Why do you insist on blaming the Biden Admin for the inflation that was clearly, and by all measure due primarily to covid?
You aren't that dumb, and it hurts your arguments when you insist on taking that tack.
OT: Tariff Economics Discussion
- Thread starter scott in nashville
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Why do you insist on blaming the Biden Admin for the inflation that was clearly, and by all measure due primarily to covid?
You aren't that dumb, and it hurts your arguments when you insist on taking that tack.
We will have to agree to disagree but I appreciate your good faith argument.
I think Yellens comments were relevant because inflation from Covid was supposed to be transititory. It’s the Biden admins policies that caused that inflation to last longer than “transitory”.
And I looked it up, BBB was on the legislative agenda and Dems were trying to get it passed in December of 2022. Look at the inflation chart from that time period. December 2022 was the peak of the worst inflation in over 50 years reaching the rate of 10% a year.
And that is where we have to agree to disagree.
I think it WAS a ridiculous idea. Not one republican voted for it so Dems own the vote. I think it showed democrats were not serious about confronting inflation. Many may have interpreted it to mean that democrats simply didn’t understand inflation. Or was it greed and they voted to pass the bill to get their agenda through, damn the consequences?
The 51 agents thing is a tell to. They intentionally lied. They got busted.
Democrats need to have a transparency agreement with their constituents. They picked a candidate for you. Who is making the decisions? Who is feeding yall these lies? You need to hold them accountable for lying to you instead of celebrating them.
The deep state dirty tricks, the fudging of economic numbers, the hidden finances of USAID, A demented man is sharp as a tack. The invisible tax of inflation . The Democratic Party is the party of deception.
Or I could have just voted the democrats out. That plan worked much better
Just finished my thorough answer to you.
I disagree. Democrats have shown multiple times they didn’t understand inflation or just didn’t care about it.
I think it was the biggest issue of the 2024 election. And democrats lost resoundingly.
I think you are wrong not me. Respectfully
So by that measure if the economy doesn't come back from these tariffs, you will blame the entire Republican Party and all members and voters, but most certainly Donald Trump since he will have once again proven her doesn't understand how businesses work.
He doesn't exactly have a great track record as a businessman. He is the guy who bankrupted a casino.
For the moment but your vote is helping to destroy a perfectly good economy and we'll all be worse off because of your alt-right tunnel vision in the end.
AI says the # 1 issue was the economy. And I will extrapolate that to say inflation was the biggest issue in the economy.
AI
Based on available data from surveys and exit polls conducted around the 2024 U.S. presidential election, the top five issues that voters considered most important, ranked from most to least important, are as follows:
1. **Economy** - The economy consistently emerged as the leading concern for voters. Surveys like those from Gallup (September 2024) and AP VoteCast (November 2024) highlighted it as a top priority, with 31% of voters in NBC News exit polls citing it as their most important issue. Inflation, jobs, and overall economic performance were key factors driving this concern.
2. **Democracy** - The state of democracy was a close second, with 35% of voters in NBC News exit polls ranking it as their top issue. This reflects concerns about election integrity, political division, and the future of democratic institutions, amplified by the candidates' rhetoric and events like the January 6, 2021, Capitol attack.
3. **Abortion** - Abortion was a significant issue, with 14% of voters in NBC News exit polls identifying it as their primary concern. The 2022 overturning of Roe v. Wade kept reproductive rights in focus, influencing voter turnout and preferences, especially among women and Democrats.
4. **Immigration** - Immigration ranked fourth, with 11% of voters in NBC News exit polls marking it as their top issue. It gained prominence due to debates over border security and policy proposals, particularly among Republican voters, as noted in Pew Research Center data.
5. **Health Care** - Health care rounded out the top five, frequently cited in surveys like Pew Research Center’s (September 2024) as very important to voters, though exact percentages varied. It remained a key concern, especially for Democratic voters, tied to costs, access, and policy differences between candidates.
These rankings are derived from a synthesis of exit polls (e.g., NBC News, AP VoteCast) and pre-election surveys (e.g., Gallup, Pew Research Center) conducted in 2024, reflecting voter sentiment at the time of the election on November 5, 2024. The economy and democracy often vied for the top spot, but the economy’s broader impact on daily life edged it ahead in most analyses.
AI
Based on available data from surveys and exit polls conducted around the 2024 U.S. presidential election, the top five issues that voters considered most important, ranked from most to least important, are as follows:
1. **Economy** - The economy consistently emerged as the leading concern for voters. Surveys like those from Gallup (September 2024) and AP VoteCast (November 2024) highlighted it as a top priority, with 31% of voters in NBC News exit polls citing it as their most important issue. Inflation, jobs, and overall economic performance were key factors driving this concern.
