Are you a Boomer? Congratulations, You Won the Economy!

[WorldWatcher]

False the middle class got huge cut and the economy will get 10 billion from the government i to middle class families that will stimulate the economy. Tax cuts are good we all do better.
When the government gets richer we all get poorer

Now factor in Import Taxes that the Administration has implemented as "Tarrifs" that are paid for (the vast majority) be consumers. Which hits middle and lower classes and are considered regressive.

Tarrifs are a tax increase.

WW

Tariffs have cost U.S. households $1,200 each since Trump returned to the White House, Democrats say

Sweeping taxes on imports have cost the average American household nearly $1,200 since Donald Trump returned to the White House this year, according to calculations by Democrats on Congress’ Joint Economic Committee.

apnews.com

 

[Seymour Flops]

It's that damnable Hard Work Privilege again!

We boomers had our fun and partied in the 60's and 70's. We sure enjoyed the then new sexual freedom.

But we did all that to relax after working hard all day/all week. Not as a 24/7 lifestyle.

we picked up the phone and made a phone call for a job interview or a date or some other human interaction and then left the phone behind. We did not bury our noses in pocket computers and then assault teachers when asked to put them away.

That is how we boomers won the economy. The great thing is that the OP or anyone else can adopt that strategy and also win. Nothing prevents it, but your own lack of enthusiasm for real life.

 

[1srelluc]

I am a boomer. I am responsible.


I only did it to you because I do not like you, Citygator.

And if I get a re-do.

 

[skews13]

Answer the question:

Was debt an issue for you during Biden's term?

Show me your USMB threads about the debt and reforming SS, and I'll show you my Wakanda vacation photo album.

Was it an issue for you during Reagans term when the debt first started under the whole trickledown economics scam?

How about George Bush's term when he quadrupled it, and put two wars on the country's credit card. Was it an issue for you then?

How about Trumps first term when his first tax cuts bill that added another $7 trillion to the debt, at a time the economy was recovering from Bush?

Was it an issue for you then?

Obvious troll comment because no human being can possibly be that ******* stupid.

The national debt is because of one, and only one reason only. Tax cuts for morbidly rich parasites and the corporations they run.

Just as soon as the nations youngsters figure that out, and take that away from them

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than anyone according to a new Wall Street Journal article.

Today’s Boomers have tilted the economy towards themselves and saddled younger generations with their debt and payouts and the cost is swallowing the budget.

https://www.wsj.com/economy/over-65-congratulations-you-own-the-economy-5acea4c4?mod=hp_lead_pos8

View attachment 1220613
As of the third quarter of last year, people 70 and over controlled roughly 39% of all equities and mutual funds owned by households, compared with 22% in 2007, according to Federal Reserve data. Their share of net worth—assets minus debts—was 32%, up from 20% two decades earlier.

This is good news: there has never been a better time in America to be old. Yet it also exposes our disjointed national priorities. We keep pouring resources into making the elderly comfortable and happy when the economy’s pressure points lie elsewhere.

The elderly are mostly out of the job market and thus need not worry about being replaced by artificial intelligence. The majority own their homes, often debt-free. Everyone worries about health costs, but the elderly have publicly funded Medicare. None of this is true for the younger generations.

The cost is swallowing the budget. Federal spending on elderly programs has risen from 6.9% of gross domestic product in 2007 to 9.4% last year and will reach 11.3% in a decade, the Congressional Budget Office projects.

That is where the real threat to intergenerational harmony lies. Elderly programs, plus interest, are the primary driver of the gaping budget deficit. By 2032, Social Security will no longer be able to pay full benefits. Fixing the deficit and Social Security requires some combination of higher taxes or lower future benefits, both of which will largely spare today’s elderly. If you think the young are anxious now, just wait.

View attachment 1220612View attachment 1220614

Wall St. Journal article? The paper owned by the billionaire that pays less taxes than his workers? That Wall St. Journal?

The national debt exists for one, and only one reason. Supply side economics. AKA trickle down economics. This scam started in 1983, and has been perpetuated ever since by Republican Presidents in cooperation with Republican led Congress'.

None of this is new. It was around before any New Deal policies were enacted by FDR after the Great Republican Depression, and it was tariff policies of the late 1800's-early 1900's that led to the adoption of the 16th Amendment by popular support of the American people.

