When You Miss The Whole Point About Money....

[DGS49]

A. Democrats (e.g., the "winston" entity) never seem to grasp the difference between the QUINTILE and the individuals who are included in the quintile. To wit, speaking about what the QUINTILE does over time is not terribly relevant to real life. What is important is to follow the INDIVIDUALS who were originally in that quintile, to see where they are ten years later. Most of the people in the bottom quintile graduate to a higher quintile over time. This means that their REAL income has increased - more than by the rate of inflation - which is what one refers to as "economic mobility." It is also a strong argument to rebut the Leftist Narrative that "the rich get richer and the poor get poorer" - something that they believe as a matter of faith.

B. PC, you are being tooooooo kind to "President" Biden when you try to infer some economic logic behind the Leftist tax/spending campaign of the past two years. There is no economic plan. It is simply an attempt to purchase votes with money borrowed from China, with Exhibit A being the illegal & unconstitutional "student loan" forgiveness. There is NO ECONOMIC THEORY by which it is a good move. Nothing but attempting to buy votes.

 

[Harpy Eagle]

1.Everybody knows they are called the "tax and spend Democrats."

As opposed to "don't tax and spend just as much Repubs"

 

[Harpy Eagle]

Most of the people in the bottom quintile graduate to a higher quintile over time.

Can you provide some data to support this claim?

 

[CrusaderFrank]

9. "Joe Biden’s tax-and-spend economic agenda is the most radical plan ever
proposed by a Democratic president.

It is much bigger, costlier, and riskier than any economic plan proposed by Franklin Roosevelt, Jimmy Carter, Barack Obama, or Hillary Clinton.

Biden began by shoving a gigantic $1.9 trillion stimulus package through Congress and then immediately followed up with an even bigger “infra- structure” package, accompanied by steep tax hikes on individuals and businesses."
Spicer, Op. Cit.



10. "Biden’s American Rescue Plan worsened inflation.

Countries around the world are struggling with inflation due to pandemic disruptions, but the Biden stimulus made the US’s inflation problem more severe, to at least some extent. “I think we can say with certainty that we would have less inflation and fewer problems that we need to solve right now if the American Rescue Plan had been optimally sized,” said Wendy Edelberg, a senior fellow in economic studies at the Brookings Institution.
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Biden’s American Rescue Plan worsened inflation. The question is how much.

Was it a minor contributor or a major factor in the US’s inflation woes?

www.vox.com

This is the result when you let the Democrats do your thinking for you.



The inflation rate in Trump's last year....1.4%
Who'd you vote for?????

So far, Biden's economic plans have cost American stock holders $8 Trillion and homeowners $4 Trillion, plus some other multi Trillion loss for bond holders, pensioners etc

 

[Harpy Eagle]

So far, Biden's economic plans have cost American stock holders $8 Trillion and homeowners $4 Trillion, plus some other multi Trillion loss for bond holders, pensioners etc

those are really big numbers you pulled out of your ass, I hope it did not hurt too much

 

[CrusaderFrank]

those are really big numbers you pulled out of your ass, I hope it did not hurt too much

Seriously? Have you followed any of the financial markets?

 

[Winston]

A. Democrats (e.g., the "winston" entity) never seem to grasp the difference between the QUINTILE and the individuals who are included in the quintile. To wit, speaking about what the QUINTILE does over time is not terribly relevant to real life. What is important is to follow the INDIVIDUALS who were originally in that quintile, to see where they are ten years later. Most of the people in the bottom quintile graduate to a higher quintile over time. This means that their REAL income has increased - more than by the rate of inflation - which is what one refers to as "economic mobility." It is also a strong argument to rebut the Leftist Narrative that "the rich get richer and the poor get poorer" - something that they believe as a matter of faith.

B. PC, you are being tooooooo kind to "President" Biden when you try to infer some economic logic behind the Leftist tax/spending campaign of the past two years. There is no economic plan. It is simply an attempt to purchase votes with money borrowed from China, with Exhibit A being the illegal & unconstitutional "student loan" forgiveness. There is NO ECONOMIC THEORY by which it is a good move. Nothing but attempting to buy votes.

That is a tired old Republican canard, the idea that fact that the quintiles are fluid shows how "great" America is. What it demonstrates is the complete inability of Republican supporters to think critically. Of course, the quintiles are fluid. When your young you don't make as much as when you get older. When you hit your fifties you should be making more than at anytime in your life, at the peak of your career. So yeah, you moved up a quintile, or maybe two. Hell, you might have went from the top to the bottom. My oldest son did that in less than three years. But then, well you retire, and you might drop a quintile, or maybe two. Especially since we are talking about income. That fluidity of the quintiles does not demonstrate social mobility, it demonstrates LIFE.

Social mobility is measured by the very statistic that I posted a graph about. Rather you are better off than your parents. And in that graph, at every income level, the picture is clear. Then there is the social mobility index, being ranked in the mid 20's is sure not American exceptionalism.