2. **Democracy** - The state of democracy was a close second, with 35% of voters in NBC News exit polls ranking it as their top issue. This reflects concerns about election integrity, political division, and the future of democratic institutions, amplified by the candidates' rhetoric and events like the January 6, 2021, Capitol attack.
3. **Abortion** - Abortion was a significant issue, with 14% of voters in NBC News exit polls identifying it as their primary concern. The 2022 overturning of Roe v. Wade kept reproductive rights in focus, influencing voter turnout and preferences, especially among women and Democrats.
4. **Immigration** - Immigration ranked fourth, with 11% of voters in NBC News exit polls marking it as their top issue. It gained prominence due to debates over border security and policy proposals, particularly among Republican voters, as noted in Pew Research Center data.
5. **Health Care** - Health care rounded out the top five, frequently cited in surveys like Pew Research Center’s (September 2024) as very important to voters, though exact percentages varied. It remained a key concern, especially for Democratic voters, tied to costs, access, and policy differences between candidates.
These rankings are derived from a synthesis of exit polls (e.g., NBC News, AP VoteCast) and pre-election surveys (e.g., Gallup, Pew Research Center) conducted in 2024, reflecting voter sentiment at the time of the election on November 5, 2024. The economy and democracy often vied for the top spot, but the economy’s broader impact on daily life edged it ahead in most analyses.
So do you think this current economy is what the voters thought that they were going to get form Trump? Sure doesn't seem improved right now.
If the return on the SnP 500 is less than the long term average during his 4 year term I would consider that disappointing.
I would never be so silly to judge a 4 year term after 3 months. And you being a smart person know that would be an incorrect judgement.
Hell, 5 years after Bush’s term I would have judged that as a success. Viewed through the lens of history now, I could accept that his presidency was a failure. Same with Obama. Not sure who bears the responsibility for NAFTA. Another issue many were initially for, but has backfired for many Americans.
I don’t think this will be the current economy for long. Do you mean market or economy. You are a businessman and surely understand the difference.
It’s not fair to judge his policies before they have even gone into effect.
We have heard lots of theoretical, but no one really knows what will happen. Is it really the worst idea to try a different tact?
Remember the “experts” got us to where we are now. To me it sounds like the experts need to listen tot the people, instead of the experts telling the people what they want.
I think it's absolutely fair to judge how the communication and messaging has been presented. This has been an absolute cluster **** of a situation that has lead to massive fear and panic. It could have been handled much better if they had presented the plan and what the goals were prior to doing it.
I think that much of the stock market panic is due to the stops and starts and the complete inability to have any idea what the goals are. Are we using Tariffs to drive revenue and replace taxes? Are we using them for a begotional tactic? Nobody knows and the market hates uncertainty.
Dpic you are lying to yourself.
A perfectly good economy does not have rising inflation, rising interest rates, $2 trillion deficits, debt to gps at highest level since the .com bubble.
You can say what you want, but I do not take that argument seriously.
If you are going into a negotiation, do you telegraph your intentions? Do you lay all your cards on the table?
Remember, you are playing poker at the biggest poker table in the world, you represent 330’million people, and the stakes are high. Your job is to win.
I agree it could be better, but in game theory it may help to appear to be a bit irrational.
You have entirely more confidence in Trump than I do. Y'all keep wanting to attribute some epic business acumen to the guy and that's just not supported by any facts.
He is a rich kid who failed up.
Income taxes are a big problem. Capital gains is an absolute scam. You must pay on any gain but only get a max of $3000 applied on loss. Sales tax is probably the most fair as folks with more money tend to buy more thus leading to more taxes paid. The biggest problem is probably the loopholes and obviously the waste of SS. That’s the second largest deduction from my check tax wise. Its ridiculous. The current infrastructure is a joke for the amount of taxes paid. Hop on 85 in Spartanburg and drive to charlotte. You may as well be on the Oregon trail in the 1800s and it’s been that way for decades. Schools are pathetic. Then you find out we are sending 100s of billions for ridiculous nonsense in every country on the planet while our citizens suffer. List goes on.
If that’s the way you want to see it you could paint that picture.
I’d be willing to bet that you know some rich kids that are total fvck up’s. You know the ones who really failed up.
Love him or hate the dude has his name on buildings in some of our largest cities. Do you really, deep down inside, think he is a failure? You really think failing up to run a successful business is …. Failing?
Yes he has had failures. Haven’t we all? Isn’t America the land of risk taking? Isn’t that part of that makes us great? Shouldn’t it be OK TO FAIL? Get knocked down you get back up again?
It’s ok to fail. Sometimes the biggest failure is a lack of trying.
