Key inflation cause: Republican policy

[Markle]

Oh I'm sorry. 28%

The second tax cut (Tax Reform Act of 1986) among other things, cut the highest personal income tax rate from 50% to 38.5% but decreasing to 28% in the following years and increased the highest capital gains tax rate from 20% to 28%.

I'm saying corporate taxes paid for a lot in the 1950's. 33%. Under reagan they only paid for 9%. Sad huh?

Yes he did.

Sorry you don't like the truth from my sources. Here's another good one

Nobles Need Not Pay Taxes

A new aristocracy is taking over not just the United States of America but also the world. ... This is more than just a tax cut story.

www.thomhartmann.com

You conveniently "forgot" the part that the Democrat Congress promised to cut spending and then reneged on that promise. Revenues DOUBLED in that decade from the tax cuts.

Inflation went from 13.4% down to 4.14% during Reagan's term and 30 year mortgage rates went from 18% down to 10.3%.

 

[healthmyths]

We know what you want. You want no companies small or big to pay any taxes. If they do then they'll just pass the costs on to us. We got it!

But did you consider this? They're going to raise their prices anyways. As much as they can. And what they did pass on to you was the tax burden. So now you're paying more taxes, for them, all because you don't want them to raise their prices?

Do you Republican fools hear yourselves talking? Maybe you own corporations. Probably. Like Biden owns 20 LLC's you probably do too.

The federal government levies payroll taxes on wages and self-employment income and uses the revenue to fund Social Security, Medicare, unemployment insurance, and other social insurance programs. Payroll taxes have become an increasingly important part of the federal budget over time, as the chart below shows. In fiscal year 2021, federal payroll taxes generated $1.3 trillion, which amounted to 5.8 percent of the nation’s gross domestic product (GDP),
or 32.5 percent of all federal revenues.... paid by Employers!

Policy Basics: Federal Payroll Taxes | Center on Budget and Policy Priorities

Payroll taxes have become an increasingly important part of the federal budget over time.

www.cbpp.org

I am 100% confident that most of you are truly ignorant of this REALITY! You have NO idea that Employers pay also 6.2% of employees wages.

But I know most of you have NO idea that nearly $650 Billion is paid by employers for SS and Medicare!

 

[Markle]

The federal government levies payroll taxes on wages and self-employment income and uses the revenue to fund Social Security, Medicare, unemployment insurance, and other social insurance programs. Payroll taxes have become an increasingly important part of the federal budget over time, as the chart below shows. In fiscal year 2021, federal payroll taxes generated $1.3 trillion, which amounted to 5.8 percent of the nation’s gross domestic product (GDP),
or 32.5 percent of all federal revenues.... paid by Employers!

Policy Basics: Federal Payroll Taxes | Center on Budget and Policy Priorities

Payroll taxes have become an increasingly important part of the federal budget over time.

www.cbpp.org

I am 100% confident that most of you are truly ignorant of this REALITY! You have NO idea that Employers pay also 6.2% of employees wages.

But I know most of you have NO idea that nearly $650 Billion is paid by employers for SS and Medicare!

As you know, not a dime is paid by employers. Every dime "paid" by employers is the worker's money. Don't think so? Then look at the amount paid by self-employed workers.

 

[bripat9643]

Clearly you have no idea what a tax is because everyone pays a lot of them.. no one pays zero. Except maybe all the dead trump voters.

Not true. People who work for the government get paid taxes.

 

[abu afak]

The inflation of 2021/2022 is undoubtably the result of key Republican policy failures specific to the workforce and oil pricing. These two Republican pressures behind the worldwide supply availability are the three direct causes of inflation. Mic drop.

1. Labor shortage - 3.5M deficit in workers

1. Declining immigration
2. Covid deaths
3. Early retirees due to safety

2. Gas prices

1. Oil rig shut downs during Trump - over 600
2. Negotiated reduction in OPEC - over 2M B/D

3. World wide supply shortage

1. This is not the pubs fault as it’s affected every country.

Irrefutable Data:

Baby boomers still quitting in droves, not taking new jobs | Fortune

During the Great Recession, workforce participation among the 55-and-older cohort grew 1%. The past three years have seen a 1.9% decline among boomers.

fortune.com

Their exit is causing a ripple effect. Between early retirees, “a surge in deaths,” and a decline in immigration, the American labor force is missing about 3.5 million people, Fed chair Jerome Powell said in late November. The excess retirements in particular “might now account for more than 2 million of the 3 ½ million shortfall in the labor force,” he said. Experts worry the shortfall could make it harder to tame inflation.

