PILOT SPIN
Spin Zone => Spin Zone => Topic started by: Mr Pou on August 16, 2019, 10:39:28 AM
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So I'm seeing a lot of stories/articles in the media on how to prepare for the upcoming recession. Of course, if it's advertised well enough, the people will believe it, clamp shut their wallets, and there really will be a recession. I believe the recession of 2008/9 was largely manufactured.
So who is pulling the strings here? And why? I surmise a certain group of people might think a timely recession just might hurt a certain re-election campaign. Hmmm...
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So I'm seeing a lot of stories/articles in the media on how to prepare for the upcoming recession. Of course, if it's advertised well enough, the people will believe it, clamp shut their wallets, and there really will be a recession. I believe the recession of 2008/9 was largely manufactured.
So who is pulling the strings here? And why? I surmise a certain group of people might think a timely recession just might hurt a certain re-election campaign. Hmmm...
Add to the list of desperation.
Stormy Daniels
Pussygate
Russian Collusion
Obstruction of Justice
Charlottesville Lie
Michael Cohen
Manafort
etc, etc, etc......
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So I'm seeing a lot of stories/articles in the media on how to prepare for the upcoming recession. Of course, if it's advertised well enough, the people will believe it, clamp shut their wallets, and there really will be a recession. I believe the recession of 2008/9 was largely manufactured.
So who is pulling the strings here? And why? I surmise a certain group of people might think a timely recession just might hurt a certain re-election campaign. Hmmm...
And just like 2008-9, Democrats are suddenly in control of the House of Representatives.
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And just like 2008-9, Democrats are suddenly in control of the House of Representatives.
Funny how that happens.
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The Democrat/Media cabal wants a recession, or people to THINK a recession is imminent. How their useful idiot followers don't see the obvious is beyond me. They (Democrats/Media) want it to be a SELF FULFILLING Prophecy.
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So there are signs of a recession ahead. About due for a downswing anyways. I don't think its some scheme by the libs.... Maybe the housing mkt will crash a bit and i can get some cheap property.
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Depends on what people are reading. Some professionals are stating no big deal, while others are doing the Chicken Little routine.
Of course the MSM wants a recession so bad, they feel if they pump it, it will happen. Sorta like their polling.
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Inverted yield curve. European bonds selling at negative interest. Cats and dogs living together....
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Inverted yield curve. European bonds selling at negative interest. Cats and dogs living together....
Which can and do change very quickly.
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So there are signs of a recession ahead. About due for a downswing anyways. I don't think its some scheme by the libs.... Maybe the housing mkt will crash a bit and i can get some cheap property.
Not really. There are signs that people are starting to panic, as if they are determined to have a recession.
By “signs”, I presume you mean the inverted bond yield. But what does that really tell us? It says that people are driving the price of 10 year bonds up because they think bonds are a safer place to be than stocks. But note that is not reflective of any substantial core economic indicator, it is entirely about investor sentiment. So the yield curve is indicative of people determined to make a recession happen. It is gauging a reaction, not a cause.
BTW, I don’t think I ever mentioned it, but my concentrations in business school were finance and innovation. While I don’t work in the finance area, I do have strong understanding of it and why things happen.
Anyone buying bonds right now is dumb and is too late to the party.
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My sister called yesterday. She is panicking because her husband wants to buy an investment property. She is panicking because she heard "a recession is coming" so she was not going to let him buy the house. I told her my opinion of the manufactured recession and I reminded her that her husband is one of the best real estate brokers and he just sold his successful mortgage brokerage, which he still works part time for. If anyone understands the mortgage, he does, and he gets practically free mortgage money. I don't know if I changed her mind though because she keeps reading about the coming recession.
Talk about self fulfilling prophesies.
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From 2001-ish through 2007, the media was screaming about the war. But that never gained the traction the dems hoped for.
Then it became the economy economy economy and as a result we got Obama as President.
Our economy is primarily about consumer confidence. Let the lemmings be afraid and the rest of the economy will tank.
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My sister called yesterday. She is panicking because her husband wants to buy an investment property. She is panicking because she heard "a recession is coming" so she was not going to let him buy the house.
^^^^^This is the problem, and what the Democrats really want. The MEDIA is their megaphone. People allow their emotions to rule their lives.
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^^^^^This is the problem, and what the Democrats really want. The MEDIA is their megaphone. People allow their emotions to rule their lives.
Exactly what I was getting at. Manufactured. IE, the media proclaims, and chicken littles react. Boom! Recession.
Why anyone listens to popular media is beyond me.
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Exactly what I was getting at. Manufactured. IE, the media proclaims, and chicken littles react. Boom! Recession.
Why anyone listens to popular media is beyond me.
The next thing that happens is companies stop hiring because a recession "might be coming". Then it actual happens.
