Well MAGA ...
NOT .... Fed muzzled ... USA democracy is purchased and debt ceiling a joke, a record deficit in the best economy EVER ?
Really ?..
France went get stuffed Facebook paying a mere 1% tax rate when its margin is 45% on sales ... Trump responds like a Facebook exec and now threatening tariffs and on wine ? because a nation wants to charge tax on profits generated on its soil ?
Free markets .. let alone economies .,.. are to be dictated by USA corporate greed ?
Australian TAX looses 30 billion EACH year in unpaid tax. Some ,,., Like FB ,,, book sales overseas and do not even pay GST ....
I kid you not the ATO publishes the turnover, profit declared and TAX paid.
Facebook claims it paid 1 billion of tax overseas in profits in 2018. Well we got 15 mill and between EU biggest nations making up over 50% of this overseas income I come up with less than 100 mio USD paid, NONE to some Eu nations !!
Globally the world is in serious TROUBLE. Massive fiscal trouble when we are being dictated to by AMAZON and FB and a group of corporate crooks who in Amazons case in 25 years HAS NEVER ... EVER paid any tax on profits, claimed deductions of 10 million on low price issued options to executives, never paid NEVER paid a dividend and in the USA is 19% of the retail market and NEVER paid a fine for some of the stunts its pulled on sellers on Amazon who if they sell a lot, Amazon magically has a similar product appear and your viable business ... goes down the drain and now only appears on page 3 of any search.
Meanwhile, USA hit lowest birth rate, GDP numbers all revised down and even then they are meaningless totally ... as the lower 50% now have negative net worth and the lower 80% even the upper middle class ... thats the 60% to 80% wealth bracket share a mere 7% of overall wealth.
But what drives markets, for now, interest rates, mean it in the USA likely goes now ... we have passed that first milestone of 3,000 on the S+P 500 to likely 3,165.
Outside this, USA could lower rates to MINUS 3% and it still would not improve the lower 80% real economy. This move has nothing to do with anything other than the top 1% ...
As for nations now shedding 1-2% in GDP in not collected tax .... Like France .... Like Australia ... we slowly get strangled. Our nations and NOT bein g hite AMERICANS in the top 1% we are ... well irrelevant and if we complain as France did and imposed a tax to try and collect some value out of the likes of Google and Facebook and Microsoft has not actually gone far enough. When you need 25% PAID on company tax profits and your getting 1% on turnover so about 10% of what you should .... they are stuffed and they must collect more tax there and in fact tighten to compensate.
Eventually, someone will blink.
.
Will it be prior to Trump bombing Iraq ? Or as he mentioned stopping Afghanistan via nuclear weapons or maybe North Korea ? Or Venezuela ? Then of course 2020 and he is unlikely to be re=elected despite FOX news efforts, ... will he actually give up office even if beaten ?
He just gave yet another speech where he claimed fake immigrant voters rigged the 2016 elections and despite investigations in 40 states NONE of this was seen .... NONE of it..
As to telling France what can do, its same for Mexico and Canada and China and Germany and UK and Australia and so on.
Meanwhile USA came 11th out of 11 lowest of OECD nations in healthcare the bug developed ones, came 37th on World Health ranks and likely about 100 if they used the real numbers. As always a cost of the the wealth flowing to the top, the numbers on Medicaid and emergency healthcare in the USA at records up from 20 million to now 80 million. That is a 15 year old with a box of aspirin for your cancer. Its rated at 30% of even the not so good UK NHS health service ....
Bliss .... then again media has every second add in the USA either a defence contractor or healthcare company don t expect any media on it.
Our market, ASX 200 via rate cuts only going one way. UP .... like the USA for now. Sadly USA eventually the debt size and fact their population is NOW not growing with NET negative illigal immigration and ultra low legal immigration and record low interest rates, coupled with rising over 65's retiring ... who is going to pay for the 25 trillion or over 200,000 USD per person debt the Federal govt holds when the lower 80% average income is a mere $32,000- a year ?