Oil rigs in use at the end of January:

View attachment 743240

View attachment 743244

You forgot the Trump Tax Cut while also Ballooning Military spending.
And he got 3 free passes on raising the debt ceiling.
Where was the complete control GOP in his first 2 years, did they Cut anything?

If they want to cut the deficit 4 Trillion, they can get HALF back just reversing the Unneeded Trump tax Cut THEY voted for.

`

 

[sealybobo]

The federal government levies payroll taxes on wages and self-employment income and uses the revenue to fund Social Security, Medicare, unemployment insurance, and other social insurance programs. Payroll taxes have become an increasingly important part of the federal budget over time, as the chart below shows. In fiscal year 2021, federal payroll taxes generated $1.3 trillion, which amounted to 5.8 percent of the nation’s gross domestic product (GDP),
or 32.5 percent of all federal revenues.... paid by Employers!

Policy Basics: Federal Payroll Taxes | Center on Budget and Policy Priorities

Payroll taxes have become an increasingly important part of the federal budget over time.

www.cbpp.org

I am 100% confident that most of you are truly ignorant of this REALITY! You have NO idea that Employers pay also 6.2% of employees wages.

But I know most of you have NO idea that nearly $650 Billion is paid by employers for SS and Medicare!

I know how they’ve cut into our share over the years. Originally it was sold to us as 401k, pension, full social security at 65 and Medicare

 

[Markle]

You forgot the Trump Tax Cut while also Ballooning Military spending.
And he got 3 free passes on raising the debt ceiling.
Where was the complete control GOP in his first 2 years, did they Cut anything?

If they want to cut the deficit 4 Trillion, they can get HALF back just reversing the Unneeded Trump tax Cut THEY voted for.

As you know, REVENUES INCREASED.

As you know too, with increased spending on defense, there were no new wars, and President Putin stayed out of Ukraine. Please remember that President Obama allowed Putin to "annex" Crimea.

But please, don't let facts boggle your mind.

 

[abu afak]

As you know, REVENUES INCREASED.
As you know too, with increased spending on defense, there were no new wars, and President Putin stayed out of Ukraine. Please remember that President Obama allowed Putin to "annex" Crimea.

But please, don't let facts boggle your mind.

LOL
Any spending Trumpov Budgeted for the Military is Still probably only 1/2 spent, IF THAT.
Things like Ships, advanced, jets, etc. No effect on Ukraine/Putin's planned 48 hour folly.
LOFL.

Spending/Taxes is a NET calculation.
Trumpov (an infamous, life-long, Non-paying Borrower) is responsible for 1/4 of the debt all alone. $8 Trillion.

I'm in finance, you're in MAGA.

`
`

 

[Markle]

LOL
Any spending Trumpov Budgeted for the Military is Still probably only 1/2 spent, IF THAT.
Things like Ships, advanced, jets, etc. No effect on Ukraine/Putin's planned 48 hour folly.
LOFL.

Spending/Taxes is a NET calculation.
Trumpov (an infamous, life-long, Non-paying Borrower) is responsible for 1/4 of the debt all alone. $8 Trillion.

I'm in finance, you're in MAGA.

Here's the REALITY! Not that reality matters to you.

The COVID-19 pandemic cost the U.S. economy $14 trillion, new research finds​

BY JAKUB HLÁVKA, ADAM ROSE AND THE CONVERSATION
May 16, 2023 at 12:24 PM EDT

The COVID-19 pandemic cost the U.S. economy $14 trillion, new research finds

At the height of the pandemic, the survey indicates that airline travel fell by nearly 60%, indoor dining by 65% and in-store shopping by 43%.

fortune.com

 

[abu afak]

Here's the REALITY! Not that reality matters to you.

The COVID-19 pandemic cost the U.S. economy $14 trillion, new research finds​

BY JAKUB HLÁVKA, ADAM ROSE AND THE CONVERSATION
May 16, 2023 at 12:24 PM EDT

The COVID-19 pandemic cost the U.S. economy $14 trillion, new research finds

At the height of the pandemic, the survey indicates that airline travel fell by nearly 60%, indoor dining by 65% and in-store shopping by 43%.

fortune.com

So NO rebuttal to my Specific points at all.
(Least needed Tax cut in history passed at 4.3% unemployment, Huge Military spending, Ukraine, the all-GOP first two years didn't cut any spending, etc)
Just an article on C19.
Bonus:

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years​

January 2021
ProPublica

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

www.propublica.org

`

 

[sealybobo]

You do realize that your post makes no sense, whatsoever.

