What's the mechanism here? Profit collapse for corps? Ok, why?
Unlikely. I may drop out of his class.
Right now, you have the federal government, state and local governments, individuals and healthcare providers spending based on unsustainable levels of debt. If state and local pensions have to face reality, Medicare and social security have to start spending close to revenue (or other government spending is cut or taxes raised to cover it), individuals cut spending either because they recognize pensions aren’t as reliable as they thought and neither is social security, that’d be a lot of potential shocks to happen reasonably near to each other in time. if that happens and debt holders view the fed stepping in as trying to monetize the federal debts and implicit debts, and maybe state and local pensions to the extent they bail them out, what does that end up looking like?
The debt isn't unsustainable, as returning to past overall levels of taxation will easily take care of enough of the shortfall to sustain it. Raising taxes has an impact of course, but hard to see it causing Depression level conditions. But that is something to consider for those of us with long timelines in our investment plans, that a correction is coming at some point due to this factor.
I was including projected medicare and social security and state and local pensions in the "debt" when talking about it being unsustainable. Obviously those aren't classified as debt, but I think as a practical matter when it's decided politically who is going to get stiffed, I don't think it's going to make a big difference that they're not debt. There are going to be a bunch of similarly positioned creditors and pensioners fighting between each other and with taxpayers to see who gets the biggest haircut.
Yep, actual housing inflation is basically over now. Yet CPI shows it still climbing because of the 12-16 month data lag. The 8.1% February annual housing inflation in CPI accounts for almost half of the inflation we are seeing in the headline CPI print... Of course that means real time inflation was actually higher this time last year, but as of today, if you just made housing inflation real time, our headline inflation number would be close to 3%, which is mostly food at this point.
S&P is down 15% since January 22'
I was including it too. I doubt anyone takes a haircut. 10 years ago, yeah they probably would. But Reagonomics and neoliberalism are (mostly) dead. Youll probably see tax increases on the benefits, I guess that counts as a haircut. I could see SS being taxed as ordinary income, but not sure if that even moves the needle enough to be worth the political hit.
Not bad at all I must say. Quite MILFtastic
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I bet she’s off the chart crazyNot bad at all I must say. Quite MILFtastic
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I pay taxes on the unrealized gains of my real estate every year.
Point #3 could be the most catastrophic. A lot depends what Saudi Arabia does. That would make the US Dollar basically useless if the Saudi’s switch to the Yuan.
May I offer a suggestion? I put Golfer on ignore sometime back and my quality of life improved immediately. Just a suggestion. He is certainly free to post anything he wants to within board rules but i don’t think there is any chance that I would ever agree with any of his opinions and most of them just pi$$ me off so I decided that life was better without his commentary. I wish him well in life but I am not interested in wasting time on anything he has to say.
The ignore button exists so if people feel they need to use it, more power to them.
If you think taxing unrealized capital gains is a good idea, you are way dumber than I knew you already were and it’s hard for me to fathom how you survive daily.
But I'd be willing to bet he did. It's a message board: you just can't help yourself.
You do not pay taxes on your unrealized gains. You pay taxes on a very low basis point that goes back to when you originally bought your property. In my city they have an intangible property tax. It is a tax on the equipment a business has purchased. The business paid taxes on its income, then paid taxes when it bought equipment, and this makes the business pay a yearly tax for owning the equipment. This is close to paying taxes on unrealized gains but not as bad. Both are terrible, terrible, terrible ideas and I am in constant debate with city council to remove this horrific tax. Anyone in favor of taxing unrealized gains hates Americans and doesn't want everyone a chance to succeed but rather everyone be the same and for there to be ceilings on success.
You should see what was spent in Iraq and Afghanistan too. But, to be fair, we did get a ton of awesome stuff for it that I think we can resell on eBay or Craiglist or Etsy to get some of our money back.***
I think you are alluding to being taxed on assessed value? I don’t see a logical argument for taxing unrealized gains on stocks in my brokerage account. I was taxed when I earned it and I have just as big of a chance of losing those unrealized gains as adding to them. I’m not suggesting that the government won’t find ways to take more money from me if they think they need it, but there are a lot of other ways that at least feel more fair.
It's not that I think it's the best idea, it's that I think the alternatives are worse. If you think this country can survive without taxing the massive capital sloshing around, then you are dumber than you think I am.
The argument is not to tax YOUR brokerage account. It's to tax accounts with billions.
I think if we tax the unrealized gains of billionaires, then we can focus less on realized gains for the rest of us, and probably cut those rates a little.
A poor man never gave me a job
