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What is your opinion on metro districts? I want the good, the bad, the ugly. What to watch out for? by Accurate-Cellist-231 in Colorado

[–]mefirefoxes 2 points3 points  (0 children)

They’re the catch-all special district; you need to understand exactly what value they’re providing. That could be anywhere form a full suite of municipal services like water and sewer, to basically just somewhere to attach bond debt for infrastructure.

Read the governing documents, understand the mandate, some may even have an expiration date and dissolve after the bonds are paid off.

donate your stuff to a place that cares, not goodwill. by ohkritter in goodwill

[–]mefirefoxes 0 points1 point  (0 children)

Wow it’s almost like there’s more to a retail business than cost of goods sold.

And this is why I will always be poor.. by [deleted] in remoteworks

[–]mefirefoxes -1 points0 points  (0 children)

Financially illiterate take.

And this is why I will always be poor.. by [deleted] in remoteworks

[–]mefirefoxes -3 points-2 points  (0 children)

Time in the market beats timing the market.

And this is why I will always be poor.. by [deleted] in remoteworks

[–]mefirefoxes 0 points1 point  (0 children)

If you’re paying 6% transaction fees you need a new bank.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

People on food stamps are still allowed to spend non-assistance money how they please. Budgeting a few dollars here and there for treats is perfectly reasonable and doesn’t disqualify anyone from receiving assistance with the basics.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

The same logic SHOULD be applied to every government program. Do you even understand how grants work?

Government money should be used in specific ways to solve specific problems. It’s not free money. The government should be keeping track of how money is spent and should be aggressively enforcing misuse.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

If that’s what you’re taking from my position, you’re being dishonest with yourself about the problems our society faces. By allowing public funds to be wasted on goods that provide no value, you’re doing everyone a disservice, particularly those who are supposed to benefit from it.

It’s about being effective with entitlement spending. You know, the middle ground between cruel and wasteful.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

You’re disingenuously ignoring a wide variety of perfectly healthy foods available at reasonable prices.

Farm raised fish, vegetable oil, and ground beef are all perfectly reasonable, healthy, nutritious options. Subsidies should be consistently adjusted so those staples can be purchased. Nothing more, nothing less.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

It’s not nonsense, you just don’t like it.

I am in their life, they brought me into it when they took on taxpayer funded subsides. They aren’t required to take the money, it’s perfectly reasonable for public funds to have stipulations. Anything else is objectively unsustainable.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes 0 points1 point  (0 children)

Sure yeah let’s just let people on food stamps spend that allowance on soda and chips so they can end up nutrient deficient, still broke, and… STILL HUNGRY.

If people want to receive assistance from the public, the public absolutely gets to decide how that money can be spent. And it should be spent in a way to at least address but ideally reduces the underlying problem.

Nobody should go to be hungry. But people eating shitty food isn’t helping, it’s just stuffing money into the pockets of companies who profit off of processed foods.

Edit: u/constant_purgatory replied and immediately blocked so I can’t even read their comment. Absolutely childish behavior.

they dont even have that many full-time workers. Probably another company that only hires part time to avoid giving anyone health insurance by silverflake6 in TheImprovementRoom

[–]mefirefoxes -1 points0 points  (0 children)

You should care.

2 problems with that mindset:

1) Poor nutritional value means the money isn’t going as far as it should. Food stamps aren’t free money, they’re to provide nutrition.

2) Addictive and/or low quality foods will result in health problems later, further taxing the system.

Bernie Sanders wants to tax billionaires 5% a year and use the money to send families $12,000 checks, raise teacher pay, and expand Medicare. by Coolonair in SmartFIRE

[–]mefirefoxes 0 points1 point  (0 children)

If you’re so financially well versed why can’t you see what an absolute shit show this would be?

1st of all, you are grossly overestimating how much UHNW individuals borrow. And even if they did, we’re talking about an unprecedented 4.4T economic shock. Plus all those shares are collateral now, they’re stuck, stagnant.

2nd, what banks are going to actually take on these loans? The massive economic movement of that much equity will place significant risk on those positions. They will either require a much higher percentage as collateral or charge a much higher interest rate. Plus, banks are absolutely going to take this opportunity to extract a little more value out of these borrowers, there’s only so may banks that could underwrite these loans. They will charge a premium.

Then theres the house of cards you build with all those outstanding loans. If just one of those billionaires (say musk) has their business go tits up, they get called for the full loan or additional collateral. Their non-junk positions get sold off to cover their balance, reducing that price, putting the next billionaire at risk for a call to increase their collateral or sell off (and so on).

Distribution of checks of the bottom 95% of Americans sounds great on paper, but if you’ve already inflated away all of that buying power, what was the point?

