Essential Economics for Politicians

Reauthorizing the EXIM Bank must be a top priority for Congress

There is strong bipartisan support for the EXIM Bank. We recently introduced legislation to reauthorize the Bank for 10 years. Our bill gives American businesses the long-term certainty and financial backing they need to succeed, while ensuring our foreign adversaries cannot create a lasting competitive advantage.
Members of Congress from both sides of the aisle have already joined our efforts, and we hope more will join in the coming weeks. The time to act on the EXIM Bank is now. It’s a win-win for American jobs and American national security.

thehill.com

Reauthorizing the EXIM Bank must be a top priority for Congress

There is strong bipartisan support for the EXIM Bank. We recently introduced legislation to reauthorize the Bank for 10 years. Our bill gives American businesses the long-term certainty and financi…
thehill.com thehill.com
 
This is good. Get rid of the crowds and long lines.

Harrods, the famously high-end department store in London, is putting a 1% twist on the holiday tradition of the in-store Santa: Only families that have spent at least $2,500 at the retailer this year will be granted access to Santa'slap. To be sure, the tradition of store Santas is deeply entrenched in capitalism.
 
UBS analysis of more than 2,000 global billionaires finds that over the past 15 years, billionaire-controlled companies returned almost twice the annualized average performance of the market and generated a 50 percent higher return on equity. Moreover, while the billionaire effect is seen globally, the effect was strongest in the United States.

Well, good for them, right? But also good for the users of the products and services sold by those companies, not to mention their investors and workers. UBS describes the ability of these billionaires “to transform entire industries, to create large numbers of well-paid jobs, and to rally the world to find cures for diseases such as malaria.”

Why point this out? One reason is because some critics argue the mere existence of billionaires, at least in the US, as prima facie evidence of deep dysfunction in American public policy. Yet, as my colleague Michael Strain argues in a recent podcast chat with me, “It is very difficult to argue that the world would be better off if we didn’t have Jeff Bezos and Bill Gates. And we should want there to be more of them, but you’re not going to have them if people can’t amass significant amounts of wealth.” (The rise of the superrich, a 2018 Credit Suisse global wealth report notes, “is often seen as a sign of a country’s economic health and its ability to generate opportunities for wealth creation.”)


https://www.aei.org/economics/the-b...DYW5COWFrU1FzWFk3SnlwYzBQTktGWjJSeVhqWkc4In0=
 
Bruddah IZ said:
UBS analysis of more than 2,000 global billionaires finds that over the past 15 years, billionaire-controlled companies returned almost twice the annualized average performance of the market and generated a 50 percent higher return on equity. Moreover, while the billionaire effect is seen globally, the effect was strongest in the United States.

Well, good for them, right? But also good for the users of the products and services sold by those companies, not to mention their investors and workers. UBS describes the ability of these billionaires “to transform entire industries, to create large numbers of well-paid jobs, and to rally the world to find cures for diseases such as malaria.”

Why point this out? One reason is because some critics argue the mere existence of billionaires, at least in the US, as prima facie evidence of deep dysfunction in American public policy. Yet, as my colleague Michael Strain argues in a recent podcast chat with me, “It is very difficult to argue that the world would be better off if we didn’t have Jeff Bezos and Bill Gates. And we should want there to be more of them, but you’re not going to have them if people can’t amass significant amounts of wealth.” (The rise of the superrich, a 2018 Credit Suisse global wealth report notes, “is often seen as a sign of a country’s economic health and its ability to generate opportunities for wealth creation.”)


https://www.aei.org/economics/the-billionaire-effect-that-wealth-worriers-never-mention/?mkt_tok=eyJpIjoiTlRVNE9XWTBOak01WmpReiIsInQiOiJQc0o1NTRtMnF3NERtXC9tXC80SU5OS1g5UXJFdnBCOUUzUjBWNnNmM1duOXpiSXlzUzBlTHBGSUh6d2R2QW12UTNCM2lMb2dnMFlEWStJb2RtSnQ3d2xZR3BTclltWUczdmlDYW5COWFrU1FzWFk3SnlwYzBQTktGWjJSeVhqWkc4In0=
Click to expand...
I wonder how a place like UBS could perform a pro-billionaire analysis. Strange.
I’m a Morgan Stanley guy. Not a billionaire, but I did find out yesterday that I have a 7-figure income tax burden to meet come April ‘20. Fries U! I know you don’t give to charity, Iz, but I will donate to you my seat on Santa’s lap.
 
