The Economy and Economics

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johnlocke

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“If Charles F. Kettering or Thomas Alva Edison or Henry Ford had been put to work digging ditches under duress, one could calculate approximately how much energy or work could have been got out of them. Left to their own devices, as they were, it is impossible to say how much energy they actually released into production.”

― Isabel Paterson, The God of the Machine
 
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johnlocke

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johnlocke

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Ugh! If your product can't compete without government subsidies it doesn't belong on the market.

The false premise here is that the earth is dying, we caused it and evs will help fix it.

There is a lot that could be unpacked in just that one premise.

 
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johnlocke

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This is Trumps biggest economic failure and the chickens are coming home to roost.

Tariffs do little to those they are imposed upon. It is always passed on to the consumer in the sale countries.

Trumps Wharton BS economic education rearing its head here.

There are better ways to fight economically. This was not one.

U.S. Manufacturers Blame Tariffs for Swelling Inflation U.S. Manufacturers Blame Tariffs for Swelling Inflation
 

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This is Trumps biggest economic failure and the chickens are coming home to roost.

Tariffs do little to those they are imposed upon. It is always passed on to the consumer in the sale countries.

Trumps Wharton BS economic education rearing its head here.

There are better ways to fight economically. This was not one.

U.S. Manufacturers Blame Tariffs for Swelling Inflation U.S. Manufacturers Blame Tariffs for Swelling Inflation
I would have went with approving the rise of the debt ceiling, but you do you.
 
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johnlocke

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I would have went with approving the rise of the debt ceiling, but you do you.

Right on cue this morning. :)

 
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First Biden Budget Retains Trump-Era Business Tax Break​

Biden’s campaign plan would have limited deduction for partnerships, S corporations but president hasn’t proposed any changes​

im-346037

President Biden unveiled a $6 trillion spending plan Friday that boosts funding for infrastructure, healthcare and education.​

PHOTO: CHRIS KLEPONIS/POOL/SHUTTERSTOCK
By
Richard Rubin
May 29, 2021 9:00 am ET

WASHINGTON—Owners of closely held businesses would still get a 20% tax deduction under President Biden’s tax plan, leaving high-income people who run construction companies and manufacturing firms benefiting—for now—from a provision that Republicans created in 2017 over Democratic opposition.

Although Mr. Biden campaigned on limiting the break, the deduction went untouched in the first $2.4 trillion worth of net tax increases that were detailed by the Biden administration on Friday.

Administration officials haven’t said why they haven’t proposed curbing the break at this point, and the White House didn’t comment. Treasury officials said Friday that some campaign proposals need more work and others may appear in future plans.
 

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Well, this surprised me this morning.

I was a long time smoker, but made the transition to vaping years ago. I had stocked up on some supplies in 2020, but thought it was time to order some more.

My favorite little online vendor that I have been ordering from for years has been put out of business in a manner of only a few months. They closed up shop in May, purely because of this nonsense buried in that "Relief Bill." All in the name of protecting the children.

In late December 2020, Congress passed a huge spending package that included a coronavirus relief bill, and—buried deep in the 5,000-page document—a law entitled the Preventing Online Sales of E-Cigarettes to Children Act. It was quickly signed into law by President Trump. The act is commonly referred to by vapers as the “vape mail ban,” but its effects will be much more profound than the prohibition on postal delivery that gave it its nickname.
The Preventing Online Sales of E-Cigarettes to Children Act wasn’t new. It had already passed the House in October 2019 and the Senate in July 2020 in slightly different forms. CASAA issued a call to action for the bill before it passed the Senate in the summer, but few vapers or vaping businesses seemed especially alarmed by the prospect of its passage.
The new law does two things:
  • Instructs the U.S. Postal Service to create regulations prohibiting shipment of all vaping products through the U.S. Mail to residential addresses
  • Inserts vaping products into the Prevent All Cigarette Trafficking (PACT) Act. (The PACT Act is an amendment to the older federal Jenkins Act)
The Preventing Online Sales of E-Cigarettes to Children Act covers a much wider range of products than the FDA’s Deeming Rule, and is unrelated to the FDA’s tobacco and vaping regulations. The definition of products covered by the law is so broad that it captures not just nicotine vaping devices and e-liquid, but anything that can be used to vape any liquid- or oil-based substance (and the substances themselves).

