The most dramatic swings of the stonk market we've seen in a long ass time. The upshot? Not stonks.

Eyy I agree, political leaders chosen by your generation and the boomers created an unsusatinable, debt-fueled and tremendously unequal economy unequipped to deal with a shock like this

And Trump didn’t fix any of those issues at all!

Lol you’ve gone way beyond anything I’ve said in your zeal to paint me as a “Leftist”

When I say the economy is “tremendously unequal,” I‘m not calling for the abolition of private wealth.

I understand that unequal talents, educations, etc. will translate into a certain amount of inequality of outcome. I don’t favor a Gini coefficient of 0.

But the sheer amount of inequality is staggering, and a lot of folks could be paying much more in taxes to give back to the society that gave them so much.

Top marginal tax rates during WWII would make your eyes water.

Not saying we have to go back to that — average people sacrificed a lot to win the war, too — but we sure did achieve a lot as a country when we pulled together.

And our grandmothers and grandfathers who lived through that period of our history are not known as the “greatest generation” for nothing.

There are other problems we could solve with only an ounce of the effort that it took to beat the Nazis and Japanese, but it seems we’re content to give up and stagnate.

Why?

I didn’t answer your (rhetorical!) questions because they are premised on faulty assumptions about what I believe.

Did I make any claim about whether they paid those rates? No. I would suspect they did their best to avoid them, just as rich people do nowadays. So? With higher rates, the government still collects more at the end of the day than the much lower rates we have today.

Can you identify any other supposedly “false claims” you’d care to discuss? You said I just made “a lot.” What else do you disagree with

I’m not stirring up envy by the way, I am only calling upon the wealthiest to pay the tax rates that it actually costs to run our country so we don’t keep piling more debt on the backs of future generations

As usual, the one projecting, deflecting, and being unnecessarily combative is you

So easy for you to misconstrue what others say, dodge & deflect, then repeat some of your patented Begging the Question & Red Herring combos shellacked Pass/Aggrv Ad Hominems, but oh my, should a question asked of you not fit nicely into your script, then it's totes unfair, as you darn milli kids would say.

I would help you both if you actually read my words

I can not force you to do so, however

Cutting to the chase here: You're talking about the Laffer curve, a staple of Republican economic orthodoxy which has been around for decades but successfully challenged by many economists on both right and left.

https://qz.com/895785/laffer-curve-everything-trump-and-republicans-get-wrong-about-trickle-down-economics-and-reaganomics/

https://www.theguardian.com/commentisfree/2019/jun/12/why-are-we-still-pretending-trickle-down-economics-work

The money quote from the Guardian article: "More recently, in Kansas, where an extreme version of Laffer’s theory was implemented and tax rates were cut by nearly a third, the state suffered one of the worst fiscal disasters in recent history."

And here's further reading on that Kansas experiment from infamously Left-Wing publications such as Forbes: https://www.forbes.com/sites/beltway/2017/06/07/the-great-kansas-tax-cut-experiment-crashes-and-burns/#44f38f555508

Business Insider:
https://www.businessinsider.com/kansas-experiment-with-tax-cutting-failed-on-its-own-terms-2017-6

And the Brookings Institution:
https://www.brookings.edu/blog/unpacked/2017/07/11/the-kansas-tax-cut-experiment/

Toilet paper stocks are through the roof!

BWAHAHAHAHAHA!!!!!!!!!!

The Dow has inched back from -9.86% ever so slightly this afternoon, but today is still on track for a record plunge.

I was hopeful seeing the rally on Friday, but looks like that hope was misplaced.

Not stonks!

Update (market close): Dow is Down 12.93% on the day

Yikes on a bike