Posts Tagged ‘Business Owners’

Dear Evil Speculators,

Dear Evil Speculators,

Courtesy of Joshua M Brown, The Reformed Broker 

Dear Evil Speculators,

As part of our ongoing program designed to render the US stock market completely dysfunctional, we have added an additional tax to be applied toward your investment income as part of the wildly popular Health Care Bill that we recently finagled through into law:

* Individuals earning more than $200,000 a year, or couples earning $250,000 or more, would be hit with a 3.8% surcharge on investment income to help pay for the bill.

You see, we are fully aware that in just the past decade, you have been slammed twice – 2000-2002 and 2007-2009 – with two of the most brutal bear markets in history – but we just don’t care.  We are also well apprised of the latest retirement surveys – the ones that project that the average retirement account needs to generate 20% gains each year for the next 10 years just to catch up.

These concerns do not afflict us for two reasons:

Number one, as soon-to-be-former legislators, 6 and 7 figure jobs at law firms and corporations will be forthcoming for all of us, pretty much no matter what.

Number two, rather than have Americans foot the bill for their own retirement, we figure in about 6 years or so we’ll just ram a new Bill down your throats expanding Social Security and mandating employer-paid pensions for all retirees.  Since all business owners large and small are by definition ‘Fat Cats’, what could possibly be the harm in that?

Do not think that we are unappreciative of the fact that without individual investors’ participation in markets, liquidity would slow to a trickle and the risk-taking, enterprising apparatus that built this nation would cease to be.  On the contrary, we are so appreciative of investors’ market activities that we seek to grab an even larger piece of the action in the form of this and other levies to be decided in a series of closed-door meetings at our whim and leisure.

So please, as you grumble about the latest 3.8% tax-on-success that we’ll be applying to your portfolio each year, consider that it’s all for a good cause:  Rahm will now be nicer to us.

Yours Presumptuously,

The House of Representatives

Fantasyland USA 20002 


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Oregon’s Death Spiral; Business Owners Say “I’m moving out

Oregon’s Death Spiral; Business Owners Say "I’m moving out"

Courtesy of Mish

On Tuesday, unions in Oregon won a charred earth victory that will drive already troubled Oregon, straight off the cliff.

Oregon voters passed Measure 66 which raises tax rates on individuals who earn more than $125,000 and couples with incomes greater than $250,000. Voters also passed Measure 67 which increases business taxes.

Please consider Oregon voters pass both tax measures.

Oregon voters on Tuesday approved tax hikes on businesses and the wealthy, allowing legislators to avert budget cuts they said would have affected schools and services for the poor and elderly.

The most recent reports had labor outspending business in one of the state’s most expensive issue campaigns. Common Cause of Oregon said Guiney’s group raised $6.85 million to the $4.55 million raised by Oregonians Against Job-Killing Taxes.

"The bottom line is the unions bought the election," said State Republican Chairman Bob Tiernan. "It’s going to be a sadder day as more businesses leave the state and more don’t want to come here."

Passage of the measures spares the Legislature a month of budget-cutting when it starts a four-week session Monday.

"I’m moving out"

Please consider an email from one business owner in response. "C.S." Writes ….

Mish:

Don’t know if you noticed but Oregon narrowly passed another tax increase today. As a business owner for 25 years in Oregon, I’m moving out, going to Washington. Many other business owners I talk to are saying the same thing. They are all getting out. One of them refused to renew his commercial lease until seeing the results of 66/67 tax measures. He’ll be moving out also.

Tektronix last year decided to get out as well, and they are moving 80% of what is left to Shanghi China. Many other companies have also left in the last couple years. Oregon will now be tied with Hawaii at 11% income tax, the highest in the US.

Moreover, they have added a tax now on gross revenue. It doesn’t make any difference if you are losing money and trying to survive. They want to skim the top. Wasn’t this the technique used by the Mafia?

If that’s not bad enough already, the City of Portland is talking about massive tax increases. If you’re a business in the city limits, the tax/business license fee has


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ValueWalk

IRS to correct missing/wrong coronavirus stimulus checks errors

By Aman Jain. Originally published at ValueWalk.

There were several issues with the first round of stimulus checks. Many, who were eligible didn’t get the stimulus checks, while some got less than what they were eligible for. The IRS, previously, said it wouldn’t adjust such coronavirus stimulus checks errors until next year. Now we know that the agency could address some missing and wrong coronavirus stimulus checks this year.

Q2 2020 hedge fund letters, conferences and more

IRS to adjust missing/wrong coronavirus stimulus checks

Initially, the IRS noted that Americans who got stimulus checks of...



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Phil's Favorites

Fed Chair Powell Had 4 Private Phone Calls with BlackRock's CEO Since March as BlackRock Manages Upwards of $25 Million of Powell's Personal Money and Lands 3 No-Bid Deals with the Fed

Courtesy of Pam Martens

Fed Chair Jerome Powell (left); BlackRock CEO Larry Fink (right)

Earlier this year, Wall Street On Parade reported that the Chairman of the Federal Reserve, Jerome Powell, had an upward range of $11.6 million invested with the investment management firm, BlackRock, and its iShares Exchange Traded Funds, according to Powell’s 2019 financial disclosure form.

Pow...



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Zero Hedge

Futures Slide After Trump Opens A "Most Unwelcome Can Of Worms" With TikTok, WeChat Executive Order

Courtesy of ZeroHedge View original post here.

World stocks ended a four day rally overnight that pushed the MSCI World index to green for the year, after U.S. President Trump cranked up simmering tensions with China after late on Thursday has signed orders to ban Americans from transactions involving China’s ByteDance (TikTok’s parent) and WeChat (owned by Tencent), taking effect in 45 days. Furthermore, Trump’s Working Group on Financial Markets recommended that Chinese companies currently listed on US exchanges should be delisted if they do not become compliant w...



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The Technical Traders

Everything You Need to Know About Silver... and More

Courtesy of Technical Traders

Listen to Chris talk with Jim about Silver on Silver Radio. Chris and Jim explore the effect on Silver prices if a Black Swan event occurs, potential bullion shortage. They also talk about silver shorts and the ‘natural’ price of silver but-for market manipulation. We still think Silver will be the Super Hero of metals! Listen up as all of your questions about silver are answered here.

...

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Kimble Charting Solutions

Silver Headed Back To $50, Top Of The Cup & Handle Pattern?

Courtesy of Chris Kimble

Could Silver be creating a multi-decade bullish “Cup & Handle” pattern? Possible!

Did a retest of a handle breakout take place in March at (1), where Silver created one of the largest bullish reversals in decades? Possible!

Could Silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40-years and I haven’t seen anything like this.

Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, Silver ...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 29 March 2020, 07:00:37 PM

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Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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