The Nation's Financial Condition

[a fan]

Yes. Regressive taxation.

But that leaves out all the benefits they're getting....the supply side of the regressive taxation.


You tax all transactions evenly. Then you use some that money to help the poor.

And the tax itself would float around one percent. A nothing tax to a even a poor person buying groceries. But it all adds up.

[CU88]

Ah, you need an update. Trump's about to add another massive spending bill.

Anyone else notice the board's Republicans never post on this thread?

If a Democrat wins the presidency in 2020, I predict there will be an explosion of chin stroking, sternly-worded op-eds, and endless Fox News segments about how we suddenly need to cut spending and take deficits seriously.

And it will all be repeated here by the now silent r's...

[old salt]

By 2021 the military will be rebuilt, the border crisis will be under control & we can return to spending caps. ..

[youthathletics]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the ETIBA oF their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

[HooDat]

Take it a step further and get rid of income tax altogether and (I think I may have said this before) ..... go to a federal sales tax.

I'm assuming you mean a consumption tax, and anytime a good or service is exchanged, a tax is levied?

Sales tax connotes only retailers pay in.

To soften the blow for the poor (I can't believe I am going to say this...) perhaps this is where UBI would be useful.

You can do anything you like for the poor. We'd be swimming in money if we installed this tax.

yes - actually a transaction tax.

[foreverlax]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the ETIBA oF their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

GDP for all of last year was 2.99%. Expectations for this year are well under that...

[CU88]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the ETIBA oF their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

Nothing like the Big Federal Credit Card to keep the good times rolling...

[HooDat]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the ETIBA oF their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

Nothing like the Big Federal Credit Card to keep the good times rolling...

until the bill comes due.

But hey, you know how to fix that? INFLATION. That is why the fed keeps trying to tell people inflation isn't high enough. Who cares that housing and education costs are putting the average family up to their eyeballs in expenses/debt - the 0.1% paid cash for their houses and they need the stimulus to keep the good times rolling!

[youthathletics]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the EBITDA of their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

Nothing like the Big Federal Credit Card to keep the good times rolling...

until the bill comes due.

But hey, you know how to fix that? INFLATION. That is why the fed keeps trying to tell people inflation isn't high enough. Who cares that housing and education costs are putting the average family up to their eyeballs in expenses/debt - the 0.1% paid cash for their houses and they need the stimulus to keep the good times rolling!

I am a bit confused by both your responses. My original comment was that a couple people a know/met, one at a 5 star resort, in Va, essentially was not making cash like it has been in the recent coupe years, based on their corporate bonus structure. Meaning, more and more people are spending their discretionary income, to include business meetings and C-Suite getaways for corporate America.

Does that not indicate, by some metric, and maybe it is EBITDA in this case, that by allowing the wealthy to have more discretionary income they in return hire more, spend more, and give out more bonuses?

[Typical Lax Dad]

I am ignorant to this part of finance but have run across two people in the last few months who have been advocates of the current economy that are in private practices, one of which works for the former wife of the founder of BET at a resort, who’s bonus is based on a percentage oF the EBITDA of their business. Both had not received a bonus of any significant value until 2017 over the past 6 plus years.

I’m not smart enough to connect the dots, but each have said business is better than its ever been in a very long time. Corporation are spending their cash and appear to be helping many businesses and employees.

Nothing like the Big Federal Credit Card to keep the good times rolling...

until the bill comes due.

But hey, you know how to fix that? INFLATION. That is why the fed keeps trying to tell people inflation isn't high enough. Who cares that housing and education costs are putting the average family up to their eyeballs in expenses/debt - the 0.1% paid cash for their houses and they need the stimulus to keep the good times rolling!

I am a bit confused by both your responses. My original comment was that a couple people a know/met, one at a 5 star resort, in Va, essentially was not making cash like it has been in the recent coupe years, based on their corporate bonus structure. Meaning, more and more people are spending their discretionary income, to include business meetings and C-Suite getaways for corporate America.

Does that not indicate, by some metric, and maybe it is EBITDA in this case, that by allowing the wealthy to have more discretionary income they in return hire more, spend more, and give out more bonuses?

Probably a bump from Government contractors doing off-sites and high performer events... good for the resort so it’s good for the employees....if it’s that spot in Leesburg, for instance, that pretty much describes it. Also some companies are picking that spot as the dollar goes a little further there than it does at Ritz Carlton in Naples or Orlando.

[youthathletics]

Salamander Resort. Middleburg,Va all their resorts are booming over the past 2 years, according to staff.

[Typical Lax Dad]

Salamander Resort. Middleburg,Va all their resorts are booming over the past 2 years, according to staff.

Propped up by the government spending. Not sure if Ocean House in RI or Equinox in VT are doing as well.

[Typical Lax Dad]

https://www.ustravel.org/sites/default/ ... -page.html

[youthathletics]

https://www.ustravel.org/sites/default/ ... -page.html

That is actually quite promising. Reading between the lines, it seems people realize they need to self regulate their own spending. They enjoyed the highs of stable recovery and are now pulling back. Although, I would prefer to see comparisons of same time last year instead of month to month to see how it compares based on the the season of vacation, post tax deadline in April, etc.

[Typical Lax Dad]

https://www.ustravel.org/sites/default/ ... -page.html

That is actually quite promising. Reading between the lines, it seems people realize they need to self regulate their own spending. They enjoyed the highs of stable recovery and are now pulling back. Although, I would prefer to see comparisons of same time last year instead of month to month to see how it compares based on the the season of vacation, post tax deadline in April, etc.

Ten year trend has been good.

[CU88]

Where is that 4% the r's promised us?

The government says the U.S. economy grew more slowly in 2018 than it previously estimated, downgrading its estimate from 3% to 2.5%.

https://www.politico.com/story/2019/07/ ... ap-1436630

[a fan]

Wait, so Trickle Down didn't work?

Are you SURE? Because they told us that "this time" it was certain to work.

[holmes435]

GOP leader concedes tax cuts may not pay for themselves as 2019 deficit grows

[a fan]

It will become "a problem", the moment a Dem takes the White House.

[cradleandshoot]

It will become "a problem", the moment a Dem takes the White House.

No problem there a Fan. The nation just has to shift gears and tax the nation all the way back to prosperity. It is such a magical formula you can make it happen without cutting one thin dime of spending. Like with Houdini and all magicians... it's just an illusion