Politics It's the economy, stupid! Gas, healthcare, & chickens! (1 Viewer)

[Phatguysrule]

I'd have thought the solution to any homelessness in Finland would be "winter".

barfo

Unfortunately I guess it's a bit more complicated than that!

 

[julius]

View attachment 82475

That has to be wrong, I was told it was Biden who raised inflation and made things worse.

 

[SlyPokerDog]

Links:

FED SHOCK: ZERO JOB CREATION IN PRIVATE SECTOR!

'Nonexistent growth in labor force, which we've never had in our history'...

US economy not strong enough to cope with Iran crises...

 

[Phatguysrule]

Links:

FED SHOCK: ZERO JOB CREATION IN PRIVATE SECTOR!

'Nonexistent growth in labor force, which we've never had in our history'...

US economy not strong enough to cope with Iran crises...

Shit. Finding a decent job doesn't seem to be getting easier any time soon...

 

[SlyPokerDog]

 

[SlyPokerDog]

A Pound of Ground Beef Now Costs More Than the Federal Minimum Wage

 

[SlyPokerDog]

We
Are
So
Fucked!

Yesterday, a failing shoe company, Allbirds, stock price under $3 per share.
Today, they sold everything off and then announced, they're no longer a shoes company. But instead, they are now an AI company.
Their stock went up 582% in one day.

Struggling shoe retailer Allbirds makes bizarre pivot to AI, adds $127 million in value

Allbirds announced a deal with American Exchange Group to sell its intellectual property and other assets for $39 million in March.

www.cnbc.com

 

[Phatguysrule]

 

[Phatguysrule]

Dave VerMerris-

The middle-class is at severe risk.
The Wealth Gini Coefficient is currently at 0.84—its highest level since 1929.

For those unfamiliar with the Gini Coefficient, it is a numerical measure of wealth inequality ranging from 0.0 to 1.0.

At 1.0, one person owns 100% of a nation’s wealth…. While on the other side of the spectrum, 0.0 means everyone has an exact same share of wealth.

At 0.9, the middle-class effectively ceases to exist.

At 0.8, the middle-class struggles to make ends meet.

When the wealth Gini coefficient is BELOW 0.5, you face economic stagnation, there is minimal incentive for innovation or investment, and quality of life declines.

For a capitalist democratic-republic like ours, the sweet spot is between 0.6 and 0.75 (highlighted in green).
In this range, there is:
- a healthy middle-class
- strong investment incentive
- high economic mobility
- a broad tax base
- political stability

Progressive policies (New Deal, banking regulations, marginal tax rates, etc.) tend to move the Gini Coefficient down at a steady rate.

Conservative policies (Reaganomics, banking deregulation, tax loopholes, etc.) tend to move the Gini Coefficient up at a rapid rate.

So if you’re ever curious why post-Reagan Republicans campaign on “culture war” issues…. It’s simply because they need middle-class voters to support policies that actually harm the middle-class.

The “Golden Age of Capitalism” (late 1940s through early 1970s) was fueled by the highest MARGINAL tax rates. This incentivized corporations to reinvest profits into new plants, more employees, and higher wages… the middle-class thrived, had more disposable income, and thus spent more— turning the economic wheel forward.

Today, the same policies that made the middle-class strong are being labeled as “Communist” by people who don’t understand what Communism is.

And who funds the disinformation meme campaigns you all share every day in The Political Debate? The billionaire class that seeks to profit off your ignorance.



Saw this on Facebook . Couldn't believe it was so well written and reasoned.

 

[Phatguysrule]

Sounds like a great argument that minimum wage should start at $174,000 per year...

I mean, people have to be able to support their families...

 

[SlyPokerDog]

Sounds like a great argument that minimum wage should start at $174,000 per year...

I mean, people have to be able to support their families...

But only if they agree not to trade stocks.

 

[SlyPokerDog]

 

[Phatguysrule]

Hopefully by choice... But we're going to need to get some regulations enacted first...

 

[Phatguysrule]

 

[Phatguysrule]

3 minute charge on electric cars. Greater range than we can buy in the US and safer as well.

Chinese electric cars are far better than any car we can buy in the US, and half the price.

But we aren't allowed to buy them.

If this is legit, under Trump the US has ceded the EV market (and possibly the future) to China so his rich buddies can continue robbing us blind in both dollars and natural resources while destroying our ecosystem.


Read More

 

[Chris Craig]

And how is that family going to make up for that lost income?

 

[Chris Craig]

Sounds like a great argument that minimum wage should start at $174,000 per year...

I mean, people have to be able to support their families...

50% of the House and 73% of the Senate are millionaires. Spare me the BS that they can't afford to take care of their families.

 

[riverman]

50% of the House and 73% of the Senate are millionaires. Spare me the BS that they can't afford to take care of their families.

yeah but what about their LOVER'S families! How will they relieve stress over lunch breaks and pay for their lover's penthouse?

