Tax the Rich
Apr 22, 2024 14:46:29 #
Triple G wrote:
Easy answer. The OP topic is taxes and so we're discussing taxes.
That's all you libs ever want to talk about, you never care to hold your government accountable, just feed the beast.
Apr 22, 2024 14:52:54 #
jcboy3 wrote:
The government runs on debt. Other peoples money isn't being used to run the government.
Unlike corporations, government workers actually make very little money.
One persons "useless government program" is another persons "cash cow".
I have a six figure income, and a 4% tax rate (like last year). I don't want to pay more in taxes, but that's just me. What's your tax rate?
Unlike corporations, government workers actually make very little money.
One persons "useless government program" is another persons "cash cow".
I have a six figure income, and a 4% tax rate (like last year). I don't want to pay more in taxes, but that's just me. What's your tax rate?
So "Tax the Rich" is not really about getting more money for the government? If you really believe that deficit spending has no effect on your money you are sadly mistaken, in the last 4 years your dollars have lost 20% of their value. Deficit spending does have an impact. We have seen the greatest experiment in "Modern Monetary Theory" across the last 8 years and it has been an abject failure.
Apr 22, 2024 16:32:15 #
Blurryeyed wrote:
So "Tax the Rich" is not really about getting more money for the government? If you really believe that deficit spending has no effect on your money you are sadly mistaken, in the last 4 years your dollars have lost 20% of their value. Deficit spending does have an impact. We have seen the greatest experiment in "Modern Monetary Theory" across the last 8 years and it has been an abject failure.
Value of dollar with trade partners or US consumer purchasing power?
The value of the dollar is up thanks to a very strong economy. Purchasing power is down due to inflation, but is stabilizing. Inflation is due to demand and supply and demand is still running hot. Consumer purchasing demand is still high attributable to more jobs and wages. After tax income is up, tax returns are up, renters are getting relief.
Demand for treasury bills is increasing.
https://institute.bankofamerica.com/content/dam/bank-of-america-institute/economic-insights/consumer-checkpoint-april-2024.pdf
https://tradingeconomics.com/united-states/currency
https://www.investopedia.com/ask/answers/021015/what-effect-fiscal-deficit-economy.asp#:~:text=Some%20economists%20argue%20that%20government,that%20results%20from%20that%20spending.
https://www.reuters.com/markets/us/rising-treasury-yields-pose-test-richly-valued-us-stocks-2024-04-03/
https://tradingeconomics.com/united-states/currency
https://www.bloomberg.com/news/articles/2024-02-27/treasury-market-tests-appetite-for-yield-with-another-auction?embedded-checkout=true
The US will only achieve some predictability and consistency by tying IRS revenues, federal debt, and cost of debt to a finite % of GDP. Other than inflation higher than 2% target, it's tough to find anything wrong with the current economy.
Apr 22, 2024 17:04:32 #
Triple G wrote:
Value of dollar with trade partners or US consumer... (show quote)
Bottomline is that your purchasing power is down 20% over the last 4 years. You and a bunch of liberal writers can find all kinds of reasons to discount the deficit spending as a cause for inflation.... Econ 101 would argue that point.
Apr 22, 2024 17:26:10 #
Blurryeyed wrote:
Bottomline is that your purchasing power is down 20% over the last 4 years. You and a bunch of liberal writers can find all kinds of reasons to discount the deficit spending as a cause for inflation.... Econ 101 would argue that point.
You only want to blame Biden for inflation instead of including trumps tax cuts, covid aid spending, and terrible trade policies. I just like to keep you honest that it's not all on person.
The latest spending bills are more than paying for themselves. Check their ROI's. The monetary policy is working well. I looked and I found no economics articles that confirmed that reducing government spending would bring inflation down to 2% in both the short and long term. Majority say it's on the demand supply because most of the supply side issues have been cleared.
If you believe that this particular House is going to be able to do something other than the norm for over 20 years,
you are clearly devoid of clear thinking.
https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/2005/q3/q3_05_sill.pdf?la=en
https://www.imf.org/en/Publications/fandd/issues/2023/03/modern-monetary-policy-kaplan-moll-violante
https://fivethirtyeight.com/features/20-years-of-congresss-budget-procrastination-in-one-chart/
Apr 22, 2024 17:35:01 #
Triple G wrote:
You only want to blame Biden for inflation instead... (show quote)
Earlier I mentioned spending over the last 8 years, Trump was no saint however his covid spending was pretty much necessary, Biden's came at a point in time when it was not necessary or wise. There were other issues that contributed but after this much time has passed can no longer be used to blame the loss in purchasing power, the supply chain was a problem but it should have been temporary and prices should have stabilized as the economy came back and that did not happen. And no, I don't blame the Trump tax cuts, we saw economic growth before the pandemic that we did not experience under either Obama or Bush and we far exceeded CBO projections in GDP growth under Trump. We soon were setting new records in Federal receipts.
Funny thing about you, I can agree to disagree, for some reason you can't do that and just walk away....
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.