Why don’t republicans seem to understand the consequences of tax cuts?

[Markle]

Lest we forget $4 trillion (at least) of "quantitative" money printing, pumped directly into Wall Street.

CHIMPY BUSH DID IT!

During this time we had the Democrat-caused housing/mortgage/financial collapse.

Please show us the $4 TRILLION of printed money.

Monetary Base; Total

Graph and download economic data for Monetary Base; Total (BOGMBASE) from Jan 1959 to Jun 2024 about monetary base and USA.

fred.stlouisfed.org

 

[Toddsterpatriot]

Tax comes from GDP. If GDP rises or falls, so does revenue. They are interconnected.

They tend to move in the same direction.
But the government collects and spends dollars, not GDP.

 

[Toddsterpatriot]

Already provided, Toddster.

Don't run away now!

 

[The5thHorseman]

Don't run away now!

Toddster,

I did...

I provided the estimate of Daniel Mitchell of Cato.

 

[The5thHorseman]

During this time we had the Democrat-caused housing/mortgage/financial collapse.

Please show us the $4 TRILLION of printed money.

Monetary Base; Total

Graph and download economic data for Monetary Base; Total (BOGMBASE) from Jan 1959 to Jun 2024 about monetary base and USA.

fred.stlouisfed.org

Where do they find you people?

 

[healthmyths]

Lol what? Um okay.

You have absolutely no idea what you are talking about. I provided you with a credible source that explains how to accurately measure the value of revenue and you want to ignore it because you know you’re wrong. If you thought you were correct, you would put forth real information that disputes that source.

So the "value of revenue" is really what consumers have to pay for eggs, food, eating out and gas right?
Because businesses simply pass THEIR costs on to the consumer. For example do you think that Walmart is going to
keep their prices where they are now since they've announced a $14.00/ hour minimum wage?

Walmart will raise minimum hourly wage to at least $14 for store employees​

Walmart will raise minimum hourly wage to at least $14 for store employees

Walmart will raise wages for hourly employees beginning next month, the company said Tuesday.

www.usatoday.com

Walmart has 1.7 million workers in the United States, 94% of whom are hourly employees,​

https://www.cnn.com/2023/01/24/business/walmart-raising-wages/index.html

Now also for a lot of you really ignorant about business readers, Walmart like all businesses small and colossal have to pay 6.3% Employee FICA tax so in reality this $14.00 wage will be actually becomes then $14.87 or..
160 hours X $14.87 or $2,378.88/mo or $28,547 per year per employee.

Walmart.com Hourly Pay | PayScale

Walmart.com - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. Accurate, reliable salary and compensation comparisons for United States

www.payscale.com

Walmart.com Jobs by Hourly Rate​

Sales associate, stocker, cashier $12.00 /hour
So the announcement will mean for nearly 1.6 million hourly employees about $2.00 more and to Walmart to make up the nearly $1/2 billion more that will Walmart continue to raise their prices?
Isn't that "inflation" encouragement?

A study from the value investing site ValueWalk found that Walmart grocery prices climbed by 21.5% between 2019 and 2022, with much of the increase coming during the inflation spike that started in late 2021.

Inflation 2022: How Walmart Shoppers Were Affected

During a mid-August call between Walmart brass and industry analysts, the word "inflation" came up 60 times. Just as shoppers all over the country were stressing about how to make ends meet in the...

www.yahoo.com

But Biden is happy that inflation numbers and people like Billy000 don't seem to realize what we the ordinary people are paying are hurting us all!

 

[Toddsterpatriot]

I'm not even bothering to read it.

Here

https://www.cato.org/blog/dont-blame-obama-bushs-2009-deficit


before going off, half-cocked, about THAT source, I suggest you Google both Cato and the author.

I did...

I provided the estimate of Daniel Mitchell of Cato.

I didn't see any numbers in your link.

 

[Markle]

Never, ever, cite Heritage.

I'm not surprised that the truth and facts frighten you.

