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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: rdkflorida2 who wrote (12438)	11/30/2021 10:52:51 AM
From: Kirk ©	Respond to of 26439

You're welcome. Thanks for allowing me to post my two cents worth. I think the traditional Republicans hated Trump as much for these tariffs as the Democrats hated him for being Trump. Anyone who thinks 30% to 100% tariffs are not part of current inflation needs to take an economics 101 course. I agree. For example, has Biden reduced or eliminated any tariffs? Tariffs were traditionally the Democrats way to appease union money for support and I have not read of any going away... but could be wrong.

To: rdkflorida2 who wrote (12438)	11/30/2021 11:02:45 AM
From: Kirk ©	Read Replies (1) \| Respond to of 26439

The economy is booming in CA too. The economy is booming. Friends in Michigan tell me it's gonzo good We have a HUGE surplus that the special interest groups are fighting over to get larger pieces of while the politicians skip the obvious uses such as lowering taxes to ease the burden of massive inflation and using some of the surplus to shore up the under funded pension funds. Instead they have voted to allow the CALPERS pension fund to borrow money to buy more risky assets, which I think are in a bubble of their own due to so much excess liquidity. Now we need to go back and discuss the cash/underground economy. We had a decent discussion on this topic on this board years ago. It needs to be addressed, if for no other reason tax avoidance/evasion. Reduce or eliminate the Federal Income Tax and go to a national sales tax. That makes sense but I don't see the government giving up on one channel of tax collection. My guess is they will add a sales tax, maybe to fund health care, then watch it grow each year just like the personal income tax rate started at a couple of percent on the very wealthy and grew to be much larger. Taxes are so high here that I've been told that some restaurants frown if regular takeout people pay with a credit card rather than cash. I've heard dentists will negotiate for service if paid with cash too. A friend got a quote for landscaping that had 56 hours at $100/hr.... he decided to not do the work rather than ask if that was a mistake... I think some are so booked with work that they quote huge prices and take those willing to pay... ie price gouging which ads to inflation.

To: rdkflorida2 who wrote (12438)	11/30/2021 11:12:28 AM
From: Kirk ©	Read Replies (1) \| Respond to of 26439

One more... that was a good post! Anyone who thinks 30% to 100% tariffs are not part of current inflation needs to take an economics 101 course. Good article in the SJ Mercury Opinion section from Bloomberg... Biden’s inflation pitch doesn’t pass laugh test ‘BUILD BACK BETTER’ CLAIM By Ramesh Ponnuru President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project. snip... Targeted deregulation and tariff reduction would ease some supply shortages. More automation of ports would improve their efficiency, but unions have resisted it and the bipartisan infrastructure bill Biden signed on Monday blocks any funds from going toward it. The Democratic party’s interest groups and ideology combine to stop it from fighting to cut costs. snip... The truth is that the Democrats aren’t pursuing this bill in the spirit of meeting a national objective. They’re just trying to cram as much of the progressive agenda as they can get through Congress before Republicans can end their control of it in the next election. That’s not the kind of advertising pitch likely to work on the public, though. And so we have ended up with the president pretending that this bill is his big idea to whip inflation. So, do you think President Biden: is lying and understands the issues? "needs to take an economics 101 course" other? So the lower paid checkers and tellers can have their jobs automated away while highly paid crane operators won't see their jobs automated and the president wants to codify this into law?