One of the most disgusting pieces of protectionist legislation I’ve ever seen.
From the APP:
NJ Airbnb users now must pay tax, unless they use a real estate agent
Visitors to the Shore who want to avoid paying a new occupancy tax have a loophole: Find a place to stay through a real estate agent.
Otherwise, guests who book rooms directly from owners through online sites such as Airbnb and VRBO are scheduled to begin paying a 5 percent tax on Oct. 1.
“Since 50 percent of bookings are direct by owner, it’s going to affect a large part of the Jersey Shore,” said Duane Watlington, owner of VRLBI.com, which has more than 800 listings on Long Beach Island.
The law signed by Gov. Phil Murphy will force owners who put their homes, or rooms, up for the short term to collect the state’s 6.625 sales tax and 5 percent occupancy tax. Municipalities also can collect taxes of up to 3 percent.
It’s a bid by government agencies to adjust to the digital age that is disrupting long-standing businesses.
…
“They’re acting like hotels, they should be paying the same tax,” said Marilou Halvorsen, president of the New Jersey Restaurant and Hospitality Association, a trade group that represents hotel and motel owners.
…
The New Jersey Division of Taxation was still finalizing the rules late Friday to ensure the tax would be applied specifically to to online sites like Airbnb.Still, the department said homeowners who rent their property directly to consumers by word of mouth still would have to collect the tax because federal rules prevent state and local governments from discriminating against electronic commerce.
fRiSt
almost first
thrist twice in a row!
That’s incredible lw!
Recall ROFLMAO as a client attorney on one of these financings recounted one of these negotiations. Some POS ambulance chaser suing for seven figures for bedsores, they literally pushed the keys to the facility across the table and told the attorney that the receptionist changes over at 8a and please make sure the desk is staffed. Keys kept getting pushed back to him until he negotiated himself down to 5k, lol.
That reminds me of RE school back in the 80’s when I learned what a deed was. It is a unilateral contract that only requires the signature of the owner to transfer ownership. Anybody who owns real property can just write up their own deed and transfer it to anyone else, without anyone else knowing about it. The law does, however, protect “in-the-dark” owners from having liability properties foisted on them without their knowledge (think large unpaid tax bills).
Now the race begins. Confirm Kavanaugh before 60 Minutes airs on Sunday.
I wonder how many years of Secret Service protection will by required for the Kavanaugh family?
Wait until 1:30PM and then buy EQT. No insider trading info, I just know that it is the best time of day to go long.
Rumors no more about SuperMicro…
The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies
https://www.bloomberg.com/news/features/2018-10-04/the-big-hack-how-china-used-a-tiny-chip-to-infiltrate-america-s-top-companies
The Dems should have pulled this Kavanaugh stunt back in August. If they had and it blew up in their face, which it looks like this is going to do (re-energize the right), they’d have had more time to do damage control.
How have we not sanctioned Supermicro?
Grim – Obama cut a deal…..no scandals remember….
Grim – More interesting was the rumor about the chips used in our weapons. The conclusion under the Obama Admin was that maintaining a DoD-owned “foundry” to make its own microchips “ was not a feasible expense.”
How they came to the conclusion that this was something we cannot afford to do as in cost is beyond the pale for the politicians and the military industrial complex.
Reminds me of the old stories about old military tech that continued to use vacuum tubes, despite the widespread availability of silicon based transistors/ICs, because tubes could continue to function when exposed to high radiation and the EMP associated with nuclear explosions, and where silicon-based circuits would not.
Grim – Ala Battelstar Galatica, no networked computers.
IBM Series/1 Computer and 8 -inch floppy disks to launch the nukes..and god help us supposed to be upgraded…
https://www.newsweek.com/trump-nuclear-bombs-north-korea-floppy-disks-648874
Back to housing, to go along with wage inflation. Mortgage rates expected to rise.
https://www.washingtonpost.com/business/2018/10/04/mortgage-rates-retreat-bit-are-expected-resume-rising/?noredirect=on&utm_term=.8b8536022cc0
Grim, Supermicro was a victim here as well. As a huge manufacturer of Servers, they will lose tons of customers over this. It seems it was a contract manufacturer in their supply chain.
“Libturd…look me up in Costa Rica says:
October 3, 2018 at 12:47 pm
Ten-year at 3.13 and VIX pretty much at its record low.
Grim says:
October 3, 2018 at 3:41 pm
Go long vix?”
VIX is up 21.19%
Now that’s a mother-fckuing call!
Grim, Supermicro was a victim here as well.
They are liable for the actions of their supply chain, they should not only be held accountable, but made an example of. Impossible that they did not know, if it happened the designers at Supermicro were directly involved. Immediately cease sale of all products in the US, including any products currently in the hands of distributors and retailers. Given the current trade situation, the timing couldn’t be better.
Re: The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies
This is what the freemarketer nutjobs (from Kochs to Fast Eddie), including outsourcers (looking at you Grim) don’t get. It’s human nature to rig it your way. Just like big business prefer to outsource manufacturing. Those places that outsourcers go to initially will play nice, but with time will rig it to their advantage.
This is why, if there is a war with China/Russia. Expect all outsource out of US phone/computer based customer service to fail.
To a certain extent, PumkinPotato head is right about wage inflation.
Wage Inflation = Less legal/illegal immigration + Millenials not having kids + Tariffs makes cheaper building in US – but low and behold no people + Big Business realize that their free ride in globalization is over (if tariffs don’t get you, intellectual property theft or Trojan horses will)
“One of the most disgusting pieces of protectionist legislation I’ve ever seen.”
From a policy perspective, this is eminently reasonable. I don’t like it either but it is not unfair.
So much of new “disruptive” business these days is about flipping off TPTB and telling them to “catch me if you can.” With Uber or AirBnB, you are running a cottage industry and evading taxes. No two ways about it.
