/biz/ - Business & Finance

>>10214257
Did you actually make this video?

Have you ever actually studied economics?

>>10214323
No, I just thought it was a funny video.

Did you actually watch it? (Obviously you didn't)

>>10214344
I am watching it now, but Its pretty common knowledge that "trickle down" is just a framing device for a large vaguely defined conservative fiscal policy.

I watched one of the guys other videos months ago, but it was painfully ill-informed. dunning Krueger effect in maximum effect. Like an overexcited undergrad.

>>10214257
Goddamn i hate the left.

>I am watching it now, but
Sure you are cunt.

>>10214380
>common knowledge
>implying average people have thought about economics beyond how much they make and how much food costs

>dunning Krueger effect in maximum effect
>self-awareness on /biz/
yikes

I didn't agree with everything he said, but its nice to actually hear someone say the obvious.

>>10214380
2nd part is for this cunt
>>10214428

>>10214434
>but it's nice to actually hear someone say the obvious.
I can't see why... but I guess if it makes you happy. But this is the business board... I assume most people know some basic econ.

I am 30 mins in. Does this get any better? He already claimed that "supply creates demand" which is not even what actual supply-side economists believe. I can't image it gets worse.

>>10214428
I am sure anon friend
>>10214257
would prefer that his thread gets no responses for 130 mins.

>>10214380
kek
/biz/ does not have the attention span for a nearly two hour video

>>10214497
>But this is the business board
>buy my crypto please sir
>next 1000000x moon shot coin!
>buy buy buy buy!
>sell sell sell sell!
>dick pics
>best way to kms?
Almonds are revving up....

>2 hours
>watch basedboy rant for 3 minutes, didn't learn anything
i'll pass

>>10214604
>watched 3 minutes of a video
>doesn't learn anything
>basedboy
color me surprised

why is it that poor people think they're deserving of anything from other people/ their taxes don't even pay for all of the benefits they receive.

if were ever going to move into a post-scarcity society, we'll be leaving shitskins and poor people long behind.

>>10214257
No one called it trickle down but Liberals lol. The current system isn't trickle down anyway, middle class and lower class income taxes were cut by more (~3.1%)than rich income taxes (~2.6%). And that's without counting the Standard Deduction (the amount not taxed automatically) being increased by $5,500 or $10,000 for married couples. Plus the loopholes being cut making tax-avoiding companies get fined out the ass. Thousands of companies paid millions or billions of dollars, most noted are Goldman Sachs at 5 billion and Apple at 38 billion.

>>10214678
Honestly is this your video?

I watched it. It repeats a lot, and used clips of politicians completely out of context for "jokes".

Glad its "political juice" and not economic juice or his opinions would actually have to have to explain other than reading econ 101 lecture slides.

I honestly laughed when he said corner stores in low-income/ high crime neighborhoods charge higher prices for groceries because of shoplifting. Then he goes on to say that people leave the area AT COST PERSONAL EXPENSE to go to a grocery store in a nice market in a better area.

The mere fact that people have to PAY to have access to your competitor's goods means that you have market power. If you have market power you can charge higher prices without losing revenue.

I can't handle the smuggies. They are too powerful.

>>10214759
middle and lower class people dont make enough money to be worth taxing anyway.

Dropping the highest tax bracket by 1% is the same as dropping the bottom bracket by 2%.

The "trickle down" part is the expectation that the reduction in taxes on the richest members of society will benefit the common man MORE than the government programs that those taxes paid for.

>>10214711
I thought this was another interesting video about zero sum and wealth generation, although they use it to support their political agenda. They imply that if enough poor people become educated and wealthy, that they will create the next innovation, which has never happened, new innovations always come from the most advanced societies. However, there is the interesting point that as superior societies advance, their obsolete technology becomes the standard for lesser societies. In 200 years, all of Africa could potentially be living like Americans today, but Americans in 200 years might have essentially gained immortality and total automation.

https://www.youtube.com/watch?v=rvskMHn0sqQ

>>10214816
No, its not my vid, just thought it was a better topic than the 20 pajeet shilling threads here.

