Message from @Sh0t
Discord ID: 646688547339894784
Cool beans though
Part of Trump's explanation for the TCJA was to encourage overseas held corporate money to come back, hence the reduction to 21%
```Before the new tax law, companies kept much of their overseas profit offshore to avoid a 35% tax that kicked in when they brought the money back to the U.S. The Republican tax law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets, regardless of where the profits sat.```
```Corporations brought $100.2 billion of overseas profits back to the U.S. in the first quarter, marking $876.8 billion that has returned since Congress overhauled the international tax system and prodded companies to repatriate more.
The cash that has come back to the U.S. falls short of the $4 trillion President Donald Trump said would return as a result of the 2017 tax law. Investment banks and think tanks have estimated that U.S. corporations actually held $1.5 trillion to $2.5 trillion in offshore funds at the time the law was enacted.```
Not as much as promised, but some of that is repatriation
it didn't translate to much wage growth, it mostly went to buybacks, so it was a silly gimmick to pump the stock market if anything
So Taleb applauds Trump for trying to avoid war with Iran. I think destroying the nuclear deal with Iran was on the right path to that anyway so 2 steps back, 1 step forward on that one
@AlphaUK to understand what I said about the Euro and immigration, read this prediction of what problems the EuroZone would have in 1992, particlarly the last paragraph:
https://www.lrb.co.uk/v14/n19/wynne-godley/maastricht-and-all-that
1992?
I didn't read all of it because it was hurting my brain a little bit but the last paragraph was pretty interesting
yea he predicted what would happen
> The 2003 North American Free Trade Agreement (NAFTA) deregulated all agricultural trade, except for corn and dairy products. The Mexican government complains that since NAFTA’s initial implementation in 1994, the United States has raised farm subsidies by 300 percent. As a result, Mexican corn farmers, who comprise the majority of the country’s agricultural sector, experienced drastic declines in the domestic price of their product. It should come as no surprise, then, that the United States began to experience an influx of Mexicans looking for employment in the latter half of the 1990s.
> “An Ethnographic Study of the Social Context of Migrant Health in the United States.” In the study we learn that 95 percent of agricultural workers in the United States were born in Mexico and 52 percent are undocumented.
> Out of all the crops that farmers grow, the government only subsidizes five of them. They are corn, soybeans, wheat, cotton, and rice.
> Corn is the nation's biggest crop. Over 15 billion bushels were grown in 2017, with 15% exported. The corn belt is Indiana, Illinois, Iowa, Missouri, Nebraska, and Kansas. A third of Iowa's economy depends on farming. California produces the most food by value. Most of it is almonds, wine, dairy, walnuts, and pistachios. These aren't subsidized.
Portugal's economic is currently found in a bad position, one appartment in portugal is almost 190k€. We have been down for a while till we can either; a. better rule agreement, a better way to economize. My stepfather receives 4k€ every month and he is legit the director of the biggest company of components in portugal. So you can already expect what it is to live in Portugal right now. @Sh0t
Those charts above illustrate the effects of the Euro on the countries in europe that can't run a trade surplus like Germany
prior to the Euro, Portugal, Greece etc would have devalued their currency and maintained full employment at least, or close enough, and the exchange rates would have begun to tug on the economics of the surplus countries to shift business away
The US is a monetary union as well, but we are also a FISCAL union, and our system is top heavy wtih the Federal governemnt spending by far the most money, everywhere in the country
the Euro Nation /Euro Nation situation is the opposite: the individual nations do most of the taxing and spending, with a relatively thin EU bureaucracy on top, with not much fiscal action
The Euro+the government deficit rules favor the heavily capitalized countries like Germany, so it acts as a very sneaky export subsidy to Germany manufacturing
GOP quietly getting ready to shut down progressives for next go-round
Can someone explain to me what deficit is and trade deficit
@AlphaUK uh oh stinky, poop funny, poppy diaper. Stinky nappy hahahahaha poop hello funny haha poopy
Unfunny^
Ok socialist @Alexstrasza
lol what a nerd
cap good soc bad
@AlphaUK Okay, homosexual
ok bumhole licker
Bro you can't keep flexing this stuff here, nobody knows what to make of it. Don't you have a class to teach, professor? ;)
that's nothing compared to what i'm looking at on my side of the tubes
but that's a handy comparison of m1 and m2 versus the CPI, so the Schiff bots can rope
