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RANT Laid off will get $2,400 per month on top of 100% of wages - WTF?

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100k

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That's actually not right either...

For every $1B that Walmart makes, about $760M is COGS. (Gross margins for Walmart are right about 24%.)

Of the remaining, $260M in gross profit, about $197M is expenses, and $63M is EBITDA. (Operating margins for Walmart are about 6.3%.)

So, assuming no expense write-offs and a 10% tax on gross profits, Walmart would pay about $26M in taxes, which would be about 41% of EBITDA.

That's a bit higher than the corporate tax rate prior to the 2017 Jobs Act (which was 35%), and about double what it is today, with the Jobs Act in place (now at 21%).
If you can't operate a business profitably without write offs, then you'll just have to close shop and start another type of venture... The market will correct it self.

If people REALLY value food, then they'll pay a little bit extra if that's the only way supermarkets can operate profitably.
 

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JScott

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You all forget the power of the printing press (aka some guy on a computer hitting buttons, who needs ink!). They can just print all the money they need to get through this and then worry about the currency later.
The currency printing press is actually a pretty reasonable tool in times like this...

Now that people are familiar with the idea of "flattening the curve," you can think of quantitative easing as essentially flattening the curve of economic contraction.

Without printing money right now, the economy would drop straight down, and may not recover in a reasonable period of time. With printing money right now, the economy is propped up, that massive drop can be avoided (or reduced), and that hit to the economy can be spread over a much longer time period during which the Fed -- HOPEFULLY! -- sells off assets and contracts the money supply.
 

JScott

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If you can't operate a business profitably without write offs, then you'll just have to close shop and start another type of venture... The market will correct it self.

If people REALLY value food, then they'll pay a little bit extra if that's the only way supermarkets can operate profitably.
So, we increase taxes on corporations with the necessary result being inflation for consumers?

Uh...who exactly benefits from this so-called "solution?"
 

Kak

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That's actually not right either...

For every $1B that Walmart makes, about $760M is COGS. (Gross margins for Walmart are right about 24%.)

Of the remaining, $260M in gross profit, about $197M is expenses, and $63M is EBITDA. (Operating margins for Walmart are about 6.3%.)

So, assuming no expense write-offs and a 10% tax on gross profits, Walmart would pay about $26M in taxes, which would be about 41% of EBITDA.

That's a bit higher than the corporate tax rate prior to the 2017 Jobs Act (which was 35%), and about double what it is today, with the Jobs Act in place (now at 21%).
Oh my god dude, it was simplified for the sake of argument. Why do you have to go around nitpicking everyone and pissing in everyone’s cheerios?

COGS are an expense that is typically considered by basically everyone ever as “written off.”

I didn’t consider annual inventory turnover or fixed expenses like labor and property either... I could have, but then my post would have looked like yours and it wouldn’t have clearly explained the point I was trying to make. Which WAS, if you eliminate being able to write off expenses, companies are screwed.

I found your new avatar:
3BC9315F-58A5-444F-AF4D-7F88739C3B16.png
 
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GPM

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If you can't operate a business profitably without write offs, then you'll just have to close shop and start another type of venture... The market will correct it self.
I am the government, and I say that business taxes need to be 80% so that we can have universal basic income? I also mandate a minimum wage for your employees, regardless of what they do or what you make. Oh whats that, you can't operate a business profitably with those requirements? Well we are the government so we need it anyways, go start something that you can be profitable with.
 

JScott

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Oh my god dude, it was simplified for the sake of argument. Why do you have to go around nitpicking everyone and pissing in everyone’s cheerios?
You included calculations in your post. Your calculations were off by literally an order of magnitude, leading you to a conclusion that was patently false:

A 200% tax on actual income.
If your conclusion were correct, a business literally could not survive under the model proposed. They'd be paying more in taxes than they earned, which doesn't make sense.

But, had you done the calculations correctly, you would have found that not only could the business survive, but that it would be paying taxes at about the same rate as three years ago!

Sorry (not sorry), but that's not nitpicking. That's your entire premise not being supported because you did the math wrong.

(And btw, I actually agree with you that the model proposed by the OP is horrible, but I don't agree with you based on your math. There are other reasons why I don't believe that model would work well.)


