The Economy Continues To Go Great Under Biden

[struth]

The thread is about 'economies' past and present.

Not sure how you got that, the title specifically refers to Xiden’s

 

[struth]

Too many tax cuts for the wealthy.

If we taxed the wealthy more the govt would spend less??


Why didn’t xiden and the dems do that?

 

[22lcidw]

Too many tax cuts for the wealthy.

Progs had the chance again to rectify that the first two years of old Joe. Of course, they printed trillions and trillions and trillions of fiat currency that the lower classes are suffering for now. At some point Progs have to raise the taxes like they spew about Republicans lowering them for the wealthy. The truth is many of them are beholden to lobbyists and corporate interests. This is a worn-out attack that is always made and progs never raise the taxes massively to balance the budget when they are in power.

 

[C_Clayton_Jones]

Except that things are so NOT great that people are having major difficulties in repaying their student loans. But, if things are going so great, how can that be? And, we also have this:

The Census Bureau found that 41.2% of adults reported difficulties paying household expenses in its latest household pulse survey that polled respondents from Sept. 20 to Oct. 2. That was up from 37.3% from the previous two-week polling period between Aug. 23 to Sept. 4 and the highest share on record since the survey first began asking that question in August 2020.

But, things are going great!

Student loans: Early data shows repayments are already taking a toll

The data provides the earliest indications of the kind of impact those repayments could have on both households and the economy

finance.yahoo.com

If President Biden doesn’t deserve credit for a strong economy, then he can’t be blamed should the economy falter.

Conservatives can’t have it both ways.

 

[struth]

If President Biden doesn’t deserve credit for a strong economy, then he can’t be blamed should the economy falter.

Conservatives can’t have it both ways.

Haha he doesn’t deserve credit for a strong one because he gave us one that flattered

 

[Crepitus]

If we taxed the wealthy more the govt would spend less??

We don't have a spending problem, we have a revenue problem.

 

[Crepitus]

Progs had the chance again to rectify that the first two years of old Joe.

Yup. Not happy about that.

 

[Winco]

Not sure how you got that, the title specifically refers to Xiden’s

The Thread Title specifically says......

The Economy Continues To Go Great Under Biden​

The title doesn't mention Xiden, now does it?
The Title also says the Economy Continues To Go Great Under Biden.

Who turned it into the opposite?

 

[struth]

We don't have a spending problem, we have a revenue problem.

Haha revenue has increased after every major tax cut

 

[struth]

The Thread Title specifically says......

The Economy Continues To Go Great Under Biden​

The title doesn't mention Xiden, now does it?
The Title also says the Economy Continues To Go Great Under Biden.

Who turned it into the opposite?

so when you said the thread is about economies both past and present yoi were lying?

Why did you lie?

 

[whitehall]

When the GDP is in the toilet it has no where to go but up. Biden still has a ways to go to catch up to Trump.

 

[Staidhup]

If President Biden doesn’t deserve credit for a strong economy, then he can’t be blamed should the economy falter.

Conservatives can’t have it both ways.

How can you call a recovery from the total shutdown of the economy then allowing people back to work a success story, its still a recovery.
How can you say spending trillions economic prosperity when the resulting decrease in purchasing power of the currency simply destroys the middle and lower class.
What do you think is the core reason for inflation?
The economy is faltering and yes the president and his minions in congress are responsible.

 

[22lcidw]

Yup. Not happy about that.

They never will. It plays well with the voters like cutting a few dollars from a hundred-billion-dollar program will kill hundreds of millions of recipients. The costs keep rising and they have risen exponentially from their incipient starts due to this.

 

[Independent thinker]

If President Biden doesn’t deserve credit for a strong economy, then he can’t be blamed should the economy falter.

Conservatives can’t have it both ways.

Why don't you tell us your opinion? Are things going great, or, are Biden and the left liars?

 

[Crepitus]

Haha revenue has increased after every major tax cut

Nope

 

[struth]

Nope

The IRS data runs counter to your claim

So why didn’t xiden and the dems raise taxes?

 

[Crepitus]

The IRS data runs counter to your claim

So why didn’t xiden and the dems raise taxes?

How Tax Cuts Affect the Economy

An increase or decrease in taxes affects the economy and spending decisions of individuals in higher and lower income brackets.

www.investopedia.com

 

[task0778]

How Tax Cuts Affect the Economy

An increase or decrease in taxes affects the economy and spending decisions of individuals in higher and lower income brackets.

www.investopedia.com

From your link:

Reducing marginal tax rates to spur economic growth is a commonly used policy with the notion that lower tax rates will give people more after-tax income that could be used to buy more goods and services.


This is a demand-side argument to support a tax reduction as an expansionary measure. Further, reduced tax rates may boost savings and investment, leading to further production and reduced unemployment.


Lowering taxes raises disposable income, allowing the consumer to spend more, which increases the gross domestic product (GDP).
.
.
.
The National Bureau of Economic Research studies the persistent effects of temporary changes in U.S. federal corporate and personal income tax rates. According to their recent 2022 working paper, a corporate income tax cut leads to a sustained increase in GDP and productivity. In contrast, personal income tax cuts trigger a short-lived boost to GDP, productivity, and hours worked but have no long-term effects.



Coming out of the Obama years, economic growth in this country was a paltry 1.6%. President Trump believed that tax cuts would boost economic growth for everybody and it did in 2018, the year after the cuts went into effect. The figures show that revenue did increase in that year after the tax cuts went into effect, it's kinda like a slightly smaller piece of a larger pie vs the same size piece of the same size pie.

 

[Independent thinker]

Remember when they claimed that a trump policy created energy Independence.

Which Policy was that?

We were producing more energy than our own country needed. That is called energy independence, something Biden has made sure we don't have anymore.

 

[Independent thinker]

Too many tax cuts for the wealthy.

The tax cuts increased tax revenue.