Dadoalex
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For a president who believes in "Trickle down economics" has failed...tell that to hourly wage workers...
- Thread starter healthmyths
- Start date
- Sep 19, 2011
- 28,462
- 10,041
- 900
- Thread starter
- #42
Just a simple question for those simpletons that don't believe...(Not think because they don't!) that
"trickle down economics" doesn't work.
What does "wealthy person" spend for more that the poor?
finance.yahoo.com
Do wealthy people physically make or provide the 8 things the "Rich Spend money on"?
I know, I know... it's a simple answer!
By the way...
There were 24.5 million millionaires in the U.S. in 2022.
And only 21% of them inherited money. Here are some places where the genuinely rich keep their money.
Studies indicate that millionaires may have, on average, as much as 25% of their money in cash.
finance.yahoo.com
Hmmm.... so what do the banks do with the billions in cash in their banks? Hmmm... lend it...right?
I can go on... but hopefully idiots like Biden who by the way "benefits" by trickle down economics personally,
can understand how the USA economy works.
"trickle down economics" doesn't work.
What does "wealthy person" spend for more that the poor?
8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
According to the 2022 Schwab Modern Wealth Survey, Americans consider people with net worths of around $2.2 million to be wealthy and those with net worths of $774,000 to be financially comfortable....
8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
- Healthy Food
- High-Quality Products
- Experiences and Events
- Pets
- Retirement
- Education
- Healthcare Bills
- Frequent Vacations
Do wealthy people physically make or provide the 8 things the "Rich Spend money on"?
I know, I know... it's a simple answer!
By the way...
There were 24.5 million millionaires in the U.S. in 2022.
And only 21% of them inherited money. Here are some places where the genuinely rich keep their money.
Where Do Millionaires Keep Their Money and What Do They Invest In? | SmartAsset
High-net-worth individuals put money into different assets, including stocks, mutual funds and retirement accounts. Here's where rich people keep money.
smartasset.com
Study: US Cities Where Population Has Decreased the Most in 2023
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not … Continue reading → The post...
I can go on... but hopefully idiots like Biden who by the way "benefits" by trickle down economics personally,
can understand how the USA economy works.
Concerned American
Diamond Member
Biden doesn't understand what to do when his bowels work.Just a simple question for those simpletons that don't believe...(Not think because they don't!) that
"trickle down economics" doesn't work.
What does "wealthy person" spend for more that the poor?
8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
According to the 2022 Schwab Modern Wealth Survey, Americans consider people with net worths of around $2.2 million to be wealthy and those with net worths of $774,000 to be financially comfortable....8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
Now the simple question.
- Healthy Food
- High-Quality Products
- Experiences and Events
- Pets
- Retirement
- Education
- Healthcare Bills
- Frequent Vacations
Do wealthy people physically make or provide the 8 things the "Rich Spend money on"?
I know, I know... it's a simple answer!
By the way...
There were 24.5 million millionaires in the U.S. in 2022.
And only 21% of them inherited money. Here are some places where the genuinely rich keep their money.
Studies indicate that millionaires may have, on average, as much as 25% of their money in cash.Where Do Millionaires Keep Their Money and What Do They Invest In? | SmartAsset
High-net-worth individuals put money into different assets, including stocks, mutual funds and retirement accounts. Here's where rich people keep money.smartasset.com
Hmmm.... so what do the banks do with the billions in cash in their banks? Hmmm... lend it...right?Study: US Cities Where Population Has Decreased the Most in 2023
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not … Continue reading → The post...
I can go on... but hopefully idiots like Biden who by the way "benefits" by trickle down economics personally,
can understand how the USA economy works.
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?
And the CEO's pay went up 1322%.
Liar.
dudmuck
Diamond Member
8 things the rich spend money on?Just a simple question for those simpletons that don't believe...(Not think because they don't!) that
"trickle down economics" doesn't work.
What does "wealthy person" spend for more that the poor?
8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
According to the 2022 Schwab Modern Wealth Survey, Americans consider people with net worths of around $2.2 million to be wealthy and those with net worths of $774,000 to be financially comfortable....8 Things the Rich Spend Money on That Poor and Middle Class People Don’t
Now the simple question.
- Healthy Food
- High-Quality Products
- Experiences and Events
- Pets
- Retirement
- Education
- Healthcare Bills
- Frequent Vacations
Do wealthy people physically make or provide the 8 things the "Rich Spend money on"?
I know, I know... it's a simple answer!
By the way...
