What did Joe Biden do to cause so much inflation, and what should Joe Biden do to curb inflation?

[BrokeLoser]

An editorial that's so stupid nobody put their name on for writing it? When will you crackpots ever learn. Besides, you already got texted

The data is everywhere…look it up.
You regressives had to put more dark people into a position of home ownership. You forced lenders to loan money to incapable filthy degenerates and you cost us legit folks billions and billions of dollars.

 

[Arlette]

The data is everywhere…look it up.
You regressives had to put more dark people into a position of home ownership. You forced lenders to loan money to incapable filthy degenerates and you cost us legit folks billions and billions of dollars.

You got grabbed

 

[JohnDB]

 

[Toddsterpatriot]

Bidenflation required drastic action.

 

[Robert W]

Has wealth trickled down on 99% of Americans or are the rich getting richer and the poor poorer? The proof is in the pudding.

It has indeed. But it is Democrats who use the term Trickle down. So let's see when Reagan was President what happens to the 5 quintiles. The lowest is entry into the job market. The top is the very highest earners. Anyway, and i know this to be a fact, every quintile improved. Even the lowest improved. Call it trickle down or up. But the fact is the economic health of the USA improved under Reagan.

We have seen even the upper quintiles have periods of having less wealth. But they still have a lot of wealth.

 

[Toddsterpatriot]

The regulations that separated commercial banking from investment banking.

How ?

Profits are privatized and risk is socialized

The regulations that separated commercial banking from investment banking.

Banks could write/buy crappy mortgages with those regulations.

Lower taxes and fewer regulations harm the average American? How?

Profits are privatized and risk is socialized

And that only happened after Reagan cut taxes?
How do higher taxes prevent that situation? What's the magic rate? How do you know?

 

[BrokeLoser]

Has wealth trickled down on 99% of Americans or are the rich getting richer and the poor poorer? The proof is in the pudding.

You regressives insist on forever expanding the underclass….you are hell-bent on importing all of Mexico’s filth….you insist that we are the dumping grounds for the world most degenerate.
No trickle-down economic policy can keep up with your expansion of fitlh.

 

[Robert W]

Has wealth trickled down on 99% of Americans or are the rich getting richer and the poor poorer? The proof is in the pudding.

Why would the poor get poorer? Inflation causes this. So again, what else makes the poor get poorer. Who wastes a lot of time measuring the poor? By the way you handed me a disagree on my Reagan explanation yet others handed me a brilliant. They got it right.

 

[Arlette]

The regulations that separated commercial banking from investment banking.

Banks could write/buy crappy mortgages with those regulations.

Lower taxes and fewer regulations harm the average American? How?

Profits are privatized and risk is socialized

And that only happened after Reagan cut taxes?
How do higher taxes prevent that situation? What's the magic rate? How do you know?

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

 

[Toddsterpatriot]

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

Spending cuts are also needed.

 

[Robert W]

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

Look at your revenue stream. Do you constantly plead with an employer to raise your income because you insist in spending far too much? Why do you place the Government first above the citizens when all Government is about is serving citizens?

When I and some other committee members handled the budget of a veyr large Real Estate Board, some members had your thinking. They figured we should constantly raise dues to members and screw them by overspending. When I first became a member of that Budget and Finance committee, those kind of members made things a mess. We had serious budget problems. We worked on spending on what was essential and stop spending on wants. After we got the Board finances repaired, more money was available to spend on wants. The Executive officer running the board day to day always wanted more money for hiring workers. We had to keep a leash on him or he would have forced us to declare bankruptcy. Fortunately for the board, me and other members put a halt to that and got the board in good fiscal health.

 

[Robert W]

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

To be blunt with you, we have far too many citizens willing to be taxed more and more and they seem not to care what the Congress spends. Do you happen to recall the vaunted Grace Commission enacted due to Reagan?

 

[Harpy Eagle]

To be blunt with you, we have far too many citizens willing to be taxed more and more and they seem not to care what the Congress spends. Do you happen to recall the vaunted Grace Commission enacted due to Reagan?

Most are not willing to pay more in taxes but they could not care less what Congress spends, and this is proven each election we have.

