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Off-Topic Stock Market & Crypto Discussion

561caneforever said:
Who would pay for this increased revenue to the Federal Government?
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Businesses, corporations and individuals that pay little or no taxes. You saw what happened to our economy by the end of W's and Trump's administrations. You're talking trickle down economics. And don't cry for them because they are getting richer.
 
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mr.h said:
Businesses, corporations and individuals that pay little or no taxes. You saw what happened to our economy by the end of W's and Trump's administrations. You're talking trickle down economics. And don't cry for them because they are getting richer.
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Would businesses and corporations pass these taxes on to the end consumer?
 
561caneforever said:
Would businesses and corporations pass these taxes on to the end consumer?
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If they can get away with it, maybe, but that's why we have to level the playing field. They are making obscene amounts of profit and salaries, so if some of it goes to paying down our debt, it's all for the better.
 
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mr.h said:
If they can get away with it, maybe, but that's why we have to level the playing field. They are making obscene amounts of profit and salaries, so if some of it goes to paying down our debt, it's all for the better.
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Go to the Taxes thread. 60% of Americans pay ZERO taxes as it is. So you say tax the rich more right? Well, if you taxed billionaires 100% of their wealth, you would reduce the deficit by $4T, all the way down to $27T. And then, who is left to tax?

www.forbes.com

The 2022 Forbes 400 List Of Richest Americans: Facts And Figures

For the first time since the Great Recession, the superrich did not get richer this year.
www.forbes.com www.forbes.com
 
SpikeUM said:
Go to the Taxes thread. 60% of Americans pay ZERO taxes as it is. So you say tax the rich more right? Well, if you taxed billionaires 100% of their wealth, you would reduce the deficit by $4T, all the way down to $27T. And then, who is left to tax?

www.forbes.com

The 2022 Forbes 400 List Of Richest Americans: Facts And Figures

For the first time since the Great Recession, the superrich did not get richer this year.
www.forbes.com www.forbes.com
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Actually, if you wanted to take money out of circulation you raise everyone’s taxes. Not just rich. Also cut spending. Wipe out budget deficit.
 
SpikeUM said:
The key point is that "taxing the rich" is a bull**** line, the only way to meaningfully reduce the deficit is to cut spending.
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3 prong approach.

Increase taxes. Reduce Spending. Eliminate corporate donations to elections and PAC's.

Then decrease taxes as reduced deficit benchmarks are reached. Essentially incentivizing congress to eliminate pork faster so their constituents can pay less taxes which is a ****ed up thing to say, but here we are.
 
CFLCane said:
3 prong approach.

Increase taxes. Reduce Spending. Eliminate corporate donations to elections and PAC's.

Then decrease taxes as reduced deficit benchmarks are reached. Essentially incentivizing congress to eliminate pork faster so their constituents can pay less taxes which is a ****ed up thing to say, but here we are.
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Top income rate is 40%, plus Fica, Medicare, Medicaid, capital gains, obamacare, estate, property taxes, sales, gasoline, toll roads, license plates, etc etc etc etc., which only 40% of the populations is paying.

Dont trust politiicians to stop spending.
 
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Isn’t it just the tax codes for the rich that needs to be fixed? Congress on either side will not ever fix that part.
 
SpikeUM said:
Top income rate is 40%, plus Fica, Medicare, Medicaid, capital gains, obamacare, estate, property taxes, sales, gasoline, toll roads, license plates, etc etc etc etc., which only 40% of the populations is paying.

Dont trust politiicians to stop spending.
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Nobody in the top income brackets pays sticker price.
 
CFLCane said:
Nobody in the top income brackets pays sticker price.
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As I wrote above:

Go to the Taxes thread. 60% of Americans pay ZERO taxes as it is. So you say tax the rich more right? Well, if you taxed billionaires 100% of their wealth, you would reduce the deficit by $4T, all the way down to $27T. And then, who is left to tax?
 
SpikeUM said:
So the Fed has been correct. @90scane , you think 50 bps is now seriously on the table?
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I don’t. I just don’t think the Fed wants to risk a meltdown when they can simply keep doing .25 hikes until they see real progress. We aren’t seeing massive increases in core cpi thus they have time. Now is the time to slow down but I don’t think they are done with March. The latest cpi likely means May will bring another .25 which was not expected. If we get to May and haven’t sent any serious slow down on inflation, .5 is possible in May.
 
90scane said:
I don’t. I just don’t think the Fed wants to risk a meltdown when they can simply keep doing .25 hikes until they see real progress. We aren’t seeing massive increases in core cpi thus they have time. Now is the time to slow down but I don’t think they are done with March. The latest cpi likely means May will bring another .25 which was not expected. If we get to May and haven’t sent any serious slow down on inflation, .5 is possible in May.
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Good points, it just seems like inflation is picking up again, so my guess is they will at least seriously consider 50 bps, especially if we get more hot readings.
 
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SpikeUM said:
Read what I have posted earlier, you could tax 100% of billionaire wealth, and you are barely putting a dent in the deficit.
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If they ever did that, they'd have to admit that they didn't know what they were talking about the whole time. The number of elected officials that actually understand macroeconomics you can count on your fingers. They need a villain to get votes and by declaring the rich, Big Oil, Big Pharma, insurance companies, even oil speculators as the reason prices are going up ignores the most fundamental rule of supply and demand. But morons eat that **** up and repeat it like they know it's a fact.
 
SpikeUM said:
As I wrote above:

Go to the Taxes thread. 60% of Americans pay ZERO taxes as it is. So you say tax the rich more right? Well, if you taxed billionaires 100% of their wealth, you would reduce the deficit by $4T, all the way down to $27T. And then, who is left to tax?
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The US deficit is $1.4T.
National debt is $27T.
 
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