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Anonymous

15 Oct 2020

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The possibility of a blue wave winning the US elections and what that would mean for taxes. Are you ready for the blue wave to hit?

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This is a badly worded question.

Blue wave refers to where his party would retain control of the House and win the Senate.

While it is likely to have higher tax especially for the higher income earners, the funds would then be trickled down to those earning minimum wage or lower. This can be in the form of healthcare funding/support, or educational loan forgiving, which can defray the cost of living for them.

As a Singaporean/Singapore-based platform, i'm not sure what you mean by 'are you ready for the blue wave to hit'. Outcome of the US election do not have a direct causation on our life but due to the party's policies and stance. What is to come is still unknown.

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