Why Biden's ignorance of economics i.e. lack of common sense caused inflation now of over 8%!

[DBA]

Damn near every economist would agree, raising the corporate tax would slow the rate of inflation. I mean it is some simple ass shit. Higher corporate taxes mean less retained earnings which means less business investment thereby slowing down this train.

Wait, I bet you believe those corporations will just pass on the higher tax to their customers, LMAO. And you are the one slinging around words like economic illiterate. The bulk of the cost of those higher taxes would be paid by the very same people that got the bulk of the benefit of Trump's corporate tax cut--the shareholders. It is like, Du Huh.

The economic illiteracy of the left is astounding. Tell us again how this inflation is transitory. It is no wonder the losers all vote for Democrats...absolutely no common sense.

I mean I suppose if crashing the economy to decrease inflation is the goal, that is one way to do it.

Absolute morons. I surely hope you folks aren't in control of anybody's money but your own.

 

[AntonToo]

What I said was the raising corporate taxes would not decrease inflation as Biden suggested. Do you really want to argue that point?

...did you read my post?

Just in case you still don't get it:

Raising (effective) taxes is generally contractionary policy and as such would reduce inflation and GDP.

 

[DBA]

...did you read my post?

Just in case you still don't get it:

Raising (effective) taxes is generally contractionary policy and as such would reduce inflation and GDP.

What happens to the supply side of the economy when corporate taxes are raised? I guess if they raised taxes high enough they could push the economy into a recession and inflation would decrease. That's quite brilliant.

Stagflation is likely on the way thanks to the bozos running the show.

I wouldn't listen to the folks that told you that this inflation was transitory and that this economy would have a soft landing. Those of us with common sense knew better from the start. Bad policies up and down the line are at fault for our current situation. Biden will be very lucky to notch a place just above Jimmy Carter before it is all said and done.

 

[AntonToo]

What happens to the supply side of the economy when corporate taxes are raised? I guess if they raised taxes high enough they could push the economy into a recession and inflation would decrease.

It's the opposite of lowering taxes, isn't it?

What happened when tax rate was drastically lowered? Did you notice any price cuts? Hell no.

But the investors and stock holders sure got their windfalls.

 

[DBA]

It's the opposite of lowering taxes, isn't it?

What happened when tax rate was drastically lowered? Did you notice any price cuts? Hell no.

But the investors and stock holders sure got their windfalls.

Ah, and now the real truth comes out. Everything is filtered through a “hate the rich” and ”hate corporations“ lense.

Anyway, what I noticed that when taxes were cut was that the average income at every economic level rose. Prices didn’t go up, therefore consumers had more buying power. Yes, the wealthy continue to flourish as well.

It seems an awful lot like pure jealously drives the agenda of the left. They can’t stand the fact that ”rich” guy gets a small tax cut which amounts to a larger dollar amount than the average or poor guy who got a larger cut but saw a smaller dollar amount. This all despite the fact that the “rich” guy pays taxes at a higher percentage overall anyway, even after cuts.

Ex: For the “rich” guy, a car(government services) cost 100k. For the “poorer” guy, the same exact car cost 50k. A 25% discount is offered to the “rich” guy saving him 25k, making the car now 75k. The “poorer” guy receives a 20% discount saving him 10k making the car now 40k. The “poorer” guy is pissed that the “rich” guy got a larger discount despite the fact that he is still paying 61% more for the exact same car.

 

[AntonToo]

Ah, and now the real truth comes out. Everything is filtered through a “hate the rich” and ”hate corporations“ lense.

Anyway, what I noticed that when taxes were cut was that the average income at every economic level rose. Prices didn’t go up, therefore consumers had more buying power. Yes, the wealthy continue to flourish as well.

It seems an awful lot like pure jealously drives the agenda of the left. They can’t stand the fact that ”rich” guy gets a small tax cut which amounts to a larger dollar amount than the average or poor guy who got a larger cut but saw a smaller dollar amount. This all despite the fact that the “rich” guy pays taxes at a higher percentage overall anyway, even after cuts.

Ex: For the “rich” guy, a car(government services) cost 100k. For the “poorer” guy, the same exact car cost 50k. A 25% discount is offered to the “rich” guy saving him 25k, making the car now 75k. The “poorer” guy receives a 20% discount saving him 10k making the car now 40k. The “poorer” guy is pissed that the “rich” guy got a larger discount despite the fact that he is still paying 61% more for the exact same car.

Economic effects are not pro or anti rich.

 

[flack]