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

[RaceBoarder]

The work shortage deal is gaining quite a bit of momentum in my neck of the woods. And a good chunk of chatter is among white, suburban upper middle and middle class voters who aren't full-on MAGA's and likely voted for Biden back in November.

This seems like it could be a class issue vs just a MAGA/Democrat issue. Something to keep in mind as this develops and if its something that hangs around.

[ScoobyDoo]

The work shortage deal is gaining quite a bit of momentum in my neck of the woods. And a good chunk of chatter is among white, suburban upper middle and middle class voters who aren't full-on MAGA's and likely voted for Biden back in November.

This seems like it could be a class issue vs just a MAGA/Democrat issue. Something to keep in mind as this develops and if its something that hangs around.

Work shortage meaning lack of workers, or work shortage meaning lack of jobs? I assume the former.

[RaceBoarder]

Work shortage meaning lack of workers, or work shortage meaning lack of jobs? I assume the former.

Lack of workers. Many low-level service jobs aren't getting applications, let alone "quality" (meaning people who will dependably show up) candidates.

[ScoobyDoo]

Lack of workers. Many low-level service jobs aren't getting applications, let alone "quality" (meaning people who will dependably show up) candidates.

This is where immigration comes in. But we don't like those people, so **** it.

[Kepler]

Work shortage means low pay, no benefits, and garbage conditions.

"Nobody's buying these rotten vegetables."

"We need more customers!!!"

[ScoobyDoo]

Work shortage means low pay, no benefits, and garbage conditions.

"Nobody's buying these rotten vegetables."

"We need more customers!!!"

Yes, and I think the pandemic has a lot to do with this and sure the unemployment dollars is contributing. The fact that everyone expects it all to switch back on a dime when the pandemic isn't even over is startling to me.

[Kepler]

Forgive me if you've seen this one before. One of the very few examples of this meme I have liked.

[FadeToBlack&Gold]

Work shortage means low pay, no benefits, and garbage conditions.

"Nobody's buying these rotten vegetables."

"We need more customers!!!"

"I see Help Wanted signs everywhere! Nobody wants to work!" says my uncle, who owns a sealcoating truck and collects unemployment every winter instead of getting a seasonal job.

[rufus]

Yes, and I think the pandemic has a lot to do with this and sure the unemployment dollars is contributing. The fact that everyone expects it all to switch back on a dime when the pandemic isn't even over is startling to me.

But its also that entire business sectors are all opening up at once, needing workers, and people can pick and choose the jobs they want to work at.

You offering ****ty pay, work conditions, or crappy hours, don't be surprised if no one wants to work for you, and take a job where the conditions are better, instead.

Supply and demand, ain't capitalism great? Business ain't happy that for once, the workers get to exploit it.

[dxmnkd316]

Can you 'splain this to me as if I were a bucket of paint? On micro that's what I am.

This is actually a really good explanation of why it's a bad idea to tax unrealized capital gains.

What people like Scooby want is this. If you buy $100 worth of Gamestop stock on December 1 because you read something on reddit that sounded interesting, and if it went to $100,000 by December 31, they would like you to pay to the government $35,000 to $40,000 by April 15 of the following year, even though you hadn't sold a single share of that stock, hadn't realized any profit at all, and given the nature of things, might end up losing your $100.

Imagine this price change took place over a four-day window. You bought December 30th. It went to $100k on December 31st. It crashed on January 2nd. You suddenly have nothing to pay that tax bill. The rich would be able to figure it out. Your average Ape like us would be super ****ed.



Back to your original question, Kep. Since insiders need to report their share movements/holdings to the SEC, we already know how many shares they own at the end of the year. It's not that hard to take the price at 12/31/2020 of their shares owned and then price it out at 12/31/2021.

It's... not an actual solution since there are issues with it. I believe they only need to report shares held for which they're considered insiders. So say Acme's CEO owns what appears to be an assload of Acme stock. LIt's a stodgy old blue chip stock that goes up a fairly reliable 5-7% a year. Great, we can price that out on market close on NYE. But what if the CEO owns 5x that value in shares of Tesla and it goes up by 500% in a year? Wouldn't the bulk of that person's wealth be undisclosed? Yes. Which is why it's an incomplete picture and not an actual solution.

But what if we pass a law that says everyone is required to show their holdings on their 1099s? The overall picture of wealth gets a little more clear, but there are still issues. Back to Lynah's post, you would never be able to tax wealth on things like "art" however you choose to define that. There isn't really a good way to track the market price of every piece of artwork.

An otherwise indigent person should not have to sell a family heirloom just because worldwide collectors decide that Mighty Morphin Power Rangers are back in fashion and drive up the price.

Worse yet... Imagine a person like me has a house. I bought the house at a great price at the depths of the housing market. It's now appreciated a LOT. Much of it in the last year or two. Imagine I had to somehow come up with the cash to pay for this increase in my overall wealth. I need a house to live in, but what if I suddenly can't pay for the tax on the house's appreciation? Do I have to sell the house to pay that tax? What if we can't find a place near our jobs and where our (hypothetical) children go to school? It's a bad, bad, bad, bad idea.

I really don't care if Elon Musk is worth eight gajillion dollars today. It's imaginary until someone gives him something in exchange for it. Once that happens, tax it.

The real way to fix this is treat every earned dollar as a dollar. No separate rates for inheritance, capital gains, gifts, whatever. A buck is a buck is a buck. All of it taxed at progressive rates as income. No flat rates like OASDI. And all universal income is treated as income regardless of where it's earned. Get rid of the step up in basis, too.

Bottom line. You don't value something until it changes hands. Treat it all the same.

[Kepler]

https://www.reddit.com/r/antiwork/co...ecause_no_one/

[dxmnkd316]

The work shortage deal is gaining quite a bit of momentum in my neck of the woods. And a good chunk of chatter is among white, suburban upper middle and middle class voters who aren't full-on MAGA's and likely voted for Biden back in November.

This seems like it could be a class issue vs just a MAGA/Democrat issue. Something to keep in mind as this develops and if its something that hangs around.

We're seeing it in the high skilled trades as well. High paying union jobs. Can't find the people to hire.

[aparch]

But its also that entire business sectors are all opening up at once, needing workers, and people can pick and choose the jobs they want to work at.

And... those companies whining about lack of applications are also able to be choosy in who they hire. Not an exact fit? Just tell the applicant to fu** off and whine they can't find good help.

[FadeToBlack&Gold]

This discredited a55hole is still around

[SJHovey]

No. That is not even in the ****ing ballpark. We can start with Elizabeth Warren's wealth tax. Adjust from there.

It's right in the ballpark.

This whole complaining about it is silly. Guys like Bezos, Buffett, et al, are exactly like you and me, and following the same rules as you and me. There is one difference between you and me, and those guys. They are further along the exponential growth line than we are.

I figured it out one day. I could easily end up a billionaire, without winning the lottery. I'm just going to have to live to, and keep working to about age 125 or so. By that time the exponential growth of my 401k and other investments will easily put me over the top.

There are two ways to get to where Bezos and the rest of them are at. Either live, work and save well into your 130's, or, figure out a business where you will immediately earn yourself lots and lots of bucks or valuable stock so that your investment account doesn't start out with $5000, like most of us, but jumps ahead about 40 years to $5 million.