I didn’t consider annual inventory turnover or fixed expenses like labor and property. I could have, but then my post would have looked like yours and it wouldn’t have clearly explained the point I was trying to make.
Well, your ignoring literally 76% of the the businesses costs led you to making a point that was patently wrong -- you came to the conclusion that the business was going to pay more than it earned in taxes. Which, if true, was a refutation of the OP.

But, it turns out that the amount of taxes wasn't only less than it earned, but about the same as the business was paying a couple years ago. Which, in itself, is not a refutation of the OP.

In other words, the point you were making simply wasn't true.
 
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Kak

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You included calculations in your post. Your calculations were off by literally an order of magnitude, leading you to a conclusion that was patently false:



If your conclusion were correct, a business literally could not survive under the model proposed.

But, had you done the calculations correctly, you would have found that not only could the business survive, but that it would be paying taxes at about the same rate as three years ago!

That's not nitpicking. That's one of us being right and the other being wrong.

Much like the last thread where you were wrong and got angry at me for pointing it out, let me suggest you simply act like a grown up and admit you made a mistake.



Well, your ignoring literally 76% of the the businesses costs led you to making a point that was patently wrong -- you came to the conclusion that the business was going to pay more than it earned in taxes. Which, if true, was a refutation of the OP.

But, it turns out that the amount of taxes wasn't only less than it earned, but about the same as the business was paying a couple years ago.

In other words, the point you were making simply wasn't true.
Do you write off COGS @JScott ?

When you put nice new floors and cabinets in a flip house do you write those off against the top line margin you make on the house? Of course you do.

So what you did here was take numbers, created new assumptions just for the hell of it and and then proceeded to decide what was and wasn’t considered write off just to say “actually... you’re wrong kak.”
 

JScott

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Do you write off COGS @JScott ?

When you put nice new floors and cabinets in a flip house do you write those off against the top line margin you make on the house? Of course you do.
No, I don't "write off" COGS, and I don't know too many finance people who would talk about "writing off" COGS. The only time you write off COGS is when you are writing down inventory because it's damaged or otherwise unsold.

Write offs are typically in reference to reducing the value of an asset. But, when the term is more widely used to reference an accounting liability that reduces taxable income, it's is almost certainly meant to connote operating expenses (which again, COGS is not one).

Also note that COGS are accounted for in the Income section of the Income Statement, not the Expense section.

Here's a random image I found on Google of a template Income Statement (though they all look pretty much just like this):

31591

To quote the condescending comment you made to the OP in your original post:

This just shows a complete lack of economic literacy.
 

Kak

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No, I don't "write off" COGS, and I don't know too many finance people who would talk about "writing off" COGS. The only time you write off COGS is when you are writing down inventory because it's damaged or otherwise unsold.

Write offs are typically in reference to reducing the value of an asset. But, when the term is more widely used to reference an accounting liability that reduces taxable income, it's is almost certainly meant to connote operating expenses (which again, COGS is not one).

Also note that COGS are accounted for in the Income section of the Income Statement, not the Expense section.

Here's a random image I found on Google of a template Income Statement (though they all look pretty much just like this):

View attachment 31591

To quote the condescending comment you made to the OP in your original post:
It was an assumption based argument where I determined the assumptions before the scenario was figuratively played out.

MOST PEOPLE consider all deductible expenses a “write off” although it may be the informal treatment of the phrase “write off“ in reality. The op was most certainly using it in the informal sense. He OBVIOSULY wasn’t talking about “reducing the value of an asset.” I’m glad you can use google to find the root origin of the phrase to smugly correct all of us peasants though.

Using the widely accepted albeit informal meaning of the phrase “write off,” my example was correct.
 
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JScott

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It was an assumption based argument where I determined the assumptions before the scenario was figuratively played out.

MOST PEOPLE consider all deductible expenses a “write off” although it may be the informal treatment of the phrase “write off“ in reality. The op was most certainly using it in the informal sense. He OBVIOSULY wasn’t talking about “reducing the value of an asset.” I’m glad you can use google to find the root origin of the phrase to smugly correct all of us peasants though.

