At what point will Americans stop buying stuff?

[busybee01]

So how do you propose we do that, by having Bill Gates and Elon Musk write checks to every American?

If you tax the wealthy, all you do is give more money to government. As history shows, they'll just waste it, especially if Democrats are running the show.

This discussion reminds me of Rush Limbaugh talking about when he was a child. When he didn't finish his dinner, his mother always told him there are children starving in China. After she said that one too many times, he replied by asking his mother if he finished his dinner, how would that help one starving Chinese child?

Tax the wealthy all you like, but you or I will never see one dime of it. All you'll really do is sate your hatred of the wealthy, and possibly crash the economy.

It also prevents the rich from accumulating too much cash. The rich are not suffering in any way. In addition, no one is talking about 60% tax rates. Most proposals would reinstate the top rate of 39%.

 

[busybee01]

Here Are 81 Biden Actions That Drove Gas Prices to Historic Highs

townhall.com

That is so much bullshit. A recent Dallas Fed survey shows only 9% of oil executives say regulations are keeping them from drilling.

 

[busybee01]

Mass confusion impedes Fed attempts to prevent recession

Officials are gearing up for another supersized interest rate hike that's likely to send the economy and markets through convulsion, without a clear line of sight at their target, heightening the risk that they'll do either too much or too little.

www.politico.com

Economic growth is projected by some analysts to have been negative in the second quarter of the year, but hiring is strong and the jobless rate sits near historic lows. Consumers say they’re unhappy about the economy but are still spending even amid the aggressive price spikes. Supply chains are improving, but manufacturing output is slowing. And Covid cases are skyrocketing again even as America fully reopens for business.

People are still reluctantly accepting job offers, but perhaps they are just spending their "extra" income to offset inflation, and even making the feds' interest rate hikes ineffective.

The problem with inflation is that it is being pumped up by companies raising prices because they can, not because they have to. I suspect that there is about 5% legitimate with 4% being higher profit margins. The items that have seen the highest increases are in industries that have little or no competition. The meat industry is a good example. Ranchers have complained about getting screwed by the meat industry because there is little or no competition.

The inflation report next month should be fascinating. We know gas prices will show a decline. Hower will other prices moderate or will companies keep their current prices in effect to increase their profits or will they give a little back?

In addition, retailers are being inundated with product that was sitting on the docks. To get rid of them, they are cutting prices. I was at Walmart last week, and they had metal trash cans stacked halfway to the ceiling.

 

[MinTrut]

Mass confusion impedes Fed attempts to prevent recession

Officials are gearing up for another supersized interest rate hike that's likely to send the economy and markets through convulsion, without a clear line of sight at their target, heightening the risk that they'll do either too much or too little.

www.politico.com

Economic growth is projected by some analysts to have been negative in the second quarter of the year, but hiring is strong and the jobless rate sits near historic lows. Consumers say they’re unhappy about the economy but are still spending even amid the aggressive price spikes. Supply chains are improving, but manufacturing output is slowing. And Covid cases are skyrocketing again even as America fully reopens for business.

People are still reluctantly accepting job offers, but perhaps they are just spending their "extra" income to offset inflation, and even making the feds' interest rate hikes ineffective.

MILD Covid cases are sort of spiking.

Biden's a brain dead 137 year old zombie, has Covid, and is fine.

Bur we are, in general, fucked royally.

 

[struth]

yes people are stopping to purchase items..money is right due to xiden inflation

the economy is headed for a deep recession

 

[struth]

The problem with inflation is that it is being pumped up by companies raising prices because they can, not because they have to. I suspect that there is about 5% legitimate with 4% being higher profit margins. The items that have seen the highest increases are in industries that have little or no competition. The meat industry is a good example. Ranchers have complained about getting screwed by the meat industry because there is little or no competition.

The inflation report next month should be fascinating. We know gas prices will show a decline. Hower will other prices moderate or will companies keep their current prices in effect to increase their profits or will they give a little back?

In addition, retailers are being inundated with product that was sitting on the docks. To get rid of them, they are cutting prices. I was at Walmart last week, and they had metal trash cans stacked halfway to the ceiling.

companies don’t have higher profit margins…margins are being eaten up by inflation and higher taxes

 

[Deplorable Yankee]

Mass confusion impedes Fed attempts to prevent recession

Officials are gearing up for another supersized interest rate hike that's likely to send the economy and markets through convulsion, without a clear line of sight at their target, heightening the risk that they'll do either too much or too little.

www.politico.com

Economic growth is projected by some analysts to have been negative in the second quarter of the year, but hiring is strong and the jobless rate sits near historic lows. Consumers say they’re unhappy about the economy but are still spending even amid the aggressive price spikes. Supply chains are improving, but manufacturing output is slowing. And Covid cases are skyrocketing again even as America fully reopens for business.