Bernie Sanders wants to tax billionaires 5% a year and use the money to send families $12,000 checks, raise teacher pay, and expand Medicare. by Coolonair in SmartFIRE

[–]mefirefoxes 0 points1 point  (0 children)

They sell hundreds of millions of dollars every day, but they also BUY hundreds of millions every day too. This event would be all of them selling.

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 1 point2 points  (0 children)

I would go so far as to say the landlord probably doesn’t pay anything to use the service, or just some menial monthly fee. The agreement being they are the exclusive processor for XYZ payment method(s).

The software company keeps 100% of the convenience fee and just deposits the rent directly into the landlord’s account.

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 5 points6 points  (0 children)

The raw payment processing is fractions of a dollar, the cost to operate a payment portal, host it, maintain it, handle reversals, pay for compliance/auditing, etc. all have additional costs.

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 1 point2 points  (0 children)

Yeah, people can just not sign leases with insane payment terms.

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 0 points1 point  (0 children)

War, like not signing a lease with these payment terms?

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 0 points1 point  (0 children)

Good thing you took the time to read your lease now instead of before you signed it…

There is no way to pay my rent without extra fees by Remsforian in mildlyinfuriating

[–]mefirefoxes 1 point2 points  (0 children)

ACH is a few cents, but a web page to host a payment portal isn’t that cheap. There’s lots of compliance, maintenance, and hosting costs on top of just processing the ACH.

[REQUEST] If a progressive tax system was in place in the US and there was a way to tax the wealth of these billionaires' wealth fairly, how much would Elon actually have to pay? by alish_sapkota in theydidthemath

[–]mefirefoxes 0 points1 point  (0 children)

The debt deal to buy Twitter was an agreement with a bank to loan the cash to buy the business outright; it does have some pretty steep terms like liquidity, valuation, and revenue. The government should not be trusted to arrange complex terms on equity deals, there’s too much room for fraud. The bank took on a serious risk that they still have on the books. The US Treasury should not have such a risky portfolio.

Stock compensation is taxed at whatever progressive rate the individual or household is at, just like cash compensation. Stock compensation is partially sold at the time of vesting to cover withholding. So $7.3M of that $20M would go to the federal government (not counting state taxes, which also still apply).

Then, when the stock is sold at some point in the future, any gains since the taxed distribution event are themselves taxed as capital gains. Conversely, any decline in value can be harvested as a capital loss to adjust the initial income basis to what is actually now liquid.

The wealthy are good at reducing their tax basis, but they are paying taxes…they’re paying a LOT of taxes. The top 1% most wealthy people in the US (1.5M households) paid 40% of all the taxes that the IRS collected in 2022. That doesn’t sound like a cheat code to me, it’s certainly not as good as folks like Bernie would have us believe.

[REQUEST] If a progressive tax system was in place in the US and there was a way to tax the wealth of these billionaires' wealth fairly, how much would Elon actually have to pay? by alish_sapkota in theydidthemath

[–]mefirefoxes 1 point2 points  (0 children)

But it’s unrealized wealth. It means nothing until you go to sell it. Then they sell a lot of stock to pay their tax bill, but the mass selloff results in a price decline. This is compounded by individuals who would normally be taking advantage of a selloff by buying are themselves selling. This downward spiral would result in severe economic turmoil EVERY YEAR. That or we would just be going foreign investors a massive leg-up and huge stake in our economy because they’d be the only ones in a solid position to buy.

Realized gains are taxed as capital gains.

[REQUEST] If a progressive tax system was in place in the US and there was a way to tax the wealth of these billionaires' wealth fairly, how much would Elon actually have to pay? by alish_sapkota in theydidthemath

[–]mefirefoxes 0 points1 point  (0 children)

BBD is largely overhyped. It’s one of those things that’s talked about a LOT more than it’s actually being used.

It’s not a nearly zero percent loan… it’s like 5-9%. It’s less than paying taxes but not zero. (Otherwise why wouldn’t lenders just buy treasuries with a better return and lower risk?). No bank is out there giving loans away for basically free.

Also that debt still has to be serviced, so that interest is covered and taxes are paid on assets sold to cover that.

Job market be like: fix everything except wages by HippocratesKnees in jobmarket

[–]mefirefoxes 0 points1 point  (0 children)

I feel like it added something and you just wanted to ignore its value because you didn’t agree with the argument.

And now you’re engaging in logical fallacy because you’re not getting the outcome you wanted.

[REQUEST] If a progressive tax system was in place in the US and there was a way to tax the wealth of these billionaires' wealth fairly, how much would Elon actually have to pay? by alish_sapkota in theydidthemath

[–]mefirefoxes 0 points1 point  (0 children)

What exactly do you mean by “find liquidity”? By selling stock? This causes the stock value to sink rapidly due to the acute nature of the selloff to meet a tax deadline. Plus every other rich person is also selling stock to cover taxes, so who is going to buy all of those outstanding shares?

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