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Old 11-14-2016, 07:41 AM
 
1,097 posts, read 717,176 times
Reputation: 1720

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Quote:
Originally Posted by nicet4 View Post
Cutting taxes has always resulted in more money to the treasury and not less.
https://en.wikipedia.org/wiki/Laffer_curve



Cutting or raising taxes can have different effects depending on how high or low the taxes are (see image).

If taxes are 0% of income, there will be no treasury revenue (self-explanatory)

If taxes are 100% of income, there will also be no revenue, because the economy will come to a screeching halt.

So taxes need to be somewhere in the middle. But where in the middle is the thing to be determined, and the "curve" isn't known. Obviously, Democrats believe we are somewhat to the left of the peak and Republicans think we are to the right of the peak.

 
Old 11-14-2016, 07:57 AM
 
Location: Tennessee
23,601 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by TuborgP View Post
There are a lot of things in the Affordable Care Act that if fully repealed will come as a surprise to many. Most notably the ability to keep their children on their policies til age 26 and the renewed ability of insurance companies to turn people down because of pre-existing conditions.

Also requiring many a small business that employs fifty or more to offer health insurance to those working over 30 hours will go away. Those companies are subsidizing much of that cost and with repeal many will cease to offer insurance resulting in their employees going in the open market at full cost to themselves.

Oh yeah with group insurance you don't get turned down but with individual and full repeal they probably will. Yup lots of surprises.
Trump says he'll keep the first two. A person should be able to scrounge up a job with medical insurance by age 26, unless they are in some sort of academic program that takes a long time to complete, like medical or law school. I agree with keeping the preexisting condition portion as it is.

I don't consider a business with fifty employees a small business. With the economy improving, not offering health insurance is going to make it difficult to attract and retain workers.

Like I said, the ACA has brought benefits, but has also created additional costs and overhead, along with keeping in place a largely private system. If anything, we are getting fewer competitors in the market, not more, and increased monopolization of health services. It's introduced many new inefficiencies into a system that wasn't great to begin with.
 
Old 11-14-2016, 08:24 AM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by Serious Conversation View Post
Trump says he'll keep the first two. A person should be able to scrounge up a job with medical insurance by age 26, unless they are in some sort of academic program that takes a long time to complete, like medical or law school. I agree with keeping the preexisting condition portion as it is.

I don't consider a business with fifty employees a small business. With the economy improving, not offering health insurance is going to make it difficult to attract and retain workers.

Like I said, the ACA has brought benefits, but has also created additional costs and overhead, along with keeping in place a largely private system. If anything, we are getting fewer competitors in the market, not more, and increased monopolization of health services. It's introduced many new inefficiencies into a system that wasn't great to begin with.
I believe you follow the stock market if so what do you think of the total surge in the
Russell 2000 of late. Over 10% last week, up the tail part of the week before and as of right now up over 1% today. Why? I know you work during the day but I am retired and spend time listening to CNBC etc. a number of folks includeing Trump economic advisers have been on and they are touting the repeal of the ACA as being a boom for small business ( Russell 2000) they define small business differently than you might. Why a boom for them? Because they can shed health care cost with a resulting increase in profits and if a public company increased dividends.

On the other hand there are opinions like the following that advocate how small business would be hurt from repeal:
“Obamacare” repeal a disaster for small businesses | TheHill

This is from a Liberal blog and at times it seems like it may be more focused on the harm to the workers rather than the employer. Also there is the cost of compliance with implementing the act for the business. Right now the Russell is up 1.76% today.

To clarify I am talking small cap companies which for ACA purposes have two tiers. One at 50 and above employees and another at below 50.
Russell 2000 Index Definition | Investopedia
 
Old 11-14-2016, 08:36 AM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by Serious Conversation View Post
Trump says he'll keep the first two. A person should be able to scrounge up a job with medical insurance by age 26, unless they are in some sort of academic program that takes a long time to complete, like medical or law school. I agree with keeping the preexisting condition portion as it is.

I don't consider a business with fifty employees a small business. With the economy improving, not offering health insurance is going to make it difficult to attract and retain workers.

