For a president who believes in "Trickle down economics" has failed...tell that to hourly wage workers...

[Oddball]

Your understanding of "trickle-down" is limited.....

Just using the term "trickle down" shows the user of it to be a complete ignoramus.

 

[Libby von H]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

For a stupid President using MMT theory (almost universally panned) he would of course say that.

 

[Libby von H]

Just using the term "trickle down" shows the user of it to be a complete ignoramus.

Well, no , wealth either goes up or it goes down., Every modern Economomics has a Circulation Theory

Circulation economics encompasses everything related to production, distribution, consumption and redistribution of goods and services. This means that the most efficient solution to a problem facing one company can be found in cooperation with one or more actors in a different part of the circular value chain.

 

[Libby von H]

Well, no , wealth either goes up or it goes down., Every modern Economomics has a Circulation Theory

Circulation economics encompasses everything related to production, distribution, consumption and redistribution of goods and services. This means that the most efficient solution to a problem facing one company can be found in cooperation with one or more actors in a different part of the circular value chain.

Computers used to be so expensive only the very rich could buy them, and they did, and that lowered the price and the result trickled down as with almost any material innovation in my lifetime. Not working with EVs because only fools by EVs . Without subsidies to the producers, subsidies to the purchasers, and laws against competitors, Biden's EVs would be sht on a rust pile

Electric Vehicle Sales Plunge Across Europe as Demand ...​

1 day ago — Electric vehicle (EV) sales plunged across Europe in March as demand dried up despite the E.U.'s push to ban petrol and diesel vehicles by ...

 

[Dadoalex]

Just using the term "trickle down" shows the user of it to be a complete ignoramus.

So Republicans are "complete ignoramus?"

 

[Dragonlady]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

More of the bullshit "sky is falling" garbage from one of our resident "flat earthers".

Wages are reduced by migration when there is an EXCESS of workers. You have workers shortages in virtually EVERY low wage industry in the nation.

 

[Oddball]

So Republicans are "complete ignoramus?"

You definitely are, to go with being an extremely poor poseur.

 

[Oddball]

More of the bullshit "sky is falling" garbage from one of our resident "flat earthers".

Wages are reduced by migration when there is an EXCESS of workers. You have workers shortages in virtually EVERY low wage industry in the nation.

Which is why the "migrants" er "newcomers" er invaders are having riots in NY because they aren't getting enough free shit....Because they're so self-sufficiently industrious and shit.

 

[task0778]

Trickle-down economics and its policies employ the theory that tax breaks and benefits for corporations and the wealthy will trickle down and eventually benefit everyone. As more money remains in the private sector, business investment may be triggered with new factories, upgraded technology, equipment, and an increase in employment. The corresponding increase in the labor market leads to more spending and investing, creating growth in industries such as housing, automobiles, consumer goods, and retail. And the resulting boost in the economy leads to tax revenue increases and according to the trickle-down economic theory, the additional revenue will pay for the original tax cuts for the wealthy and corporations.

What Biden and the democrats want is different; they want a high-tax, big gov't that invests in social programs that do not an adequate return on their investments. We don't get the higher economic growth under their theory (see the Obama years GDP). And income inequality wasn't improved but the big corps and the wealthy got richer anyway. People should look at what happened to Sweden during the 70s and 80s for a lesson in what works and what doesn't.

 

[sealybobo]

I'm not "you guys", lying asshole....And that chart proves nothing.


View attachment 934517

Then I know how Trump won you over. He was the only one who admitted Bush sucked.

“When she first got in and was named speaker, I met her. And I’m very impressed by her. I think she’s a very impressive person. I like her a lot. But I was surprised that she didn’t do more in terms of Bush and going after Bush. It was almost – it just seemed like she was going to really look to impeach Bush and get him out of office, which personally I think would’ve been a wonderful thing,” Trump told Blitzer in the interview.


“Impeaching him?” Blitzer asked.

“Absolutely. For the war. For the war,” said Trump, referring to the 2003 invasion of Iraq. “Well, he lied. He got us into the war with lies, and I mean, look at the trouble Bill Clinton got into with something that was totally unimportant and they tried to impeach him, which was nonsense. And yet Bush got us into this horrible war with lies. By lying. By saying they had weapons of mass destruction. By saying all sorts of things that turned out not to be true.”

