Biden wants to Raise Taxes on those making 400k or more !

Discussion in 'Economics' started by derektrader, Oct 13, 2020.

  1. Sig

    Sig

    For sure. My personal philosophy is that money is only a means to the end of me having the most enjoyable and fulfilling life possible. So if I chose to live in Switzerland it would be because I really wanted to live there regardless of the cost. In that way I'm the opposite of the guy's who are claiming they'll leave the U.S. if the marginal rates for wages over $400,000 goes up by X% and are basically slaves to money.
     
    #51     Oct 14, 2020
  2. #52     Oct 14, 2020
  3. MrRenev

    MrRenev

    Age 25–34


    Equivalent to a 2-year degree or higher (%) - Equivalent to a 4-year degree or higher (%) - Equivalent to a 6-year degree or higher (%)
    [​IMG] Poland 43 43 31
    [​IMG] Russia 58 58 NA
    [​IMG] Switzerland 49 49 23
    [​IMG] Slovenia 41 34 24
    [​IMG] Netherlands 45 44 17
    [​IMG] France 45 28 16
    [​IMG] Germany 30 28 14
    [​IMG] Sweden 46 35 14
    [​IMG] United Kingdom 49 42 14
    [​IMG] United States 47 36 11
    [​IMG] Colombia 27 27 NA
    [​IMG] Saudi Arabia 26 26 NA
    [​IMG] Italy 25 25 15
    [​IMG] Austria 39 24 15


    If 50% of the 25-34 age group (the most "educated") is the same as almost everybody then yes.

    I fail to see how some useless college degree means good quality of life.
    I lost 5 years of my life and I'm not getting them back.
    5 years of having to wake up early and being absolutely poor and being sleep deprived.
    For what? I don't even remember anything. Anything I learned I could have easilly learned in a few months at most.
    What's the only point? Serve as a filter and reduce risk for recruiters? Be a farm raising wageslaves like we raise cattle?

    Fuck school, I want my youth back. Give be back my lost years!
    No idea how so many got brainwashed that they had to be "educated".
    Young gullible kids. I didn't know any better either when I was 20 but I had my doubts.
    Always wondered "wtf is the use for this". I have the answer now: nothing.

    A big cost for taxpayers, a big life cost on students, a big waste of time. Sucks.
    I got a piece of paper that says engineer title now how great I don't even know where it is, maybe I'll use it as toilet paper if I run out.
     
    #53     Oct 14, 2020
    James.DeGori likes this.
  4. No one wants their taxes increased. I think the biggest frustration amongst tax payers isnt so much the tax rate but who reaps the benefits of our taxes, what does the government do with our taxes. It pisses people off when you see illegal immigrnats and lazy people who can work getting entitlements. When you see a 24 year old with 2 kids who is already on welfare, not married, and then decides to have another baby. That is infuriating.
     
    #54     Oct 15, 2020
  5. Sig

    Sig

    So here's the deal, 53% of U.S. discretionary spending goes to the military. I spent more than 20 years in the military, I can tell you that there were literally hundreds of things I saw money spent on that could have been better spent on a child getting enough to eat, regardless of their race or national origin. I'm curious if you saw things differently in your time in the military?

    As you can see, a tiny part of the budget goes to medicare and health as well as housing and community. Of that, a vanishingly small part goes to your mythical 24 year old with 2 kids on welfare and not married, and more exactly most of that goes to the kid who had no say in the matter of being born to that parent.

    So I wonder why you decided to be so self righteously indignant about that miniscule part of the budget? Perhaps you'd be better spending your time giving thanks for winning the lottery of being born to parents who had enough money to raise you, could provide a home in a safe area, and could provide a good example and good education for you. Instead of shitting on the people who weren't blessed with all that, who if we eliminated all benefits and let them starve would probably reduce your tax bill by merely a few dollars. Pretty asshole viewpoint, actually.

    upload_2020-10-15_15-2-18.png
     
    #55     Oct 15, 2020
  6. toby400

    toby400

    has anyone thought that the idea behind this thread was for the original poster to lobby support for Trump under the pretext of the unproven allegation that Biden is bad for the average American. I thought this site was purely for trading matters not veiled political promotion!
     
    #56     Oct 15, 2020
  7. Overnight

    Overnight

    Can you give some specifics? I've always been fascinated by the stories of the $1,000 hammer and $2000 flashlights etc, just because they had to meet a MIL-SPEC, but never knew if they were true.
     
    #57     Oct 15, 2020
  8. He's constantly posting racist garbage in political section. Here are some of his threads:

    https://www.elitetrader.com/et/threads/anyone-can-be-a-millionaire-in-america-i-mean-anyone.350682/

    https://www.elitetrader.com/et/thre...-crime-out-of-wedlock-kids-free-stuff.351204/

    https://www.elitetrader.com/et/threads/we-want-this-in-the-white-house-not-that.350972/

    https://www.elitetrader.com/et/threads/trumps-strong-anglo-saxon-genes-will-keep-him-strong.350914/

    https://www.elitetrader.com/et/threads/covid-19-needs-to-attack-black-lives-matter.350811/
     
    #58     Oct 15, 2020
  9. Very eye opening, thanks for posting. Like everyone else, I knew it was a significant percentage, but I'm a little embarrassed to be ignorant of just how incredible the number is in reality. I don't know how much you've thought about this, but what kind of reduction in percentage terms do you think is possible without compromising the status quo in terms of military strength? Also, if you were in charge, would you change our strategy entirely? (e.g. cut back to 25% and not be concerned with being a supreme military power)
     
    #59     Oct 15, 2020
  10. Sig

    Sig

    There's actually not a lot of waste of that type. There are a bunch of us who like to think we're pretty smart and are pretty driven and work our ass off to make sure that doesn't happen. The real waste is in entire weapons systems that are purchased and then immediately put into mothballs. A good example is the C-27, which is basically a twin engine version of the C-130 transport aircraft. Air Force bought a fleet of 38 of them starting in 2008 and retired the entire fleet in 2012. A bunch of them hadn't even been built when they decided to cancel the program but they bought them anyway and just flew them from the factory direct to the mothball fleet. That was billions for the aircraft, billions for spare parts, and billions for training and infrastructure. Basically you could run every federal welfare and low income housing program for several years on that corporate handout to Lockheed Martin alone. There are dozens of those defense industrial complex corporate welfare giveaways going on at any given time across all the services. Often the services don't even want them, they get appropriated to serve whoever's getting paid off by LM and the rest and so the President can say he has a 500 ship navy.

    And that's before you step back and ask why we need to have a military so big that we spend more alone than the next 10 countries in the world combined, 8 of which are at least nominally our allies. Do we really need 11 carriers and the associated support ships, shore infrastructure, and air wings?

    As an aside, there never really were $1,000 hammers. There were weapons systems that had many thousands of components that were bid at a single topline price. That price is the basis on which contracts are won or lost. How the cost is allocated internally to each of the individual components in somewhat arbitrary and completely irrelevant. The defense industrial contractors got lazy in the 80s and just arbitrarily assigned prices so it looked like the hammer part of a billion dollar system cost $1,000 but something else was commensurately lower priced than you might think so it all evened out. No one ever did a "hammer contract" where they bought hammers in isolation for $1,000.
     
    #60     Oct 15, 2020
    Overnight likes this.