Dow futures climb 150 points after Biden defeats Trump for White House

[Dashinka 24,786]

7 hours ago, Orangesapples said:

Young people are also in favor of increasing taxes for the rich. So this will obviously bring revenue. 

Yeah, I always hear about targeted taxes, but for some reason tax increases always seem to hit the middle class as well.

[Cyberfx1024 7,980]

55 minutes ago, Dashinka said:

Yeah, I always hear about targeted taxes, but for some reason tax increases always seem to hit the middle class as well.

Well it all trickles down don't you know

[Dashinka 24,786]

1 minute ago, Cyberfx1024 said:

Well it all trickles down don't you know

The same folks that believe only the rich will pay higher taxes also believe corporations pay taxes.

[Nature Boy 2.0 8,381]

10 hours ago, Orangesapples said:

Young people are also in favor of increasing taxes for the rich. So this will obviously bring revenue. 

When you Increase taxes on business 2 things happen

 

That tax is passed on in higher prices

 

They look to move assets to places that dont tax them

[yuna628 9,712]

14 minutes ago, Nature Boy 2.0 said:

When you Increase taxes on business 2 things happen

 

That tax is passed on in higher prices

 

They look to move assets to places that dont tax them

Almost like a, dare I say it, Trump Tariff?! 😉

 

 

As someone libertarian minded, I look back at liberals and conservatives (especially conservatives that are busy being hypocrites on this) and think where exactly is the ceiling and how far do you want to keep going? The conservative answer seems to be keep spending like gangbusters, cut taxes but not enough to make a big impact, slap on tariff nonsense, cut programs while blaming the people that use them as if it is their fault the national debt is climbing, and not improve any infrastructure. Eventually taxes are going to be raised somehow, because it's not sustainable to pay for everything. The money has got to come from somewhere to get the debt in order. If we want to seriously fix the problems we have, it's going to cost money.

 

I don't know a single person in my circle thus far that benefited from any so-called tax cuts under the current administration.

[Dashinka 24,786]

47 minutes ago, yuna628 said:

Almost like a, dare I say it, Trump Tariff?! 😉

 

 

As someone libertarian minded, I look back at liberals and conservatives (especially conservatives that are busy being hypocrites on this) and think where exactly is the ceiling and how far do you want to keep going? The conservative answer seems to be keep spending like gangbusters, cut taxes but not enough to make a big impact, slap on tariff nonsense, cut programs while blaming the people that use them as if it is their fault the national debt is climbing, and not improve any infrastructure. Eventually taxes are going to be raised somehow, because it's not sustainable to pay for everything. The money has got to come from somewhere to get the debt in order. If we want to seriously fix the problems we have, it's going to cost money.

 

I don't know a single person in my circle thus far that benefited from any so-called tax cuts under the current administration.

As much as I would like to see the debt put in order, I don't think those in DC (both sides) care.  Like I mentioned earlier, we will hear punditry about the rising debt, but no one in DC is ready to start talking austerity in any sense of the word.  If everything Covid is going to be as bad as is being predicted, and Joe decides he need to push for a nationwide shutdown, there will be another multi-trillion dollar package pushed through the Congress.

[Steeleballz 7,550]

2 hours ago, Nature Boy 2.0 said:

When you Increase taxes on business 2 things happen

 

That tax is passed on in higher prices

 

They look to move assets to places that dont tax them

 

  Same things happen with tariffs, but some people were seeing tariffs being a good idea.

[Steeleballz 7,550]

2 hours ago, yuna628 said:

Almost like a, dare I say it, Trump Tariff?! 😉

 

 

As someone libertarian minded, I look back at liberals and conservatives (especially conservatives that are busy being hypocrites on this) and think where exactly is the ceiling and how far do you want to keep going? The conservative answer seems to be keep spending like gangbusters, cut taxes but not enough to make a big impact, slap on tariff nonsense, cut programs while blaming the people that use them as if it is their fault the national debt is climbing, and not improve any infrastructure. Eventually taxes are going to be raised somehow, because it's not sustainable to pay for everything. The money has got to come from somewhere to get the debt in order. If we want to seriously fix the problems we have, it's going to cost money.

 

I don't know a single person in my circle thus far that benefited from any so-called tax cuts under the current administration.

 

  Dang, I should have read a few more posts before I mentioned about tariffs. 

[Nature Boy 2.0 8,381]

1 hour ago, Steeleballz said:

 

  Same things happen with tariffs, but some people were seeing tariffs being a good idea.

Cept when countries have restrictive tarrifs on our goods but we allow them to dump cheap goods here it costs us jobs 

[Steeleballz 7,550]

7 minutes ago, Nature Boy 2.0 said:

Cept when countries have restrictive tarrifs on our goods but we allow them to dump cheap goods here it costs us jobs 

 

    Manufacturing moves primarily because of labor and wage costs, not tariffs. Trump's tariff's were about protectionism. Some industries saw benefit from that, and others suffered. The overall cost was mostly borne by US consumers and businesses.