Like I said, the ACA has brought benefits, but has also created additional costs and overhead, along with keeping in place a largely private system. If anything, we are getting fewer competitors in the market, not more, and increased monopolization of health services. It's introduced many new inefficiencies into a system that wasn't great to begin with.
Remember the role of hedge funds, venture capitalist and activist investors has increased considerably. In recent years. It may well be them making the demand for fiduciary responsibility and the cutting of cost for profit and dividend increases. Many Investors are supposedly betting on that.

Full disclosure I am giving the current market a Bada Bing!
 
Old 11-14-2016, 08:45 AM
 
Location: Nebraska
363 posts, read 243,474 times
Reputation: 721
Quote:
Originally Posted by jim9251 View Post
Just give me back the entire amount I've paid into SS since I was 13 years old and I'm good. A lump sum would be fine.
WORD! I agree, please, just give me back what I put in, keep the interest even. I just want out.
 
Old 11-14-2016, 08:57 AM
 
Location: Tennessee
23,601 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by TuborgP View Post
I believe you follow the stock market if so what do you think of the total surge in the
Russell 2000 of late. Over 10% last week, up the tail part of the week before and as of right now up over 1% today. Why? I know you work during the day but I am retired and spend time listening to CNBC etc. a number of folks includeing Trump economic advisers have been on and they are touting the repeal of the ACA as being a boom for small business ( Russell 2000) they define small business differently than you might. Why a boom for them? Because they can shed health care cost with a resulting increase in profits and if a public company increased dividends.

On the other hand there are opinions like the following that advocate how small business would be hurt from repeal:
“Obamacare” repeal a disaster for small businesses | TheHill

This is from a Liberal blog and at times it seems like it may be more focused on the harm to the workers rather than the employer. Also there is the cost of compliance with implementing the act for the business. Right now the Russell is up 1.76% today.

To clarify I am talking small cap companies which for ACA purposes have two tiers. One at 50 and above employees and another at below 50.
Russell 2000 Index Definition | Investopedia
I don't follow the markets as closely as I used to but the Russell 2000 is going to be mostly small caps. They're likely of the opinion that if Trump targets any business, it's likely going to be large, mega-business, and they're also factoring in some regulation repeal.
 
Old 11-14-2016, 09:00 AM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by Serious Conversation View Post
I don't follow the markets as closely as I used to but the Russell 2000 is going to be mostly small caps. They're likely of the opinion that if Trump targets any business, it's likely going to be large, mega-business, and they're also factoring in some regulation repeal.
Regulation repeal but Larry Kudlow and the boys are heralding ACA repeal and Hedge funds, activist investors and indirectly pension funds forcing them to cut employee costs.
 
Old 11-14-2016, 09:02 AM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by TuborgP View Post
Regulation repeal yes but Larry Kudlow and the boys are heralding ACA repeal and Hedge funds, activist investors and indirectly pension funds forcing them to cut employee costs.
Remember profits not people when we think of OUR personal portfolios and pension fund investment returns.

This should have been added to my previous post not a reply. Fat fingers
 
Old 11-14-2016, 09:21 AM
 
Location: Living rent free in your head
31,097 posts, read 13,614,329 times
Reputation: 22152
Quote:
Originally Posted by SportyandMisty View Post
So, at the young age of 22, I decided that I would plan my financial affairs as if Social Security would never be there for me. If I was wrong, great, but if not, my plan was I would be OK.
That's good, you were very smart and obviously capable of getting a job that would allow you to save enough to have financial security in your retirement...but guess what, there are lots of decent people in this nation who get up every morning just like you do, they get dressed and they go to work very single day, but they clean toilets, operate cash registers or cook hamburgers. They struggle to sustain themselves and their families but are usually broke before payday. So instead of sharing your success story, why don't you tell us what should happen to those less fortunate than you?
The typical American couple has only $5,000 saved for retirement - MarketWatch
 
Old 11-14-2016, 09:45 AM
 
7,112 posts, read 9,352,884 times
Reputation: 8162
Quote:
Originally Posted by NewbieHere View Post
I don't think so. He said he would never do anything to SS. All scare mongering.
But "across the board" means "across the board." SS is a federal program so that would get cut along with everything else.


The bright side is that he never sticks to anything he says, period dot, and has no real plan of any sort. With that said, thanks Scrod my workplace uses the Social Security alternative plan instead of contributing to SS!
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