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Completely Unwoven: Business, Economics, and Tax Policy 4.0

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  • #856
    Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

    Originally posted by St. Clown View Post
    An economic profit is a gain in excess of "normal" profits, generally measured as profits greater than current rates of return in either the bond market or stock market. Basically, an economic profit is only seen after consideration of opportunity costs.
    Exactly.


    But what newspapers report as "profit" is any gain above break-even, even if it is well below a "normal" profit level.

    Then some of them can demagogue the issue and get people all worked up about it.
    "Hope is a good thing; maybe the best of things."

    "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

    "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

    "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

    Comment

    • #857
      Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

      Originally posted by FreshFish View Post
      Exactly.


      But what newspapers report as "profit" is any gain above break-even, even if it is well below a "normal" profit level.

      Then some of them can demagogue the issue and get people all worked up about it.
      That's because there's a difference between an accountancy profit, which is what 99% of people consider to be a profit, including the IRS, and what economists consider a profit because economists measure social profits.
      "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

      "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

      "Good news! We have a delivery." Professor Farnsworth

      Comment

      • #858
        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

        Pew Research released the Middle Class numbers.

        The American middle class keeps shrinking.

        "The share of American adults in middle-income households also decreased, from 55% in 2000 to 51% in 2014," Pew Research Center reports. "At the same time, the share of adults in the upper-income tier increased from 17% to 20%."

        ...

        Here's the breakdown of how much you have to earn each year to qualify as middle-income, depending on the size of your family:

        Household of one: $24,042 to $72,126

        Household of two: $34,000 to $102,001

        Household of three: $41,641 to $124,925

        Household of four: $48,083 to $144,251

        Household of five: $53,759 to $161,277
        "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

        "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

        "Good news! We have a delivery." Professor Farnsworth

        Comment

        • #859
          Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

          Interesting. Those numbers look pretty good to me.
          **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

          Originally Posted by dropthatpuck-Scooby's a lost cause.
          Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

          Comment

          • #860
            Originally posted by St. Clown View Post
            Pew Research released the Middle Class numbers.
            I feel middle class (or what I think middle class should be, comfortable with some disposable income), but according to this my family of three makes too much. Am I upper middle class? I don't think I would have considered myself that.

            Comment

            • #861
              Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

              Originally posted by St. Clown View Post
              Pew Research released the Middle Class numbers.
              One set of numbers says very little. A great salary in Butte won't buy a studio apartment in Brooklyn.

              According to those numbers I'm upper class; I guess I should turn Republican and f-ck the rest of you over.
              Cornell University
              National Champion 1967, 1970
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              Comment

              • #862
                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                Originally posted by BassAle View Post
                I feel middle class (or what I think middle class should be, comfortable with some disposable income), but according to this my family of three makes too much. Am I upper middle class? I don't think I would have considered myself that.
                Upper middle class is probably 1.25 - 1.5x those numbers, and lower middle class .75x - .875x. So if your household income is > 1.5x their number for F3, congrats, you're rich.
                Cornell University
                National Champion 1967, 1970
                ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                Comment

                • #863
                  Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                  Originally posted by St. Clown View Post
                  Pew Research released the Middle Class numbers.
                  Neglect not, the b*tching about illegals and welfare queens in the comments.

                  Comment

                  • #864
                    Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                    Originally posted by Kepler View Post
                    One set of numbers says very little. A great salary in Butte won't buy a studio apartment in Brooklyn.

                    According to those numbers I'm upper class; I guess I should turn Republican and f-ck the rest of you over.
                    That's why the range is so large. The low end is the middle of Mississippi while the high end would be for just outside the San Francisco area. Also, being just above those figures doesn't make someone well-off, just a higher than normal income. Don't be so defensive about earning a good wage.
                    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                    "Good news! We have a delivery." Professor Farnsworth

                    Comment

                    • #865
                      Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                      Originally posted by FadeToBlack&Gold View Post
                      Neglect not, the b*tching about illegals and welfare queens in the comments.
                      I didn't even think to read the comments. It's the internet, so I'm sure they're all spot on and hold great insight.
                      "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

                      "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

                      "Good news! We have a delivery." Professor Farnsworth

                      Comment

                      • #866
                        Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                        Originally posted by St. Clown View Post
                        That's why the range is so large. The low end is the middle of Mississippi while the high end would be for just outside the San Francisco area. Also, being just above those figures doesn't make someone well-off, just a higher than normal income. Don't be so defensive about earning a good wage.
                        Being single is also a huge factor. $90k goes a lot farther when flying solo, than it does with a family of 7. I still can't figure how my Ft. Wayne cousin, her husband, and their 5 kids, get by on his music teacher's salary (which I presume is about $45-50k at his seniority/locale in IN).

                        EDIT: Well, OK. They don't ski or vacation in Aspen, for one.
                        Last edited by FadeToBlack&Gold; 03-15-2017, 12:51 AM.

                        Comment

                        • #867
                          Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                          Originally posted by BassAle View Post
                          I feel middle class (or what I think middle class should be, comfortable with some disposable income), but according to this my family of three makes too much. Am I upper middle class? I don't think I would have considered myself that.
                          The tired old political joke is "how do Democrats define 'rich'"?

                          -- anyone who makes more than me.
                          "Hope is a good thing; maybe the best of things."

                          "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

                          "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

                          "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

                          Comment

                          • #868
                            Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                            Originally posted by St. Clown View Post
                            I didn't even think to read the comments. It's the internet, so I'm sure they're all spot on and hold great insight.
                            My nominee for Post of the Year.
                            Cornell University
                            National Champion 1967, 1970
                            ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
                            Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018, 2019, 2020

                            Comment

                            • #869
                              Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                              Originally posted by FreshFish View Post
                              The tired old political joke is "how do Democrats define 'rich'"?

                              -- anyone who makes more than me.
                              what did j. forbes kerry define as "super rich" in 2004? 75k?
                              a legend and an out of work bum look a lot alike, daddy.

                              Comment

                              • #870
                                Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0

                                Originally posted by mookie1995 View Post
                                what did j. forbes kerry define as "super rich" in 2004? 75k?
                                I thought it was $200k
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