– The first round of carbon pricing in Washington is in the books.
– When taking the 43, it’s nice to know if the bus is late because the bridge is up, or because it’s the void.
– The tax advisory votes are silly and wasteful.
– Please wash your hands right now. And get vaccinated or boosted if you’re eligible.
A few minutes ago Queen YLB referred to “the Biden economic miracle”
In an effort to keep low information voters like Queen YLB from understanding the truth, First Vegetable Joe Biden wants $2 trillion in new taxes. ’cause not spending stupidly is beyond his grasp.
Biden set to unveil more than $2 trillion in tax hikes in budget
He couldn’t pass it when his party controlled the House but Queen YLB doesn’t understand that, and will blindly cheer wildly at this warmed-over nonstarter:
Any moment someone’s gonna claim he dumped TSLA LAST Monday and managed to break even on the December holdings.
@ 2
Naw. Queen YLB has the database. I’ll take my lumps. Whatever happens, it won’t be nearly as bad as what happened to Robinhood Dumbfuck Rabbit with GE. What a shitshow that was for him.
Kreepshit is such an ahistorical little court fool…
raising the top marginal income tax rate from 37 percent to 39.6 percent
Bill Clinton did the same.. the kreepshit types called it “class warfare”, said it would kill the economy.. What happened to the economy in Bill’s second term? (Sorry kreepshit, Starr auditioning for Epie’s hot tub and free massages doesn’t count.)
and raising the corporate tax rate from 21 percent to 28 percent.
Gee.. Same as it was under papa bush and little shrub… Dang, even Manchin is for that. Sinema? Pffft.. What a “winner” of a tool.
And doing something to save Medicare? Highly “unpopular” with folks who vote.. yawwwn..
“the Biden economic miracle”
Yeah the economy the Fed is trying and so far failing to kill despite the most rapid rise in interest rates since Volker.
All kinds of signs their shit is working: factory orders way down, corporate bankruptcies up. But no… Too many ordinary people are actually making a living in Biden’s economy.
We’d be better off if Trump had been re-elected.
From previous thread
Maybe if the Dumbfuck wasn’t a Dumbfuck then he’d realize I don’t have a third mortgage. And my loan is a fixed rate at 3.5% I think or maybe it is is 4.0%, off hand I don’t recall…I don’t need to recall. It’s a steal!
Footnote to the Doctor Dueschbag. In addition to paying my Principal and Interest payment, I am comfortably making a 15% extra payment towards principal each month….and If I really wanted I could probably increase that such that I am paying 30% extra of my payment towards principal.
I think he should spend more time worrying and helping those with the Hetero Neanderthal STD Virus.
On CNBC this morning Hakeem Jeffries was interviewed. It was pointed out to him that if First Vegetable Joe Biden gets his way with all of the new taxes, the total taxation of the highest NYC earners will be 59.6% of incremental income.
Of course, with his pitifully small AGI, G-clown won’t be affected at all. The sad fuck.
Oh and we’d be much better off if the FuckHump, his family and a few other Repukes all succumbed in a plane or helicopter crash.
I feel your love Bob.
We know that the likes of Donald The FuckDuck will not be effected by any of their earnings, like they really should be.
I’m affected enough by paying for the Safety and Policing of the Heteroneanderthal STD Virus.
Just think how much money would be saved by Neanderthals wearing a wig and dressing up in a gown once in a while or as often as you really want instead of killing your wives and children.
Just think – you ban a book and the next thing you’ll be forbidding woman to have a driver’s license.
Heck, if I stopped using a Personal Trainer I could probably pay off 100% of my monthly mortgage payment (in addition to my rent) and apply it all towards the Principal of my 30 YEAR Fixed Low Rate loan. Stop crying bitches – get out from your living under your mother’s couch in the basement.
But I enjoy every minute working out with the trainer(s). It keeps you committed and more focused and disciplined with the routine.
@11:
“Affected,” not “effected.”
He’s still young, but fun to watch. Biniam Girmay in TIRRENO-ADRIATICO:
4th in Stage 2
3rd in Stage 3
This stage race is concurrent with Paris-Nice.
@ 14
Heck, if I stopped using a Personal Trainer…
If you have to pay him to show up, G-clown, he’s not a “friend”.
HA’s diminutive court fool, shit-lord kreepshit loves to babble about antifa… those who nazi punch..
Boogaloo Bois.. heh.. they don’t seem to register with teh degen dumbshit of widbee:
Dunn claims he’s training with a group of more than 100 Boogaloos in Virginia that calls itself “Sons of Liberty” and threatens to go to battle if Virginia tries to pass gun safety legislation. “We will go to war,” said Dunn. “We will fight, we will die, and we will kill.”
https://www.vice.com/en/article/jg5ejx/boogaloo-bois-comeback
hey bois, there’s a kreepshit in widbee that’s your biggest fanboi!
Why tank u miss grammar.
@1 I guess you can call reversing ill-advised tax cuts for the rich that caused massive deficits “tax hikes” if you want to. These aren’t new taxes, though, just restoring old ones.
@8 “the total taxation of the highest NYC earners will be 59.6% of incremental income”
We’re supposed to weep for people making hundreds of millions a year? How many yachts and mansions do they need? And, by the way, what happened to carried interest? And billionaires with lower effective tax rates than their secretaries? Does anyone actually pay the ordinary paper rates? If they do, they have shitty accountants.
@17 I don’t recall him saying he was. There you go, making shit up again.
14
You could always go back to paying your PT with blowjobs.
Biden’s proposed new tax increases would prevent me from building a second 850 square foot cigar humidor aboard my backup, support super-yacht.
Such an economic calamity must be avoided at all cost.
And that cost must include eradicating Medicare benefits for for everyone born after (checks Lauren Sanchez’s ID)…
… 1969.
We have to save Medicare and Social Security. Sometimes you have to perform aggressive surgery to save a patient. And sometimes you have to kill people too.
It’s already happened.
It was stunningly humiliating.
And the humiliation (and the lumps) haven’t let up since.
Won’t somebody please, for God’s sake just once, please, think of us struggling billionaires…
https://www.businessinsider.com/most-expensive-home-250-million-nyc-penthouse-central-park-tower-2022-9#the-tower-itself-has-131-floors-5
“It’s so tall that you’re able to see the curvature of the earth with the naked eye from its terrace.”
Don’t you little shits understand, I have a $27,000 per month expense just for chandelier cleaning?
I can’t afford to pay taxes.
https://www.reddit.com/r/LateStageCapitalism/comments/11ln1xm/stop_treating_cops_like_thugs/
One thing worth keeping in mind here is that this rant was triggered by the infamous fake Shake Shack Poisoning.
https://www.vice.com/en/article/wx5gew/shake-shack-manager-falsely-accused-of-giving-poisoned-shakes-to-cops-is-suing-the-nypd
Weird how that, ahem, vegetable, keeps running circles around the GOP.
“Here’s a budget that if implemented will lower the deficit by $3T over a decade. We all agree the deficit is a problem and I know I said $2T in my State of the Union but now I’m at $3T without cutting Social Security or Grandma’s Medicare.”
GOP
“We are going to have an even bester fully balanced budget like we’ve been promising for well on 2 decades. Plan? No not yet but we are sure that if we just sit down and crunch the numbers we can get there. AND make you safer by giving the military more money. We’ll have it to you real soon. Swearsies!”
https://www.reddit.com/r/LateStageCapitalism/comments/11m06ht/its_only_2_million/
I guess you could say it’s generational warfare.