 

[Billy000]

So the "value of revenue" is really what consumers have to pay for eggs, food, eating out and gas right?
Because businesses simply pass THEIR costs on to the consumer. For example do you think that Walmart is going to
keep their prices where they are now since they've announced a $14.00/ hour minimum wage?

Walmart will raise minimum hourly wage to at least $14 for store employees​

Walmart will raise minimum hourly wage to at least $14 for store employees

Walmart will raise wages for hourly employees beginning next month, the company said Tuesday.

www.usatoday.com

Walmart has 1.7 million workers in the United States, 94% of whom are hourly employees,​

https://www.cnn.com/2023/01/24/business/walmart-raising-wages/index.html

Now also for a lot of you really ignorant about business readers, Walmart like all businesses small and colossal have to pay 6.3% Employee FICA tax so in reality this $14.00 wage will be actually becomes then $14.87 or..
160 hours X $14.87 or $2,378.88/mo or $28,547 per year per employee.

Walmart.com Hourly Pay | PayScale

Walmart.com - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. Accurate, reliable salary and compensation comparisons for United States

www.payscale.com

Walmart.com Jobs by Hourly Rate​

Sales associate, stocker, cashier $12.00 /hour
So the announcement will mean for nearly 1.6 million hourly employees about $2.00 more and to Walmart to make up the nearly $1/2 billion more that will Walmart continue to raise their prices?
Isn't that "inflation" encouragement?

A study from the value investing site ValueWalk found that Walmart grocery prices climbed by 21.5% between 2019 and 2022, with much of the increase coming during the inflation spike that started in late 2021.

Inflation 2022: How Walmart Shoppers Were Affected

During a mid-August call between Walmart brass and industry analysts, the word "inflation" came up 60 times. Just as shoppers all over the country were stressing about how to make ends meet in the...

www.yahoo.com

But Biden is happy that inflation numbers and people like Billy000 don't seem to realize what we the ordinary people are paying are hurting us all!

Um well for one thing you’re talking about something else entirely. And two, you aren’t citing any sort of causation between the wal mart pay increase and the prices for consumers. Inflation has many causes. Hell why would Wal Mart voluntarily do this if they just planned to raise their prices? That doesn’t make sense.

All in all, corporate profits are at an all time high. A corporation can afford to pay more. They just choose not to.

 

[The5thHorseman]

I'm not surprised that the truth and facts frighten you.

Do you know anything about Heritage?

 

[The5thHorseman]

I did...

I provided the estimate of Daniel Mitchell of Cato.

I didn't see any numbers in your link.

https://www.cato.org/commentary/whos-blame-massive-deficit

 

[Toddsterpatriot]

https://www.cato.org/commentary/whos-blame-massive-deficit

Thanks.

What about the so‐called stimulus, they will ask, with its $787 billion price tag? Or the omnibus fiscal‐year 2009 appropriations bill? And how about Cash for Clunkers and Obama’s expansion of the children’s health insurance program? Didn’t these all boost spending in 2009?

The answer is yes. But these boondoggles amounted to just a tiny percentage of FY2009 spending — about $140 billion out of a $3.5 trillion budget — as the pie chart nearby illustrates.

Now what about TARP? How much net TARP spending in FY 2009?

 

[BWK]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

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

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save from tax cuts? After all their profits are already at an all time high.

United States Corporate Profits

Corporate Profits in the United States increased to 3312 USD Billion in the fourth quarter of 2024 from 3128.50 USD Billion in the third quarter of 2024. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low...

tradingeconomics.com

The GOP exist to give their donors tax cuts. And they do that by controlling or legislating about every freedom you have or want. Everything they say they are for, they legislate against. Remember that. It's not what they say, it's what they do. Wake up people. Right-wingers are a joke.

 

[Markle]

Do you know anything about Heritage?

Quite a lot.

My guess is that all you know is what your far-left sources have told you.

 

[healthmyths]

Um well for one thing you’re talking about something else entirely. And two, you aren’t citing any sort of causation between the wal mart pay increase and the prices for consumers. Inflation has many causes. Hell why would Wal Mart voluntarily do this if they just planned to raise their prices? That doesn’t make sense.

