Traders Cooperative

[DragonBits]

I like to debate, but it is also sort of pointless. What I mean by that is that the ecomony and Gov is really quite complicated, we don't have the time or tools to really analyze this. And if we do, so what? It isn't like we have a lot of influence.

But I took a quick look at the study, they use defense spending as a proxy for all Gov spending, and I think that is flawed. I for one don't think we need all this defense spending when no one is going to invade us in this day and age. And having so much military only means it is likely to get used.

And defense spending doesn't help the general economy, I would agree. Infrastuture spending helps. Free or cheap schools help. Maybe tax at a higher rate non-producing activies, that would be a can of worms.

But the USA Gov created and funded the Internet, that seemed like a good thing at the time.

It depends on what they spend money on and it depends on who they tax, and how they tax.

Bottom line for me, is reduced taxes on rich people doesn't result in a better economy, so it is just fair that everyone pay more. Now if taxes get too high, like 70% marginal rates, that also hurts and just causes people to cheat and find ways to avoid taxes.

There is a balance, and the USA has been out of balance, wth the rich getting richer and more middle class losing out.

I went long IWM Aug 77 puts at 1.03, will likely get back out at maybe 20% profit. I put in a sell at 20% profit.