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Old 12-27-2018, 05:19 PM
 
73 posts, read 16,104 times
Reputation: 114

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Quote:
Originally Posted by RationalExpectations View Post
Respectfully, that is untrue.


Please study the University of Pennsylvania Econometric Model of the US Economy. The relationship between taxes and growth is very well understood.


https://www.worldscientific.com/doi/...230545_fmatter
Yes the Wharton model is a well respected macro economic model but I understand that even it has various adjustable parameters. I have used engineering FEA models and the science behind these is better understood that that behind economic models. Perhaps you have more experience with the current state of economic models and can advise accordingly.

My comments were also a reflection of correlational studies on historical growth rates such as this one here
Growth vs. Tax Rate

My original comments were also directed at an earlier post that essentially claimed that the only way to increase demand was more jobs and the only way to do that was to lower taxes.

I understand that the Wharton model showed that this was not the case as for example the 2016 Clinton policies would likely give lower growth rates in the short term with higher growth in the long term. For the Trump policies it predicted the opposite.
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Old 12-27-2018, 07:28 PM
 
Location: Cebu, Philippines
2,826 posts, read 1,029,282 times
Reputation: 5467
Quote:
Originally Posted by lieqiang View Post
Hello false dilemma. You don't need a cell phone to bank online, but even if you did how many people who bank online with a cell phone wouldn't have that cell phone anyway? Your example is so obtuse you might as well complain about the unwanted features of cars contributing to the cost of a cheeseburger.
Yes you do. My US bank will not log me in for online banking without a texted security code, every time, and it has to be to a US number with text access. I have to phone them with a voice call to manage my account. They apologize for the inconvenience, but admit I am SOL. All banks in the Philippines do the same. As for "how many people", my wife and I share one phone, so if she is out, I can't log in to the bank until she comes home with our phone. So to my diminishing returns, now add a second cellphone, with a US SIM card, useful for only a single purpose.
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Old 12-28-2018, 01:02 AM
 
7,473 posts, read 8,352,761 times
Reputation: 5606
Quote:
Originally Posted by Maddie104 View Post
Yes, I really understood what IT was trying to accomplish. How is a cost/benefits analysis being on the "cheapish" side? It was open to review by the IT department. So, you generalize and stereotype me as cheapish based on your wife's (not even your personal) experience. Did you review her cost/benefits analysis or did you take her word for it that they were stonewalling and there was a good ROI?

I can tell you from my personal experience, IT sometimes wants upgrades with marginal business value to increase their marketplace value by listing the newest technology on their resume. I was head of a large department and did a cost/benefits analysis on all budget items I proposed subject to approval.
1). Open and reviewable cost benefit analysis is clearly legitimate and valuable.
2). I didn't claim that you are cheap you openly stated that you are cheap with examples - what was it a flip phone, old washer, dryer and car?
3). Yes I have fairly clear visibility into my wife's work from three angles I'm an small time investor, a consultant to the board on economic issues and I actively help my wife with various tasks. Regarding the most recent painful issue I didn't/don't need to take my wife's word for anything. The CEO was early retired by the board, years ahead of plan. The CFO who was next in line was informed that he would not become CEO, he's leaving in a couple months and two others were simply fired. In essence these people killed or truncated roughly $3MM in IT spends that in short order cost the company many millions in provable loses, two embarrassing and somewhat public data breaches and the kicker is all this lead to the company losing tens of millions in value.
It's tough to place ROI value on things like data breach avoidance costs, company wide related training etc.
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Old 12-28-2018, 08:39 AM
 
Location: Thailand
5,183 posts, read 2,470,872 times
Reputation: 9516
Quote:
Originally Posted by cebuan View Post
Yes you do. My US bank will not log me in for online banking without a texted security code, every time, and it has to be to a US number with text access. I have to phone them with a voice call to manage my account. They apologize for the inconvenience, but admit I am SOL.
You aren't SOL, you're just naive. Use Google Voice.

