Don’t let republicans or polls fool you: the economy is doing well under Biden

[HeyNorm]

gas is still over 3 bucks a gallon and rising .. food prices are still sky high .. mortgage rates are through the roof .. car insurance has increased nearly 20% along with the average electrical bill .. and the border is a mess ... and war is breaking out across the world .

But other than that, and crime through the roof, everything is pretty swell.

 

[Vrenn]

Wrong again, my good friend!

In 1971, President Nixon went on TV and froze prices AND WAGES. It was an absolute disaster.

"On Aug. 15, 1971, in a nationally televised address, Nixon announced, 'I am today ordering a freeze on all prices and wages throughout the United States.'”

"After a 90‐day freeze, increases would have to be approved by a “Pay Board” and a “Price Commission,” with an eye toward eventually lifting controls — conveniently, after the 1972 election."

https://www.cato.org/commentary/remembering-nixons-wage-price-controls

If you actually read your cite you would be aware that Congress gave him the power and needed a way to wrench it back from him. It was all political and continues to even today. And during the time after, CEOs went from 16 times the annual income to over 400 times.

 

[Man With A Plan]

I assume your answer is government spending, but that’s only one aspect of it. If that was the main problem, we would have an inflation problem every year regardless of who was in charge. Hell Trump added 8.4 trillion to the debt. The main driver of the current inflation issue were supply problems during the pandemic. Then of course there were corporations intentionally charging more but pretended inflation was the problem.

I’m not sure who asked you to give credit to Biden for those specific jobs but I’m guessing no one actually did.

Come on Billy...you know as well as I do that every time President Potato Head tries to tout his administration's "accomplishments" the number one talking point is that 15 million jobs were "created" during his administration...the most jobs in the shortest amount of time! Of course that number is total bullshit and anyone with a functioning brain knows it...but when you've done as few good things as the Biden Administration you're going to start grasping at straws!

The number one cause of inflation? Too much money chasing too few goods. All of Joe Biden's policies of give aways simply means more government money printing and more money in the system...hence more inflation! He was warned about run away inflation by Larry Summers...about as liberal an economist as there is but as usual Joe did what Joe does...he fucked up! There were supply chain issues but a major part of that is the Biden Administration's putting Mayor Pete in charge of Transportation...who then took a three months "maternity leave" while the country was going through the worst supply chain problem in our nation's history!

 

[Markle]

I look forward to the data supporting each of these claims.

Show off your brilliance and show us all where the figures are not accurate.

If you actually read your cite you would be aware that Congress gave him the power and needed a way to wrench it back from him. It was all political and continues to even today. And during the time after, CEOs went from 16 times the annual income to over 400 times.

Thanks you for confirming that my figures are accurate.

The massive increase in CEO pay packages had nothing to do with President Nixon or the freeze.

As you know, President Clinton wanted a cap on CEO salaries. He enacted one against the advice of his economic advisers, and it backfired terribly.

The Executive Pay Cap That Backfired

A while back, Congress voted to curb soaring compensation for corporate officers by limiting tax deductions. Here’s how it went wrong.

www.propublica.org

Economic Policy
Bill Clinton tried to limit executive pay. Here’s why it didn’t work.
By Dylan Matthews
August 16, 2012

You probably know that executive compensation has skyrocketed over the past 20 years. In 1991, the average CEO took in $2.6 million in total compensation. By 2011, that number had risen to $9 million. What you probably don't know is that this rise occurred in spite of changes in the tax code meant to stop it.

In 1993, Bill Clinton signed into law his first budget, which created section 162(m) of the Internal Revenue Code. The provision stated that companies could only deduct the first $1 million of compensation for their top five (later top four after changes by Bush's SEC) executives from their corporate taxes. The idea was to discourage companies from paying in excess of $1 million, as any additional compensation would be taxed. So why didn't it work?

https://www.washingtonpost.com/news/wonk/wp/2012/08/16/bill-clinton-tried-to-limit-executive-pay-heres-why-it-didnt-work/

 

[Harpy Eagle]

Show off your brilliance and show us all where the figures are not accurate.

Just as soon as you provide the data behind them.

