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

[Kepler]

https://www.reddit.com/r/antiwork/comments/nvtjod/retail_sucks_im_all_for_automation_because_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 fucking 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.

 

[ScoobyDoo]

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.

So proud of you that you have exponential growth in the stock market. I have had a managed retirement account for over 20 years, well diversified. Exponential growth is total fucking bullshit. And this diatribe of yours is total fucking bullshit.

 

[Handyman]

This discredited a55hole is still around

"The market decides what people are worth"
-Righties

"You need to work for whatever I say is a fair wage"
-Same Righties

The market only matters when it gives rich fucks what they want. The market doesn't matter when it comes to any of us and what we want or need. The market can fuck off and die.

 

[dxmnkd316]

It's right in the ballpark.

Good.

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.

Bad.

Why yes, the ban on sleeping under the bridge does apply to billionaires too!

 

[dxmnkd316]

So proud of you that you have exponential growth in the stock market. I have had a managed retirement account for over 20 years, well diversified. Exponential growth is total fucking bull****. And this diatribe of yours is total fucking bull****.

Sounds like you just got some bad advice. If you put the same inflation-adjusted amount in monthly, we've had a CAGR of 7.1% over the last decade. A hair over 5.2% over 20 years.

Prevailing theory now is you don't own stocks in your retirement. None. You just buy the S&P. There are a tiny fraction of people who can pick stocks and time things right.
And if you want less exposure to short term risk automatically as you age, use a target fund (though, I'm not really sure glide paths are the best advice now that bond prices are basically scraping bottom and the US has a general policy of no negative-rate bonds).

 

[WisconsinWildcard]

Sounds like you just got some bad advice. If you put the same inflation-adjusted amount in monthly, we've had a CAGR of 7.1% over the last decade. A hair over 5.2% over 20 years.

Prevailing theory now is you don't own stocks in your retirement. None. You just buy the S&P. There are a tiny fraction of people who can pick stocks and time things right.
And if you want less exposure to short term risk automatically as you age, use a target fund (though, I'm not really sure glide paths are the best advice now that bond prices are basically scraping bottom and the US has a general policy of no negative-rate bonds).

Agree re glide paths. Not sure if many of these funds were designed in the current market (especially bond prices) but to be honest, a target fund with minimal fees will still likely outperform most managed accounts over the long run (in my opinion).

 

[Deutsche Gopher Fan]

I’m now hiring slap shots brother to manage my retirement

thanks for that referral, slap. Think he seems great and exactly what I was looking for

 

[MissThundercat]

Two retail stores, two vastly different responses to Pride Month:

Meijer: Small selection of Rainbow shirts and something that says "trans lives matter." Company removes "trans lives matter" shirt from stock while shoving the remaining stock to the back corner by electronics, citing a handful of social media complaints.

Target: Larger, but not massive selection. Not just rainbows. Designs people will actually wear. Display is out front at the main entrance. Company has no issues with employees wearing a red rainbow shirt all month long. No one leering at me in their bathroom. Company appears to give 0 fucks about social media complaints and appears to back up their queer employees when needed.

So.. why am I working at Meijer?

 

[dxmnkd316]

Agree re glide paths. Not sure if many of these funds were designed in the current market (especially bond prices) but to be honest, a target fund with minimal fees will still likely outperform most managed accounts over the long run (in my opinion).

I spoke to my financial adviser about it (my dad) and he thought it wasn't the best idea to dump everything into the total stock market funds. You just don't know.

So I'm rebalancing my funds. Moving half my money into total stock market, a quarter to growth, and only leaving a quarter in target. I'm also changing all of my remaining target funds to around 2050 or 2060. I talked with him for a good two or three hours on how we expect the bond funds to work in rising interest environment. I still am not terribly confident I understand how they'll work, but we both agreed it wouldn't be as bad as I had initially thought. Bad, just not grotesque. It's no place for my money to sit over the next decade.

 

[Slap Shot]

I’m now hiring slap shots brother to manage my retirement

thanks for that referral, slap. Think he seems great and exactly what I was looking for

He's a douche but he knows money. =^P

j/k I'm glad you were able to connect.

 

[ScoobyDoo]

Sounds like you just got some bad advice. If you put the same inflation-adjusted amount in monthly, we've had a CAGR of 7.1% over the last decade. A hair over 5.2% over 20 years.

Prevailing theory now is you don't own stocks in your retirement. None. You just buy the S&P. There are a tiny fraction of people who can pick stocks and time things right.
And if you want less exposure to short term risk automatically as you age, use a target fund (though, I'm not really sure glide paths are the best advice now that bond prices are basically scraping bottom and the US has a general policy of no negative-rate bonds).

I didn't get bad advice. No one was saying that 25 years ago. I also have a lot of money missing cause I invested heavily in my kids. They both have graduated from College now with Degrees and both had minimal student loans to pay off.

Future generations will benefit from things that I never had that are outlined in the Two Income Trap (the greatest book on economics ever written).

1. UBI
2. Universal Health Care.
3. 17 years of free education. 2 preschool, the 13 we have now, and 2 years of post secondary education.

I had to pay for all of that out of my own pocket. In fact I had to pay for part of 3 college educations the most inflated thing you could ever spend money on.

 

[The Sicatoka]

It's imaginary until someone gives him something in exchange for it. Once that happens, tax it.

Exactly. "Book value" ain't wealth. Book value is not a realized dollar.

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.

Treat every realized dollar as a dollar and tax it ... but ... I'll diverge from dx here: Inheritance has already been earned and taxed. My mother worked over 40 years (librarian). She (her offspring) shouldn't be taxed again for her 40 years of paychecks and saving. (It had two commas in the number.)

 

[Kepler]

My mother worked over 40 years (librarian). She (her offspring) shouldn't be taxed again for her 40 years of paychecks and saving. (It had two commas in the number.)

Why not?

Tax wealth, period. There's nothing sacred about it. I've already paid for my paycheck with my labor. Why should I be taxed again?

Tax wealth. Tax greater wealth more. Tax vast wealth so much it erodes to only great wealth. Inequality is the greatest enemy of democracy. Always, always, cut it down.

Property when taken to a ridiculous extreme is a vice that should be discouraged, like being overweight. This is a billionaire:

 

[The Sicatoka]

I have had a managed retirement account for over 20 years, well diversified.

You managing it, or a company 401k plan, or a professional investment advisor/house.

I tried self-managing my first two years with a job.

I learned the old adage about "a man who is his own lawyer has a fool for a client" but substitute 'investment advisor' for 'lawyer'. < hang head in shame >

Fortunately, I had a family member with a really, really good advisor who took me on (and later my mother).

 

[ScoobyDoo]

You managing it, or a company 401k plan, or a professional investment advisor/house.

I tried self-managing my first two years with a job.

I learned the old adage about "a man who is his own lawyer has a fool for a client" but substitute 'investment advisor' for 'lawyer'. < hang head in shame >

Fortunately, I had a family member with a really, really good advisor who took me on (and later my mother).

Company 401K.

 

[The Sicatoka]

Tax wealth, period. There's nothing sacred about it. I've already paid for my paycheck with my labor. Why should I be taxed again?

Again, wealth can be deceptive (book value is not realized value).

If you were taxed based on the book value ("wealth") of your house today, and then your market crashes, you were overtaxed.


Tax realized income.