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JCTarheel82 said:
I'm not wasting four minutes of my life watching that so I'm just gonna assume that either 1) Pubs are pretending Trump wasn't President in 2020 again or 2) they're applying the fuzziest of maths.
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Stephen Moore is a Trumplican.

Worked for the “Club for Growth.” The Heritage Foundation. Trump’s 2016 campaign.
 
I've been day drinking since 7am so I hope you will indulge this old codger if I take a stroll down memory lane...

I was sitting on the deck of my beach front home at beautiful Topsail Beach with my best friend who was savvy when it came to investing. It was the summer of 2006 during the housing bubble. We agreed that when the housing bubble burst it would put to shame the tech bubble burst in 2002.

I told my friend that this house is so over priced, I'm thinking I should sell it. My friend said it was a no brainer. I did sell it before the burst of the housing bubble and the Great Recession

I recall this because I am feeling the same way about where we find ourselves today when it comes to the economy and the stock market.
We are riding the rocket like we did in 2002 and 2006. I fear we are will be on a similar path in 2026 ...but I could be wrong
 
I can get behind the idea of tariffs as solid policy, but not in the way they're currently implemented. Most economists believe that consumption taxes are more efficient than income taxes, as long as you take steps to minimize the regressivity. Further, targeted tariffs can help protect and rebuild domestic industries that maintain vital domestic supply.

Unfortunately, we've supercharged the regressivity of tariffs instead of mitigating them. And the haphazard way in which we've invoked them (and uninvoked and re-invoked, ad nauseum) means that foreign markets will have no choice but to substitute around American imports and exports as much as they can.
 
Huh? said:
I can get behind the idea of tariffs as solid policy, but not in the way they're currently implemented. Most economists believe that consumption taxes are more efficient than income taxes, as long as you take steps to minimize the regressivity. Further, targeted tariffs can help protect and rebuild domestic industries that maintain vital domestic supply.

Unfortunately, we've supercharged the regressivity of tariffs instead of mitigating them. And the haphazard way in which we've invoked them (and uninvoked and re-invoked, ad nauseum) means that foreign markets will have no choice but to substitute around American imports and exports as much as they can.
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This is fascinating. I’m not really smart or well-versed when it comes to economic policy but I’m intrigued by the notion that strategic tariffs can be better than taxing income. I did not know and had not really thought of that. I am definitely of the opinion that the way that we tax earned W2 income feels extremely punitive for the upper-middle and upper brackets, but I hadn’t really thought of a better way to do it.
 
Consumption tax proponents maintain that it promotes savings and investment. The main drawback is the regressivity - the poor have to pay a higher portion of their income on consumption than the rich do. The traditional methods to combat that are to exclude essentials from taxation - food, drugs, etc. and to increase the progressivity of the income tax.

It's important to remember economists are better expounding on theory than practical solutions. In real life, the VAT, which is a consumption tax, is probably the most universally despised tax around today.
 
heelinhell said:
I've been day drinking since 7am so I hope you will indulge this old codger if I take a stroll down memory lane...

I was sitting on the deck of my beach front home at beautiful Topsail Beach with my best friend who was savvy when it came to investing. It was the summer of 2006 during the housing bubble. We agreed that when the housing bubble burst it would put to shame the tech bubble burst in 2002.

I told my friend that this house is so over priced, I'm thinking I should sell it. My friend said it was a no brainer. I did sell it before the burst of the housing bubble and the Great Recession

I recall this because I am feeling the same way about where we find ourselves today when it comes to the economy and the stock market.
We are riding the rocket like we did in 2002 and 2006. I fear we are will be on a similar path in 2026 ...but I could be wrong
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Have you bothered to look at the trading valuations of the S&P. There are many companies, even among the mag 7, that aren't overpriced and have considerable room to grow with respect to P/E. A feeling isn't a sound investment strategy.
 
CFordUNC said:
This is fascinating. I’m not really smart or well-versed when it comes to economic policy but I’m intrigued by the notion that strategic tariffs can be better than taxing income. I did not know and had not really thought of that. I am definitely of the opinion that the way that we tax earned W2 income feels extremely punitive for the upper-middle and upper brackets, but I hadn’t really thought of a better way to do it.
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Spoken like a true republican who's spouse is likely to be in one of the higher brackets at some point in the future.
 
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