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So, will the current tax revision hose job influence your coin buying and selling in the New Year??

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  • 1Mike11Mike1 Posts: 4,416 ✭✭✭✭✭

    @crazyhounddog said:
    I like all you guys so I’m gonna move on.
    I have said enough and probably too much for this coin forum. I do believe the forum mods are on Christmas Vacation at this s point :) and I like it here. So, the answer the original question. Yes I do believe that more money in your pocket equals a stimulation of the economy. More coins will be bought and sold along with our coins going up in value.
    Of course this is just my opinion.
    Merry Christmas to all, Joe

    I checked, Don was here earlier. I was hoping I still had time to read the thread. o:)

    "May the silver waves that bear you heavenward be filled with love’s whisperings"

    "A dog breaks your heart only one time and that is when they pass on". Unknown
  • 1Mike11Mike1 Posts: 4,416 ✭✭✭✭✭

    @jwitten said:

    @Walkerguy21D said:
    Or better yet, take the savings they are giving you and put it towards a good charity of your choice
    Not a bad idea, jwitten, I can give even more. Or save more for the inevitable massive health insurance premiums I'll be facing one of these days. I hope you enjoy your windfall on whatever it is you plan on doing with it.

    Healthcare is so screwed up by both sides now. I am self employed and paid for our own, and it was estimated to go from about $860 to $1,400 next year. We decided to go with a Christian health share plan instead for around $500. Oh, and I'll add this. This is what conservatives want! Take YOUR own money, and use it for YOUR own healthcare! Taking personal responsibility. America could use a little more of that these days.

    HA! Lets find out what type of coverage these lawmakers have and who funds it. :D

    "May the silver waves that bear you heavenward be filled with love’s whisperings"

    "A dog breaks your heart only one time and that is when they pass on". Unknown
  • PerryHallPerryHall Posts: 46,465 ✭✭✭✭✭

    Let's not forget that reducing corporate taxes is a good thing. Many middle class workers have a 401K or similar pension plans that include common stock that will increase in value and pay higher dividends with this corporate tax cut. Also, lower corporate taxes will encourage businesses to expand operations, hire more employees, and to stay in the U.S. rather than to move to another country with a more favorable tax structure. These corporations and businesses create the jobs that allow us to have one of the highest standards of living in the world.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • edited December 21, 2017 8:32AM
    This content has been removed.
  • 10000lakes10000lakes Posts: 811 ✭✭✭✭

    Average tax rates can be misleading.
    Corporate tax loopholes vary greatly by industry.
    I have no idea if the new lower statutory rate levels the playing field between companies or just means more of the same.

    nytimes.com/interactive/2013/05/25/sunday-review/corporate-taxes.html

  • jwittenjwitten Posts: 5,216 ✭✭✭✭✭
    edited December 21, 2017 8:49AM

    @FadeToBlack said:

    Additionally, almost all stock is owned by the very wealthy.

    >

    According to your own data, 63% of stock is owned by the "99%". So I would say you helped him make his point, not yours :)

  • Coin FinderCoin Finder Posts: 7,272 ✭✭✭✭✭
    edited December 21, 2017 8:51AM

    Ok lets wrap this up.... My hope is that the corporations will reinvest this "new" money into new jobs, infrastructure, etc and not share buybacks and dividends etc..... Nothing in the Bill mandates that they do anything with this money. So let's hope more money will be spent on coins!!!!!

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭

    @PerryHall said:
    Let's not forget that reducing corporate taxes is a good thing. Many middle class workers have a 401K or similar pension plans that include common stock that will increase in value and pay higher dividends with this corporate tax cut. Also, lower corporate taxes will encourage businesses to expand operations, hire more employees, and to stay in the U.S. rather than to move to another country with a more favorable tax structure. These corporations and businesses create the jobs that allow us to have one of the highest standards of living in the world.

    less then 50% of Americans have a 401k in the private sector. Many of those don't have company matching stock programs as they as private

    About 52% of Americans actually own stock. The lowest it's been since that number has been being kept track of

    If you consider being ranked #18 in the world In quality of life as high then I think your standards are low. I'm sure one can dig up one that says we are #10 or something or one could just claims "fake" news at the # 18 ranking. Americans who havent traveled internationally extensively in the past 30 years always think the US has a very high standard of living.

    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Desert MoonDesert Moon Posts: 5,931 ✭✭✭✭✭

    .> @jwitten said:

    @tradedollarnut said:

    @bolivarshagnasty said:
    As I understand the theory of this tax plan, a more robust economy will bring in more revenue. This, in turn, will help to reduce the deficit. My money is on Congress spending any extra revenue realized in this manner. This will be the flaw in this grand scheme.

