Originally Posted by bopat (Post 2421902)

Most people, including me, have a mix of stocks, bonds, money markets and cash.

Not a problem to rebalance and take advantage of the perceived short term panic.

Originally Posted by Michael G. (Post 2421762)

We all came into this world with nothing, and it looks like we'll all go out the same way.

Originally Posted by Stu from NYC (Post 2421943)

SIL = son in law

Originally Posted by Cliff Fr (Post 2422110)

IMO with the exclusion of solid dividend paying stocks, the market is a lot like Las Vegas. It has little resemblance to the what the hard working labor class workers are faced with in their daily lives. For individual investors it's almost like a Ponzi scheme. For institutional investors like Goldman Sachs with super computers its a profit making machine. The bad thing for our economy is that whatever "profits" are made by "playing" the stock market are not earned. Nothing was produced to earn that profit and no service was provided to earn that profit.

Originally Posted by rsmurano (Post 2422069)

Why do you think we will pay more in the long run? Do you really think this move is for us to pay more? You’re way off! We still have Trumps 1st term tariffs in place today, has that made us more poor? Nobody even knows these still are in place. My prediction is that our most traded-with countries will be negotiating for 0% tariffs, for both us and them. Do you think it’s fair for our farmers/auto makers/or any manufacturer in the US to have countries apply tariffs on our products? Of course not and that’s what’s going on now. FREE trade between everybody is the goal then everyone benefits.

Originally Posted by Caymus (Post 2421999)

And some of it may even be correct:D:D:D:D:

Originally Posted by kingofbeer (Post 2422006)

Unrealized capital gains inherited by heirs have not been taxed yet.

Originally Posted by J1ceasar (Post 2422057)

Because it's supposed to stop wealth from accumulating unendingly and to distribute some of the assets from the rich to the poor. England has had this problem for centuries when money goes to the family but they keep dying off and it gets taxed and taxed and taxed. It's a very common plot in English movies and books

Originally Posted by MorTech (Post 2422004)

I think they left due to the political terrorism of the regulatory state more so than tax rate. With the Chevron Deference overturned they have incentive to come back despite tax theft. The tariffs are additional incentive. Business tax should be 0% since it is just an additional tax on income of productive individuals. We get taxed twice and most people can't figure that one out.

Originally Posted by kingofbeer (Post 2422007)

They moved overseas because it was more profitable for the companies. Labor unions are still very active in the US.

Originally Posted by jimjamuser (Post 2422215)

That is actually easy to figure out. Taxes are ARBITRARY. There is no rhyme or reason, just a METHOD to get revenue for the Government. We all NEED a military. So, they MUST be paid. There must be a tax system. No system would be PERFECT!

Originally Posted by kingofbeer (Post 2422008)

Taxes are to keep the government running. You are referring to an inheritance tax. The first $13,990,000 of an estate is exempt from federal estate taxes. So you probably don't have to worry about that.

Originally Posted by jimjamuser (Post 2422221)

I mentioned inheritance tax. I think that no amount of wealth should be able to pass down to the next generation........ZERO. Any other system will eventually result in a king or Dictator.

Originally Posted by Pugchief (Post 2422213)

So, basically communism?

Originally Posted by J1ceasar (Post 2422057)

Because it's supposed to stop wealth from accumulating unendingly and to distribute some of the assets from the rich to the poor. England has had this problem for centuries when money goes to the family but they keep dying off and it gets taxed and taxed and taxed. It's a very common plot in English movies and books

Originally Posted by rsmurano (Post 2422060)

Fear mongering at its finest. So what if the market goes down! It’s a buying opportunity for some of us.

How did you do during the 2020 covid downturn? Panicked? Shouldn’t have, we all knew that it was going to be a “v” shaped down and up and in a little over a few months, not a few years. The saying goes: “even a 9 year old knew this” and it was true.

If anybody is panicking because of this kind of downturn, you shouldn’t be in the market. This is when you can make good money. Your portfolio should be setup so you don’t have to sell 1 share to live on during these downturns.

Many many people will make millions over this. I got out late last year and I’m glad I did. I’ve been trickling putting money back in but still waiting for the true “pivot” point on when to be fully vested.

Originally Posted by Whatnext (Post 2422225)

No. A percentage is socialism.
If communism, they would take the lot.