I don’t really give a fuck about a recession. I don’t work. Truth is, I really stopped working about seven years or so before I retired in 2021. I showed up. I read the memos (well, I skimmed them anyway), and I collected my check. But I stopped actually making a contribution to the productivity of my workplace in about 2014. That was about the point where my understanding of the corporate bureaucracy intersected perfectly with my assigned job responsibilities in a way that allowed me to focus all of my productive energy toward promoting myself, the perception of my contributions, and taking credit for the productivity of others. Aside from that (which really only took about three hours a day) I didn’t produce any actual work.
But I kept drawing a paycheck, pay increases, time off, 401k match, and using the health insurance. Boy Howdy, did I use the fuck out of the health insurance. Between my spouse and I, we obtained joint replacement surgeries, some cosmetic procedures coded as “scar treatment”, went through a bunch of corrective lens prescriptions and an eye surgery, heart stent, foot surgery, liver biopsy, the routine colon stuff, uterine cysts, and more expensive and invasive testing than I care to recall. Maxed out my pay banding, TOB, and 401k match as well. Ran a fuck ton of expenses through my mileage plan card to build up a nice pile of frequent flier miles too. But I didn’t actually work for any of it.
And now that’s done. So I don’t really give a fuck about unemployment. What I do care about very deeply is the price of companion fares, guest rooms at the casino, trolling motors, “walking” shoes, backyard grills and fiberglass spas. My money goes further at my weekly trip to Costco if y’all are out of work and I’m the only one with any money. Recessions are a cause for celebration for me the better half. Empty seats on airplanes, lots of rooms available, and no lines.
Sure, me and my fellow Boomers didn’t defeat the Nazis and save democracy like The Greatest Generation did. We never had to live through the horrors of something like The Great Depression, and war rationing. And it’s true we were born into a unique period of unprecedented economic advantage for the United States. And if our parents had even a modest amount of money we could avoid serving in Viet Nam simply by enrolling in a cheap college (and man was college cheap back then!).
But isn’t every generation of American retirees entitled to a paradise of cheap, abundant consumption guaranteed by the suffering of the generations to follow?
What could be “unsustainable” about that?
@24 “And sometimes you have to kill people too.”
Whenever someone suggests this (e.g., chickenhawks), I usually reply, “How about if we start with you?”
@27 “Stop treating us like thugs!”
We will when you stop acting like thugs.
@29 You were a Seattle PD lieutenant?
Thugs!? Fucking Neanderthals killing and raping their wives and girlfriends and killing the kids and pets….but that’s just life that we accept because there’s a jail. We like wasting police money and paying for trials and prisons, and we’re ok with that because of heterosexual supremacy.
IT WAS A GODDAMN WAR ZONE!
WE WERE UNDER FIRE FROM EVERY DIRECTION WITH NO CHANCE TO TAKE COVER AND NO SUPPORT.
WE DEMONSTRATED INCREDIBLE CALM AND COLLECTIVE RESTRAINT BY WAITING UNTIL AFTER THE SCARY GUYS WITH FIREWORKS LEFT BEFORE THEN HEADING INTO THE DANCING CROWD OF KIDS AT THE MUSIC FESTIVAL FUND RAISER TO SOOTHE OUR WOUNDED EGOS THROUGH BATON STRIKES TO THE HEADS OF THE GIRLS (OR AT LEAST THE ONES WITH THE LONGEST HAIR).
https://www.reddit.com/r/LateStageCapitalism/comments/11lgt4s/meanwhile_in_atlanta/
STOP TREATING US LIKE THUGS!
Congress has to do something or the Afghans stay here expires and they are deported back to the Taliban. What are the Repukes gonna do!
What are the Repukes gonna do!
☐ Establish a new committee and name Marge the Chair
☐ Blame Mayor Pete
☐ Kill Mike Pence
☐ Lose bigly in 2024
☒ All of the above
Things move quickly, don’t they?
Pa. lawmaker accused of sexual harassment says he won’t resign, will seek treatment for ‘illness’
by Spotlight PA Staff | March 3, 2023
Repeated sexual harassment incidents, with corroboration, and his Democrat leaders don’t do squat.
In fact, the cowardly speaker said her hands were tied:
Well, sure, she can. Makes her look a little less cowardly if she does. But instead she let a Republican tell a story, which forced the issue.
…
On this, National Women’s Day, Pennsylvania Democrats left it to the Republican party to take out its trash.
Republicans pounce!
Scoop: GOP ads hit vulnerable Dems over D.C. crime law
They claim they did it for the president. Which avoids answering the question, Why would you do it at all?
@36
Ha! You’re so right. I should have realized.
Hypocrites never cared.
Now where are my manners?
Queen YLB, Happy Women’s Day, girlfriend!
Now where are my manners?
Where they’ve always been..
kon-klown’s favorite “packing” spot, a taint away from where you get your xiaflex dosing.
@37 Gee, that McClinton gal sure sounds a lot like Kevin (“George Santos Was Elected By The Voters”) McCarthy.
@38
Oooooh scary
Let’s say that’s the biggest 5 figure number possible. That’s, ironically, $6,666.66 spending in each district.
Republicans warily approach then nervously piddle.
81 Senate votes in favor of the Republican bill to overturn the new DC crime laws.
I figured it would be 75. Oh-so-brave Warnock pulled a Barack.
Crime will be an issue in 2024. Y’all can kiss Defund the Police goodbye.
@ 42
On National Women’s Day, Robinhood Dumbfuck Rabbit refers to the Democrat speaker of the Pennsylvania House as “gal”.
It’s a good thing he doesn’t know she’s black.
This ain’t gonna help Newsom in the general.
So tell us, Gavin. Whatcha gonna do?
Yeah……we would be better off if the FuckHump had gotten re-elected.
https://i.imgur.com/nwuL9dV.png
Maybe there should be a new focus on the crime of the Hetero Neanderthal STD Virus.
How many died in DC versus nationally killed by hubby and daddy.
Hetero Neanderthal STD Virus strikes again…..involving taxpayers money to clean up the mess of the hetero virus.
https://www.nbcconnecticut.com/news/local/man-suspected-in-death-of-estranged-wife-shooting-of-teenage-son-in-waterbury-found-dead-in-virginia/2989817/
Breeding will not save them.
https://www.nbcbayarea.com/news/local/north-bay/missing-fairfield-woman-found-dead-husband-charged/3174558/
It seems like the Taxpayer’s cop wastes a lot of time and money not-fighting the Hetero Neanderthal virus….just wasting it and cleaning up a constant mess left behind by the SANCTITY OF MARRIAGE.
https://dailyvoice.com/new-jersey/morris/police-fire/contractor-kills-wife-teen-son-in-morris-county-murder-suicide/858465/
DC has a problem?
I think the problem is the Hetero Neanderthal STD and non STD virus.
This guy even had Jesus with him!
Another. What a shame this DC problem is?
https://wach.com/news/local/one-dead-one-arrested-following-woodbine-road-incident
Hetero Neanderthalism Virus needs to be dealt with, right Bob…….No, you say no?
Hubba, Hubba, Hubba.
https://www.12news.com/article/news/local/arizona/arizona-polygamist-leader-keeps-trying-contact-victims-jail-prosecutors/75-75f0fb01-3a71-43f4-8dcd-7e05c2f09253
Hetero Neanderthal Disease. Not just murderous….it’s an accepted perversion.
