baddecisionsimulator

@ick_real An agreement between you and your bank that they put up the cash and you own the housing price appreciation

@MichaelSLinden For people who aren’t complete bums, allergic to data, it’s fed to you cbo.gov/system/files/2…

@MichaelSLinden Does reducing tax rates reduce income at the lower deciles?

Well, this is just mean-spirited! I'm gonna answer anyway. Tax cut that results in a higher share of taxes paid by the rich means nothing. Imagine a tax system in which only Elon Musk paid taxes, and he only paid $1. Oh my gosh! The rich pay 100% of the taxes!

@OldKnavey @MichaelSLinden There’s no redistribution involved.

@errorsimulator @MichaelSLinden This has happened because they redistributed wealth upward massively. This is like saying that increasing the crime rate us good because more criminals are in jail

I really don't know what people expect when for the last 50 years, the share of income and wealth going to the top has increased steadily, while their effective tax rates have decreased steadily. That is unsustainable and untenable in political, economic, fiscal and moral terms.

@johnpunch208 @iam_biglad1 And in this context about environment, who’s pumping all the plastic into the ocean? Who has all the dirtiest shit? No comparison

@iam_biglad1 Socialism = An Economic System By Which All Non- Government Citizens are Equally Poor... There I Fixed it For You !!! Zero Pure Socialist Counties in the World Today That are Successful .. ZERO Let that Sink In... Fucking Zero Dude 😭

Capitalists have been telling us for decades to shut up and trust in that the magic of the free market will solve all environmental issues. Study after study is showing this is simply not the case.

@_rotimia It’s much better if we let the Chinese build the AI Next?

This is happening because the most visible capitalists in the country are telling everyone with a job that the technology they’re building, with capitalism, will eradicate their jobs and way of life. Obviously people are going to get curious about other economic models.

@chadpsualum @iam_biglad1 I think people underestimate how much human oversight the AI will need

@iam_biglad1 This same argument was brought up when the assembly line became a thing. AI wont eliminate all the jobs…it will just require different skills

Billionaires re literally investing 10s of billions of dollars into AI in the hope that it can replace workers, therefore they don’t have to pay people.

@zslayback It’s popular like French fries and donuts are popular. But they’re fattening. And then the earners have to pay medical bills for the obese diabetics. Popular and good aren’t synonyms. Popular can be a sign of collective weakness.

Still confused by my tech friends who look at me like I'm nuts when I tell them this will end up being a widely popular policy and that they have an uphill battle here. (That's just a prediction, not an endorsement!)

@bsblnut6626 @iam_biglad1 We’re fine population wise. But if you want to be a misanthropic psychopath at least say let’s have more kids in places where we can afford to manage pollution per person with technology. My new cars with 5x the power of a 1999 Corolla emit less.

@iam_biglad1 Because we went from 3B people when Reagan was president to 8+B people now. It is not a free market problem, it is an over population problem

@BlueScreenNPC @RonaldDriver73 @colindhernandez If you have an event on your boat for clients, potential clients, etc, you can call that a pre-tax business expense, but there’s no “free money.”

@RonaldDriver73 @colindhernandez It's hard to justify using a yacht for business purposes. But also he employs 20 people to run the yacht and 20+ to maintain the yacht. That's 40 jobs they want to destroy

This is exactly why we need a wealth tax.

@colindhernandez @RonaldDriver73 You’re running for assembly and you don’t know basic tax law? What a fail.

@RonaldDriver73 Sir. Are you a billionaire? Do you think it’s fair folks like Jeff bezos can use tax loopholes? Do you think it’s fair he can write off his yacht on his taxes but you cannot write off using your car to go to the store?

@colindhernandez Why should anyone pay tax on any wealth? It’s better in the productive and innovation economy than current consumption with government overhead loss.

@CovenantofUs @Xyleniqq But they got access through hard work. Musk, Bezos, Gates, etc, all the people at the top, were nobodies before they ****made**** their access.

@Xyleniqq Access does not replace hard work, but it does decide whose hard work gets seen.

You stay up until 2am perfecting your small business pitch, sacrificing sleep and family time, while a billionaire tweets one idea from his private jet and gets millions in funding the next day. Hard work is a myth when access is everything.

@Xyleniqq “Concert pianists get paid to enjoy performing, and adulation, while I am paying for lessons and practicing basics.” The billionaire already went through what you’re going through.