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My sister called yesterday. She is panicking because her husband wants to buy an investment property. She is panicking because she heard "a recession is coming" so she was not going to let him buy the house. I told her my opinion of the manufactured recession and I reminded her that her husband is one of the best real estate brokers and he just sold his successful mortgage brokerage, which he still works part time for. If anyone understands the mortgage, he does, and he gets practically free mortgage money. I don't know if I changed her mind though because she keeps reading about the coming recession.
Talk about self fulfilling prophesies.
Depends on the property. We bought investment property and made out well and then again bought it and lost our ass. It doesn’t matter how cheap the mortgage, you lose money if the property value vanishes or you underestimate the cost of dealing with sociopathic tenants. This could happen with or without a recession. If I had a life do-over I’d pay cash for investment property, and would have picked the properties (and the tenants) much more carefully.
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Depends on the property. We bought investment property and made out well and then again bought it and lost our ass. It doesn’t matter how cheap the mortgage, you lose money if the property value vanishes or you underestimate the cost of dealing with sociopathic tenants. This could happen with or without a recession. If I had a life do-over I’d pay cash for investment property, and would have picked the properties (and the tenants) much more carefully.
^^^^^^This. When I moved to CO, I did not know how long the assignment would last, so I kept my house in PA and rented it out for about ten years. I initially had great tenants, then years later they wanted to buy it, and I wasn't ready to sell. They moved out when they bought another home, and I got new tenants who were HORRIBLE. I ended up having to evict them after they stopped paying rent. $$$$. All in all, it was a net positive, but it ALL depends on your tenants.
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^^^^^^This. When I moved to CO, I did not know how long the assignment would last, so I kept my house in PA and rented it out for about ten years. I initially had great tenants, then years later they wanted to buy it, and I wasn't ready to sell. They moved out when they bought another home, and I got new tenants who were HORRIBLE. I ended up having to evict them after they stopped paying rent. $$$$. All in all, it was a net positive, but it ALL depends on your tenants.
And also what type property. We bought two vacation properties. On one we made out like bandits, the other lost our shirt. I have learned since then that resorts and vacation properties are highly volatile. Stay far away from them unless you really know what you’re doing, and I’m not sure anyone does. Even Donald Trump has made such mistakes. I would also stay away from isolated rural properties, strip malls, and slums in the city; stick to the best quality middle class rental neighborhoods and be vicious in your vetting of tenants. Managing such properties is a full time job, either put your all into it or have a management company handle it but then in that case you need to vet the company. We were lied to about how much to expect one of our properties to rent by the management company, and found out later she owned a competing property and would steer renters toward hers not ours.
Little Joe’s point is correct about the self fulfilling prophecy for recession and he told his sister right; that should not be a reason not to buy investment property. It’s the cheap mortgage that sent up a red flag to me. Yes, if you are a real shark you can leverage debt and get rich and maybe his sister’s husband is one but the statistical likelihood is not - their path to wealth is likely what it is for most of us: live below your means and stay out of debt. If you want to play the game of landlord, pay cash for properties. It’s not that hard to save up $100K for a nice little rental house, if you cannot do that up front then you really can’t afford to do this.
There are exceptions of course, maybe he really did his homework and thinks the net rental income will be waaaaay over the i on the loan so it’s a worthy risk in his mind, or his and his wife’s earned income is in the stratosphere and they can afford to take risks with the market. I am biased too of course.
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Little Joe’s point is correct about the self fulfilling prophecy for recession and he told his sister right; that should not be a reason not to buy investment property. It’s the cheap mortgage that sent up a red flag to me. Yes, if you are a real shark you can leverage debt and get rich and maybe his sister’s husband is one but the statistical likelihood is not - their path to wealth is likely what it is for most of us: live below your means and stay out of debt. If you want to play the game of landlord, pay cash for properties. It’s not that hard to save up $100K for a nice little rental house, if you cannot do that up front then you really can’t afford to do this.
The house my BIL wants to buy is a fairly high value property in a very high value area, near a large university. It will be a vacation home listed with AB&B and other services.
A "Cheap mortgage" can be a huge deal when you are leveraging an investment. And by "cheap" I mean that he doesn't have to pay points, or origination fee because HE will be the mortgage broker. He still has to pay all the other fees though, but he has great connections and knowledge of the market. And he is putting about 30% cash down plus paying for upgrades in cash. They could afford this as a second home, so by renting it out, they will be even better off.
He is an excellent judge of structural issues and I have seen him do wonderful cosmetic work much better and faster than I ever could. That is exactly what this house needs.
He knows the area well and is a professional in this arena. He is also 6' 5" and weighs around 250#s so not too many people are going to mess with him.
