• Krugminator2's Avatar
    Yesterday, 04:27 PM
    Reducing revenue to the government by shrinking the economy doesn't seem like a very good strategy.
    30 replies | 870 view(s)
  • Krugminator2's Avatar
    Yesterday, 12:13 PM
    Here is what is amusing about all of these soak the rich articles. It is true the absolute wealthiest people pay little in tax mostly because they hold shares of stock which is only taxable when sold. But NO ONE. Not one person in the media points of this FACT. The United States has the most progressive income tax system in the developed world. The top 10% of wage earners pay a far larger share of total tax receipts in the United States than any other developed country. America’s taxes are the most progressive in the world. https://www.washingtonpost.com/news/wonk/wp/2013/04/05/americas-taxes-are-the-most-progressive-in-the-world-its-government-is-among-the-least/ U.S. Taxes Really Are Unusually Progressive https://www.theatlantic.com/business/archive/2012/02/us-taxes-really-are-unusually-progressive/252917/
    30 replies | 870 view(s)
  • Krugminator2's Avatar
    06-12-2021, 05:45 PM
    Morally I don't agree with you at all and am completely opposed to this idea. But look at the economics of this in theory and in practice. You think a 5% wealth tax will balance the budget? Jeff Bezos is worth 190billion, Musk 153 billion Buffett 107 billion 5% of those three numbers is about $23 billion. The budget deficit was $3 trillion last year. Lets say it gets back to a more normal $1 trillion deficit. A 5% wealth tax on every billionaire doesn't even come close to balancing the budget. It gets you less than 10% of the way to balancing it. And then how are you going to collect on that? Bezos and Buffett have their money in publicly traded stock so they can sell shares to pay the bill. But what about if you are Elon Musk? How do you value Space X? It isn't publicly traded and doesn't make money. How do value everything Charles Koch has as a private company? And where does he get the money to pay that 5% bill being a private company? It isn't like he can just sell stock. It will cost a huge sums to audit these people and there will be endless court fights on valuations. You won't be able to collect. You will discourage the most productive people from being US citizens. And worst of all, you won't even sniff making a dent in the budget in even a perfect scenario where you collect 100% of what you think should be paid.
    30 replies | 870 view(s)
  • Krugminator2's Avatar
    06-09-2021, 08:18 PM
    Corporations don't pay taxes. People pay taxes. If you lowered the corporate tax rate to zero only three things can happen. 1. Return money to shareholders either as a dividend or buying back shares which are taxable to the shareholders 2. Reinvest the money which will be taxable to shareholders as a future capital gain. 3. Pay workers more which will be taxable Tax havens should be celebrated. They create competition and help keep taxes lower in the United States because if taxes are too high that money will just move to a tax haven.
    30 replies | 870 view(s)
  • Krugminator2's Avatar
    06-07-2021, 07:37 PM
    A headline from just a month ago was the opposite. https://www.google.com/amp/s/www.marketwatch.com/amp/story/the-vast-majority-of-americans-expect-home-prices-to-rise-but-most-people-think-its-a-good-time-to-buy-a-home-anyway-11620683759 Whenever I hear people talk about building wealth with home ownership I want to tear my hair out. I constantly hear how minorities are poor because of lack of home ownership. The reality is a home is terrible investment on average and is a huge money sink.
    5 replies | 277 view(s)
  • Krugminator2's Avatar
    06-05-2021, 02:01 PM
    This would not take any thought or hesitation on my part. I don't agree to something unless I've done my homework. If I agree but make a mistake, I would consider it tuition.
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-05-2021, 01:47 PM
    I didn't fully understand the fine and I am not saying Heemeyer is wrong. But it took him being an unreasonable asshole to get to that point. If I agreed to sell a car for a price, there is no dollar amount another person could offer that would prevent me from selling to the agreed on price. In Heemeyer's he raised the bids himself because he never expected them to be accepted.