I beg this pig would loosen the laws that protect people from the Hetero Neanderthal virus.
https://www.washingtonpost.com/politics/2023/03/08/huckabee-sanders-arkansas-child-labor/
https://www.washingtontimes.com/news/2023/mar/8/anonymous-no-more-schlapps-accuser-comes-forward-v/
Prtoecting America from the boogie man. Neanderthal Hetero that peaks their interest.
Come on Recession, where the fuck are you!
https://www.cnbc.com/2023/02/03/jobs-report-january-2023-.html
@46
You’re trying so very hard but not getting it. No one assumed I was ‘closing Walgreens’ in the state.
We’ll be doing the same with ALL state programs where Walgreens is currently the vendor as contracts expire.
But trying to actually take over a business is so Florida.
Best Coast!
@54 Speaking of viruses, methane isn’t the only thing lurking in the thawing permafrost.
https://www.cnn.com/2023/03/08/world/permafrost-virus-risk-climate-scn/index.html
Arson at Freighthouse Square in Tacoma. Looks like it was started trackside. Wonder if the security guard is the one I’ve seen also posted at the now abandoned AmShack?
https://komonews.com/news/local/tacoma-fire-department-2-alarm-cutting-edge-meats-building-east-25th-street-east-d-street-second-fire-frighthouse-station-east-25th-street-pierce-county
Daily reminder:
Increasing taxes on the very wealthy is enormously popular and is supported by a majority of Republican voters.
@ 60
I’m one of the supporters. The difference is that I think increased taxation needs to extend much further down the income scale. Let’s see Medicare rates increased for everyone. Graduate if if you must.
But Queen YLB’s fucked kids should feel the pain along with those more fortunate than they are.
So it turns out that the national archivist & Co. pulled nine boxes out of the Penn Biden Center. The boxes are hanging out in Biden’s lawyers’ offices in Boston.
Apparently the plan is to keep it buried until well after the next election, along with Hunters SARs.
Queen YLB and millions like her pass on their genetic stupidity to their offspring. Queen YLB is homozygous for genetic stupidity..
Those poor, poor fucked kids of Queen YLB’s.
@61 Trickle down is not working. Roll back to the tax rate before Kennedy. They will still be richer than everyone else. Just not as much.
@63. They don’t say if it was regional or class based. Was it worse in red states than in blue states? Better in rich school districts, worse in poor school districts?
That website is hosted by The Leadership Institute to train the next generation of conservative candidates for the nation’s school boards. Not an objective source. It reads like the greedy racist incel, vague on the facts so they can by omission.
Data from the sample of U.S. adults, however, imply that there is a reverse Flynn effect.
Heh.. speaking of “Flynn”…
I kind of remember teh widbee kreepshit, HA’s court fool defending Flynn’s lies to the FBI even when orange dear leader said Flynn lied to the FBI and instead it babbled some idiocy about Strzok’s FBI partner.
Let’s call this the degen troll effect.. the troll’s brain is merely reaching a potential of sorts set at birth..
The troll will only get more entertaining for HAers until “that certain day”..
Perhaps Flynn suffers from this shit as well. The degen troll effect speaks well to both Flynn and HA court fool kreepshit’s “intelligence”.
@63. What do you expect from the actions of the book burners? Conservatives are relentless cutting support from schools, to get rid of public education and keep their kids from learning critical thinking skills and boomers will support what ever lowers their taxes.
Those poor, poor fucked grandkids
of kreepshit.
kreepshit’s agenda for them is to induct them into the “deathsatanist youth” – make them a couple of fascist thugs to take after grandpop in its frat house days.
Everyone remember kreepshit’s “kick the living shit” spew?
yawwwwn… whatevs..
Hey kreepshit here’s a model for the “deathsatanist youth”..
https://youtu.be/fxdt_f0hwUg?t=11
Those kids in the vid are today kon-klown’s brown shirts.
Heh.. well all know this is what you want for your “grandkids” (wink)..
Here’s a lady preacher that went to jeebus kamp:
https://youtu.be/I4daeEacIVI?t=19
kreepshit wants something a bit more “manly” and “brutal” for its “grandkids”…
heh.. the “deathsatanist youth”, nice ring to it.
“I’m one of the supporters.”
versus…
“I voted for Willard, for Trump three times, for Susan (Unlike Senator Cantwell, I would have voted for the historic tax cuts) Hutchison, and for Tiffany Smiley. And I Stan for Ron Johnson and Paul Ryan every chance I get.”
Biden proposes a very modest 20% minimum tax rate (the rest of us little people pay an average rate of 30%) on a few hundred billionaires. It would raise only a few hundred billion dollars over the next decade. Which is not nothing. But it also would not retire the debt. Why do it then?
¿Porque no los dos?
These people simply do not pay their fare share, or even enough to support what they cost. Their lifestyles and habits levy an enormous toll on national and local infrastructure from airports, to ports, to roads, to utility networks, to health care, to environmental and land use regulators, to freight rails, to courts etc. And many of them pay almost nothing. It’s only fair. And fairness is important. Because we will never have a progressive tax system that is impervious to fraud, abuse, and other forms of avoidance. Establishing basic principles of fairness in levying and collecting taxes is fundamental to gaining support and compliance.
Can more be done? Hell yes! But that is certainly no reason not to do this.
Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
The answer is always the same:If you want a fair tax system, enact a single, flat-rate income tax for personal income taxes.
65,
Don’t humor that trash.
Propaganda from Kansas. ‘Nuff said.
One thing Charles Koch has gotten very good at is steering his money through various blind grant making 501(c)(3)s, to keep his fingerprints off the money.
It keeps him from being targeted by either side. Because while his money goes to Republicans, his purposes are entirely selfish. He doesn’t give one tiny wet shit what Republican voter want. But he definitely wants to terminate funding for public education at every level.
Child marriage ban bill defeated in West Virginia House
—
“Don’t you dare do drag in front of my child bride!”
-Republicans
—
A Republican comes home from work and finds his wife packing all her belongings.
“I’m leaving you” she says. “You’re a pedophile”
“Pedophile??” the man replies. “That’s an awwwwfully big word for a 12 year old.”
—
Although recent figures are unavailable, according to the Pew Research Center, West Virginia had the highest rate of child marriages among the states in 2014, when the state’s five-year average was 7.1 marriages for every 1,000 children ages 15 to 17.
—
Another reason republicans want to destroy public education. The kids might learn this is not normal.
…only makes sense alongside a single, flat-rate income for personal income.
Pass a law paying everyone exactly the same salary and – what do you know? – you wind up with a flat tax rate applying to all incomes.
If you really believed even a tenth of the bullshit you spout you’d never vote for another Republican. Their proposal is for a 30% sales tax, asshole.
U.S. Senator Mitch McConnell taken to hospital after fall
Good thing he has the best healthcare money doesn’t have to buy
—
Is it a coincidence that right after he speaks out against Tucker Carlson, McConnell is hospitalized after having a “fall”?
I’m not saying that Carlson is trying to silence McConnell but these are important questions that need to be answered.
You can deny it if you want, but everyone with an IQ of at least 65 knows the flat-rate system is the best for fairness and maximizing the government’s take out of one’s paycheck.
I’m one of the supporters. The difference is that I think increased taxation needs to extend much further down the income scale.