He and I have tried to convince my sister that this is as good as it gets when making a real estate investment. I think she has now agreed to it.
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^^^^^^Your BIL sounds like he is making a good investment decision. As you and he know, the purchase price is a large component of what type of return he will see. The risk, which I am also sure he knows is that we may be at or near the top of the market. Markets are hard to time, so there isn't much you can do about that.
If he builds in a REALISTIC reversion price (sale price), and has a reasonable exit scenario, then it will probably work out fine. The mistake some people make is NOT having an exit scenario thinking, "I will own this forever". Things can change, and change quickly in life.
I have seen people get into real estate, then for whatever reason, had to sell it at the worst time. Bad market, high leverage situation, then have to sell at a loss, and come out of pocket to pay off the loan, or let the bank foreclose.
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The house my BIL wants to buy is a fairly high value property in a very high value area, near a large university. It will be a vacation home listed with AB&B and other services.
A "Cheap mortgage" can be a huge deal when you are leveraging an investment. And by "cheap" I mean that he doesn't have to pay points, or origination fee because HE will be the mortgage broker. He still has to pay all the other fees though, but he has great connections and knowledge of the market. And he is putting about 30% cash down plus paying for upgrades in cash. They could afford this as a second home, so by renting it out, they will be even better off.
He is an excellent judge of structural issues and I have seen him do wonderful cosmetic work much better and faster than I ever could. That is exactly what this house needs.
He knows the area well and is a professional in this arena. He is also 6' 5" and weighs around 250#s so not too many people are going to mess with him.
He and I have tried to convince my sister that this is as good as it gets when making a real estate investment. I think she has now agreed to it.
Air B&B might be a game changer. It didn’t exist back when we were doing it. You still have to have a solid system for checking out the renters, I don’t know how that works with AB&B. I don’t know what his physical stats have to do with anything. He can’t legally beat up a tenant but tenants can harass, stalk, steal your identity, destroy the property, squat for months, and they don’t stay within the bounds of the law. Our bad tenants did all of the above. You can’t just physically throw them out unless you want assault charges brought against you. The system is stacked against owners. But that’s long term renting. Vacation is a little different. A different set of problems, like the Russians who partied loudly all night bothering the neighbor who called the police who were told what’s wrong with you Americans? In Russia we do big loud party all night!
Anyway I hope it works out for them. If he is in the real estate business and understands management of rental properties he might know what he’s getting into.
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If there is no impending recession why is Trumplethinkskin acting as if there is one? He's asked the Fed for a 0.75% rate cut. Last time they did one that big was I think 2009. Now he's looking at payroll tax cuts, which will balloon the deficit by hundreds of billions of dollars. These are moves you make when the economy is in trouble, not when it's as strong as he's been claiming.
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If there is no impending recession why is Trumplethinkskin acting as if there is one? He's asked the Fed for a 0.75% rate cut. Last time they did one that big was I think 2009. Now he's looking at payroll tax cuts, which will balloon the deficit by hundreds of billions of dollars. These are moves you make when the economy is in trouble, not when it's as strong as he's been claiming.
We aer not entering a recession because he makes thes kinds of moves.
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If there is no impending recession why is Trumplethinkskin acting as if there is one? He's asked the Fed for a 0.75% rate cut. Last time they did one that big was I think 2009. Now he's looking at payroll tax cuts, which will balloon the deficit by hundreds of billions of dollars. These are moves you make when the economy is in trouble, not when it's as strong as he's been claiming.
Tax RATE cuts don't "balloon deficits". They typically grow revenue as they spur economic GROWTH. More people and businesses making more money pay more total revenue.
Trump is trying to avoid the SELF FULFILLING prophecy the Media and Democrats (same thing) are creating of a recession. It is called being PROACTIVE. This is how businessmen think. You act BEFORE there is a crisis, and avoid one.
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If there is no impending recession why is Trumplethinkskin acting as if there is one? He's asked the Fed for a 0.75% rate cut. Last time they did one that big was I think 2009. Now he's looking at payroll tax cuts, which will balloon the deficit by hundreds of billions of dollars. These are moves you make when the economy is in trouble, not when it's as strong as he's been claiming.
So along with basic reading and writing skills, history and civics, you also have no understanding of basic economics?
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https://conservativehardliner.com/news-rundown-8212019
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Tax RATE cuts don't "balloon deficits". They typically grow revenue as they spur economic GROWTH. More people and businesses making more money pay more total revenue.
Trump is trying to avoid the SELF FULFILLING prophecy the Media and Democrats (same thing) are creating of a recession. It is called being PROACTIVE. This is how businessmen think. You act BEFORE there is a crisis, and avoid one.
This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
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This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
Total Federal Tax Revenue continues to grow after Trump's tax cuts. Is this a "fairy tale"?
