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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

  1. TigerVols

    TigerVols Well-Known Member

    ...it's in my kitchen, and yours, and everywhere around us.

    I thought maybe we could try a running thread to discuss the CNBC and FBN side of our lives?

    For starters, I'll posit that the downturn is here to stay and it's useless to try and turn it around by sending more money no-strings-attached to small (or mid-sized or large) businesses. Instead, we may just need to take our medicine.

    What say you? What is your assessment of our collective financial futures?
     
    wicked likes this.
  2. TheSportsPredictor

    TheSportsPredictor Well-Known Member

  3. HappyCurmudgeon

    HappyCurmudgeon Well-Known Member

    Have a feeling this one might last for a year or two.
     
  4. Spartan Squad

    Spartan Squad Well-Known Member

  5. Starman

    Starman Well-Known Member

    1929 didn't really end until the late 40s, and it took a world war to really fire up the economy.
     
  6. Deskgrunt50

    Deskgrunt50 Well-Known Member

    It figures to be a pretty long haul. I'd guess "normal life" won't be back for awhile. The bar/restaurant biz, especially in cities, is going to take a long time to rebound. The travel/tourist industry is going to be in the toilet years.

    Hopefully it bounces back more quickly than I think. Some jobs will never come back, hopefully new ones we haven't considered will emerge.

    I'm grateful to still be working right now. But my job will likely end up going away because of this. To be fair, it's been in danger for awhile, but this certainly figures to accelerate it ending. Like millions of others, I'll have to reinvent myself to get something in what will probably be a tough job market for a long time.

    *All of this with the caveat of being different with a vaccine or great treatment plan arriving quickly.
     
  7. Slacker

    Slacker Well-Known Member

    Tax the rich back to the '50s. They've had their fun.
     
    Driftwood, Tweener and Inky_Wretch like this.
  8. BTExpress

    BTExpress Well-Known Member

    They had high marginal rates.

    They also could deduct every penny of interest they spent. On everything. There were deductions and ways to avoid taxes out the wazoo back then.

    What they actually paid the government in federal income taxes? Eh, about the same. 16.7 percent, compared to 14-15 percent today.
     
  9. goalmouth

    goalmouth Well-Known Member

    US business couldn't even survive a month of lockdown. What does that tell you about the economy?
     
    Inky_Wretch likes this.
  10. LanceyHoward

    LanceyHoward Well-Known Member

    There are deductions out the wazoo now and also low rates. What is the source that the paid 17%. That number can be generated today from the IRS data base. I have always wondered how someone came up with that number from the 50's.
     
  11. LanceyHoward

    LanceyHoward Well-Known Member

    The elephant in the room is how many additional deaths the country would accept to open up the economy again. While states are opening up would they stay the course if they turned into another New York?
     
  12. BTExpress

    BTExpress Well-Known Member

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