Election Prediction Thread

[RandyForRubio]

Sure is news to me that my corporation doesn’t pay taxes. I’ll have to tell my accountant to look into that, because my checks to the IRS indicate otherwise.

But anyways, corporate tax $$ coming in is way different than it was 50 years ago because an S-type corporation pays taxes on their profits through the owners income tax. The amount of C-type corporates have dropped dramatically, which is why comparing the tax $$ brought in on those compared to 50 years ago is dishonest and intentionally ignorant.

 

[Alfalfa]

I’m not sure tbh. Believe it was not adjusted for inflation.

Best I could find in a very, very, very short amount of research was that since 2001 wages have risen 5.3% adjusted to inflation and benefit costs adjusted to inflation have risen 22.5% since 2001. Purchasing power is about the same as it was in 1973, but our benefits are much higher than they were in 1973, so you have to factor that in.

Long story short, wages are increasing at the highest rate in a while, jobs are up, unemployment is down, wages are increasing, among other reasons, because unemployment is low so companies have to pay real quality wages to keep good employees. Of course, with wage increases will come inflation. There’s no getting around that. With all that said, it would be very difficult to say that the economy isn’t doing very well right now.

I agree that the economy is doing well. But the economy has also grown by a lot more than 5.3% since 2001 (eye balling it, looks like >25% adjusted for inflation). I think it's clear that the vast majority of growth is going toward the capital holders. But that's probably a global systemic issue that isn't simple to fix.

 

[RandyForRubio]

I agree that the economy is doing well. But the economy has also grown by a lot more than 5.3% since 2001 (eye balling it, looks like >25% adjusted for inflation). I think it's clear that the vast majority of growth is going toward the capital holders. But that's probably a global systemic issue that isn't simple to fix.

I mean, of course the majority of growth is going towards the capital holders. That should be expected, and it’s good. It’s the reward for owning and doing business well. That doesn’t mean our system is perfect, it’s absolutely not, but it’s not bad either.

Think about it. We have the luxury to discuss this on our phones. The time, the health, the ability. Things aren’t so bad.

 

[Alfalfa]

I mean, of course the majority of growth is going towards the capital holders. That should be expected, and it’s good. It’s the reward for owning and doing business well. That doesn’t mean our system is perfect, it’s absolutely not, but it’s not bad either.

Think about it. We have the luxury to discuss this on our phones. The time, the health, the ability. Things aren’t so bad.

Ya, tech progress complicates the living standards discussion. Nevertheless I don't think the continued accumulation of capital at the top is a good thing. If Trump presented the discussion as "I promise 4% growth, out of which 3.7% will go toward the rich", most people would not be happy. And rightly so. There is a lot of resentment toward billionaires adding a few more billions to their net-worth every year, while arguments for why this is a good thing become more and more complicated and convoluted.

 

[DutchJazzer]

Eenie has a point in that unlike the economy of the 50's and 60's, and even compared to the economy of the 80's, today's economic prosperity goes overwhelmingly to the 1% and especially the .1%. FAKE ECONOMY!

lol that is because now people are entitled!

people who arent even working, who are living on government assitence are buying things like 500-1000 dollar phones! every 1-2 years. you are living on governments dime! don't ****ing buy **** that are out of your living standards!

so what this does it makes big companies sell more of their products! which means those big companies make MORE money. this is simple economics. if you look at certain countries and you look at the lowest class. and you see what kind of luxury items they have like 200+ dollar phones. and those who have not. there is one coloration they are getting free government money and spent it unwisely!

so these kind of things makes the 1% richer! because they are selling **** to people who can afford it.

people should live according to their income bracket! if you are living of govenrment assitence stop buying luxury products. start saving some of that money!instead of buying a fricking 500-1000 dollar phone buy a 100 dollar phone and get some ****ing stocks into apple or samsung! you did not work for that money so you don't deserve that phone!

this is what makes the rich richer!
people dont seem to grasp this simple concept.
if you was poor in the 50's you had less luxury items then now!

simple economics these fools do not understand, then eeniemeenie questions my inteliffence. bo i got a degree in aerospace engineering! what do you have! you dont have a grasp of free market economy.
because governmetn taking money and then redistrubiting it is NOT free market economy! it rigs the economy.
the govenrment mandating banks to lend money is also not free market economy. it makes people consume luxury items and items beyond their mean income! throws the whoel system out of whack so when it fails people blame capitalism!

no you illiterate uninformed punk! it is the fault of RIGGING free markets. restraining them and tying them down

 

[Miggs]

Triggered.

 

[DutchJazzer]

Simple their is no free market. govenrment is giving away free money. so people who shouldnt buy certain things buy those things. which makes demand go UP!
when demand goes up. supply cant always go up because of manufacturing or other limtis. so prices go up so More moneys for big companies!

