Author Topic: Why is the US economy booming?  (Read 12991 times)

Scout26

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Re: Why is the US economy booming?
« Reply #50 on: September 17, 2018, 04:36:28 PM »
I already told you, my take home went down because my health insurance premium share went up. Happened right around the new tax tables were put in place.

That's not because of Trump.  IIRC, Obam was the person that f'd up health-insurance. 

Ah yes.  From the "Affordable Care Act: A Guide for Union Negotiators" dated August 2012:

Quote
The  Congressional  Budget  Office  projects  that  average  large  group  premiums  in  2016  would  be 
0 to 3 percent lower under the ACA compared to under current law, while a recent Commonwealth
Fund study estimated that private coverage premiums would be 9 percent lower in 2019 compared
to  under  current  law.  [Amy says:  Missed it by that much. [/Maxwell Smart voice]]

Over  the  longer-term,  the  ACA  could  potentially  decrease  premiums  even
more, in part due to delivery system reforms and a reduction in the cost-shift from uncompensated
care.  [Amy: Hahahahahahahahahahahahaha] While  the  average  cost  per  enrollee  may  decrease,  the  total  cost  for  some  employers  may increase  to the  degree  that  higher  take-up  rates  result  from  the  individual  mandate  and  the 
automatic enrollment requirement.

EXCISE TAX
Insurers  will  be  taxed  at  40  percent  of  the  aggregate  value  of  plans  above  a  high-cost  threshold 
beginning in 2018. In the case of self-insured plans, the tax will be paid by plan administrators. The
cost of this tax will likely be passed on to employers and enrollees through higher premiums.

The  aggregate  value  of  a  plan  includes  the  combined  worker  and  employer  contributions  to 
premiums,  in  addition  to  employer  contributions  to  a  Health  Savings  Account  (HSA),  Medical
Savings Account (MSA), or a Flexible Spending Arrangement. The value will be calculated excluding
dental and vision benefits. Employers are responsible for paying any tax on the HSA or MSA amounts
and for notifying the insurer of the full cost of coverage.
In  2018,  the  high-cost  thresholds  will  be  $10,200  for  individual  coverage  and  $27,500  for  family 
coverage.  The  thresholds  will  be  adjusted  for  firm-specific  age  and  gender  and  increased  by
$1,650/$3,450  for  retirees  aged  55  and  over  who  are  not  Medicare-eligible,  electrical  and  telecom-
munications installation/repair workers and individuals in high-risk jobs (including longshore work,
emergency response, firefighting, law enforcement, construction, mining, agriculture, forestry, and
fishing).  The  thresholds  may  be  adjusted  upwards  initially  to  the  degree  that  Federal  Employee
Health  Benefits  Program  premiums  rise  more  than  expected  between  2010  and  2018  and  will  be
indexed by inflation in 2020 and subsequent years (inflation plus 1 percent in 2019).
6.  Cost of Coverage
To  avoid  the  tax,  some  employers  and  unions  will  want  to  make  changes  to  their  plans,  such  as
changing  the  plan  type  offered  (e.g.,  PPO  to  HMO),  making  changes  to  benefits  or  cost  sharing,  or
improving provider networks by eliminating high-cost low-value providers. 


So Charby, you probably got nailed by the Obamacare Excise Tax on Cadillac Plans.
Some days even my lucky rocketship underpants won't help.


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charby

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Re: Why is the US economy booming?
« Reply #51 on: September 17, 2018, 10:17:19 PM »
That's not because of Trump.  IIRC, Obam was the person that f'd up health-insurance. 

Ah yes.  From the "Affordable Care Act: A Guide for Union Negotiators" dated August 2012:


So Charby, you probably got nailed by the Obamacare Excise Tax on Cadillac Plans.

I have the HMO family plan, the total cost is around the Cadillac plan for single.
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Scout26

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Re: Why is the US economy booming?
« Reply #52 on: September 18, 2018, 12:25:42 AM »
I have the HMO family plan, the total cost is around the Cadillac plan for single.

So the problem is that McCain *expletive deleted*ed you after Obama *expletive deleted*ed you.   Trump tried to stop you from being *expletive deleted*ed.
Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
for the motherland.

charby

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Re: Why is the US economy booming?
« Reply #53 on: September 18, 2018, 01:17:56 PM »
So the problem is that McCain *expletive deleted*ed you after Obama *expletive deleted*ed you.   Trump tried to stop you from being *expletive deleted*ed.

Like I said they are in the driver's seat to fix that problem. If it really is a problem, then they shouldn't care about elections and do the right thing.
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MechAg94

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Re: Why is the US economy booming?
« Reply #54 on: September 18, 2018, 02:44:56 PM »
Like I said they are in the driver's seat to fix that problem. If it really is a problem, then they shouldn't care about elections and do the right thing.
First, they are politicians. 
Second, there are 100 of them and you need at least 50 to vote the same way. 
Third, I think McCain voted no as much to spite Trump as anything else.  Some of those people have a very inflated view of themselves (on both sides).
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

charby

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Re: Why is the US economy booming?
« Reply #55 on: September 18, 2018, 04:11:04 PM »
First, they are politicians. 
Second, there are 100 of them and you need at least 50 to vote the same way. 
Third, I think McCain voted no as much to spite Trump as anything else.  Some of those people have a very inflated view of themselves (on both sides).

