More indications that a recession is on the way. I priced business class tickets from the U.S. to Singapore (on a flight I took back in April), and the prices are down 50-60%. When international business travel slows down this dramatically, it is a good indication that companies are not doing so well, and wealthy people are pinching their pennies. Chemical product sales are also down, if it helps to get a second data point.
Trump is working on helping mansion owners to sell their houses without paying capital gains taxes, causing the federal debt to get bigger, while causing wealthy people to get wealthier. Maybe Trump will create massive amounts of inflation with his federal giveaways to the rich. Wouldn't that be fun for the middle and lower classes? https://www.marketwatch.com/story/h...capital-gains-taxes-for-home-sellers-7884bf19
In fairness, this one hits millions and millions of homeowners. I would bet that the number of people sitting on kore than a 250k gain in home price is in the tens of millions. Even middle class Florida homes have likely seen that in the last decade. And we shouldn’t be preaching the virtues of home ownership and then throwing an extra tax on them later for it. It will also help encourage home ownership in younger generations who can’t justify the cost. In the bigger picture, homeowners are 40 times wealthier than renters. And the government doesn’t even make that much on this anyway comparatively. Just because Trump is proposing it shouldn’t make it a bad thing reflexively, even a broken clock is right twice a day.
I can't believe it, but I do agree with a piece of legislation authored by Marjorie Taylor Greene. The value of homes are extremely inflated and they did not index the capital gains exemption with inflation. It also causes "lock in" since people will not sell to avoid the tax, causing inefficiencies in the housing market. I also understand the removal of the capital gains tax only applies to individuals and not corporations who own property. It actually seems like a good idea.
Yeah airfares are crazy low right now. I can get a round trip on Southwest from Texas to Florida for about $100. I normally pay $200-300 for it. Recession is coming. Trump's gonna have to fire more government statisticians.
More winning! Experts are now predicting the collapse of human civilization as a result of . . . well, Donald Trump. It was a nice few thousand years while it lasted, but its time for civilization to come to an end. I hope I can claim one of the nice caves. It's half past doomsday--do you know where your club and spear are? Expert Says a Specific Group of People Is Leading to the Collapse of Human Civilization
Regardless, it causes the federal deficit and federal debt to go up, which is one thing Trump said he was against. And it does help people with mansions more than it helps middle class homeowners.
More winning. Kentucky whiskey distilleries are going bankrupt. Apparently MAGA republicans are too cheap to buy whiskey to celebrate Trump's destruction of the U.S. economy. Who knew? https://parade.com/food/kentucky-whiskey-distilleries-bankrupticies
Elizabeth Warren comes up with a strategy to defeat MAGA republicans in the mid-terms. Simply state that Trump promised to lower prices on everyday goods, failed miserably, and then point out all of the ways that Trump has been helping billionaires while hurting regular people (cutting Medicaid, laying off Social Security staffers, etc.). I personally don't think the democrats NEED to point this out, as Trump has been terrible with his tariffs, his immigration Gestapo, his horrible foreign policy, etc. But it couldn't hurt. Blind people need help to see, I suppose. Democrats Have Found Their Message—and Trump Is Freaking Out | The New Republic
- Alcohol is poison and younger people are turning away from it in droves. This is a big reason sales are down.
You can’t use airline fares as an accurate indicator of the economy. Yes, anirfares are down 3.5% from last summer but at the same time airfares as a whole have actually decreased over 20% since 2015.
Here are the numbers, keep in mind this is just the 500k exemption and not those who qualify under the 250k (and in a world full of divorced folks there are many), but at it’s height last year, almost 30 percent of all sales in California for instance hit that threshold. The number hasn’t been adjusted since 1997 and look at what’s happened to home prices since then. It’s an antiquated law at best. As far as cost, the benefits to the larger economy would offset the costs if it helped loosen up a housing market that’s been stuck for over a decade now. And unlike trickle down economics,if a whole class of people suddenly had money in their pockets and not tied up in their homes, spending would inevitably go up. homeowners pay capital gain taxes due to strong price growth like I said, worthy ideas can sometimes come from very unlikely places. The idea is more important than the messenger(s) here.
Karl Rove predicts a democrat landslide in the mid-terms. Trump's horrific (un)popularity ratings will be his undoing. Aside from a few ignorant die-hard loyalists, most people are recognizing that Trump has been a failure. Economy, foreign policy, Ukraine, you name it, Trump has failed miserably. Rove expects independents to swing the elections towards the democrats. At this stage in his term, Trump is the most unpopular president in history. Trump's biggest failures have been on controlling inflation and handling the economy. Karl Rove Reveals Trump's 'Big Mistake' That's About To 'Bite' Republicans
