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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

The point of saying that we are for the most part middle-aged, college-educated, white guys is not to say that we are going to outsmart the market. It's to point out that, as uncomfortable as it may be to acknowledge, we have significant privilege that does not apply to most people. We are not the 1%, or even the 10%, but we're a lot closer to 50% than most people. I assume we have disposable income of some sort (a form of privilege) and I am suggesting that one of the ways you can spend that disposable income is on the market. It's too far to travel and too inconvenient now to play Blackjack at a casino, and I don't play online, so I choose to gamble on the market. If you are so inclined, you can too.

Or you can keep bitching about how unfair it is that other people are making money,
 
ticapnews said:
The point of saying that we are for the most part middle-aged, college-educated, white guys is not to say that we are going to outsmart the market. It's to point out that, as uncomfortable as it may be to acknowledge, we have significant privilege that does not apply to most people. We are not the 1%, or even the 10%, but we're a lot closer to 50% than most people. I assume we have disposable income of some sort (a form of privilege) and I am suggesting that one of the ways you can spend that disposable income is on the market. It's too far to travel and too inconvenient now to play Blackjack at a casino, and I don't play online, so I choose to gamble on the market. If you are so inclined, you can too.

Or you can keep bitching about how unfair it is that other people are making money,
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That still doesn't make sense. Just because I can throw disposable money at the market doesn't mean you should. Unlike going to a casino, there's no fun in doing that for most. Or like betting on a game, you can't watch the game for entertainment. Unless you like to stare at the market all day long, there's no entertainment value in betting on the market.

So if I had extra disposable money and no place to use it, leave it in the most consistent grower.

Disposable income is for fun- game tickets, gambling in a casino, a new car, going to shows, going on vacation. Forgive me for not thinking that betting on the market is fun.

BTW, bitching about insider trading or any other illegal ways to game the market is fair. Since it's illegal. Or at least supposed to be.
 
To play devil's advocate, playing the market might be just an enjoyable to some people as gambling at a casino. A hand of blackjack is over in minutes, a game is over in hours, the stock investment can last for days or weeks or months or as long as you can afford to stay invested. To each their own.
 
yeah I don't know anyone "making money" off this stuff right now. I think most people I know are smart enough to not mess with this shit.

then again, maybe if you view every single thing through the lens of "enrich diaper don and his family" maybe you can get ahead
 
French Rage said:
To play devil's advocate, playing the market might be just an enjoyable to some people as gambling at a casino. A hand of blackjack is over in minutes, a game is over in hours, the stock investment can last for days or weeks or months or as long as you can afford to stay invested. To each their own.
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And that's fine, but that still doesn't make it any smarter to do than betting on blackjack.
 
Essentially every retail investor will underperform the total market over the long term. Exceptions are either survivor bias, ignoring their losses, or liars. Don't look for the needle, buy the haystack any chance you get and hold.
 
It would not matter who made money how if we taxed it all back.

Let people have their first $100k a year in income free.
10% tax 100-250k.
25% tax 250k-1M.
50% tax 1M-10M.
90% tax 10M-1B.
99% tax above 1B.

No exemptions, deductions, or anything else.


Let people have their first $10M in wealth free.
1% tax 10-100M.
2% tax 100M-1B.
3% tax above 1B.

No exemptions, deductions, or anything else.


Every year. The end.
 
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Add a 50% tax on estates larger than $100M. 90% on everything over $1B. No, your kids didn't earn it and don't deserve to get it all outright. If they're so smart then surely they will learn to manipulate the money and labor they are left with, just like daddy did, to earn their own yacht, Central Park condo, and ski home in Aspen.
 
ScoobyDoo said:
What could have been. But the economy folks on here, and all over the US were too scared of the black lady.

bsky.app

The Editorial Board (@editorialboard.bsky.social)

If Harris was president, I'd have: 1. health insurance. 2. cheaper groceries. 3. cheaper gas. 4. a MUCH LOWER tax bill. 5. more subscribers. 6. a chance to buy a house. She ain't, though, so nah.
bsky.app bsky.app
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I tried telling people before the election who told me they vote Republican for economic reasons, that the economy does better with Democrats. My coworkers didn't believe me.
 
wolverineTrumpet said:
I tried telling people before the election who told me they vote Republican for economic reasons, that the economy does better with Democrats. My coworkers didn't believe me.
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I did that back for the 1992 and 1996 and 2000 election- showing how Regan and Bush blew up the debt and Clinton saved it. They still claimed that Bush II was going to continue it- and then went onto ignore that he blew it up even farther.

Why people ignore what is happening in front of them that they claim is super important is beyond me.
 
wolverineTrumpet said:
I tried telling people before the election who told me they vote Republican for economic reasons, that the economy does better with Democrats. My coworkers didn't believe me.
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We all tried. The black lady was just too scary. Al Gore was super scary with his "climate" religion. And don't even get me started on how scary Mrs. Clinton was/is/always has been.
 
MichVandal said:
I did that back for the 1992 and 1996 and 2000 election- showing how Regan and Bush blew up the debt and Clinton saved it. They still claimed that Bush II was going to continue it- and then went onto ignore that he blew it up even farther.

Why people ignore what is happening in front of them that they claim is super important is beyond me.
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If Dems win the midterms, you'll start seeing a lot of posts from Drew about how concerned he is about the debt.

Haven't seen one of those from him since Biden's first budget proposal.

Not a peep when the debt hit $39 trillion.
 
FadeToBlack&Gold said:
She said video games are the devil and wants to pump our kids full of Ritalin! I heard about it on the radio show I get all my "news" from every week!
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I heard it on a podcast done by Maura Tierney. No, just kidding, I would never listen to one of the top-billed Newsradio cast members, only one of the lower rung afterthoughts.
 
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