Originally Posted by Cindy Conwell (Post 2422062)

Regarding "wrong horse being flogged." Manufacturing left the US for lower costs. We all have to agree on paying more to get it back. How much worse are we willing to take, to bring back decent paying jobs? I don't think we're willing to go that low...

Originally Posted by Packer Fan (Post 2422191)

I am retiring soon from a US based fortune 500 company (and I run the supply chain). We are a worldwide company but heavily US and made in USA on a lot of our product, but I have been to china 12 or 13 times - I have lost count. I can tell you that a 10% tarrif will change a lot of behavior, 20 is huge. 50% closes most of china. If the incentives are correct, companies would prefer to manufacture close to home. Transportation is not cheap. I lost 2 jobs to the chinese in 1999 and 2002. I know this game well and you are just dead wrong. The labor is an issue, but its a small one. There are huge incentives given by Chinese companies to sell cheap, and then they get the VAT tax handed to them (that is Trumps 10%) when they export. They can sell at cost, and make 10% just by exporting. Please insert just about any country name here, because they all have VAT taxes.
I have been about 20% away from reshoring several items, and now we are doing it. I can't wait to retire, but I do wish I could participate in this reshoring, it will be great. I don't always agree with Trump, but this is why I voted for him. I have played a rigged game for 40 years, moved my family across the country several times, been laid off because the game was rigged against American Manufacturing. For the first time, there is hope.

Originally Posted by jimjamuser (Post 2422217)

For all practical purposes UNIONS are DEAD. And the US middle class is DEAD because (to circle back) unions are DEAD. It all started around 1975 when tax brackets started to favor the RICH and OUTSOURCING began.

Originally Posted by rsmurano (Post 2422069)

Why do you think we will pay more in the long run? Do you really think this move is for us to pay more? You’re way off! We still have Trumps 1st term tariffs in place today, has that made us more poor? Nobody even knows these still are in place. My prediction is that our most traded-with countries will be negotiating for 0% tariffs, for both us and them. Do you think it’s fair for our farmers/auto makers/or any manufacturer in the US to have countries apply tariffs on our products? Of course not and that’s what’s going on now. FREE trade between everybody is the goal then everyone benefits.

Originally Posted by jimjamuser (Post 2422243)

......................Canada will NEVER trust the US again and cross border vacation travel will take YEARS to correct. ............................

Originally Posted by dewilson58 (Post 2422240)

"around 1975 when tax brackets started to favor the RICH"................?????

Tax brackets increase.

Originally Posted by Whatnext (Post 2422225)

No. A percentage is socialism.
If communism, they would take the lot.

Originally Posted by Normal (Post 2422220)

In the beginning, before anything else is going on. But then there are “fixes” that complicate things immensely.

Originally Posted by Pugchief (Post 2422250)

Potato / Potahto

The slope from "socialism" to communism is very slippery indeed.

Originally Posted by jimjamuser (Post 2422243)

That is a bright positive scenario that I HOPE happens, but I doubt that it does. America has shot itself in the foot, financially speaking. Canada will NEVER trust the US again and cross border vacation travel will take YEARS to correct. We will again take on the nickname of "ugly American. I noticed that Russia did NOT get ANY tariff. Why are we tariffing our friends and NOT our enemies? There are international psychology situations going on here. France wants to separate Europe from America because they can't trust America to keep its treaty promises. Personally, I think that it will take a LONG, LONG time to UNWIND this situation.

Originally Posted by Normal (Post 2422223)

Weren’t taxes on inheritance already paid by the person who earned the money? Pay taxes on that money again? I’ll stick to the Living Trust.

Besides, income taxes are already a form of robbing from a worker to pay for a “great idea” made up by the government. Recently we’ve found out how great some of the ideas really were.

Originally Posted by dewilson58 (Post 2422245)

I doubt we will see fewer Canadian Snowbirds next year.

:duck:

Originally Posted by jimjamuser (Post 2422258)

The basic idea of a "GOOD" tax system is that each NEW generation MUST start FRESH and earn their fortunes THEMSELVES with no money or property gifts from their parents. This ensures no LAZY future generations living off their family fortune. But, it is largely theoretical because there are many "workarounds" that the rich can use.