CSNbbs

What a wonderful 30 minutes on the Fed. If we were actually tallying our debt and liabilities. Our debt would be 205 trillion. I could listen to Icahn all day. I'm going back and recording this. This is really good stuff.

(11-03-2015 04:56 PM)Machiavelli Wrote: [ -> ]What a wonderful 30 minutes on the Fed. If we were actually tallying our debt and liabilities. Our debt would be 205 trillion. I could listen to Icahn all day. I'm going back and recording this. This is really good stuff.

Dang obama.


He's worst than I thought.

We all see what's going on. We are spending .58 cents of every tax dollar on people older than 65. This is only going to get worse very fast.

Did he mention what part of that 205 trillion is the discounted unfunded liabilities of public sector pensions?

(11-03-2015 05:49 PM)Machiavelli Wrote: [ -> ]We all see what's going on. We are spending .58 cents of every tax dollar on people older than 65. This is only going to get worse very fast.

Why do you hate old people? Do you hate your parents too for getting SSA benefits?

Boys. A train wreck is approaching us. What it tells me. Expect interest rates to stay artificially low for the remainder of our lives. We won't see interest rates above 7.5%. I can't imagine them going over 5% to tell you the truth. The gvt has to keep interest rates low. They have to.

I suggest reading Mark Levins new book.

Your head will explode.

(11-03-2015 09:43 PM)Machiavelli Wrote: [ -> ]Boys. A train wreck is approaching us. What it tells me. Expect interest rates to stay artificially low for the remainder of our lives. We won't see interest rates above 7.5%. I can't imagine them going over 5% to tell you the truth. The gvt has to keep interest rates low. They have to.

Baby boomers need to start dying off - which they will starting in about 10 years or so.

Icahn had a great part on tax invertors too. Why aren't they talking about this? Pfizer is going to leave within a year if we don't do anything about it.

Why stay is the real question.

(11-03-2015 05:49 PM)Machiavelli Wrote: [ -> ]We all see what's going on. We are spending .58 cents of every tax dollar on people older than 65. This is only going to get worse very fast.

I'm 71. My current life expectancy is 84. My wife's is 87. There is an 18% chance either my wife or I will live to age 95. During those years, we will consume several million dollars of SSI and Medicare benefits.

Anyone under 50 is fu**ed.

(11-04-2015 08:12 AM)Machiavelli Wrote: [ -> ]Icahn had a great part on tax invertors too. Why aren't they talking about this? Pfizer is going to leave within a year if we don't do anything about it.

Here's what we can do. Lower the corporate tax rate. As an alternative, allow companies to repatriate profits earned overseas tax free.

By the way, you do know that if Pfizer domiciles in Ireland, they would be more likely to invest in plant and employment in the USA than if they are headquartered here?

(11-03-2015 05:49 PM)Machiavelli Wrote: [ -> ]We all see what's going on. We are spending .58 cents of every tax dollar on people older than 65. This is only going to get worse very fast.

That's family planning for you....

(11-04-2015 08:12 AM)Machiavelli Wrote: [ -> ]Icahn had a great part on tax invertors too. Why aren't they talking about this? Pfizer is going to leave within a year if we don't do anything about it.

So what do you do about it? That's the discussion that needs to be had.

What do you do? And how do you expect Pfizer (and others) to react?

Funny thing is for years we have been told that Businesses and jobs won't go away because of taxes.. Then when companies start picking up and leaving there is outrage...

"Congress Must Act Now, Pfizer Leaving America and Many More to Follow"

Congress could simply let them bring their off shore money to the US tax free.... Seriously it's that or having the money stay off our shores and perhaps even chasing the businesses away.

Corporations and large employers play the role of Boxer in our current Animal Farm. Lets work them hard, tax the hell out of them, until they can no longer be productive.

According to Icahn Ryan gets it and Schumer get it. He loves this country (not necessarily the people in it) and doesn't want to see this happening but says both sides hard right and hard left are idiots. His words. "Far right thinks they should be able to bring it in tax free and the far left thinks it should be taxed as it is today. We have to find a middle ground but neither side wants to work it out. the parties are beholden to their extremes.

(11-04-2015 10:57 AM)Machiavelli Wrote: [ -> ]According to Icahn Ryan gets it and Schumer get it. He loves this country (not necessarily the people in it) and doesn't want to see this happening but says both sides hard right and hard left are idiots. His words. "Far right thinks they should be able to bring it in tax free and the far left thinks it should be taxed as it is today. We have to find a middle ground but neither side wants to work it out. the parties are beholden to their extremes.

The problem is that the US tax rate is so much higher than other countries that they have a huge incentive to leave it overseas to begin with. If we lowered our corporate tax rate from 40% (when state taxes are rolled in) to 24% or so (about the world level), then the problem would go away. That's what both Bowles-Simpson and Domenici-Rivlin recommended, by the way, as a way to increase corporate tax revenues. They also recommended abandoning our worldwide tax system for a territorial one, like every other developed country has.

And yes, statutory tax rates do matter despite protests from the left. I know, US companies pay a much lower effective rate. But that's because they make their money overseas, and have it taxed there, instead of making it here.

The compromise solution is simple. You give democrats something by eliminating "loopholes" and you give republicans something by lowering rates, and you end up in a more growth-oriented stance. You do the same with personal taxes. Actually, the "loopholes" are pretty much on the individual side. Other than some blatantly special interest breaks with limited applicability, there aren't many "loopholes" on the corporate side. And you implement a consumption tax so that we get to charge "not a tariff" on all imports and rebate "not a subsidy" on all exports, just like every other developed country in the world. It's really not hard if you get past the partisan rhetoric.

We could learn a lot by looking at tax practices in other developed countries. They're probably not very close to what most of you think, and nowhere even remotely close to what the "1%" rhetoric suggests.

(11-04-2015 10:57 AM)Machiavelli Wrote: [ -> ]According to Icahn Ryan gets it and Schumer get it. He loves this country (not necessarily the people in it) and doesn't want to see this happening but says both sides hard right and hard left are idiots. His words. "Far right thinks they should be able to bring it in tax free and the far left thinks it should be taxed as it is today. We have to find a middle ground but neither side wants to work it out. the parties are beholden to their extremes.

I have to ask... what's wrong with bringing it in tax free? It does not then go into some giant mattress. It will find it's way into out economy via investment, salary, bonuses, or other spending which you can tax.

According To Icahn Bull you're one of the guys who is a problem. The companies don't even expect it to come in tax free and the Dems have to understand it's not going to come in under current rates. Both sides are held hostage by the extremes. I wonder if a flat tax of 10-15 percent would do it? Icahn wouldn't say but I do wonder where they think it should be.

Right I'm the problem because I want to make it *reallllllllyyyyyyy* easy for them to bring the money in (which is earned abroad) and have it injected into our economy...

Look I don't care if it's taxed at 5 or 10 or 0... I don't care so long as you acknowledge that as the tax rate goes up from zero so does the likelyhood that you don't see any of the money.