SENATE BILL, IF PASSED, WILL MAKE SIGNIFICANT CHANGES TO THE CURRENT ESTATE AND GIFT TAX LAWS Senator Bernie Sanders released his proposed estate and gift tax reform legislation on Thursday, March 25. Senators Kirsten Gillibrand, Jack Reed and Chris Van Hollen co-sponsored this plan, and Representative Jimmy Gomez will reportedly introduce a version of the bill in the House of Representatives. Only time will tell whether this Bill or some variation of it will become law, but if it does it will be to the displeasure of many Americans.
Market Update – The Reddit Revolution Short squeezes in a number of stocks recently, have caused significant volatility and large gains in companies that are being touted in the Wall Street Bets group on the Reddit online message boards. Traders who “short” a stock, borrow shares from another investor for a fee, and then sell them at the current market price and pocket the proceeds. Their success depends on the stock’s price dropping so they can “cover their short” (buy it back) at a lower price and keep the difference. Sometimes, though, shorted stocks go up instead of down, forcing the shorts to buy the shares back at a higher price, losing money in the process. When there are multiple shorts in a stock, the buying of one forces buying by others, driving the price up faster and causing a snowball effect known as a “short squeeze.” This type of