Asked about the remarks during a presidential debate eight years later, Trump said, “you do whatever you want – you call it whatever you want,” and reiterated his belief that the Bush administration lied.

If you are a Republican but didn't like Bush, no wonder you love Trump. Now I get it.

 

[Concerned American]

Which is why the "migrants" er "newcomers" er invaders are having riots in NY because they aren't getting enough free shit....Because they're so self-sufficiently industrious and shit.

Get Dragonlady's address in Canada and send a busload of them to live and be supported by her and watch how eager she is to give money to them as the invade her country.

 

[Augustine_]

If not for libs who hate fossil fuel America could produce all the oil and gas we need

Here, you dumb fucking idiot: U.S. Producers Break Annual Oil Production Record

 

[marvin martian]

Yep...

You Orange God got Oil prices increased... Wasn't Biden...

You were sold one big lie... It doesn't really matter how much Oil US produces, OPEC is controlling the supply globally...

US Oil companies can ship US Oil any major port on the planet for <1c a gallon...

China Tariff War Revisited: U.S. Exports Of Oil Surged In 2023

U.S. exports of soybeans to China, an early casualty of the trade war initiated by former President Trump and continued by President Biden are up 386% since 2018.

www.forbes.com

Get it.... Trump did this... What you are complaining about, why can't Biden fix Trump's mess quick enough...
Big Problem, Trump did this and then threw away all the bargaining chips..

No one outside your tiny cult believes that.

 

[marvin martian]

Here, you dumb fucking idiot: U.S. Producers Break Annual Oil Production Record

Joe Biden: Drill, baby, drill!

 

[Mac-7]

Here, you dumb fucking idiot: U.S. Producers Break Annual Oil Production Record

Why do lbs always have to throw personal insults?

 

[Augustine_]

Why do lbs always have to throw personal insults?

I balanced it out by educating an ignorant person

 

[Concerned American]

Why do lbs always have to throw personal insults?

That is all they have.

 

[healthmyths]

Over the past 3 years working people lost all their wage increases plus another 2.5% to Biden Inflation. Workers wages have gone BACKWARDS under idiot Biden and Dem policies.

FACTS to support your comment...

The mass US layoffs of the past few years are continuing. In 2024 alone, thousands of workers across many sectors, including media and technology, have lost their jobs and are on the hunt for new ones. But some are finding an unwelcome surprise as they scan listings for open roles. A salary bump is all but impossible; in many cases, wages seem lower than their previous pay – even for the same jobs.

They aren't imagining things. A 2023 report on pay trends from ZipRecruiter showed 48% of 2,000 US companies surveyed lowered pay for certain roles.

There is now less competition to hire workers – and therefore less need to boost wages," says Nick Bunker, US-based director of North American Economic Research at Indeed.
"Job postings have dropped quite a bit, while the supply of workers has grown."
At its peak in early 2022, US wage growth for advertised roles climbed to 9.3% year-over-year, according to Indeed data. It has fallen precipitously ever since, as demand for workers has slumped. By January 2024, it had plummeted to 3.6%. The downward trend continues, and it's unclear when it will reach the bottom.

US salaries are falling. Employers say compensation is just 'resetting'

Salaries for new roles are stagnating – and in some cases, falling. Some employers may be looking to cut costs, but the lack of wage growth may be a matter of post-pandemic correction.

www.bbc.com

"Bidenomics" at play!

 

[Dogmaphobe]

The Democrat economic policy should be called "flow up". Every move they make ensures more wealth and control lies in the hands of the technocrats.

 

[healthmyths]

Trickle-down economics employs policies that include tax breaks and benefits for corporations and the wealthy that trickle down to benefit everyone.

Trickle-Down Economics: Theory, Policies, Critique

Trickle-down economics employs policies that include tax breaks and benefits for corporations and the wealthy that trickle down to benefit everyone.

www.investopedia.com

NOW I know from work experiences for a yacht manufacturing that all the workers in this business really enjoyed the benefits that the wealthy paid when they bought yachts!