U.S. Deficit Explodes Even As Economy Grows

[g5000]

I will let one of Trump's most devoted lickspittles explain the principle of how tax expenditures cause higher tax rates and are theft:

No tax reform without border adjustment tax, Rep. Nunes says

"If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."


I would ask everyone to read that a hundred times if that is how much it takes for you to comprehend it.

For every dollar you get to deduct from your taxes, someone else has to pay an extra dollar.

People earning identical incomes are paying radically different taxes.

I honestly don't know how anyone who calls themselves a conservative or a libertarian could be tolerant of the government punishing you for not buying the right things for for not breeding.

Because we have tolerated it, it was no big leap for Obama to punish you for not buying the right kind of health insurance.

 

[francoHFW]

Not really.

Democrats: Tax and spend

Republicans: Borrow and spend

Neither party is really interested in balancing the budget.

Tax and spend is basically what government is supposed to do, just needs to be well regulated, another thing Republicans don't believe in. Borrow and spend is idiocy along with cutting taxes on the rich as we have seen.... As well as GOP corrupt deregulation which has given us all these recessions and depressions LOL and of course the stupidest wars ever and cruelty for the middle and working classes.... You are a brainwashed functional moron to vote for them.....

 

[pknopp]

Um...no. The billions in debt are caused by OUTLAYS. Revenues are INLAYS.

The debt is because outlays are greater than inlays.

Fed pumping and debt are not the same thing.

 

[Woodznutz]

I'm pretty sure he was joking.

I wasn't joking. If you do the right things, good things will happen to you, and vice versa.

 

[g5000]

Tax and spend is basically what government is supposed to do, just needs to be well regulated, another thing Republicans don't believe in. Borrow and spend is idiocy along with cutting taxes on the rich as we have seen.... As well as GOP corrupt deregulation which has given us all these recessions and depressions LOL and of course the stupidest wars ever and cruelty for the middle and working classes.... You are a brainwashed functional moron to vote for them.....

I stopped voting Republican a long, long time ago. I finally quit the Republican Party altogether in 2017.

I used to leave federal offices blank on my ballot until a Republican poll worker was busted for filling in the blank parts of ballots with Republicans. So then I started writing in Snoopy and Pat Paulsen. In 2016, I wrote in Ted Cruz on behalf of my mother who had recently passed who was a big Cruz fan.

I voted for a Democrat one time, at the behest of William F. Buckley, so we could unseat a liberal Republican Senator. And it worked.

This is what I am talking about. We need to stop with this "It's all the Democrats' fault!" and "It's all the Republicans' fault" bullshit.

That is precisely what the special interests want us to do.

It's the classic divide and conquer tactic.

 

[g5000]

I wasn't joking. If you do the right things, good things will happen to you, and vice versa.

Magical thinking.

 

[g5000]

Fed pumping and debt are not the same thing.

Well, I linked to my Fed Doomsday Bond Bubble Machine topic a few posts back. You might enjoy it.

At the time I began that topic, I think the Fed's balance sheet was around $3 trillion.

Now it's $9 trillion. No wonder we have inflation!

But somehow that's Biden's fault.

 

[francoHFW]

More opportunities for upward mobility today than ever. Especially with so many taking themselves out of the job market via crime, drugs, mental illness, laziness, and of course unrealistic expectations.

Brainwashed again then are we? Everybody wants a good job, too bad we have so many crap jobs, the worst vacations, pay, benefits and the longest workweeks anywhere, the longest time before retirement etcetera Etcetera Etcetera no health care daycare help paid parental leave crap infrastructure. The Republicans have cut every program for the middle class and the lower class they can get their hands on and they are the reason why public university is so expensive. End of story. Enjoy the crap GOP World of today, dupe.

 

[Woodznutz]

Tax and spend is basically what government is supposed to do, just needs to be well regulated, another thing Republicans don't believe in. Borrow and spend is idiocy along with cutting taxes on the rich as we have seen.... As well as GOP corrupt deregulation which has given us all these recessions and depressions LOL and of course the stupidest wars ever and cruelty for the middle and working classes.... You are a brainwashed functional moron to vote for them.....

It is the rich who raise our standard of living. Why would you want the poor to determine our standard of living?

 

[francoHFW]

It is the rich who raise our standard of living. Why would you want the poor to determine our standard of living?

We have the worst inequality upward mobility homelessness and poverty for at least 100 years stupid. Oops oops I mean brainwashed functional moron politically of course.