Nothing new in this other than the release valve is HUMANS and the fact that 80% of people end up on emergency Free Medicaid in old age, all assets gone, BROKE .... has impacts on life expectancy but to say Mr Zuckerberg or Mr BEzos who the latter has run a company for 25 years that recently hit 1 trillion market cap and has NEVER paid a cent EVER ... in corporate tax, never paid a dividend, something is either wrong with ME .... or with them.
Even the upper middle class, who YES retire with some assets, but being sick in the USA is massively expensive and more and more gaps of not covered and costs for even simple medications at 4 times anywhere else in the world, even they end life on the whole BROKE.
That said. the top 40% ... are in the USA living as one might expect to normal OECD life expectations and the top 10% as always live OECD best plus about 5 years so to 89 .... the USA average is officially 76.8 years .... its lost 7 years post 1985 v Australia let alone 25 OECD top nations ... if one takes out the top 40% of USA and uses a real average life expectancy of the USA not some fiction so about 75 .... the lower 80% and their life expectancy just hit 69 or about the same as Ethiopia or Sudan...
As always a cost .... if one bothers to look.hhhh
USA policy post 1980 when political donations started and now run the goverment and corporate tax is now 30% of what it was. I am serious and even in 2000 USA collected 207 billion corporate tax and the economy was 45% of what it was now. So in other words its lost HALF .... post 2000.
Of course, to say Facebook who actually claimed 5 billion tax deductions for shares granted to Zuckerburg and fellow board members at $10 and when exercised at $120 share price ... they got a deduction for the difference between the two .... $110- and didn't have to pay tax.
Silly Mr Macron in France expecting Facebook to pay tax .... THEY will de=friend you !!
..
Amazing the dictator who ... runs the world now ... is openly threatening France for actually going .... well ... we are merely asking for a share of what we already paid for via the R+D deductions that are already built into the NET profit which of course Facebook paid NO tax to anyone for 60% of the world business it does ...
Silly me ... this will work out fine. That is if Trump doesn't decide to invade North Korea first or ... as Bolton said, nuke them First ... I am sure China will not mind a nuclear cloud over them. They reacted so well last time USA invaded and only 3 million Chinese troops sent McCauther back to the 45th ....
Ahhh bliss .... but for now ... USA goes up.So too do we .... based upon interest rates. Our Govt here, has the wrong policy and balancing the budget with 2% inflation and 3% GDP growth ....we could spend 5% just like the USA but not on tax breaks to the top 1% or 0.1% ... and get things moving. Even 2% of that.'
Since our debt to GDP is a mere 30% NET ... including RBA assets and Future fund, its not as though we are ... even close to USA at 107% of GDP right now or EU average of 94% of GDP ...
We basically are being very loose via RBA policy and then doing the opposite via fiscal policy with that idiot fathead Morrison and Flckerberg even more moronic as treasurer. Yes it makes Sense to have the handbrake on via fiscal policy and the accelerator down via monetary and 1% rates.
Then again, bigger scheme of things, its an aside likely to be irrelevant as the USA seems to think its 1875 and they lead the world. Well since the population globally is 7 times larger and the USA, even with 325 million, only 100 million REAL consumers left .... all the rest on some sick death march of low wages and medical blackmail .... the sad fact that China alone has 700 milloio0n well funded middle class AND the EU with 300 million WELL Funded ... middle class and another 400 million around the world, USA with a mere 100 million relevant all be it mainly racist selfish for a lot of them, will not dictate to the rest of the developed and rich outside world for too much longer.ass
Either Trump exits, and hopefully not Biden as he is likely another bribed corporate fool .... but eventually the rest of the world cannot afford to have such a leak of tax via Google, Microsoft, Intel, Amazon and a long list of others, mainly USA based .... draining the welfare of the world at will.
It is sadly that serious. Given up on Morrison and his boot-licking is a disgrace.
China and India both said get stuffed as well as so many others, which, is evolving onto what the world will look like in the not too distant future. EU and 27 nations same thing.
