Financial News

[Balta1701]

FINRA does in fact protect consumers as part of their mission... but their consumers are, specifically, investors in the financial markets. If you are talking about consumer protection beyond that, like into say mortgages or retail banking, then FINRA has nothing to do with it.

Wait...I'm right?

[NorthSideSox72]

Wait...I'm right?

Yes. You and SS2K5 weren't actually disagreeing, you were in fact talking past each other and agreeing. It was kind of funny.

 

[StrangeSox]

[Jenksismyhero]

 

How is that even possible?

[StrangeSox]

We've made our taxation system considerably less progressive over the past 20-30 years. Note that it is all taxes, not just Federal Income Tax that used to trot out the "half the country doesn't pay a dime!" line.

[StrangeSox]

here is the white paper that's pulled from

 

http://www.ctj.org/pdf/taxday2011.pdf

[Balta1701]

Presumably there's quite a bit of state-by-state variation being covered up there as well. Tennessee for example, no income tax at all, heavy sales taxes, would slant the taxes collected to the lower income by a fair amount.

[StrangeSox]

State and local taxes often tend to be regressive, which counter-balances progressive federal income taxes. You also have the capital gains and dividends tax rates that make up a significant portion of the income and taxes on those at the top, plus more flexibility to form tax shelters.

[Iwritecode]

Didn't know where to put this really, but it's finance related:

 

http://money.cnn.com/2011/09/21/pf/cost_ra...child/index.htm

 

Holy balls kids are expensive.

 

We've gotten off pretty light on childcare costs as we've always had family members to watch our kids but the cost of just getting them registered for school every year seems to keep going up. That doesn't even include money for lunches, field trips, workbooks, etc...

 

Plus now my oldest is starting to get into driver's ed, class rings, homecoming dances...

[Balta1701]

I'm becoming increasingly impressed by people's candor over the last few days.

Goldman Sachs rules the world and the Euro zone is poised to crash, according to trader Alessio Rastani.

 

"This is not a time right now for wishful thinking that governments are going to sort things out," Rastani said on an interview with BBC on Monday morning. "The governments don't rule the world, Goldman Sachs rules the world."

 

The statement came towards the end of an almost three and a half minute interview in which Rastani warned viewers to "get prepared" for the inevitable: "The savings of millions of people are going to vanish" in less than a year, he said.

 

"This economic crisis is like a cancer, if you just wait and wait thinking this will go away, just like a cancer it's going to grow and it's going to be too late," he continued.'

 

.....

 

But the crash will be good news for traders, Rastani told the stunned BBC anchors.

 

"For most traders we don't really care about having a fixed economy, having a fixed situation, our job is to make money from it," he said. "Personally, I've been dreaming of this moment for three years. I go to bed every night and I dream of another recession."

 

Rastani said traders aren't the only ones who can benefit from the crisis.

 

"When the market crashes... if you know what to do, if you have the right plan set up, you can make a lot of money from this."

[StrangeSox]

there's been some grumblings that this is a Yes Men hoax

[NorthSideSox72]

I'm becoming increasingly impressed by people's candor over the last few days.

LOL, shocking, a trader who thinks he knows long term economics and is only out for his own gains. What's hilarious is, if the global ecomony does actually full-on collapse, all those paper gains he's got? Gone, because no one will be able to pay him. Idiot.

 

[mr_genius]

http://www.suntimes.com/7892293-417/inspec...s-on-table.html

 

tax tax tax

 

Ferguson is serving up 19 revenue generating ideas with tantalizing earning potential of $2.3 billion-a-year.

 

Chicago could raise $500 million-a-year by imposing a one percent city income tax, following New York City’s lead, the inspector general said.

 

A one percent commuter tax would have an annual take of $300 million. Resurrecting Emanuel’s controversial campaign promise to broaden the sales tax to an array of services not now covered — branded the “Rahm tax” by rivals — could yield $450 million.

 

Imposing a $5, London-style congestion fee on vehicles entering the city’s Central Business District during the morning and evening rush periods could raise $375 million, even after a 20 percent reduction in traffic to 400,000 vehicles-a-day.

 

Installing toll booths on Lake Shore Drive—and charging the average vehicle $2.50 — could raise $87.5 million, even after hefty capital costs.

