How Holiday Shopping Happens in a Pandemic
David Muhlbaum: Like so many things in 2020, Black Friday and its associated discounts will be different this year. DealNews consumer analyst Julie Ramhold joins us to talk about how to find deals as we head into the holidays. We'll also talk about which of Joe Biden's campaign promises he will actually be able to achieve as president and dig deep to find things to be thankful for this year. That's all ahead on this episode of Your Money's Worth. Stick around.
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David Muhlbaum: Welcome to Your Money's Worth. I'm kiplinger.com senior editor David Muhlbaum, joined by senior editor Sandy Block. Sandy, how are you?
Sandy Block: A little chilly but otherwise I'm good.
David Muhlbaum: Good. Well, last week we noted how the market was coming to grips with the prospect of a president elected Joe Biden. And now we're going to get into the nitty gritty of how much of his agenda he'll be able to accomplish and what that means to your money.
Sandy Block: Yeah, and there's still a lot of uncertainty about the Senate. That is, the next few months are going to be pretty wild, given that the exact number of senators who can vote in the narrowly divided Senate are going to move around a bit. One factor we saw this week was COVID, Iowa Senator Chuck Grassley got it, and so won't be around for a key vote on a new and controversial appointee to the Federal Reserve. The other is that both of the Senate seats in Georgia went to a runoff and that election day isn't until January of next year. If both of those races go to the Democrats, they'll get control of the Senate. Oh, and Mark Kelly, the Arizona Democrat who defeated Martha McSally for John McCain's Senate seat, he gets to start in December rather than January with the rest of the Congress.
David Muhlbaum: All right then, but we were going to talk about Biden.
Sandy Block: Right. And that's the thing. There's no way Biden's going to be able to make the big changes he has planned with a GOP Congress, raising taxes on people making more than $400,000 a year. Raising the estate tax, no. Maybe a few targeted taxes related to infrastructure might get through.
David Muhlbaum: Okay, but his platform wasn't all increases. There were cuts proposed too. So how would those fare?
Those have a better shot and the chances of tax cuts for lower and middle income Americans are somewhat better, especially if the economy's
