Lee Kramer on a Biden Presidency

Hi, I’m Lee Kramer, Founder of Kramer Wealth Managers. We were established in 1985- 35 years ago!
I want to talk today about how President-elect Biden’s plans may affect your finances.

From election day, November 3 rd until December 9 th , the US market as measured by the SP500 was up
about 10%. This could be a response to Biden or to the news of the vaccine for COVID-19 that has also
helped the market performance.

Biden has proposed for those earning more than $400,000 per year, there would be a tax increase. He
has also proposed that those earning more than $1 Million per year would no longer benefit from the
reduced tax on capital gains. Instead, they would pay ordinary income tax rates.

For lower and middle class taxpayers, Biden has proposed a new tax credits for the payments of health
care premiums, child care expenses, and long term care expenses.

For corporations such as IBM, Apple, and AT&T, Biden has proposed an increase of the corporate tax
rate from 21% to 28%.
All of these proposed changes depend on the ability to be passed by Congress. Right now, the House is
blue, controlled by Democrats. The Senate control will depend on the results of the GA election next
month. If Republicans win there, the legislature will be divided and the proposed legislation will be
harder to get through. If Democrats win there, and control both branches of Congress and the White
House, these changes will be easier to get through. So we will have to see what happens.

Aside from taxes, Biden’s plans include expansion of the Affordable Care Act (ACA) to include an option
for public health insurance option that would work similar to Medicare. He also wants to allow for
health insurance premium payments to receive a tax deduction to make premiums more affordable.
Another proposal provides free community college for up to two years for all. He also asked for up to
$10,000 of student loan forgiveness as part of the next stimulus package.

The FICA taxes that are deducted from your pay check are currently capped at $137,700. Biden wants to
increase that limit so that higher earners pay more taxes into social security.
Currently, Medicare begins at age 65. Biden has proposed moving this up to age 60.
Biden has also proposed that if you are caring for a spouse or elderly parent, you can claim a caregiver
deduction on your taxes.

For those who are working, Biden also wants to make enrollment into employer-sponsored retirement
plans like 401ks and 403bs automatic rather than voluntary. This will help people save more for
retirement.

All of these proposals will depend on Congress. It is up to them whether they are approved or not. So
we will have to wait and see what happens.

Adrianna Rocha

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Adrianna Rocha joined Kramer Wealth Managers in 2021.

Adrianna is responsible for client experiences and service. As part of the customer service team, she strives to help and provide top-notch service to our clients. As part of her role, she communicates with clients through videophone, schedules client meetings, prepares and processes forms, and gathers information for our advisors.

Adrianna Rocha graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017. Before she joined our team, she worked in the customer service industry for nearly a decade. She excels in human-to-human relations and takes pride in not only her own accomplishments, but her clients’ as well. Adrianna enjoys chatting about her slight obsession with dogs, houseplants, essential oils, and food: especially Mexican food! She is also a proud fur-mama to her beautiful Aussie-mixed pup, Ziva.

Adrianna is not registered with Osaic Wealth.

Adrianna Rocha

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Since joining Kramer Wealth Managers in 2021, Adrianna Rocha has been a client service dynamo, ensuring every client interaction is seamless and delightful. She’s the go-to guru for all things client experience, handling everything from videophone chats to scheduling meetings and processing forms with a smile. Her goal? To make sure every client feels valued and well-cared-for.

Adrianna graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017 and brings nearly a decade of customer service experience to our team. She thrives on personal connections, celebrating both her achievements and those of our clients. When she’s not busy at work, you might find her indulging in her passions—dogs, houseplants, essential oils, and the tantalizing flavors of Mexican cuisine. Proud fur-mama to her adorable Aussie mix, Ziva. Adrianna brings a touch of warmth and enthusiasm to everything she does.

Q: What’s your favorite part of working with clients?

A:  I enjoy client service because it allows me to help people and make a positive impact. Using my listening skills to understand client needs and solve problems is satisfying. I love turning negative experiences positive and the daily variety of challenges.

Adrianna is not registered with Osaic Wealth.

Jack Morley

Jack Morley

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
240-379-6909 FAX
info@kramerwealth.com

Jack Morley has been a vital part of the Kramer Wealth Managers team since 2010, starting with various projects and officially joining full-time in 2013. As our go-to Account Service Specialist, Jack is the friendly face and reliable voice who ensures a smooth client experience. He’s the linchpin in client communications, handling account maintenance and bridging connections between clients and our advisory team.

A 1998 graduate of Gallaudet University with a BA in Psychology, Jack brings a wealth of customer service experience from retail and human services. His handyman skills are a bonus, making him the resident problem-solver and DIY enthusiast. Outside the office, Jack enjoys long walks with his dog Bailey.

Married for 25 years to his wonderful wife, Monica, Jack is also the devoted dad to two dynamic daughters who keep him on his toes. When he’s not walking Bailey—he’s likely tinkering on a new project or spending quality time with his family.

Q: What’s your favorite part of working with clients?

A:  I enjoy assisting clients in maintaining their accounts and ensuring there is a smooth transition in between changes being made within their accounts.

Jack is not registered with Osaic Wealth.