 

too bad all these new taxes will just lower property values and convince people and business to leave the city. in the end they would lose money.

Edited September 27, 2011 by mr_genius

[Jenksismyhero]

In the end, just more ways to f*** the middle-class. I'm sure there will be poor exemptions, and the rich in the area probably don't care.

[NorthSideSox72]

http://www.suntimes.com/7892293-417/inspec...s-on-table.html

 

tax tax tax

 

 

 

too bad all these new taxes will just lower property values and convince people and business to leave the city. in the end they would lose money.

To be fair, his job was to recommend ways to close the budget gap, and he came up with 63 ideas to do so - less than half were increasing revenue.

 

Have to pick some. Might be a good thread idea, if we can get a hold of the full list, provide a target number to close, and see which cuts and/or increases people would pick.

 

[mr_genius]

To be fair, his job was to recommend ways to close the budget gap, and he came up with 63 ideas to do so - less than half were increasing revenue.

 

Have to pick some. Might be a good thread idea, if we can get a hold of the full list, provide a target number to close, and see which cuts and/or increases people would pick.

 

probably would be a good thread.

[Y2HH]

probably would be a good thread.

 

Not really, because his suggestions could have been suggested by a f***ing first grader...since they're all f***ing "well, no s***" suggestions.

 

Here is my prediction, and I'll be right about this just like I was right about the "no longer affordable health care act".

 

They're do a combination of fake cuts*, various nickle and dime tax increases, such as soda tax, gasoline tax, income tax, entertainment tax, increase various fees, such as stickers, etc...

 

...and despite all the increases in revenue and fake cuts*, nothing will change...budget shortfalls will continue to happen, and round and round we will go.

 

*fake cuts are the types of cuts governments propose, such as all the "cuts" we've implemented in the federal budget...where where pretend not increasing future costs count as cuts. For example, while we currently only spend 1M on X, and we "predicted" we'd be spending 2M on X in 5 years time...we will instead only be spending 1.25M in 5 years time...HENCE OUR AWESOME FIGURE OF "CUTTING .75 MILLION!"

 

Reality is, costs went up .25M, and they didn't cut dick. Because that's how we do things now.

 

Only in my family, we "cut" going out to fancy dinners to once every few months, down from once a week. IE, really real cuts. The kinds of cuts governments don't do.

 

What we love to do more than anything is stick our collective heads in the sand while we keep electing the same people to continue doing the same s***ty job. Let's all pretend these budget shortfalls came as a big surprise when over the last decade, despite the fact that we watched them band-aid short term s*** solutions like selling off City services, or the Skyway, only to blow through that windfall of money in less than 2 years time...to then find ourselves right back where we started, only worse, because all the while nothing was done to curtail it! Only now we are without valuable assets that could have been reformed to save money, kinda like the private enterprises that bought them did.

 

I've decided shooting holes into other peoples suggestions is my new desired method of posting, versus proposing wildly out of reach solutions in an ideal world none of us live in!

Edited September 27, 2011 by Y2HH

[NorthSideSox72]

I've decided shooting holes into other peoples suggestions is my new desired method of posting, versus proposing wildly out of reach solutions in an ideal world none of us live in!

If you prefer intellectual laziness, then go right ahead.

 

[Jenksismyhero]

Not really, because his suggestions could have been suggested by a f***ing first grader...since they're all f***ing "well, no s***" suggestions.

 

Here is my prediction, and I'll be right about this just like I was right about the "no longer affordable health care act".

 

They're do a combination of fake cuts*, various nickle and dime tax increases, such as soda tax, gasoline tax, income tax, entertainment tax, increase various fees, such as stickers, etc...

 

...and despite all the increases in revenue and fake cuts*, nothing will change...budget shortfalls will continue to happen, and round and round we will go.

 

*fake cuts are the types of cuts governments propose, such as all the "cuts" we've implemented in the federal budget...where where pretend not increasing future costs count as cuts. For example, while we currently only spend 1M on X, and we "predicted" we'd be spending 2M on X in 5 years time...we will instead only be spending 1.25M in 5 years time...HENCE OUR AWESOME FIGURE OF "CUTTING .75 MILLION!"