    Trickle Down = Voodoo Economics

    Lol

    Well, the good thing about this plan is, it is putting money in almost all low and middle class families, not just wealthy. So it's not really trickle down... more just like, "keep more of your money, no matter who you are" :)

    Actually, and this is not to be political but based on the tax plan calculators on CNN Money webiste, the lower class folks don't pay any tax at all ($40K or less income), so this has no benefit to most of the lower class. Only a very small benefit for those making up to $80K from what their calculators show. Means their coin buying won't go up....

    On the other hand, the NYT article that Eagle Eye linked to shows that federally funded basic research programs like NSF and NIH, the ones that lead to breakthroughs and spur on the economy over long periods of times, will see serious reductions based on their Sequester numbers that will kick in. These programs were already stripped to the bone during the last decade as it is. That means less scientists working as scientists and instead at Target on minimum wage. So their coin buying activities are likely to go down as well. Alot of coins collectors are also scientists........ So not good for the hobby.

    Best, SH

    My online coin store - https://desertmoonnm.com/
  • Desert MoonDesert Moon Posts: 5,931 ✭✭✭✭✭

    @jwitten said:

    @Walkerguy21D said:
    Or better yet, take the savings they are giving you and put it towards a good charity of your choice
    Not a bad idea, jwitten, I can give even more. Or save more for the inevitable massive health insurance premiums I'll be facing one of these days. I hope you enjoy your windfall on whatever it is you plan on doing with it.

    Healthcare is so screwed up by both sides now. I am self employed and paid for our own, and it was estimated to go from about $860 to $1,400 next year. We decided to go with a Christian health share plan instead for around $500. Oh, and I'll add this. This is what conservatives want! Take YOUR own money, and use it for YOUR own healthcare! Taking personal responsibility. America could use a little more of that these days.

    Almost every other first world country has a government based single payer health care system - what is it that these countries see that we don't? But not sure how this health care subthread has anything to do with coin buying?

    Best, SH

    My online coin store - https://desertmoonnm.com/
  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    @FadeToBlack claimed: "The US's current effective corporate tax rates are comparable to other highly developed nations."

    May we please see the graph with percentages to confirm this statement as it was left out of your post above. :)

  • Desert MoonDesert Moon Posts: 5,931 ✭✭✭✭✭

    @jwitten said:

    @FadeToBlack said:

    Additionally, almost all stock is owned by the very wealthy.

    >

    According to your own data, 63% of stock is owned by the "99%". So I would say you helped him make his point, not yours :)

    But 82% of the stock is owned by the upper 10%.....

    So they are who are going to be buying coins and have the spare money to do so.

    Best, SH

    My online coin store - https://desertmoonnm.com/
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,444 ✭✭✭✭✭

    As long as we raise the debt ceiling, I'm going deeper in debt. Our country 'tis of thee. Sweet land of Liberty.

  • 10000lakes10000lakes Posts: 811 ✭✭✭✭

    US tax rates compared to other G20 countries.

    https://taxfoundation.org/cbo-report-compares-us-corporate-tax-g20/

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    edited December 21, 2017 10:19AM

    @PerryHall said:

    @jwitten said:

    @FadeToBlack said:

    Additionally, almost all stock is owned by the very wealthy.

    >

    According to your own data, 63% of stock is owned by the "99%". So I would say you helped him make his point, not yours :)

    FadeToBlack---It looks like much of the decline in stock ownership occurred during the Obama administration. Under Trump the economy has been strengthening with unemployment dropping. What percentage of the MIDDLE CLASS own stocks? I imaging this decline in stock ownership will reverse. This revision of the tax laws was never intended to help the poor since most don't pay federal taxes. It was designed primarily to help the middle class and corporations and business that provide employment to the middle class.

    The decline started during the financial meltdown. A lot of folks vowed never to own stocks again after the financial melt down. Sorry that happened on someones else's watch. A lot of people have been on the sidelines ever since. They don't trust the markets and missed the great run up the past 10 years. The markets have been going up for years. Unemployement has has been going down for years.

    Show me a ten year unemployememt chart. Show me a ten year stock market chart.

    The fact is almost half of Americans don't own stock so having the market at an all time high doesn't make them participants.

    Mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • logger7logger7 Posts: 8,732 ✭✭✭✭✭

    https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world
    https://www.dcreport.org/2017/12/21/deducting-a-ceos-jet-but-not-a-cops-uniform/

    Many companies already had endless shelters to pay less much less. No real debate is bad for a country of over 330 million.

    It will be interesting to see where the big bonus checks end up. Not too many numismatic collectors on Wall Street.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    @Lakesammman said:
    I'm not seeing a revision of the OP??

    This is coin related - I'm going to be buying and submitting fewer US Coins as a result of this legislation. I'd be nervous if a US coin dealer.