FY 2020 - $3.64 trillion, budgeted.
FY 2019 - $3.44 trillion, estimated.
FY 2018 - $3.33 trillion.
FY 2017 - $3.32 trillion.
FY 2016 - $3.27 trillion.
https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762
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This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
Yeah, JFK was nuts and historians were mistaken:
https://www.npr.org/2013/11/12/244772593/jfks-lasting-economic-legacy-lower-tax-rates
In 1962, speaking at the Economic Club of New York, Kennedy said he was committed to "an across-the-board, top-to-bottom cut in personal and corporate income taxes." The tax system, mostly designed during World War II, "exerts too heavy a drag on growth in peace time; that it siphons out of the private economy too large a share of personal and business purchasing power; that it reduces the financial incentives for personal effort, investment, and risk-taking," he said.
Most historians say Kennedy's long-term economic impact was profound but complicated. Virtually all agree that in the short run, his policies did contribute to that golden era of the mid-1960s when the United States was enjoying one of the most robust economic expansions in history.
By 1966 — the year that might have been the fifth of his presidency had he lived — Kennedy would have been presiding over an economy growing at a rate of 6.6 percent and an unemployment rate falling to just 3.8 percent.
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This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
I’m sure you’re the man when it comes to blowing bubbles up a mouse’s ass, or whatever it is you claim to teach, but economics, you haven’t a clue.
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Steingar is a fucking troll with the historical perspective and understanding of a two year old.
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This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
"Cannon"?
Low grades in English?
Speaking of "...things people believe in that have no proof whatsoever", Russian Collusion much?
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If there is no impending recession why is Trumplethinkskin acting as if there is one? He's asked the Fed for a 0.75% rate cut. Last time they did one that big was I think 2009. Now he's looking at payroll tax cuts, which will balloon the deficit by hundreds of billions of dollars. These are moves you make when the economy is in trouble, not when it's as strong as he's been claiming.
I don't suppose real number mean anything to you, but just in case you care to read:
https://www.redbluffdailynews.com/2019/08/20/unleashing-entrepreneurs-good-for-all-of-us/
Whatever you think of President Trump, small-business owners have welcomed his administration’s tax-reduction and regulatory-simplification policies.
Barron’s just reported that the third-quarter Small Business Optimism Index, released Aug. 13 by the National Federal of Independent Business, has “a reading of 104.7,” which is “1.2 points higher than the second quarter and 3.5 points higher than the first.”
Translated, this means that the reason why the unemployment rate is so low – and why wages are rising again – is because the incredible creativity and productivity of America’s entrepreneurs and small businesses has been unleashed.
That just doesn't happen prior to a recession.
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This belongs with religious cannon and some fairy tales as things people believe in that have no proof whatsoever.
If it is a fairy tale that tax cuts don’t balloon deficits then it is also a fairy tale that socialist programs (requiring high taxes to pay for) don’t balloon deficits.
Here is the truth: the deficit is caused by the government spending more than it takes in. Tax cuts do not by themselves balloon deficits. Tax increases do not by themselves balloon deficits. But what is true is that tax cuts expand the economy and tax increases stifle the economy.
But if you cut taxes and at the same time, for example, enact severe regulations on say, energy, which is the basis of the whole economy, then you might shrink the economy and balloon the deficit (by holding spending the same) in spite of tax cuts.
Conversely you could raise taxes but at the same time suppose you drastically cut social programs or your military budget. The economy may shrink but you could possibly shrink the budget deficit also. If you loosen up on regulations enough, you might even stabilize or grow the economy despite the higher taxes.
The size of the economy is not fixed. Lowering taxes and loosening regulations increases the total size of the economy while the reverse is also true. But whether that expansion or contraction results in more or less deficit all depends on spending.
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I don't suppose real number mean anything to you, but just in case you care to read:
https://www.redbluffdailynews.com/2019/08/20/unleashing-entrepreneurs-good-for-all-of-us/
That just doesn't happen prior to a recession.
Unleashing entrepreneurs is the whole point of capitalism - the creativity is spread among millions of free individuals. This will always work better than limiting the power of business creativity to a committee of administrators. (Always self appointed experts - leftist intellectuals.)
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^^^^^^Liberal/Progressives (Democrats) don't understand the concept of growing the economy using tax cuts to generate more tax revenue at lower tax rates. They only hear "lower taxes".
By stimulating the economy through tax RATE cuts, you "grow the pie" and while the income is taxed at lower rates, their is MORE INCOME TO TAX at those lower rates. They just don't get that, nor do they want to. Higher tax RATES, and more, and more Government is always the answer to these clowns.
Instead of doing Origami at Osh Kosh, maybe Michael should attend a seminar given by Stan on how taxes work.