 

[task0778]

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

Tax cuts reduce government revenue which leads to budget deficits and increases the national debt regardless of your opinion

I believe that tax cuts will result in less revenue than if there were no tax cuts. BUT - those tax cuts are stimulative to economic growth, much the same as the stimulus checks we got from Trump and then Biden later. The whole point of both is to put more money into the hands of consumers, and you end up with better economic growth. Both lead to higher budget deficits and national debt, but the value of either policy depends on the efficacy of the cuts or checks and frankly both are also somewhat temporary. While tax cuts in particular reduces the taxation rates but you end up with a larger amount of taxable income if you do it right. So, a smaller slice of a larger pie so to speak. Would that pie be just as large without the tax cuts, or might it be smaller? And it's the same question for stimulus checks. Some might say teh Trump tax cuts were poorly done and unneeded. Others might say teh same for the Biden stimulus checks that went out in March 2021.

 

[Robert W]

Most are not willing to pay more in taxes but they could not care less what Congress spends, and this is proven each election we have.

When he was Governor of Arkansas, Mike Huckabee, to test what you told here, he decided to set up Arkansas to collect cash from the willing to be taxed. He could not find them. They could easily send more money to Arkansas but he learned they actually do not want to pay more.


https://twitter.com/GovMikeHuckabee
Gov. Mike Huckabee
@GovMikeHuckabee

When Governor of AR I created “Tax Me More” fund that ppl who wanted higher taxes could voluntarily pay to. After 1 1/2 yrs it collected just over $1000. If Bill Gates feels guilty then write a check big enough to make you feel better!

 

[Stann]

I'm not sure the answer to either. Let's discuss.

First off , Biden didn't cause it. Secondly there were multiple factors involved, COVID , shipping crisis , faster than expected rebound from the crisis and trump policies and the debt explosion that occurred while trump was in office. Experts can tell you the whole story. To get the complete picture you'd have to reach out to a lot of them in their perspective fields.

 

[Robert W]

The inflation was inevitable. Could his spending have exacerbated it? Definitely possible, but this was going to happen.

We had poured (because we pretty much had to) about $11 TRILLION total into markets in response to the Meltdown, and we all knew that it was going to cause inflation down the road. We kept interest rates artificially low for the same reason. Then COVID hit and global supply chains collapsed when global demand exploded coming out of the lockdowns. Then the goddamn Fed was about a year late in addressing the inflation adequately. By that time, the inflation had begun to feed on itself and we were screwed.

It was going to happen. The Fed has done a very good job since then, VERY good, which mitigates how pissed off I am that they waited so damn long.

Inflation could easily remain below 3.0% for 2024, and we could also have very solid growth with it. No one can predict it, though.

Would you agree that those who can't predict inflation do not understand inflation? As I see this, if they understood inflation, they could predict inflation.

 

[Mac1958]

Would you agree that those who can't predict inflation do not understand inflation? As I see this, if they understood inflation, they could predict inflation.

No. There are too many conflicting currents that can affect inflation either way. And there is no way to know if and when inflation has gone long enough and strong enough that it begins to feed on itself, which we saw happen. That's an impossible calculation, and you can only observe it after the fact.

 

[Robert W]

Then you'd better contact the financial groups I've provided lectures to and tell them that. They really seemed to agree that I'm right. Better hurry.

Analyzing and acting on this stuff -- practical application -- has been my profession for over 23 years. How about you?

It seems to me if you are right, they had no need to hear you given you said they agree you are right. Sort of like we all have watches set precisely and I say it is 1 pm and all agree. They already have watches and I gave no new input.
My problem, and please clear it up, I posted figures saying 2.3 Trillion went into the economy yet per you Biden pumped in 11 trillion. We have a problem Houston.

 

[Robert W]

No. There are too many conflicting currents that can affect inflation either way. And there is no way to know if and when inflation has gone long enough and strong enough that it begins to feed on itself, which we saw happen. That's an impossible calculation, and you can only observe it after the fact.

Have you noticed how explaining inflation varies according to who is doing the explaining?
Biden for example seems to me not to understand inflation. I think Trump was better poised to understand inflation.
Were you saying earlier that it was Trump that pumped in 11 Trillion dollars and now I would like to find out what amount you think, Biden pumped in. Also if 11 Trillion was too much, Biden by adding more went in the wrong direction. Correct?