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The GameStop Debacle On Wall Street: Was It Collusion?
INDIANAPOLIS Everyone throughout the country is trying to make sense of what happened between Wall Street, investors, and GameStop on Wednesday.
Experts, like Dr. Matt Will who is an economist at the University of Indianapolis, say it stems from expert analysts on Wall Street forecasting that the stock price for shares in the video game store GameStop will likely fall from $15 a share to $13 dollars a share.
“The institutional buyers, mostly the hedge funds, shorted (the price),” he said. “Well, all the people on Reddit got upset. They said ‘f you, we’re going to buy it’.”
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One of the recommendations includes restricting the tax credit for College Choice 529 to households earning less than $150,000 a year.
Dr. Matt Will, UIndy, talked to Tony Katz Tuesday morning about what the 529 plan is and how every Hoosier should take advantage of it.
“529 Plan is you put money in and your basically creating an opportunity to send your kid to college and you get a tax break for it.
You don’t get a tax deduction, you get a tax credit. If you’re a Hoosier and you put in $5,000 in a savings account for your child, you get to reduce your state taxes by $1,000-it’s a 20% tax credit. You just write it off.”