23 March 2021

1) Some analysts expect Tesla Inc. stock to hit $3,000 by 2025, up from its current price of $655. This would make the company worth almost $3 trillion dollars. This is based on expectation of a 50% chance of Tesla achieving fully autonomous driving systems within five years. This would allow the company to scale up its planned robotaxi service quickly. Additionally, Tesla’s insurance business adds value to the company, believing the offering could be rolled out to more states in the next few years with better than average margins, thanks to highly detailed driving data the company collects. Presently, their insurance is currently available only in California. Forecasts are for Tesla’s unit sales to be between 5 million and 10 million vehicles in 2025, assuming increased capital efficiency.

2) Intel made small waves by launching an ad campaign featuring none other than the “I’m a Mac guy” himself . . . Justin Long to explain why PCs are better than Macs. Intel’s five YouTube videos have racked up over a million views, but the ad campaign extends to a website extolling the benefits of PC over Mac. In the real world, a PC with an 11th Gen Intel Core mobile processor offers users more, with real research and test results to prove it. Many Apple M1 claims don’t translate to real world usage and appear questionable. When compared to a PC with the 11th Gen Intel Core mobile processor, the M1 MacBook features just don’t stack up.

3) After years of outcry about corruption and wasteful spending, Congress banned earmarks, the legislative maneuver of having special budget items that allow members to funnel money to projects in their districts. Earmark spending went away in 2011 after corruption scandals, but now it’s back on the table. Leaders in both parties are taking steps to allow limited earmarks on spending legislation, opening the door to the sort of ‘horse trading’ that Democrats hope could lead to GOP support for Biden initiatives on issues ranging from infrastructure to the annual federal agency funding bill. Republicans are leery of what type of taxes and revenue-raising devices the Democrats are considering to finance a legislative package that could top $1 trillion dollars. With $28 trillion dollars worth of debt, and on the way to a $30 trillion debt, the Congress ought to be focused on how to save money.

4) Stock market closings for – 22 MAR 21:

Dow 32,731.20 up by 103.23
Nasdaq 13,377.54 up by 162.31
S&P 500 3,940.59 up by 27.49

10 Year Yield: down at 1.69%

Oil: up at 61.47

28 December 2020

1) Rich Americans are rushing to make large transactions before the end of the month and year, intending to get ahead of expected raising of taxes or closing of loopholes. The year-end frenzy come as a surprise to many advisers, because Republicans did better than many expected in congressional races. This suggests Biden may have a difficult time fulfilling campaign promises to raise trillions of dollars in new revenue from the wealthy. The new Biden administration could close the many loopholes that make the U.S. estate and gift tax easy to avoid.

2) The bill for the pandemic relief is 5,600 pages long containing more than one million words, which makes it slightly longer than “A Dance to the Music of Time”, Anthony Powell’s classic 12-volume work, which is considered the longest novel in the English language, taking more than 100 hours to read aloud. But while the bill doesn’t provide the relief of the first one, it will create two new Smithsonian museums and a Theodore Roosevelt Presidential Library in North Dakota. There is legislation for copyright holders to pursue increasingly frivolous claims against YouTube users. Economic sanctions and other penalties to any Chinese national who attempts to interfere in the process by which the 15th Dalai Lama is chosen. It will ban a now-defunct activist group from receiving federal funding. In short, much of the bill provides no help for Americans struggling to survive this economic calamity. Therefore, the stimulus bill is the worst of both worlds of Democrats and Republicans.

3) Communist China is adding to its military aggressiveness by developing amphibious assault ships to enhance its blue water navy and dominate the seas. The 40,000-ton assault warship is the key to Beijing’s ambition of dominating the Taiwan Strait and South China Sea, where frequent encounters with the United States Navy have occurred this year. A total of eight Type 075 amphibious assault ships have been ordered by the PLA, with the third one currently under construction and expected to be delivered in early 2021. The landing helicopter dock carries 30 attack helicopters and 900 troops. The assault ships gives China the ability to conduct vertical deployment in military operations on islands and reefs, the Chinese Communist citing self-governing Taiwan and the South China Sea as examples.

4) Stock market closings for – 24 DEC 20:

Dow 30,199.87 up by 70.04
Nasdaq 12,804.73 up by 33.62
S&P 500 3,703.06 up by 13.05

10 Year Yield: down at 0.93%

Oil: up at $48.23

AMERICANS THAT ARE WEALTHY; ARE CLOSELY MONITORING THEIR FINANCES UNDER TRUMP PRESIDENCY OR BIDEN PRESIDENCY

By: Economic & Finance Report

Wealthy Americans are monitoring their finances and tax proposals from both candidates as the 2020 presidential election gets closer.

Money managers, financial advisors and accountants across the United States spectrum, have been advising their wealthy clients about what they may expect from either a Trump reelection presidency or a Biden presidency.

Some experts have advised their clients on what they will be paying in taxes under a Biden Democratic Presidency and Congress; what to expect with the current Trump Presidency and a full Republican Congress.

