For a president who believes in "Trickle down economics" has failed...tell that to hourly wage workers...

[healthmyths]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

 

[sealybobo]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

All those high paying blue collar jobs went overseas during the Bush years. You cheered. Remember? You hate unions.

Now those high paying blue collar manufacturing jobs are gone and those workers had to take lower paying service jobs. YOU fucked those blue collar workers first back in the 2000's. And we continue to send their jobs overseas.

And the CEO's pay went up 1322%.

We have 9 million unfilled jobs, too many baby boomers retiring and not enough workers. Do you want to get your social security? All of it?

https://www.cnn.com/2024/03/11/politics/trump-entitlements-social-security-medicare/index.html

 

[JackOfNoTrades]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

Sigh..that's not what trickle down economics was. The idea was that significant tax cuts for the highest earners and corporations would spur growth and hiring. Therefore, the effect would "trickle down" in the form of higher wages, lower prices, and lower unemployment if the top brackets got their breaks.

Whelp, that didn't happen.
(Link edited...posted wrong one)

Trickle-Down Economics: Theory, Policies, Critique

Trickle-down economics employs policies that include tax breaks and benefits for corporations and the wealthy that trickle down to benefit everyone.

www.investopedia.com

 

[marvin martian]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

The economy is the #1 issue for voters in 2024.

Meanwhile:

Since Biden took office:

Gasoline: +47.8%
Groceries: +21.1%
Restaurants: +21.4%
Baby food: +30.5%
Pet food: +23.7%
Rent: +20.9%
Electricity: +28.3%
Natural gas: +26.9%
Used cars: +20.9%
Air fare: +32.7%
Public transportation: +22.2%
Real average weekly earnings: -3.9%

 

[Oddball]

All those high paying blue collar jobs went overseas during the Bush years. You cheered. Remember? You hate unions.

Nobody cheered about that, lying asshole.

That fact gave heft to the campaigns of both Pat Buchanan and Trump, and to a lesser extent Ron Paul.

 

[sealybobo]

Nobody cheered about that, lying asshole.

That fact gave heft to the campaigns of both Pat Buchanan and Trump, and to a lesser extent Ron Paul.

I remember in the 2000's you guys did nothing but defend Bush and attack unions.

Botched policy responses to globalization have decimated manufacturing employment with often overlooked costs for Black, Brown, and other workers of color: Investing in infrastructure and rebalancing trade can create good jobs for all

The mismanaged integration of the United States into the global economy has devastated U.S. manufacturing workers and their communities. Globalization of our economy, driven by unfair trade, failed trade and investment deals, and, most importantly, currency manipulation and systematic...

www.epi.org

manufacturing lost about five million jobs in two decades, the low-wage service sector gained almost 30 million jobs Change in U.S. employment overall and for construction, manufacturing, and service industries (millions), 1998–2019​

2

	Job Change, 98-2019 (millions)
Construction	1.3
Manufacturing	-4.7
Services	28.2
Total employment	25.1

Manufacturing and construction offer good employment opportunities for the non-college-educated workers who make up nearly two thirds of the workforce

As trade deficit soared past $1 trillion, the U.S. lost more than five million manufacturing jobsManufactured goods trade deficit (billions$) and manufacturing employment (millions), 1998–2021​

 

[Oddball]

I remember in the 2000's you guys did nothing but defend Bush and attack unions.

Botched policy responses to globalization have decimated manufacturing employment with often overlooked costs for Black, Brown, and other workers of color: Investing in infrastructure and rebalancing trade can create good jobs for all

The mismanaged integration of the United States into the global economy has devastated U.S. manufacturing workers and their communities. Globalization of our economy, driven by unfair trade, failed trade and investment deals, and, most importantly, currency manipulation and systematic...

www.epi.org

manufacturing lost about five million jobs in two decades, the low-wage service sector gained almost 30 million jobs Change in U.S. employment overall and for construction, manufacturing, and service industries (millions), 1998–2019​

2

	Job Change, 98-2019 (millions)
Construction	1.3
Manufacturing	-4.7
Services	28.2
Total employment	25.1

Manufacturing and construction offer good employment opportunities for the non-college-educated workers who make up nearly two thirds of the workforce

As trade deficit soared past $1 trillion, the U.S. lost more than five million manufacturing jobsManufactured goods trade deficit (billions$) and manufacturing employment (millions), 1998–2021​

I'm not "you guys", lying asshole....And that chart proves nothing.