There were 24.5 million millionaires in the U.S. in 2022.
And only 21% of them inherited money. Here are some places where the genuinely rich keep their money.
Studies indicate that millionaires may have, on average, as much as 25% of their money in cash.Where Do Millionaires Keep Their Money and What Do They Invest In? | SmartAsset
High-net-worth individuals put money into different assets, including stocks, mutual funds and retirement accounts. Here's where rich people keep money.smartasset.com
Hmmm.... so what do the banks do with the billions in cash in their banks? Hmmm... lend it...right?Study: US Cities Where Population Has Decreased the Most in 2023
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not … Continue reading → The post...
I can go on... but hopefully idiots like Biden who by the way "benefits" by trickle down economics personally,
can understand how the USA economy works.
Healthy Food, and then Healthcare Bills.
Hmm, i think if youre not eating healthy food, then your health will be bad and bills for healthcare go up. This does not bode well for our well being if only rich people eat healthy.
But back to reality.. Normal people buy all those 8 things, but in some cases not as much or not as frequently.
back to the topic. Trickle down economics is supply-side economics, which is giving assistance to the supply side. But what we've learned in the past decades is that employers hire and pay workers based on demand, consumer demand. Companies arent gonna hire more workers just because they have a bunch of extra cash lying around. They are going to hire because they are forced to because of demand. Which becomes demand-side economics.
What has trickle down done? It has raised our GINI index. If you dont know what GINI index is, its a number representing income inequality. I could post a graph on it to show its increase, but i will refrain for now
But what we've learned in the past decades is that employers hire and pay workers based on demand, consumer demand. Companies arent gonna hire more workers just because they have a bunch of extra cash lying around.
Exactly! When you punish suppliers, demanders always benefit.
Just look what that has done for housing in New York City.
Good thing I just got a 20%raise.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.
- Sep 19, 2011
- 28,462
- 10,041
- 900
- Thread starter
- #48
8 things the rich spend money on?
Healthy Food, and then Healthcare Bills.
Hmm, i think if youre not eating healthy food, then your health will be bad and bills for healthcare go up. This does not bode well for our well being if only rich people eat healthy.
But back to reality.. Normal people buy all those 8 things, but in some cases not as much or not as frequently.
back to the topic. Trickle down economics is supply-side economics, which is giving assistance to the supply side. But what we've learned in the past decades is that employers hire and pay workers based on demand, consumer demand. Companies arent gonna hire more workers just because they have a bunch of extra cash lying around. They are going to hire because they are forced to because of demand. Which becomes demand-side economics.
What has trickle down done? It has raised our GINI index. If you dont know what GINI index is, its a number representing income inequality. I could post a graph on it to show its increase, but i will refrain for now
:max_bytes(150000):strip_icc()/gini-index-4193ad4ae63c4303b9127db662b3cc4c.jpg)
Gini Index Explained and Gini Coefficients Around the World
The Gini index, or Gini coefficient, measures income inequality in nations by determining how income is distributed across their populations.
According to a recent study, almost 24.5 million millionaires or 7.3% of population live in the U.S. today FEB 2, 2024 of 334,233,854 Americans.
How Many Millionaires Are There in the U.S.? A Look at the Statistics
How many millionaires are in the U.S.? More than you probably realize—and most of them lead pretty normal lives. Find out more here.
www.ramseysolutions.com
In 1900, there were about 4,000 millionaires or 0.01% of population in the United States of a population of 76,330,000
https://www.cnn.com/2023/09/25/investing/premarket-stocks trading/index.html#:~:text=In%201900%2C%20there%20were%20about,would%20have%20%2416%20billion%20today.
The 1900 inflation rate is lower compared to the average inflation rate of 2.96% per year between 1900 and 2024.
$100 in 1900 → 1898 | Inflation Calculator
The 0.60% inflation rate means $100 in 1898 is equivalent to $98.81 in 1900. This inflation calculator uses the official US consumer price index.
www.officialdata.org
So while inflation increased from 1900 averaged 2.96% or 367% in 124 years, the number of Millionaires increased
from 4,000 or 0.01% of US population of 76.3 million the growth of inflation adjusted millions increased to 7.32% of the 334.233 million Americans or 338% total from 1904 to 2024.
And the CEO's pay went up 1322%.
Liar.
This morning I’ve been rubbing it in peoples faces that Tennessee auto workers joined the uaw. And next Alabama. Why? Because those auto makers aren’t paying the workers fairly or treating them right.
They saw how much more Detroit auto workers made after last years strikes.