Using the widely accepted albeit informal meaning of the phrase “write off,” my example was correct.
So you stick by your original assertion that this model would result in the business paying more in taxes than it's earning?
 

Kak

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So you stick by your original assertion that this model would result in the business paying more in taxes than it's earning?
Yes. A thin margin, high volume, business that gets no write offs (informal yet widely accepted use of the phrase) would be screwed badly at any tax rate.

Unless you count zero, which knowing you and your nitpicking, you probably will.
 

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JScott

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Yes. A thin margin, high volume, business that gets no write offs (informal yet widely accepted use of the phrase) would be screwed badly at any tax rate.

Unless you count zero, which knowing you and your nitpicking, you probably will.
I ran the numbers for Walmart using their 4Q19 financial data above, and got a result that indicated they would be paying about the same amount of taxes as they did prior to 2017. Which, given that Walmart seemed to be doing okay back then, saying that this wouldn't "screw" them.

Can you point out where my numbers were wrong?
 

biophase

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Yes. A thin margin, high volume, business that gets no write offs (informal yet widely accepted use of the phrase) would be screwed badly at any tax rate.

Unless you count zero, which knowing you and your nitpicking, you probably will.
I’m still confused as to what a write off is.

I certainly don’t count expenses or COGS as a write off? I also don’t know what @100k meant in his original statement about businesses shouldn’t be in business if they can’t write off stuff.

View: https://youtu.be/rCZRqH7sRyA
 

MitchC

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So we should give everyone free everything but money! But not money though! Thats where we draw the line.

Also:



There fixed it for ya.

I really cant tell if this is a troll, but if it's not, I suggest you do your research on these topics. Because it sounds cute when politicians say it and every one cheers in the crowd, but 5 minutes of critical thought would lead you to the conclusion that money and funding has to come from somewhere, and the government isn't some benevolent entity that is selfless, they steal collect that money from you in the form of taxes to fund all this "free" shit.

The government doesn't give a F*ck about you. The government doesn't have your best interests in mind. Politicians only have their own interests in mind.


You can ignore the parts about corona virus, but the message about the Chinese vs the US healthcare system is still relevant.
Not really sure what your point is with that article but if that guy thought having the opportunity to almost bankrupt himself because his daughter had a seizure was amazing because the hospital was clean and he could get a second opinion and a skilled surgeon, wait till he finds out we get all of that and more in aus, nz and probably most of Europe, without going bankrupt.

You guys in the USA honestly have no idea how F*cked your healthcare system is.

Have a look at how much of govt tax money in those countries goes on healthcare, it’s really not as expensive as you think because the govt owns the hospitals and doesn’t charge itself $1200 for 2 Panadol.

Want to know the best part? You can still get private health insurance and use private hospitals if you want to. Oh and the government will refund you the % of your tax that was for healthcare if you do. If your income is high, making that number of tax high, it becomes cheaper to get private health insurance.

I love atlas shrugged and believe the world should be run like the gulch or whatever it’s called but yeah, we have it pretty F*cking good in Australia.

I don’t know how you guys live knowing you’re one accident away from going bankrupt. How could you possibly think paying $600 a month for health insurance is better than paying about $1000 a year in aus or a bit more tax if you have a low income.

I go to the doctor all the time I don’t even think about it it costs basically nothing. I got tested the other week for corona virus because I had a bit of a sore throat and a cough and paid nothing. You guys have people who can’t afford to get tested and treated during a pandemic what the F*ck man that affects everyone not just the poor people who can’t afford it.
 

Kak

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I ran the numbers for Walmart using their 4Q19 financial data above, and got a result that indicated they would be paying about the same amount of taxes as they did prior to 2017. Which, given that Walmart seemed to be doing okay back then, saying that this wouldn't "screw" them.

Can you point out where my numbers were wrong?
Walmart is honestly inconsequential to the discussion at hand. For the sake of discussion, I laid out a set of assumptions and named it Walmart. I didn’t go looking for their financials. I didn’t run an analysis. I just said for the sake of discussion let’s assume thin 5% margins. The 95% includes everything expense wise. A simple revenue minus expense equals profit discussion. I was close too! You came up with 6.3%!