This is a terminally silly bullshit proposal that ha’s court fool has babbled since it started trolling here..
It basically means “tax cuts for the rich” only.. or as the troll babbled once upon a time, tax cuts that “benefit all levels”..
And coming from a moron who babbles that the modest income increases since the pandemic, the great resignation and higher minimum wages (being passed even in red states) HAVE NOT kept up with inflation..
It’s well know that median incomes have not gained much if any since the early 70’s..
And the silly troll thinks it’s just *wonderful* that people whose standard of living has gone nowhere, the poor, the working poor, the folks who work paycheck to paycheck, who are chronically strapped should take a hit and stroke off a shit for brains in widbee.
The people who have benefited MOST from this state of things for decades should pay more – period.. Higher marginal rate, minimum rate and definitely wealth tax.
Taxing strapped people MORE would be political suicide for anyone who proposes that and it means that only repukes would be elected who only want more tax cuts for the rich. Lookie see what the “serious” morons in the McCarthy kookhaus just passed for their billionaire donors..
I call bullshit, or silly kreepshit rather.
@77.
Sales Tax rate of 30%?
A poor person who spend 100% of their money on living expenses and 0% on toys pays a 30% tax rate
A 1%er who spend 10% of their money on living expenses and toys pays a 3% tax rate.
You have an odd idea of fair.
OK, let’s conduct a little exercise in math: A family of four, living in Kent, WA, has a household income (income for all sources) of $60,000. How much federal income tax should they pay?
Now let’s say the family’s’ income from all sources is $600,000. How much federal income taxes should that family unit pay?
How about if the family has a household income of $6,000,000? How much federal income tax should the family pay?
Finally, what if the family’s household income is $60,000,000. How much federal income taxes should the family pay?
Get out your calculators and show me your work.
(BTW, I don’t recall mentioning anything about a national sales tax, so why are you trying to say I did?)
GM is cutting its salaried workforce by more than 50%. Right now it’s voluntary buyouts – 1 month pay for every year worked.
In a couple of weeks the layoffs will start, to clear out the remainder.
Bidenflation touches all.
@80 Take the brackets when communist (according to Robert Welch) Ike Eisenhower was President.. adjust them for inflation..
Good start..
btw, Ike refused to cut taxes as there was a social security system to fund, a cold war to fight, a space race to win and a national highway system to build..
It took Republican Jack Kennedy to cut taxes for his fellow rich people.. Yes, I said Republican next to Ike’s communist.
According @ 78 to HA’s dumbest twat, Queen YLB, a payroll tax hike on not just the rich is “tax cuts for the rich only”.
It’s hard to know where to begin when her arguments are that moronic. To Queen YLB a tax hike is really a tax cut. And up is down. WTF.
GM is cutting its salaried workforce by more than 50%. Right now it’s voluntary buyouts – 1 month pay for every year worked.
And automation, i.e. capital over the years have cut how many of the hourly workforce?
Not to mention offshoring.. Fed policy sucks but in a manufacturing concern, office help is strictly overhead.
yawwn.. try harder
66,
“I kind of remember teh widbee kreepshit, HA’s court fool defending Flynn’s lies to the FBI even when orange dear leader said Flynn lied to the FBI”
The gist of his defense of Flynn was that the mean FBI agents set him up and “entrapped” him. Then the mean DOJ prosecutors cornered him into making a false confession by threatening his son with prosecution. This was all based entirely upon a series of bogus claims teased almost endlessly on FOX by Flynn’s phenomenally corrupt and arguably insane defense attorney at the time, Sidney Powell of Sidney Powell fame.
Powell had a decent side hustle on FOX and elsewhere misinforming dumbshits like Tuckems about what the law says, and about what she was up to as a “lawyer”. Her first basic claim was that the sec 1001 statute requires that the false statements be material to an ongoing investigation. That is not remotely true. Sidney Powell lying? Quelle surprise!
The other claim she teased was that there was a secret agreement between Flynn’s previous attorneys at Covington and Burling and the DOJ to decline prosecution for the kid in exchange for Flynn’s guilty plea and cooperation agreement. She based this in her filing on two emails between C&B attorneys in which they described their speculations about what DOJ was willing to offer Flynn.
Backgrounder: There’s a fundamental precedent controlling federal plea agreements based on a 1972 SCOTUS decis in Giglio v. US that held that feds have to disclose to criminal defendants, any thing of “value” offered to a witness in exchange for their cooperative testimony. Giglio’s effect, at least within the criminal division of the DOJ, is that prosecutors are incredibly careful, circumspect, and methodical in how they negotiate a cooperation agreement. Whatever coy teasing or back-and-forth you might imagine is completely absent. Cooperation agreements are normally associated with major cases. Offering to reduce charges, make sentencing recommendations, etc. is only done in exchange for obtaining a much bigger conviction down the road. Fucking up the disclosures will produce a mistrial at best. But disclosing a huge incentive to cooperate weakens the value of the testimony. Fucking up a major case is how you end a career in the DOJ.
All this care, and circumspection on the part of federal prosecutors during these negotiations often leaves criminal defense attorneys flummoxed, and struggling to understand how the negotiations are proceeding. They ask questions of the prosecutors, often in the forms of “what if”, and they get nothing back. It’s frustrating and it leads to the defense team speculating among themselves in the dark about what they might expect.
I can promise you that, where federal prosecutors are concerned, you can expect exactly what you have in writing, and nothing more. The C&B lawyers knew all this. So did Sidney Powell.
But that wasn’t enough to stop her from taking a couple of emails between the defense attorneys and trying to paint them as evidence of a “secret agreement”. It was an incredible stretch without a hint of corroborating evidence anywhere in the record (Does this perhaps sound familiar?). The filing, originally sealed while Powell was teasing it to mouth breathers like the Shit-lord crybaby, was greeted with open mockery by the court. Foreshadowing the rest of Powell’s career in the law.
“Biggest loser?” The Shit-lord crybaby for pinning the tattered shreds of his blasted credibility to Sidney Powell just as she was preparing to enter what I like to call the TSLA phase of her legal career.
a payroll tax hike on not just the rich is “tax cuts for the rich only
And kreepshit can’t read… Payroll taxes are already VERY HIGH thanks to bonzo and Tip O’Neill. Increasing taxes on poor people is an unserious non-starter..
which of course can only help repukes, who want tax cuts for the rich only.
What repuke is proposing serious tax reform where those who have benefited the most from repuke tax policies pay more?
thought so. dense as spent uranium our ha court fool.
OK, let’s conduct a little exercise in math: A family of four, living in Kent, WA, has a household income (income for all sources) of $60,000. Given average cost of living for Kent, WA including food, shelter, utilities, health care, education, transportation, insurance, etc., what is their net remaining disposable income each month?
Now let’s say the family’s’ income from all sources is $600,000. Given average cost of living for Kent, WA including food, shelter, utilities, health care, education, transportation, insurance, etc., what is their net remaining disposable income each month?
How about if the family has a household income of $6,000,000? Given average cost of living for Kent, WA including food, shelter, utilities, health care, education, transportation, insurance, etc., what is their net remaining disposable income each month?
Finally, what if the family’s household income is $60,000,000. Given average cost of living for Kent, WA including food, shelter, utilities, health care, education, transportation, insurance, etc., what is their net remaining disposable income each month?
Get out your calculators and show me your work.