Bruddah IZ said:
UBS analysis of more than 2,000 global billionaires finds that over the past 15 years, billionaire-controlled companies returned almost twice the annualized average performance of the market and generated a 50 percent higher return on equity. Moreover, while the billionaire effect is seen globally, the effect was strongest in the United States.

Well, good for them, right? But also good for the users of the products and services sold by those companies, not to mention their investors and workers. UBS describes the ability of these billionaires “to transform entire industries, to create large numbers of well-paid jobs, and to rally the world to find cures for diseases such as malaria.”

Why point this out? One reason is because some critics argue the mere existence of billionaires, at least in the US, as prima facie evidence of deep dysfunction in American public policy. Yet, as my colleague Michael Strain argues in a recent podcast chat with me, “It is very difficult to argue that the world would be better off if we didn’t have Jeff Bezos and Bill Gates. And we should want there to be more of them, but you’re not going to have them if people can’t amass significant amounts of wealth.” (The rise of the superrich, a 2018 Credit Suisse global wealth report notes, “is often seen as a sign of a country’s economic health and its ability to generate opportunities for wealth creation.”)


https://www.aei.org/economics/the-billionaire-effect-that-wealth-worriers-never-mention/?mkt_tok=eyJpIjoiTlRVNE9XWTBOak01WmpReiIsInQiOiJQc0o1NTRtMnF3NERtXC9tXC80SU5OS1g5UXJFdnBCOUUzUjBWNnNmM1duOXpiSXlzUzBlTHBGSUh6d2R2QW12UTNCM2lMb2dnMFlEWStJb2RtSnQ3d2xZR3BTclltWUczdmlDYW5COWFrU1FzWFk3SnlwYzBQTktGWjJSeVhqWkc4In0=
Click to expand...

The Washington Post loses money (a deduction) and gives owner Jeff Bezos power to screw public on low taxation of Amazon.
Washington Post employees want to go on strike because Bezos isn't paying them enough. I think a really long strike would be a great idea. Employees would get more money.
 
Booter said:
The Washington Post loses money (a deduction) and gives owner Jeff Bezos power to screw public on low taxation of Amazon.
Washington Post employees want to go on strike because Bezos isn't paying them enough. I think a really long strike would be a great idea. Employees would get more money.
Click to expand...
So Amazon writes and enforces tax laws too? Do you take any tax deductions?
 
messy said:
I wonder how a place like UBS could perform a pro-billionaire analysis. Strange.
I’m a Morgan Stanley guy. Not a billionaire, but I did find out yesterday that I have a 7-figure income tax burden to meet come April ‘20. Fries U! I know you don’t give to charity, Iz, but I will donate to you my seat on Santa’s lap.
Click to expand...
Taxes are a burden?
 
messy said:
They're an "expense." Expenses are generally considered a burden....vs. revenues which are a "benefit." See if you can stay with me here.
Click to expand...
No problem. Revenues are pre-tax benefits and thus subject to expenses generally considered a burden. Maybe you should stop earning revenues. No benefit, no burden.
 
Bruddah IZ said:
So they are providing a service that is not only legal but valued by many?
Click to expand...
The U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars.
The size of the company's lobbying staff has ballooned and that does not include the Washington Post, which is used as a 'lobbyist' and should so register. If the Post Office increased its parcel rates, Amazon's shipping costs would rise by $2.6 Billion. This Post Office scam must stop. Amazon must pay real costs (and taxes) now.
 
Booter said:
The U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars.
The size of the company's lobbying staff has ballooned and that does not include the Washington Post, which is used as a 'lobbyist' and should so register. If the Post Office increased its parcel rates, Amazon's shipping costs would rise by $2.6 Billion. This Post Office scam must stop. Amazon must pay real costs (and taxes) now.
Click to expand...
Congress must have bigger fish to fry than Amazon.
 
Booter said:
The U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars.
The size of the company's lobbying staff has ballooned and that does not include the Washington Post, which is used as a 'lobbyist' and should so register. If the Post Office increased its parcel rates, Amazon's shipping costs would rise by $2.6 Billion. This Post Office scam must stop. Amazon must pay real costs (and taxes) now.
Click to expand...
Congress must have bigger fish to fry than Amazon.
 
messy said:
This is good. Get rid of the crowds and long lines.

Harrods, the famously high-end department store in London, is putting a 1% twist on the holiday tradition of the in-store Santa: Only families that have spent at least $2,500 at the retailer this year will be granted access to Santa'slap. To be sure, the tradition of store Santas is deeply entrenched in capitalism.
Click to expand...

Adam Schiff is in line to beg for an eye socket reduction.........

https://illicitinfo.com/wp-content/uploads/2019/05/DhUc_pVXUAAaFFG.jpg
 
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