All in all, corporate profits are at an all time high. A corporation can afford to pay more. They just choose not to.

A study from the value investing site ValueWalk found that Walmart grocery prices climbed by 21.5% between 2019 and 2022, with much of the increase coming during the inflation spike that started in late. So why did they raise prices by 21.5%?

 

[Nostra]

I believe that Sowell is at the moment a Senior Fellow at the Hoover Institute. 5th. He continues to be a prolific writer of books. His bibliography is about as impressive as anyone's in the history of Economics.

​

• 1971. Economics: Analysis and Issues. Scott Foresman & Co.
• 1972. Black Education: Myths and Tragedies. David McKay Co. . ISBN 0-679-30015-5 .
• 1972. Say's Law: An Historical Analysis. Princeton University Press. ISBN 978-0-691-04166-7.
• 1974. Classical Economics Reconsidered. Princeton University Press. ISBN 978-0-691-00358-0.
• 1975. Race and Economics. David McKay Co. ISBN 978-0-679-30262-9.
• 1980. Knowledge and Decisions. Basic Books. ISBN 978-0-465-03736-0.
• 1981. Ethnic America: A History . Basic Books. ISBN 0-465-02074-7 .
  • Chapter 1, "The American Mosaic ."
• 1981. Markets and Minorities. Basic Books. ISBN 0-465-04399-2 .
• 1981. Pink and Brown People: and Other Controversial Essays . Hoover Press . ISBN 0-8179-7532-2.
• 1983. The Economics and Politics of Race. William Morrow. ISBN 0-688-01891-2.
• 1984. Civil Rights: Rhetoric or Reality? William Morrow. ISBN 0-688-03113-7.
• 1985. Marxism: Philosophy and Economics. Quill. ISBN 0-688-06426-4.
• 1986. Education: Assumptions Versus History. Hoover Press. ISBN 0-8179-8112-8.
• 1987. A Conflict of Visions: Ideological Origins of Political Struggles . William Morrow. ISBN 0-688-06912-6 .
• 1987. Compassion Versus Guilt and Other Essays. William Morrow. ISBN 0-688-07114-7.
• 1990. Preferential Policies: An International Perspective. ISBN 0-688-08599-7
• 1993. Inside American Education. New York: The Free Press. ISBN 0-7432-5408-2.
• 1993. Is Reality Optional?: and Other Essays. Hoover. ISBN 978-0-8179-9262-0.
• 1995. Race and Culture: A World View. ISBN 0-465-06796-4.
• 1995. The Vision of the Anointed: Self-Congratulation As a Basis for Social Policy. Basic Books. ISBN 0-465-08995-X.
• 1996. Migrations and Cultures: A World View. ISBN 0-465-04589-8. OCLC 41748039.
• 1998. Conquests and Cultures: An International History. ISBN 0-465-01400-3.
• 1998. Late-Talking Children. ISBN 0-465-03835-2.
• 1999. The Quest for Cosmic Justice . ISBN 0-684-86463-0.
• 2000. A Personal Odyssey. ISBN 0-684-86465-7.
• 2000. Basic Economics: A Citizen's Guide to the Economy (1st ed.) . Basic Books. ISBN 0-465-08145-2.
• 2002. Controversial Essays. Hoover. ISBN 0-8179-2992-4.
• 2002. The Einstein Syndrome: Bright Children Who Talk Late. ISBN 0-465-08141-X.
• 2003. Applied Economics: Thinking Beyond Stage One. ISBN 0-465-08143-6.
• 2004. Affirmative Action Around the World: An Empirical Study . New Haven, CT: Yale University Press . ISBN 978-0-300-10775-3 .
• 2004. Basic Economics: A Citizen's Guide to the Economy (revised and expanded ed.). New York: Basic Books.
• 2005. Black Rednecks and White Liberals. San Francisco: Encounter Books. ISBN 978-1-59403-086-4.
• 2006. Ever Wonder Why?: and Other Controversial Essays . Stanford, CA: Hoover Institution Press. ISBN 978-0-8179-4752-1. OCLC 253604328. ASIN 0817947523 .
• 2006. On Classical Economics. New Haven, CT: Yale University Press. ISBN 978-0-300-12606-8.[118]
• 2007. A Man of Letters. San Francisco, CA: Encounter Books. ISBN 978-1-59403-196-0.
• 2007. Basic Economics: A Common Sense Guide to the Economy (3rd ed.). Cambridge, MA: Perseus Books. ISBN 978-0-465-00260-3. OCLC 76897806.
• 2008. Applied Economics: Thinking Beyond Stage One (2nd ed.). Basic Books. ISBN 978-0-465-00345-7 . OCLC 260206351 .
• 2008. Economic Facts and Fallacies . Basic Books. ISBN 978-0-465-00349-5. OCLC 1033591370. ASIN 0465003494.
• 2009. The Housing Boom and Bust. Basic Books. ISBN 978-0-465-01880-2.
  • Chapter 5, "The Past and the Future."
• 2010. Basic Economics: A Common Sense Guide to the Economy (4th ed.). Cambridge, MA: Perseus Books. ISBN 978-0-465-02252-6.
• 2010. Dismantling America: and Other Controversial Essays. Basic Books. ISBN 978-0-465-02251-9 . OCLC 688505777 .
• 2010. Intellectuals and Society . Basic Books. ISBN 978-0-465-01948-9 . Lay summary .
• 2011. The Thomas Sowell Reader. Basic Books. ISBN 978-0-465-02250-2.
• 2011. Economic Facts and Fallacies, 2nd edition. Basic Books. ISBN 978-0465022038
• 2013. Intellectuals and Race. Basic Books. ISBN 978-0-465-05872-3.
• 2014. Basic Economics: A Common Sense Guide to the Economy (5th ed.). New York: Basic Books. ISBN 978-0-465-06073-3.
• 2015. Wealth, Poverty and Politics: An International Perspective.[119]
• 2016. Wealth, Poverty and Politics: An International Perspective (2nd ed.). ISBN 978-0-465-09676-3.
• 2018. Discrimination and Disparities. ISBN 978-1-541-64560-8.
• 2019. Discrimination and Disparities (revised, enlarged ed.) ISBN 978-1-541-64563-9.
• 2020. Charter Schools and Their Enemies. ISBN 978-1-541-67513-1.