The nations debts and problems have always been the same. Rich people not paying enough taxes, and working poor not having livible standards, especially as they age and retire.

The New Deal policies were put into place by the Greatest Generation. Not the Boomer Generation. What Boomers are guilty of is stealing from those policies that were set up to benefit every future generation that came afterwards.

This can just as easily be resolved by todays generations by simply voting for and demanding of those you choose to represent you. So the decision will have to be made are we truly a representative democracy that benefits us all, or are we a private country club for members only?

Make those Boomers and the corporations they run start paying for the future that was promised the younger generations by FDR in the first place.

 

[Hafar1014]

Now factor in Import Taxes that the Administration has implemented as "Tarrifs" that are paid for (the vast majority) be consumers. Which hits middle and lower classes and are considered regressive.

Tarrifs are a tax increase.

WW

Tariffs have cost U.S. households $1,200 each since Trump returned to the White House, Democrats say

Sweeping taxes on imports have cost the average American household nearly $1,200 since Donald Trump returned to the White House this year, according to calculations by Democrats on Congress’ Joint Economic Committee.

apnews.com

Consumers are not paying tariffs inflation is 2.2%. Manufacturers pay the tariffs. Consumers wont pay high prices with lowers demand, supply increases and prices drop.

 

[Hafar1014]

Was it an issue for you during Reagans term when the debt first started under the whole trickledown economics scam?

How about George Bush's term when he quadrupled it, and put two wars on the country's credit card. Was it an issue for you then?

How about Trumps first term when his first tax cuts bill that added another $7 trillion to the debt, at a time the economy was recovering from Bush?

Was it an issue for you then?

Obvious troll comment because no human being can possibly be that ******* stupid.

The national debt is because of one, and only one reason only. Tax cuts for morbidly rich parasites and the corporations they run.

Just as soon as the nations youngsters figure that out, and take that away from them

Wall St. Journal article? The paper owned by the billionaire that pays less taxes than his workers? That Wall St. Journal?

The national debt exists for one, and only one reason. Supply side economics. AKA trickle down economics. This scam started in 1983, and has been perpetuated ever since by Republican Presidents in cooperation with Republican led Congress'.

None of this is new. It was around before any New Deal policies were enacted by FDR after the Great Republican Depression, and it was tariff policies of the late 1800's-early 1900's that led to the adoption of the 16th Amendment by popular support of the American people.

The nations debts and problems have always been the same. Rich people not paying enough taxes, and working poor not having livible standards, especially as they age and retire.

The New Deal policies were put into place by the Greatest Generation. Not the Boomer Generation. What Boomers are guilty of is stealing from those policies that were set up to benefit every future generation that came afterwards.

This can just as easily be resolved by todays generations by simply voting for and demanding of those you choose to represent you. So the decision will have to be made are we truly a representative democracy that benefits us all, or are we a private country club for members only?

Make those Boomers and the corporations they run start paying for the future that was promised the younger generations by FDR in the first place.

Tax cuts increase tax revenues. Government spending increases debt.
When the rich get richer we all get richer.
When the government gets richer we all get poorer.
Biden massively expanded the government with debt and inflation crushed the economy.
Trump cut spending and taxes reduced the government and the middle class is thriving.

 

[Billiejeens]

Thanks

We most definitely earned it.

 

[WorldWatcher]

Consumers are not paying tariffs inflation is 2.2%. Manufacturers pay the tariffs. Consumers wont pay high prices with lowers demand, supply increases and prices drop.

Of course they are. Consumers and business are paying 90% of the cost of tarrifs.

Foreign companies do not "pay" tarrifs, tarrifs are levied on the importers when goods arrive on American shores at import locations (like ports). The tarrifs have to be paid by the importers before the goods are released for further transport within the US. The importers then have to pass those tarrifs along to the purchaser of the goods as part of the cost of doing business. Those increased costs then increase costs to the consumer. (Or another option that some see is known as "shinkflation" where businesses charge the same for an item, but make the item smaller.)

When the cost of doing business increases, those businesses pass the increased cost to the consumer. So even if some businesses "absorb" the costs in the short term, that goes eventually enter the supply chain.