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^^^^^^Liberal/Progressives (Democrats) don't understand the concept of growing the economy using tax cuts to generate more tax revenue at lower tax rates. They only hear "lower taxes".
By stimulating the economy through tax RATE cuts, you "grow the pie" and while the income is taxed at lower rates, their is MORE INCOME TO TAX at those lower rates. They just don't get that, nor do they want to. Higher tax RATES, and more, and more Government is always the answer to these clowns.
Instead of doing Origami at Osh Kosh, maybe Michael should attend a seminar given by Stan on how taxes work.
Facts is racist.....
Maths is racist, too...
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Part of the problem could be due to a little bit of sloppiness wrt use of "tax" and "tax rate". It's kind of like when people conflate health care and health insurance.
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Part of the problem could be due to a little bit of sloppiness wrt use of "tax" and "tax rate". It's kind of like when people conflate health care and health insurance.
The problem is that neither side ever wants to admit the other side is right.
And the left is always wrong. They know the difference between tax and tax rate. As Stan used to quote, (paraphrasing) They would rather the poor be more poor as long as the rich are less rich.
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The problem is that neither side ever wants to admit the other side is right.
And the left is always wrong. They know the difference between tax and tax rate. As Stan used to quote, (paraphrasing) They would rather the poor be more poor as long as the rich are less rich.
God, I wish that was my quote, but that came from the Iron Lady Margret Thacher herself.
There are longer versions of this on YouTube that are worth the time, but here’s her mic drop moment.
https://youtu.be/t37Oy8dD-U4
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God, I wish that was my quote, but that came from the Iron Lady Margret Thacher herself.
There are longer versions of this on YouTube that are worth the time, but here’s her mic drop moment.
https://youtu.be/t37Oy8dD-U4
I knew you didn't invent the saying. That is why I said "As Stan used to quote", rather than "As Stan said".
You were the on the brought it to my attention and I just wanted to give you credit for that. I have used it a hundred times because it is just so true.
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I knew you didn't invent the saying. That is why I said "As Stan used to quote", rather than "As Stan said".
You were the on the brought it to my attention and I just wanted to give you credit for that. I have used it a hundred times because it is just so true.
Yes, it’s perfect. We see they today with all the virtue signaling and white self-hate.
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Part of the problem could be due to a little bit of sloppiness wrt use of "tax" and "tax rate". It's kind of like when people conflate health care and health insurance.
And immigrants and illegal immigrants.
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"Cannon"?
Low grades in English?
Speaking of "...things people believe in that have no proof whatsoever", Russian Collusion much?
Obvious error, let ye who is without sin cast the first stone.
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Obvious error, let ye who is without sin cast the first stone.
true.
but typos aren't the only obvious errors.
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Tax RATE cuts don't "balloon deficits". They typically grow revenue as they spur economic GROWTH. More people and businesses making more money pay more total revenue.
I think this deserves a little more because it’s not quite as simplistic as this.
When enacted, tax cuts immediately create higher deficits or at least lower surpluses. Since the US hasn’t seen a real budget surplus in our life times, let’s stick with the first one. You can argue about whether or not the adjective “balloon” is appropriate, but I don’t think you can can claim that they don’t create bigger deficits.
Tax cuts will help grow the business ecosystem, but only of they are applied in the right places - that is, with people, not corporations. Whether or not the cuts grow enough new economic activity to make up for the revenue reduction isn’t assured, it depends on a lot of other factors.
The natural state of capitalism is to grow. If left unfettered, it can grow at a prodigious rate, but will result in negative externalities - rivers that burn and land that becomes uninhabitable. In the US as in most countries, laws are created to constrain these things. How well a tax cut can create growth depends greatly on the number of laws constraining that growth.
There’s much more but I’m typing on my iPad and have probably already butchered this subject enough. Leave it to say that the topic is significantly more complicated in practice than the theory.
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true.
but typos aren't the only obvious errors.
See my recent post. Mike was right, the notion that tax cuts don’t create higher deficits is properly reserved for canon, although fiction is more like it. The question is whether or not it stays a deficit.
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See my recent post. Mike was right, the notion that tax cuts don’t create higher deficits is properly reserved for canon, although fiction is more like it. The question is whether or not it stays a deficit.
How was Mike Right when Federal Tax Revenue continues to rise even after the Tax Cuts? We have a SPENDING problem, not a Revenue problem, and yes Trump needs to own that too as he signs the budget bills that Congress presents him.
However, the Democrat MEDIA screams and solely blames Trump for "shutting down the Government" and all the Welfare Baby Mommas won't get their checks!!! What is he supposed to do?
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See my recent post. Mike was right, the notion that tax cuts don’t create higher deficits is properly reserved for canon, although fiction is more like it. The question is whether or not it stays a deficit.
