Economists with Goldman Sachs say the U.S. economy would likely perform better under a Kamala Harris presidency than if Donald Trump returned to the White House
The Goldman Sachs economists are not alone in their assessment about Trump’s policies. In June, a group of 16 Nobel Prize laureates wrote an open letter saying they are “deeply concerned” about the risks a second Donald Trump presidency would have for the U.S. economy
I have been thinking about the Covid messaging because we just passed 9/11, a day when I reflect on themes like national crisis, unity, service, and honoring people whose lives were lost and people who helped others in a crisis.
I represent health care workers in litigation. As I reflect on the messaging from our presidents during 9/11 and Covid, the differences are stark.
The word hero was used so frequently during 9/11 that its meaning changed. It became synonymous with first responders, and it became stolen valor to call anyone else a hero. I know this because in my tri club, we had jokingly called each other heroes when we won races. We couldn’t do that in good conscience after 9/11. America recognized the selflessness of first responders and immediately supported them.
As I defend lawsuits against healthcare workers for events during Covid, I am reminded of the incredible lack of support they received. Not only did Trump refuse to wear a mask and show solidarity with healthcare workers, but his rhetoric encouraged violence against them. In response to violence directed against them, hospitals posted signs to inform people that violence against healthcare workers was unacceptable. Remember how the MT AG Austin Knudsen sent sheriffs to a hospital to force healthcare workers to give a patient ivermectin? Holy fuck!
Trump’s Covid failures are legendary. The trauma inflicted on healthcare workers, patients, and patient’s families are still playing out in litigation. Yesterday at work, I looked at evidence of harm caused by Trump’s mismanagement.
It blows my mind that Trump is currently inflaming MAGA against immigrants with the lie that they’re eating pets. Multiple schools had to shut down last week because of threats against the students and staff due to Trump’s lies and immigrants eating pets.
How anyone can overlook this and feel support for Trump is beyond me. It is unconscionable. It is such an enormous moral failing.
They both have horrible plans. You raise taxes on the corporations and they just find more loopholes and/or pass the cost on to the consumer (raising prices/cutting jobs). We saw how happy everyone was to raise prices, blame inflation, and report record breaking profits (tell me how that works out). We need lower taxes with fewer loopholes to encourage compliance, instead of asking a few corporations and the public to carry the load. It will never work unless everyone is contributing some. Imagine if everyone actually paid in and we stopped spending money we don’t have. Taxes make no sense as it stands. Somehow the federal government pays me more than I pay them because I have (2) kids, but I’m settled down and comfortable with a good job. I leverage that to contribute more to my retirement fund because I know they’re spending my social security money I’ll probably never see. Before I was comfortable they were sucking me dry. You give people stuff and they’ll always complain it’s not enough and they need more, even when it’s “free”.
I wish wonkish analysis of tax plans was a concern for me. Oh the heady days when the GOP star was Paul Ryan and his detailed economic analysis. He exited stage left as soon as he saw what was coming.
I’m stuck at “batshit crazy” vs. “somewhat sane.”. Laffer curves and what not on the backburner.
Enforcement also helps here - the recent IRS programs have gotten back a good chunk from people who have straight up not filed taxes (let alone underreported). The fact that we have a system where you have to file taxes (vs having the IRS calculate what you owe), is itself an issue (thanks Intuit, etc.) but that seems even less likely to change than a meaningful simplification of our tax code.
That’s all a good point. I have my exemptions set with my w4s so I pay what I am supposed to, but I don’t understand why that’s not just the standard to begin with. Take the money before they see it and they’re more likely to pay than to ask for it later on. I hate taxes, but I understand they’re necessary. Even like you said with intuit, the fact there is business in filing alone is wild to me.
I tend to agree that there are lots of loopholes for corps and high earners that should be closed. I like that Congress, and Biden, funded more enforcement to slow the exploitation of those loopholes.
At what point in recent history did you think Corporations contribution to the revenue base was “about right”? I am unsure what the correct level is but right now it is historically low.
As for Harris, she might have some ideas but it is Congress that really writes and passes the budget. If the GOP still controls Senate I expect loopholes to remain.
Which is it what? I have my w4 set for my exemptions and they calculate I pay $0 federal (outside of overtime and bonuses) because the child tax credit pays me more than I’d pay in for taxes; and I still get a tax return. The context of what I was stating was that I set my exemption on the w4 per what the government says I’m supposed to pay, rather than just paying extra at no exemptions to give the government a free loan. Rather than blow a tax return every year, I just beef up my retirement contributions with that extra money in my pocket.
I think the problem more so lies that we’ve never seen so many corporations with footprints as large as they are now. We have so many powerhouse companies within the SP500 like Alphabet (Google), Apple, Microsoft, Amazon, Walmart, and such. In my town over the last decade even the auto body shops and dentists offices are being swallowed up by larger corporations acquiring them. A lot of stuff in America can be traced back to a handful of corporations.
You raise very valid point. The lack for real competition in the US economy is a major concern of mine. It is bad for consumers and long term it is bad for the economy. Biden and Harris agree but Lina Kahn has found out that actually doing something is much harder than anyone expected.
There was a recent article about how hard it is to not indirectly use an Amazon product if you were to try a personal Amazon boycott. There are like 66 million Web sites on AWS. Netflix is on AWS.
I spoke recently with an AWS insider, and it was kind of scary. He said Amazon is not a retail product delivery company or a cloud computing company. It’s now a fiber-laying company. They’re laying massive amounts of fiber all over the world, so much that it could end up rivalling the fiber used for the public internet. This is so everything on AWS gets to bypass the public internet. Which has amazing benefits for AWS customers.
But it’s a bit scary that Amazon could control the bulk of information flow and information storage around the world in the not-all-that-distant future.
Depending how turtles all the way down you go, a lot of services that other companies use are hosted on AWS even if the main product isn’t an AWS itself.
If you’re trying to avoid Alphabet/Amazon/Microsoft, well, good luck!
And beyond this… they’re getting their foot in the door with healthcare/pharmaceuticals. Seems like their trick is to spread to as many markets as possible so it’s hard to classify them as a monopoly, while they become just that.
Actually very little of Netflix traffic is on AWS, they mainly use them authentication not traffic delivery. Most Netflix traffic originates on their open connect platform.
If your concern is monopolies and market power, you should support Harris. Trump was much weaker than Biden on antitrust enforcement. And Harris has said antitrust enforcement will be a priority.
Don’t think so. Unless in the last year or so Netflix somehow built out a cloud computing architecture comparable to AWS and seemlessly transitioned to it.
I think you must be referring to the “last mile”. The core of Netflix is AWS. They helped AWS pioneer things like Kinesis and Lambda. And the magic caching that pushes the right sets of movies out to the OCAs.
Netflix own CDN and those OCAs allow Netflix so stream a lot of the actual movie content off the AWS networks, but it’s far, far more than “authentication” with AWS.
No, the vast majority of Netflix’ traffic is exchanged directly with ISPs. In some ISP networks they have installed caches and others they have PNIs. In many they have both. Netflix traffic coming off AWS is tiny in comparison.
No, the vast majority of Netflix’ traffic is exchanged directly with ISPs
You’re repeating what I just said, essentially, just putting “No” in front of it. And then just describing back to me what I just posted as an image. Movies are pushed out to the OCAs. The code that makes Netflix what Netflix is, is on AWS, and it’s far more than “authentication.” S3 storage, database, caching, analytics, recommendation algorithms, video transcoding. Pushing out new OCA builds. AWS.
True the last mile - ISP-to-home - is not on AWS typically for the actual movie stream. But you’re still going through AWS to access the “app.”
