Lutnick Family Angling To Make Astronomical Sums Off Court Nixing Tariffs talkingpointsmemo.com/edblog/lutni...
Lutnick Family Angling To Make Astronomical Sums Off Court Nixing Tariffs talkingpointsmemo.com/edblog/lutni...
Admitting Trump’s failure would be admitting their own guilt in supporting him. Delusions and denial working overtime to suppress that guilt.
Because there was so little else to worry about with Biden. Trump floods the zone. Reminding us that perception is downstream of desire.
It's crazy that we've spent more time this year talking about the *former* president's health than the current one's, given the numerous warning signs and unanswered questions that are accumulating.
How about a simple 1% tax on asset value, paid by issuer for securities. It would fall equally on US and foreign owners, but US citizens gain the benefit of the revenue, e.g., to cut taxes on income.
And the blue line more closely tracks income tax rates than union membership. That’s the obvious way to fix what ails is.
He was flagged down in the driveway while making a run for it after her hubby came home. He caught up and rammed him.
But the highly progressive tax rates that were adopted in the 1930’s and ended in 1981 were the biggest driver. That’s how to make America great again.
Lying about consumer confidence will backfire because everyone knows their own sentiment. Thinking out everyone else is happy will just drive resentment.
More importantly I think you have less need for other pleasures with that nicotine hit always at hand. I remember when I quit, music, movies, sex and food all became more vivid.
As we saw with Covid, deaths strengthen commitment to Trump. It is a trick long used by primitive religious sacrifices and abusive spouses. If someone causes you great pain, you exaggerate their greatness as compensation, to avoid admitting your own complicity.
Twin debacles in Iraq and on Wall Street discredited core Republican ideology on the economy and foreign policy, forcing a pivot to all demagoguery all the time.
Republicans should be asked why they did not include any tariffs in the BBB.
Think we’re going to discover that loyalty to Trump was transactional.
I’ve been hoping he spends a few weeks in the hospital, watching the celebrations on TV.
The GOP will disintegrate as they jockey for power
The Gilded Rage
Unless the Republican controlled Congress steps up to support their leader and puts the tariff’s into law. Curious they did not include in the reconciliation bill.
Saw him on MSNBC tonight. Very impressive.
Three senior CDC leaders who resigned told The Post they were asked to participate in an unscientific vaccine recommendation process that they believe could harm the health of Americans.
Also failed to provoke violence in DC and ended up on an extremely expensive trash detail
45 years of tax cuts have created a glut of investment capital that has to go someplace. Paradoxically, this crowds out good investments. With so many easy ways to make a return, no reason to take a chance on creating genuine new value.
Without enemies, the GOP has nothing. Russia no longer needed since Trump has identified so many targets within our own borders.
📌NOTE: Stop using the word "Trump" and start using the word "Republicans" to describe the monstrous things that are happening in America. Without "Republicans" "Trump" could get little to nothing done. This will be particularly important in next year's midterms which "Republicans" will try to stop.
But Covid also strengthened Trump, by forcing his voters to deploy defense mechanisms to avoid facing their own complicity in needless deaths. He must be truly magnificent to justify all the pain he caused. It’s why primitive religions require sacrifices and people stay in abusive relationships
According to federal data, 13 of the top 20 cities in homicide rates have Republican governors. None of those cities are Chicago. 8 of the top 10 states in homicide rates are led by Republicans. None of those states are Illinois. And yet Trump is sending troops here.
Forgot massive economic debacle.
This is good, very, very good.
Civilians weapons should come only in pink or paisley. Put a damper on the army man fantasies
Yes, absolutely wants to play wartime leader, but he’s also a coward so somebody small like Venezuela will pay the penalty
Me all the time now
They also had the recent experience of impeaching Trump twice, convicting him of a felony, indicting him in 4 jurisdictions, mounting the two largest protests in US history, watching him assault the Capitol on TV and losing to him because people were unhappy with inflation.
But more progressive tax rates will slow down the velocity of income pursuit, and make regulation easier, as people will self-regulate (if you can’t find their price)
HUGE FLIP: Democrat Catelin Drey wins deep-red state Senate seat in Iowa, breaking the GOP's supermajority. Drey won by 11 points in a district Donald Trump carried by 11 points last year. It's another massive overperformance. The Iowa GOP should be very worried for the midterms. Our full writeup:
Compromise suggestion: The President can redesign the Cracker Barrel logo, and the Fed can set interest rates.