If revenue goes up after a tax (rate) cut (and it has), then tell me how that contributes to a larger deficit?
The sole cause of our deficits is spending. And politicians of all persuasions are guilty of overspending other people's money. But I submit that some Federal spending makes more economic sense than other spending. Spending on infrastructure not only provides immediate jobs, but can also make the economy more productive and robust. Giving money to people in a way that induces them to have more babies and for Fathers to leave Mothers so "they don't lose their benefits" is counter productive. But regardless of how the money is spent, it is SPENDING that causes deficits.
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I think this deserves a little more because it’s not quite as simplistic as this.
When enacted, tax cuts immediately create higher deficits or at least lower surpluses. Since the US hasn’t seen a real budget surplus in our life times, let’s stick with the first one. You can argue about whether or not the adjective “balloon” is appropriate, but I don’t think you can can claim that they don’t create bigger deficits.
Tax cuts will help grow the business ecosystem, but only of they are applied in the right places - that is, with people, not corporations. Whether or not the cuts grow enough new economic activity to make up for the revenue reduction isn’t assured, it depends on a lot of other factors.
The natural state of capitalism is to grow. If left unfettered, it can grow at a prodigious rate, but will result in negative externalities - rivers that burn and land that becomes uninhabitable. In the US as in most countries, laws are created to constrain these things. How well a tax cut can create growth depends greatly on the number of laws constraining that growth.
There’s much more but I’m typing on my iPad and have probably already butchered this subject enough. Leave it to say that the topic is significantly more complicated in practice than the theory.
Exactly what I was trying to say when I mentioned regulations. Right now we are in a unique situation with Trump both cutting taxes and rolling back regulations. It will work in the long run if we can get past the short run, and if the government doesn’t go wild on the spending increases.
Unfortunately with our two term system Trump will be gone in 2024, just about the time we will start seeing massive benefits. If he is followed by a Republican let’s hope it’s someone who will follow his lead and stay the same course. If a Democrat is elected who starts enacting this Green New Deal bullshit, then it’s all over with, baby. In the first year or two he or she will take credit for the fantastic economy, then as they get their progressive regulations, high taxes and socialist programs passed, it will be an accelerated plunge into the abyss.
Now to address what you said about negative externalities: how I wish that just once, someone (besides me) would acknowledge the need to discriminate when it comes to these matters. You can follow the 80/20 rule; 20% of regulations will achieve 80% environmental protection. But that’s not what we do. The greenies are attempting 100% “greenness” and pushing 100% regulations. There’s no end to that. The bar keeps getting pushed, until one day we will wake up to find all our private property declared protected wetland or endangered species habitat.
I don’t favor free for all. (One of my pet peeves is palm oil - it’s killing off the wild orangutans.) But we are far too often allowing radical environmentalists to kill private enterprise for no good environmental reason. There’s one such group in Virginia that got local government inspectors to harass a young woman starting up a small farm business. They got her mortgage bank involved and there was a coordinated effort to destroy her, and they nearly did. It’s a horrifying story but she ended up winning (I will try to find the link). So it’s not just on the federal level. Regulations that kill the economy exist on all levels of government and unfortunately are passed by officials who have no real understanding of the facts and are browbeaten by local fanatics.
This is going to continue being a problem until we get rid of this environmental hysteria being taught to all our children. We have gone way too far. There are indeed issues and the environment does need consideration. But what we have now is not intelligent common sense; it’s a radicalized religion.
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Conservative principles work, as proven by the flight out of the “four states of the apocalypse.” However, many of those fleeing bring their wonky, dysfunctional and conflicted ideology with them and cling to it, thus toxifying their new home.
https://www.bizpacreview.com/2019/08/21/staggering-number-of-people-fleeing-four-states-of-the-apocalypse-787963
A good illustration of how virtue signalling shadows and destroys actual virtue.
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Conservative principles work, as proven by the flight out of the “four states of the apocalypse.” However, many of those fleeing bring their wonky, dysfunctional and conflicted ideology with them and cling to it, thus toxifying their new home.
https://www.bizpacreview.com/2019/08/21/staggering-number-of-people-fleeing-four-states-of-the-apocalypse-787963
A good illustration of how virtue signalling shadows and destroys actual virtue.
And those people moving from NJ, CT, IL, and NY are moving to more Republican states, and will infect them, and vote Democrat because they still believe in the Socialist Utopian views of their former states. The very things that are destroying the states they left.
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See my recent post. Mike was right, the notion that tax cuts don’t create higher deficits is properly reserved for canon, although fiction is more like it. The question is whether or not it stays a deficit.
And Mike was wrong, the notion that tax cuts create balloon deficits is properly reserved for canon.
