Announcement

Collapse
No announcement yet.

Business, Economics, and Taxes: Capitalism. Yay? >=(

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Interesting take: JPMorgan says corporate taxes are too low due to Trump’s tax cut. Historically, global corporate tax rates are 3% of GDP, but the US had been 2% since 2000, but now we’re down to 1% of GDP. He’s lobbying in favor of Biden’s tax increase to 28%, which is still down from the 35% prior to Trump’s cut. (I can’t link from my work PC - they’ve killed copy/paste in sites like this.)
    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

    "Good news! We have a delivery." Professor Farnsworth

    Comment


    • Originally posted by St. Clown View Post
      Interesting take: JPMorgan says corporate taxes are too low due to Trump’s tax cut. Historically, global corporate tax rates are 3% of GDP, but the US had been 2% since 2000, but now we’re down to 1% of GDP. He’s lobbying in favor of Biden’s tax increase to 28%, which is still down from the 35% prior to Trump’s cut. (I can’t link from my work PC - they’ve killed copy/paste in sites like this.)
      Yeah, when they advertise tax cuts they always perpetuate the lie by using the wrong number. The only number that matters is the effective rate and in that wheelhouse the US is way way way low.
      **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

      Originally Posted by dropthatpuck-Scooby's a lost cause.
      Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

      Comment


      • Originally posted by St. Clown View Post
        Interesting take: JPMorgan says corporate taxes are too low due to Trump’s tax cut. Historically, global corporate tax rates are 3% of GDP, but the US had been 2% since 2000, but now we’re down to 1% of GDP. He’s lobbying in favor of Biden’s tax increase to 28%, which is still down from the 35% prior to Trump’s cut. (I can’t link from my work PC - they’ve killed copy/paste in sites like this.)
        Jamie Dimon is an interesting figure. Sometimes his actions are altruistic in nature and completely socially conscious and other times he seems like a hypocrite attacking the financial sector for the very crap he benefitted from. He definitely has friends in the media that love to deify him.
        "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
        -aparch

        "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
        -INCH

        Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
        -ScoobyDoo 12/17/2007

        Comment


        • OK, so, this. (Warning: long)

          On the one hand, it's wallstreet bets, so... yeah.

          But on the other hand, it's just coherent enough to worry me. Is it possible that the thesis is true: bonds will not hedge against inflation? Boiled down, upping the percentage of bonds in my portfolio is my retirement protection strategy. Right now I'm about 50% bonds, when I retire that will creep up to 60%, and then as I get into my drool into my oatmeal years to 70%. Just like every finance as-shole has said for the last fifty years.

          I'm safe, right?

          Right?!
          Last edited by Kepler; 04-19-2021, 09:50 AM.
          Cornell University
          National Champion 1967, 1970
          ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
          Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

          Comment


          • Stop reading wallstreetbets for financial advice. Full stop.

            It's the equivalent of reading the National Enquirer for news. If you're doing it for the lulz, fine. But the second you start taking any of it seriously, stop before you end up hurting yourself. Remember, these are morons who are willing to lose their houses on the equivalent of putting it all on 00 on the roulette table.

            Comment


            • Originally posted by Kepler View Post
              OK, so, this. (Warning: long)

              On the one hand, it's wallstreet bets, so... yeah.

              But on the other hand, it's just coherent enough to worry me. Is it possible that the thesis is true: bonds will not hedge against inflation? Boiled down, upping the percentage of bonds in my portfolio is my retirement protection strategy. Right now I'm about 50% bonds, when I retire that will creep up to 60%, and then as I get into my drool into my oatmeal years to 70%. Just like every finance as-shole has said for the last fifty years.

              I'm safe, right?

              Right?!
              Why would Buffett get out of gold, historically one of the most inflation-protected "investments" available?

              This is a mixed bag of advice. He's not wrong that there could be inflation issues, but I don't know if we're there. Which is also why I'm stuck in GDO split level and not living in some overpriced condo I hate.
              Code:
              As of 9/21/10:         As of 9/13/10:
              College Hockey 6       College Football 0
              BTHC 4                 WCHA FC:  1
              Originally posted by SanTropez
              May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
              Originally posted by bigblue_dl
              I don't even know how to classify magic vagina smoke babies..
              Originally posted by Kepler
              When the giraffes start building radio telescopes they can join too.
              He's probably going to be a superstar but that man has more baggage than North West

              Comment


              • Originally posted by ScoobyDoo View Post

                Yeah, when they advertise tax cuts they always perpetuate the lie by using the wrong number. The only number that matters is the effective rate and in that wheelhouse the US is way way way low.
                In the article it mentioned that the effective rate for JPM was 3%. IMO, it just want relevant to to the nominal rate discussion.
                "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                "Good news! We have a delivery." Professor Farnsworth

                Comment


                • Yeah I dont know why anyone would trust wsb for financial advice. They are just 21st century chop shops run by Dude Bros hoping to meme sheep into funding their gambling habits. Go to a real finance person if you want financial advice not some clown who is trying to get every rube to lose his shirt on Doge even as it becomes unprofitable as it rises. ($.39!)