SIMPLE GAWD DAMNED ECONOMICS

 

[RandyForRubio]

Ya, tech progress complicates the living standards discussion. Nevertheless I don't think the continued accumulation of capital at the top is a good thing. If Trump presented the discussion as "I promise 4% growth, out of which 3.7% will go toward the rich", most people would not be happy. And rightly so. There is a lot of resentment toward billionaires adding a few more billions to their net-worth every year, while arguments for why this is a good thing become more and more complicated and convoluted.

Growth is growth.

Progress is progress.

You and I are most likely not going to earn as much money in our life team as some CEO’s earn in a year, and honestly, it sucks. It feel unfair. They’re also creating more jobs, more tech, more food, more cars, etc etc etc. It’s hard for me to say they shouldn’t get that money. I don’t like to put caps on what people can earn...that seems more unfair tbh.

Here’s the beautiful thing. We live in a country where a 29 year old bar tender can get elected to Congress in New York! We live in a country where a poor boy who grew up in the slums of Louisiana can grow up to be the National Fire Chief. We live in a country where wealthy parents can hand their wealth down to their family, or give it all to charity, or waste it all, and it is their choice. We have so many opportunities here, and people from all socioeconomic levels have succeeded and failed. And that’s a beautiful thing.

So naw, I’m not going to worry about the top getting all the wealth. I have a combined family income of $95k. I have a family of 5. I can afford health insurance, food, a house, vehicles, phones, the very rare trip or two...I’m happy man. I’m privileged. More than a lot, and not as many as a lot. But I’m happy. I don’t need the newest iPhone or the shiniest car. I don’t get government help anymore, and I pay my taxes. It’s tough on occasion...but it’s still a damn good life.

 

[Alfalfa]

Growth is growth.

Progress is progress.

You and I are most likely not going to earn as much money in our life team as some CEO’s earn in a year, and honestly, it sucks. It feel unfair. They’re also creating more jobs, more tech, more food, more cars, etc etc etc. It’s hard for me to say they shouldn’t get that money. I don’t like to put caps on what people can earn...that seems more unfair tbh.

Here’s the beautiful thing. We live in a country where a 29 year old bar tender can get elected to Congress in New York! We live in a country where a poor boy who grew up in the slums of Louisiana can grow up to be the National Fire Chief. We live in a country where wealthy parents can hand their wealth down to their family, or give it all to charity, or waste it all, and it is their choice. We have so many opportunities here, and people from all socioeconomic levels have succeeded and failed. And that’s a beautiful thing.

So naw, I’m not going to worry about the top getting all the wealth. I have a combined family income of $95k. I have a family of 5. I can afford health insurance, food, a house, vehicles, phones, the very rare trip or two...I’m happy man. I’m privileged. More than a lot, and not as many as a lot. But I’m happy. I don’t need the newest iPhone or the shiniest car. I don’t get government help anymore, and I pay my taxes. It’s tough on occasion...but it’s still a damn good life.

You own a farm. Most people do not earn anything near that. I'm pretty sure average house hold income is in 50k range. For someone working at a company for $15 an hour, the fact his or her CEO, who makes 10m a year, can create a bunch of other $15/hour jobs doesn't mean much. As for social mobility, it's getting worse and worse. Currently, something like 7% of people born in the bottom 20% in socioeconomic status reach the top 20% in their lifetimes. The figure is 13% in Canada. So there is a decline in opportunity that can be correlated to income inequality.

I hate to bitch about this because my gut feeling is similar to yours. The US is doing fine. Nothing is perfect, and we've done fairly well, despite the problems.

 

[RandyForRubio]

You own a farm. Most people do not earn anything near that. I'm pretty sure average house hold income is in 50k range. For someone working at a company for $15 an hour, the fact his or her CEO, who makes 10m a year, can create a bunch of other $15/hour jobs doesn't mean much. As for social mobility, it's getting worse and worse. Currently, something like 7% of people born in the bottom 20% in socioeconomic status reach the top 20% in their lifetimes. The figure is 13% in Canada. So there is a decline in opportunity that can be correlated to income inequality.

I hate to bitch about this because my gut feeling is similar to yours. The US is doing fine. Nothing is perfect, and we've done fairly well, despite the problems.

I don’t own a farm. I manage one and I’ll have the option to buy it in a few years and spend the rest of my life paying it off.

I don’t even own a home, I rent. I can’t afford to build or buy.

I understand it doesn’t help the one guy at the company, but it does help the country. And that’s more
Important.

 

[RandyForRubio]

And 7% of the bottom 20 going to the top 20 is still really good! There aren’t very many places where you can do that. Could it be better? Absolutely. Am I gonna bitch about how awful we have it? No, no I’m not.

 

[Zombie]

And 7% of the bottom 20 going to the top 20 is still really good! There aren’t very many places where you can do that. Could it be better? Absolutely. Am I gonna bitch about how awful we have it? No, no I’m not.

It really a isn't though, at least not when compared to our peers across the pond like Sweden and Denmark. The fact Is the US is middle of the pack when it comes to upward mobility among developed nations.