You want more tax revenue from the poor – RAISE THEIR WAGES.
You want more tax revenue from the rich – RAISE THEIR TAXES..
They’ve had nothing but cuts for decades.. Recent journalism has exposed that a lot of them pay almost nothing..
And of course the shit-lord whined – but.. but.. THEY GIVE TO CHARITY.. sure… teh Donald “gave” too. (rolls eyes)
What repuke is proposing serious tax reform where those who have benefited the most from repuke tax policies pay more?
I’ll answer my own question: NONE.
Yet it takes a dishonest, unserious kreepshit from widbee to propose that somehow repukes will be more accommodating if those who have benefited LEAST from repuke tax policies are strapped even more than they are now.
80 – Let’s suppose we have a flat-rate system wherein each person covered by a Form 1040 filing is allowed $15,000 of income from all sources tax-free. Professor Antony Davies, of Duquesne University, has done some work on tax structure and has found that on, average, the taxpayers pays about 18% of his/her total income in taxes. I encourage you all to go over to YouTube and listen to what he has to say.
So, under my scenario:
1. The $60,000 family would pay $0 federal income taxes and a zero percentage rate.
2. The $600,000 family would pay $97,200 in federal income taxes, which is 16.20% of their total income from all sources.
3. The $6,000,000 family would pay $1,069,200 in federal income taxes, which us 17.82% of their total income.
4. The $60,000,000 family would pay $10,789,200 or 17.982% of their total income.
Notice that the lower income families above $60,000 pay slightly lower rates than the larger income families. They also pay smaller amounts. This is a very, very fair system. Each family of four gets $60,000 tax free while paying 18% of the amount over the $60,000 base. It’s not a favorable system to the tax preparation industry, the AICPA, tax attorneys and politicians. The first three groups will take a hit to their income, while politicians cannot use the tax code to bolster their political positions, reward enemies and punish enemies.
If we’re are going to tax income, then the flat-rate system is fair to everyone.
@57
Remember when a Dumbfuck was saying this was a nothingburger. Well now that I took a decisive step that WILL cost Walgreens money the stock is down 4.5% since making the announcement. Add that to being down 32% YTD and I’d say the CEO and the Board are having some tense sessions about if caving to the bullshit claims of the Kansas AG about why we should be worried about selling a product that is legal in Kansas where the voters were quite clear the AG can go fuck himself re: abortion puts us at any risk.
But what do I know….I’m just the Governor of a state that can move the market all on it’s own.
Jeff Bezos’ girlfriend is a helo pilot.
But Jeff’s newest massive 400 foot long sailing yacht has masts over 200 feet tall. So Lauren can’t land on it safely (plenty of pilots could, but she’s not quite that good).
So Jeff ordered a second 250 foot yacht with its own helicopter airport to accompany his main yacht wherever it goes.
In 2007, and again in 2011, Jeff didn’t pay a single penny in income taxes.
Jeff’s 250 foot support yacht sleeps 60*, has its own submarine pen, and has a 2000 gallon live tank for fresh seafood.
*Crew quarters only. Maybe you didn’t know this. But privately owned superyachts have very limited overnight accommodations for guests. This is because of rather arcane international maritime legal agreements intended to protect the passenger vessel industry. LY3 code, which applies to “large” yachts 24 meters and over in line length allows a maximum of only 12 guests. To carry more places the vessel under the direct operational jurisdiction of the maritime authority of the flagging nation, requiring special pilots, equipment, inspections, training, and a bunch of other requirements that are not at all compatible with rich-bitch lifestyles. So that massive superyacht you see is for the amusement and entertainment of no more than 12 guests maximum.
Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
Ba-dum-bum. [cymbal crash]
WHY?
Sincere question.
“Notice that the lower income families above $60,000 pay slightly lower rates than the larger income families. They also pay smaller amounts. This is a very, very fair system.”
How does exempting a certain amount make the system more fair, as you see it?
“Each family of four gets $60,000 tax free”
Again, why? What is the reason, rooted in your own sense of what you describe as “fairness”, for making a certain, possibly arbitrary, base income exempt from taxation? What principle, as you see it and a principle that you yourself support, justifies this exemption?
Governor hair gel @ 91
Add that to being down 32% YTD …
Try < 10% YTD. Close 12/30/22 was $37.36, and just now it was $33.99.
Now compared to CVS, which is down nearly 17% YTD, Walgreens is doing pretty well. Not much difference between the two stocks on the week, either.
So your point was…
What, exactly?
@81 People are saying GM is sending that white collar work to India.
“those roles are being offshored. If it can be done on a computer it won’t be done here. Trust me. I’m watching entire IT security departments get offshored. If they can offshore the most critical administrative roles, they can cut anything.”
“The easy answer in my mind is they will offshore these jobs to India. They need the skills, no doubt. They just don’t want to pay a premium for them anymore. ”
General Motors EBITDA for the quarter ending December 31, 2022 was $5.380B, a 20.71% increase year-over-year.
General Motors EBITDA for the twelve months ending December 31, 2022 was $21.604B, a 1.07% increase year-over-year.
General Motors 2022 annual EBITDA was $21.604B, a 1.07% increase from 2021.
General Motors 2021 annual EBITDA was $21.375B, a 9.9% increase from 2020.
What a fucking POS is Hunter Biden.
The Hunter files begin to drop
The wrong Biden son died.
97,
I’ll re-read when I get the chance.
But I’m not seeing the Hatch Act violations, whatever the fuck the lapse is supposed to be when the Shit-lord crybaby pleads and shrieks about “ethics questions”.
Are family members forbidden to accept job offers?
Are Republicans now arguing that family members of elected officials must go through some kind of political review process before they can accept such job offers?
It would certainly make for an interesting legal framework, facing plenty of challenges, from an odd assortment of political bedfellows.
I dunno. Maybe it’s just trolling bullshit?
What deductions will apply to the flat tax?
What goes away?
Does the Child tax credit go away?
Adoption credit?
Charitable donations deduction?
Mortgage interest deduction?
Health savings account contributions deduction?
Self-employment expenses deduction?
Bezos avoided paying federal income taxes in those two years by losing more money investing than he earned from other income, according to the report. In both years, the report said, Bezos paid nothing in federal income taxes by citing investment losses greater than the amount he earned from various income streams (stock dividends, salary, etc.).
Will that go away?
Show your work.
Conservatives, we cut government programs to promote charities, now we cut the tax credit that supports charities. We have an agenda.
Upon voting to NOT raise the age of consent to marry in West Virginia to 18, a Groomer says:
Which is a funny way to say your mom might have been a slutty 15 year old who was bouncing on a dick before she could drive.
Say, didja hear America’s dumbest congressman is about to become a grandma after her 17 year old son knocked up a 16 year old. …watch out for the drag queens.
People bought million+ dollar homes at 7% interest, and conservatives want to get rid of their mortgage interest deduction? That should go over well.
@97
Ooooooooh the scandal of the son of the sitting vice president getting a job and the press sec of the Father speaking to them about the job.
Got a real Pentagon Papers on your hands.
AND THEN a foreign reporter requesting an on camera interview.
That rises to the level of Iran-Contra.
So a single tax payer is limited to the first $15,000 tax free?
And so that same single tax payer would pay 18% on earnings above that $15,000?