I believe you are correct that the relationship between deficits and taxes isn't simple.
What many people don't seem to understand is that lower tax rates can create higher tax revenues. Conversely, higher tax rates don't guarantee higher revenues.
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And those people moving from NJ, CT, IL, and NY are moving to more Republican states, and will infect them, and vote Democrat because they still believe in the Socialist Utopian views of their former states. The very things that are destroying the states they left.
Sure, the messed up their last state but this time they will get it the Socialist Utopia right!
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Looks like the people are not listening to the news, and are still shopping.
https://marketrealist.com/2019/08/are-retailers-proving-trump-right-economy/?utm_source=yahoo&utm_medium=feed&yptr=yahoo
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Looks like the people are not listening to the news, and are still shopping.
https://marketrealist.com/2019/08/are-retailers-proving-trump-right-economy/?utm_source=yahoo&utm_medium=feed&yptr=yahoo
I used to think it was a sad commentary on the American people, but most of them don't pay attention to the news or politics that affect them. But with the state of so-called "journalism" and news reporting these days, I have concluded it is best if people don't pay attention to the news and just go on with their lives. They are probably much happier than those of us that follow the news daily.
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Looks like the people are not listening to the news, and are still shopping.
https://marketrealist.com/2019/08/are-retailers-proving-trump-right-economy/?utm_source=yahoo&utm_medium=feed&yptr=yahoo
It must be that extra pocket change that they now have burning a hole in their pocket and feeling confident. They obviously aren’t paying attention to the East Coast power brokers trying to pull the middle class’ puppet strings telling them the sky is falling.
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I used to think it was a sad commentary on the American people, but most of them don't pay attention to the news or politics that affect them. But with the state of so-called "journalism" and news reporting these days, I have concluded it is best if people don't pay attention to the news and just go on with their lives. They are probably much happier than those of us that follow the news daily.
The longest I’ve been able to ignore the news has been about two days. It was blissful! I’d love to extend that. But you have to be able really to keep an iron grip on your thoughts ... because you know, and can see everywhere, that the left’s grip on our country is ever tightening through its ceaseless grinding and chipping and attempt to define our lives and our culture.
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The longest I’ve been able to ignore the news has been about two days. It was blissful! I’d love to extend that. But you have to be able really to keep an iron grip on your thoughts ... because you know, and can see everywhere, that the left’s grip on our country is ever tightening through its ceaseless grinding and chipping and attempt to define our lives and our culture.
I ignored 100% of the news from 7/17 -7/28 when I was up at OSH. If I checked my phone or FB, it was to EAA or aviation pages only. It was glorious. Once home, I felt no need to watch national news for over a week.
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I ignored 100% of the news from 7/17 -7/28 when I was up at OSH. If I checked my phone or FB, it was to EAA or aviation pages only. It was glorious. Once home, I felt no need to watch national news for over a week.
Way too many people are like that all the time. But in reality, you can't completely escape it. You see the headlines and hear the soundbites. And they are all designed to make Trump look bad. If that's all you see, then that is what you believe. That is why Trumps tweets are so important But even with that, the press takes the questionable ones and spins them to make Trump look like a maniac.
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Fairly simple illustration, if I make $1,000 a week and spend $1,100 a week I have a deficit, not because I didn't make enough, because I spent too much.
I can always go to my employer and tell him I’m spending more than I make and he needs to up my pay. Chances are, I will now be unemployed.
The left always believes that raising taxes has no negative effect on things. Lagger says that's true, to a certain point, hence the Laffer curve.
BTW, I always love that the left says, “we'll raise taxes on businesses”. Let's say they jack up tax rates 50% on businesses and I suddenly find myself in the market for a new car, is GM, Ford, Toyota, etc. gonna eat the increased tax rate? Fuck no, they have investors to answer to, so they will pass it along to me. I’d you don't believe that, I have a bridge for sale.
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Fairly simple illustration, if I make $1,000 a week and spend $1,100 a week I have a deficit, not because I didn't make enough, because I spent too much.
I can always go to my employer and tell him I’m spending more than I make and he needs to up my pay. Chances are, I will now be unemployed.
The left always believes that raising taxes has no negative effect on things. Lagger says that's true, to a certain point, hence the Laffer curve.
BTW, I always love that the left says, “we'll raise taxes on businesses”. Let's say they jack up tax rates 50% on businesses and I suddenly find myself in the market for a new car, is GM, Ford, Toyota, etc. gonna eat the increased tax rate? Fuck no, they have investors to answer to, so they will pass it along to me. I’d you don't believe that, I have a bridge for sale.
I cannot believe the deep stupidity of people who don’t see that. They want to tax corporations and corporations just pass it along to us. Deep stupidity.
