Income Inequality!

[Matt_W]

@inactive_user

The tax benefit for contributing to a Roth IRA doesn’t require itemizing deductions, right?

There is no immediate tax benefit for contributing to a Roth IRA, so there’s nothing to file with your taxes. And when you get qualified distributions from the account, you don’t pay taxes on them so don’t have to file anything then either.

The only tax paperwork is: when you open a Roth IRA account, you submit a Form 5305-R designating it as a Roth account.

[Timex]

Ya, if you want tax benefits NOW, you use a traditional IRA. The Roth IRA makes you pay taxes on the money that you’re putting in today, but allows you to pull money out later without paying taxes on the gains.

[SadleyBradley]

@scottagibson

I guess I don’t think this is an accident .

Of course not. This is why I find the argument that “we just need to close all these loopholes” so facile. The people responsible for closing those loopholes are either themselves very wealthy or they are largely funded by others who are. It’s a non-starter.

[Timex]

@SadleyBradley

The people responsible for closing those loopholes are either themselves very wealthy or they are largely funded by others who are. It’s a non-starter.

If you can’t get them to close the loopholes, then how would you get them to pass a wealth tax? They’re the same people.

[SadleyBradley]

A wealth tax is already popular with the majority of Americans and I actually don’t think it would affect the majority of Congress directly. I think enough congresspeople could look at that calculus and get on board. Loopholes that can be exploited by everyone across the spectrum of wealth are much more widely used, by politicians directly as well as a ton of other moderately wealthy people.

[inactive_user]

@Matt_W

There is no immediate tax benefit for contributing to a Roth IRA, so there’s nothing to file with your taxes. And when you get qualified distributions from the account, you don’t pay taxes on them so don’t have to file anything then either.

The only tax paperwork is: when you open a Roth IRA account, you submit a Form 5305-R designating it as a Roth account.

Right, right. Herpa derp, pretty sure I knew all that somewhere buried under all the baseball trivia.

[Telefrog]

This fucking guy.

A hotel chain CEO says bigger tips, not raises and bonuses, could stop...

Darnall said better tipping policies - not raises and bonuses - could help hotels and restaurants retain workers amid the US labor shortage. The US Chamber of Commerce has declared the shortage a “national economic emergency.”

Some hotels have been raising salaries and offering bonuses, but Darnall said that this has “never been the solution” for hiring challenges in the hospitality industry. “If somebody pays a dollar more then somebody else is going to match that,” Darnall said.

“I call that an unsustainable competitive advantage. In other words, you’re at a competitive advantage for an hour, until somebody decides to match it,” he said.

[Perky_Goth]

For reference on how tight the supply is…

[JoshL]

I wish someone would ask that guy why, if that’s the case, the executives don’t work for tips.

But nobody ever will.

[scottagibson]

I mean, this guy is basically saying customers should pay more money so that workers make more money. This may well be true, but it strikes me that that sort of thing is under management / ownership control. Raise your fucking rates and wages.

[Juan_Raigada]

Moreover, their income/profit does not change with what clients are willing to pay, only their wages

[scottagibson]

I really want to find that guy and slap him. He’s an insult to my former profession.

[ZeTh1]

@Timex

@Shuma

Could you stop this strawmanning nonsense? No one is saying obscenely wealthy people don’t deserve wealth, just less of it.

Caledari is literally arguing:

@Calelari

if not Bezos, someone else would’ve done it

It’s an insane position, because it means that no action that anyone takes can have value to society… Or at least, they themselves are not valuable or special as a result of their actions. If they hadn’t done whatever they did, it wouldn’t have mattered, because “someone else would have done it.”

Amazon does not exist in many European countries and guess what happened? Allegro controls 80% of Poland’s online market, Emag 80% of Romania’s. In the absence of regulations, online markets have a tendency to turn into monopolies so if Amazon didn’t exist someone else would be there.

[Juan_Raigada]

Yep. Again, the quaintly XIXth century “great man” theory has been superseded in both history and economics for a long while.

[Timex]

Copying something isn’t the same as inventing something. But beyond that, are we really arguing that allegro is the same as Amazon?

[scottagibson]

What did God-Emperor Jeffy invent?

[Perky_Goth]

The logistics network that no else needed, and the Germans failed to.

[ZeTh1]

They didn’t need to copy Amazon because, like Amazon, they used the good old “sell on huge loses until the competition is crushed and then cash in while you enjoy the monopoly”. And my point was Allegro is nothing like Amazon yet they captured another country’s online market because they had the sufficient cash stack at the right time. Innovation has nothing to do with it.

[Timex]

Well sure, innovation had nothing to do with it when you are just doing what someone else has already successfully done.

Also, it’s funny that in this case, the current leadership of allegro is literally people who used to work for Amazon. They are literally people who learned from Amazon, and are applying those lessons at allegro.

[Strollen]

@Juan_Raigada

Yep. Again, the quaintly XIXth century “great man” theory has been superseded in both history and economics for a long while.

Do you think there are great athletes, actors, singers, artists, doctors, lawyers,physicist, chemist, economist etc?
People who win Oscars, and Nobel prizes ,10+ Olympic Gold Medal, or simple the title the GOAT (greatest of all time). But somehow, out of all human activity, this doesn’t exist in business. Why is that?
But some how business is the