Absent truly monumental changes (say, global pandemics crushing supply chains and closing down whole cities), Stock Market is just "rich people's vibes" and frankly, they like the rancid vibes of Trump. It's as simple as that.
Anyone got a list of the hospitals?
Yeah, but your pals in Congress just handed out $5T in tax cuts. That is 500x the amount you are bragging about
Well, a lot of people are scratching their heads about why the stock market seems disconnected from economic reality. And one new thing in the mix is the Fed holding such massive balances. If they sold them, bond yields would go up and money would move out of stocks to buy them.
Since when do home prices surge while jobs are being lost?
Where did the cash to buy the stocks come from if not private investors selling their bonds to the Fed?
Yes, the top 1% went from earning 20% of all income in 2019 to 26% in 2021, coincident with the Fed’s asset buying binge. Stock and real estate values jumped 35% over a period where jobs were lost. Insane giveaway to investors.
Then they should undo their previous error and sell off the $3T in assets they bought in 2020. The effect of that was a 23% rise in stock value over a period when real GDP growth was zero and 6M jobs were shed. Home prices went on to rise 35% over a 2 year period
So, it can only inflate asset prices, not deflate them? Sounds like a good deal for asset holders!
Why is the Fed still holding $7T on its balance sheet? Stocks are overvalued. Real estate is over valued. Cryptocurrency is near record highs.
Back when the top marginal income tax rate was 70% or higher and the corporate tax rate was near 50%. Took a while for the wealthy to forget who pulled their fat out of the fire in WWII.
Right, but I am thinking of a pure sacrifice that brings no benefit to anyone. You say, this is awful, I am a terrible fool for allowing it to happen… unless there is some redeeming benefit… so you fabricate that benefit. Trump is a greatest man ever! The worse he is the greater he is imagined
Just received this statement from Lisa Cook: "President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."
Right, I meant the Abrahamic religions, with Christianity making it the defining feature. But, the rejection begs the question, why sacrifice was so central in the first place? And I think the answer is that it strengthens commitment
And Covid was the coup de grace. By killing 100,000 people he got his supporters to love him more and erase the last century of medical science from their minds, rejecting common sense that was obvious even to medieval peasants
I understand sacrificing so that others may benefit. I do not understand the abusive sacrifices which Christianity largely dispensed with. And if you don’t see Trump exploiting the same dynamics that drive religious cults you are not paying attention.
It was like how an abusive spouse can become even more valued as they drive down their partners self-esteem and make them feel pain. Then I realized that’s what religious sacrifice was all about, and Christianity would free you from that primitive emotional manipulation.
I never understood that either, because I did not comprehend the importance of sacrifice in other religions. But then I watched how Trump supporters became more committed as his unfitness became more obvious, bestowing him with imaginary superpowers to compensate for the failings they could see.
Yes, as we saw with Covid, pain paradoxically increases loyalty to the cause of the pain, to ease the cognitive dissonance. He must really be awesome to be worth all this pain. Cheap trick of primitive religions and modern day demagogues.
Maybe the Fed buying up $9T in assets and holding on to most of it.
But his minions in the DOJ will try to make it so with trumped up charges on existing statutes.
Hopefully, precedent for an across the board tax on market value, say 1% annually, once we get back to legal taxation policies.
Building off this: The pundit class has a weird cognitive dissonance thing going on where they must simultaneously be viewed as neutral observers who cannot be held responsible for political outcomes and the main characters of the universe or they will destroy the world.
Trump: "A lot of people are saying maybe we'd like a dictator."
When Democrats next gain power they need to codify this as an across the board tax on market cap, say 1% annually to replace cap gains tax. And paid in cash not stock.
Yes, Clinton went with the flow. But NAFTA was proposed by Reagan, negotiated by Bush, and opposed by a majority of Democrats in Congress. Anyway, the problem was not NAFTA, but tax cuts which provided capital to replace union labor with automation and new factories in Mexico and southern states
You mean, you can thank Clinton for not vetoing it. Like banking deregulation and NAFTA, that was passed by Republicans in Congress who were in ascendance after Reagan Revolution brought 50 years of D control to an end.
The US spends double what most countries spend per capita. Not sure why you think that couldn’t buy better care.
He is golfing today. That will be the tell, if he goes a week without golfing.
It’s going to backfire big time as voters repudiate Trump.