 

[g5000]

It is the rich who raise our standard of living. Why would you want the poor to determine our standard of living?

No, the rich have been concentrating their wealth in their own hands. They have not shared their prosperity with their workers. The income gap between employees and CEOs is astronomical compared to the past.

 

[Woodznutz]

Brainwashed again then are we? Everybody wants a good job, too bad we have so many crap jobs, the worst vacations, pay, benefits and the longest workweeks anywhere, the longest time before retirement etcetera Etcetera Etcetera no health care daycare help paid parental leave crap infrastructure. The Republicans have cut every program for the middle class and the lower class they can get their hands on and they are the reason why public university is so expensive. End of story. Enjoy the crap GOP World of today, dupe.

In the real world you often start with a crappy job that has no benefits. Millions have done it and it won't change anytime soon. The "I want it all and I want it now" approach that you seem to support doesn't work for most.

 

[g5000]

It is the rich who raise our standard of living. Why would you want the poor to determine our standard of living?

You can see here the skyrocketing disparity between CEO compensation and employee wages over the past few decades.

CEO pay has skyrocketed 1,460% since 1978: CEOs were paid 399 times as much as a typical worker in 2021

What this report finds: Corporate boards running America’s largest public firms are giving top executives outsize compensation packages that have grown much faster than the stock market and the pay of typical workers, college graduates, and even the top 0.1%. In 2021, we project that a CEO at...

www.epi.org

 

[g5000]

Just my humble opinion, but I think the primary driver behind skyrocketing wage disparities is the movement toward taking companies public.

A CEO's pay is tied to the company share price and not their actual performance. You can be a shitty CEO during an economic boom and still get paid handsomely because a rising tide (economy) lifts all boats (stock prices).

And you can see that clearly in the graph I just posted. CEO pay rises and falls in direct correlation to the stock market. Their actual job performance is no longer a factor.

 

[Woodznutz]

We have the worst inequality upward mobility homelessness and poverty for at least 100 years stupid. Oops oops I mean brainwashed functional moron politically of course.

When I started out jobs were hard to find because everyone wanted one. Today people disqualify themselves from the job market through crime, drugs, mental illness, laziness, college, online businesses (get-rich-quick schemes which usually fail within months) and unrealistic expectations. Companies are begging for good workers and offering good pay.

 

[Woodznutz]

You can see here the skyrocketing disparity between CEO compensation and employee wages over the past few decades.

CEO pay has skyrocketed 1,460% since 1978: CEOs were paid 399 times as much as a typical worker in 2021

What this report finds: Corporate boards running America’s largest public firms are giving top executives outsize compensation packages that have grown much faster than the stock market and the pay of typical workers, college graduates, and even the top 0.1%. In 2021, we project that a CEO at...

www.epi.org

Good, that means there is a lot of money floating around. CEO's don't stuff it in a mattress, they spend and invest it back into the economy. Who cares who owns the money as long as they can get their hands on it, mainly through employment.

Also, it's the average consumer who makes the rich richer by buying their stuff.

 

[g5000]

Good, that means there is a lot of money floating around. CEO's don't stuff it in a mattress, they spend and invest it back into the economy.

Wow. You've really drank the Kool-Aid! The wealthy actually do stuff their money in a mattress, metaphorically speaking.

Also, you don't think the workers would spend their money back into the economy? Of course they would! And more directly.

 

[pknopp]

Well, I linked to my Fed Doomsday Bond Bubble Machine topic a few posts back. You might enjoy it.

At the time I began that topic, I think the Fed's balance sheet was around $3 trillion.

Now it's $9 trillion. No wonder we have inflation!

But somehow that's Biden's fault.

It's all of their fault.

 

[g5000]

It's all of their fault.

Partly their fault.

No one made Trump spend us $8 trillion more into debt. No one made Obama spend us $8 trillion more into debt.

Actually, we ALL did. And we pressured the Fed to keep pumping trillions into the economy because we did not want to suffer the consequences of our mistakes.

All we have achieved is kicking that pain further down the road, and it is getting bigger and bigger and will eventually blow up in our faces far worse than it would have if we dealt with it when we should have.

 

[g5000]

It's a real shit sandwich and everybody has to take a bite.

No one wants to eat shit, but we have put it off for so long while the shit sandwich gets bigger.

One day we will all have to take SEVERAL bites.