Wall Street Breakfast: Must-Know News [View article]
Aileron, actually the payroll tax is already a flat tax. So you can simply do the math using the revenue generated from payroll taxes to see what sort of a tax rate you need, then apply it to those making over $100,000 AGI that don't pay payroll taxes on that income above that level.
6 Major Signs Of Froth Could Force The End Of QE And A Correction [View article]
So far QE's have been preventing the treasurey from sucking to much money out of the economy to finance the massive deficits. So the effect has been positive in that it has masked the detrimental effect trying to raise more money to cover large deficits should have caused, which is higher interest rates. Now 2013 has turned out much bette than expected. Despite dire warnings about the fiscal cliff and the sequester the economy seems to be doing just fine, indeed it may actually be strengthening more than expected. Also deficits in 2013 have shrunk dramatically which should allow the fed to slow or stop QE3 "if" their primary desire was to prevent the treasurey from sucking capital out of the economy. Whether they do this or misjudge their purpose remains to be seen. Clearly right now with the government not needing to borrow more and the fed buying $85B of debt from the market, there is plenty of excess money avaiable to lower EU interest rates and invest in the stock market.
I think that means we have a nice summe rally producing a mini-bubble. The question will be how fast it pops and by how much one the fed finally decides it is time to move to the sidelines.
Wall Street Breakfast: Must-Know News [View article]
With Apple and the IRS story we certainly have an opportunity for a bi-partisan solution to the corporate side of the tax code. Let's see if they can get that done.
Wall Street Breakfast: Must-Know News [View article]
Well the law is pretty clear, you pay your taxes in the country where the intellectual property is registered. What is a farce is that in this case that country leaves it ambiguous whether you should then pay taxes in the country of purchase since they don't charge you taxes on the intellectual property. So it is not our laws but rather those of Ireland that are the real problem.
Wall Street Breakfast: Must-Know News [View article]
Today you will have the first government official taking the 5th. That should make it on the news and of course get some peoples attention. Personally I find it reprehensible that a government official can take the 5th on giving testimony about her job. Hopefully she will be "retired" immediately.
Wall Street Breakfast: Must-Know News [View article]
Reality is tht most of the financial damage was done by the media trumping up the fear and scaring away tourists. Even the east coast of Florida was impacted because of the ludicrous stories they were propagating.
Then BP had to pay for the recession damage which of course was significant.
In the end very few tourist beaches were fouled for any length of time because most of the oil stayed way offshore. So the actual damage was very minimal.
The primary damage was done to the fishing industry which was forced to stop fishing due to government restrictions, so that is where most of the compensation should have gone and that amount should have been way way under $1B as the entire industry is only like half a billion.
Wall Street Breakfast: Must-Know News [View article]
Bob, the GE paid zero taxes storyline was based on earnings post 2008. Yes they have returned to profitability now that their losses from their credit arm are quantified and actually over compensated for. Remember, most of the HUGE losses companies took in 2008 were due to "projected" losses. Ford for example took a huge write-off on plant and equipment that they later reversed to the tune of $16B, so Ford never really lost $20B in 2008.
Wall Street Breakfast: Must-Know News [View article]
20% of zero is still zero and I think there is a large deduction so that pretty much leaves out incomes under 10k. Clearly the poor issue is easy to fix by increasing the standard deduction.
Wall Street Breakfast: Must-Know News [View article]
Well many would still be needed to do the financials for the corporations for reporting their earnings and likely that would also apply to private companies who have to report to their owners.
Wall Street Breakfast: Must-Know News [View article]
Iron Hamster, GE didn't pay takes because they had MASSIVE losses in their banking business to offset profits. So it is a bit unfair to claim GE doesn't pay taxes. The biggest offenders of this offshore money holding and tax evation scheme are companies like Google, Apple and Intel and guess where they are all located?
Wall Street Breakfast: Must-Know News [View article]
sb that is 5% for this year, or about a 10% rate of return on a yearly basis. Then there are the increases in 2014 and 2015. Since you can't make any money in cash or in short term bonds it simply is obvious that the stock market and dividend payers are the place to be for the next 2-3 years.
Remember we have yet to see the flight from bonds to stocks which will occur when interest rates go up which WILL happen when the fed gets off QE3.
Just look at DVY trading at a 14 P/E and a 3.4% dividend. Now compare that to a 5 year treasurey or even high quality bonds like LQD yielding 3.83% with downside risk if interest rate go up.
Wall Street Breakfast: Must-Know News [View article]
CP honestly as long as we keep ramping oil production by 1+M bpd the economic autolook has to be quite rosey. Also given that our deficits have been significantly gotten under control thanx to growing revenue the political gridlock is not an issue.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
6 Major Signs Of Froth Could Force The End Of QE And A Correction [View article]
I think that means we have a nice summe rally producing a mini-bubble. The question will be how fast it pops and by how much one the fed finally decides it is time to move to the sidelines.
6 Major Signs Of Froth Could Force The End Of QE And A Correction [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Then BP had to pay for the recession damage which of course was significant.
In the end very few tourist beaches were fouled for any length of time because most of the oil stayed way offshore. So the actual damage was very minimal.
The primary damage was done to the fishing industry which was forced to stop fishing due to government restrictions, so that is where most of the compensation should have gone and that amount should have been way way under $1B as the entire industry is only like half a billion.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
Remember we have yet to see the flight from bonds to stocks which will occur when interest rates go up which WILL happen when the fed gets off QE3.
Just look at DVY trading at a 14 P/E and a 3.4% dividend. Now compare that to a 5 year treasurey or even high quality bonds like LQD yielding 3.83% with downside risk if interest rate go up.
Wall Street Breakfast: Must-Know News [View article]