    Doctors are getting the shaft on both ends - higher taxes now and lower reimbursement down the road as the reconciliation kicks into effect on medicaid/medicare. It would be nice to buy a car or house and have to pay only 39c for each dollar owed like health care bills. Now with the Health Care mandate removed, we get to provide more free care to those who don't have insurance.

    Along with the increase in the national debt, it's just awful legislation.

    It would be even nicer to be a coin dealer and have the government pay for any coin that you and the customer deem necessary for the health of his collection.

  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭

    It's morning again in America.
    :)

    Some coins are just plain "Interesting"
  • 10000lakes10000lakes Posts: 811 ✭✭✭✭

    The advanced countries of the world all have a debt based economy.
    Once you understand how money is created, you will understand why there is so much debt in the world. (personal, corp, gov, etc...)

    It is what it is, and for the time being it's what we're stuck with.
    Paying off debt as an individual is a good thing, but there is no way to reduce debt across the board without collapsing the economy.

    Maybe someday it will all imploded and a 'new' system will be created. But until that day, debt will selectively impose hardship on a subset of people, corps, and government's. Under a debt based economy there will always be winners and losers. Generally the winners own the debt and losers are burdened by paying the debt + interest.

    Here is a link that explains some of this in simple terms.
    It's a UK link, but the same applies to any debt based economy.

    positivemoney.org/issues/debt/

  • crazyhounddogcrazyhounddog Posts: 14,004 ✭✭✭✭✭

    Yes it’s a new day in America ;)

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
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  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭

    I am going short on Uranian Mint products. B)

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • crazyhounddogcrazyhounddog Posts: 14,004 ✭✭✭✭✭

    @ColonelJessup said:

    NT or AT, and would you ship without the check clearing first? :'(

    He has the money the last time I checked. I wouldn’t worry about it.

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • crazyhounddogcrazyhounddog Posts: 14,004 ✭✭✭✭✭

    @ColonelJessup said:
    I am going short on Uranian Mint products. B)

    You can thank the Clintons ;)

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭
    edited December 21, 2017 11:47AM

    @10000lakes said:
    US tax rates compared to other G20 countries.

    https://taxfoundation.org/cbo-report-compares-us-corporate-tax-g20/

    THANK YOU. I thought what one member posted was just a BS "talking point!"

    Too bad Ireland is not on the list. I heard that they dropped their rat from one of the highest and they have experienced 24% growth since. Of course they don't count as I don't consider them highly industrialized. Germany sure is.

    YIKES, I o:) need a like quick please to change the 666 >:) points total!"

  • KkathylKkathyl Posts: 3,762 ✭✭✭✭✭

    @Windycity if you live in any state other than CA, NY, NJ... it has been a hose Job having all the other states pay the bill. That was over 31 years of taxation without representation. Perhaps folks will question now about all the policies and taxes? maybe it leads to accountability. No reason anyone but the folks living in those states should be paying for it.

    Best place to buy !
    Bronze Associate member

  • PQueuePQueue Posts: 901 ✭✭✭

    RE:
    No reason anyone but the folks living in those states should be paying for it.

    Bingo!

  • david3142david3142 Posts: 3,571 ✭✭✭✭✭

    @PQueue said:
    RE:
    No reason anyone but the folks living in those states should be paying for it.

    Bingo!

    It sounds reasonable in theory but it ignores the fact that the residents of those states pay a highly disproportionate share of federal tax and receive far less than average in benefits.

  • jwittenjwitten Posts: 5,216 ✭✭✭✭✭

    @david3142 said:

    @PQueue said:
    RE:
    No reason anyone but the folks living in those states should be paying for it.

    Bingo!

    It sounds reasonable in theory but it ignores the fact that the residents of those states pay a highly disproportionate share of federal tax and receive far less than average in benefits.

    You are using the same argument Republicans use too... lol. The rich pay the highest taxes, yet do not receive the benefits the poor do. Both sides have the same argument, just using it in different ways. Ironic.

  • david3142david3142 Posts: 3,571 ✭✭✭✭✭
    edited December 21, 2017 2:48PM

    You can’t solve this problem heuristically by trying to figure out what is “fair” Just by looking at simple tax rates. Is it more fair to have someone who earns $100K in NY pay the same total tax as someone who earns the same and lives in FL? Or maybe it is more fair to consider only the federal portion? Perhaps we should make a cost-of-living adjustment because the latter person is undoubtedly “richer” than the former in terms of what he can afford. The tax code is a mess of trying to incentivize certain behaviors and appealing to various lobbies. Renters are subsidizing homeowners. People without kids are subsidizing those with kids. Whether you agree or disagree with these trade-offs, it is usually far from obvious that appealing to a basic percentage rate is going to adequately answer the question.

