THATS NOT WHAT I'M SAYING. He gave back the money that was paid on the debt by Clinton, in a Tax Refund. You know, money already paid on the debt was given back to the tax payer, after the fact, and the debt rose back up as a cause of this action. I'm not saying whether I agree with the assessment or not, I'm just relaying what he was trying to say.
Tech was so hot during that time I’m not sure capital gains rates had much to do with the slew of money which went into the sector. Everybody wanted a part of the next big thing and acted accordingly.
What I’m saying is that extraordinary growth would likely have been diminished if the speculative money supply had been diminished. Less ROI = Less investment.
Certainly possible. Like I said above my only hesitation is that that tech sector was such an attractive place for investors the degree which a drop in capital gains tax rates of 5-8% contributed to the boom is hard for me to quantify. As is the fact that the time required for those investments to be held to qualify for said rates reductions increased from 12 to 18 months which could somewhat counter act the rate decrease. Remember….Greenspan called the mentality which caused the tech bubble as irrational exuberance. Lots of people with money trying to get involved in the latest hot thing without caring about valuations or even sound investment strategies. See people paying hundreds of thousands of dollars for Bored Apes
. Jamie Dimon and Ray Dalio are beginning to be heard, and are getting more airplay on the US debt.Certainly possible. Like I said above my only hesitation is that that tech sector was such an attractive place for investors the degree which a drop in capital gains tax rates of 5-8% contributed to the boom is hard for me to quantify. As is the fact that the time required for those investments to be held to qualify for said rates reductions increased from 12 to 18 months which could somewhat counter act the rate decrease. Remember….Greenspan called the mentality which caused the tech bubble as irrational exuberance. Lots of people with money trying to get involved in the latest hot thing without caring about valuations or even sound investment strategies. See people paying hundreds of thousands of dollars for Bored Apes
Do you disagree with any of this?
This happened again in the 2018-2022 range with software as a service (SaaS) companies. Their valuations were so far off based on an assumption that the growth of these companies would continue. Covid exacerbated it. I felt it first hand, both in getting a pay out through VC acquisition and then being laid off within a year because they realized how upside down they were and suddenly interest rates weren't basically 0.
Because neither candidate will actually tackle it and they don’t want to make promises they can’t keep or announce policies that would hurt their candidacy.
Oh I understand why they don’t address it. My point is that the public and press should force them to do the same.
My problem is that I wouldn’t trust anything either of them said on the issue…. Even if they said sensible things.
Hell…at this point I would be happy with either side saying they’ve seen the numbers and understand this isn’t sustainable and plan do address the issue. One of the problems with our political system is issues which need to be fixed but the fix will likely cost votes never gets fixed until we hit a crisis situation. The problem here is once we hit that crisis point there’s going to be a lot of pain on Main Street before this ship gets righted.
