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Non-Tech : Kirk's Market Thoughts
COHR 194.31+5.3%3:59 PM EST
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To: Arran Yuan who wrote (10392)9/28/2020 10:07:57 AM
From: Kirk ©1 Recommendation

Recommended By
Arran Yuan

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Great comment and welcome to our group! I don't remember you posting here before.

Without voting, the corruption can get worse as crooks jockey for government jobs where they steer the spending to firms they own. This is a HUGE problem in Asia where I can cite specific examples.

I've also learned that local politics is dominated by "corruption" where "volunteers" for nonpaying office seek rewards via things like outlawing NG in new construction or forcing the whole city to go to "green energy" sold by the green energy firm where our mayor is the CEO! I'm sure her compensation was partially tied to "new customer acquisition" where getting our whole city on board was a big win.

Even at our personal vote on the national level, how many of us once over age 50 join the AARP then push for making sure Social Security is funded for us when we get there? I have NO PROBLEM now forcing the middle income and high wage earners to pay the payroll tax for all their income... they did benefit from stock options and higher salaries not available to the working poor.... but when I was working those "payroll tax free months" after I passed the threshold were wonderful giving me cash to pay for my HO and auto insurance, Christmas gifts and maybe some more stocks in my taxable account.

At the 18 to 22 year old level where the activism here is immense to "solve climate change" by forcing CA to get off NG and use electric cars... CA makes 1% of the World's carbon so even a 25% reduction is less than noise in the carbon calculation but we'll pay 3 or 4 times more for energy while these kids show up at school on cold days in shorts because someone else pays for the power to keep them warm.

One high end realtor here is run by a tax attorney. Their latest ad is for a seminar on how to plan for the effective tax rate on selling our highly appreciated homes when the max tax on capital gains in the millions jumps from 37.1% to 60.2% if Biden wins. I can say with authority that the 37% rate is already enough to make the housing shortage great as many of us have huge gains on homes we've owned for decades yet if we sell and pay the tax, we'd have to get a much smaller home in not so nice a neighborhood and not have much money left over. Thus a reverse mortgage makes more sense for those who are not good at making money in the market to live on...

So, I just read in the paper that the realtors want to make the rule allowing us to transfer our lower property taxes to new homes in some counties to all counties in CA. Realtors want this to get more sales... but there is some resistance in low cost counties as it could cause "gentrification" there and push up prices and inflation in once "relatively" cheap places to live.

It is so complex! It is why I tend toward Libertarian and less government spending as there is less need to generate funds via taxes and less corruption that follows.
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