Things may be mightly different in comparison, opposed to exemptions and what the rich/wealthy will have to shell out and what they will save in either presidency. -SB

PRES. CANDIDATE MICHAEL BLOOMBERG PROPOSES TAX PLAN THAT WILL TAX THE WEALTHY……

Image Credit: CNBC.com

By: Economic & Finance Report

Billionaire Democratic presidential candidate Michael Bloomberg, will be unveiling tax proposals and tax plans that will aim at wealthy Americans.

Mr. Bloomberg will be instituting a five percent surtax to incomes of five million and more, while also increasing the capital gains, and corporate gains.

Mr. Bloomberg wants to expand healthcare, public housing, education and infrastructure. The tax plans outlined by Mayor Bloomberg indicates that it could raise over $5 trillion dollars, in over a decade. Estimates have projected to go up and down depending on how reliant the calculations are.

Bloomberg’s plan would bring back the personal income tax to 39.6% (currently reduced to 37%). Capital gains on personal income over $1 million dollars would be tax, and 5% surtax on incomes over $5 million dollar, while also changing the estate tax as well. Corporate taxes will increase from 21% to 28%. -SB

8 November 2019

1) Bill Gates, the Microsoft co-founder, says he’s happy to pay his share of taxes, but expressed consternation over Elizabeth Warren’s proposals to tax America’s wealthy. He considers the presidential hopeful is not very open minded to consider his concerns. Warren’s wealth tax proposal is 2% annual levy on household wealth above $50 million dollars with an additional 1% tax on wealth above $1 billion dollars. She estimates this would cover 75,000 tax payers raising $2.6 to $2.75 trillion dollars over a ten years.

2) Stores are starting their Black Friday sales earlier this year, in part because the holiday shopping season is six days shorter. Retailer Target will begin online Black Friday sale on Thanksgiving morning, with stores opening their doors at 5 p.m. and remaining open through 1 a.m. the next day. On Black Friday, their stores open at 7 a.m.. Other retailers such as Walmart started their holiday shopping season last October.

3) Xerox is offering HP a takeover bid of $22 per share. The bid consists of 77% cash and 23% stock which would be $17 in cash and 0.137 Xerox shares for each HP share. If accepted, the deal would generate about $2 billion dollars in cost synergies with HP stock holders owning 48% of the company. HP has announced job cuts between 7,000 and 9,000 by the end of fiscal 2022. HP is worth $29 billion dollars and is more than three times the size of Xerox in terms of market cap.

4) Stock market closings for – 7 NOV 19:

Dow                 27,674.80    up    182.24
Nasdaq              8,434.52    up      23.89
S&P 500             3,085.18    up        8.40

10 Year Yield:    up   at    1.93%

Oil:    up   at    $57.07

EFR PODCAST EP. #32: TAX SZN

We’rrreeeeeeee back new episode of the EFR Podcast with your hosts Businessman Bassey (Sammy BE) @Ecofiretv, James Lyman @ObsoletePeople (finally getting a twitter handle), and on the engineering boards Jon “The Don” Sterling @TheDramaBlock.

The trio discussed the tax season in the U.S. of A, month of April, as well as topics ranging from President Donald J. Trump’s tax returns, American citizen having to pay taxes (or if you don’t want to, face the penalty & consequences), @ YOUR OWN RISK, of course.

As well as topics, such as Herman Cain & Stephen Moore possibly being nominated for the prestigious Federal Reserve Board; then both gentlemen dropping out from the nomination process; and plenty of more economic, financial and business discussion topics…..

This is a must listen to episode, for your ears…

As always #BEBless #StayBless #GODBLESS #RealRecognizeDeal

Check Out Our Online Platforms:

1) www.instagram.com/EcoFireTV (Sammy BE)
www.twitter.com/EcoFireTV

2)www.twitter.com/ObsoletePeople (James Lyman)

3) www.EconomicandFinanceReport.com (Economic & Finance Blog)

4)@Economic-FinanceReport (Podcast/Online Show)

5)www.youtube.com/channel/UCWZo5bug…Nlb2VRfDCQ/videos (EFR.Tv Youtube)

6)www.SammyBuysHomes.com (Real Estate Investment)

7) www.TraderSoul.com (Financial Trading Website)

21 February 2019

1) The Swiss bank UBS has been fined $4.2 billion dollars for money laundering. The bank had created a sophisticated system, including special computer software, that allowed the bank to counsel clients on how to avoid paying taxes.

2) Amtrack plans to expand its services, but will be stressing short runs between cities, mostly in the northeast corridor. Many fear this will mean the drastic reduction of long haul routes.

3) 20 FEB 19 Stock market closings:

Dow               25,954.44    up    63.12
Nasdaq            7,489.07    up      2.30
S&P 500           2,784.70    up      4.94

10 Year Yield:      up   at    2.65%

Oil:    down   at     $56.90

LATEST TRADE WARS: INDIA ISSUES RETALIATARY TARIFFS ON USA PRODUCTS……

*image source: Shutterstock*

By: Economic & Finance Report

India has struck back on retaliatary tariffs on USA made products. They issued a petition to the WTO (World Trade Organization) on Thursday, June 14, 2018.

The tariffs are in retaliation of products the USA placed on aluminum and steel approx. a month or so ago.

