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Business, Economics, and Tax Policy 8: Bezos Takes Over the World

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Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Amazon is a trillion dollar company, but they pay $0 in taxes. Bottom line: billionaires cost us money. Here's how. (And you can catch the full episode here: <a href="https://t.co/CSzRLNHBBW">https://t.co/CSzRLNHBBW</a>) <a href="https://twitter.com/hashtag/ILYAmerica?src=hash&ref_src=twsrc%5Etfw">#ILYAmerica</a> <a href="https://t.co/3B99h9SuyP">pic.twitter.com/3B99h9SuyP</a></p>— I Love You America (@ilyamerica) <a href="https://twitter.com/ilyamerica/status/1045837025528532992?ref_src=twsrc%5Etfw">September 29, 2018</a></blockquote>
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ScoobyDoo said:
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Amazon is a trillion dollar company, but they pay $0 in taxes. Bottom line: billionaires cost us money. Here's how. (And you can catch the full episode here: <a href="https://t.co/CSzRLNHBBW">https://t.co/CSzRLNHBBW</a>) <a href="https://twitter.com/hashtag/ILYAmerica?src=hash&ref_src=twsrc%5Etfw">#ILYAmerica</a> <a href="https://t.co/3B99h9SuyP">pic.twitter.com/3B99h9SuyP</a></p>— I Love You America (@ilyamerica) <a href="https://twitter.com/ilyamerica/status/1045837025528532992?ref_src=twsrc%5Etfw">September 29, 2018</a></blockquote>
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Why we should be following mookie and send them a wealth tax bill :)
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

dxmnkd316 said:
It's not that there's an assload of loans, it's that the delinquency rates are spiking. That's usually a good sign that a recession is approaching. We're already looking at a yield curve inversion coupled with lower than average tax returns and those coupled with a spike in loan delinquencies?

Winter is coming. And we have a 4-year-old at the helm.
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That's a very interesting leading indicator. One would hope that delinquency and bankruptcy would head down during a strong economy.

Maybe this isn't a strong economy. Maybe it's just a big ol' bubble for the rich.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Kepler said:
That's a very interesting leading indicator. One would hope that delinquency and bankruptcy would head down during a strong economy.

Maybe this isn't a strong economy. Maybe it's just a big ol' bubble for the rich.
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People get overly confident during good times and overextend themselves financially. That's pretty much the long and short of it.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

St. Clown said:
People get overly confident during good times and overextend themselves financially. That's pretty much the long and short of it.
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I didn't. Never did actually. Hasn't really helped me all that much either.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

That's because you're not people, Scooby.


:D
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

St. Clown said:
People get overly confident during good times and overextend themselves financially. That's pretty much the long and short of it.
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Are there numbers to back up that this is what happens? If true, this is really bad news. It implies we'll never save, because when times are tough we can't and when times are good we won't.

I would love to see policy and politics that rewarded Americans saving and being forward-looking instead of inciting them to spend more and indulge themselves in the present, but I'm told our economy is based on consumption and I fear a significant, system-wide shift in favor of personal savings habits would probably seriously damage employment.

I'm sick today (note: being sick sucks), but I've rarely been so depressed over a piece of new information.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Kepler said:
Are there numbers to back up that this is what happens? If true, this is really bad news. It implies we'll never save, because when times are tough we can't and when times are good we won't.

I would love to see policy and politics that rewarded Americans saving and being forward-looking instead of inciting them to spend more and indulge themselves in the present, but I'm told our economy is based on consumption and I fear a significant, system-wide shift in favor of personal savings habits would probably seriously damage employment.

I'm sick today (note: being sick sucks), but I've rarely been so depressed over a piece of new information.
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One of the best ways to remain upwardly mobile is to start saving yesterday and cut your current standard of living. I’m going to retire comfortably because I had a dad who was smart enough to teach me to save when I was in elementary school. This eventually grew to opening an IRA to contribute to when I started working as a soccer ref when I was like 12. It’s continued today and I’m putting away 20+ percent every month.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

dxmnkd316 said:
One of the best ways to remain upwardly mobile is to start saving yesterday and cut your current standard of living. I’m going to retire comfortably because I had a dad who was smart enough to teach me to save when I was in elementary school. This eventually grew to opening an IRA to contribute to when I started working as a soccer ref when I was like 12. It’s continued today and I’m putting away 20+ percent every month.
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Just a note of caution which I doubt you need: it is possible to oversave for retirement, depending on what you're doing. You want to have enough flexibility to deal with short and medium term emergencies without having to make financially injurious decisions because you don't have cash on hand.

Saving is like dieting. There's a point where too much turns the heath curve back down again.

Having said which, I save like a demon because I had Great Depression parents and they drummed into my skull that the bottom can drop out. Dr. Mrs., whose Mom is 25 years younger than mine, wasn't raised with savings habits at all. She's a financially sensible person but she's not haunted by it like I am. We balance each other well.

Since you're single, I'll offer this bit of completely unasked for advice. Only two fundamental differences are lethal to a marriage: the desire for kids and the desire to save. Everything else, from religion to politics, can be navigated, but find somebody who has the same baselines as you on those two pillars and you have a really good start. Dad mode off.
 
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Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

The beauty of having a very smart dad is that he also understands the need to have liquid savings. He made sure I put things in non-tax-advantaged accounts as well. ;)

I have an employee stock program I’ve been using and we’ve been talking about adding a separate brokerage on top of that to contribute to ensuring I always have access to money if need be. That and just cold hard cash.

You want to make sure you have enough of a rainy day fund to afford major medical costs, a new roof, things like that. But also enjoy life.


Edit: That reminds me, part of me wants to cash out of the stocks in the next year or two since we still have Republicans in charge. Once the Dems get back in, I’m hoping they get rid of capital gains and just treat all income the same.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

dxmnkd316 said:
Once the Dems get back in, I’m hoping they get rid of capital gains and just treat all income the same.
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Let it ride. As much as we should do this to have a functioning democracy again, it will never happen under the Democrats as currently constituted. We'd need something enormous -- likely enormously bad -- to happen for there to be a mechanism by which the will of the people could be translated into actual legal and policy changes if the will of the people ran so contrary to the comfort of the rich. And if the tanks are in the streets you and I are going to be worried about other things than our portfolio.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Message unclear. Dumping all money into Underground Seas...

:D

On a more serious note, what’s this “buy a house” stuff? I just assume that’s for old folks.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Kepler said:
Let it ride. As much as we should do this to have a functioning democracy again, it will never happen under the Democrats as currently constituted. We'd need something enormous -- likely enormously bad -- to happen for there to be a mechanism by which the will of the people could be translated into actual legal and policy changes if the will of the people ran so contrary to the comfort of the rich. And if the tanks are in the streets you and I are going to be worried about other things than our portfolio.
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I’d say as thing graph continues to grow, the likelihood increases
https://trends.google.com/trends/explore?date=all&geo=US&q=Guillotine
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Kepler said:
Saving is like dieting. There's a point where too much turns the heath curve back down again..
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stop with your continuous use of the laffer curve :D scooby does not approve!
 
Jimjamesak said:
On a more serious note, what’s this “buy a house” stuff? I just assume that’s for old folks.
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Call my wife and I old fashioned, but we managed to buy our house *just* before the markets took back off in 2015. We had to use FHA to get it because we didn't have the full 10%+ down payment.

Only 324 more payments to go!

The monthly mortgage+PMI+Taxes payment (even after property taxes rose twice) is cheaper still than what our rent was then. The trade off of home maintenance is worth not having to gamble if your new neighbors will be annoying or not.
 
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