Quote:
Originally Posted by cebuan View Post
As for "how many people", my wife and I share one phone, so if she is out, I can't log in to the bank until she comes home with our phone. So to my diminishing returns, now add a second cellphone, with a US SIM card, useful for only a single purpose.
Well there go, the answer to how many people don't understand technology is now up to at least 2, you and your wife. Google Voice.
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Old 12-28-2018, 11:13 AM
 
434 posts, read 91,509 times
Reputation: 589
Quote:
Originally Posted by EDS_ View Post
1). Open and reviewable cost benefit analysis is clearly legitimate and valuable.
2). I didn't claim that you are cheap you openly stated that you are cheap with examples - what was it a flip phone, old washer, dryer and car?
3). Yes I have fairly clear visibility into my wife's work from three angles I'm an small time investor, a consultant to the board on economic issues and I actively help my wife with various tasks. Regarding the most recent painful issue I didn't/don't need to take my wife's word for anything. The CEO was early retired by the board, years ahead of plan. The CFO who was next in line was informed that he would not become CEO, he's leaving in a couple months and two others were simply fired. In essence these people killed or truncated roughly $3MM in IT spends that in short order cost the company many millions in provable loses, two embarrassing and somewhat public data breaches and the kicker is all this lead to the company losing tens of millions in value.
It's tough to place ROI value on things like data breach avoidance costs, company wide related training etc.
I don't want to belabor this issue as my perspective was a review of software modules for my business needs that was part of an enterprise wide upgrade so it was fairly narrow in scope.

My point in listing those items was in response to the previous poster's statement that contributing to middle class struggles was costly technology upgrades are being forced onto people to conduct on-line transactions. If someone is struggling financially, I listed ways to accomplish common tasks at minimal expenses. Not sure how maintaining my 14 year old car in peak condition is being cheap or any of the other items for that matter. I was separating needs vs. wants.

And, yes, you labeled me, I did not label myself.
"You being personally on the cheapish side of things would be a big time red-flag to me."

Last edited by Maddie104; 12-28-2018 at 11:50 AM..
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Old 12-28-2018, 06:36 PM
 
Location: Cebu, Philippines
2,826 posts, read 1,029,282 times
Reputation: 5467
Quote:
Originally Posted by lieqiang View Post
You aren't SOL, you're just naive. Use Google Voice.
If your intent is to be helpful, please explain how to receive a text message using Google Voice.

Apparently I do not write my posts clearly enough for them to be understood. I already use GV for voice phone banking, since online banking is closed to users without a USA Sim card. It was the bank that said I was SOL.

The appeal of online bankimg was that could be done without a phone, just internet connection. But it requires a phone anyway, and my household, naively. does not have enough of them..

Last edited by cebuan; 12-28-2018 at 06:50 PM..
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Old 12-28-2018, 09:49 PM
 
Location: Thailand
5,183 posts, read 2,470,872 times
Reputation: 9516
Quote:
Originally Posted by cebuan View Post
If your intent is to be helpful, please explain how to receive a text message using Google Voice.
My intent was to heap scorn upon your claim that technology is making things ore expensive because you need to have a cell phone with US sim card to be able to bank online. We used to not even have online banking, but now that it's available you seem to believe your personal challenges in using it have somehow made it more expensive for everyone.


Quote:
Originally Posted by cebuan View Post
Apparently I do not write my posts clearly enough for them to be understood. I already use GV for voice phone banking, since online banking is closed to users without a USA Sim card. It was the bank that said I was SOL. The appeal of online bankimg was that could be done without a phone, just internet connection. But it requires a phone anyway, and my household, naively. does not have enough of them..
If you have Google Voice you can receive text messages in your browser at voice.google.com.
You do not need to have a US sim card or cell phone to have Google Voice.
Therefore online banking is not closed to users without a USA Sim card.

I currently don't have a USA SIM card and don't live in USA, yet I receive text messages for the two-step security to bank online and manage my investments.
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Old 12-30-2018, 06:51 PM
 
8,593 posts, read 7,583,760 times
Reputation: 18660
Quote:
Originally Posted by Good_Teacher View Post
I look at the year 2000 as the end of the good times for the average American. Since then we have had a jobless recovery that has really only helped an elite.