Since I was operating under the very well accepted assumption that “write off,” in most people’s mind (including the op) equals deductible expenses. Earning a billion dollars and having no ability to deduct any expenses whatsoever creates a tax on the top line when the company in question (doesn’t really have to be Walmart) only really profited 5%.

In fact, under the OPs plan... Some companies, those that run in the red, would be taxed without making a before tax profit at all!

I guess my apologies again for naming it Walmart. For crying out loud. You had to see where I was going with this. You are a smart guy. This is ridiculous man. You and I have had our scuffles over the years and I have always thought there was some level of mutual respect; but this is absurd. You know I’m not posting out of my a$$ when I post. I have experience and education. This isn’t my first rodeo. I’m not intentionally misleading and your treating me as such pisses me off.

This is from turbotax.com:

B8951D6E-3869-47DE-85FE-7F622DAC7E78.jpeg

In my example at your 6.3% they have a before tax profit of 63 million and still pay 100-150 million in taxes at OPs 10-15% tax rate. An effective tax rate of over 100%.

Claiming I am “off by an order of magnitude” and “patently false“ was ridiculous and completely incorrect. My blindfolded guess on assumptions was 1.3% away from Walmart’s real numbers. This begs the question... Why did you do this? Did you go looking for a fight? Who the hell doesn’t know what a write off is?

Even the guy we are talking about knows what a write off is... And he is still wrong...

Businesses try to write everything they can off.... spend $50k taking clients out to fancy dinner at upscale restaurants or the super-bowl.... They find a way to write that off. Just things like that.

I'd basically get rid of all the tax loopholes.... just pay your goddamn 10% ... no write offs on ANYTHING.
What do you mean by anything. I mean ANYTHING and EVERYTHING that corporations can write off today to lower their tax liabilities.
My point so obviously proven I don’t know what else to say.
 
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spreng

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Not sure if anyone was watching this, but the stimulus bill the Senate just passed last night for the Coronavirus included a provision that unemployment filers will get their full pay PLUS $600 a WEEK.

Thats right. They will be making $2,400 a month PLUS unemployment. If you live in a federal min wage state, a full time unemployed min wage worker will be raking in $22 an hour or $3,500 a month, for 4 months.

dang people who get laid off are going to start making more then me when I dont sell anything because the market is so trash
 

100k

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I’m still confused as to what a write off is.

I certainly don’t count expenses or COGS as a write off? I also don’t know what @100k meant in his original statement about businesses shouldn’t be in business if they can’t write off stuff.

View: https://youtu.be/rCZRqH7sRyA
Businesses try to write everything they can off.... spend $50k taking clients out to fancy dinner at upscale restaurants or the super-bowl.... They find a way to write that off. Just things like that.

I'd basically get rid of all the tax loopholes.... just pay your goddamn 10% ... no write offs on ANYTHING.
What do you mean by anything. I mean ANYTHING and EVERYTHING that corporations can write off today to lower their tax liabilities.

So, we increase taxes on corporations with the necessary result being inflation for consumers?

Uh...who exactly benefits from this so-called "solution?"
Increase ? From what 0? Most of these giant corporations find creative ways to pay almost NOTHING in corporation tax. I think a 10% tax on all profits (perhaps turnover) is reasonable.

Also private people should not be able to write anything off either (i.e no tax deductibles for paying your mortgage or donating something to a charity).

It might not have such a big impact as you think... things might just cost you 20% more... BUT you don't need to worry about paying $400/month on health care plans, or having to go into debt to send your kids to college. We'd all be better off.

This:

View: https://www.youtube.com/watch?v=j0Z_fODM5gE


Beats this:

View: https://www.youtube.com/watch?v=DCCIY0JVeUQ


View: https://www.youtube.com/watch?v=KHquXGiTRTU


Again, I direct you guys to scandinavian nations - that somehow manage to give FREE health care, free dental, free maternity leave, free k-9 and free college/university/technical college/vocational schooling to its citizens WITHOUT it turning into Venezuela as some of you fear.