 

[Chris Craig]

yeah but what about their LOVER'S families! How will they relieve stress over lunch breaks and pay for their lover's penthouse?

To them I say...

 

[Phatguysrule]

 

[Phatguysrule]

Providence to end most health insurance plans, forcing hundreds of thousands in Oregon to switch



Providence Health & Services will stop offering most insurance plans through Providence Health Plan as the Catholic health system works to stabilize its finances and refocus on delivering care. Pictured is Providence Office Park, which houses the Catholic not-for-profit's regional headquarters in Oregon.Providence Health & Services Oregon

Providence Health & Services plans to exit most of its Oregon health insurance business next year, citing rising costs, tougher regulation and intensifying competition from national insurers — a move that will force hundreds of thousands of Oregonians to find new coverage. Leaders of the Renton, Washington-based health system announced the decision Wednesday, saying Providence will stop offering most plans through Providence Health Plan, including individual, family and employer coverage, as it seeks to strengthen its financial footing and refocus on delivering care rather than operating an insurance arm. Providence Health Plan, based in Portland, is Oregon’s third-largest health insurer, covering more than 421,000 Oregonians. It also covers over 13,000 members in Washington and 4,800 in California. It sells commercial, individual, small group and Medicare Advantage plans. The plan employs nearly 1,200 people across six states, including 878 in Oregon. Most members will keep their current coverage through the end of 2026, giving employers and policyholders time to transition. Providence said it will stop renewing employer group plans as contracts expire but will honor existing agreements. Providence leaders said hospitals and clinics will stay open to patients regardless of insurance changes and that the system is working to join additional insurance networks so patients can continue seeing Providence doctors under new plans. They said brokers will help employers find replacement plans that include Providence doctors and facilities.

Read More

 

[Phatguysrule]

Path to Universal Healthcare in Oregon — HCAO - Health Care for All Oregon

www.hcao.org

 

[SlyPokerDog]

 

[SlyPokerDog]

ExxonMobil VP issues stark warning on energy prices in coming weeks

An Exxon chief is warning of skyrocketing energy prices as shareholders approved a plan for the company's corporate structure to relocate from New Jersey to Texas.

www.fox9.com

ExxonMobil's Senior Vice President Neil Chapman issued a stark warning to the public that energy prices may explode upwards in the coming weeks on the same day his company's board approved moving the company's corporate structure from New Jersey to Texas.

Speaking at the Bernstein Conference in New York on Thursday, Chapman warned that crude oil prices could go as high as $160 per barrel in the coming weeks as dwindling reserve inventories finally bottom out.

"We're approaching unheard of inventory levels," he said. "I mean really, really low levels. You can debate whether that's going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you'll see prices shoot up."

 

[SlyPokerDog]

 

[Phatguysrule]

1 million seconds = 11.574 days
1 billion seconds = 31.71 years
1 trillion seconds = 31,709 years

With $1 trillion a person could give every homeless American $1 million, and still have $228 billion left over.

With a fortune of $228 billion this person would be the 6th wealthiest person in America.

 

[SlyPokerDog]

Tesla, his biggest company - around $45b net lifetime profit over its existence

SpaceX, his second biggest company - $0 net lifetime profit over its existence

Starlink, his third biggest company - $4b net lifetime profit over its existence

Twitter, his fourth biggest company - $0 net lifetime profit over its existence

Boring Co, Neuralink, misc. junk drawer companies - $0 net lifetime profit over its existence

The entirety all of the money that his companies have actually made since they existed is around 4% of his net worth.

On top of that, most of his companies, like Twitter and Boring Co, Neuralink and others actually operate at a heavy loss, so it's likely even less than 4%

 

[Phatguysrule]

In response to the argument that a wealth tax on billionaires would tank the economy

Wiki: How to tax the superrich (with pictures)​

The extreme wealth of the superrich is making our economies insecure and poorer than the sum of their parts.
Our economies were designed to let people earn the wealth they need to lead secure and comfortable lives, but our tax rules make it easier for the superrich to collect wealth than for the rest of us to earn it. This has let the superrich collect extreme wealth to the point where our economies are less productive, more households are having to go into debt and people are living shorter lives.
Wealth taxes are the best tool for putting an end to the two-tier tax treatment that puts people who collect wealth for a living (ie those who mainly live off of huge dividends and rent money they collect) above those who earn wealth for a living (ie those who mainly live off of income they earn from working). We need wealth taxes to make our economies secure and protect the earner way of life that has defined the modern era.
Countries can straightforwardly follow the example of Spain’s successful and modest wealth tax today to raise $2 trillion in tax from the world’s richest 0.5%.
Here’s our step-by-step guide on how to tax the superrich.