I just know you Republicans will spin it the way you want. But in the end, I don't want Republicans in charge of my government. They aren't socialist enough. They aren't pro labor. They aren't pro environment. They aren't pro choice or pro science.

 

[The5thHorseman]

The inflation of 2021/2022 is undoubtably the result of key Republican policy failures specific to the workforce and oil pricing. These two Republican pressures behind the worldwide supply availability are the three direct causes of inflation. Mic drop.

1. Labor shortage - 3.5M deficit in workers

1. Declining immigration
2. Covid deaths
3. Early retirees due to safety

2. Gas prices

1. Oil rig shut downs during Trump - over 600
2. Negotiated reduction in OPEC - over 2M B/D

3. World wide supply shortage

1. This is not the pubs fault as it’s affected every country.

Irrefutable Data:

Baby boomers still quitting in droves, not taking new jobs | Fortune

During the Great Recession, workforce participation among the 55-and-older cohort grew 1%. The past three years have seen a 1.9% decline among boomers.

fortune.com

Their exit is causing a ripple effect. Between early retirees, “a surge in deaths,” and a decline in immigration, the American labor force is missing about 3.5 million people, Fed chair Jerome Powell said in late November. The excess retirements in particular “might now account for more than 2 million of the 3 ½ million shortfall in the labor force,” he said. Experts worry the shortfall could make it harder to tame inflation.

Oil rigs in use at the end of January:

View attachment 743240

View attachment 743244

Predictably your fact intensive post, complete with evidence, has drawn rebukes from people incapable of handling the Truth.

 

[The5thHorseman]

They won't listen or admit anything.

U.S. crude oil exports and refined product exports are both are record highs, at 3.4 million bpd and 3 million bpd respectively. Meanwhile, crude oil imports are declining, falling to 1.1 million bpd in November compared to 7 million bpd five years ago.Dec 20, 2022

The U.S. Could Become A Net Oil Exporter In 2023​

https://oilprice.com › Energy › Energy-General





About featured snippets•

Feedback

U.S. poised to become net exporter of crude oil in 2023 | Reuters​

https://www.reuters.com › business › energy › us-poised-...


Dec 19, 2022 — HOUSTON, Dec 19 (Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not ...

I love how they hiss down the facts...

 

[The5thHorseman]

Lol, blame the Republicans, but Biden has yet to fix it. Only to make it worse. Another point, everything was good till Biden took over.

For example?

 

[jknowgood]

For example?

Inflation.

 

[citygator]

Inflation.

Highest unemployment since Great Depression, reduced GDP, dying Americans, closed businesses, historic deficits, reduced oil output in US, caved to OPEC output, supply chain in shambles, 3 times raised the debt ceiling without blinking…. Yea, lovely times.

 

[skye]

 

[Redfish]

/----/ So, corporations made no profits when inflation was 1.5% -- got it.

its amazing how dumb bobo is, that's why I have him/her/it on ignore.

 

[Redfish]

The federal government levies payroll taxes on wages and self-employment income and uses the revenue to fund Social Security, Medicare, unemployment insurance, and other social insurance programs. Payroll taxes have become an increasingly important part of the federal budget over time, as the chart below shows. In fiscal year 2021, federal payroll taxes generated $1.3 trillion, which amounted to 5.8 percent of the nation’s gross domestic product (GDP),
or 32.5 percent of all federal revenues.... paid by Employers!

Policy Basics: Federal Payroll Taxes | Center on Budget and Policy Priorities

Payroll taxes have become an increasingly important part of the federal budget over time.

www.cbpp.org

I am 100% confident that most of you are truly ignorant of this REALITY! You have NO idea that Employers pay also 6.2% of employees wages.

But I know most of you have NO idea that nearly $650 Billion is paid by employers for SS and Medicare!

small correction. medicare and SS are not payroll taxes, they are payments into a fund that we can pull from later. At least that's what they were before the dems destroyed them under LBJ.

 

[Cellblock2429]

its amazing how dumb bobo is, that's why I have him/her/it on ignore.

/——/ I don’t put libtards on ignore. It’s too dangerous to let their lies, distortions and propaganda go unchallenged.