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Non-Tech : Kirk's Market Thoughts
COHR 174.82-2.0%1:56 PM EST
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To: robert b furman who wrote (26693)12/5/2025 3:04:06 PM
From: Kirk ©  Read Replies (2) of 26779
 
Thanks for your Stinky list. <grin>

I'm listening to Dr. Ed Yardeni talking about how us Boomers are spending money like crazy but since we own equities our net worth continues to go up.

I think that will continue to encourage Socialists, Commies and other groups of envy look to raise our taxes to give them money to buy homes or subsidize their lifestyles. That will probably mean even more income tests and higher prices for Medicare and capital gains. Funny I didn't hear any of the AOC crowd complain about how the cost component of Medicare and double, triple or more from IRMAAs that hit us when we take money from our IRAs... pushing us into SIGNIFICANTLY higher tax brackets than when we put the money in (heck, I had such a large mortgage that my tax rate was fairly low back in the 1990s... )

One idea just popped into my head: If the government wants to stimulate the economy and not take a current year tax hit, then let seniors take $10K, $20K or even more out of their IRA TAX FREE for a one-time stimulus... or perhaps to satisfy AOC and Bernie, tax it at 10% no matter what income level they are in. I'd take the 10K at 10% in an instant and buy a US Treasury note until I decided how to spend it... on that $10K, CA would probably get its 9.3% from most of us and then when we spend the remaining $8K... I'd pay a local sales tax of nearly 10%. That would get about $3K into taxes and $7K into the CA economy for every $10K.

It solves the problem of printing money via the Fed causing rates to go up as many of us would buy more US Treasuries to keep the CA tax on the interest at zero while giving a significant stimulus to the economy.
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