False. The U-6 official jobless rate, has been on the way down and the U-3 unemployment is the lowest it has been in the last 20 years.

Unemployment Rate - US | Portal Seven

The U-6 rate which includes those actively seeking work, discouraged workers, and those working part time but want full time work. It is at the lowest it has been since 2000.

U6 Unemployment Rate | Portal Seven


The standard of living for the typical American worker has gone down hill.

This depends on what part of the country you are living in. This chart will show the salary comparing cost of living in two cities.

https://www.bankrate.com/calculators...alculator.aspx

Utility and energy bills are going even higher gasoline is moving towards $4.00 a gallon,

Gasoline is not going towards $4 a gallon. In fact it is down all over the nation, it is below the cost a week ago, all under $3 a gallon except California which has excessive taxes on Gasoline. In fact it is down from a year ago in all but three areas of the country where it is 2 cents per gallon higher than last year at the maximum.

https://www.eia.gov/petroleum/gasdiesel/

borrowing costs are high and the availability of credit is falling.

Again false information. Mortgage interest rates are far lower than in the past.

https://www.valuepenguin.com/mortgag...mortgage-rates

Latest mortgage interest rates.

https://www.bankrate.com/finance/mor...est-rates.aspx

I spent from 1972 until I retired as an Investment Real Estate Broker. I wish I was able to operate then at today's mortgage interest rates.

While our federal income taxes have fallen somewhat, we are being hit by so many hidden taxes and rapidly rising local and state taxes and surcharges.

Those type of high taxes, are only true for small areas of the country. California is the worst at this, especially in my old part of the country where I raised my family, the Silicon Valley. And as some recent articles site, which is causing middle class Californians to leave the state for a better life other places in the USA. California for years, has had a steady negative migration with more people leaving the state for other states, than have been moving to California from other states. California has been increasing in population only because of people going to California from other countries, particularly from south of the border, often illegal.

All these costs make our standard of living continue to drop. How can America ever recover from this?


You are completely wrong on your claims as these links prove. You are like chicken little, running around crying, "The sky is falling. The sky is falling.
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Old 01-01-2019, 09:03 AM
 
24,351 posts, read 31,604,582 times
Reputation: 29408
Quote:
Originally Posted by cebuan View Post
Yes you do. My US bank will not log me in for online banking without a texted security code, every time, and it has to be to a US number with text access. I have to phone them with a voice call to manage my account. They apologize for the inconvenience, but admit I am SOL. All banks in the Philippines do the same. As for "how many people", my wife and I share one phone, so if she is out, I can't log in to the bank until she comes home with our phone. So to my diminishing returns, now add a second cellphone, with a US SIM card, useful for only a single purpose.
Neither of my parents have a cell that accepts texts. They bank online fine without one, and have for years. All you have to do is use your landline number or email. I’ve done it that way myself for years as I despise having to give my cell # to companies.
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Old 01-03-2019, 02:08 PM
 
80 posts, read 13,015 times
Reputation: 68
Ill run it down as I see it.

The middle class was killed when corporations realized they control wages and set employee market value therefore unless the industry as a whole starts to move, wages will not rise. We are not as valuable to our employer as we employees like to think we are. Most real decisions are done by upper management and senior level managers from their prospective. If your not in this group then your expendable.

Additionally, we now all accept that corporations have no obligation to their city, community, employees, or customers they serve. They only serve share holders, and share holders could care less how "good" of an employee you are if your not in senior management. And our supreme court has made corporation speech more powerful than their employees so your not even needed for lobbying. At least that could have provided some pressure to corporations to adopt more labor friendly policies.

For the last 2 years the unemployment rate has remained at record lows yet there is little pressure to raise wages. Hence there is no reason to raise wages higher than the base level to recruit for a position. I starting to feel like this cycle of boom-bust-boom is purposeful. Many now rely on 401k for retirement but its hard to demand raises when your retirement gets wacked every 10 years and you fear losing a job with little retirement money. You become a high skill, underpaid employee who is trapped.
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