No worries. This is all quite fascinating, and I love learning something new about the mechanics of the markets. I find a bit of irony in the name Robinhood since that name implies taking from the wealthy and giving to the less well off. And this week, they effectively were doing the opposite.

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Hawaii (fuck) You

Imo she is the most odious piece of crap on that entire network

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

I don't see it as an excuse. You think it's fair for somebody that owns their own business and say 2M in assets and draws a salary of a few hundred thousand a year will be taxed at a rate that a 2.2M would? If you want to "tax fairly" or try something else I'm open to that idea but don't screw with small business owners.

How much should people pay in taxes? What exactly do you think is fair and why?

Spaulding

I’m not trying to be mean or anything like that.

The people I’m talking about are so far removed from even the concept of small business owners.

BILLIONAIRES are completely different than MILLIONAIRES.

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Just listened to Dominick Tavella explain that the "little guys" don't understand what they're doing and that they are "playing the same game as the big guys."

He then literally said there needs to be regulation to "protect them from themselves."

So, basically, he just said that only wealthy hedge funds should be able to do what these guys are doing, and we need the regulators to step in and make that so.

Just fascinating how highly these investors think of themselves and how little they think of the people buying Gamestop.

The hedge funds should also be worried that another truth could be revealed - their investing "expertise" is no more impressive than a lot of the people on WSB. The difference is that hedge funds have the economies of scale and insider information to make it look like they are smarter than the average investor.

Give us 100 million dollars, insider trading info, and classmates and friends who "work for" the SEC, and I bet we could turn a pretty profit too!

I am not sure how familiar you are with corporate tax laws. Small business owners use an S Corp structure for their businesses. They do not pay corporate level taxes unlike for their C Corp (mainly large and public) brethren. The profits of their business flow through to their individual return. So if a business makes $200,000 it is taxed like a person with $200,000 in wages.

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Hawaii (fuck) You

I hope you're not basing your conclusion on the clip above.

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In the clip above, Warren is advocating a wealth tax on the wealthiest .1% of the population; she is not endorsing a transaction tax. Her proposed policy would have a downward redistributive effect and would in no way act as barrier to entering the market for retail investors. Based on polling I have seen in the past, this position is enormously popular among Americans.

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Right but wouldn't the wealth tax change that? I'm somewhat familiar with business structures. It's basic and I don't know details. I think she was talking about including assets a few years ago. Which changes things quite a bit.

Or would the wealth tax cause some to be double taxed? People pay real estate taxes but the property or structure is an asset and would that be included 2x? There is a structure that allows a corp to be double taxed but I can't remember which one.



Yes, no , maybe. I don't know the threshold for 1% but when you start including assets it's a different discussion with different people. When you are talking about % and including assets these are some of the people that will probably be lumped in. I'm asking will there be exemptions or some other protections for these people?

It's real easy to say tax the rich or something something 1% or 5%. It's also real easy for those people to move, protect their money, or close up shop. They will have enough no matter what. Then what? I also think it discourages innovation and entrepreneurship but that is a slightly different discussion. Most people that are billionaires don't necessarily start that way and I'd hate to see small business hamstrung.

A wealth tax is a great idea. Let’s give the government even more money to waste!

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Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul

Hard to argue with that statement.

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Discussion of taxes is a distraction. They will always find a way around them.

If we want to end corporate welfare and the upward redistribution of wealth, we should eliminate the Federal Reserve and demand no more "stimulus" unless it is direct payments.

When the government "spends money," it hurts regular people. It drives up real inflation and crushes working class people. That money is then "injected" into the economy to artificially inflate markets. This disproportionately benefits the already wealthy. But they are able to justify it as "stimulus."

Even the individual checks passed out are a problem. Home prices are becoming so high that people can no longer afford to buy. The interest rates, which we have forced ourselves to keep artificially low, screw people who save money and benefit those who borrow money. We are encouraging people to spend money they don't have during a time when resources are scarce to begin with.

The motives of all lawmakers and bureaucrats are on full display when they are negotiating stimulus checks. If they really wanted to help the working class through stimulus, they should give a lump sum directly into the banking account of every individual or family, and that should be 100% of the stimulus. It would increase inflation, but at least it would be distributed evenly to all people.

Any penny beyond a direct payment is not "stimulus" - it is redistribution. And the redistribution goes disproportionately to guess who? The special interests, people who own equities, foreign countries, etc etc etc. Definitely not poor people.

The Federal Reserve, at the direction of our politicians,, continues to enforce this upward distribution every single day with cash injections and the purchasing of financial products to artificially drive up prices.

Nothing in the government ever has a downward distribution. They'll certainly tell you it does, though!

That's a fair point given the current state of our government. I definitely support larger direct payments to individuals.

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Google seems to be helping Robinhood out. Deleted 100k negative reviews of their app.
Thats nice.

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This signature space is available for inappropriate, suggestive, and lewd ideas.

Much better to do nothing!

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Then give the government more money? Yeah, it is.

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Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul

Not really.

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Warren's plan would cover the top .1%, not the top 1%.

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they are now talking an investigation of WSB and rolling the market back about 2 weeks

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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

There will be literal riots if they do that

I think we call them ‘insurrections’ these days.

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Lol a "do over"? I don't think so.

Also pretty funny that GME mania triggers a 700 plummet of the DJA, but a riot at the US Capitol barely registered.

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Exactly...impossible and would violate every part of contract law among other things.

Offer to sell. Accept to buy....yada yada

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Hawaii (fuck) You

Real life, 2021:





The Onion, 2008:

I don't know how it would work...I'd rather see a system that had companies or people that were highly profitable have to reinvest in the company somehow to create more jobs or maybe pay a larger % to existing employees but even that squeezes smaller businesses in ways.

I agree with FF even if he was being sarcastic, I'd prefer not to give them more money to waste. Government isn't the answer. I think there is an immorality to heavy taxes...but there is something wrong with the vast inequity we are seeing. I don't know how to go about fixing that, but I don't think taxes is a solution. "They" will find ways around it and we will get screwed anyway.

Just tax GME gains at 100 percent.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

You’re probably right. Those drones aren’t gonna pay for themselves

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Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul

Can we at least get the government to stop stealing from the poor to give to the rich before we ask them to do more?

Here is what I believe. If I go to a gas station and give the guy $40 for pump five, and go out there and I pump $35 and the pump stops and then he tells me some bullshit, I know I have been ripped off. I also know I am not going back there.