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-05-2021, 01:18 PM
    Current gold price $1898 Average Gold price in year 2000- $278 1990- $383 1980- $594 1920- 20.67 Gold is up 500% since 2000 vs Spy up 350% Up 400% since 1990. Vs 2000% on Spy Up 200% since 1980 vs Spy up 9700%
    22 replies | 690 view(s)
  • Krugminator2's Avatar
    06-05-2021, 12:53 PM
    I said he lost access to the property because that was an argument Heemeyer made. That was untrue. Most zoning laws probably shouldn't exist. As far as I remember the cost from the concrete place was dust getting on Heemeyer's property which they should pay for. In my morality if you commit to something whether or not it is in writing you follow through on it. He didn't sign the paperwork to sell but he verbally committed twice and the second offer was one he proposed and was accepted. Then he tripled what he wanted. In my morality, backing out of that situation makes him a bad person. I personally would never do that and I judge someone who does. This whole issue is a hard issue for libertarianism. I used the example of people with crap on their property because it doesn't have a neat and easy solution. I think Ronald Coase won a Nobel Prize for articulating this problem. https://en.m.wikipedia.org/wiki/The_Problem_of_Social_Cost
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-05-2021, 11:52 AM
    He never lost road access to his business. I found out thsomet was a total myth. It was just less visible. He wanted to use government to stop development of the concrete business. From a libertarian perspective hard to have sympathy for that. He bought a landlocked property for ultracheap. Things that are cheap tend to price in costs like being land locked and needing sewage hookup. I don't have an answer on the sewage hookup. But he got two amazing offers for his property which he agreed to and welshed on. I don't think they forced him to sell as this was negotiated before zoning got approved. Once the zoning got approved he asked for a million for the property he paid 42k for. Hard to like that. He wasn't a person of integrity. The guy with the concrete business seemed very reasonable and patient to get a solution that was more than fair. My takeaway was he was a lonely guy who needed meaning so he became a religious fanatic who thought God was telling him to wage jihad against his enemies. When he sold his property for 400k and his dad died he got tired of living so he went out in blaze of glory. Not an exact analogy but this guy reminds me of someone who moves into a nice gated neighborhood and then lets his yard go to hell and then parks rusted out junk cars on the lawn with a ripped out bathtub randomly sitting there. And if his neighbors offer him 200k payment to clean up his property because it is lowering the value of their properties, he starts taking a righteous stand and refuses because he owns the land. In a sense he might be right to do as he pleases on his property but from a practical perspective his neighbors are being very fair with him. And if they pass an ordinance that says you can't gave crap on your property and then fine the guy and use courts to enforce the fine, it is hard to support the guy with the junk on his property.
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-05-2021, 10:44 AM
    I read it in high school. Had a big impression on me. About to turn 38. Went into sales out of college and haven't had a steady income since working minimum wage at a golf course in high school probably in part because of his philosophy. I left that out purposefully because I have a dislike (probably irrational) toward rentals. But if you buy rentals, cover the overhead with rental income, and constantly leverage to buy more rentals, and get the appreciation on the property that is probably an even better way to make money than stocks because of leverage and it being very tax advantaged. It never interested me and seemed like too much work. There is nothing wrong with speculation. Gold is a speculative asset where you trade supply and demand. But holding gold as an asset for pure appreciation will underperform equities by thousands of percent over a lifetime.
    22 replies | 690 view(s)
  • Krugminator2's Avatar
    06-04-2021, 07:05 PM
    Kiyosaki has been wrong about everything the last 10 years. Dooming in 2016 for example https://www.google.com/amp/s/www.marketwatch.com/amp/story/rich-dad-author-robert-kiyosaki-if-youre-investing-for-the-long-term-youre-crazy-2016-08-25. Great article from today about how bad it is not to invest in equities even at high valuations got back 100 years https://compoundadvisors.com/2021/should-you-invest-new-money-all-at-once-over-time-or-only-after-a-bear-market More money is lost anticipating inflation and market crashes than actual inflation and market crashes. If you have 22k just put it in equities and never think about again. No need to bet on gold or bitcoin or land or some fad. Equities always outperform over a lifetime.