@StealthQE4 We shouldn’t be permanents bc the market is permabullish, even if you don’t approve of why. Losing money out of spite against ppl in power rather than making easy money is foolish. The way out of the trap you describe is much higher real growth, which is supply side policies.

Serious long post: We should have all of been permabears in 2008 People love to make fun of market bears as the markets have roared higher. However has it lead to anything positive? The only reason markets have marched 4 fold higher since 2008 is because of QE(zero rates) and money printing. I remember when our “lord and savior” Ben Bernanke announced QE right after the 2008 crisis. Credit traders were shocked. It bankrupted a few. No one thought QE would happen in America. The bond market used to mock the BOJ of Japan for trying it after their market crash in 1989. 20 years later we did the same thing. In 2008 we had a choice. Revert prices to the mean or put the pedal to the metal and print money. We decided to do the latter. Don’t get me wrong. Stock valuations got really cheap. Around a 10 P/E. It was a great time to buy. However, pulling ourselves out of the great deflation of 2008 came at a cost. Zero rates(QE) were unthinkable to many but we got away with it from 2009-2020 because the deflationary pressures were so strong. It turned out to be a great time to own stocks. No inflation, cheap valuations, and an economic recovery juiced by easy money. However, this all came at a cost. COVID came in 2020 and the Fed repeated the easy money game by printing $9 trillion and kept rates at zero. The problem was thanks to stimmies and a recovering economy we were no longer in the 2008-2019 deflationary period. As a result, when COVID ended and the economy opened back up inflation soared to over 9% in 2022. The Fed told us in 2021 the inflation that this was just “transitory”. Wrong. So ever since then inflation has been a problem. Yields have remained much higher than the 2010’s. Good for savers. However, the zero rate economy we saw from 2009-2020 has destroyed things. Housing prices now average $420,000. College tuition is 60k, and health insurance costs have soared. We have to ask ourselves was printing money and dropping rates to zero worth it in 2008? In my opinion hell no. Gen Z would agree. Life became unaffordable. Back to the headline, we should have all of been perma bears in 2008 because the zero rate money game would have never started and the cost of living would be much cheaper now. We should have had the economic reset then. Once inflation starts it’s extremely hard to stop it. We’ve failed to do so since it came back in 2021. The only solution is to see much higher rates imo but many believe we can’t afford it. I think we can for a short period of time. When Volker pushed rates to 18% they were only there for a year or so. Our problem today is we won’t commit to breaking inflation. We’ve decided to just pause it by keeping rates at 3.5%. This solves nothing and kills the Middle Class. The solution to the inflationary problem is much higher rates but unfortunately our government doesn’t have the commitment to do so. I don’t know how this plays out but the high inflation we see now at 4% kills everything. Housing, affordability, food costs etc. I hope the new Fed Chair Kevin Warsh can change things but I’m skeptical. QE

@HenMazzig @HellfireDamn We’re well past this derivative of symbolism shit.

I’m all for representation of Palestinians, but Prada posting a video to their 33M+ followers of their new “Palestinian ambassador” Saint Levant wearing a necklace shaped like the entire land with Israel erased, that’s a message. If an Israeli, or any Jew, wore a pendant that included Gaza, the outrage would be instant. But erasing Israel, “from the river to the sea,” gets a luxury campaign.

@str_xs @Matt24695841 @whatkamisays If Stalin was your passive-aggressive aunt.

@errorsimulator @Matt24695841 @whatkamisays So it's worse than regular socialism

how is socialism bad when everyone in new york seems to be having a much better time than everyone else

@buddsdead @HeroicRecaps @Brellionaires @MendlovitzMark Yeah fine, we’re still going to have a term for the people here before Columbus.

@HeroicRecaps @Brellionaires @MendlovitzMark I am a Native American. I have no other country than the one my ancestors carved out of the wilds of America.

I've been told by a friend from Ohio that one of the reasons the elites are so hysterical about Haitians having to go home, even some Republicans, is apartment owners love renting to them, especially if they are paying government-subsidized rents. Think about the insanity of that. We are subsidizing the rents of foreign nationals, driving up the cost of housing for native Americans by diminishing supply and increasing demand. That is as un-American as anything our government could do to us.

@MappingFL No they’re not. You’re goo g to have terrible career in data, if you can’t tell that.

It never ceases to amaze me that it’s so hard to people to say - Oct 7 was an unjustifiable attack against civilians and a crime against humanity - Israel’s far-right gov used the attack to perpetuate a genocide in Gaza and other Palestinian lands BOTH of these things are true