India tariffs will be placed on certain USA, fruits, vegetables, motorcycle parts and steel/aluminum products. -SB

Siren Song of “Mommy will take care of you.” : Another Resurrection of Socialism to Answer the Impact of Technology Displacement on Today’s Economy and the Millenniums

socialism-bernie-sanders-castro

By: James Lyman, BSAE, BSEE, MSSM

Economic & Finance Report

One surprise of the sixteen election has been the way the youth of America, the millenniums, are suddenly responding to Bernie Sanders advocating socialism, simply because the Occupy Wall Streeters of September 2011 didn’t. As the Occupy movement gained momentum and supporters, advocates of socialism stepped forward to promote the same tired worn out philosophy that in the western world has become a synonym for failure and non-performance. But there was little support among the students for socialism, and much to the surprise of those advocates, they quickly found themselves talking to just themselves. And then Bernie Sanders comes along, a

lifelong and dedicated socialist, who magically starts drawing student supporters to the cause like a Pied Piper, and so suddenly socialism is again considered a viable political philosophy in America.

This is despite the long and sordid history of socialism’s failures, as well as communism, in delivering on their promises. Granted, this is largely due to youth’s lack of historical perspective, of not yet having the experience of life that tells them this is a bogus philosophy. They are not aware of British socialism in the sixties and seventies, with Britain’s Great Brain Drain problem when her intellectual assets (scientists, engineers, musicians, economist, … etc. ) fled the country to avoid the high taxes and floundering British economy brought on by the political philosophy of socialism. Just one prominent failure among many failures including the Communist Soviet Union and China (Communism is just socialism under a hard repressive totalitarian power which forbids any objections or actions to undo socialism). Nevertheless, today there is the socialist Venezuela mess, which right now is imploding before the eyes of the world on TV news, not to mention the economic troubles of Greece, Italy and Spain all from their socialist programs.

It’s easy to see why millenniums are drawn to the promises of Bernie Sanders as they face more and more under and unemployment (20 to 25% for recent college graduates), as they face the

overwhelming problems of obsolescence and the coming realization that there’s no future for them in the twenty-first century. For when people are hard pressed by the realities of their environment, especially when individuals have little to no control over their lives, it’s hard not to succumb to the siren song of “Mommy will take care of you.” For that’s the foundation of socialism– that Mommy will take care of you, if you will just quietly sit down and let the government take control of your lives … that is, don’t complain or resist.

Today, a technologically advance people are displacing a lesser one, and those lesser ones are coming from the folds of the millenniums. The youth of today are being played for chumps! It’s the politicians playing on the natural desire of people to ‘vote’ themselves success and prosperity. It’s much easier and a lot more fun to march in demonstrations and do political activism than struggle through a calculus or physics course to prepare yourself to be an asset for a technologically advance society. The political debate of the sixteen election is: Businesses is doing fine, but not so for many people, things are getting better for some, while worst for many others. For people, especially the young, when they are faced with difficult problems, it’s a comforting thought that a “mommy like” figure will step in and take care of you, just as your real mommy did with all those little hurts encountered in childhood. But it’s a siren song heard many times before which has yet to pan out. Their proposed programs really just constitutes a reservation- an artificial environment for warehousing unwanted and unneeded people, in this case the millenniums who have failed to advance sufficiently to make substantive contributions to the world’s most technologically advance society. Just like the Native Americans of the nineteenth century, the government ponders just what to do with these kids, but doesn’t have any real viable ideas about what to do with them.

The only real political debate for today should be the problem of obsolete people and what to do with them, as public schools, colleges and universities continue to pump out a flood of obsolete people. Millenniums will continue to be an increasing burden for society, dragging America’s economy down, instead of being a beneficial asset to America’s economy. Until this problem is successfully addressed, all other debates are meaningless nonsense. So in our time, which history will most likely come to call the “Age of the great pretenders”, where none of those who govern us seems to have a clue what needs to be done … how will America cope with this growing mass of obsolete people?

In other words– just how do we fix this problem?

Well first and foremost, we must get a functioning government. Until you have a functioning government, you can’t do or accomplish anything! And that means getting capable people, who are less backwards and behind than those who are now charged with leading us into the twenty-first century, to be elected to government service. Only then will it be possible to reverse the economic chasm so many of the millenniums are sliding into.

And will the time ever come when the political philosophy of socialism is finally laid to rest to remain buried and forgotten so as not to give false hopes to those of desperate economic stations in life.

ALMOST HALF OF AMERICAN CITIZENS DON’T PAY FEDERAL TAXES!!!!!!!!!!!!!!!!!!!!!!!

taxes

By: Economic & Finance Report

Approx. 77 million American citizens do not pay federal taxes. This has been indicated from policy think tank, Tax Policy Center. Americans can’t pay taxes if close to the majority, does not have taxable income, or make enough income to pay federal taxes.

The bottom later of citizens who make under the threshold of disposable income, get aid and assistance from the govt, which allows them to use it for sustainable purposes. It is an interesting point to consider, when filing this tax season; that if you are not making enough, you may not be susceptible to pay federal taxes. -SB