[jimjamuser]

Originally Posted by rsmurano

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.

A very good summary of GOOD investment policy. Kudos.

[Normal]

Originally Posted by Whatnext

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

Like when we used to have Russia known during its strong arm days as the USSR. You know, the Union of Soviet Socialist Republic otherwise known as the USSR?

[jimjamuser]

Originally Posted by Cindy Conwell

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...

Using AI and robotic properly, the US could make goods cheaper than China. Don't forget China's market (which is us) is an OCEANS trip and cost away. So, we have that advantage when we MAKE goods ourselves and SELL goods to ourselves. When we 1st started outsourcing to China, they were a WEAK military power. Trade with us MADE them STRONG. Now they are a strong military power. And they threaten us. Where were the ROCKET SCIENCE POLITICIANS that did NOT see this coming? It was pretty obvious. Now we are in a"PICKLE"......as they say!

[Aces4]

Originally Posted by Packer Fan

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.

Excellent post! I encourage you to repost this under the thread in this forum: "Global mfg will never relocate". Feet on the ground know more than those observing from afar.

[dewilson58]

Originally Posted by jimjamuser

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.

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

Tax brackets increase.

[jimjamuser]

Originally Posted by rsmurano

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.

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.

[dewilson58]

Originally Posted by jimjamuser

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

I doubt we will see fewer Canadian Snowbirds next year.

[dewilson58]

Originally Posted by dewilson58

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

Tax brackets increase.

1970 thru 1976 top tax bracket was 70%.
Then the bracket was adjusted for inflation.

Then in the 80's it dropped to 50%, but still higher than all lower income rates.

[Pugchief]

Originally Posted by Whatnext

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

Potato / Potahto

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

[jimjamuser]

Originally Posted by Normal

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

True. There are complications. I just tried to make a SIMPLE justification for the basic tax system.

[dewilson58]

Originally Posted by Pugchief

Potato / Potahto

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

Was always wondering the correct spelling for Patahto.

[Aces4]

Originally Posted by jimjamuser

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.

This reads like a sound-bite I heard lately. America's foot is fine, Canada has been, as we have, a great neighbor and when a deal is struck it will continue. I love our Canadian friends.

About Russia, there are so many sanctions in place now that little is left. But that little that is left is a great negotiating tool when those talks begin. We have stood through thick and thin with other nations throughout history and now they are trying to figure out how to throw us under the bus because we no longer will stick extra cash in their pockets?

Shame on America for correcting a wrong and wanting equality for trade, an issue which has gone on for years. What are we thinking?

[jimjamuser]

Originally Posted by Normal

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.

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.

[Normal]

Originally Posted by dewilson58

I doubt we will see fewer Canadian Snowbirds next year.

Canada cooked its own goose. Let the Loon crash. With their dollar weaker than ever they won’t be able to afford the US, much less circumvent the new immigration rules.

[dewilson58]

Originally Posted by jimjamuser

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.

Not a significant problem in the USA.

In the United States, a very small percentage of people, likely less than 0.1%, possess a net worth of $5 million or more.