 

[citygator]

Heritage Expert: Americans Have Lost $4,200 in Annual Income Under The Biden Administration

WASHINGTON—New economic numbers show that the average American has lost the equivalent of $4,200 in annual income under the Biden administration because of inflation and higher interest rates.

www.heritage.org

How stupid are you? Wages spiked in 2020 and inflation in 2021. You’re even with 2019. 2020 numbers they compare it to are FAKE Covid stimulus supported incomes that you all complain about.

WAGES ARE UP TO 2019 IN REAL DOLLARS.

 

[22lcidw]

If you actually read your cite you would be aware that Congress gave him the power and needed a way to wrench it back from him. It was all political and continues to even today. And during the time after, CEOs went from 16 times the annual income to over 400 times.

We cut the final tie to gold with the post war agreement that gave us the world's reserve currency. All the 1960's social programs ramped up. The Viet Nam War, the Great Society and the Moon Program cost money. Treasury bonds became due from earlier era. This is when we officially lost control of the Fiat Currency and moved from a Creditor Nation to a Debtor Nation. 1913 hit home.

 

[yidnar]

How stupid are you? Wages spiked in 2020 and inflation in 2021. You’re even with 2019. 2020 numbers they compare it to are FAKE Covid stimulus supported incomes that you all complain about.

WAGES ARE UP TO 2019 IN REAL DOLLARS.

bull ! the cost of living , fuel , rent , food , insurance , electricity ect ... has far outpaced any wage growth .

 

[Markle]

How stupid are you? Wages spiked in 2020 and inflation in 2021. You’re even with 2019. 2020 numbers they compare it to are FAKE Covid stimulus supported incomes that you all complain about.

WAGES ARE UP TO 2019 IN REAL DOLLARS.

 

[Leo123]

The economy doesn’t have to be perfect to be doing well. Given that logic, why do you excuse the economy losing 3 million jobs under Trump?

Government created jobs don't count. They cost US.

 

[Markle]

The economy doesn’t have to be perfect to be doing well. Given that logic, why do you excuse the economy losing 3 million jobs under Trump?

 

[Markle]

lol inflation in general is cooling. The pandemic is what created the problem in the first place. That started going up in Trump’s final year.

 

[citygator]

bull ! the cost of living , fuel , rent , food , insurance , electricity ect ... has far outpaced any wage growth .

No. No it hasn’t. Not since 2019. You have to be a moron to compare 2020 as the baseline

 

[yidnar]

No. No it hasn’t. Not since 2019. You have to be a moron to compare 2020 as the baseline

wow !

 

[dudmuck]

Because I was better off with Trump. Biden is China's whore.

have you seen how crappy the Chinese economy has been lately?

 

[JusticeHammer]

No. No it hasn’t. Not since 2019. You have to be a moron to compare 2020 as the baseline

Yes yes it has. Dumbass

 

[citygator]

bull ! the cost of living , fuel , rent , food , insurance , electricity ect ... has far outpaced any wage growth .

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

 

[citygator]

Yeah, how many decades will it be before wages increase by 30% to break even with the increase in groceries?

Now do vs 2019. 2020 was full of stimulus and covid crashed prices. You are a fucking moron if you let them lie to you like that to get your loyalty. Don’t be a stooge. Be smart. Look at real data not a fucking meme that uses stimulus enhanced salaries and lock down prices,

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

 

[yidnar]

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

View attachment 920006

Bull

More in U.S. Say Inflation Is Causing Financial Hardship

Three in five Americans say recent price increases have caused them financial hardship. Inflation is mentioned most often as their No. 1 financial problem.

news.gallup.com

 

[JusticeHammer]

Now do vs 2019. 2020 was full of stimulus and covid crashed prices. You are a fucking moron if you let them lie to you like that to get your loyalty. Don’t be a stooge. Be smart. Look at real data not a fucking meme that uses stimulus enhanced salaries and lock down prices,

Workersâ Paychecks Are Growing More Quickly Than Prices

Most workers’ wages are growing more quickly than prices, and the economic recovery following the COVID-19 recession has featured historically strong real wage growth.

www.americanprogress.org

View attachment 920007

Kinda goes along with the lie the job losses were Trump's fault not the engineered pandemic. Demscum lie.