Unlike the relatively relaxed enforcement procedures of the FDA, the ATF is an actual police agency that takes its enforcement mandate seriously.
The postal ban and PACT Act provisions will include all e-liquid and oil vaping devices, nicotine and nicotine-free e-liquids, CBD and delta 8 carts, liquids and oils, and every related component, part or accessory intended for those products.
Following passage of the new law, the major private delivery companies announced that they too would stop delivering vaping products, not just to homes but also to businesses. Fedex will end vape product shipping March 1, and UPS on April 5. DHL had already prohibited shipping vaping and nicotine products in the U.S. before the law passed.
 
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johnlocke

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Well, this surprised me this morning.

I was a long time smoker, but made the transition to vaping years ago. I had stocked up on some supplies in 2020, but thought it was time to order some more.

My favorite little online vendor that I have been ordering from for years has been put out of business in a manner of only a few months. They closed up shop in May, purely because of this nonsense buried in that "Relief Bill." All in the name of protecting the children.

In late December 2020, Congress passed a huge spending package that included a coronavirus relief bill, and—buried deep in the 5,000-page document—a law entitled the Preventing Online Sales of E-Cigarettes to Children Act. It was quickly signed into law by President Trump. The act is commonly referred to by vapers as the “vape mail ban,” but its effects will be much more profound than the prohibition on postal delivery that gave it its nickname.
The Preventing Online Sales of E-Cigarettes to Children Act wasn’t new. It had already passed the House in October 2019 and the Senate in July 2020 in slightly different forms. CASAA issued a call to action for the bill before it passed the Senate in the summer, but few vapers or vaping businesses seemed especially alarmed by the prospect of its passage.
The new law does two things:
  • Instructs the U.S. Postal Service to create regulations prohibiting shipment of all vaping products through the U.S. Mail to residential addresses
  • Inserts vaping products into the Prevent All Cigarette Trafficking (PACT) Act. (The PACT Act is an amendment to the older federal Jenkins Act)
The Preventing Online Sales of E-Cigarettes to Children Act covers a much wider range of products than the FDA’s Deeming Rule, and is unrelated to the FDA’s tobacco and vaping regulations. The definition of products covered by the law is so broad that it captures not just nicotine vaping devices and e-liquid, but anything that can be used to vape any liquid- or oil-based substance (and the substances themselves).

Unlike the relatively relaxed enforcement procedures of the FDA, the ATF is an actual police agency that takes its enforcement mandate seriously.
The postal ban and PACT Act provisions will include all e-liquid and oil vaping devices, nicotine and nicotine-free e-liquids, CBD and delta 8 carts, liquids and oils, and every related component, part or accessory intended for those products.
Following passage of the new law, the major private delivery companies announced that they too would stop delivering vaping products, not just to homes but also to businesses. Fedex will end vape product shipping March 1, and UPS on April 5. DHL had already prohibited shipping vaping and nicotine products in the U.S. before the law passed.

Yeah, I vaped for a long time and am heavily involved in a vape group on FB that has tried to fight this legislatively to no avail from the beginning.

What my associates and friends there have taken to doing is buying separate supplies and making the e-juice themselves. There are relatively simple formulae for the process and you can experiment and make any flavor that suits your fancy.
 

HSanders

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pretty soon that will get stopped too. i'm sure cronyism of some kind will be involved. just like it was with machines that rolled cigarettes. this is how the lovers of big govt roll: fake "capitalism" and fake concern clamping down on free enterprise and things that should be controlled by actual parents, not govt as parent.
 

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And once that is done, they will tax it out of existence.

I am going to have to find a local B&M that carries what I need for juice, but that is going to be difficult.
 

HSanders

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And once that is done, they will tax it out of existence.

I am going to have to find a local B&M that carries what I need for juice, but that is going to be difficult.
i used to buy my cigs cheap mail order from reservations, tax free. govt killed that too. good thing they care so much about native americans ...🤣🤣🤣🤣🤣
 
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