TPTB are fighting back, not in a protectionist way but in a leveling of the field way. What I find amazing is that the disruptors have either so little knowledge concerning compliance or so much contempt that they keep getting nailed and howling about it–ironic since they are almost always universally liberals and statists about everything else.
Not aRandian Nuttjob,
Waaa… waaa. Get a job. Make money. Be a f.ucking man and not a p.ussy. If you have to drive a dump truck, shovel sh1t or deliver packages, do whatever it takes to provide. That’s what men do. P.ussies whine, men work.
This is why, if there is a war with China/Russia. Expect all outsource out of US phone/computer based customer service to fail.
Also, please learn to write correctly. Fix your grammar errors.
31% on the vix.
1:24 I love it when you overcompensate. You are so yummy.
I have great admiration for Ayn Rand. When she was alive, she was in favor of free markets, but she was also very much against trading with the enemies of the US, and of punishing countries that were individual rights violators, given that individual rights were the foundation of her economic/political theories. So she was a big opponent of agricultural (or any) trade with Russia for example. The whole opening up of the US/China relationship was playing with fire, and it has been supported by both parties. I have no doubt that were Ayn Rand alive, she would be more concerned about trade with China than either major political party has been. Nixon, Kissinger, Clinton. I’d say they’ve been the most influential at pushing the US/China trade gap. It was under Clinton that “most favored nation” status became normal, and then it was under him in 1999 that the negotiations and agreement for China to enter the WTO occurred.
There are political theorists who imagine that commerce will change the politics and beliefs of a country. That if Chinese could just buy Levis, drink Coke, and eat McDonald’s, then they’d magically start improving politically. Ayn Rand always argued that philosophy (ethical beliefs of a culture) are the driver of politics, and thus I think would have rejected such arguments in favor of “engagement” with China, just as she rejected the constant cry from leftists for “détente” with the USSR during her lifetime.
So anyway, there are plenty of people to blame for allowing China to expand to become a large global economy all while being run by rights-violating Communists, but Ayn Rand herself is not one of them.
Amazon says it never happened, lets see if Bloomberg doubles down.
https://aws.amazon.com/blogs/security/setting-the-record-straight-on-bloomberg-businessweeks-erroneous-article/
It always amazes me how people can’t fathom how an economy of 300 million people (the US) could function just fine internally for the most part without the need for international trade. One wonders how a nation that was 100 years old became richer than European nations that had a 2000 year head start on infrastructure.
Fast, I believe in hard work, but only a Homer Simpson type doesn’t question or complain when the system is rigged in front of you.
Also, you whined about Obama for how long?
Fast Eddie says:
October 4, 2018 at 1:24 pm
Not aRandian Nuttjob,
Waaa… waaa. Get a job. Make money. Be a f.ucking man and not a p.ussy. If you have to drive a dump truck, shovel sh1t or deliver packages, do whatever it takes to provide. That’s what men do. P.ussies whine, men work.
This is why, if there is a war with China/Russia. Expect all outsource out of US phone/computer based customer service to fail.
Also, please learn to write correctly. Fix your grammar errors.
Amen!
The free market is sound in theory, but a joke in reality. It only makes the rich richer and the working man poor.
Blue Ribbon Teacher says:
October 4, 2018 at 3:47 pm
It always amazes me how people can’t fathom how an economy of 300 million people (the US) could function just fine internally for the most part without the need for international trade. One wonders how a nation that was 100 years old became richer than European nations that had a 2000 year head start on infrastructure.
400 people own 2.9 trillion. 45 people own half of the 2.9 trillion. Disgusting.
https://patch.com/new-jersey/wayne/s/giwv7/5-nj-billionaires-on-forbes-list-of-richest-americans?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert
One of the biggest holes in free-market economic theory is the lack of an explanation for how a low-grade moron like Pumpkin manages to remain employed as a “financial analyst”. Perhaps there’s a non-economic explanation. Downlow with his boss? Photos of his boss?
Come on, No One. Be kind to Pumpkin. He has a rare genetic ability, that makes him great as a financial analyst, and his employer’s name if you can keep a secret starts with the orangeprez last name and add Organization.
Is a very rare genetic thing, that gives him an edge as a financial analyst. When he gets to work, he takes off his shoes and start adding up all those toes to work out the financial alchemy of the Trump Organization.
Take a look https://youtu.be/iXJ8YdRR054
The explanation is that he is a lying, man child with cold, alpha wife who laps him in salary while supplementing their income with Granny’s gift equity. He toils in mail room or perhaps security guard at my office. That guy is on his phone all day and never checks a badge. I have thought ‘Blumpkin’ several times.
Low grade moron? I’m prob doing better than you at the age of 38, and I was in a much more unforgiving economy. Low grade morons get wage inflation correct 6 years in advance when morons like you said it would not happen. When I do a job, I do it well.
No One says:
October 4, 2018 at 5:23 pm
One of the biggest holes in free-market economic theory is the lack of an explanation for how a low-grade moron like Pumpkin manages to remain employed as a “financial analyst”. Perhaps there’s a non-economic explanation. Downlow with his boss? Photos of his boss?
Bystander,
Follow the logic. Are hot alpha females attracted to losers? Once in a while a loser gets lucky, but this wasn’t the case.
Why are Apple and Amazon taking this position? I highly doubt a writer from Bloomberg is pulling this out of their a$$.
Juice Box says:
October 4, 2018 at 2:26 pm
Amazon says it never happened, lets see if Bloomberg doubles down.
https://aws.amazon.com/blogs/security/setting-the-record-straight-on-bloomberg-businessweeks-erroneous-article/
Hot alpha chicks dig projects and robust wieners.
Bada biiiing
Pumps – national security letter, they have to deny.