Thats what will fix the wage disparity between the ceo and workers.
I don’t need to convince a moron like you. I have a college degree and I’m paid appropriately. You say blue collar should vote Republican? I think not
- Sep 19, 2011
- 28,462
- 10,041
- 900
- Thread starter
- #51
Not all oil is the same quality and takes different refining techniques. And your uniformed comment proves your ignorance. There are also differences in how drilling takes place and where adding to the cost. For example offshore drilling is way more expensive then fracking which is more expensive then drilling in the open country. So your uninformed comment is not a lie but just plain stupid!The more we drill the more oil we ship away...when we need it. If we drilled every last drop we'd still ship a bunch of it away.
All that is just fine but if you are asking me to grovel at the feet of the big oil execs that will never happen. They're the last place I'd look for trust.Not all oil is the same quality and takes different refining techniques. And your uniformed comment proves your ignorance. There are also differences in how drilling takes place and where adding to the cost. For example offshore drilling is way more expensive then fracking which is more expensive then drilling in the open country. So your uninformed comment is not a lie but just plain stupid!
- Sep 19, 2011
- 28,462
- 10,041
- 900
- Thread starter
- #54
So if Buffett says that "trickle down" doesn't work... maybe then HE should pay more if he feels so bad..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?
more than According to ProPublica, Buffett's “true tax rate” was a mere 0.1% from 2014 to 2018.
Warren Buffett Has a 0.1% Tax Rate — How To Stop Paying So Much More Than He Does
Warren Buffett is one of the richest people on the planet, with an estimated net worth of $115 billion, according to Bloomberg. Next: How To Avoid Paying Taxes Legally -- and the 11 Craziest Ways...
Last edited:
This morning I’ve been rubbing it in peoples faces that Tennessee auto workers joined the uaw. And next Alabama. Why? Because those auto makers aren’t paying the workers fairly or treating them right.
They saw how much more Detroit auto workers made after last years strikes.
Thats what will fix the wage disparity between the ceo and workers.
I don’t need to convince a moron like you. I have a college degree and I’m paid appropriately. You say blue collar should vote Republican? I think not
I'm sure UAW membership will be wonderful for those VW workers.
Just like the USW worked for US Steel workers.
The government is always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 50 years, and I hope the American public is catching on.
So if Buffett says that "trickle down" doesn't work... maybe then HE should pay more if he feels so bad..
more than According to ProPublica, Buffett's “true tax rate” was a mere 0.1% from 2014 to 2018.
Warren Buffett Has a 0.1% Tax Rate — How To Stop Paying So Much More Than He Does
Warren Buffett is one of the richest people on the planet, with an estimated net worth of $115 billion, according to Bloomberg. Next: How To Avoid Paying Taxes Legally -- and the 11 Craziest Ways...
Warren is a big believer in paying more taxes.
That's why he gives his money to the Gates Foundation instead of to the US Treasury.
- Sep 19, 2011
- 28,462
- 10,041
- 900
- Thread starter
- #60
In 1900, there were about 4,000 millionaires or 0.01% of population in the United States of a population of 76,330,000
https://www.cnn.com/2023/09/25/investing/premarket-stocks trading/
Versus a growth of In 2022, 22,710,000 millionaires or 6.7% of total population.
A growth rate of the population of 338% or from 76.3 million to 334.2 million
A growth rate of millionaires from 4,000 millionaires in 1900 to 22,710,000 millionaires in 2022 or
(22,710,000 - 4,000 in 1900)/4,000 or 567,550%
So "trickle down" economics has contributed to almost 600,000% INCREASE in Millionaires !
Oh I'm sure inflation has affected that as in 1900 $1 million would buy what $38 million would be needed to buy
what $1 million would buy in 1900 or a 3,700% inflation over the 124 years.
https://www.cnn.com/2023/09/25/investing/premarket-stocks trading/
Versus a growth of In 2022, 22,710,000 millionaires or 6.7% of total population.
A growth rate of the population of 338% or from 76.3 million to 334.2 million
A growth rate of millionaires from 4,000 millionaires in 1900 to 22,710,000 millionaires in 2022 or
(22,710,000 - 4,000 in 1900)/4,000 or 567,550%
So "trickle down" economics has contributed to almost 600,000% INCREASE in Millionaires !
Oh I'm sure inflation has affected that as in 1900 $1 million would buy what $38 million would be needed to buy
what $1 million would buy in 1900 or a 3,700% inflation over the 124 years.
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