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

[Concerned American]

I'm sure UAW membership will be wonderful for those VW workers.
Just like the USW worked for US Steel workers.

Or the UMWA worked for the coal miners.

 

[Concerned American]

In 1900, there were about 4,000 millionaires or 0.01% of population in the United States of a population of 76,330,000
https://www.cnn.com/2023/09/25/investing/premarket-stocks trading/

Versus a growth of In 2022, 22,710,000 millionaires or 6.7% of total population.

A growth rate of the population of 338% or from 76.3 million to 334.2 million
A growth rate of millionaires from 4,000 millionaires in 1900 to 22,710,000 millionaires in 2022 or
(22,710,000 - 4,000 in 1900)/4,000 or 567,550%
So "trickle down" economics has contributed to almost 600,000% INCREASE in Millionaires !
Oh I'm sure inflation has affected that as in 1900 $1 million would buy what $38 million would be needed to buy
what $1 million would buy in 1900 or a 3,700% inflation over the 124 years.

View attachment 934921

This line of thought sounds wonderful, but the fact of the matter is a million dollars today is not what a million dollars was one hundred years ago. One million 1924 dollars is roughly 17 million dollars now so for your assertion to hold water you would have to calculate how many people are worth $17M today. I think that percentage would be greatly reduced from your graphs.

 

[Smokin' OP]

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

BS.
It was the teabaggers who put US oil on the world market.

Congress Passes U.S. Spending Bill to End Oil Export Ban​

Bloomberg
https://www.bloomberg.com › news › articles › house-pa...
Dec 18, 2015 — Congress passed a $1.1 trillion spending measure that averts a U.S. government shutdown and ends a 40-year-old ban on crude oil exports, ...

Congress kills U.S. oil export ban, boosts solar, wind power​

Reuters
https://www.reuters.com › article
Dec 18, 2015 — The U.S. Congress voted on Friday to repeal the 40-year-old ban on exporting U.S. crude oil in an energy policy shift sought by Republicans ...

 

[Mac-7]

BS.
It was the teabaggers who put US oil on the world market.

Congress Passes U.S. Spending Bill to End Oil Export Ban​

View attachment 934926
Bloomberg
https://www.bloomberg.com › news › articles › house-pa...
Dec 18, 2015 — Congress passed a $1.1 trillion spending measure that averts a U.S. government shutdown and ends a 40-year-old ban on crude oil exports, ...

Congress kills U.S. oil export ban, boosts solar, wind power​

View attachment 934927
Reuters
https://www.reuters.com › article
Dec 18, 2015 — The U.S. Congress voted on Friday to repeal the 40-year-old ban on exporting U.S. crude oil in an energy policy shift sought by Republicans ...

I dont pretend to know all the ends and outs of the oil market

We also import oil from mexico and canada to offset what we sell

Right now the euros need oil to replace what they arent getting from russia

So its not s simple question

 

[Smokin' OP]

I dont pretend to know all the ends and outs of the oil market

We also import oil from mexico and canada to offset what we sell

Right now the euros need oil to replace what they arent getting from russia

So its not s simple question

But you provided a simple answer.
If it weren't for the "Libs".

 

[Mac-7]

But you provided a simple answer.
If it weren't for the "Libs".

I will stick to that answer as long as biden and the greenies pulling his strings are in charge

But the problem of lib obstruction goes back decades and didnt begin with him

 

[Smokin' OP]

I will stick to that answer as long as biden and the greenies pulling his strings are in charge

But the problem of lib obstruction goes back decades and didnt begin with him

Trump auctions drilling rights to Arctic National Wildlife ...​

The Washington Post
https://www.washingtonpost.com › 2021/01/06 › trump...
Jan 6, 2021 — Trump officials auctioned off oil and gas leases in Alaska's Arctic National Wildlife Refuge Wednesday, capping Republicans' decades-long ...

ANWR lease sale fizzles for Trump administration, with ...​

Anchorage Daily News
https://www.adn.com › energy › 2021/01/06 › anwr-leas...
Jan 6, 2021 — The federal government's first-ever oil and gas lease sale in the Arctic National Wildlife Refuge raised $14.4 million in bids, with the ...