In fact many of those nations are doing much better, are way more equal and the people are much happier than in nations where those things don't exists - despite people & corporations having to pay a little bit more in taxes.
I am the government, and I say that business taxes need to be 80% so that we can have universal basic income? I also mandate a minimum wage for your employees, regardless of what they do or what you make. Oh whats that, you can't operate a business profitably with those requirements? Well we are the government so we need it anyways, go start something that you can be profitable with.
False dichotomy. I never said anything about 80% in taxes. I said 10-15% taxes - without write offs / loopholes for corporations or private citizens.

Also, if you are the government and you believe that will work - then you have the right to implement that if your voters want it, but if the system doesn't work then you'll be forced to change things because the voters will demand it or the tax revenues will demand it.

Point is, there's a way to make it work (i.e Scandinavian nations - not that they are perfect). But let's not pretend that America's system is perfect and it can't be improved upon. I'm trying to find ways to improve on it and I was just sharing some of my suggestions based on what I know. Nothing less, nothing more.

I guess I'm a bit of a dreamer.

View: https://www.youtube.com/watch?v=9-ZB2O8azI8
 
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amp0193

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Again, I direct you guys to scandinavian nations
I love the culture/system they have in place. I've spent 2 summers there and you can see the impact it has on quality of life.

I don't know enough about their taxation policies, etc. to contribute to the argument here.

Just saying that I like the end result for society.


I also don't mind the government sending out checks right now. It'll make a real difference to families in this wild and rapid unemployment scenario, and prevent civil unrest.
 
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Rivoli

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Businesses try to write everything they can off.... spend $50k taking clients out to fancy dinner at upscale restaurants or the super-bowl.... They find a way to write that off. Just things like that.

I'd basically get rid of all the tax loopholes.... just pay your goddamn 10% ... no write offs on ANYTHING.
What do you mean by anything. I mean ANYTHING and EVERYTHING that corporations can write off today to lower their tax liabilities.


Increase ? From what 0? Most of these giant corporations find creative ways to pay almost NOTHING in corporation tax. I think a 10% tax on all profits (perhaps turnover) is reasonable.

Also private people should not be able to write anything off either (i.e no tax deductibles for paying your mortgage or donating something to a charity).

It might not have such a big impact as you think... things might just cost you 20% more... BUT you don't need to worry about paying $400/month on health care plans, or having to go into debt to send your kids to college. We'd all be better off.

This:

View: https://www.youtube.com/watch?v=j0Z_fODM5gE


Beats this:

View: https://www.youtube.com/watch?v=DCCIY0JVeUQ


View: https://www.youtube.com/watch?v=KHquXGiTRTU


Again, I direct you guys to scandinavian nations - that somehow manage to give FREE health care, free dental, free maternity leave, free k-9 and free college/university/technical college/vocational schooling to its citizens WITHOUT it turning into Venezuela as some of you fear.

In fact many of those nations are doing much better, are way more equal and the people are much happier than in nations where those things don't exists - despite people & corporations having to pay a little bit more in taxes.


False dichotomy. I never said anything about 80% in taxes. I said 10-15% taxes - without write offs / loopholes for corporations or private citizens.

Also, if you are the government and you believe that will work - then you have the right to implement that if your voters want it, but if the system doesn't work then you'll be forced to change things because the voters will demand it or the tax revenues will demand it.

Point is, there's a way to make it work (i.e Scandinavian nations - not that they are perfect). But let's not pretend that America's system is perfect and it can't be improved upon. I'm trying to find ways to improve on it and I was just sharing some of my suggestions based on what I know. Nothing less, nothing more.



I guess I'm a bit of a dreamer.

View: https://www.youtube.com/watch?v=9-ZB2O8azI8
Nah I don’t like big government. Just roads, police and firefighters. ill do the rest on my own
 

biophase

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Businesses try to write everything they can off.... spend $50k taking clients out to fancy dinner at upscale restaurants or the super-bowl.... They find a way to write that off. Just things like that.

I'd basically get rid of all the tax loopholes.... just pay your goddamn 10% ... no write offs on ANYTHING.
Ok but how do you draw that line? I have to go to a business conference in Florida. Is the plane ticket and hotel an expense? Can I fly first class or only economy?

Is the food an expense? Do you put a limit on what restaurant is ok and what is upscale?

Is uberX ok but not Uber black?