Steps​

1. Set a high bar for wealth and only tax wealth that’s above the bar
Setting a high threshold – like the top 0.5% wealth – means any wealth a person owns below this threshold does not get taxed. This makes sure the wealth tax only applies to the superrich, and doesn’t negatively impacts the middle and lower classes. It also means the very wealthy individuals to whom the tax does apply would only pay tax on the upper crust of their wealth – that is, on the portion of their wealth above the 0.5% threshold. For example, in Switzerland, a 0.5% threshold stands at US$11 million. A wealth Swiss person would only be taxed on the wealth they own above US$11 million. Their first eleven millions would not be taxed. A high threshold makes the administration of wealth tax simple for governments and more politically feasible.
Step 1 image credit: wikiHow

2. Apply the tax to all types of wealth to prevent the superrich from cheating on tax
Exempting certain types of wealth from the tax creates an opportunity for the superrich to abuse. They can shift their assets into exempted categories to pay less tax. This shifting isn’t only bad economics — since wealth goes to where tax dues are lowest rather than where they’re most productive — it also complicates implementation, making a lot more costly work for tax authorities. By applying the wealth tax to all asset classes above the high threshold, governments can prevent inefficient investments and curb the wiggle room for tax abuse. If you’re a government and you’re concerned about the potential impact of applying the tax to business assets, don’t worry, we’ll explain how to handle this in step 6 below.
Step 2 image credit: wikiHow

3. Exercise robust transparency on owners of companies and assets, to tax the right amount
When governments apply income tax, they don’t rely alone on what people self-report. They use official records to verify how much a person earned and ought to be taxed. Otherwise, folks can underreport to underpay tax. Wealth taxes are no different. But the problem is the owners of companies and assets can cover the paper trails linking them to what they own. The best tool for exposing these paper trails are public registers on beneficial (ie true) owners. These registers provide detailed information on who truly owns and controls companies and assets, equipping governments with the official records they need to verify how much wealth a person has and how much tax they should pay.
Step 3 image credit: wikiHow

4. Strengthen transparency standards at the UN so that the superrich rich can’t hide wealth in tax havens
The strength of countries’ tax laws ultimately depends on our global tax transparency standards. The superrich’s ability to use secrecy jurisdictions — a type of tax haven that specialises in hiding finances from other countries’ laws — to hide their wealth from tax administrations can keep wealth taxes from being fully effective. To make wealth taxes truly effective, countries must make sure the UN tax convention currently being negotiated delivers robust tax transparency standards.
Step 4 image credit: wikiHow

5. Put in safety measures to make sure superrich individuals relocating to other countries still pay what they owe
Evidence shows that apply wealth tax to the superrich does not lead to the superrich fleeing the country in droves, despite media headlines claiming the contrary. Just 0.01% of the richest households relocated after wealth tax reforms targeting them were implemented in Norway, Sweden and Denmark. But just to be safe, governments can put in place measures to make sure a long-time resident superrich individual still pays the wealth tax they owe even if they move abroad. For example, governments can introduce a tax obligation on former residents for a specified period after they move abroad, or implement exit taxes on individuals who renounce their residency. It’s worth noting that if other countries also introduce wealth taxes, there’d be little point to relocate to somewhere else.
Step 5 image credit: wikiHow

6. Provide business owners some flexibility so they don’t have to liquidate their business to pay their taxes
Concerns that business owners might need to sell parts of their companies to pay their wealth taxes can be addressed by providing alternative options for paying. For example, business owners who are unable to pay their tax dues in cash by the end of the year and cannot easily generate liquidity from their businesses — unlike publicly traded companies that can sell shares — could transfer some a fraction of their business’s shares, equivalent to the tax duty, to a government-managed “wealth tax trust”. This approach has been successfully used for taxing inherited artwork. The government would own that part of the business, with rights to receive their share of profits but without any control over how the business is run. And the business owner would have the option to buy back these shares within a specified period at the same price. If the owner decides not to buy them back, the trust would sell the shares to the market after a set period. This approach protects businesses from being squeezed by the wealth tax while making sure their owners pay the tax they owe.
Step 6 image credit: wikiHow

7. Call out all myths used to scare the public off of wealth taxes
There are a lot of common misconceptions about wealth taxes: they drive the superrich away, they unfairly target the middle class, they harm the economy. None of these are true: the superrich stay where they are, wealth taxes only apply to the very richest, they boost economic productivity and investment. What rarely gets talked about is the two-tier tax treatment of wealth. Collected wealth – ie dividends, capital gains and rent gained from owning things – is typically taxed at far lower rates than earned wealth – ie salaries gained by working. At the same time, collected wealth typically grows faster than earned wealth. This has resulted in the wealth of the superrich – whose wealth is virtually all collected rather than earned – quadrupling since the 1980s. Wealth taxes put an end to this two-tier treatment, making our economies more secure and protecting the earner way of life our economies are based on. Governments should call out myths on wealth taxes with clear and factual information on how they would implement wealth tax reforms, who these would apply affect and the benefits to be gained.