calbear93 said:

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As I mentioned, you are a drain, killing any serious conversation with your lack of curiosity and knowledge.

Carry on.

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I'm advising myself, what would Jesus do?

I'm sorry you're having (another) bad day.

Unit2Sucks said:

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In 2016 I could have paid cash for a car but was offered 0% interest for 5 years so I took it. No-brainer.

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i presume you asked them to knock money off the sales price if you paid cash.
They said no?

calbear93 said:

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My life lessons to my kids were about not using debt to think you can afford some consumable / disposable want.

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This is the anti-Trump advice about debt.
Then again, you're presumably also not into generating a riotous horde who you can manipulate to overthrow the government while you bilk your corporate investors but sit outside of Justice as a reigning dictator.

Debt can be a gamble that pays off or not. Last year I had an 8% heloc for about 6 months while I carried 2 primary residences. It was mentally killing me to pay that much interest. I could have sold stock and paid it off. That would have involved capital gains taxes and having those funds out of the market. I gambled on the debt. In that period, the S&P 500 went up about 18%. So I won that time. The important thing is to not take on more than you can afford. That is extremely hard / impossible when you have low income. I've lived it. Sometimes debt is from reparing a car with a credit card so you can get to work. It is expensive to be poor.

Simple rules often clash with the real world. And most people are bad at personal finance.

concordtom said:

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Unit2Sucks said:

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In 2016 I could have paid cash for a car but was offered 0% interest for 5 years so I took it. No-brainer.

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i presume you asked them to knock money off the sales price if you paid cash.
They said no?

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There's a short answer and a long answer. Short answer is no.

Long answer is that dealers often make money selling you financial products. That's why even when you pay cash you still have to go sit in the finance guy's office while he tries to sell you extended warranties, etc. They get kickbacks from lenders so offering to pay cash may make your sales guy happy because it reduces uncertainty, it doesn't necessarily make the dealer more money.

The relationship between dealers and lenders is, like most finance things, complicated. Dealers don't finance your car loan, they largely act as an agent for those that do. Sometimes those agents are captive to the brand that they are selling (think GMAC back in the day) and sometimes it's just a partnership (Subaru finances through Chase). Occasionally you will see an offer like "2.5% financing or $500 cash back". When that happens, it's cheaper to pay cash. Other times you will have a dealer say "I can't hit this price unless you finance but don't worry, you can pay it off after a month." I did that once in order to get a better deal.

GMAC is a great example of how complicated this stuff works. It was originally (100 years ago) just the finance arm of GM for people buying cars. It morphed into something much larger and was spun off, at some point being much more valuable than GM itself. Cerberus invested before the GFC, and GMAC began buying up mortgages. It eventually became a bank and is now Ally Financial.

So this summer when I bought my car, I didn't ask if it was cheaper if I pay cash, I ask if it would be cheaper if I financed. It wasn't, so I wrote a check.

Excellent post!
But then, I know you always produce quality no matter what's the topic.

Quality posters abound!

calbear93 said:

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I gave you a detail description of the discussion I had with thought leaders from SV, and you ignored it and moved on to irrelevant class war discussion. So, if all you want is a class war discussion and, despite your veneer, don't really care about AI, then do something in your personal life.

Otherwise, you provided no response to me mistakenly taken you seriously about AI and the dystopian society.

If you want to be taken seriously, have a serious discussion. Be a fountain of ideas, and not a drain

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Agreed 100%.
I shared a research report on Ai from Goldman Sachs that Tom didn't even bother to read.
His idea of research seems to be at the level of posting a video of Jon Stewart.

He's making an assumption that Ai will consolidate wealth, but I don't know if that's necessarily true and I'm not smart enough to figure that out. Advances in technology have always lead to less jobs . You don't have to wait for the advent of Ai to see what may happen given that automobiles are largely made by robots these days.

This Forum is a big enough time suck as it is.
That's why I went on a 6-month hiatus and when I came back, I did so just posting a few times a week.

You are 100% right in stating that many people here would be much better citizens when it comes to the social contract if they took 1-hour from posting in this cesspool and committed their time to working at an animal shelter or with at-risk youth after school.