Why I always vote the incumbent out, regardless of party.
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Jim147

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Re: Why is the US economy booming?
« Reply #56 on: September 18, 2018, 05:43:51 PM »
The dems knew the problems coming as soon as it was passed and did nothing. The cons did a half ass attempt to fix it.  Follow the money.

They say the NRA has so much power but they pale to big pharmaceutical,oil, insurance and others.
Sometimes we carry more weight then we owe.
And sometimes goes on and on and on.

BAH-WEEP-GRAAAGHNAH WHEEP NI-NI BONG

MillCreek

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Re: Why is the US economy booming?
« Reply #57 on: September 18, 2018, 06:11:12 PM »
Big Pharma has the finest lobbyists money can buy, and you can see that reflected in US drug prices as opposed to the rest of the world.
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brimic

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Re: Why is the US economy booming?
« Reply #58 on: September 19, 2018, 10:14:59 AM »
Big Pharma has the finest lobbyists money can buy, and you can see that reflected in US drug prices as opposed to the rest of the world.
YES. They spend much more on marketing, patent lawyering, and buying political influence than actually developing drugs.

I worked in small pharma much of my career- reverse engineering drugs coming off patent. The big boys had more ways of screwing us than I could count.
"now you see that evil will always triumph, because good is dumb" -Dark Helmet

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brimic

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Re: Why is the US economy booming?
« Reply #59 on: September 19, 2018, 10:17:44 AM »
I suspect that public sector jobs and benefits were a lot more desirable when Obama was in office, while private sector jobs and benefits are more desirable under Trump.
"now you see that evil will always triumph, because good is dumb" -Dark Helmet

"AK47's belong in the hands of soldiers mexican drug cartels"-
Barack Obama

Ron

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Re: Why is the US economy booming?
« Reply #60 on: September 19, 2018, 11:47:29 AM »
I remember the 80’s.

This isn’t booming.

It’s not bad, but not booming.
For the invisible things of him since the creation of the world are clearly seen, being perceived through the things that are made, even his everlasting power and divinity, that they may be without excuse. Because knowing God, they didn’t glorify him as God, and didn’t give thanks, but became vain in their reasoning, and their senseless heart was darkened. Professing themselves to be wise, they became fools.

slingshot

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Re: Why is the US economy booming?
« Reply #61 on: September 19, 2018, 02:50:58 PM »
Takes a bit of time to truly say that the economy is "booming".  It sure looks like things are going right way however.  I am a little concerned that the China tariffs will slow things down a bit, but ultimately this tariff balancing needed to happen.

Obama said he laid the groundwork for the current economic climate.... he probably did in the sense of lowered expectations. :D
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MillCreek

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Re: Why is the US economy booming?
« Reply #62 on: September 19, 2018, 03:17:06 PM »
I remember the 80’s.

This isn’t booming.

It’s not bad, but not booming.

I remember the early 80's, and the economy in the toilet just as I was graduating from undergrad and grad school. Worst recession up until 2008.  I was reminded of that today when I read an article in today's Wall Street Journal and the American Dream: wages in real dollars have remained flat for years, and increasing household income is a function of more hours worked and more people in the household working, rather than wages increasing.  Only 33% of Americans think their children will be better off than they are.  My wife and I have four adult children between us (ages 27 to 34), and none of them are at the same level economically as we were at that age.
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Quote from: Angel Eyes on August 09, 2018, 01:56:15 AM
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MechAg94

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Re: Why is the US economy booming?
« Reply #63 on: September 19, 2018, 04:26:41 PM »
Takes a bit of time to truly say that the economy is "booming".  It sure looks like things are going right way however.  I am a little concerned that the China tariffs will slow things down a bit, but ultimately this tariff balancing needed to happen.

Obama said he laid the groundwork for the current economic climate.... he probably did in the sense of lowered expectations. :D
They always talked about malaise when referring to the Carter years.  I think that applies to the Obama years to some extent.  He may have helped Trump by putting BigGov brakes on the economy but doing it mostly through executive actions and regulations that Trump could remove without passing legislation. 
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

Ron

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Re: Why is the US economy booming?
« Reply #64 on: September 20, 2018, 08:17:12 AM »
I remember the early 80's, and the economy in the toilet just as I was graduating from undergrad and grad school. Worst recession up until 2008.  I was reminded of that today when I read an article in today's Wall Street Journal and the American Dream: wages in real dollars have remained flat for years, and increasing household income is a function of more hours worked and more people in the household working, rather than wages increasing.  Only 33% of Americans think their children will be better off than they are.  My wife and I have four adult children between us (ages 27 to 34), and none of them are at the same level economically as we were at that age.

