U.S. Politics

[Tommy]

Man, and I may take some heat on this, but I would drop the hammer on non US citizens buying up our land.  You want to buy a vacation home, fine.  You want to rent it out, you are paying a hefty tax.  You want on office building in Manhattan?  Good luck with that.

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They don't want to rent it out most of the time. They don't are. They buy property just to park their money.

[bojanglesman]

I'll fix this debt.  I'll call China and see if I can put $20 on it.  That oughta buy us some time.

[Johnny English]

They don't want to rent it out most of the time. They don't are. They buy property just to park their money.

We have massive issues with that in Vancouver and to a lesser extent Toronto. Vancouver recently enacted a 15% Foreign Buyer tax on all residential property sales despite the real estate industry swearing blind that foreign investors were a tiny part of what was forcing prices to skyrocket, and whaddyaknow? Housing prices suddenly stabilised and then reversed a little.

Now we're going through the same thing in Toronto with the housing market spinning wildly out of control, and the real estate associations telling us that the problem is not foreign speculators but building regulation. Which, of course, begs the question: if there's no issue with foreign speculation, what's their issue with a foreign buyer's tax? Personally I'd implement not just a tax on foreign buyers, but also on vacant properties regardless of who owns them. Right now we have Chinese students buying houses for $2M+ despite no declared income.

[Miamipuck]

They don't want to rent it out most of the time. They don't are. They buy property just to park their money.

This.....

Most of the rental properties are being gobbled up by hedge funds, two totally different buyers.

[Fenwyr]

U.S bonds have very low yields, so even if they don't become taxable, I highly doubt it'll increase the percentage of a company's portfolio is allocated to them. And I don't know what you mean buy "selling to foreign governments". We don't have control over who buys bonds - they're traded on the open market. And the vast majority of holders of U.S debt are U.S investors. Foreign governments make up a fraction. Besides, why does it matter who's buying the bonds?

Low yields are better then little to no yields.  Take the money out of the shadows.

Remember, I am implementing a rule change here.  They can stow this money like a short term version of a 401k.  In this case they are investing in the US, and the return is a guarenteed %, completely safe.

My long term goal would prohibit non US citizens or companies from buying bonds at all.  Now that I think of it, every US citizen should be able to buy bonds pre tax.  It would be a nice alternative to 401k, which depends solely on the stock market.

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[Jumbo]

Low yields are better then little to no yields.  Take the money out of the shadows.

Remember, I am implementing a rule change here.  They can stow this money like a short term version of a 401k.  In this case they are investing in the US, and the return is a guarenteed %, completely safe.

My long term goal would prohibit non US citizens or companies from buying bonds at all.  Now that I think of it, every US citizen should be able to buy bonds pre tax.  It would be a nice alternative to 401k, which depends solely on the stock market.

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That is just about the stupidest idea I've ever heard, lmao

[Fenwyr]

This.....

Most of the rental properties are being gobbled up by hedge funds, two totally different buyers.

JE nailed it.  Tax the ever loving excrement out of foreign investors trying to do this.

A vacant building in any major city drives up rental prices for everyone else.

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[Fenwyr]

That is just about the stupidest idea I've ever heard, lmao

OK fucknuts, care to contribute to the conversation, or did you just need to pull an inane comment out of your derriere?

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[dcm1602]

Low yields are better then little to no yields.  Take the money out of the shadows.

Remember, I am implementing a rule change here.  They can stow this money like a short term version of a 401k.  In this case they are investing in the US, and the return is a guarenteed %, completely safe.

My long term goal would prohibit non US citizens or companies from buying bonds at all.  Now that I think of it, every US citizen should be able to buy bonds pre tax.  It would be a nice alternative to 401k, which depends solely on the stock market.

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Now if they're using this as a short term 401k,won't the United States just need to borrow that money from elsewhere and pay them issues to make up for the inability funds? I don't see this as a solution

[Jumbo]

That is just about the stupidest idea I've ever heard, lmao

Just to elaborate, if you prevent foreigners from buying US bonds you're basically taking away a major source of financing for our current debt (considering the ridiculously low yield on bonds rn, foreigners who buy our bonds are basically giving us a free loan). A lot of Americans wouldn't want to invest in our bonds precisely because the return is so low as well and are gonna invest overseas in riskier countries but ones where they could see a possible return, especially if they have no need/requirement to invest in bonds otherwise

[Fenwyr]

Now if they're using this as a short term 401k,won't the United States just need to borrow that money from elsewhere and pay them issues to make up for the inability funds? I don't see this as a solution

I am going on the assumption they would be parking their money there for more than five years at a time.  I am also going on the assumption that we balance the damn budget at some point.  Since they are low yield, its not going to break the bank when they pull out, and a certain estimation of pulling out would be worked into the budget.

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[Fenwyr]

Just to elaborate, if you prevent foreigners from buying US bonds you're basically taking away a major source of financing for our current debt (considering the ridiculously low yield on bonds rn, foreigners who buy our bonds are basically giving us a free loan). A lot of Americans wouldn't want to invest in our bonds precisely because the return is so low as well and are gonna invest overseas in riskier countries but ones where they could see a possible return, especially if they have no need/requirement to invest in bonds otherwise

If you bothered to follow along, I am talking about a very specific subset of monies.

Money that is being hidden in shelters does nothing but ease the tax burden on those trying to shelter that money.  If anything, they are losing money there as well because it is stagnant.  Why not incentivise them to bring the money home and make a small profit on it?

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[Badger]

But it's not just cutting staff (military personnel), it's the hundreds of defense contractors and sub-contractors that employ millions of people and rely on defense spending. You can't say the same about the Parks Department, etc. Cutting defense spending in half would be a massive blow to that industry, and those people, including the military personnel, would flood the labor market, and most will have to rely on unemployment insurance and Medicare. That'll only drive mandatory spending way up, forcing more cuts.

Nah dude, the free market will fix it. They can all become Uber drivers.

[Johnny English]

Nah dude, the free market will fix it. They can all become Uber drivers.

No but see the problem is that all the Uber and Starbucks jobs are taken already by the gazillion people who did History of Art and Media Studies degrees.

[Badger]

No but see the problem is that all the Uber and Starbucks jobs are taken already by the gazillion people who did History of Art and Media Studies degrees.

But if these people could escape their student debt, they could finally follow their dreams of becoming professional paid protesters.