And it feels nice to have someone trying for America instead of accepting the stays quo of us getting bent over.
My personal economy was great the last few years so you know what to do with your interminable white grievances
Those are all state taxes that you are bitching specifically about, and SC has some of the lowest state taxes, hence terrible roads and poor education performance. Bit We should just leave it up to the states right?
No it’s not. State taxes aren’t being sent to Ukraine or Israel or trans plays in Iraq. The DOE kept about 40% or so of its budget in DC. I travel all over, poor infrastructure isn’t isolated to SC. Who’s responsible for the FS Key bridge? You are misleading.
I don't care about a stock market correction on a 10-year time horizon when I know the overall vitality and long term health of Main Street America is improving.
Meanwhile. Oil is down and rates are lower. And taxes will soon follow. So, I don't mind paying a little more for a new iPhone or Nikes I don't really need anyway.
And I'm 100% sure that if Kamala had won, we would be entering an economic death spiral of more government jobs, illegal immigrants, and deficit spending.
I also think this turbulence will be exceptionally short-lived. One by one, all of our trading partners will negotiate a settlement that benefits America, while also committing to investing trillions of dollars here.
BOOM!!! Chew on it panicans.
Treasury Secretary Scott Bessent obliterates NBC's Kristen Welker on tariffs with numbers:
"Kristen, what I like is data...A 20% tariff on China led to a 0.7% price level increase over 4 years. I think that's pretty good...The little-publicized story this week: everyone wants to look at the stock market going down; you know what else went down? Oil prices went down almost 15% in 2 days, which impacts working Americans much more than the stock market does. Interests rates hit their low for the year, so I'm expecting the mortgage applications to pick up."
Treasury Secretary Scott Bessent obliterates NBC's Kristen Welker on tariffs with numbers:
"Kristen, what I like is data...A 20% tariff on China led to a 0.7% price level increase over 4 years. I think that's pretty good...The little-publicized story this week: everyone wants to look at the stock market going down; you know what else went down? Oil prices went down almost 15% in 2 days, which impacts working Americans much more than the stock market does. Interests rates hit their low for the year, so I'm expecting the mortgage applications to pick up."
Roads and education are primarily state funded. Our tax rate is nothing outrageous compared to the rest of the world. It costs money to have infrastructure.
For the record, I'm dual income with no kids, I also have a 1099 income so I promise you I pay a higher effective percentage of taxes than you do. I don't enjoy paying them, but it's the cost of living in a developed country. Try visiting other countries,particularly 3rd world and it might change your perspective some.
My advice based on my life experience at age 73
Withdraw as soon as you can the 401
Take SS at 62
Make sure you have part A and B health insurance
don’t buy stuff that requires you maintain it
in simple terms don’t buy things that make work for you
Enjoy retirement
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Walt Disney and Ford had multiple bankruptcies and people globally use them as a gold standard for building a business
You may want to change that thought
I could be wrong, but doesn’t the overwhelming majority of road/highway repair funds come from state and local taxes? Doesn’t around 80% of school funding come from local and state taxes? Sounds like you have some gripes with the elected representatives who, last I checked in that part of SC, were all republican.
Only $3k applies to that year, but an indefinite amount carries over to future tax years
No you’re not. You get paid. Then you can take your money and do what you want. Then you can use deductions to offset your tax liability. I cannot. I sell capital equipment. If I sell 2 million worth of of EQ and they pay 10% I make 200k. Every check I get is taxed at the highest rate. So when I “make” 20000 in a month I bring home 10000. You’re not taxed like that. Why do I need to visit third world countries? Paying for all the things found by DOGE, specifically SS and USAID are NOT the cost of living in a developed country. They are a cost of a bloated, broken, corrupt system that is funded on the backs of its people.
Here was my point:
The biggest problem is probably the loopholes and obviously the waste of SS. That’s the second largest deduction from my check tax wise. Its ridiculous.
3k per year. I’m not going to live forever. You could have one down year of 20k which is normal and have to ride that for 7 years. If you like paying taxes so much I don’t think we will have a lot in common.
I gave numerous examples and you pulled out schools. Whatever. Shell game.
My point:
The biggest problem is probably the loopholes and obviously the waste of SS. That’s the second largest deduction from my check tax wise. Its ridiculous.
I don't disagree with you, I think the limit should be raised. We are in agreement on this
Look at the bolded. You're blaming the fed for something solely the fault of state/local representation.
Sounds like you need to pay a tax accountant. Also, doesn't it piss you off that Trump and Musk aren't taxed like you are?
Those not being “taxed like you”, are taking financial risks you know nothing about.
I would also point out that Trump/Musk really aren't taking risks with their money. They are too rich to fail at this point. God Knows Trump has tried lol.
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