Tom acts like a child when he has no one to "play" with.
Ever notice that?

Sorry Tom, I posted this thread because it's tax time and could lead to an interesting discussion.. It had nothing to do with me and my "trading" profits as you claim. You might want to back away from the keyboard and get some fresh air or help some under-served youth in your community.

Posting 25X a day starting at 5:28 AM isn't much of a life.
In similar vein, you share a lot with Bearfarce.

Enjoy!

DiabloWags said:

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In similar vein, you share a lot with Bearfarce.

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No way, Bearforce2 is prettier than Tom.

What really shines through is that you're angry and come here to pick fights.

When it eats you up, you wisely leave.
But now you're back.
Addictive behavior works that way.

I could pick apart your assertions which I contest as untrue and inaccurate. But I'm moving on with only saying that - things you've asserted are not necessarily so.

2/3rds vote being put on the November ballot.

California Businesses Take On Gavin Newsom Over Tax Hikes - WSJ https://www.wsj.com/us-news/california-business-taxes-governor-newsom-e24f80ce

Gov. Gavin Newsom trying to get a handle on a massive State budget deficit that keeps increasing every month and will likely extend into next year.

Last Thursday, the legislature approved $17 Billion in spending cuts.

The current budget deficit estimate by the nonpartisan Legislative Analysts Office sits at $73 Billion, as of February. That's up from $58 Billion in January.

concordtom said:

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I have introduced the posit that AI will increase wealth mainly for a select class of Americans and therefore questioned whether tax policy should be considered.

I'm guessing you made some short term trading profits but just wanted to rant about your coming tax bill, and not really interested in the myriad branches of the subject you raised.

Good luck.

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You've made an ASSUMPTION that Artificial Intelligence will automatically lead to massive wealth creation in the hands of a select few. Im not comfortable with that assumption.

For example, in the coding space the productivity gains are enormous. But I'm not seeing REVENUE GROWTH ACCELERATION at some of the big companies that many people expected to show results from first (cause of Ai applications) like Salesforce, Adobe, and Autodesk

Have you seen accelerated revenue growth that Im not aware of?

If so, where?

I have read that over 90% of video AI has been used to falsely implicate young women in sex acts. If so, AI is off to a great start (sarcasm).

DiabloWags said:

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concordtom said:

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I have introduced the posit that AI will increase wealth mainly for a select class of Americans and therefore questioned whether tax policy should be considered.

I'm guessing you made some short term trading profits but just wanted to rant about your coming tax bill, and not really interested in the myriad branches of the subject you raised.

Good luck.

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You've made an ASSUMPTION that Artificial Intelligence will automatically lead to massive wealth creation in the hands of a select few. Im not comfortable with that assumption.

For example, in the coding space the productivity gains are enormous. But I'm not seeing REVENUE GROWTH ACCELERATION at some of the big companies that many people expected to show results from first (cause of Ai applications) like Salesforce, Adobe, and Autodesk

Have you seen accelerated revenue growth that Im not aware of?

If so, where?

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Technologies often lead to improved efficiency, productivity gains.
Those who control the technology get more of the gains.
Those without can't keep up.

It's like the whole urban/rural thing. Those who don't have internet get left behind.

We can agree to disagree. I just think there's an axiom about wealth concentration and technology.
There is a study about how they give each kid in the class $5 and eventually most kids end up with zero while a couple have the lion's share. It happens over and over. Technology or not.
We don't want a society where 80% of the kids have nothing.

You didn't answer my question.

I clearly asked you for EVIDENCE of accelerated revenue growth from AI.
You failed to provide anything of specific substance.
Zero evidence to support your claim.

DiabloWags said:

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You didn't answer my question.

I clearly asked you for EVIDENCE of accelerated revenue growth from AI.
You failed to provide anything of specific substance.
Zero evidence to support your claim.

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Uh….
If company leaders don't make business decisions to accelerate revenue growth, then what the hell are they doing?
That's Job One! Grow profits!

You want me to get inside companies and provide you with a case study example of how AI is going to grow revenues?
Uhmmmm. I think I'll pass, and just say

If companies implement the new technology it's because it's a + for mission 1, not a -

You know this, so I don't really understand you here.