How economies collapse

[SunTrader]

Since the Prez we have was elected umm I mean selected by Putin after being a Reality TV Apprentice it's no wonder we have an Acting Sec of Defense, a soon to be new Acting Sec of Labor (thanks to Epstein scandal), Acting Sec of Homeland Security, Acting Press Secretary (actually Press Sec doesn't need Senate confirmation) but hey the revolving ... and revolving and ... revolving door helps NFP numbers. Meanwhile those who have lasted a paycheck or two are doing their best to stop tRump from doing his worst thankfully so I think we are good - if his expiration date comes before ours. Otherwise "Katy bar the door".

 

[tommo]

As an Englishman i look at America as still the last bastion of free market capitalism.. well I did up until Obama era. The way things are going now I really do fear for the economy of not just America but the west in general. There is a pressure from hard left parties that I don't think can be resolved without having them in power for a while and people learn that money doesn't fall from the sky it has to be earned.
America will always be a powerful economy but things like potentially doubling minimum wage killing off small and medium business and treating the big money earners as some how evil will make for some pretty turbulent times. Not to mention traders. If financial transaction taxes come in you can kiss goodbye to short term trades.

 

[tommcginnis]

without having them in power for a while and people learn that money doesn't fall from the sky it has to be earned.

THAT'S THE TRUTH, RIGHT THERE.

 

[SunTrader]

The truth is both parties are in the pocket of big business eliminating regs and taxes that effect only them. Lip service to rest and rest of us.

tRump ran on, among many bogus proposals, eliminating the carried interest deduction that Wall Street just loves. Got into office somehow that provision was left intact. Now how did that happen wink, wink.

The swamp has never been filled higher.

 

[tiddlywinks]

tRump ran on, among many bogus proposals, eliminating the carried interest deduction that Wall Street just loves. Got into office somehow that provision was left intact. Now how did that happen wink, wink.

An inconvenient FACT... it wasn't eliminated, but it was modified.
Your wording and idea of "left intact" appears to be an ideological thing.


As part of the Tax Cuts and Jobs Act of 2017 that dropped the corporate tax rate from 35% to 21%, Congress did put some limitations on tax breaks afforded to alternative investment managers. For instance, private equity firms and hedge funds must now hold an investment for at least three years before they qualify for the lower 20% capital gains rate. And companies now can deduct interest costs only up to 30% of EBITDA, until 2022. Under the old law there was no limit, which essentially allowed firms to heap huge amounts of debt on their investments and then benefit from what could be a significant tax write-off.

Trump campaigned to end the carried interest loophole altogether during his presidential run in 2016. But he ultimately claimed he opted to keep it as part of negotiations that lowered the corporate tax rate an additional two percentage points.

 

[SunTrader]

So you're saying it WASN'T eliminated. That's what I thought. Thank you for confirming it.

 

[easymon1]

Published on Oct 20, 2012

Jim Rickards: Currency Wars Simulation

 

[dheagerty]

"a loss of property rights " In the US it is called abuse of eminent domain.

https://ij.org/action/join-the-fight-to-stop-eminent-domain-abuse/

Would overtaxation be another method of "a loss of property rights" If the government keeps riasing your property taxes, it will eventually force you to turn them over.

 

[zdreg]

In theory yes. In reality no. It would take too long to confiscate property through increased taxation.

 

[tommo]

Would overtaxation be another method of "a loss of property rights" If the government keeps riasing your property taxes, it will eventually force you to turn them over.

Socialism is for the rich. They are the only ones that can afford it.
Once the middle class that are the obedient powerhouse of the country get fed up having their money and possessions stolen it doesn’t take much at all to get them voting against it.

Trump shows anything can happen when people say enough is enough. The media hate Trump because let’s face it, as a person, he is not particularly nice, unprofessional and impulsive. But a lot of his policies are strong. If America had a slick operator standing up for the over taxed and outsourced communities I think he would win by a landslide.