WW

Consumers and businesses paid nearly 90% of Trump tariffs in 2025, new analysis found

White House advisor Kevin Hassett slammed the New York Fed report, which found that Americans, not foreign exporters, bear most tariff costs.

www.cbsnews.com

 

[WorldWatcher]

Tax cuts increase tax revenues. Government spending increases debt.
When the rich get richer we all get richer.
When the government gets richer we all get poorer.
Biden massively expanded the government with debt and inflation crushed the economy.
Trump cut spending and taxes reduced the government and the middle class is thriving.

Trump's tax cuts added $2 TRILLION dollars to the debt.

WW

 

[skews13]

Tax cuts increase tax revenues. Government spending increases debt.
When the rich get richer we all get richer.
When the government gets richer we all get poorer.
Biden massively expanded the government with debt and inflation crushed the economy.
Trump cut spending and taxes reduced the government and the middle class is thriving.

We already have a tried and proven system that works. It created the largest middleclass expansion of wealth between 1945-1980. When one pay check bought a home, paid the bills, put the kids through college, and allowed workers to retire comfortably with a pension.

Everything before that, and everything after that is a bullshit lie, or a failure.

The previous middle class expansion ended in 1983, and has collapsed ever since, on the scam that is trickledown economics. Which now has a 40 year history of failure for everybody to see.

 

[Hafar1014]

Trump's tax cuts added $2 TRILLION dollars to the debt.

WW

WASHINGTON, D.C. – House Budget Committee Chairman Jodey Arrington (R-TX) along with Ways and Means Committee Chairman Jason Smith (R-MO) issued the following statement after the Congressional Budget Office (CBO) issued their latest Long-Term Budget Outlook Under Alternative Scenarios for the Economy and the Budget, which includes CBO’s estimation of the budgetary and economic impact of making the 2017 Trump tax cuts permanent:

“While the Congressional Budget Office provides a valuable service to the Congress, its track record in predicting the economic and fiscal outcome of the 2017 Trump tax cuts is poor to say the least. It’s troubling that the CBO issued a report intended to help policymakers make decisions about future legislative initiatives without ever asking the policymakers they are trying to help for input. Without this input, the studies and analyses are less helpful in the decision-making process and give the appearance of policies being cherry picked for analysis.

The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following implementation of the law.

Beyond what the Trump tax cuts did for economic growth and federal revenues, it provided major benefits to working families. The officially reported poverty level fell to its lowest rate in 50 years and unemployment rates for minorities and those without a college degree hit all-time lows. Real median household income rose by $5,000, and wages went up by nearly 5 percent. Americans earning under $100,000 saw an average tax cut of 16 percent. And while the tax burden on low-income families went down, the top one percent saw their share of federal taxes go up.

 

[Hafar1014]

We already have a tried and proven system that works. It created the largest middleclass expansion of wealth between 1945-1980. When one pay check bought a home, paid the bills, put the kids through college, and allowed workers to retire comfortably with a pension.

Everything before that, and everything after that is a bullshit lie, or a failure.

The previous middle class expansion ended in 1983, and has collapsed ever since, on the scam that is trickledown economics. Which now has a 40 year history of failure for everybody to see.

Tax increases and government spending are what hurt the middle class.


WASHINGTON, D.C. – House Budget Committee Chairman Jodey Arrington (R-TX) along with Ways and Means Committee Chairman Jason Smith (R-MO) issued the following statement after the Congressional Budget Office (CBO) issued their latest Long-Term Budget Outlook Under Alternative Scenarios for the Economy and the Budget, which includes CBO’s estimation of the budgetary and economic impact of making the 2017 Trump tax cuts permanent:

“While the Congressional Budget Office provides a valuable service to the Congress, its track record in predicting the economic and fiscal outcome of the 2017 Trump tax cuts is poor to say the least. It’s troubling that the CBO issued a report intended to help policymakers make decisions about future legislative initiatives without ever asking the policymakers they are trying to help for input. Without this input, the studies and analyses are less helpful in the decision-making process and give the appearance of policies being cherry picked for analysis.

The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following implementation of the law.

Beyond what the Trump tax cuts did for economic growth and federal revenues, it provided major benefits to working families. The officially reported poverty level fell to its lowest rate in 50 years and unemployment rates for minorities and those without a college degree hit all-time lows. Real median household income rose by $5,000, and wages went up by nearly 5 percent. Americans earning under $100,000 saw an average tax cut of 16 percent. And while the tax burden on low-income families went down, the top one percent saw their share of federal taxes go up.

