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Very Hot Topic (More than 25 Replies) Why the market/economy isn't crashing (Read 703 times)
kaz
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Re: Why the market/economy isn't crashing
Reply #20 - Jan 11th, 2020 at 3:57pm
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SkyChief wrote on Jan 11th, 2020 at 3:29pm:
Hypothetically, if we earned roughly $95k per year, we would owe roughly $30k in taxes.  If we made $28k in social security benefits, it would roughly almost offset our $30k tax liability.  Roughly.

Hypothetically, of course.  Wink


I don't know where you got those numbers, but if you took the standard deduction since you said you're married and if you hypothetically earned $95K, then you'd pay $11,343 in Federal taxes, not $30K.  You have to earn $160K before you even start paying 30%.  Also, again, that's standard deduction.  Since you itemize, you must pay less than that if you earned $95K.  With interest (you said you pay a mortgage), real estate and California income taxes even with the $10K cut off, you must deduct a boat load.

And since you said combined social security, you must make more like $60K a year unless your wife was a stay at home mom.  But then, you wouldn't have said "combined" social security.

No, your numbers are not possible
  

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SkyChief
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Re: Why the market/economy isn't crashing
Reply #21 - Jan 11th, 2020 at 5:05pm
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kaz wrote on Jan 11th, 2020 at 3:57pm:
I don't know where you got those numbers, but if you took the standard deduction since you said you're married and if you hypothetically earned $95K, then you'd pay $11,343 in Federal taxes, not $30K. . . .
No, your numbers are not possible
I wish our Tax guy was as smart as you, kaz!
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Why the market/economy isn't crashing
Reply #22 - Jan 11th, 2020 at 5:17pm
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kaz wrote on Jan 11th, 2020 at 1:16pm:
This is a symptom, not the disease.  It's an appropriate response to interest rates. 
I agree, the disease is the Fed's control of interest rates.
  

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Jeff
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Re: Why the market/economy isn't crashing
Reply #23 - Jan 11th, 2020 at 5:19pm
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kaz wrote on Jan 11th, 2020 at 2:14pm:
I'm not arguing inflation doesn't exist.  But it didn't double in 10 years much less the 7 Jeff claimed when he said real inflation is 10% a year.
Shadow stats show it to have been over 10%/year, year after year, for a long time.

Please stop claiming that I've claimed something that I haven't claimed. Angry Angry Angry
  

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Jeff
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Re: Why the market/economy isn't crashing
Reply #24 - Jan 11th, 2020 at 5:23pm
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kaz wrote on Jan 11th, 2020 at 1:16pm:
it's logical for corporations to carry more debt when interest rates are lower
It's common for everybody to carry more debt when money is cheap, and the Fed has been keeping money cheap, and plentiful.

What's the business plan going forward? Hope for enough profit to pay off the loans?
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #25 - Jan 11th, 2020 at 6:56pm
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SkyChief wrote on Jan 11th, 2020 at 5:05pm:
I wish our Tax guy was as smart as you, kaz!


It's all on the internet.   Sounds like you need a new tax guy if you're paying those rates.

So do you pay him and he sends in the money?
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #26 - Jan 11th, 2020 at 6:57pm
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Jeff wrote on Jan 11th, 2020 at 5:19pm:
Shadow stats show it to have been over 10%/year, year after year, for a long time.

Please stop claiming that I've claimed something that I haven't claimed. Angry Angry Angry


You keep posting that nonsense, of course you were endorsing it
  

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kaz
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Re: Why the market/economy isn't crashing
Reply #27 - Jan 11th, 2020 at 6:59pm
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Jeff wrote on Jan 11th, 2020 at 5:23pm:
It's common for everybody to carry more debt when money is cheap, and the Fed has been keeping money cheap, and plentiful.

What's the business plan going forward? Hope for enough profit to pay off the loans?


I gave you a link that explained it.  That's basic business school fodder.   I did say you wouldn't read it and if you did you wouldn't understand it.

I'm not going to claim the Chief's strategy of making an accurate prediction on that.  It was too obvious.

But if you understood the link, it would have explained it to you.  But what you're advocating is they pay equity returns, which is higher cost.  Paying more for the same thing is how you ... lose ... money, Hillbilly Market Prognosticator
  

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Jeff
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Re: Why the market/economy isn't crashing
Reply #28 - Jan 11th, 2020 at 7:04pm
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kaz wrote on Jan 11th, 2020 at 6:57pm:
You keep posting that nonsense, of course you were endorsing it
Well, since I know how they arrive at the figures, and I know what information they use as input, I do trust what they tell us.

It is certainly more true that the BS our governments shovel out now. Cry
  

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Jeff
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Re: Why the market/economy isn't crashing
Reply #29 - Jan 11th, 2020 at 7:05pm
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kaz wrote on Jan 11th, 2020 at 6:59pm:
I gave you a link that explained it.
Then you should easily understand what I said. Smiley

Edit: Wait! You didn't read the link you posted, did you... Tsk tsk.
  

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