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Not in any way to disagree, but just a comment - we really had low inflation from 83-16. I'm not arguing a correlation.Correct. I like the corporate tax cuts to keep corporations from moving out of the US, but the personal tax cuts were a mistake. Someone needs to pay the bills, I like when the folks that own 90% of everything pay up. Remember when Leona Helmsley said "only little people pay taxes"? Here is how much better the wealthy have done over time:
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Well the thread is about inflation and ecomomics. You are complaining about spending and I am asking about the effects of tax cuts. So do you know how much the tax cuts saved us with the deficit and how much debt Trump reduced in his 4 years? Yes or No, can you post the numbers or shall I?Both parties spend too much, no doubt about that. Not sure why you would even bring this up if you support Biden.
I'd say the 90th percentile, or over $1,000,000 a year. See the graph above.And the "wealthy" in your mind are those making over $400k/yr?
The brits held Trump in contempt too LOL. Your comparison was without distinction.Trump made the deadbeat "NATO allies" pay $100b, and that made NATO stronger, so said NATO Secretary Stoltenberg. So I don't care how "popular" Trump was, he was good for NATO.
'Trump is having an impact': NATO head credits president's tough talk for $100B boost
Jens Stoltenberg, the NATO secretary general, said Trump is helping the alliance adapt to "a more unpredictable world."www.usatoday.com
Did you miss my Xiden list? Maybe you don't know:
The Brits hold him in CONTEMPT
The French pulled their ambassador
He pissed off the Canadians by killing the KeystoneXL pipeline
He sold us out to Putin by approving the Nord Stream 2 pipeline giving Putin cash to modernize his military. That's why Xiden is "Putin's Whore".
Hope he enjoys the $millions the Moscow Mayor's wife sent the Bidens
Hope he enjoys the $1,500,000,000 that China gave Hunter to "invest"
As for the best economy, the unemployment rate before Covid hit was the best in about 50-years, almost the best ever.
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Trump did have the border solved, CPB sent the illegals back to Mexioco to wait for their hearing.
It was perfect. Now Xiden has millions of infected migrants invading. Total failure.
I would chose the more skilled doctor. Difference being the President is not a doctor. The President is a symbol, a communicator, a representative, a relationship builder, a commander etc etc etc. How that person communicates and fosters relationships is key element of their job and Trump was very very shitty at that.Not for a pragmatic person. Would you choose the nice, gentile surgeon who is partially blind with a terrible track record vs the surgeon with no bedside manner who can be a jerk but has a great track record. The proof is in the pudding with regards to Trump as it is with Biden. Biden seems nice, in a Walmart greeter kind of way, but that doesn't make him a good president, in fact, FAR from it.
Yes, people making over $400K a year should be considered wealthy in anybodies mindAnd the "wealthy" in your mind are those making over $400k/yr?
I'm not sure what point you're trying to make, but the tax code has the bottom 50% of incomes paying no or very little income tax. The top 10% pay about 90% of income taxes. So 50%-90% pay the other 10%.Not in any way to disagree, but just a comment - we really had low inflation from 83-16. I'm not arguing a correlation.
But IF the republican tax cuts of 1980-2017 did not cause inflation, but did at least coincide with income inequality ... then would would be wrong with tax cuts that only gave benefit to people making ..... 20K-95K?
I notice you didn't provide one counter argument or correction to anything I said. Why are you wasting time with petty insults about CNN? Thats worthless. Do betterGood God you are so confused. Too much CNN will do that to you.
You're not in tune with the political right's support of supplyside economics and that's because you have misstated what the Laffer curve is supposed to mean.Yep, the Laffer Curve is total bullshit:
Conservatives everywhere condemn the use of tax increases for fear of the Laffer Curve. This is the idea that if taxes are too high, people will lose the incentive to work and therefore tax revenue will actually decrease. It is most famous for its counter-intuitive argument that a tax cut could increase revenue. Unfortunately there is little or no evidence to support this claim. History clearly shows that cutting taxes does not increase revenue. The Laffer curve is a political idea used to justify tax cuts for the rich. It is not based on sound economics.
The Mythical Laffer Curve - Whistling In The Wind
Conservatives everywhere condemn the use of tax increases for fear of the Laffer Curve. This is the idea that if taxes are too high, people will lose the incentive to work and therefore revenue will actually decrease. It is most famous for its counter-intuitive argument that a tax cut could...whistlinginthewind.org
When Reagan cut taxes that spurred economic growth after Carter's "malaise" and "stagflation".
But that was the only time cutting taxes ever increased tax revenue.
Conservatives everywhere condemn the use of tax increases for fear of the Laffer Curve.
Well, I suppose then, do you disagree that the gop tax cuts of 80-2020 caused the wealth inequality that your graphs showed?I'm not sure what point you're trying to make, but the tax code has the bottom 50% of incomes paying no or very little income tax. The top 10% pay about 90% of income taxes. So 50%-90% pay the other 10%.
Xiden's tax increase hits the 75% and up income tax brackets.
What hits the lower incomes is inflation. The cost of everything will be climbing up to unaffordability, then when no one buys stuff the economy crashes into recession.
And conservatives also believe that corporate tax cuts raise tax revenue to government.Correct. I like the corporate tax cuts to keep corporations from moving out of the US,
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1. Link that the Brits held Trump in contempt. I call bullshit.The brits held Trump in contempt too LOL. Your comparison was without distinction.
But sure, without covid, my guess is Trump would not have lost the election, which he did lose. But you are really off topic with this.
I provided a LINK!! You provide BULLSHIT. Thanks for playing.And conservatives also believe that corporate tax cuts raise tax revenue to government.
You blew it so completely on the Laffer curve that it's a wonder you're still trying to make some point on economics in general.
I don't ever recall between 1980 and 2020 that there was ever a discussion on "income inequality" or "equity". The wealthy donate to politicians and they get rewarded with tax cuts. That's just the way it worked. Could the tax cuts have made the wealth disparity? Maybe it helped, but the stock market creates wealth too, so if you have money to invest you gain wealth. Most in the bottom half of incomes live hand-to-mouth with no investments. Small businesses are the driver of the US economy, some succeed, and some fail, that's capitalism.Well, I suppose then, do you disagree that the gop tax cuts of 80-2020 caused the wealth inequality that your graphs showed?
Why was it again that you think conservatives FEAR the Laffer curve?I provided a LINK!! You provide BULLSHIT. Thanks for playing.
Yes, people making over $400K a year should be considered wealthy in anybodies mind
remember the trump in a diaper balloon. LOL1. Link that the Brits held Trump in contempt. I call bullshit.
2. Off-topic? You can't debate a dem without having Trump brought into the discussion, it just doesn't happen
1. Trump had the best economy in history before Covid hit. Record low unemployment and increasing wages.
2. Trump had the southern border solved
3. Trump developed vaccines in record time
4. Trump brought jobs back to the US
4. Trump's promises kept list is an amazing accomplishment
Well, wealth dispartity was an issue, but apparently not one you paid attention to.I don't ever recall between 1980 and 2020 that there was ever a discussion on "income inequality" or "equity". The wealthy donate to politicians and they get rewarded with tax cuts. That's just the way it worked. Could the tax cuts have made the wealth disparity? Maybe it helped, but the stock market creates wealth too, so if you have money to invest you gain wealth. Most in the bottom half of incomes live hand-to-mouth with no investments. Small businesses are the driver of the US economy, some succeed, and some fail, that's capitalism.
That said, Trump governed as a conservative.
So I'm not sure what you mean he was an "actor".