 

[citygator]

No surprise, Boomers are the most leftist of all the generations.

Greed and cruelty are in their DNA.

Yep. They just call other people communists and try to keep hard working immigrants out while getting their handouts and granting themselves their own benefits that wont make it to subsequent generations. You've heard of "me too"? This is "me only".

"All animals are equal, but some animals are more equal than others" - George Orwell's Animal Farm

 

[citygator]

Shouldn’t you be enslaved and sent off to risk life and limb in some meaningless military escapade?

Oh, that’s right, we Boomers did away with that nonsense.

You’re welcome!

You didnt do shit for me except live in a safe world that the Greatest Generation bled for you to have and then fleeced the younger generations by saddling us with $30T in debt while granting yourselves free healthcare and retirement income at our expense and lobbying against every effort to make those things more affordable to us. Your generation is the Worst. Generation. Ever. A bunch of takers that want to blame the poor and immigrants for the soul sucking grifting YOU actually did.

 

[citygator]

I am a boomer. I am responsible.


I only did it to you because I do not like you, Citygator.

I will have to caveat it may not be every Boomer's fault. There are Boomers fighting for a more broad approach to governing than catering just to themselves. Several on here actually.

 

[Hafar1014]

You didnt do shit for me except live in a safe world that the Greatest Generation bled for you to have and then fleeced the younger generations by saddling us with $30T in debt while granting yourselves free healthcare and retirement income at our expense and lobbying against every effort to make those things more affordable to us. Your generation is the Worst. Generation. Ever. A bunch of takers that want to blame the poor and immigrants for the soul sucking grifting YOU actually did.

Free healthcare ? Who has that? You have to be poor

 

[Mr Natural]

You didnt do shit for me except live in a safe world that the Greatest Generation bled for you to have and then fleeced the younger generations by saddling us with $30T in debt while granting yourselves free healthcare and retirement income at our expense and lobbying against every effort to make those things more affordable to us. Your generation is the Worst. Generation. Ever. A bunch of takers that want to blame the poor and immigrants for the soul sucking grifting YOU actually did.

Cheer up!

We’ll be gone soon enough and then you can have your country back to the way you want it.

 

[citygator]

It's that damnable Hard Work Privilege again!

We boomers had our fun and partied in the 60's and 70's. We sure enjoyed the then new sexual freedom.

But we did all that to relax after working hard all day/all week. Not as a 24/7 lifestyle.

we picked up the phone and made a phone call for a job interview or a date or some other human interaction and then left the phone behind. We did not bury our noses in pocket computers and then assault teachers when asked to put them away.

That is how we boomers won the economy. The great thing is that the OP or anyone else can adopt that strategy and also win. Nothing prevents it, but your own lack of enthusiasm for real life.

You left a $30T bill on my table and are running to the gates of St Peter without a care in the world. You got yours. The rest of us have to pay for your sins. Start calling us Jesus please.

 

[1srelluc]

You left a $30T bill on my table and are running to the gates of St Peter without a care in the world. You got yours. The rest of us have to pay for your sins. Start calling us Jesus please.

LOL....You have come to the wrong shop for "boomer guilt".

Perhaps you should join ARFCOM....There's a whole shit-ton of members that hate boomers there.

 

[MisterBeale]

The previous middle class expansion ended in 1983, and has collapsed ever since, on the scam that is trickledown economics. Which now has a 40 year history of failure for everybody to see.

The Laffer Curve is not the reason the middle class has collapsed.

It has more to do with government deficit spending exporting some of the inflation overseas, while slowly allowing it to affect the American economy because the government no longer even makes an attempt to keep a balanced budget.

This causes debasement of the currency which disproportionately affects the middle class and the poor.

If you want to blame anyone, blame the FED and the lack of transparency around what it does.

Post in thread 'Republicans Have No Plan to Fix Inflation'

Jun 1, 2022

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it to congress. Because if they had one and it worked, they would most certainly assure themselves the majority. Instead it's been about obstruction and the idiocy of Big Money Manchin and Corporate Slave Sinema.

I say they have no plan because spending by trump contributed to the inflation.

Facts First: While some economists say the stimulus packages passed in response to the Covid-19 pandemic are having an impact on inflation...

• MisterBeale

•