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Business, Economics, and Taxes: Eat Cereal for Dinner
- Thread starter MissThundercat
- Start date
Deutsche Gopher Fan
Registered User
I also think some of that new hire number are people getting rehired into other roles/getting reinstated
Spartanforlife4
Generic Catchy Message
Listened to a Planet Money podcast about the new banking apps and services coming out that aren't really banks. The main one highlighted was Yotta, which I had heard about before and was a company that essentially gamified savings. Except they weren't really a bank, they were just a FinTech company, and all of their savings and whatnot was actually done through a bank called Evolve. But Yotta didn't interact directly with Evolve, there was a third party service provider called Synapse, that would actually do the banking transactions between Yotta's customers and the bank. Well, Synapse went bankrupt and it was impossible to unwind everything because Synapse was using one giant bank account at Evolve for all of Yotta's customers. Documentation was so poor for reconciliation between all the accounts that despite it being over a year now, people are still not able to get all of their money back. Despite there actually being FDIC insurance on the deposits, the FDIC hasn't intervened because no actual bank has failed.
Moral of the story, keep your money that you need for checking/savings in an actual bank or CU. Seems like all of the investing apps and cash payment apps advertise how you can keep your uninvested funds in your account on their app to gain interest, but in the event a TPA goes under or has a disagreement with the bank that actually holds the money, it could be all gone.
Moral of the story, keep your money that you need for checking/savings in an actual bank or CU. Seems like all of the investing apps and cash payment apps advertise how you can keep your uninvested funds in your account on their app to gain interest, but in the event a TPA goes under or has a disagreement with the bank that actually holds the money, it could be all gone.
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dxmnkd316
Lucia Apologist
Mostly government jobs. Private missed by 25k.
Handyman
Hug someone you care about...
But government is shedding jobs...unless they are counting the people they are bringing back or pre-counting federal agents they plan to hire I dont see how they added that many government jobs.
Spartanforlife4
Generic Catchy Message
The brief bit I saw on CNBC yesterday said it was fueled by state and muni government hirings. Would seasonal jobs play into those numbers? I can't think of any reason why there would be big expansion in either of that sector unless summer jobs like landscaping. lifeguards, and parks departments get included.
dxmnkd316
Lucia Apologist
No. Seasonal would be accounted for in the expected numbers. This was a 25k miss for private and a 70k beat for government.
dxmnkd316
Lucia Apologist
That’s not it either. The U3 unemployment fell.
aparch
Well-known member
Came across this TikTok where someone did a two part explainer about both Trump's 1997 tax plan and Clinton's 1993 tax plan, and the disgust I have for what Republicans have done since Reagan after watching this.
It all starts with Reagan doubling the national debt during his first term going from $1 Trillion to $2 Trillion in four years, all while bragging at being a deficit hawk. And, before Clinton took office, Reagan and Bush Sr. combined to *double* the deficit again to $4 Trillion.
When Reagan took office, top marginal tax rate was 70%. It fell all the way to 28% in the middle of Bush Sr's stint, and Clinton's upped it to just shy of 40% in 1993.
Republicans bemoaned the "job killing" aspect of the tax changes, but turns out, 23 Million jobs were created under Clinton which was more than under Reagan, Bush Sr. AND Bush Jr. Combined.
When Jr. got into office, he immediately passed a massive tax cut for the wealthy despite Clinton knocking down the debt and thus continued to pave the way for the Republican agenda.
They certainly love the uneducated, because if any of their followers had critical thinking skills, they would be pissed off.
It all starts with Reagan doubling the national debt during his first term going from $1 Trillion to $2 Trillion in four years, all while bragging at being a deficit hawk. And, before Clinton took office, Reagan and Bush Sr. combined to *double* the deficit again to $4 Trillion.
When Reagan took office, top marginal tax rate was 70%. It fell all the way to 28% in the middle of Bush Sr's stint, and Clinton's upped it to just shy of 40% in 1993.
Republicans bemoaned the "job killing" aspect of the tax changes, but turns out, 23 Million jobs were created under Clinton which was more than under Reagan, Bush Sr. AND Bush Jr. Combined.
When Jr. got into office, he immediately passed a massive tax cut for the wealthy despite Clinton knocking down the debt and thus continued to pave the way for the Republican agenda.
They certainly love the uneducated, because if any of their followers had critical thinking skills, they would be pissed off.
FadeToBlack&Gold
Microlot Marxist
The first of many axes falls
www.knopnews2.com
Curtis Medical Center to close after 30 years, citing inflation and uncertain federal funding
Citing inflation over the past few years combined with uncertainty of future federal funding, Community Hospital has made the decision to close Curtis Medical Center.
www.knopnews2.com
Deutsche Gopher Fan
Registered User
Man, Drew and hovey would be upset if they had any critical thinking skills
MichVandal
Well-known member
I remember pointing that out to someone back in 1992. They ignored the data from the previous 12 years were the debt went up that much.
How they got the reputation of being fiscally sound is pretty spectacular, when the opposite was actually true.
BTW, a hidden investor benefit for the increase in debt- most US debt is held by US investors, who make a really good return on US federal debt. And when the rating goes down they get better returns. That benefit is in addition to the tax breaks they get. Kind of a massive scam where tax payers give them interest.
MissThundercat
Are the cis okay?
Hank Hill: if Drew and Hovey could read, they'd be very upset.
MichVandal
Well-known member
Democrats don't press the issue, too. People forget that most of Regan's work was done with Tip O'Neil.
And while Clinton did manage to balance the budget, he also introduced stock laws that 1) lowered the tax enough to make if a more profitable way to make a living than actually working and 2) allowed CEO's to get paid with it at a discount. Both of which introduced us to "shareholder value" bringing us to where we are today with US corporate culture.
Basically, Democrats have been complicit in this change. Gives them a talking point that nobody takes action against.
Kepler
Cornell Big Red
The Liberals were captured by the thieves. The Republicans are the thieves.
The only way to prosecute the thieves and reverse the last 50 years of bipartisan theft from the public is to vote DSA. We're the only cops on the ballot: the others are either gangsters or paid off cops.
"Ya gotta go, ya gotta go."
The only way to prosecute the thieves and reverse the last 50 years of bipartisan theft from the public is to vote DSA. We're the only cops on the ballot: the others are either gangsters or paid off cops.
"Ya gotta go, ya gotta go."
I’ve been very clear that I love everything that has happened last 25 years.