 

[jbander]

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

One lie after the other and if it isn't a lie then it is always a distortion .trickle down economics is the ultimate lie. First it never trickled down it did what they expected it to do, it make the wealthy receive all the new wealth of this nation into the hands of the golden few. Love the stupidity that they blame Biden for Inflation in the whole fricken world , how does anyone do that. They are that stupid. IN fact this country has the lowest inflation of any block of countries in the world. Now that is what Biden did.
Keep this straight , the right are the ones that stop putting the burden on the employers for hiring illegal. They have always protected big b's ability to hire illegal. The only way to stop illegals is to stop the fat golden few of this country hiring illegals to use to increase their profit.s . Put all the laws against these pigs and illegal crossing will stop. Throw a few of these corporate heads in jail for 25 years or fine them so much that there is no profit in hiring illegals. and it is all gone. NO more walls to build no more bullshit make believe attack on the left from the hate party, no more problem. and fuck all of you for living off such a stupid lie and distortion.

 

[jbander]

Across the board the right has no truth no redeeming value it is all made up. They exist for one reason and that is to transfer the wealth of this country into the hands of the golden few, every other issue they raise is only for votes, and they really care nothing about them.

 

[Toddsterpatriot]

One lie after the other and if it isn't a lie then it is always a distortion .trickle down economics is the ultimate lie. First it never trickled down it did what they expected it to do, it make the wealthy receive all the new wealth of this nation into the hands of the golden few. Love the stupidity that they blame Biden for Inflation in the whole fricken world , how does anyone do that. They are that stupid. IN fact this country has the lowest inflation of any block of countries in the world. Now that is what Biden did.
Keep this straight , the right are the ones that stop putting the burden on the employers for hiring illegal. They have always protected big b's ability to hire illegal. The only way to stop illegals is to stop the fat golden few of this country hiring illegals to use to increase their profit.s . Put all the laws against these pigs and illegal crossing will stop. Throw a few of these corporate heads in jail for 25 years or fine them so much that there is no profit in hiring illegals. and it is all gone. NO more walls to build no more bullshit make believe attack on the left from the hate party, no more problem. and fuck all of you for living off such a stupid lie and distortion.

Supply side economics works every single time it's implemented.

 

[Mac-7]

Trump auctions drilling rights to Arctic National Wildlife ...​

The Washington Post
https://www.washingtonpost.com › 2021/01/06 › trump...
Jan 6, 2021 — Trump officials auctioned off oil and gas leases in Alaska's Arctic National Wildlife Refuge Wednesday, capping Republicans' decades-long ...

ANWR lease sale fizzles for Trump administration, with ...​

Anchorage Daily News
https://www.adn.com › energy › 2021/01/06 › anwr-leas...
Jan 6, 2021 — The federal government's first-ever oil and gas lease sale in the Arctic National Wildlife Refuge raised $14.4 million in bids, with the ...

There is no reason not to exploit the oil reserves in Alaska

 

[Smokin' OP]

Across the board the right has no truth no redeeming value it is all made up. They exist for one reason and that is to transfer the wealth of this country into the hands of the golden few, every other issue they raise is only for votes, and they really care nothing about them.

They vote against their best interest, every time.

US companies' tax windfall fuels record share buybacks​

AP News
https://apnews.com › article
Apr 4, 2019 — U.S. corporations spent a record amount buying back their own shares last year, using 2017's tax-cut windfall to reward shareholders rather ...

Companies in the S&P 500 spent $806 billion on stock buybacks in 2018, blowing away the previous record of nearly $590 billion set in 2007. The information technology and financial service sectors were the biggest spenders, with Apple leading the pack. When share prices plunged in the fourth quarter it only encouraged companies to spend more, setting a fourth consecutive quarterly record for buybacks.

WHO were those presidents?

 

[Smokin' OP]

There is no reason not to exploit the oil reserves in Alaska

Oil companies thought different.

 

[Mac-7]

Oil companies thought different.

If so the greenies would not have to put them off limits

 

[healthmyths]

One lie after the other and if it isn't a lie then it is always a distortion .trickle down economics is the ultimate lie. First it never trickled down it did what they expected it to do, it make the wealthy receive all the new wealth of this nation into the hands of the golden few. Love the stupidity that they blame Biden for Inflation in the whole fricken world , how does anyone do that. They are that stupid. IN fact this country has the lowest inflation of any block of countries in the world. Now that is what Biden did.
Keep this straight , the right are the ones that stop putting the burden on the employers for hiring illegal. They have always protected big b's ability to hire illegal. The only way to stop illegals is to stop the fat golden few of this country hiring illegals to use to increase their profit.s . Put all the laws against these pigs and illegal crossing will stop. Throw a few of these corporate heads in jail for 25 years or fine them so much that there is no profit in hiring illegals. and it is all gone. NO more walls to build no more bullshit make believe attack on the left from the hate party, no more problem. and fuck all of you for living off such a stupid lie and distortion.