USA first and stuff the rest ? Or Stuff USA ... or should I say the top 1% and also the racist openly so of late the whole USA and send her back to 3 out of 4 born in the USA ... all women ... so they should shut up according to facist pig with wig .... and my my ... their skin is NOT white !! and SOME have different religious beliefs . Golly ...
kkk
We are in the 1920's for USA where 3 million Klan followers .... about 5% of the adult population were card carrying members. Trumps daddy got arrested at one Klan rally, Gates father ... well he was an Eugenicist a well documented white ONLY one and Buffett his daddy a Birch Society follower who among other things was a holocaust denier .... Buffet supposedly had a normal upbringing if you read some books, but ... well a fiction ... Daddy was one of the original Senators and far right even of Trump ... far far ultra right and America First party member.
Yipeee ....
hmmm
you stupid ignorant French person expecting Facebook to pay tax !!
Meanwhile Our PM ... seen stuffing 6 pies down his throat at the footie ...
I found this on Insulin which is a subset of the USA healthcare nightmare ... a good view the first 5 mins or so ....
I am however no holding my breath ... Biden should he beat Trump and Trump actually leaves office which ... is a maybe, his recent rants on fake voters is absurd, will not change the USA medical side.
For NOW and I stress this ... NO TAX .... LOW RATEES ... drive USA higher .... for now ... likely 3,165 on the S+P .... the thing is a house of straw.
Democrats most of whom are talking universal healthcare HAVE NO IDEA .... NONE .... Berine Sanders whilst I wish for better outcomes for USA and its PEOPLE not the racists pigs in charge or inhumane greed on display .... USA spends 20% of GDP on healthcare. Its about a 65% level or EU nations healthcare. The top 40% of course very close to EU standards .... the lower 60% awful and like a weird torture but worse, a death march. It is SICK.
Insulin and other drugs for common things such as asthma at 5-10 times Canada or Eu or Mexican prices without any goverment intervention. Insulin invented in 1922 and patent sold for $1- ... YES $1- costs about $25 for a vial .... for a serious users needing 6 or so a month, so $150- cost, sold for in Canada for $225. USD similar her not on PBS .... ... in the USA its $1,400- plus.
It goes all across the medical side from a hospital bed ... at 5 times Canada to a broken arm at 4 times cost to an MRI at 4 times and so on.
Most of the 65 nations with universal healthcare ... it costs 8-10% of GDP in TOTAL ... for near 100% cover. USA well cover at best is 65% .... and costs 20% of GDP. So in reality its 30% of GDP cost for full cover, if they were stupid enough to pay it. Massive profits and self interest of Mr Buffets medical insurance business and other cretins all around ... so every third add on Public Tv is A drug company and then the others are defense contractors ... I am serious. As for political donations .... both are massive and mainstream media has massive revenue from both of these groups so dont expect ANY coverage or unbiased coverage ....
Reality is .... missed by Democrats and stupid BERNIE SANDERS .... whilst a big fan of universal healthcare and better outcome for what USA is, a sad racist death camp being run by KKK types as Trumps father was or Holocaust deniers ... like Birch Society founding member Mr Buffett senior was or Eugenicists ... like Bill Gates daddy was and stop those no whites breeding, the favorite charity of both Gates and Buffett is none other than Margaret Sanger's planned parenthood who describes Blacks as morons and imbeciles and Daddy gates ran it for many many years, this, view, ... well anyone ... NOT American not white as imbeciles.
USA just told France because they object to a NON TAX paying ... tax thieving cretin Zuckerburg, that they would impose tariffs and sanctions because France said ... well we will tax someone conducting business on our soil and COLLECT tax is absurd.
USA ... Trump actually not a person who has ever drunk, actually said, as the expert he is, that he always liked American wines and NOT French ones. As someone who lived in the USA, being nice, American wines ... taste like their taste in fast food as being gourmet.
This to one side. The inhumanity of it. Let alone a dictator threatening nations with war, or nuclear bombing and North Korea now joined with Afghanistan ....
healthcare wise if 65 nations spend 8-10% of Healthcare universal close to 100% cover .... USA is number 37 on World health and really close to 85 .... if one was unbiased, 11 out of 11 worst on OECD developed nations and it is AT best 65% overall cover, but pays 20% of GDP ... so for 100% cover 30% of GDP ... if they Said get stuffed and paid $125 for Insulin instead of $800 .... via a single payer, USA would over say 5 years go from a cost of 20% of GDP and a mere 65% cover to close to 100% cover and a cost likely 10% of GDP.