>>10214816
Current tax codes weren't about lowering the taxes on the richest, that's a #reeeeesist claim that's absolutely laughable. The current tax cut was about lowering COMPANY taxes from 35% to 25%, which added 10% total profits onto net profits. For many companies this meant DOUBLING what they could keep, which lead to the first time that wages increased in 19 years and also lead to a record tax revenue collection in April 2018 despite taxes being so much lower.

You're complaining about the neocon bullshit of 30 years ago when we're onto the good shit now. Welcome to the actual Workers Party.

>>10214848
>Current tax codes weren't about lowering the taxes on the richest, that's a #reeeeesist claim that's absolutely laughable. The current tax cut was about lowering COMPANY taxes from 35% to 25%, which added 10% total profits onto net profits. For many companies this meant DOUBLING what they could keep, which lead to the first time that wages increased in 19 years and also lead to a record tax revenue collection in April 2018 despite taxes being so much lower.

Sure, but the "trickle down" part is still the same. In order to claim the tax cuts benefits the average american, you need to expect that the benefits
> increased wages
outweighs the costs of
> cuts to social programs

Do you believe this? Do you believe that allowing companies to retain more of their profits will eventually lead to improvements in the welfare of the common man?

>>10214933
The benefits aren't direct or immediate, its in the form of larger economy, increased supply and thus cheaper price of goods, and innovation that were previously be unaffordable. It means bread costs less and everyone has a smart phone.

>>10214933
Nigger do you read. You don't need to just get your increased employment and higher wages, you yourself also get 3.1% total salary + ($5,500 * 0.{Federal Tax Rate}). For someone making 45k this means essentially a $2,055 tax-free check over the course of every year of their lives. That absolutely outweighs the bullshit programs that most working men pay for but never see. Even then, we didn't even cut most of the programs and the ones that we did were cut, not removed. The net benefit for the working man is HUGE.

>>10214952
>>10214952
All of those are true, but there is little evidence that those effects are larger over the lifetime of an individual than just directly transferring money from the rich to the poor.

Essentially you are letting the rich enjoy life more now based on the possible future benefits for the lower classes.

Or we could just make the poor better off now by giving them money today at the expense of the rich.

>>10215017
>we didn't even cut most of the programs and the ones that we did were cut, not removed.
Google Ricardian Equivalence.

>For someone making 45k this means essentially a $2,055 tax-free check over the course of every year of their lives.

Cool. Median income is 30k. and lets plot your formula!

>>10215071
>let's plot your formula!

>Lower total taxes by 3.1%
$45,000 * .031 = $1,395
>Standard Deduction increased by $5,500
$5,500 * 0.12 = $660

$1,395 + $660 = $2,055

Their federal income tax should average out at 15% but I assumed they used some deductions to drop that by 20% of their total taxes, so I treated their tax rate as 12%. If they did not, they save even more by the standard deduction option.

>Ricardian Equivalence
>debt-financed government spending
This is the opposite of debt-financed government spending. We're refocusing on civilian-based economy by letting our lower and middle class have more money and letting our companies compete worldwide. The EU and Canadian federal income tax rates are around 25%, while ours was 35% plus state. We're lowering DOWN to your socialist model, we were incredibly wayward before.

Our workers are prospering and you people haven't been this mad since we freed the slaves.

>>10215071
>>10215114
One more issue: "Median" income includes all teenagers, welfare recipients, and hobbyists (every stay-at-home mom). Men who work real jobs make 40k. Even government jobs which every flyover is filled with pay 40k.

>>10215071
>transferring money from the rich to the poor is better solution
Literally all of human history has shown this is false. Every time poor people gain inordinate wealth, society stagnates or fails. Do you actually have an example where this worked, because all of Africa proves giving away money doesn't work, and China proves that overall economic growth and gradual income class movement does work.