These are legitimate business expenses.
 

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There fixed it for ya.

... I suggest you do your research on these topics. Because it sounds cute when politicians say it and every one cheers in the crowd, but 5 minutes of critical thought would lead you to the conclusion that money and funding has to come from somewhere
Where is the value going to come from? Money is a function of the result of value, which the value (V) today is backed by hours of labor (T) (When you buy a product in a store, that's still spending value to save time in some way some how).

If it is to be considered unethical to dilute other peoples value (printing money without creating value to match) and to take a percentage of someone elses production or results of production (taxing income or assets), no matter how small the percentage is. Where is the value going to come from? Where can value come from without sucking value from someone or an unwilling organization (whether that organization be a class of people, group of businesses, groups of people in other countries).

The value has to come from somewhere. Ask yourself 100k, Where can value reliably and ethically be produced to transfer the value to individuals you would like to see have access to consume that value without having to produce that value for themselves First. Come up with a way for value to come from virgin value and not recycled or siphoned value. I think we have a great book that we talk about on this forum that detailes a stellar way to create virgin value.

100k, if you want the 'rationally equal access to oppourtunity society' you envision; you're going to need a source of value that is something other than an extortion process.

If the Scandinavian model is so good and the best system to assure the greatest percentage of whole, healthy people as many seem to imply it is - why isn't the Scandanavian model the #1 most used system of governance, like capitalism is the #1 most used system of mutualism?

I am not intending to light a political debate. This thread is discussing philiosophy, or at least I interpret this thread as discussing philiosophy. I am bringing up these questions because someone is saying this Scandinavian model to be a better way to civilization and pointing to anecdotal evidence where it's truthfullness is an unknown quantity. If I am doing something wrong please let me know, I can't fix it if I don't know it exists.

And for me; when I think of the Scandinavian governance model, What I keep wondering is. Is. If their system is sooo much better, why aren't they a global superpower for self-actualization, the reason we are all here.
 
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Roli

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Correct. It’s much easier (and less expensive) to keep a Corp above water than pay the salaries of each employee, and then just lose the Corp anyway.
Ah neoliberalism at its finest. F*ck the individual, keep the company going at all costs.
 

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Ah neoliberalism at its finest. F*ck the individual, keep the company going at all costs.
Not saying it’s right, I’m saying that that’s what happens.

I’m the government and I have $1 billion in stimulus to give out. I can give it to a company that employs 100k people, or I can give a check of $10k to 100k unemployed people.

That’ll last a family of four what, 6 months?

And after those 6 months you have 100k unemployed people, no company, and no production.

What about the companies suppliers who’s biggest client just went under?

and the water ripples outward...

I think the problem most people have with bailouts is when assholes take it as a bonus or salary bump, which I think this stimulus bill tries to protect against.
 

sonny_1080

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Trump make himself look like hero - ok.
People are helped in crisis - ok.
Printing $2 trillion - not ok.*

*Question to more knowledgeable: do they print it or get it from somewhere else?
The first thing The Federal Reserve did in response to coronavirus economic fears was slash the Discount Rate to 0%. This is the amount it costs commercial banks to take a loan from the Federal Reserve. The result of this decrease is making loans cheaper so the banks can borrow more money -> so they can lend more money at a cheaper rate -> to hopefully incentivize people like us to borrow business loans, real estate loans, etc. -> the Fed's purpose in doing this is to stimulate the economy since it was (and is) coming to a screeching halt.

When you hear "the Fed lowered rates", know that what they mean is that they've lowered the target rate... and it's the BANKING MARKET that determines the actual rate. The Fed doesn't just dictatorially say this is what it is now (even though thats what it sounds like). Whats really happening is the Fed has now set a target (at 0%) and while the banking market determines the actual rate, the Fed adjusts the money supply to reach the target.

Macroeconomics focuses on the M2 money supply metric. When lowering interest rates to banks, the Fed is increasing the money supply because there is more incentive to borrow cash -> thus, more cash is put into circulation -> in order to keep up with the demand for cash, the Fed increases the supply by printing money -> this increases inflation (the value of a dollar decreases) -> our exchange rate is going to go down -> suggestion: buy foreign currency now.

