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.
Is this news?
It better be news as the trend is not sustainable and will lead to either draconian cuts in spending on defense/social services or crippling devaluation of the dollar. The statement from the CBO that we will need a 8%-9% cut in spending across the board just to stabilize our budget is sobering. That percentage obviously increases as debt service increases.
What I’m saying is that the burden of the national debt can not be placed solely on individual income tax payers.
Not sure why you believe the burden is placed solely on individual taxpayers. Corporations pay tax as well. Individual taxpayers also pay tax on the corporate earnings. Are you suggesting the government seize corporate assets? We could raise corporate rates by ten percent and the added revenue wouldn’t dent our current annual deficits. It would also decrease the tax revenue individuals pay on corporate profits. Granted not by as much as the increase in revenue generated.
Both need to be done to cut the deficit enough without drastically cutting spending, & vice versa. Smaller tax increase that affects the wealthy at least as much as the poor, and smaller cut in spending.
I’m afraid spending will never be cut unless it’s required by law and there’s a required percentage. No one gets elected by reducing the free stuff people get. Will have to be mandatory.
It will have to be a constitutional amendment with specific unalterable parameters for congress to follow:
These partisan nonsense posts on the deficit / debt drive me nuts. Our deficit this year will be $2T. An amount unheard of in non-emergency times. Debt service is now over a $1T a year. Neither party has any high ground here. Both are to blame for our fiscal disaster and neither currently care. That is the sad truth of America politics in 2024.
1 sounds good…. Very impractical
Generating increased receipts without making investments for the public good is a pretty efficient way to fall behind in a global economy.
I just threw the idea together quickly. Essentially the thought was to try and recover some portion of the benefits that high level executives (CEO’s) / speculators have received (or that the companies they invest in have received) from operating in the US.
No, communism would be me advocating for the government taking over control of the means of production. I don’t want the government telling Apple how many iPhones to make or Walmart how many loaves of bread to stock.
they will. when I was in the 8th grade we studied government styles. The communists braged that the could defeat us without firing a shot. I see it comming