Everyone would do well to remember it’s not what you are but what you do that matters.
Trying to impress his father-in-law, fit into the family
By turning Americans against each other, at a tremendous cost to us all, that even his voters will eventually comprehend, a lesson that seems to need repeating each century
Greenland breathes sigh of relief as it turns out Trump has decided on a military occupation of the United States instead.
When unrealized gains are untaxed, investors may hold on to overvalued assets to avoid a taxable event and sell declining assets to lock in losses. This makes markets less efficient and wastes resources on unproductive tax planning. Replace with flat tax on stock value, collected direct from issuer
But it’s a question whether the right wing propaganda machine that went into overdrive after core policy positions were discredited by twin debacles in Iraq and on Wall Street would have found other targets to distract from their real world achievements.
Replace cap gains tax with 1% annual tax on market value. Equivalent to a 20% tax on gain for an asset generating 5% annual rate of return. But avoid all the monkey business around timing realization.
The real problem is it takes real resources to insure those gains can someday be realized, such as the US Navy in the S. China Sea to protect factories NVDA depends on. Not clear why anyone else should pay for a stable society that protects private property other than the owners of that property
And what makes you think the owners of those gains should not help pay for the army, police, courts and stable society without which they can never be realized?
On the left at least that began when Republicans put a pathological liar and lifelong conman in the White House.
Is a percentage of revenue collected from a merchant a tax?
Yes, but it should be across the board on all corporations, at about 1% annually, and paid in cash. Replace cap gains tax.
Rangappa: Do you believe that Ghislaine Maxwell is guilty? Ferguson: Yes Rangappa: She denied her guilt the interview. Ferguson: Most criminals lie, newsflash. That's, like, not shocking. Rangappa: Then why on Earth would you believe anything she said?
And not only do we show up with our eyeballs, but with a ~$70/month access fee taped to our forehead. The least they could do is pay the freight to reach us. Should move data transit costs to the sending side. Force content providers to deliver enough value to recover those costs.
No doubt, and Trump was threatening this years ago. But Clinton, Biden and Pence were all smarter than Trump, and all had national security information at home that could have been fodder for a corrupt DOJ.
Right, but I can’t see him incinerating all evidence of his career in government. Maybe there would be a safer place to keep it, but they could find that too.
Kansas is well known for its wizard and witches. Iowa?
I would not be sure. Vast amounts of information, even his own notes, may be construed as National Defense Information. The statutes would make a conviction very difficult, which would not prevent this Trump DOJ from charging.
He should cut rates while simultaneously unloading a few trillion in assets they still hold from Covid QE binge. Let some air out of stock market.
this is good, I especially like to see it in The Atlantic www.theatlantic.com/ideas/archiv...
Covid revisionism is the only way to cope with their own role in putting Trump in power. A million deaths is a lot to have on your conscience. Powerful defenses will be erected.
Yes, he needs to move on, and amp up his parody to hit more targets. Like unveil some grandiose plans for remodeling the governor’s mansion. There is plenty of material to work from.
Cartoon by @davewhamond.bsky.social
What is the logic for the Fed still holding $6.6T in assets when we are in an asset bubble? Why not sell more of that off to private investors who have more money than they know what to do with?
Or, they know this is what Trump believes and it is to their own advantage to cater to him. Difference is they will jump ship when his power fades.
Federal spending is up $384B from this point in the previous fiscal year. Somebody started doing some math.
Unfortunately, the segment of the population that needs convincing instinctively disagrees with any argument that comes from a Democrat. That’s the logic for letting them discover it for themselves.
That’s the GOP. Without enemies, they have nothing
"Figures from a classified Israeli military intelligence database indicate five out of six Palestinians killed by Israeli forces in Gaza have been civilians, an extreme rate of slaughter rarely matched in recent decades of warfare." www.theguardian.com/world/ng-int...
And they have managed to spend $374B more than at this point in the last fiscal year.
Lot of Republicans mistaking shameless for authentic
What is the error rate of presidential statements? That’s all you need to know about this moment in history
New in PN: Dan Bongino's babysitter "The problem appears to be that Bongino and his boss, FBI Director Kash Patel, are terrible at their jobs."
Yes, competitive people gravitate toward the GOP, whose economic ideology and foreign policy embrace that as driving force. Cooperative people are drawn toward Democrats. This gives R’s a tactical advantage in politics, but a strategic disadvantage in governing.