Economic, taxes, and tariffs discussion

[DMT]

Sorry, but this is nonsense. If there is data to support your position, present it. But you can't just throw out real government data and replace it with your own imaginary results.

90% of his posts are nonsense so you can't hold that against him.

[onejayhawk]

Thanks for explaining "after tax". I used to think it meant taxes were excluded, but now i know it is infation related.

I was in a hurry and misspoke. That should be "real" not "after-tax".

90% of his posts are nonsense so you can't hold that against him.

What's the problem. 90% of what Blasey-Ford said was nonsense and the rest was rebutted. It never slowed you down.

J

[onejayhawk]

I saw WP article. Exclusive of bonus money, wages have been flat since Vietnam ended. It's a little deceptive since they are dealing with averages and individals are moving up relative to the averages then dropping out.

J

Sorry, but this is nonsense. If there is data to support your position, present it. But you can't just throw out real government data and replace it with your own imaginary results.

What sort of support would you like?

The normal experience is that you enter the job market making less money than when you leave the job market. That is, through job changes and promotions a person usually makes more money in real terms late in life than early in life. Can we agree on that much?

If that's given, the rest is just a statement that perceptions differ from flat averages.

J

[OaklandA's]

The normal experience is that you enter the job market making less money than when you leave the job market. That is, through job changes and promotions a person usually makes more money in real terms late in life than early in life. Can we agree on that much?

While that may be true, it is not the same as your assertion that "after tax wages are up 6% year-to-year." Where is the evidence to support that?

[onejayhawk]

While that may be true, it is not the same as your assertion that "after tax wages are up 6% year-to-year." Where is the evidence to support that?

Re-read the post. I said that someone on the radio was reporting it. I only claimed it felt about right.

Try this. Because of the tax law, payroll deductions are lower causing an increase in takehome. IIRC that average is about $1800 for middle income families. At median income, call it $50 K for convenience, that's 3.6%. Assume wage growth = inflation = 2.4%. There's your 6% and any bonus is gravy. Granted that is not rigorous, but explains why my knee jerk reaction is a favorable.

J

[baldgriff]

I know that this was published in March, but I came across this today

https://www.forbes.com/sites/ryanell.../#52711177b9ef

Democrats Release Tax Hike Plan

1 thing from the article

"Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it's also a direct tax increase on small and mid-sized businesses. The 30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs pay their business taxes on their owners' 1040 personal tax returns. Hiking the top tax rate is a small business tax increase."

[OaklandA's]

"Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it's also a direct tax increase on small and mid-sized businesses. The 30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs pay their business taxes on their owners' 1040 personal tax returns. Hiking the top tax rate is a small business tax increase."

This tax rate increase would only apply to individuals in the highest tax bracket, or those with incomes over $500,000. It would not affect most small businesses.

[onejayhawk]

This tax rate increase would only apply to individuals in the highest tax bracket, or those with incomes over $500,000. It would not affect most small businesses.

While I will not argue with your statement, these are the genuinely-new job generators.

J

[nullnor]

annual budget deficit above 800 billion with still a month in the fiscal year to go. and this is during a good economy. brutal. doesn't seem to make sense to do a stimulus when times are good and then want to do austerity when they will be bad sooner than later... i thought they weren't predicting trillion dollar deficits for another 10 years? we're fucked.

[Sour Masher]

annual budget deficit above 800 billion with still a month in the fiscal year to go. and this is during a good economy. brutal. doesn't seem to make sense to do a stimulus when times are good and then want to do austerity when they will be bad sooner than later... i thought they weren't predicting trillion dollar deficits for another 10 years? we're fucked.

McConnell already tipped the Repub hand on what their solution is to this.. Cut SS, Medicare, and Medicaid. I'm sure that will go over swimmingly for them. Much better to cut the services millions rely on to live than have rich folk pay a a few percentage points more in taxes.

[nullnor]

McConnell already tipped the Repub hand on what their solution is to this.. Cut SS, Medicare, and Medicaid. I'm sure that will go over swimmingly for them. Much better to cut the services millions rely on to live than have rich folk pay a a few percentage points more in taxes.

i thought about this today and it's kind of like what uber rich people do when they have more money then can be spent. it's not really about the money. it's more about wanting to shape public policy. they think poor people are lazy and living off others. or just the power of having your world view confirmed by cutting them or implemented. i could be wrong.

[revo]

McConnell already tipped the Repub hand on what their solution is to this.. Cut SS, Medicare, and Medicaid. I'm sure that will go over swimmingly for them. Much better to cut the services millions rely on to live than have rich folk pay a a few percentage points more in taxes.

And just wait for the billion dollar Space Force!

[nullnor]

[Teenwolf]

Stock market sinks below the Jan. 1st 2018 opening mark. Looks like the stock buyback effect has quickly evaporated!

Do you all still have confidence in this unstoppable beast of a market? Being de-fanged before your eyes. Or show me how I'm mistaken?

[nots]

https://www.cnbc.com/2018/10/26/first-read-on-us-q3-2018-gross-domestic-product.html

Another good quarter