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unclefulbert 259 posts  |  Last Activity: 15 hours ago Member since: Mar 8, 2003
  • Reply to

    The Shrinking Middle Class

    by w.heinlein Apr 19, 2016 2:26 PM
    unclefulbert unclefulbert Apr 20, 2016 9:35 AM Flag

    Agree, I paid more SET than FIT 9 of the past 16 years. Without the cap, I would pay out a bit more most years as well.

    And all those loopholes. Think most middle class citizens get to write off $500K home sales capital gain as often as every 2 years? FCOL, the national median home sales price is only about $200K per Zillow - Feb 2017 United States $208,226 Median sale price.

  • In a recent campaign fundraising email, the Texas senator enumerated the “significant sacrifices” he was making in his bid for the highest office in the US, including daily attacks from the liberal media, no time with his family, not as much sleep as he would like and no personal time.

    Elizabeth Warren, the firebrand US senator who many hoped would run for president, had some choice words for Cruz: quit the whining. “We’re supposed to pity him because trying to be the leader of the free world is hard?! I’ve got two words for you, Ted: Boo hoo,” she wrote on her Facebook page.

    Warren noted that the people making real sacrifices were not gilded politicians, but people with no paid leave who can’t stay home when they are sick or their kids are sick, or workers who toil like hell to save money but can’t because they are suffering under staggering debt loads and stagnant wages.

    Know who gets no personal time? People who work two minimum wage jobs to support their families. Know who gets no family time? Moms with unfair schedules who drop their kids off at daycare and drive halfway across town only to find their work hours have been cancelled.

    According to Warren, Cruz is personally responsible for making the lives of these workers harder. He opposes mandatory paid family and medical leave—which he dubs “free stuff”, voted against student loan refinancing, and thinks the minimum wage is “bad policy”.

  • unclefulbert unclefulbert Apr 19, 2016 10:52 PM Flag

    Too bad, the two worst candidates for the people are to be nominated. Something wrong with our democracy:

    They may be the frontrunners, but a majority of Americans can’t see themselves supporting either Donald Trump or Hillary Clinton. Nor, for that matter, could they fathom supporting Texas Sen. Ted Cruz.

    According to a new NBC News/Wall Street Journal national poll, 68 percent of registered voters say they couldn’t see themselves supporting Trump, while 58 percent say the same about Clinton. Sixty-one percent of voters surveyed said they couldn’t see themselves backing Cruz.

    SLIDESHOW – The battle for New York

    Bernie Sanders and John Kasich fared slightly better, with a minority of voters saying they couldn’t see themselves supporting either the Vermont senator (48 percent) or the Ohio governor (47 percent).

  • Reply to

    The Shrinking Middle Class

    by w.heinlein Apr 19, 2016 2:26 PM
    unclefulbert unclefulbert Apr 19, 2016 9:44 PM Flag

    Exactly, depends on the assumptions, i.e. range of income in the three classes. Bet if you move the income for upper class to $413K which corresponse to the top 2 of 7 tax brackets, the distribution of the middle class might have remained static since 1980.

    Also. you has ignored my point on higher payroll taxes for the middle class while capped for the high income class since the mid-1980s. Tax rate was a hot topic in the 2012 Presidential debate and it has been one of those Middle Class gripes since Clinton years.

  • Update: Intel also announces it's cutting up to 12K jobs (11% of its workforce) through a restructuring. A $1.2B charge is expected. $1.4B/year in cost savings are expected by mid-2017.
    Update 2: CFO Stacy Smith will be transitioning to a new role at Intel - he'll lead sales, manufacturing, and operations. A search has begun for a new CFO.

  • Reply to

    Houston Under Water

    by trueallday Apr 19, 2016 9:20 AM
    unclefulbert unclefulbert Apr 19, 2016 3:49 PM Flag

    There are too much concrete over Houston. No drainage. It is one of the hardest place to walk around outside of the boutiques near Rice University AND ONLY the couple of months when the weather was okay. But you still need to drive, take a taxi or hotel shuttle to get there.

  • Reply to

    The Shrinking Middle Class

    by w.heinlein Apr 19, 2016 2:26 PM
    unclefulbert unclefulbert Apr 19, 2016 3:44 PM Flag

    Just checked and the same article came out last year. The data shown for change between 1971 to 2015 was:
    Low: 25% to 29%
    Middle: 61% to 50%
    High: 14% to 21%

    But if you add the broader definition for Middle class as Lower middle + middle + upper middle
    Low: 16% to 20%
    Middle: 80% to 71%
    High: 4% to 9%

    Furthermore, taxes for the middle class had gone up thanks to Reaganomics while the rich paid less. Devil is in the detail.

  • Reply to

    Big Blue EA - foggy bullets

    by chaunce_gardner Apr 18, 2016 4:13 PM
    unclefulbert unclefulbert Apr 18, 2016 4:15 PM Flag

    IBM beats estimates, favorably adjusts cash flow guidance

    International Business Machines (NYSE:IBM): Q1 EPS of $2.35 beats by $0.26.
    Revenue of $18.68B (-4.6% Y/Y) beats by $400M.
    Maintains guidance for 2016 EPS of "at least" $13.50. Consensus is at $13.54.
    Now expects 2016 free cash flow to be at high end of $11B-$12B guidance range.
    Shares +1.2% after hours.