 

[Concerned American]

“Inflation is down but not gone,”

This line is a bunch of BS. Inflation is still here, it is not rising as fast but it is still here. Saying it is down, is like saying we're OK because we just survived a bomb attack, but at least it wasn't a nuclear bomb.

 

[marvin martian]

This line is a bunch of BS. Inflation is still here, it is not rising as fast but it is still here. Saying it is down, is like saying we're OK because we just survived a bomb attack, but at least it wasn't a nuclear bomb.

Here's the reality, which EVERY person in this country who's name isn't Biden, Obama, Clinton, or Pelosi knows VERY well:

Since Biden took office:

Gasoline: +47.8%
Groceries: +21.1%
Restaurants: +21.4%
Baby food: +30.5%
Pet food: +23.7%
Rent: +20.9%
Electricity: +28.3%
Natural gas: +26.9%
Used cars: +20.9%
Air fare: +32.7%
Public transportation: +22.2%
Real average weekly earnings: -3.9%

 

[CowboyTed]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

Trickle Down Economics is a con job...

It is a theory well debunked as Voodoo Economics...

It actually is refuted by actually economics which says the best place to give money if you want to boost an economy is the the poor. With extra money the poor spend it far quicker and thus boost the economy...

What you are doing is trying to blame Global Inflation which was pumped by the Trump Oil supply cut on Biden...
You are like a kid doing a shit on the floor and giving out to mommy that she isn't fixing it quick enough.

 

[CowboyTed]

Here's the reality, which EVERY person in this country who's name isn't Biden, Obama, Clinton, or Pelosi knows VERY well:

Since Biden took office:

Gasoline: +47.8%
Groceries: +21.1%
Restaurants: +21.4%
Baby food: +30.5%
Pet food: +23.7%
Rent: +20.9%
Electricity: +28.3%
Natural gas: +26.9%
Used cars: +20.9%
Air fare: +32.7%
Public transportation: +22.2%
Real average weekly earnings: -3.9%

Gasoline is the main driver there...

Trump cut Oil supply... Thanks for pointing that out...

https://www.reuters.com/article/idUSKBN22C1V3/

Just say it... Trump went to OPEC and got them to cut the supply... Don't worry Oil Companies have been having record profits..

Oil Giants Pump Their Way to Bumper Profits

Exxon, Chevron and Shell reported robust earnings and large payouts to investors as they continued to expand their fossil-fuel production.

www.nytimes.com

Trump was in the bag for Big Oil... MAGA, fuck the little guy...

 

[marvin martian]

Gasoline is the main driver there...

Trump cut Oil supply... Thanks for pointing that out...

https://www.reuters.com/article/idUSKBN22C1V3/

Just say it... Trump went to OPEC and got them to cut the supply... Don't worry Oil Companies have been having record profits..

Oil Giants Pump Their Way to Bumper Profits

Exxon, Chevron and Shell reported robust earnings and large payouts to investors as they continued to expand their fossil-fuel production.

www.nytimes.com

Trump was in the bag for Big Oil... MAGA, fuck the little guy...

No one outside your tiny cult believes that.

 

[Mac-7]

Trump was in the bag for Big Oil...

I am in the bag for Big Oil

Because I dont want to ride a bicycle everywhere I go and pay $20 for one tomato

 

[CowboyTed]

No one outside your tiny cult believes that.

I have shown evidence and you got fucking nothing...

Well done... Keep believing bullshit without evidence...

Trump got Oil cut globally...

OPEC and allies' oil production cut is Trump's 'biggest and most complex' deal ever: Dan Yergin

Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago "would not have seemed possible."

www.cnbc.com

Oil is a global commodity... There is no such thing as US Oil or a US Oil price..

Gasoline prices rose... Oil companies made huge amount of money...

And now they have you out here shilling for Big Oil..

 

[marvin martian]

I have shown evidence and you got fucking nothing...

Well done... Keep believing bullshit without evidence...

Trump got Oil cut globally...

OPEC and allies' oil production cut is Trump's 'biggest and most complex' deal ever: Dan Yergin

Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago "would not have seemed possible."

www.cnbc.com

Oil is a global commodity... There is no such thing as US Oil or a US Oil price..

Gasoline prices rose... Oil companies made huge amount of money...

