| To: Art Bechhoefer who wrote (210633) | 7/13/2021 3:05:57 PM | | From: Force Majeure | | | | OT
The corporate tax cut approved by the previous administration didn't lead to more corporate investing or lower prices, but it did produce higher dividends and capital gains, which benefit mainly higher income shareholders.
it also produced greater returns for 401(k) and pension holders too. Those folks are typically in the hard working/middle class.
... the main goal should be to reduce tax inequalities that favor wealthy individuals and large corporations and shift more of the tax burden to low and middle income households. did you mean shift less of the tax burden...? |
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| To: Force Majeure who wrote (210636) | 7/13/2021 3:12:17 PM | | From: Art Bechhoefer | | | | Yeah, you caught a big mistake. The goal of any meaningful tax reform should be to shift MORE of the tax burden from low and middle income households to wealthy individuals and corporations that have previously received more benefits compared to others.
The justification for this view is based on the book by Thomas Piketty, "Capital in the 21st Century," which used some 200 years of data to show that increasing income inequality causes a lower overall rate of growth. Talk about shooting oneself in the foot!
Art |
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| To: Art Bechhoefer who wrote (210637) | 7/13/2021 4:03:16 PM | | From: Force Majeure | | | | OT
Yeah, you caught a big mistake.
Not trying to be a grammar nazi, just got confused by the statement.
.
Admittedly, I haven't heard of the book, so I'll have to check it out. By and large, most (if not all) costs, including taxes, are passed along to the consumer. So it seems to me raising corporate taxes will force a corporation to react in one or several ways:
* raise prices on goods & services and punish customers, which could result in selling less products and less revenues
* absorb the costs and pass it along to investors thru reduced eps and/or dividend payouts in some cases
* absorb the costs and punish your work force thru reduced compensation (i.e. wages, raises and profit sharing in some cases) as well as 3rd party developers; and it also threatens retention of good talent
* or a combo of some or all of the above
Any of these actions will affect investors (as stated not all are wealthy; most are hard working middle class), and most certainly the little guy (whether consumers or employees.) So I don't see how raising taxes or cutting into executive compensation benefits the low and middle class or anyone for that matter. It merely serves to punish the wrong target(s). |
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| To: Force Majeure who wrote (210638) | 7/13/2021 4:33:49 PM | | From: Art Bechhoefer | | | | Intuitively, your evaluation is correct, but in practice, not so much.
"* raise prices on goods & services and punish customers, which could result in selling less products and less revenues
* absorb the costs and pass it along to investors thru reduced eps and/or dividend payouts in some cases
* absorb the costs and punish your work force thru reduced compensation (i.e. wages, raises and profit sharing in some cases) as well as 3rd party developers; and it also threatens retention of good talent"
Historically, higher tax rates on corporations didn't result in higher prices of their goods, unless they had a near monopoly in the market. Reduced eps have occurred mostly in the short run, but in the long run, where a corporation maximizes the taxpayer subsidy of its interest deduction on funds borrowed to expand, earnings more likely increase, especially in periods of low borrowing costs. As for punishing the work force, this has occurred mostly in response to declining union membership and the associated laws and regulations that discourage union membership.
Thomas Piketty's book, when it came out about five or six years ago, was powerful because of the humongus amount of data on which its conclusions were based. The idea definitely did not fit with the thinking of more conservative economists, yet the noted Economist publication, with a generally conservative economic view, was unable to present arguments that would dispute Piketty's conclusions. The key issue that Piketty presented was that a widening income gap produces lower economic growth. This is far more important than the effects of a change in the corporate tax rate. The recently signed executive order proposing steps to increase competition, along with the recently adopted legislation authorizing larger payments to households with children will more than likely reduce the income gap, leading to greater than expected growth.
I would add, though, that the action in the stock market in response to these changes seems to reflect the more conservative view that tax cuts are always preferred.
Art |
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| From: Moonray | 7/13/2021 6:28:43 PM | | | | | | Apple just released the MagSafe Battery Pack —
a $99 accessory that snaps to the back of an iPhone 12 to extend
its battery life. It joins the leagues of MagSafe accessories that
have been available since last fall. And it’s up for order right now,
with shipments starting next week.
It’s purpose-built for the iPhone 12 Mini, 12, 12 Pro and 12 Pro Max.
The MagSafe Battery Pack is only available in white and sticks with
a silicone design that adds a hump to the back of the iPhone. From
photos of the accessory, we can see that it features a 1,460mAh
battery— it remains to be seen what that translates to with daily use
of the product. For instance, the iPhone 12’s battery capacity is
2,815mAh, so this will provide about 50% of power to it.
Like the MagSafe charger or the MagSafe Duo, this can push out
15 watts to the iPhone 12 wirelessly. There’s a catch, though; you’ll
need to have it plugged into power to get the full 15 watts — when
just attached to your iPhone, it will push out a slower 5 watts. You’ll
need to connect a 20-watt brick in order to fast charge wirelessly,
like the ones we’ve tested here.
More at: Apple's new $99 battery pack will make your iPhone 12 last longer
o~~~ O |
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| From: Doren | 7/14/2021 11:33:25 AM | | | | | | Facebook Users Said No to Tracking. Now Advertisers are Panicking
People give iOS apps permission to track their behavior just 25% of the time
Most retail websites include Facebook software that sends detailed customer data back to the social network, including when a Facebook user makes a purchase. Facebook can then use that data to better understand what a retailer’s target customer looks like, and show that retailer’s ads to other people on Facebook who match that profile, known as a “lookalike” audience.
But as people have asked Facebook and other apps not to track their behavior, the social networking company has started to lose access to this data. Gil David, a media buyer at Run DMG who spends about $1 million on Facebook ads per month for clients, said the company used to know about the vast majority of his client’s sales. Now that data is inconsistent. With one larger client, Facebook captured just 64% of sales. With a smaller client, just 42%.
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Now if you're an iOS user you can enjoy ads that don't target you...
Guys can enjoy getting ads for tampons...
Young people can enjoy getting ads for safety underwear...
It'll be a beautiful world again. |
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| To: Doren who wrote (210642) | 7/14/2021 11:54:51 AM | | From: Stock Puppy | | | | Now if you're an iOS user you can enjoy ads that don't target you...
Guys can enjoy getting ads for tampons...
Young people can enjoy getting ads for safety underwear...
It'll be a beautiful world again.
Depends if you do it with Poise... |
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| To: Doren who wrote (210642) | 7/14/2021 12:22:52 PM | | From: Zen Dollar Round | | | | Now if you're an iOS user you can enjoy ads that don't target you... Guys can enjoy getting ads for tampons... Young people can enjoy getting ads for safety underwear... It'll be a beautiful world again.
At the very least, it should make for some interesting and funny memes from the younger generations. |
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