                  Kepler you seem to have this affinity for wsb like they are heroes or something...they are just a crowdsourced version of the very institutions you despise and despite their rep they are no different than the banks. They are just another form of the same scam only they don't discriminate, they will bankrupt anyone no matter how little they can invest. And with no regulation they can give you any advice they want and watch you crash and burn for the lulz.
                  Last edited by Handyman; 04-19-2021, 11:37 AM.
                  "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                  -aparch

                  "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                  -INCH

                  Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                  -ScoobyDoo 12/17/2007

                  Comment


                  • Reputable economists expect inflation to tick up over the next year, but it’s not supposed to be runaway rates. The Fed is expected to raise their FFR before the year is out, and that’s what they expect to increase inflation. The thing is, the Fed never shoots up the rate that would produce scary reactions in rational people. There’s too much burden on these people to risk becoming monsters to the masses.
                    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                    "Good news! We have a delivery." Professor Farnsworth

                    Comment


                    • Originally posted by St. Clown View Post
                      Reputable economists expect inflation to tick up over the next year, but it’s not supposed to be runaway rates. The Fed is expected to raise their FFR before the year is out, and that’s what they expect to increase inflation. The thing is, the Fed never shoots up the rate that would produce scary reactions in rational people. There’s too much burden on these people to risk becoming monsters to the masses.
                      Add a couple of memes to this and you can start your own subreddit ;^)
                      "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                      -aparch

                      "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                      -INCH

                      Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                      -ScoobyDoo 12/17/2007

                      Comment


                      • Originally posted by unofan View Post
                        Stop reading wallstreetbets for financial advice. Full stop.

                        It's the equivalent of reading the National Enquirer for news. If you're doing it for the lulz, fine. But the second you start taking any of it seriously, stop before you end up hurting yourself. Remember, these are morons who are willing to lose their houses on the equivalent of putting it all on 00 on the roulette table.
                        OK, that's what I thought.
                        Cornell University
                        National Champion 1967, 1970
                        ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                        Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                        Comment


                        • Originally posted by Handyman View Post
                          Kepler you seem to have this affinity for wsb like they are heroes or something...they are just a crowdsourced version of the very institutions you despise and despite their rep they are no different than the banks. They are just another form of the same scam only they don't discriminate, they will bankrupt anyone no matter how little they can invest. And with no regulation they can give you any advice they want and watch you crash and burn for the lulz.
                          I am under no illusions. I know if there was a public-facing forum that threatened The Scam then the financial institutions would immediately co-opt it the same way they did the Democratic party. So, no, I don't think they are heroes.

                          My problem with finance is it's all received wisdom, and I don't really have the capacity to judge. I don't have enough of a grasp of finance to have a sufficiently well-tuned BS detector. And, to be honest, the subject is so profoundly without interest to me that I have to force myself to care. Exactly like medicine.

                          But, like medicine, it's important in that fucking it up could hurt me, so I am forced to try to make sense of it all even though I'd rather read the phone book.

                          What's left is common sense and the skepticism that tells me that Talented Amateurs are the kind of people who announce they have invented perpetual motion machines.
                          Cornell University
                          National Champion 1967, 1970
                          ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                          Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                          Comment


                          • Originally posted by Kepler View Post
                            What's left is common sense and the skepticism that tells me that Talented Amateurs are the kind of people who announce they have invented perpetual motion machines.
                            Perfect analogy for anyone who declares to have invented a high-reward, no-risk financial instrument.

                            If you don't change the world today, how can it be any better tomorrow?

                            Comment


                            • There's a legendary investor here in Houghton County I've heard a few stories about. When he was a teenager he came into a small inheritance and grew it so rapidly and successfully that he was able to become a full time ski boarder/pot smoker by the time he was about 30. He build a huge house on the lake for him and his posse, complete with a year-round heated driveway (again, in Houghton Co. MI) so he wouldn't ever have to plow or shovel. Anyway, when asked how he became so rich he was famous for saying "Dude it's SO EASY. When my money went up, I took it out of stocks. When the stock market went down, I put it back in!" ... complete with a unique hand-scooping gesture. The point is, ... well I guess I don't actually have a point.
                              Huskies are very intelligent and trainable. Huskies make an excellent jogging companion, as long as it is not too hot. Grooming is minimal; bathing is normally unnecessary.
                              USCHO Fantasy Baseball Champion 2011 2013 2015

                              Comment


                              • Originally posted by LynahFan View Post
                                Perfect analogy for anyone who declares to have invented a high-reward, no-risk financial instrument.
                                Well, there is one. Being rich and bribing the government.
                                Cornell University
                                National Champion 1967, 1970
                                ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                                Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                                Comment

                                Working...
                                X