    22 replies | 690 view(s)
  • Krugminator2's Avatar
    06-04-2021, 05:28 PM
    Still watching this. Was ready to be on this guys side because I know local city governments can be insanely corrupt with zoning. The guy bought a cheap landlocked property for $42k at a foreclosure auction. The person who owned the surrounding property wanted to put a concrete factory on the property which would obstruct entry and exit to the muffler shop. The city council approved the deal which would harm this this guy's business. The guy who built the concrete factory offered Marvin $250k in compensation for his property which Marvin agreed to. Then he reneged and asked for $375k, which he got! Then he reneged AGAIN on the deal and asked for a million. So they said fuck this guy. I am only half way in and haven't gotten to the sewage line costs and dealing with the the city council but already I hate this Marvin. He backed out of two deals he agreed that would have paid him 10x what he paid a year earlier. He's a dishonest guy who likes to be a victim. That's irrespective of what the government. Still watching though.
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-04-2021, 04:23 PM
    Never heard of this guy. Googled him and watching the Netflix doc called Tread from this thread right now.
    25 replies | 506 view(s)
  • Krugminator2's Avatar
    06-04-2021, 03:10 PM
    I see absolutely nothing to disagree with in Dave Ramsey's video. If you have 22k and are in your 20s, inflation isn't something you should be thinking about. If you are over 50 and have significant assets and thinking about a strategy that minimizes the chances of running out of money, giving some very minor weight and having a hedge to an out of control inflation scenario (as well as a deflation scenario) might make sense.
    22 replies | 690 view(s)
  • Krugminator2's Avatar
    05-27-2021, 07:35 PM
    Second highest rape rate in the world behind South Africa. https://www.bbc.com/news/magazine-19592372
    9 replies | 473 view(s)
  • Krugminator2's Avatar
    05-26-2021, 04:44 PM
    The ideal would be a big gap up a pull back and rally to blow out shorts and then 100 dollar move down in the afternoon.
    215 replies | 16659 view(s)
  • Krugminator2's Avatar
    05-25-2021, 09:34 PM
    Not such a good trade. I think if tomorrow closes red then that will start the decline. If not then maybe another month or two before it starts to break down.
    215 replies | 16659 view(s)
  • Krugminator2's Avatar
    05-23-2021, 11:53 AM
    Sounds like your friends are typical white devils with a colonialist mindset profiting off of the misery and oppression of brown people.
    17 replies | 341 view(s)
  • Krugminator2's Avatar
    05-22-2021, 12:11 PM
    The Twitterati weighed in on this topic and says entrepreneurs and innovators should work for the greater good and not be motivated by icky things like profit. From each according to their ability to each according to their need. Moderna was a fledgling biotech and out of nowhere was ahead of almost everyone in else in developing a Covid vaccine. Seems like in a moral society they should be heavily rewarded for such a thing.
    5 replies | 589 view(s)
  • Krugminator2's Avatar
    05-20-2021, 12:42 PM
    Came across this. Interesting takes from the "libertarians" over at Reddit. https://www.reddit.com/r/Libertarian/comments/ng6xbp/the_us_doesnt_have_a_labor_shortage_it_has_an/ Summary: Not a lot of love for John Stossel and business owners. Lots of love for unemployment benefits.
    31 replies | 3250 view(s)
  • Krugminator2's Avatar
    05-16-2021, 09:08 PM
    https://www.nytimes.com/2021/05/16/business/bill-melinda-gates-divorce-epstein.html#click=https://t.co/ZLyow3MNef Setting aside whatever that video says, I feel bad for Bill Gates about this article in the New York Times. He asked a woman out via email and even said if she didn't want to then forget he asked. And now she is saying it made her feel uncomfortable and inappropriate. WTF? Asking for dinner is now a crime? And he had a multi year relationship with another employee and now she is complaining? It's not great that Gates is doing this while married but he got ousted from the Microsoft board over asking women out and getting laid. Asking someone to dinner is not toxic behavior. The only person who should have interest in this is his maniac wife.
    2 replies | 197 view(s)
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