I daren't look at my stocks and shares ISA.
This disgusting legislation has now passed the Senate and will return to the House. Trump’s dream of transferring huge sums of wealth to the ultra rich while killing what remains of the US welfare state is nearly come true
It'll take a little while before people really start to notice how bad it is, and even then I think a large number of Trump fans will somehow still say its because of liberals, democrats and immigrants.How bad does it have to get before people realise/admit they made a mistake in voting for him I wonder?
So many people are going to get utterly fucked over, it's going to be awful.
Watch both sides unite to crush the concept of a 3rd party - one thing AOC and Trump would agree on.
Elon is about to OWN the libs with this CRAZY plan!! Epic, sir!!
Just as insidious is the increasing control it gives to these corporations/big businesses these ultra-rich tend to own/control. Three investment companies between them have controlling interests of over 80% of the fortune 500 companies. A lot of the rest are mainly dominated by one individual/family. These 3 companies are also the same ones buying up huge tracts of agricultural land and housing. So big they are literally unaccountable to nobody.This disgusting legislation has now passed the Senate and will return to the House. Trump’s dream of transferring huge sums of wealth to the ultra rich while killing what remains of the US welfare state is nearly come true
I’d sit back and watch the squabble if I were the democrats.Watch both sides unite to crush the concept of a 3rd party - one thing AOC and Trump would agree on.
Not sure the ordinary American will make the connection tbhIf this bill passes the house (and it will) it salts the ground for Republicans for years to come.
classy TarquinNot sure the ordinary American will make the connection tbh
A good example is that Republican governors refused Obama’s Medicaid expansion, which led to people blaming Obama instead of the governors for not getting anything.classy Tarquin
yeah but it's not anything at the same now is itA good example is that Republican governors refused Obama’s Medicaid expansion, which led to people blaming Obama instead of the governors for not getting anything.
There’s also polling to suggest a big chunk of Americans aren’t familiar with the bill, never mind how bad it is.
Not a fascist
There is a huge difference between spending on public services and a social safety net, versus a big cash giveaway to the ultra rich and big business.View attachment 44105
Musk is upset over this, USA heDing for fiscal car crash, to be honest most Western governments are on the same course but if the USA goes tits up everybody does.
There is a huge difference between spending on public services and a social safety net, versus a big cash giveaway to the ultra rich and big business.
The thing is Steve that this isn’t new, we have lessons from the past 100 or so years to see what happens when huge tax giveaways and financial deregulation are passed, likewise when more social democratic policies are passed.There is morally but not in the eyes of the bond market/lenders. What they’re interested in is whether countries can pay the money they’ve borrowed back and if they can at current value of the pound/dollar or whether that currency value will be debased/inflated away in future….in which case they will want higher returns to keep pace
The ideological left and right both seem to struggle with this concept
The right would argue that their tax cuts will generate investment and growth which would make the likelihood of repaying debt higher. GDP outpacing debt interest making it easier to service debt.
The left may argue that by providing better health services, education etc more people can work, less relying on welfare thereby boosting GDP - this is not happening currently in the U.K. which is why we’re in the shit in my view
The thing is Steve that this isn’t new, we have lessons from the past 100 or so years to see what happens when huge tax giveaways and financial deregulation are passed, likewise when more social democratic policies are passed.
This is an experiment that has been run multiple times with the same conclusion. The UK’s problem to me seems people wanting Scandinavian public services on US taxes
"He said he was literally eating his own arms. That is what he did. He called himself a cannibal and ate other people and ate himself that day."The most insane lie told about an immigrant so far
'Cannibal' Migrant On Deportation Flight "Literally Ate His Own Arms"
A "deranged" cannibal immigrant allegedly began eating his own arms during a deportation flight, Homeland Security Secretary Kristi Noem claimed on Tuesday.www.ndtv.com
The right would argue that their tax cuts will generate investment and growth which would make the likelihood of repaying debt higher. GDP outpacing debt interest making it easier to service debt.
Trump’s bill steals from the poor to give to the rich on an enormous scale. It’s both morally disgusting and fiscally disastrous.I agree with view on trumps bill and can understand why musk is fucked off
The uk is a strange one and agree, the issue we’ve got is people don’t want to pay more tax. There is also a massive reliance on hand outs though and we don’t seem to spend the money well. The numbers are frightening.
We are struggling to incorporate debt interest of £100bn+ a year into the budget. We either grow or pray that rates miraculously come down (what trumps also desperate for as well) otherwise debt is likely to spiral…..then we are likely to all see proper austerity - none of us want that
How did that work out in reality?
Tax cuts don’t generate growth, there’s zero evidence for it. Growth is an excuse made up as to why the right want tax cuts, which is all the right ever wants as their entire political ideology is “I want to keep more money and not contribute to society”
. In this country education and training are an afterthought while the health service has been allowed to lapse into a state that its founder would have been horrified to see.
After a free breakfast the first lesson of the day for schools should be a cross country run.The health service can’t continue to operate as it is. It’s a shambles and totally inefficient. We’re pouring more and more in and not getting the return
I read the other day that by 2036 the NHS is forecast to employ 1 in 11 people. How does that even work ?!!. Only way out I can see is tech, AI and possibly robots
In the meantime we as a country need to start taking some personal responsibility/ accountability for our health and wellbeing
All governments whatever their supposed political alignment are borrowing all the time feeding inflation and eroding savings faster than interest rates. Do you even understand that in the UK much of the government spending goes to private companies anyway.There is a huge difference between spending on public services and a social safety net, versus a big cash giveaway to the ultra rich and big business.
Could not agree more with this. Visiting Scandinavian countries, or increasing other countries we would have in recent history deemed 'below' us such as in Eastern Europe, is like visiting a different planet. We're getting left behind and the gap is rapidly getting bigger.The Scandinavians have been the happiest countries in the world for some time and have higher taxes, but they get very tangible things for that in return. In the UK the cost of everything seems to soar but the money just seems to disappear into a pit.
From what I've seen of chatGPT, grok etc I am not looking to have them perform medical procedures on me anytime soon!Only way out I can see is tech, AI and possibly robots
From what I've seen of chatGPT, grok etc I am not looking to have them perform medical procedures on me anytime soon!
Don’t disagree with a fair bit of that. I was trying to explain what the left and right argue and why both seem to appear to ignore the impact of bond market/cost of borrowing
Are we sure on that, feels like freedom's are slipping away fast to me,after all the markets set the contraints?Neither care and let’s be honest the bond market is completely irrational as shown yesterday. generally the big hits to govt borrowing are thing like Covid and war and stuff outside of manifestos. Outside of Greece and Argentina there’s no developed nations that have seriously had trouble with spending too much, it’s a boogeyman used to push policy that benefits certain people who invest in bonds. Who just happen to be super rich and therefore libertarian.
Neither care and let’s be honest the bond market is completely irrational as shown yesterday. generally the big hits to govt borrowing are thing like Covid and war and stuff outside of manifestos. Outside of Greece and Argentina there’s no developed nations that have seriously had trouble with spending too much, it’s a boogeyman used to push policy that benefits certain people who invest in bonds. Who just happen to be super rich and therefore libertarian.
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