So I ask again...what work of Sowell's have you read?

Sowell is a genius.

Horseface5 probably doesn’t like him because he is black and dared to stray from the Dimwinger Plantation.

He is your typical lib racist moron.

 

[Nostra]

I did...

I provided the estimate of Daniel Mitchell of Cato.

I didn't see any numbers in your link.

Horseface5 isn’t good at links. He brought one earlier that proved he was a lying sack of shit.

He isn’t very bright.

 

[Nostra]

The GOP exist to give their donors tax cuts. And they do that by controlling or legislating about every freedom you have or want. Everything they say they are for, they legislate against. Remember that. It's not what they say, it's what they do. Wake up people. Right-wingers are a joke.

Trump gave every taxpayer a cut, Simp.

 

[The5thHorseman]

Thanks.

What about the so‐called stimulus, they will ask, with its $787 billion price tag? Or the omnibus fiscal‐year 2009 appropriations bill? And how about Cash for Clunkers and Obama’s expansion of the children’s health insurance program? Didn’t these all boost spending in 2009?

The answer is yes. But these boondoggles amounted to just a tiny percentage of FY2009 spending — about $140 billion out of a $3.5 trillion budget — as the pie chart nearby illustrates.

Now what about TARP? How much net TARP spending in FY 2009?

TARP would be something around 3.54 less the 3.1 originally requested and less the 140 added by Obama.....maybe 300 billion.

 

[The5thHorseman]

Horseface5 isn’t good at links. He brought one earlier that proved he was a lying sack of shit.

He isn’t very bright.

You're an idiot.