America can still borrow money from other countries so we don't have to rely on just printing. Thats good, otherwise our inflation would increase much quicker. The way they borrow money is by issuing treasury bonds -> that are bought by investors, other nations banks, etc.

The influx of cash the fiscal (government) policy will need for this new plan will come from both borrowing and printing.

I haven't been keeping up with it as much as I should be. I should find out how long the money supply has been contracting for before the Fed slashed rates.
 

Roli

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That’ll last a family of four what, 6 months?

And after those 6 months you have 100k unemployed people, no company, and no production.
...or they are secure in that 6 months, and use that time to find new jobs without worrying that they are about to lose their homes.

Because let's face it, those companies that are bailed out are still going to have mass layoffs.
 

PizzaOnTheRoof

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...or they are secure in that 6 months, and use that time to find new jobs without worrying that they are about to lose their homes.

Because let's face it, those companies that are bailed out are still going to have mass layoffs.
Finding new jobs during a pandemic and recession?

6 months is extremely optimistic.
 

Everyman

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ksee

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Not sure if anyone was watching this, but the stimulus bill the Senate just passed last night for the Coronavirus included a provision that unemployment filers will get their full pay PLUS $600 a WEEK.

Thats right. They will be making $2,400 a month PLUS unemployment. If you live in a federal min wage state, a full time unemployed min wage worker will be raking in $22 an hour or $3,500 a month, for 4 months.

Actually what makes this even more off the f'n wall, is that the way it is worded, an employee could actually QUIT to obtain benefits......I hope this is amended quickly before I have to compete with $1050 a week (Texas unemployment avg $450 + fed $600) of "couch money" vs. what they make actually working for me. Interestingly, the Dems came up with $600 per week (40 hours x Their biggest want....$15 an hour).
 

hellolin

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Businesses try to write everything they can off.... spend $50k taking clients out to fancy dinner at upscale restaurants or the super-bowl.... They find a way to write that off. Just things like that.

I'd basically get rid of all the tax loopholes.... just pay your goddamn 10% ... no write offs on ANYTHING.
What do you mean by anything. I mean ANYTHING and EVERYTHING that corporations can write off today to lower their tax liabilities.


Increase ? From what 0? Most of these giant corporations find creative ways to pay almost NOTHING in corporation tax. I think a 10% tax on all profits (perhaps turnover) is reasonable.

Also private people should not be able to write anything off either (i.e no tax deductibles for paying your mortgage or donating something to a charity).

It might not have such a big impact as you think... things might just cost you 20% more... BUT you don't need to worry about paying $400/month on health care plans, or having to go into debt to send your kids to college. We'd all be better off.

This:

View: https://www.youtube.com/watch?v=j0Z_fODM5gE


Beats this:

View: https://www.youtube.com/watch?v=DCCIY0JVeUQ


View: https://www.youtube.com/watch?v=KHquXGiTRTU


Again, I direct you guys to scandinavian nations - that somehow manage to give FREE health care, free dental, free maternity leave, free k-9 and free college/university/technical college/vocational schooling to its citizens WITHOUT it turning into Venezuela as some of you fear.

In fact many of those nations are doing much better, are way more equal and the people are much happier than in nations where those things don't exists - despite people & corporations having to pay a little bit more in taxes.


False dichotomy. I never said anything about 80% in taxes. I said 10-15% taxes - without write offs / loopholes for corporations or private citizens.

Also, if you are the government and you believe that will work - then you have the right to implement that if your voters want it, but if the system doesn't work then you'll be forced to change things because the voters will demand it or the tax revenues will demand it.

Point is, there's a way to make it work (i.e Scandinavian nations - not that they are perfect). But let's not pretend that America's system is perfect and it can't be improved upon. I'm trying to find ways to improve on it and I was just sharing some of my suggestions based on what I know. Nothing less, nothing more.



I guess I'm a bit of a dreamer.

View: https://www.youtube.com/watch?v=9-ZB2O8azI8

I swear the god if my money ever got taken out to bail those guys out who borrowed money so they can have their dream job of registering voters.....Your dream is not my responsibility, stop punishing those who were wise beyond their years and did the right investment decision at the right time.
 

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