 

Reality is, costs went up .25M, and they didn't cut dick. Because that's how we do things now.

 

Only in my family, we "cut" going out to fancy dinners to once every few months, down from once a week. IE, really real cuts. The kinds of cuts governments don't do.

 

What we love to do more than anything is stick our collective heads in the sand while we keep electing the same people to continue doing the same s***ty job. Let's all pretend these budget shortfalls came as a big surprise when over the last decade, despite the fact that we watched them band-aid short term s*** solutions like selling off City services, or the Skyway, only to blow through that windfall of money in less than 2 years time...to then find ourselves right back where we started, only worse, because all the while nothing was done to curtail it! Only now we are without valuable assets that could have been reformed to save money, kinda like the private enterprises that bought them did.

 

I've decided shooting holes into other peoples suggestions is my new desired method of posting, versus proposing wildly out of reach solutions in an ideal world none of us live in!

 

The two parties in control have completely changed the narrative of elections. It's not longer about actual issues, it's about a bunch of fake bulls*** issues that get people riled up so that no matter who is in office a small elite still comes out ahead.

[NorthSideSox72]

The two parties in control have completely changed the narrative of elections. It's not longer about actual issues, it's about a bunch of fake bulls*** issues that get people riled up so that no matter who is in office a small elite still comes out ahead.

And they can do that because of the exact approach Y2HH is taking - giving up and relying purely on screaming and yelling about it.

 

[Y2HH]

And they can do that because of the exact approach Y2HH is taking - giving up and relying purely on screaming and yelling about it.

 

Yea, that's why they can do it.

 

Has nothing to do with the fact that they write the laws, so they know the loopholes in said laws or anything. Has nothing to do with their pockets being lined by the corporations they pretend to hate.

 

Republicans like big business...

 

Democrats like big banks...

 

Both parties are getting their pockets lined by their respective favorites...

 

But you're right...they can only do this because of people like Y2HH who gave up!

 

Heh.

 

I figured you to be smarter than that. But you're right...it's because of the centrists like myself that vote both ways (oh wait...I guess that shoots your crap theory to s***)...

 

Anyway. I'm actually their problem, but party line voters like so many people on this forum and in this country (and I'm not saying you specifically, because I actually do think you're smarter than that), are the ACTUAL reason why they can do it.

Edited September 28, 2011 by Y2HH

[southsider2k5]

Yea, that's why they can do it.

 

http://www.cnn.com/2011/09/27/opinion/gran...%3A+Politics%29

[Y2HH]

http://www.cnn.com/2011/09/27/opinion/gran...%3A+Politics%29

 

He about covers everything I say on here...only I'm called an idiot while he's celebrated. Says it all about some of you guys...

 

See, like Northside so awesomely points out...it's MY fault they get away with this stuff, because I'm a critical thinker that votes for candidates, not parties, and it's my fault that stupid voters continuously go with stupid candidates...

 

Whatever.

Edited September 28, 2011 by Y2HH

[NorthSideSox72]

He about covers everything I say on here...only I'm called an idiot while he's celebrated. Says it all about some of you guys...

 

See, like Northside so awesomely points out...it's MY fault they get away with this stuff, because I'm a critical thinker that votes for candidates, not parties, and it's my fault that stupid voters continuously go with stupid candidates...

 

Whatever.

If you are giving up on it, then you are among the enablers. You can choose that route if you wish.

 

And centrist has zero to do with it, since I'm about as close to net center as anyone who posts here.

 

[Y2HH]

If you are giving up on it, then you are among the enablers. You can choose that route if you wish.

 

And centrist has zero to do with it, since I'm about as close to net center as anyone who posts here.

 

I've only given up on the dream that they'll actually do what we elect them to do, but so long as a candidate I like runs, I still vote.

 

So dismissed because you tried to make a point without actually making one, by design, no less.

 

You need to stop basing your opinions on guessing and/or assumptions, which is exactly what you keep doing. Just because I don't want to "come up with solutions on a f***ing forum where it doesn't matter", doesn't mean I don't care.

 

I've just accepted what reality has shown is to be true, the idiots now control the vote, and there is nothing you can do about it. Where you enjoy pretending that's not the case...reality tells a different story.

Edited September 28, 2011 by Y2HH