Hüsker Dü
DA
Prisons?
Essential Economics for Politicians
- Thread starter Bruddah IZ
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- finance too
Bruddah IZ
DA
If they make $ense.
Hüsker Dü
DA
So no personal opinion on that, check.
Bruddah IZ
DA
On the contrary. Nothing more personal then me paying for something that doesn't make $ense.
Bruddah IZ
DA
Eminent domain only works if there is Federal money and cronyism. $4 billion for a rail project that confiscates land, or $600 million for a double decker freeway in Hawaii that would have built above the existing freeway to West Oahu. What do you think the dip shit GOP Mayor did?
Hüsker Dü
DA
There is a lot of waste in the military, that makes no sense to me.
Hüsker Dü
DA
$4 billion was just the down payment now wasn't it . . . and it ain't even to Ala Mo yet?
Hüsker Dü
DA
Maybe a project for Donald to work on . . . "on time and under budget!".
Bruddah IZ
DA
Criminal even. It made me sick how we would spend like crazy every September to use up our budget before next fiscal year, 1 October. Gotta get the same budget or more for next year! We get new copiers leased whether we needed them or not. We would send pilots to Vegas/Nellis for the weekend just to burn our monthly gas allowance. Annoying. I see Solar Panels all over MCAS Miramar that the base general told me are not paying for themselves as promised.
Bruddah IZ
DA
I was just talking to my nieces husband last night about rail. He is with IBEW the electricians union. He stands to gain from the contract but admits that U.S. Representative, Democrat Colleen Hanabusa's preference for a double decker freeway fell amongst deaf ears with $4 billion dollars on the table. GOP idiots should be in OCCC.
We hired a President who won the election on roughly one fifth the budget the establishment threw at him.
Maybe we can get some "trickle down" fiscal management.
Bruddah IZ
DA
Ha ha ha. Donald's victory speech location not quite as glitz as Hillary's "glass house" location. What a freakin' waste of tax payer money....again.
Bruddah IZ
DA
What Is Cronyism and Why Is It a Cancer?
It’s easy to define and/or understand most statist policies.
Are bailouts cronyism? Yes, but it’s more than that. Are subsidies cronyism? Yes, but it’s more than that. Are favors in the tax code cronyism? Yes, but it’s more than that. Are trade barriers cronyism? Yes, but it’s more than that.
https://fee.org/articles/what-is-cronyism-and-why-is-it-a-cancer/
It’s easy to define and/or understand most statist policies.
- We know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your decisions to work, save, shop, or invest.
- We know that protectionism is when politicians use taxes and other policies to restrict your freedom to buy goods and services produced in other nations.
- We know that a minimum wage mandate is when politicians criminalize employment contracts between consenting adults, thus harming low-skilled workers.
- We know that Keynesian “stimulus” is when politicians borrow from one part of the economy and spend in another part of the economy and pretend there’s more money.
Are bailouts cronyism? Yes, but it’s more than that. Are subsidies cronyism? Yes, but it’s more than that. Are favors in the tax code cronyism? Yes, but it’s more than that. Are trade barriers cronyism? Yes, but it’s more than that.
https://fee.org/articles/what-is-cronyism-and-why-is-it-a-cancer/
Bruddah IZ
DA
And the battle to separate capitalism from cronyism is further hindered when major figures in the business world (such as Warren Buffett) get in bed with government.
Another example is Elon Musk, the head of Tesla, Solar City, and SpaceX. He is known as a visionary entrepreneur, which is good. But Andy Quinlan of the Center for Freedom and Prosperity explains that he also has put taxpayers on the hook to underwrite and prop up much of his business activities.
"It was announced this week that one of Elon Musk’s companies, Tesla Motors, will buy one of his other companies, SolarCity, for an all-stock deal worth $2.6 billion. …With the amount of taxpayer support both companies have received, perhaps the rest of us should get a vote… The deal comes as SolarCity has floundered despite significant taxpayer support through a bevy of state and federal tax credits and subsidies. Nevertheless, the solar energy company’s stock has been in long term decline as the company struggles to develop a profitable market not reliant on generous helpings of taxpayer support. Tesla, too, has fed repeatedly at the government trough. The government provided federal loan guarantees and tax credits to help manufacture its electric vehicles. It also subsidized the purchase of those same vehicles to increase sales. Even still, the company makes more money selling “carbon credits” to other manufacturers than it does electric vehicles. …Musk’s other endeavor, SpaceX, also relies heavily on government. Obviously much of its business comes from government contracts, but more interesting is how those contracts are apparently obtained. …this year’s National Defense Authorization Act contains an amendment from Senator John McCain designed to eliminate from competition the Defense Department’s current supplier of rockets and pave the way for SpaceX to take over, despite the fact that its rockets aren’t yet powerful enough for the job."