So a single taxpayer earning $31,480 (your state’s minimum wage) would pay $2,966.40 in federal income taxes, and be left with a take home pay of $28,513.60 to live on in Kent, Washington. I don’t know the place. Is $2,300 per month enough to live on realistically in Kent?
I’m not as detached as a Republican politician. But I do have a hard time grasping if that’s realistic.
I’d still really like to know what moral or ethical principle, described in terms of its practical effect, is used to justify exempting even the first $15,000 of income?
It isn’t even the number that concerns me, really. Just why exempt some lower bound of income at all? What outcome does such an exemption serve?
I’m not expecting a response, of course. Fascist trolls never like to engage in any process that might bring them into close contact with questions like “why?” They prefer “what?” and “to whom?”
@104
The average rent in Kent for 1 bedroom is $1900.
$1900 rent average
$133 electric average
$30 for the cheapest data included Phone plan*
$300 groceries (USDA guideline lowest possible for one person)
That leaves one with $17 to commute to get yourself to work every month and you’re 100% fucked if you get sick and miss a day, have education expenses, need urgent care or your shoes wear out…
So no.
*Don’t @ me, a phone is not a ‘luxury’ in the modern world
@104
The average rent in Kent for 1 bedroom is $1900.
$1900 rent average
$133 electric average
$30 for the cheapest data included Phone plan*
$300 groceries (USDA guideline lowest possible for one person)
That leaves one with $17 to commute to get yourself to work every month and you’re 100% fucked if you get sick and miss a day, have education expenses, need urgent care or your shoes wear out…
So no.
*Don’t @ me, a phone is not a ‘luxury’ in the modern world
106, 107,
Taxed into homelessness by a system that wouldn’t even come close to balancing the budget?
The last flat tax plan that REPUBLICAN Senator Ted Cruz proposed had to set the family of four income exemption at $36,000. And even then he was forced to include an assumption of a 15% growth rate in the economy in order to reach a balanced budget after ten years.
So now, under the actual Republican plan (that they have since withdrawn), our single filer Amazon Warehouse worker in Kent earning $31,480 is paying taxes of $4,046.40 on a taxable income of $22,480 with only $9,000 exempted. Leaving them with a take home of $27,433.60 to live on.
Is $2250 per month to live on in Kent WA better? Realistic?
At least it’s “fair” to Jeff Bezos and his helicopter pilot girlfriend flying in one of their turbojet helicopters to one of their 400 foot sailing yachts to take a ride in one of their submarines dining on fresh lobster.
But maybe this is why Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
It would probably help with inflation too.
Dumfuck’s still on about The Hunter Files…
Well that’s a fun little nugget. ‘Fair and Balanced’.
@ 108
Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
It would probably help with inflation too.
Intentionally created recessions usually do.
@111 It’s either a nasty recession or nasty inflation that eats into boomer retirements. You know which will be the choice. You were screaming about inflation until you could own the libs more with a recession.
Raising taxes on the very wealthy is enormously popular with a majority of voters, including Republican voters.That’s why abolish social security republican politicians are attacking trans kids.
Trains derail more often than gets reported normally.
But Geezus, Norfolk Southern…
Who btw, cut almost 10,000 jobs so they could increase shareholder payouts by 4,500%.
This must be because of kitty litter boxes. /s
@113. Train derailments are caused by rainbows and drag shows and Hunter’s laptop.
—
Raising taxes on the very wealthy is enormously popular with a majority of voters, including Republican voters.That’s why abolish social security republican politicians are attacking trans kids.
Democrat President Bill Clinton (who btw is a slut and a terrible father and husband) imposed a 35% tax rate on corporate profits, created a new higher bracket of 35% to 39.6% for very high incomes (top 1.2%) and raised fuel taxes which resulted in a balanced budget and historically unprecedented economic growth. The precise opposite of a recession, actually.
Every single stupid Republican tax cut has led to a recession.
Allowing the fed to raise interest rates to 6% will too.
A tax increase on the very wealthy will help to soften that recession by reducing the need for those interest rate hikes.
That’s just another reason why Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
@63 “From 2006 to 2018, the age groups measured generally saw declines in the IQ test used by the study, the International Cognitive Ability Resource (ICAR).”
Doesn’t that coincide with Fox’s peak viewership? And I’ll bet you’re one of those viewers.
@70 Well, she wasn’t wrong. Biden did win, and Trump’s demonic forces were defeated.
@72 Yes, I agree, billionaires should pay the same tax rate I do.
Norfolk Southern
2021 $3.1 billion in stock buybacks.
2022 $3.4 billion in stock buybacks.
2023 $10 billion set aside for future buybacks.
Currently only $1 billion set aside for safety improvements.
They’ve cut beyond the bone. And they are pouring the resulting profits into raising the stock price and lowering the company’s tax liability through stock buybacks. These practices, considered in totality, strip capital investments away from workplaces, communities, workers, and community safety, and concentrate capital investments into the disposable income of wealthy shareholders and their families, like Jeff Bezos. Our tax codes and our regulations all encourage these practices.
Raising taxes on the very wealthy is enormously popular with a majority of Republican voters.
And it would make our communities safer and more economically stable too.
@74 Child marriages are a necessity in any culture where the average lifespan is around 24 years.
@76 McConnell suffered a concussion. Now he thinks as clearly as Fetterman. I wonder what doc will say about that?
@77 No doubt many people with an IQ between 65 and 85 admire the seeming simplicity and superficial fairness of a flat-rate tax system.
@78 “It basically means ‘tax cuts for the rich’ only.. or as the troll babbled once upon a time, tax cuts that ‘benefit all levels’..”
I disagree. It means tax the poor.
Romney wanted to do it. So did Paul Ryan. So do the proponents of a 30% federal sales tax. It’s never gone away.
@80 “Get out your calculators and show me your work.”
You asked for it. If everyone is taxed at a 10% rate, the family with a $60,000 income will pay $6,000 in taxes, while someone with $60,000,000 of income will pay $6,000,000 in taxes.
The family will be left with $54,000 to live on, while the rich guy will be left with $54 million to live on.
Those tax burdens don’t impact equally. You’re also failing to take into account that state and local taxes fall disproportionately on the lower end of the income scale. In Washington, the bottom quintile pays 5 or 6 times the percentage of their income to those taxes as the top quintile does.
@81 Doctor Dumbfuck would have us believe that “Bidenflation,” which has drastically increased the profit margin on new cars, rather than bloated corporate bureaucracy is behind the cost-cutting at GMC.
@110
We’re pretty much in the textbook definition of an in kind donation.
Lachlan Murdoch says news coverage of Fox’s lies and libels is “noise.”
https://thehill.com/homenews/media/3892120-lachlan-murdoch-dismisses-noise-created-by-fox-news-dominion-lawsuit/
@97 “The wrong Biden son died.”
As I recall you wished death on the other one too, even though he was already dead.
@101 Judge Roy will be glad to hear he can still date high school cheerleaders.
@104 “Is $2,300 per month enough to live on realistically in Kent?”
Depends on which part of Kent you live in.
https://www.kentreporter.com/news/city-of-kent-tracks-41-homeless-campsite-hot-spots/
@105 I’m under the impression fascists have a strong preference for sorting people according to “who” (or “whom,” if you wish).
@106 “*Don’t @ me, a phone is not a ‘luxury’ in the modern world”
How do you explain that an AR-15 is a “right” and a phone isn’t?
@113 “Who btw, cut almost 10,000 jobs so they could increase shareholder payouts by 4,500%.”
