tag:blogger.com,1999:blog-6616959642391988608.post5751354996389486385..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Richer than everScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6616959642391988608.post-60696940138760334902017-06-14T23:46:40.015-07:002017-06-14T23:46:40.015-07:00Steve said: "Why is this stuff SO hard?"...Steve said: "Why is this stuff SO hard?"<br /><br />Because the process for governing has been corrupted. The checks and balances the Founders envisioned have been/are being eliminated. IMO the legislative branch has been overshadowed by the executive and judicial branch, the former by fiat, the later by decree. If it is to be restored, term limits and lobbying reform must be Bobhttps://www.blogger.com/profile/13648863027179033696noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38387290590364481282017-06-10T05:41:54.107-07:002017-06-10T05:41:54.107-07:00Scott, totally agree that a more fair tax would be...Scott, totally agree that a more fair tax would be elimination of ALL deductions-including state tax and mortgage interest. Of course, we both know that will NEVER happen so address what MIGHT happen. If DT with a GOP congress cannot even get some form of tax overhaul done, they won't get anything done. <br /><br />Why is this stuff SO hard?stevehttps://www.blogger.com/profile/07387986994469835875noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-72512505384311344112017-06-10T05:25:40.221-07:002017-06-10T05:25:40.221-07:00I agree with this post, and would add that all lay...I agree with this post, and would add that all layers of government, local, state and federal, should get out of the business of socialistic property zoning ASAP, and let free markets generate supply, which would reduce housing costs. <br /><br />The Fed needs to forget about whether 4% are unemployed, or 5% etc. The Phillips Curve is deader than Jimmy Hoffa. <br /><br />Egads, tight labor Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-60589780522933662052017-06-09T10:24:44.380-07:002017-06-09T10:24:44.380-07:00One way to address the unequal distribution of wea...One way to address the unequal distribution of wealth would be to reform the tax code along the following lines: severely reduce of eliminate deductions, lower and flatter tax rates, and reduce or eliminate corporate income taxes. That would broaden the tax base while simultaneously lowering marginal tax rates for the middle class. A less progressive tax code would make it much easier for Middle Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-9160891316645550082017-06-09T10:17:02.449-07:002017-06-09T10:17:02.449-07:00Wealth can be created but not spent. If capital ga...Wealth can be created but not spent. If capital gains taxes were eliminated, the value of the stock market was experience a one-time and significant increase. We would be more wealth as a country, but that would not necessarily translate into a similar jump in consumer spending, at least not right away. Wealth is forward-looking, since it is driven by discounted future cash flows. For spending toScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-8859225644973325242017-06-09T10:10:24.884-07:002017-06-09T10:10:24.884-07:00At this rate of top 1% wealth accumulation, I pred...At this rate of top 1% wealth accumulation, I predict further electoral revolts against what has already become a not-so-subtle oligarchical form of democratic republic. I'm all for free-market capitalism, but our current system of government will come under more strain unless this widening disparity is addressed. Houston Advisorhttps://www.blogger.com/profile/06242764620039019111noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-41162467462745912762017-06-09T09:23:46.036-07:002017-06-09T09:23:46.036-07:00Scott I completely agree with you, wealth has to b...Scott I completely agree with you, wealth has to be created to be spent -- hence the dilemma, since the wealth (mostly in stock market appreciation) is an asset owned principally by the 1% (and yes pension funds), but again, my comment was about distribution of wealth not about its creation. Finally, I agree that creative destruction is a founding principal of capitalism, but you too have to Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-83074485367308274762017-06-08T21:49:26.135-07:002017-06-08T21:49:26.135-07:00It's enough to look at the first chart and not...It's enough to look at the first chart and note the rise of financial assets compared to real estate to figure out the "wealth rise" was only for a small percentage of the population (there's various data to back this up). <br /><br />One of the results is the current POTUS. The majority can be ignored in obscure charts but not when it's time to vote.<br /><br />The TAX Royhttps://www.blogger.com/profile/09325498485905547125noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-54370282334226052752017-06-08T17:45:27.910-07:002017-06-08T17:45:27.910-07:00Frozen: you are forgetting the principles of suppl...Frozen: you are forgetting the principles of supply-side economics. Consumption does not drive growth or prosperity. The economy does not rely on consumption; consumption relies on production, supply, work, investment, risk-taking, productivity, etc. Production (supply) is the main driver of consumption and prosperity. You cannot consume if you don't produce. Wealth can grow faster than Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38774824154173631622017-06-08T17:21:56.754-07:002017-06-08T17:21:56.754-07:00Well wealth distribution matters when your economy...Well wealth distribution matters when your economy relies on consumption for 70% of its GDP...<br /><br />You are right that if you work at Google or Apple or any other high tech firm -- your future is bright, but if you were working in a steel plant, no so much. There is no doubt that America has an amazing ability to create wealth, although it has its limits, since Amazon is trading at 198x Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.com