If you are not 'working', and not drawing a paycheck, because of this virus, and you're not being 'floated' by your employer, a payroll tax cut will do you absolutely no good. All it takes for the average American to get behind on their mortgage payment, car loan, credit accounts, utility bills, health insurance premiums, is to have no income for about one month. After that, the bills will keep coming, but with late payment notices, cancellation notices, foreclosure notices, and collection agency threats. That little bitty 'payroll tax break' will be useless at that point.
But yeah, for Mnuchin, trump, and other billion and millionaires, this "coronavirus pandemic", is, "a great investment opportunity", for themselves.
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