"wealth tax will only affect 1,000 rich families"

[Packard27]

I continue to abide by the golden rule. That is, them’s who has the gold, makes the rules.

Rest assured, Silcon Valley oligarchs like Mark Zuckerberg, Jack Dorsey, Bill Gates, Jeff Bezos, Elon Musk, and Tim Cook are not multi million dollar donors to democrat causes because they have some sort of death wish for murdering their own wealth. They don’t. The same goes for Wall Street billionaires like Warren Buffett, Jamie Dimon, Charlie Munger, Larry Fink, the Walton family, and many others.

Don’t worry about billionaires having to pay too much in taxes. They and their billions of dollars in sheltered property and businesses are all going to be okay. Their hired K Street lobbyists and well paid incumbent politicians ( and their families) will always do the right thing for those who are responsible for hosting the exclusive party.

Everyone else, however, will always pay (in one way or another). They will pay in the way of increasingly inflated prices in their grocery stores, gas pumps, and showrooms. They will pay in their adjusted payouts to medicare/social security, modified services, reduced standards of living, and if necessary, through enforced government mandates and restrictions. 

So there it is. Enjoy your complementary Obama phones and free stimmy checks while you can. Eventually, the bill for the payment of services rendered along with ordinary grift at the highest levels of government comes due for the bottom 90%.

[Let’s Go Brandon!...and all those responsible for bringing about his administration.]

[sdholloway56]

And I guess that American Carnage Land happened because Those Dang Clintons took away every white guy's good job, right?

[BA Deere]

First of all, I`m not against (per se) the federal income tax in the 21st century.  i`m not enough of a keyboard economist to tell you that what funded the country in 1900 (tariffs) would be enough for the defense weapons (The Blue Age) in the present time.   What i`m saying is in 1913 the federal income tax was sold as "a tax only applying to the 1%",  well no need for illustration of the mission creep 50 and 100 years there after.   And this "wealth tax"  the bartender/congresswoman from New York sees the Woolstock, Iowa farmer with a 80 acre farm (worth $1 million) as a source of revenue to be tapped to trickle into her old Bronx neighborhood.   Maybe not instantaneously after BBB passes, but 5- 10 years from now.

Let`s look at the roads in the 1950s:  Okay, we were still finding our domestic sea legs after WWII, there were 150 million people, no Walmarts, trains hauled the majority of goods instead of 80,000lb rigs pounding the highways daily.   Today there is a need for infrastructure and annual repair, no one will argue against that and it isn`t free.

[sdholloway56]

Point being nobody with any authority is saying what you say they're saying.

It is sort of the "if they take away my machine gun they'll come for Martha Stewart's bespoke Barretta double .12." thing.

But.......I do most definitely think that the current $21M exemption for the estate tax is too high- I'd suggest about half that. 

I do think the benefit of somewhat higher marginal rates on higher personal oncomes and corporations exceeds the downside, assuming the proceeds are used to stabilize the middle class, and expand it.

[BA Deere]

Nox, numbers are arbitrary, a year ago I could buy nitrogen for 30¢ a lb, today I`m going in to prepay at $1/lb.  An estate consisting of 21 million pounds of nitrogen would be taxed, but perhaps a year from now (when lawyers get done figuring it out) it may go back to 30¢/lb only be worth $7 million.   

But this wealth tax, farm heirs may choose to not sell, to avoid the tax, well AOC will come in and assess the value every year and send the owners a 1% tax bill annually...and then it gets raised to 2%...3%   and rents go up to cover it. 

[sdholloway56]

I know you guys are terrified of those brown and black gals but love those gun-toting bat***** crazy white chicks.

Anyway. You could have asked your elected representatives to break up the fertilizer oligopolies had you chosen to but I don't recall that being a big priority.

There's about 33 therms of NG in a ton of anyhdrous, so that's about $100/ton. But the reason why fertilizer is expensive is because crop prices were high and they can charge what the market will bear- becasue it is not a free market.

Although I can understand the hesitancy to wade in against any tentacle of the corporate Ag octopus because, on the whole, farmers have been net beneficiaries.

The octopus generally likes their farm cows to be well fed so they'll give more milk. But they'd much prefer that the government* truck pull up to the feedbunk rather than having to load up theirs. So they like you guys mooin' come feeding time.

*preferable via means with more plausible deniability like biofuels, or a tax on all US companies and consumers to help pay for farm trade losses.

[cmilligan1958g]

 

[rickgthf]

It's a little off topic but a year ago March there were 771 drill rigs operating.  By Aug. 2020 it was 250,  last month it was 508 and climbing.   I suspect (but could be wrong) by spring, the price of N will be coming down, and if hasn't I'll be planting a lot more soybeans.

[sdholloway56]

Kinda what I was observing regarding the triangular corporate/government/farmer nexus.

Bet is that the corps help to keep the government keeping the farmers well fed, so they’ll be fatter to eat.

[sdholloway56]

A mild winter would be nice.

Always dumb to have the US lean into LNG so hard.

Otherwise it would be the rest of the world’s problem but not ours.