Biden regime still claiming their "Inflation Reduction Act" is going to lower inflation - LOL

[Winston]

Yawn,


Your desperation to try and steer the thread away from Joe Biden's Green Raw Deal is as boring as it is desperate.

If you want to attack the 2018 tax cut, start your own thread.

Seriously, pull you head out of your ass. Within this thread I specifically stated parts of Biden's "Green New Deal" that have delivered real results. An increase in manufacturing jobs, unprecedented in the last two decades--again, do you even know the classic definition of inflation? And I see you running away from that four trillion dollars, classic.

 

[struth]

No, they could pass the cost on to shareholders by reducing dividends and eliminating stock buybacks. They could also increase investment.

Corporate Rate Increase Would Make Taxes Fairer, Help Fund Equitable Recovery | Center on Budget and Policy Priorities

Raising corporate taxes by a modest amount will not undermine the economic recovery and, in fact, using those revenues to finance needed investments will help make the economy stronger.

www.cbpp.org

Educate yourself.

is revenue…spending?

 

[dudmuck]

Well, now that's a lie.

Not only did the standard deduction double, so did the child tax credit. Hence those with large families pay less in taxes than under the Obama code.






So, you have your talking points. Stock buybacks are bad - but are they?

In fact, they account for some $4 trillion in cash being repatriated (and taxed) in the USA - which had been moved offshore.

Returning business to America distresses you globalists, but is in fact good for the America middle class.

 

[struth]

when and how are they going to do that?

 

[otto105]

By the way, inflation just rose again.

Remember this next month when you vote!

Okay, what is the phax news plan for republic pols to reduce inflation?


Postering?

 

[otto105]

when and how are they going to do that?

Ask Ron Johnson or the Social Security fraud senator from Florida.

 

[task0778]

This is total and complete horseshit, the GOP is not going to do any such thing. And BTW, even if they could Biden could veto it. IOW, you are a damn liar.

 

[otto105]

First off, no - Trump didn't cut corporate taxes. CONGRESS passed the tax act in 2018. Further, that act dramatically cut taxes to the middle class by doubling the standard deduction - which was the single most significant impact on revenue in the act.

But hey, you found a Marxist publication that opposes any cuts in taxes, published a year BEFORE the tax act of 2018 - so congratulations on your patent dishonesty. It pairs well with your abject ignorance and utter dishonesty.

The former 1-term fuckup tax cut added to our deficit by trillions of dollars.

 

[Uncensored2008]

What's sad, is that really is the best you Nazis can do..

 

[Uncensored2008]

when and how are they going to do that?

The Nazis are desperate, word salad and absurd conspiracy theories are all they have left.

 

[Uncensored2008]

The former 1-term fuckup tax cut added to our deficit by trillions of dollars.

More lies?

How, pathetic...

 

[Tom Paine 1949]

Excuse me, but it seems to me in all this discussion about inflation, our MAGA Republicans don’t seem to have a clue about the real reasons we are experiencing worldwide inflation right now. They don’t seem to pay attention to what is now being done by the Federal Reserve to reverse its longterm mistaken policies. They seem to think that if Trump were back in office he could just wave his magic wand and end the problem. In fact, had Trump been re-elected for a second term he would probably have made the underlying situation worse, maybe even firing Federal Reserve Chairman Powell … for precisely the wrong reason. Let me explain.

Probably the largest of all the many factors leading to systemic inflation and destabilization of the whole advanced Western economy was … long-term cheap money & credit via QE and even zero interest rate policy.

Such measures were adopted by most Central Banks in the last 20 years and supported by short-sighted and self-seeking politicians in all parties. In the U.S. it was especially the populist demagogue DONALD TRUMP who advocated this policy and pushed it to the extreme:

President Donald Trump lashed out at Federal Reserve Chairman Jerome Powell on Tuesday as the central banking chief dismissed the possibility of the U.S. adopting negative interest rates….

Speaking before the House Financial Services Committee, Powell threw cold water on the notion that the Fed would send its benchmark interest rate below zero – particularly during a time of economic expansion. Trump has long pressured Powell and the Fed to reduce interest rates to juice the economy – despite criticizing former Fed Chair Janet Yellen for keeping rates low throughout much of former President Barack Obama's term….

https://www.usnews.com/news/economy/art ... from-trump

 

[dudmuck]

What's sad, is that really is the best you Nazis can do..

 

[struth]

if you are intimated by people watching ballot boxes that are sitting out in public, then maybe you are a criminal

do you get nervous going to a bank or ATM as well?

 

[otto105]

More lies?

How, pathetic...

Sure, ignore facts.

Act like a dumbass maga fuckup

 

[struth]

Sure, ignore facts.

Act like a dumbass maga fuckup

revenue increased, that’s a fact. What added to the deficit was medicare and medicaid the largest drives of debt, as well as responding to the Chinese Virus

 

[otto105]

revenue increased, that’s a fact. What added to the deficit was medicare and medicaid the largest drives of debt, as well as responding to the Chinese Virus

Sure, post the revenue stats then

 

[struth]

Sure, post the revenue stats then

it’s been provided for you before and you’ve ignored it

 

[otto105]

it’s been provided for you before and you’ve ignored it

Come on fuckup. You just asserted it.

I don’t take your word as proof.

 

[otto105]

it’s been provided for you before and you’ve ignored it

Here’s a primer for you maga fuckup.

On the basis of the stock market and gross domestic product (GDP), the economy is in fact performing very well. But those trends already existed before the TCJA became law. The unemployment rate — 3.5% in February 2020 — has reached its lowest level in more than 50 years, but data from the U.S. Bureau of Labor Statistics (BLS) shows that unemployment has been steadily declining since 2010. There isn’t currently enough evidence to show that Trump’s tax cuts lowered the unemployment rate more quickly. Preliminary data from the U.S. Bureau of Economic Analysis (BEA), released in February, also suggests that GDP has actually been slowing as of late.

Along with the U.S. bringing in less tax revenue since Trump’s tax reform, the U.S. deficit has increased significantly. Data from the Federal Reserve Bank of St. Louis shows that the federal deficit grew 17% from 2017 to 2018 and 26% from 2018 to 2019. Federal debt passed $1 trillion in 2019 and the Congressional Budget Office (CBO) expects the deficit to average $1.4 trillion from 2021 to 2030. Whether the size of the deficit should matter is an issue still being debated by economists, but it’s clear that Trump himself expected his tax cuts to not just lower the deficit but pay it off entirely.