Economic, taxes, and tariffs discussion

[Sour Masher]

Totally Agree. We should not and can not continue to be the police for the World.

This is an interesting issue, because I can think of few issues that so poorly fit in the left/right boxes. Both people on the left and right agree with these thoughts, and both people on the left and right disagree.

ETA: Of course, the reasons why those on the left want to intervene tend to focus on humanitarian issues, while those on the right focus on what they consider to be the best interest of the US. But it amounts to similar policies at times.

[DMT]

A chart showing discretionary funding for FY2019.

20190130_091425.jpg

[DMT]

My professor told a joke last night.

What makes a successful defense contract?


One that has 435 sub-contracts. Oof

[DMT]

This is an interesting issue, because I can think of few issues that so poorly fit in the left/right boxes. Both people on the left and right agree with these thoughts, and both people on the left and right disagree.

ETA: Of course, the reasons why those on the left want to intervene tend to focus on humanitarian issues, while those on the right focus on what they consider to be the best interest of the US. But it amounts to similar policies at times.

It's all bullshit to keep the MIC churning.

[DMT]

If you haven't read it, I urge you to read Dwight Eisenhower's final speech.

https://www.pbs.org/wgbh/americanexperience/features/eisenhower-farewell/

[cardboardbox]

Interesting development here:

https://www.cnbc.com/2019/01/18/china-to-offer-path-to-eliminate-trade-imbalance-with-us-report.html

Wish CBB was still around to weigh in

I wish I was too.

But life is busy and I've filled my meager entertainment time with other things. Been playing some games, watching some tv shows and sports, and pretty much completely ignoring politics. Its quite refreshing!

I wish I had the stamina of others here, arguing about the same things, with the same group, until the end of time or your life. I get tired I guess...

[revo]

Just curious - why do think certain types of income should be taxed differently? Why should it matter how the money was earned, as to what tax rate is placed on it?

Why don't you ask this guy? This was back in the days when he was running for President as the Reform Party candidate (2000) and was oh-so-chummy with the media.





"Reform Party members were obsessed with the national debt and Trump’s plan would have literally paid it off — not by cutting programs or raising taxes on working people, but by taxing the wealth of everyone with more than $10 million — about $15 million today, adjusted for inflation.

As detailed in his 2000 book, “The America We Deserve,” Trump said that a one-time tax of 14.25% on net wealth above $10 million (not counting the equity in one’s personal residence) would raise $5.7 trillion, enough to pay off the national debt at that time."

[nots]

Dumb idea then, dumb idea now.

[onejayhawk]

Why don't you ask this guy? This was back in the days when he was running for President as the Reform Party candidate (2000) and was oh-so-chummy with the media.





"Reform Party members were obsessed with the national debt and Trump’s plan would have literally paid it off — not by cutting programs or raising taxes on working people, but by taxing the wealth of everyone with more than $10 million — about $15 million today, adjusted for inflation.

As detailed in his 2000 book, “The America We Deserve,” Trump said that a one-time tax of 14.25% on net wealth above $10 million (not counting the equity in one’s personal residence) would raise $5.7 trillion, enough to pay off the national debt at that time."

When has any tax been one time only?

J

[revo]

Seems to be a lot of stories recently of middle class folks suddenly finding their tax refunds have disappeared. I'll reserve judgment on this until it becomes a tidal wave of 'voting regret' but I don't like how this sounds so far.

[onejayhawk]

Funny how good economic news is treated here.

I heard a comment about the US/China trade talks. When Trump and Xi met in 2017 the Dow was at 20,644. Today it closed at 25,833, ie up more than 25%. In the same period, the Chinese index lost about 40%. Today, the President announced that he would consider extending the tarriff deadline if talks keep progressing. Does anyone think he is showing a weak hand?

J

[revo]

Funny how good economic news is treated here.

I heard a comment about the US/China trade talks. When Trump and Xi met in 2017 the Dow was at 20,644. Today it closed at 25,833, ie up more than 25%. In the same period, the Chinese index lost about 40%. Today, the President announced that he would consider extending the tarriff deadline if talks keep progressing. Does anyone think he is showing a weak hand?

J

Umm, what? The first tariffs didn't hit until early 2018. Chinese stock market got clobbered in 2018, not 2017. Guess why? And it's rebounded 15% since. If you want to talk about it cratering, look at the chart since 2014. No story here.

And funny you posted this on the same day Bloomberg reported that the soybean industry, devastated by the Trade War (yes, it's a Trade War on this planet, J), would take about a decade to recover. I guess they didn't report that one Bizarro Jay World?

Save your Trumpian nonsense. Even if he gets a deal, it's a year too late for many industries. Open your eyes.

[onejayhawk]

If you insist it's a trade war, fine. Just acknowledge it's the only one. I don't think it's worth the title.

There is a deadline on March 1, as in two weeks from now. But, you knew that. So what if the markets recovered somewhat? They are still down 40% from when Xi and DJT last met to talk trade. Open your eyes. You only think it's bad because Trump is doing it.

J

[The Feral Slasher]

If you insist it's a trade war, fine. Just acknowledge it's the only one. I don't think it's worth the title.

There is a deadline on March 1, as in two weeks from now. But, you knew that. So what if the markets recovered somewhat? They are still down 40% from when Xi and DJT last met to talk trade. Open your eyes. You only think it's bad because Trump is doing it.

J

I disagree

[revo]

If you insist it's a trade war, fine. Just acknowledge it's the only one. I don't think it's worth the title.

There is a deadline on March 1, as in two weeks from now. But, you knew that. So what if the markets recovered somewhat? They are still down 40% from when Xi and DJT last met to talk trade. Open your eyes. You only think it's bad because Trump is doing it.

J

Nearly every economist, besides the one he found through AMAZON, also disagree. But you knew that. I guess on Bizarro J World they’re all in favor.