Another example is Elon Musk, the head of Tesla, Solar City, and SpaceX. He is known as a visionary entrepreneur, which is good. But Andy Quinlan of the Center for Freedom and Prosperity explains that he also has put taxpayers on the hook to underwrite and prop up much of his business activities.
"It was announced this week that one of Elon Musk’s companies, Tesla Motors, will buy one of his other companies, SolarCity, for an all-stock deal worth $2.6 billion. …With the amount of taxpayer support both companies have received, perhaps the rest of us should get a vote… The deal comes as SolarCity has floundered despite significant taxpayer support through a bevy of state and federal tax credits and subsidies. Nevertheless, the solar energy company’s stock has been in long term decline as the company struggles to develop a profitable market not reliant on generous helpings of taxpayer support. Tesla, too, has fed repeatedly at the government trough. The government provided federal loan guarantees and tax credits to help manufacture its electric vehicles. It also subsidized the purchase of those same vehicles to increase sales. Even still, the company makes more money selling “carbon credits” to other manufacturers than it does electric vehicles. …Musk’s other endeavor, SpaceX, also relies heavily on government. Obviously much of its business comes from government contracts, but more interesting is how those contracts are apparently obtained. …this year’s National Defense Authorization Act contains an amendment from Senator John McCain designed to eliminate from competition the Defense Department’s current supplier of rockets and pave the way for SpaceX to take over, despite the fact that its rockets aren’t yet powerful enough for the job."
Bruddah IZ
DA
Germany's Duetsche Bank and the Italian banks have a large number of loans that are non-performing at the moment. Italy is at 17% of loans non-performing! Who does the ECB save? Italy or continue Greece's experimental "Bail In" in which all bond holders and depositors (savings) have seen their "safe money" turn in to equity or stock positions in defunct banks.
Wez
DA
http://www.usatoday.com/story/news/...rives-athens-bringing-message-trump/93870706/
I hope Greece does get some debt relief. I have some money in the GREK ETF.
I hope Greece does get some debt relief. I have some money in the GREK ETF.
Bruddah IZ
DA
Wez
DA
Yea, Greece has been awful for a very long time. I'm hoping to catch a falling knife...
Bruddah IZ
DA
California's Dubious Decision
https://fee.org/articles/california-set-a-tax-trap-for-both-smokers-and-quitters/
The only sensible interpretation of California’s ballot initiative is a highly cynical one: California wants its tobacco tax to be a lucrative source of revenue, but economics gets in the way. Policymakers are therefore willing to trap smokers into their bad habits by instituting similar taxes on safer alternatives to tobacco such as e-cigarettes.
This is irresponsible. States should pursue broad-based taxes to raise revenue, and only use narrow-based taxes to achieve specific social ends, such as reducing cigarette use. California hardly needs the money—it ran a $4.9 billion surplus in the 2015 fiscal year, and Governor Jerry Brown signed a $167 billion budget into law earlier this year without making any cuts. The long term is a different story—the state has hefty pension liabilities that appear to grow by the day—but a revenue source as unreliable as tobacco taxes would hardly put a dent in that problem.
Poor tax policy is not unique to California, and the tobacco tax increase may come to be repealed. But in three out of four states, at least, the voters appear to be smarter than the politicians.
https://fee.org/articles/california-set-a-tax-trap-for-both-smokers-and-quitters/
The only sensible interpretation of California’s ballot initiative is a highly cynical one: California wants its tobacco tax to be a lucrative source of revenue, but economics gets in the way. Policymakers are therefore willing to trap smokers into their bad habits by instituting similar taxes on safer alternatives to tobacco such as e-cigarettes.
This is irresponsible. States should pursue broad-based taxes to raise revenue, and only use narrow-based taxes to achieve specific social ends, such as reducing cigarette use. California hardly needs the money—it ran a $4.9 billion surplus in the 2015 fiscal year, and Governor Jerry Brown signed a $167 billion budget into law earlier this year without making any cuts. The long term is a different story—the state has hefty pension liabilities that appear to grow by the day—but a revenue source as unreliable as tobacco taxes would hardly put a dent in that problem.
Poor tax policy is not unique to California, and the tobacco tax increase may come to be repealed. But in three out of four states, at least, the voters appear to be smarter than the politicians.