I'll leave you blatant, glaring dumb ass statements by Biden and ONE totally ignorant Executive Order by the idiot
who says his Uncle was eaten by cannibals, who said he took a train across the Francis Scott Key Bridge, who's son says Biden's brand was worth the millions paid to Hunter who HAD zero fossil fuels experiences who's future with Barisma was threatened by this dumb ass 2nd comment from Biden who has caused the INFLATION!

Dumb ass comment encouraging illegals, drug cartels, to come across illegally!
Biden: "I would, in fact, make sure that there is, we immediate surge to the border, " hence 13 million illegals, drugs,etc.

Dumb ass executive Order stopping Wall construction..
Proclamation on the Termination Of Emergency With Respect To The Southern Border Of The United States And Redirection Of Funds Diverted To Border Wall Construction

Proclamation on the Termination Of Emergency With Respect To The Southern Border Of The United States And Redirection Of Funds Diverted To Border Wall Construction | The White House

Like every nation, the United States has a right and a duty to secure its borders and protect its people against threats.

www.whitehouse.gov

But that didn't stop Biden from building his wall around his home!
Dumb ass 2nd comment from Biden who has caused the INFLATION!
I guarantee We Are Going To Get Rid of Fossil Fuels” September 06, 2019,


Guaranteeing that

• 8 million fossil fuel jobs be gone!
• 8% of our national GDP be rid of "fossil fuels"!
• Guaranteeing 2,580,300,000,000 kWh from fossil fuel electric plants
• And this dumb ass promises that 50% of cars/light vehicles (not semis!) be EV by 2030 adding another Trillion kWh !

POINT OUT where Biden's exact words are TRUE!

They are LIES!

 

[Smokin' OP]

If so the greenies would not have to put them off limits

WTF?
SO...............supposedly, the oil companies and RWNJ's were fighting for decades for oil drilling in ANWR.
Then given the green light, they don't want it?

ANWR lease sale fizzles for Trump administration, with ...​

Anchorage Daily News
https://www.adn.com › energy › 2021/01/06 › anwr-leas...
Jan 6, 2021 — The federal government's first-ever oil and gas lease sale in the Arctic National Wildlife Refuge raised $14.4 million in bids, with the ...

And THAT is the fault of "Greenies"?

 

[Toddsterpatriot]

WTF?
SO...............supposedly, the oil companies and RWNJ's were fighting for decades for oil drilling in ANWR.
Then given the green light, they don't want it?

ANWR lease sale fizzles for Trump administration, with ...​

Anchorage Daily News
https://www.adn.com › energy › 2021/01/06 › anwr-leas...
Jan 6, 2021 — The federal government's first-ever oil and gas lease sale in the Arctic National Wildlife Refuge raised $14.4 million in bids, with the ...

And THAT is the fault of "Greenies"?

How many billions would you invest, knowing that a new Dem administration
would destroy your investments, like Biden did with Keystone XL?

 

[Mac-7]

WTF?
SO...............supposedly, the oil companies and RWNJ's were fighting for decades for oil drilling in ANWR.
Then given the green light, they don't want it?

ANWR lease sale fizzles for Trump administration, with ...​

Anchorage Daily News
https://www.adn.com › energy › 2021/01/06 › anwr-leas...
Jan 6, 2021 — The federal government's first-ever oil and gas lease sale in the Arctic National Wildlife Refuge raised $14.4 million in bids, with the ...

And THAT is the fault of "Greenies"?

You attack the oil companies for not pouring money into bids under trump that biden has put a freeze on?

They are obviously worried about getting screwed by the greenies

 

[healthmyths]

They vote against their best interest, every time.

US companies' tax windfall fuels record share buybacks​

View attachment 934955
AP News
https://apnews.com › article
Apr 4, 2019 — U.S. corporations spent a record amount buying back their own shares last year, using 2017's tax-cut windfall to reward shareholders rather ...

Companies in the S&P 500 spent $806 billion on stock buybacks in 2018, blowing away the previous record of nearly $590 billion set in 2007. The information technology and financial service sectors were the biggest spenders, with Apple leading the pack. When share prices plunged in the fourth quarter it only encouraged companies to spend more, setting a fourth consecutive quarterly record for buybacks.