  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    edited December 21, 2017 2:44PM

    @crazyhounddog said:

    @ColonelJessup said:
    I am going short on Uranian Mint products. B)

    You can thank the Clintons ;)

    You've had two chances to notice you've been trolled.
    The Uranian provenance is ..... :* never mind..... :'(B)>:)

    Check your shorts :s

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • ArizonaRareCoinsArizonaRareCoins Posts: 679 ✭✭✭✭
    edited December 21, 2017 3:02PM

    @david3142 said:

    @PQueue said:
    RE:
    No reason anyone but the folks living in those states should be paying for it.

    Bingo!

    It sounds reasonable in theory but it ignores the fact that the residents of those states pay a highly disproportionate share of federal tax and receive far less than average in benefits.

    California receives the most Federal Spending by State by far. SALT is just a way for them to steal from all the other states:

  • david3142david3142 Posts: 3,571 ✭✭✭✭✭
    edited December 21, 2017 4:30PM

    You’ve gotta be kidding me. You have to present those numbers per capita to get a meaningful comparison. If you do that, you’ll see California (at $8450) is well below the average of $9450.

    Also missing from that is how much each state contributes.

  • 10000lakes10000lakes Posts: 811 ✭✭✭✭
    edited December 21, 2017 3:43PM

    To be fair you do realize that California has the largest state economy.

    Which States Rely the Most on Federal Aid?

    State-level taxes may be the most visible source of state government revenues for most taxpayers, but it’s important to remember that they are not the only source of state revenue. State governments also receive a significant amount of assistance from the federal government in the form of federal grants-in-aid. Federal aid is given to states for Medicaid, transportation, education, and other means-tested entitlement programs administered by the states.

  • CoinspongeCoinsponge Posts: 3,927 ✭✭✭

    If the changes spur on the economy as predicted then I doubt loss or reduction of a state tax deduction will not affect the overall demand for coins. I suppose the numbers vary by individual but some in high tax states might still come out ahead.

    Gold and silver are valuable but wisdom is priceless.
  • MrEurekaMrEureka Posts: 24,335 ✭✭✭✭✭
    edited December 21, 2017 4:01PM

    If my accountant tells me to pre-pay my 2018 real estate taxes before the end of 2017, it will affect my short term budget for coins. That is, if I had a budget.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • NicNic Posts: 3,391 ✭✭✭✭✭

    SALT. My HS kids baseball nickname and the ninja fisherman.

    Coins include history, politics, taxes, etc. in their being. We all like coins. Happy Holiday's. Fish more. -)

  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭
    edited December 21, 2017 4:21PM

    hose Job? You must be one of the folks that thinks the federal government owns Americans money and deserves it.

    Taxes ARE NOT PART OF THE WELFARE SYSTEM FOR GODS SAKE!!!!!!!

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    edited December 21, 2017 4:24PM

    @MrEureka said:
    If my accountant tells me to pre-pay my 2018 real estate taxes before the end of 2017, it will affect my short term budget for coins. That is, if I had a budget.

    I asked my accountant the same this morning. In my case he said not to. I'm going to take a haircut next year

    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    edited December 21, 2017 4:30PM

    @10000lakes
    @david3142

    No kidding. Thanks for chiming in and calling out the BS.

    California's $2.717 trillion economy is larger than that of any other state. No other state is remotely close. If it were a country, California would be the 5th largest economy in the world.

    We would actually like to keep more but Uncle Sam does not agree.

    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    I'm glad the mods are being lenient. I'm learning a lot and everyone is being polite! All this political stuff affects how much many of us have to spend on hobbies.

    @tradedollarnut said: "The rich receive the entire infrastructure of our great country allowing them to become rich and enjoy the fruits of their wealth in peace and safety."

    Well, that's a good point. YOU of all here should know what you are talking about!"

    @jessewvu said: "hose Job? You must be one of the folks that thinks the federal government owns Americans money and deserves it. Taxes ARE NOT PART OF THE WELFARE SYSTEM FOR GODS SAKE!!!!!!!"

    That's funny, Exactly where does the money come from that our government gives out (including to foreign nations)? I know they turn paper into money at will but where does the rest come from to support the other things like the welfare system?

  • crazyhounddogcrazyhounddog Posts: 14,004 ✭✭✭✭✭

    @ColonelJessup said:

    @crazyhounddog said:

    @ColonelJessup said:
    I am going short on Uranian Mint products. B)

    You can thank the Clintons ;)

    You've had two chances to notice you've been trolled.
    The Uranian provenance is ..... :* never mind..... :'(B)>:)

    Check your shorts :s

    My shorts are clean.
    It’s only going to be the biggest scam in US history when you check the real facts! This is already on the table for AG Sessions. Time’ll tell

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.

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