This year’s dividend hike was only 8.8%, and last year’s was only 19.2%. There’s no capital gain; the stock is down from 3 years ago.
Imagine if your city garbage collectors only picked up your trash 10% of the time.
And when they did they shot your dog.
More police do not make us more safe.
It turns out Jenna Ellis recorded Mitch McConnell’s stair mishap and posted the video on Twitter.
https://twitter.com/JennaEllisEsq/status/1633863803581415424
135,
She badly needs to distract.
She received a license censure today from the disciplinary panel in her home state.
America’s
LawyerFavorite Pizza!135,
Fortunately she has a “handmade” jewelry line debuting on QVC next month just in time for cruising season.
@ 115
You left something out. It’s a pretty big something. Anybody know what it was?
While tonguing Bill Clinton’s anus @ 115, what QoS McHillbilly left out @ 138 was the slashing of defense spending under Clinton.
Closing bases, canceling or reducing defense contracting programs, is… inflationary? …recessionary? …”a pretty big something”?
Does anybody have any idea if the deeply stupid Shit-lord crybaby has any point here related to “intentionally creating a recession”?
Do we even give a shit at this point?
I’m inclined myself to argue that any discussion of the heady bouquet of rancid shit filling the Shit-lord crybaby’s pants on an almost hourly basis at this point is unworthy of these pages.
In 2024 it’s going to be “It’s the economy, stupid”.
But the problem for Republicans is they really do not understand the economy at all. Their track record demonstrates that very, very well. But if that isn’t enough, you can always refer to the “deeply philosophical” debate over Idiot Flat Tax Goldbuggery above. Which at a certain point in time was the sine qua non feature of every “intellectual conservative” tax plan.
@139 Wowee.. Clinton’s military intervened in the former Yugoslavia to halt a genocide. reversing the dithering policy of Papa Bush..
Then Clinton’s military was used to topple both Afghanistan and Iraq:
On Sept. 30, Defense Secretary Donald Rumsfeld released a defense plan that largely preserved the basic size and composition of the military and weapons modernization agenda endorsed by President Clinton. Rumsfeld’s plan also added a few programs like a large-scale missile defense, but for the most part it simply blessed what its predecessors had bequeathed it.
https://www.brookings.edu/opinions/bushs-massive-defense-budget-misses-an-opportunity/
i.e. the Bushies felt perfectly comfortable starting to wage endless war with the military it had and not with the one that teh kreepshits fantasized in bushie anus-tonguing war blogs.
In case anyone cares, while I’m certainly not about to argue that sudden, massive cuts to bloated defense programs would not be at least somewhat recessionary, I’ll gladly proclaim that if Brave Kevin or Turnip Mitch want to put that on the table as part of the budget negotiations I’d absolutely welcome it. I’ll bet Joe Biden would too.
How ’bout we trade them their 15% reduction in defense spending over ten years producing $1 trillion in savings, provided that the cut is accompanied by a force structure realignment to the “Command of the Commons” option outlined by the CBO, and that one fifth of the savings is used to expand health insurance coverage and restore Medicare funding.
House Republicans are now demanding that the eligibility age for Social Security be raised to 70.
Which is at least consistent, considering that the average life expectancy for Black males is 68.
The fascism is now so completely natural to Republicans that they aren’t even aware when they are doing it.
@144 The idea is to push ’em back into the workforce. They need those $9.00 an hour workers, even if they’re stooped and shambling. One of these days they’ll to raise the minimum retirement age to 80, except in Biden’s case they’ll make that the mandatory retirement age.
Suppose Biden gets reelected, but makes it slightly more than halfway through his second term before stepping down, then Harris succeeds him, gets elected, then reelected, then her vice president (Mayor Pete) succeeds her and gets reelected, what you have is Doctor Dumbfuck’s worst nightmare. I’ll bet he tosses and turns every night having this recurring bad dream and there’s nothing he can do about it.
I was promised a massive, nuclear winter recession.
George Santos’ former roommate alleges “he learned from Santos how to clone ATM and credit cards after he started renting the room from him. ‘Santos taught me how to skim card information and how to clone cards. He gave me all the material and taught me how to put skimming devices and cameras on ATM machines,’ Trelha said.
“He said Santos had a warehouse in Orlando, Fla., that housed materials such as printers and blank ATM and credit cards that could be painted and engraved with stolen account and personal information.
“Trelha said he went to Seattle and began to steal credit card information from ATM terminals, with the deal being that the profits would be split evenly between the two of them. He decried that Santos threatened his friends after he was arrested to not tell authorities that Santos was the one in charge.”
https://thehill.com/homenews/house/3892920-santos-accused-of-orchestrating-credit-card-skimming-operation/
Now we know how the GOP congressman made fast money. Kevin McCarthy will keep him in Congress anyway to have his vote.
Okay. So a member of the House GOP operated a conspiracy to empty out the checking accounts of regular plain old users of ATMs.
The REAL CONSPIRACY is the DEEP STATE!!!!!!
The greatest thing about FOX and Tuckems and the GOP base going full, ride-or-die, pro-pipe-bomb-insurrection is this:
In head to head polling Biden has a small two or three point advantage over Trump in early tests of likely voters.
But when the surveys combine the candidates with their support or condemnation for the Jan. 6 insurrectionists, there’s a five point delta in favor of the candidate who condemns the violent “HANG MIKE PENCE” attack on the Congress.
The Santos allegations should be easily provable or at least supportable. TSA should have records if he flew. The Seattle jail should have records of who signed in to see the dude.
I read earlier this week that the GOP members of the NY House delegation want Santos out.
Bidenflation just claimed its first FDIC-insured bank.
@151 “I read earlier this week that the GOP members of the NY House delegation want Santos out.”
They’re outvoted by Kevin McCarthy.
Silicon Valley Bank has been taken over by the FDIC due to liquidity concerns. I took a look at the company’s website, and one of the services it listed was “providing liquidity” to its customers. That’s pretty ironic, considering the FDIC is seizing the bank over its liquidity!
My understanding is that when this happens, the FDIC shows up on Monday and tells the bank’s management that it will be taken over at the end of the week. The FDIC is on-site and works with management in the scramble to find a buyer, while doing its accounting review. The FDIC has already found a bank to take over, likely for free, and that bank has mobilized so that the closed branches can open the following Monday under new ownership. The new owners are on-site, today, telling the staff that none of them will be fired and that they should plan to come to work on Saturday and Sunday in order to get ready for the re-opening.
I owned shares in a local bank that was taken over during the Great Recession. Let’s just say I had a lot of carried-over capital losses for a couple of years after that, which offset gains for awhile.
In the boards I follow, they put the bubble squarely on the timidity of the Fed and J Powell being unwillingness to raise rates earlier. This bubble was made so much worse by their inaction.
SVB, a relatively unknown bank outside of Silicon Valley, lends to higher-risk tech startups that have recently been hurt by higher interest rates and dwindling venture capital.
SVB’s sudden fall mirrored other risky bets that have gotten exposed in the past year’s market turmoil.
Svb has $1bn in equity on $90bn in deposits. This means the bank is levered 90x and any further losses in Mbs / treasuries would wipe out equity.
>> Isn’t that capitalism at work? They took risks and sometimes they fail. Fuck around and find out.
Wait, does this mean that banks don’t have to have any reserves any more?