And now they have you out here shilling for Big Oil..

No one outside your tiny cult believes that.

 

[CowboyTed]

I am in the bag for Big Oil

Because I dont want to ride a bicycle everywhere I go and pay $20 for one tomato

Yep...

You Orange God got Oil prices increased... Wasn't Biden...

You were sold one big lie... It doesn't really matter how much Oil US produces, OPEC is controlling the supply globally...

US Oil companies can ship US Oil any major port on the planet for <1c a gallon...

China Tariff War Revisited: U.S. Exports Of Oil Surged In 2023

U.S. exports of soybeans to China, an early casualty of the trade war initiated by former President Trump and continued by President Biden are up 386% since 2018.

www.forbes.com

Get it.... Trump did this... What you are complaining about, why can't Biden fix Trump's mess quick enough...
Big Problem, Trump did this and then threw away all the bargaining chips..

 

[healthmyths]

Sigh..that's not what trickle down economics was. The idea was that significant tax cuts for the highest earners and corporations would spur growth and hiring. Therefore, the effect would "trickle down" in the form of higher wages, lower prices, and lower unemployment if the top brackets got their breaks.

Whelp, that didn't happen.
(Link edited...posted wrong one)

Trickle-Down Economics: Theory, Policies, Critique

Trickle-down economics employs policies that include tax breaks and benefits for corporations and the wealthy that trickle down to benefit everyone.

www.investopedia.com

Explain to me what happened to the $1 Trillion repatriated from offshore corporate accounts that according to the "EXPERTS" generate nearly over half a Trillion in tax revenue (see below)..
What did happen then with the $1 trillion that generates the tax revenue? Did the companies pay dividends?
You know of course dividends are taxed??? Or did this build new plants, hire more people... donate money? What happened to the nearly $1 trillion repatriated from off shore foreign bank accounts after the 2017 Tax Cuts and Jobs Act?
Oh note that Payroll Taxes increase... but of course I'm 100% confident you are too ill-informed to know that employee pays 7.65% and the employer covering 7.65%.

Payroll Tax Rates (2024 Guide)

Payroll taxes are the payments you as an employer make when you run payroll for employees. They include taxes that come out of an employee’s pay plus costs you cover for federal, state and local programs. The payroll tax rate colloquially refers to the rate you pay for Social Security and Medicare t

www.forbes.com

 

[Mac-7]

You were sold one big lie... It doesn't really matter how much Oil US produces, OPEC is controlling the supply globally...

If not for libs who hate fossil fuel America could produce all the oil and gas we need

 

[Dadoalex]

The president said Wednesday that trickle-down economics “failed” Americans and that “this is the moment” the U.S. will move away from that economic theory.
“Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break,” he said.
https://thehill.com/homenews/administration/4071807-biden-bashes-trickle-down-economics/#:~:text=%E2%80%9CHere's%20the%20simple%20truth%20about,Bidenomics%20is%20about%20the%20future.

Not counting inflation, the annual growth in average hourly earnings has dropped to 4.1 percent in March 2024, down from 5.9 percent during the coronavirus turmoil on March 22, according to the Wall Street Journal.

But after counting inflation, wages in President Joe Biden’s migration-inflated economy have remained flat or dropped — especially for the many young Americans who are facing rising rents.
Indeed, many polls that show the majority of Americans reject Biden’s high-migration, low-wage “Bidenomics” economy.
Migration also spurs inflation, chiefly by driving up housing prices amid Biden’s welcome for more than 7 million southern migrants and at least 2 million legal migrants. “Inflation is down but not gone,” Georgieva said at the meeting.

Many business leaders, government agencies, and academics admit that wages are reduced by migration. They include independent academics, the National Academies of Science, the Congressional Budget Office, executives, more academics, New York Times reporters, state officials, unions, more business executives, lobbyists, employees, the Wall Street Journal, federal economists, Goldman Sachs, Goldman Sachs again, oil drillers, Wall Street analysts, fired professionals, legislators, construction workers, New York Times subscribers, Robert Rubin, and even by the Bank of Ireland.

12ft

Your understanding of "trickle-down" is limited and wholly unrelated to your OP.

 

[BluesLegend]

Over the past 3 years working people lost all their wage increases plus another 2.5% to Biden Inflation. Workers wages have gone BACKWARDS under idiot Biden and Dem policies.