Just outside of Chicago the amount of construction and suburban sprawl that took place from the 80’s into the 90’s was amazing. Actually the same could be said about Chicago itself, it went from being shabby to world class during that era.

I’m just not seeing that level of on the ground economic activity.
For the invisible things of him since the creation of the world are clearly seen, being perceived through the things that are made, even his everlasting power and divinity, that they may be without excuse. Because knowing God, they didn’t glorify him as God, and didn’t give thanks, but became vain in their reasoning, and their senseless heart was darkened. Professing themselves to be wise, they became fools.

brimic

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Re: Why is the US economy booming?
« Reply #65 on: September 20, 2018, 09:03:57 AM »
Just outside of Chicago the amount of construction and suburban sprawl that took place from the 80’s into the 90’s was amazing. Actually the same could be said about Chicago itself, it went from being shabby to world class during that era.

I’m just not seeing that level of on the ground economic activity.

Its happening across the border to the North.
Foxconn, plus now there's talk of high rises going up South of Milwaukee and potentially down the lakeshore to support the large number of workers that are going to be involved.
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MechAg94

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Re: Why is the US economy booming?
« Reply #66 on: September 20, 2018, 10:40:02 AM »
I have my doubts that the high tax, high regulation states are going to see as much of the new construction and growth.  Texas took advantage of that during the Obama years and I can't see that stopping.  We are seeing real estate and home prices rise the last 10 or 15 years due to the number of people who have moved in.  I will be curious to see what the next Census shows.
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Perd Hapley

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Re: Why is the US economy booming?
« Reply #67 on: September 20, 2018, 04:36:06 PM »
I think Missouri will miss out on some of the Trump boom as well, because the state GOP can't seem to sell Right-To-Work. We have an overwhelmingly Republican statehouse, and a Republican Governor, but the masses keep voting it down.
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brimic

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Re: Why is the US economy booming?
« Reply #68 on: September 20, 2018, 07:19:57 PM »
I have my doubts that the high tax, high regulation states are going to see as much of the new construction and growth.  Texas took advantage of that during the Obama years and I can't see that stopping.  We are seeing real estate and home prices rise the last 10 or 15 years due to the number of people who have moved in.  I will be curious to see what the next Census shows.
That.
WI is only booming because we have had  a great governor and R majorities in legislature since 2010 or so.
Unfortunately, the way it’s looking now, the next governor is likely to be a do-nothing bureaucrat who has been a life long teachers union bootlicker. I’m preparing for the bad old days to come back.
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Strings

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Re: Why is the US economy booming?
« Reply #69 on: September 21, 2018, 05:24:57 PM »
Quote
a do-nothing bureaucrat who has been a life long teachers union bootlicker

Wisconsin: a wholly owned subsidiary of WEAC
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Screw it: just autoclave the planet (thanks Birdman)

brimic

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Re: Why is the US economy booming?
« Reply #70 on: September 21, 2018, 05:42:57 PM »
Wisconsin: a wholly owned subsidiary of WEAC

It once was, and probably will be again   :'(
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charby

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Re: Why is the US economy booming?
« Reply #71 on: October 11, 2018, 01:30:42 AM »
Eat a bag of male genitalia, I now have less money than I started the year out with.
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Ron

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Re: Why is the US economy booming?
« Reply #72 on: October 11, 2018, 08:20:48 AM »
Eat a bag of male genitalia, I now have less money than I started the year out with.

Is your employer the government?
For the invisible things of him since the creation of the world are clearly seen, being perceived through the things that are made, even his everlasting power and divinity, that they may be without excuse. Because knowing God, they didn’t glorify him as God, and didn’t give thanks, but became vain in their reasoning, and their senseless heart was darkened. Professing themselves to be wise, they became fools.

MillCreek

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Re: Why is the US economy booming?
« Reply #73 on: October 11, 2018, 08:30:47 AM »
Ooh, the 403(b) lost $ 15K yesterday.
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Quote from: Angel Eyes on August 09, 2018, 01:56:15 AM
You are one lousy risk manager.

Ben

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Re: Why is the US economy booming?
« Reply #74 on: October 11, 2018, 09:04:09 AM »
I'm not worrying until the Dow drops below 20K. A year ago it was 22K. Year to date, we're still up.

One interesting point. Trump is a little wacko today. He's attacking the Fed on the interest rise, and I think that couldn't have come soon enough. It should have slowly been happening over the last five years at least, to slowly move us out of Obama's crazy time. An artificial 2% home loan is nearly as crazy as the 16% I paid on my first Mortgage.

Mortgage loans in the 5-7% range would be normal and healthy, because that also lets people (retirees, etc.) afraid of the equities market to make something more than 0.05% in a savings account, and/or make something reasonable on a T-bill or CD. It might help stabilize crazy home prices as well.
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