People are still reluctantly accepting job offers, but perhaps they are just spending their "extra" income to offset inflation, and even making the feds' interest rate hikes ineffective.

Soon

 

[August West]

your comment has nothing to do with either my post or the link, but thank you for playing.

It could`ve been worse. He/she forgot to bring up the BLM riots and shootings in Chicago.

 

[my2¢]

At what point will Americans stop buying stuff?​

My take on the answer is this: they'll stop when their credit runs out. Interest rate hikes slow the economy by making borrowing more expensive. This is most readily seen in the housing market where most folks can spend more when rates are at 3%, compared to 6%.

 

[Ray From Cleveland]

That is so much bullshit. A recent Dallas Fed survey shows only 9% of oil executives say regulations are keeping them from drilling.

That's because their companies are the ones drilling on federal land. Most of our oil comes from private land. But 10% is hell of a lot of oil to lose.

 

[Ray From Cleveland]

It also prevents the rich from accumulating too much cash. The rich are not suffering in any way. In addition, no one is talking about 60% tax rates. Most proposals would reinstate the top rate of 39%.

Is that the job of our federal government, stopping people from making (what you consider) too much cash? If so, where is that written?

 

[busybee01]

MILD Covid cases are sort of spiking.

Biden's a brain dead 137 year old zombie, has Covid, and is fine.

Bur we are, in general, fucked royally.

Trump supporters are the ones who are brain-dead.

 

[struth]

it’s been happening all year…xiden’s inflation, and the dems horrible attack on the economy has take hold…congrats…welcome to the xiden inflation and dembot recession

 

[g5000]

Mass confusion impedes Fed attempts to prevent recession

Officials are gearing up for another supersized interest rate hike that's likely to send the economy and markets through convulsion, without a clear line of sight at their target, heightening the risk that they'll do either too much or too little.

www.politico.com

Economic growth is projected by some analysts to have been negative in the second quarter of the year, but hiring is strong and the jobless rate sits near historic lows. Consumers say they’re unhappy about the economy but are still spending even amid the aggressive price spikes. Supply chains are improving, but manufacturing output is slowing. And Covid cases are skyrocketing again even as America fully reopens for business.

People are still reluctantly accepting job offers, but perhaps they are just spending their "extra" income to offset inflation, and even making the feds' interest rate hikes ineffective.

Our entire economy is driven by consumer spending. That's why George Bush urged Americans to go to the mall when a recession hit during his presidency.
'
The American people instead decided to lose their minds and go house shopping. Which was great, for about ten minutes.

We will never stop buying stuff. The amount of stuff we buy will rise and fall, but we will never stop.

 

[Richard-H]

So how do you propose we do that, by having Bill Gates and Elon Musk write checks to every American?

If you tax the wealthy, all you do is give more money to government. As history shows, they'll just waste it, especially if Democrats are running the show.

This discussion reminds me of Rush Limbaugh talking about when he was a child. When he didn't finish his dinner, his mother always told him there are children starving in China. After she said that one too many times, he replied by asking his mother if he finished his dinner, how would that help one starving Chinese child?

Tax the wealthy all you like, but you or I will never see one dime of it. All you'll really do is sate your hatred of the wealthy, and possibly crash the economy.

No, taxing the wealthy gives them incentive to reinvest their profits in their businesses which will create jobs and increase workers pay. They will have to take higher risks to make as much money.

This isn't new. It was all done before in the 1950s & 1960s. It works.

 

[Bootney Lee Farnsworth]

The only thing that the government can do is to create tax laws that make it beneficial for employers to hire more and pay better. It would have to be a stick rather than a carrot

So, you agree that the tax penalty for hiring should be completely removed and the names of those who introduced such nonsense stricken from history forever?

 

[Richard-H]

So, you agree that the tax penalty for hiring should be completely removed and the names of those who introduced such nonsense stricken from history forever?

What "tax penalty for hiring" are you referring to?

Whatever it is, I'm sure that the employers would take it home rather than passing it on to employees.

 

[Richard-H]

Our entire economy is driven by consumer spending. That's why George Bush urged Americans to go to the mall when a recession hit during his presidency.
'
The American people instead decided to lose their minds and go house shopping. Which was great, for about ten minutes.

We will never stop buying stuff. The amount of stuff we buy will rise and fall, but we will never stop.

I spent my tax rebate on a vacation in Canada.

 

[Richard-H]

Maybe we should make credit illegal. People should save to buy what they want.

End USURY COMPLETELY!!!!

 

[struth]

No, taxing the wealthy gives them incentive to reinvest their profits in their businesses which will create jobs and increase workers pay. They will have to take higher risks to make as much money.

This isn't new. It was all done before in the 1950s & 1960s. It works.

we had numerous recessions in the 50s, JFK was handed a recession a cut taxes

but you seem to be confusing personal income tax and corporate tax