Why Is Bob Pisani, And By Implication General Electric, Giving Tax Advice On TV?
In a segment earlier on CNBC, the ever cheerful Bob Pisani, whose only recent specialty on CNBC has been to find new and improved concepts that equate with "victories for the bulls" (global thermonuclear warfare, mutated viral contamination of water supplies, mass extinction events?), broke one of TV's cardinal rules by providing tax advice in a market primetime broadcast. In the clip below Pisani describes the tax trap associated with a wash sale. While he did not screw that up, he subsequently went on to describe how one can find other ETFs that would allow the viewer to get around the was sale rule, in essence providing a tax (avoidance) service, and also how viewers can avoid paying taxes. Of course, intent is a part of any comparable transaction, and one wonders whether CNBC cleared this segment in which Pisani comes dangerously close to describing a method to evade taxes, which is a felony offense.
We understand that the administration (and GE) are hell bent on pushing every tax(able) dollar into buying more GE and other toxic stocks, but at some point the government may actually need to collect on whatever meager tax revenue is left, courtesy of ever more bankrupt consumers.
h/t Bruce K.