Our Next President?

[jk]

Re: Our Next President?

if howard schultz runs he will succeed in re-electing trump.

[thriftyandboringinohio]

Re: Our Next President?

if howard schultz runs he will succeed in re-electing trump.

He knows that good and well.

[dcarrigg]

Re: Our Next President?

He knows that good and well.

They will do anything to protect and defend their precious tax cuts. They are not patriots.

[touchring]

Re: Our Next President?

How about a cruise ship hospital?

[dcarrigg]

Re: Our Next President?

It's not a terrible idea, but you'd have to at least take it to international waters, and you'd risk the US shutting it down regardless. Dump it on terra firma on a constituent part of France and it's a bit tougher to shut down. Not impossible to apply pressure. But I imagine more difficult. The whole thing that makes it possible is that other countries negotiate prices, and the US lets providers and pharma charge whatever the hell they damned well please. So the same insulin that's 48 Euros in France or 25 dollarydoos in Australia might easily cost you 1,000% more in the US. And your anesthesiologist is always out of network and always wants a few grand. They lobbied hard to make it illegal for the government to negotiate and illegal to import from countries which can and to make it legal to price gouge at will. What's the market rate on a bullet in the chamber when the gun's cocked and pointed at you but whatever the guy with your life in his hands demands? So I figure they'd lobby hard to shut the boat down too. Ethics and oaths aren't going to keep these people honest.

[jk]

Re: Our Next President?

They lobbied hard to make it illegal for the government to negotiate and illegal to import from countries which can and to make it legal to price gouge at will.

billy tauzin came really cheap considering the money involved.

[vt]

Re: Our Next President?

"France briefly had a 75% rate a few years ago but it was scrapped in 2014 because it raised less revenue then anticipated"

Economist 2/3/19

Anytime you raise rates you have to consider what the negative consequences might be. Will you hurt business formation and thus limit good paying jobs that might provide more revenue?

As the Economist says "any change should be incremental". It's totally counterproductive to raise rates to real high levels overnight.

[dcarrigg]

Re: Our Next President?

May the Lord grant any of us the fortune of having to make the hard choice not to form a business because we already were earning over $10M in individual labor income per year and marginal tax rates simply made earning even more not worth our time.

[dcarrigg]

Re: Our Next President?

No doubt. The ROI on that one boggles the mind.

[vt]

Re: Our Next President?

If I labor at a job and come up with a better way to do so by starting my own business, I might just be reluctant if I see super high rates if I'm successful.

No one is speaking of those with a $10 million dollar income. Some of us look at those trying to better their lot in life and seeing that there is a move to
denigrate success. It's about penalizing someone who may have worked hard for years then achieves an income of say $400K because it's not fair to those
that didn't take the risk or do the work.

By the AOC's proposal will only raise $12 billion a year.

[dcarrigg]

Re: Our Next President?

So how much is fair? Is it as much per year as the average person makes if they work hard for 10,000 years? 100,000 years? Is any amount enough? Should we just make Bezos king, retire the republic, and be done with it?

I mean, the thing is, when rates were 70% in America, economic growth was higher, so I'm not totally sold on the idea the wheels would come off if Reagan's tax cuts were reversed.

[vt]

Re: Our Next President?

The Economist article says to raise rates over time, not all at once.

There is also a good article in the Wall Street Journal covering Warren's proposal and cautioning of how do you define wealth, and
looking at potentially better ways to reach revenue goals.

Meanwhile there are even key liberal Democrats wanting to be careful how to proceed:

https://theintercept.com/2019/02/05/...icare-for-all/

And why weren't any banksters tried after the 2008 meltdown? Why didn't Chris Dodd and Barney face inquiries over the real estate fraud
going through Fannie Mae and Freddie Mac, as well as banks and mortgage fraudsters.

We got in this mess because regulations were not being enforced. And this was Democrats and not just Republicans. They are all on the take.

[dcarrigg]

Re: Our Next President?

They shot up from 28% to 75% in one fell swoop in FDR's first term. They dropped from 70% to 28% in one fell swoop under Reagan. The Economist is full of people who don't understand the US political system. It's not a parliament. There's checks and balances. Nothing big happens. Until everything does. Incrementalism is not how it works.

[vt]

Re: Our Next President?

Governor Cuomo says New York taxes are uncompetitive:

https://taxfoundation.org/governor-c...uncompetitive/

The cap on property taxes for Federal taxes is hurting. But why should the middle class subsidize $1,000.000 plus homes?

The top 1% pays 48% of all New York taxes, and now some are leaving for lower tax states. Money moves to where is is
treated best.

[dcarrigg]

Re: Our Next President?

If low taxes and conservative government were the most important thing for business, Biloxi would be Manhattan by now.

Dave Koch's Tax Foundation might rank South Dakota as the best state for business, and New York at the worst, but at the end of the day, he's resting his head at 740 Park Avenue, not Main Street in Pierre. In fact, guess where the Tax Foundation was founded?