WHO were those presidents?

You wrote
"U.S. corporations spent a record amount buying back their own shares last year, using 2017's tax-cut windfall to reward shareholders"

And guess what dummies like you don't comprehend.
Buying back those shares COST the companies:
Buybacks trigger a firm-level excise tax liability

The Excise Tax on Stock Repurchases: Effects on Shareholder Tax Burdens and Federal Revenues — Penn Wharton Budget Model

President Biden has proposed raising the current excise tax rate on stock repurchases from 1 percent to 4 percent. We estimate that, for domestic shareholders, this tax increase would eliminate about 85 percent of the current-law tax preference for dividends over stock repurchases.

budgetmodel.wharton.upenn.edu

A new 1% tax on stock buybacks is starting to increase companies’ anticipated tax burdens, to the tune of over $3.5 billion in the first half of the year among the largest U.S. public companies.

https://www.wsj.com/articles/new-u-s-buyback-tax-hits-companies-with-3-5-billion-burden-452c1f93

But of course dummies like you don't seem to comprehend the MAJOR reason that nearly $1 trillion came back and companies paid IRS nearly $340 billion in reduced taxes (THAT THE GOVERNMENT NEVER got in the first place!!!) and
then paid taxes on buying back the stock...
FACTS:::
The tax cuts on corporate profits earned offshore — from 35 percent to a one-time rate of 15.5 percent on cash and 8 percent on other assets — encouraged companies to bring it home. Tech giants like Apple kept huge stashes of cash abroad, analysts said. Apple said last year it would bring back nearly all of its $250 billion parked overseas.

Much of the money brought home went to a stock buybacks, according to a Federal Reserve study last year. Buyback activity hit a record $1.1 trillion last year and could surpass that level this year.

Some have estimated that American companies held between $1 trillion and $2.5 trillion in cash offshore before the tax cuts.

https://www.cnbc.com/2019/03/27/us-companies-bring-home-665-billion-in-overseas-cash-last-year.html

U.S. companies have repatriated $1 trillion since tax overhaul​

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a Thursday report showed.

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

 

[Toddsterpatriot]

You wrote
"U.S. corporations spent a record amount buying back their own shares last year, using 2017's tax-cut windfall to reward shareholders"

And guess what dummies like you don't comprehend.
Buying back those shares COST the companies:
Buybacks trigger a firm-level excise tax liability

The Excise Tax on Stock Repurchases: Effects on Shareholder Tax Burdens and Federal Revenues — Penn Wharton Budget Model

President Biden has proposed raising the current excise tax rate on stock repurchases from 1 percent to 4 percent. We estimate that, for domestic shareholders, this tax increase would eliminate about 85 percent of the current-law tax preference for dividends over stock repurchases.

budgetmodel.wharton.upenn.edu

A new 1% tax on stock buybacks is starting to increase companies’ anticipated tax burdens, to the tune of over $3.5 billion in the first half of the year among the largest U.S. public companies.

https://www.wsj.com/articles/new-u-s-buyback-tax-hits-companies-with-3-5-billion-burden-452c1f93

But of course dummies like you don't seem to comprehend the MAJOR reason that nearly $1 trillion came back and companies paid IRS nearly $340 billion in reduced taxes (THAT THE GOVERNMENT NEVER got in the first place!!!) and
then paid taxes on buying back the stock...
FACTS:::
The tax cuts on corporate profits earned offshore — from 35 percent to a one-time rate of 15.5 percent on cash and 8 percent on other assets — encouraged companies to bring it home. Tech giants like Apple kept huge stashes of cash abroad, analysts said. Apple said last year it would bring back nearly all of its $250 billion parked overseas.

Much of the money brought home went to a stock buybacks, according to a Federal Reserve study last year. Buyback activity hit a record $1.1 trillion last year and could surpass that level this year.

Some have estimated that American companies held between $1 trillion and $2.5 trillion in cash offshore before the tax cuts.

https://www.cnbc.com/2019/03/27/us-companies-bring-home-665-billion-in-overseas-cash-last-year.html

U.S. companies have repatriated $1 trillion since tax overhaul​

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a Thursday report showed.

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

You wrote
"U.S. corporations spent a record amount buying back their own shares last year, using 2017's tax-cut windfall to reward shareholders"

And guess what dummies like you don't comprehend.
Buying back those shares COST the companies:
Buybacks trigger a firm-level excise tax liability

That tax didn't exist until 2022.