Look, the Republican party's positions are driven by the Bible. Yep, I said it.

The rich man's wealth is his strong city: the destruction of the poor is their poverty. Proverbs 10:15.

That is what they do, they fortify the city, they exacerbate the poverty. Since we are speaking about quintiles, take this one. Someone from the highest quintile in income but in the lowest quintile of standardized test scores, like the SAT, has a much better chance of graduating from college than someone in the lowest quintile of income but in the highest quintile of standardized test scores. It wasn't always that way, and the reality of that situation screws every single one of us. You think it works like that in China? In India? In Germany, or Denmark, or Sweden? Yeah, sure bud does work like that in Great Britain, but damn, I thought we fought a war to get away from their ass, now we have become just like them.

The truth is "social mobility" was the driving force behind American exceptionalism, from the very beginning. Its utter destruction will be the death nail of this country. To make America "great again" we have to restore that social mobility, and I can tell you upfront, it ain't going to happen as long as the Republican party exists.

 

[PoliticalChic]

.....that's when you vote Democrat.


1.Everybody knows they are called the "tax and spend Democrats."
The NYTimes wrote this about the guy you called God, Jesus and the messiah...
"But he did identify what he called “tactical lessons.” He let himself look too much like “the same old tax-and-spend liberal Democrat.” Education of a President (Published 2010)



2. On he one hand, the Democrats and their allies in the media tell you that it's patriotic to pay taxes, and keep blaring about the rich paying 'their fair share.'
Here, in America, there is no perennial class of 'the rich.'

"...economic mobility. About 60 percent of the households that were in the lowest income quintile in 1999 were in a higher quintile ten years later. During the same decade, almost 40 percent of the richest households fell to a lower quintile. This is a nation where you can rise or fall. It is a nation where you can climb the economic ladder based not on who you are born to, or what class you are born into, but based on your talents, your passion, your perseverance, and the content of your character." https://imprimisarchives.hillsdale.edu/file/archives/pdf/2013_05_Imprimis.pdf



3. ....and they never tell you what the government's "fair share" of your earnings are.
I have posted several time about who works for whom.
In both NY and California, top earners pay over 60% of their earnings in taxes, and lots of others the same but don't realize it:
Taxes, taxation: What if you find that based on Federal taxes, state taxes, local taxes, gas tax, sales tax, parking fees, license fees, speed cameras, tolls, hidden taxes of all sorts......
....and the insidious tax, inflation.........amounted to more than half your income at least?Taxation to the point of slavery......or, at least serfdom.

"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.".Lenin

Democrats learned quite a bit from their forebears.
Weren't we taught that the government works for us?????




4. Taxes are not for infrastructure, or any of the other vague promises. They are for buying votes for the politicians.

5. And taxes hurt the working public far, far more than they help.
"... a budget deal that included a 10 percent tax on luxury items costing $100,000 or more. This tax became known as the “yacht tax.” There’s a wise old saying that Democrats repeatedly ignore: “You get less of what you tax and more of what you don’t.”

In the years before the tax was enacted, American boat builders were annually producing up to 16,000 yachts costing $100,000 or more. One year after the yacht tax was passed, that number sank to 4,250. My home state of Rhode Island lost 12,000 jobs that were directly or indirectly tied to yacht sales. My father’s yacht brokerage business was devastated—and so was I, because I worked in a boatyard during the summer, cleaning and maintaining boats. The tax took a heavy toll on my income.

The yacht tax was supposed to soak the rich. But the rich didn’t get soaked— they just stopped buying yachts. Who got hurt? Working people—people like me. From that experience, I learned the direct impact of federal tax policy on ordinary working people. That lesson cemented my conservative values at an early age. It’s one of the reasons why, when I hear Democratic proposals to tax and spend, alarms go off in my mind."
Sean Spicer, "Radical Nation"

 

[presonorek]

National debt 9/30/1980 $907,701,000,000.00
National debt 9/30/1988 $2,602,337,712,041.16 That is a 286% increase in the national debt.

National debt 9/30/1992 $4,064,620,655,521.66
National Debt 9/30/2000 $5,674,178,209,886.86 That is a 39.6% increase in the national debt.

National Debt 9/30/2000 $5,674,178,209,886.86
National Debt 9/30/2008 $10,024,724,896,912.49 That is a 76.6% increase in the national debt.

National Debt 9/30/2008 $10,024,724,896,912.49
National Debt 9/30/2012 $16,066,241,407,385.89 That is a 60.2% increase in the national debt.

What are the numbers for 2008-2016 ? This was some calculations I did while Obama was still president.

 

[presonorek]

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Lol It is called the Federal Reserve. You’d have to eliminate the Federal Reserve to print your way out of debt. We have plenty of world history to let you know what happens when you don’t have a central bank to regulate your currency.

Imagine if the US printed money and paid off all of our debt. I think anybody with even a few days of college under their belt knows how that would go.