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I cannot believe the deep stupidity of people who don’t see that. They want to tax corporations and corporations just pass it along to us. Deep stupidity.
It's amazing when you try to illuminate the subject for some of these folks. I work with some people who are big on "Yeah, lets just tax the big rich corporations!" It takes a while, but when they finally figure out that the tax is just passed through to the end customer, they start to see the light.
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It's amazing when you try to illuminate the subject for some of these folks. I work with some people who are big on "Yeah, lets just tax the big rich corporations!" It takes a while, but when they finally figure out that the tax is just passed through to the end customer, they start to see the light.
They problem is that they usually never see that.
Some just see the benefits the government is using to buy votes with money stolen from the rich and effectively keeping the poor, poor and dependent on government handouts.
Some others are able to justify that it is ok to hurt the economy, as long as they think they are hurting those mean awful rich people that give them their jobs and build their houses and provide an abundance of food like the world has never seen before.
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It's amazing when you try to illuminate the subject for some of these folks. I work with some people who are big on "Yeah, lets just tax the big rich corporations!" It takes a while, but when they finally figure out that the tax is just passed through to the end customer, they start to see the light.
Why should you have to point out the obvious to them? People really seem to believe companies will take the higher tax out of the CEO’s salary or stockholder dividends, and not raise prices to pay for it. I have a hard time wrapping my head around people being too dumb to figure this out on their own.
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Why should you have to point out the obvious to them? People really seem to believe companies will take the higher tax out of the CEO’s salary or stockholder dividends, and not raise prices to pay for it. I have a hard time wrapping my head around people being too dumb to figure this out on their own.
It is amazing how many people have absolutely NO GRASP of business, economics, nor finance. Unless you study this specifically in college or gain experience with it in the real world, they have no clue. My Dad was a Dentist. He knew NOTHING about these subjects. NOTHING. Fortunately he married a CPA, my Mom, who did all of his business work for him. He was clueless.
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Robert A. Iger (CEO Disney) $65,645,214 annual compensation.
CEO Pay Ratio to median employee salary = 1,424
Number employees 201 K
If you divided Iger's entire salary among every employee, it would come to about 16 cents an hour.
Now I'm not going to say this is a fact, but theoretically, Iger makes that money because his abilities are part of what drives Disney to be so profitable. If he were to be replaced by someone less capable, the individual results on the average employee, and the average NUMBER of employees would most likely be severely diminished. Way more than that 16cents per hour that he "steals" from them.
And I hate Iger.
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Robert A. Iger (CEO Disney) $65,645,214 annual compensation.
CEO Pay Ratio to median employee salary = 1,424
Number employees 201 K
If you divided Iger's entire salary among every employee, it would come to about 16 cents an hour.
Now I'm not going to say this is a fact, but theoretically, Iger makes that money because his abilities are part of what drives Disney to be so profitable. If he were to be replaced by someone less capable, the individual results on the average employee, and the average NUMBER of employees would most likely be severely diminished. Way more than that 16cents per hour that he "steals" from them.
And I hate Iger.
It’s a fact that under Capitalism some people get ever more richer and more powerful. Maybe it’s not “fair” but at least individuals are free to try to be one of the rich, and everyone is free to purchase or reject any product.
Those employees are making 16 cents less than they would if the CEO had a salary of 0, but then, would they even still have a job at all?
Under collectivism, planned economies and government owned or regulated industry, we still have the filthy rich and powerful. The difference is the rest of us are denied the opportunity to participate unless we belong to the elite party. In NK I think it’s approximately 18% of the people. The rest are starving.
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It’s a fact that under Capitalism some people get ever more richer and more powerful. Maybe it’s not “fair” but at least individuals are free to try to be one of the rich, and everyone is free to purchase or reject any product.
Those employees are making 16 cents less than they would if the CEO had a salary of 0, but then, would they even still have a job at all?
Under collectivism, planned economies and government owned or regulated industry, we still have the filthy rich and powerful. The difference is the rest of us are denied the opportunity to participate unless we belong to the elite party. In NK I think it’s approximately 18% of the people. The rest are starving.
Exactly. These mind-numbed supporters of socialism don’t see, either through willful ignorance or shear stupidity, that their system transfers power from a meritocracy to an oligarchy. They must see themselves a future oligarchs.
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It is amazing how many people have absolutely NO GRASP of business, economics, nor finance. Unless you study this specifically in college or gain experience with it in the real world, they have no clue. My Dad was a Dentist. He knew NOTHING about these subjects. NOTHING. Fortunately he married a CPA, my Mom, who did all of his business work for him. He was clueless.
People with absolutely no grasp of economics and history are called liberals...
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People with absolutely no grasp of economics and history are called liberals...
Which, of course, doesn't mean that all liberals have no grasp of economics and history...