You get Mandami. {{ LOL }}
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intercst
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In larger part, he is a rebuke to the “No social programs, no taxes, no debt” administration. He makes it seem as if it is about Mamdani. As of today, it is not.
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I agree. Young people are finally understanding how the system is rigged against them.
Even the Upper MIddle Class aren’t making it.
intercst
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That is not the issue.
It is not about taxing the rich much more either.
It is about geniuinely raising the standard of living. In other words corporate taxes. They must go up into the 50% area. That is totally at odds with the no social programs, no taxes, no debt administration.
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There are at least two sides to that. I would point out, if corporate taxes go up, who do you think ultimately will pay? They’re going to pass that on to the customers of their products.
Taxing the wealthy should be primary. Restore the estate tax, and put the brackets back to where they were 40 years ago (e.g. the ultra-wealthy pay something like 80%). There is no one they can pass that to, so us little people won’t be shouldering that. Unlike a corporate tax, which is passed on to us.
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The price of goods would drop. When the corporate tax rate is that high, corporations reinvest. There would be innovation, better wages, and better productivity.
Your phrase is in static terms. Nothing about industrials is static.
Taxing the wealthy will NOT produce more wealth for this nation. It does not cause them to reinvest.
That’s correct, because people seem to not understand it is not REVENUE that is taxed, it is profit that is taxed. So that means revenue minus wages and benefits, minus R&D, minus capital expenses, etc. If corporations want to lower their tax bill, they can increase compensation, increase R&D, increase the build-out of factories. And all of that is good.
Nothing good comes from low corporate taxes. We’ve seen this since Reagan.
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Both sides of raising or lowering taxes is a legitimate political football.
The problem is on one side of the football line of scrimmage not enough is being said. It is hard to get wealthy congresscritters who will buck the system. The Democrats have been proposing 28%, which is a poor comprimise.
I think the economy will wipeout before a new economics is declared.
Note the markets are moving towards freefall as we get to midday EST.
I do not follow the yield curve, but this morning the change in yields was up 4%. That seems like a powerful move. I do not fully know.
Clearly you’re looking at a different tape than I am. S&P 500 up 1 2%, NASDAQ up 1.9%.
For Elon to collect his $1 Trillion payday, the bull market needs to last another decade.
intercst
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Nah the markets melted a bit into the midday and then ramped up again for the day.
Now I need to see it.