  • Reply to

    Big Blue EA - foggy bullets

    by chaunce_gardner Apr 18, 2016 4:13 PM
    unclefulbert unclefulbert Apr 18, 2016 4:14 PM Flag

    Even cloud and services is down. Same old shrinking top line story. ... But they are buying back stocks and paying out big dividends to Warren Buffet.

  • was 15% before Obama raised it in 2012.

    NEW YORK - New York City's largest public pension is exiting all hedge fund investments in the latest sign that the $4 trillion public pension sector is losing patience with these often secretive portfolios at a time of poor performance and high fees.
    ...
    "Hedges have underperformed, costing us millions," New York City's Public Advocate Letitia James told board members in prepared remarks. "Let them sell their summer homes and jets, and return those fees to their investors."

  • Reply to

    Cruz: Market crash coming

    by springerhasleakysphincters Apr 15, 2016 10:32 AM
    unclefulbert unclefulbert Apr 15, 2016 11:36 AM Flag

    So y'all should just give up and remain status quo? No wonder the Cruz and Trump and Sanders are all leading in national polls.

  • Reply to

    Cruz: Market crash coming

    by springerhasleakysphincters Apr 15, 2016 10:32 AM
    unclefulbert unclefulbert Apr 15, 2016 10:47 AM Flag

    The headline is misleading. What he meant is the value of assets have been inflated by the fed policy. That is not sustainable. Also, he said the economy will benefit by tax code overhaul which no one dispute. The 10% individual and 16% corporate flat rates sound reasonable to everyone IF all loopholes are removed.

  • On Friday, President Barack Obama announced he would sign an Executive Order directing every relevant agency of the Federal government to take steps in identifying bottlenecks to competition and to create new ways to increase competition in the economy. The Executive Order puts agencies on a fast-track path to, within 60 days, identify the steps they’ll take.

    “Competition is good for consumers,” Obama told Yahoo Finance in an interview at the White House on Thursday. “And ultimately it's good for business. That's the way the free market works. The more competition we have, the more products, services, innovation takes place.”

    As one of the first actions in this new, government-wide push, the Commerce Department is filing with the Federal Communications Commission (FCC) to call on it to increase competition in the set-top box market.

    Cable and satellite TV boxes sit on televisions in hundreds of millions of American homes, showing up on every month’s bill as “converter rental.” According to analysis by the White House, the cost cable set-top boxes — on average $231 to rent per year — has risen 185% while the cost of computers, televisions and mobile phones has dropped by 90%.

    “It's been tied to the provider, and you rent it and consumers spend billions of dollars on this every single year,” Obama said. “There hasn't been much innovation”

  • Has extinguished the foreclosure firestorm. Guess you will have to look it up:

    Foreclosures fall to pre-crisis lows --- That was the lowest since the last quarter of 2006.

    The housing market continues to heal, with national foreclosures at 9-year lows, but pockets of distress remain. ... Among metropolitan areas with populations greater than 200,000, 78 had foreclosure activity that was lower than pre- recession levels. In many cases, those levels were well below their averages before the recession.

  • Initial Jobless Claims: -13K to 253K vs. 267K consensus, 266K prior (revised).

    Continuing Claims 2.171M vs. 2.191M prior.

  • Stanford University 4.69%
    Harvard University 5.2%
    Columbia University 6.04%
    Yale University 6.27%
    Princeton University 6.46%
    University of Chicago ???
    Caltech ???
    MIT 7.81%
    Brown University 9%
    Pomona College 9.1%
    University of Pennsylvania 9.4%
    Vanderbilt University 10%
    Duke University 10.4%
    Dartmouth College 10.5%
    Northwestern University 10.69%
    Johns Hopkins University 11.58%
    Swarthmore College 12%
    Amherst College 13.7%
    Berkeley 14.8%

  • WASHINGTON (Reuters) - The U.S. government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday.

    The government had a deficit of $53 billion in March of 2015, according to the Treasury's monthly budget statement. Analysts polled by Reuters had expected a $104 billion deficit for last month.

    Accounting for calendar adjustments, March would have shown a $102 billion deficit compared with an adjusted $89 billion deficit in March 2015.

    The current fiscal year-to-date deficit was $461 billion, up 5 percent from a $439 billion deficit this time last year.

    Receipts last month totaled $228 billion, while outlays stood at $336 billion.

  • unclefulbert unclefulbert Apr 12, 2016 3:06 PM Flag

    vt,

    Billary made a bad choice but not according to her political machine. Her early reply was it was not illegal. It was common practice. I thought it was kosher. I did nothing wrong. What does it matter etc.

    Like her husband, she only said it was a bad choice after it was clear that she ignored her own State Department's recommendation to use secured desktop but reportedly decided it was too hard to use. Can you believe that #$%$? Too hard to use for her and others have to?

  • unclefulbert unclefulbert Apr 12, 2016 2:59 PM Flag

    1. Outdated government communications system and she was in charge of funding to upgrade it?

    2. Bush cabinet members did the same sort of thing? Try tell the cops a few other cars passed you a few minutes ago and you were only 10 mph above the speed limit.

  • Reply to

    Bad Ideas Left and Right

    by w.heinlein Apr 11, 2016 3:50 PM
    unclefulbert unclefulbert Apr 12, 2016 2:56 PM Flag

    heilein,

    No disagreement at all. I am all for trading with China if they can produce widgets cheaper without polluting their rivers and air, without child labor or only under 35 years old are hired, without kick backs to officials or politicians, without paying for IP, without false advertising, without packaged food with plastic fillers, without violating Ivory ban ... In other words, fair trade, not free trade.

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