This ... is missed astoundingly ... and amazingly by even the better Democrat 2020 universal healthcare opponents of Trump. Are they IDIOTS ? Biden is another bribed and corporate democrat like Obama taking massive donations to keep things the way they are. Bugger the people.
USA would HALVE .... or close to it its overall healthcare costs in the system WHILST HALVING the overall total cost. No medicare ... type universal payer is going to pay $1,300 for a MRI to any provider when it costs even with a decent profit margin UNDER $200 --- .... this is HOW sick and perverted USA is now.
As to tax ... and USA say dictating things, and so so many sick things going on Yemen and arm sales for genocide to Guatemala a nation with an awful crime rate and murder rate 23 times Australia Trump has pressured them to be declared a safe haven and keep out those damm .... colored Hispanics. Let alone Venezuela and Iran ... where the latter, will never be forgiven for being a minority religion and being not willing to follow USA.
I really cant say where it ends.
USA with the Fed about to CUT RATES ... despite all time highs on equities, mind you a lot fueled by Tax theft, threats of violence, sanctions and a death camp being run by ... a massive heal-care sham, ... and a defict topping 1 trillion in 2019, a Debt to GDP ratio cast in stone of 125% of GDP in a few years and NO income for those outside the top 20% or 1% ?
The world ... the global economy and viability of even developed nations is under threat. Not so much by idiot Trump, but when say any viable competition to even a Google cannot compete as they pay NO GST on sales and NO tax on profits, which makes any competitor impossible to have any hope is identical across say banking where an EU nation with 40% of GDP in tax collected has its credit rating 5 levels below USA with LESS debt to GDP .... LESS and USA collects 30% of GDP in tax and has unfunded liabilities of uncollected pensions which, well ... they clearly are ignoring and intend to.
USA ... is out of control and has NO RIGHT to dictate the taxes and collection of taxes inside some other nation.
TAX is the issue on trade and whilst China may subsidize things, USA does the same for say Boeing. and does even more so via encouraging and protecting outright theft of Taxes overseas.
But for now ... USA lowering rates, USA corporate paying NO tax .... pretending Facebook pays 1 billion in 2018 overseas tax when I can find a total ONLY under $100- Million USD of any tax paid, on income and I am up to 75% of all overseas sales ... ALL of it ... does it pay it to some fantasy tax haven ? It appears so ... Google is worse, Microsoft a joke Chevron ... wow ...
For NOW ... yep USA goes up.
How about if they did actually PAY 20% tax to someone .... they WOULD HALVE ... the tech company valuations overnight. How about, which is unlikely, but will occur, Drug companies and USA insurers ... hospital providers and so on ... GOT paid 25% ... of what they now enjoy ?
This makes say 2007 look tame, not as immediate, the driver or catalyst is NEEDED ... and heaven help them if on of the Democrats does ECONOMICS and is not in the pocket of corporate like Biden is and Obama was and Clinton as well ... and actually does something for the people verses the scum and changes things. How amazing to NOT pay tax above $120,000- on social security or medicare at a 15% rate, this is the joke of Drip down economics in the USA.
Meanwhile Australia, our fathead PM ... loosing 30 billion in tax revenue a a year, stuffed 5 more pies in his face.
Sad ... so so sad.
Unfortunately most NON USA nations facing a macro doomsday. Lowering rates in the USA with the high cost debt of credit cards and car leases ... at well over 10% above cash rates and NOT moving or likely to move, they could lower rates to minus 5% ... the deficit is NOT going into welfare or new roads or education, its going to MR BEzos and his divorce and new shares he issued at 10% the current market price which ... is a tax deduction ?
Sadly ... its occurred before and the outcome over history is ALWAYS the same. We here, need to stand up and go GET stuffed much like France. But with a jelly blubber for PM ....
heaven help us.
Did we vote in Trump ?