Reserve ratio requirements disappeared in 2020
As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
The gop wrecks it, the dems fix it, the gop wrecks it again, and the cycle keeps repeating because voters keep electing republicans who will ban abortion and hurt gays.
Is this an accurate view?
“See kids, this is what happens when you load up on massive amounts of debt (say like mortgages and auto loans) right as the Fed spikes rates to the moon. Uhmerikan consumers have been busy “buying all the things (on credit)” and spiking inflation instead of saving and positioning themselves for the inevitable slow down.
Now all the banks’ leverage problems will be compounded by massive defaults on all debt types as credit markets freeze and C-Level types lay off everyone to save their own asses.”
Just a bank failure folks. Nothing to see here. Soft landing dead ahead. You know… A transitory bank failure.
There’s an official proceeding audio tape online on CNN of Santos appearing and testifying in the case before a judge in Seattle.
He identifies himself by his false, nom-de-crime, George Devolder.
And he responds to the judge’s question by telling him that he is an aspiring politician who works for Goldman Saks.
I don’t personally think this is worthy of a criminal indictment.
But unlike the profoundly stupid Shit-lord crybaby, I would never, ever be stupid enough to stake my credibility on a bizarre, amoral, sociopathic shit-bag like George Devolder Santos Jingleheimer-Schmidt. What. The. Fuck. Dude.
From a one-year low of $48 last September, GE is presently at $92, a five-year high.
@ 162
…GE is presently at $92, a five-year high.
Higher than that, once you factor in that it spun off GE Health Care as a separate company 2 months ago.
One-third of the trading price of $75.19 is another 25 bucks.
GE value is $91.65 + 25.06 GEHC = $117.71
Recall that this is after the reverse stock split 1:8. After accounting for the split and the spinoff, the adjusted current value of GE is $14.71.
Put another way, each GE share is still $9.10 less valuable than on October 20, 2017, which is the day that Robinhood Dumbfuck Rabbit started off recommending purchase of GE shares, before I shamed him into completely backtracking and instead recommending that they be shorted.
Don’t be a dumbfuck. Don’t invest like Robinhood Dumbfuck Rabbit.
Bidenflation has led to its first run on a bank. So far.
Silicon Valley Bank fails to find buyer as run on bank outpaced sale process
Don’t think there won’t be others.
Today’s was the second-largest bank failure in history.
No word, yet, whether Hunter Biden served on its board of directors.
I may not have this correct, because it’s not specified, but apparently start-ups that have been funded but haven’t spent their cash yet parked a lot of their cash at Silicon Valley Bank, and as the whispers became louder this week a lot of them withdrew their cash. Apparently this run on SVB is why the FDIC had to close it mid-day today rather than after the close of business, as it usually does.
This has me wondering: What about the start-ups that didn’t get their cash out on time? If the FDIC insurance doesn’t cover it, will Biden bail them out? Should he?
Speaking of Robinhood Dumbfuck Rabbit and shit-poor investing, I wonder if he realizes that Generac was just downgraded by Citigroup.
Annnnnddddddd, the S&P 500 is now back in bear market territory.
Hey, G-clown, maybe now isn’t the time to accelerate your mortgage payments.
As pitiful as your AGI currently is, it can still be worse.
Hey, why isn’t anyone joking about TSLA’s share price today?
JPM is bucking the trend today and is up nearly 3 bucks a share as of this writing. All that money yanked out of SVB had to be parked somewhere, and a good chunk of it is parked at JPM.
My Notadumbfuck Method of investing is a satirical way of making fun of the consistently stupid investment decisions of Robinhood Dumbfuck Rabbit.
There’s a guy who makes fun of Jim Cramer in a similar manner, and calls himself Inverse Cramer:
He’s making money off the scheme, with an Inverse Cramer ETF and newsletter.
Based on average performance over the last six years I’d give the Shit-lord crybaby about 1 in five odds of being correct at any given point in time.
Based on the last few months it would clearly be less than 1 in 100.
Let’s just all give thanks and pray that he never stops fucking that George Santos/Pipe-Bomb-insurrection/Marjorie-TrailerPark-Barbie/WEBUILDTHEWALL/Rush-Limbaugh/CRYPTOLAND/TinkleDown/”Please-Clap”/TSLA/Donald-J.-Trump chicken.
For as long as this gibbering clown continues to draw breath I’ll never have to pay another cable bill. I can’t believe he gives it away!
Capitalism punishes those who make bad financial and business decisions. SVB will be cleaned up, and we’ll all move on.
Not gonna be any Democrat gains via the Senate for awhile.
And as with Sinema, he’s absolutely not running as a Republican.
Part of what a Democratic president has to do, if they want to retain a Democratic Senator in a bright red, ride-or-die-Trump state like West Virginia, is they literally plan out and deliver to that incumbent some battles they can win. Part of that President’s job is to create a handful of quite deliberate controversies for that Senator to oppose. And then let them win on that “for the people of West Virginia” blah, blah, etc. Especially this process has to be accompanied by some appearances on FOX to decry the fake controversy and explain their stalwart opposition to President Whozit. Lather. Rinse. Repeat. Win re-election.
This stands in stark contrast to the political instincts demonstrated by modern Republicans like Donald Trump or the Shit-lord DERPSTATE crybaby, wherein they railroad through the appointment of a giggling beer-drunk rapist to the Supreme Court and then look on admiringly as that same rapist pushes them across the finish line in forcing the victim of that rape to bear her rape-baby.
@154 That’s what happens when everybody wants their money all at once. Just ask James Stewart.
@ 175
…he’s absolutely not running as a Republican.
He doesn’t have to. He just needs to keep the Democrats from getting to 51.
Sohn withdrew within hours after he came out against her.
Another great victory for a Democrat.
A great leader like Our President Joe Biden, with a history of accomplishment and success, has it easily within his power to bestow this kind of victory upon those of his many loyal allies who need it.
It’s good to be the King.
Meanwhile, Everything that Touches Trump is Turned to Shit.
At least one or two of us received pardons.
I tell folks it’s like being forced to eat a shit sandwich in public one time. But then in return it’s strictly Wagyu beef from that point forward for the rest of your life. If you have a strong enough stomach, it seems like an okay deal at first.
But you can never really get that taste out of your mouth. Not completely.
Ah, more of the luscious fruits of Bidenflation.
PERSONAL FINANCE
Credit card debt is at an all-time high, putting households near ‘breaking point,’ study shows
Side hustles are why so many new jobs were created. It’s what people with pitifully small AGIs need to do in order to make ends meet.
Hey, AIDS medications are expensive. Blame him for how he got it, not for how much it costs him to treat it.
SVB, you fucked up! You trusted Biden!
Bidenflation torched one of America’s Best Banks today.
What can/will Bidenflation do for/to you?
There must be a Kyle Rittenhouse Exception clause in the bill, right?
Now we know Elon Musk gets his news from Tucker Carlson.
https://www.rawstory.com/elon-musk-tweets-support-for-qanon-shaman-jacob-chansley/
The definition of a “charter school” is a public school supported by taxpayer money run by an unelected board that doesn’t have to comply with open-meetings laws and can fire principals and teachers on a whim.
So if they’re not elected, who appoints them? Good question. They appoint each other.
https://nordot.app/1007067714855190528?c=592622757532812385
Anything that crushes government employee unions is a good idea.
@186 Let me guess. You applied for 20 government jobs and were rejected for all of them.