Republicans Have No Plan to Fix Inflation

[Wickerthing]

Ok i've had enough of your endless BS trolling ..............You are the weakest link.......join my VERY LARGE IGGY VAULT...........SEE YOU AS ANOTHER SOCK LATER Seala booboo.

And another one bites the dust. Proud to make it to your list of folks you can't deal with. Coward!

 

[IM2]

Ok i've had enough of your endless BS trolling ..............You are the weakest link.......join my VERY LARGE IGGY VAULT...........SEE YOU AS ANOTHER SOCK LATER Seala booboo.

Running from the truth again son?

 

[Kosh]

Running from the truth again son?

The irony of that comment from that which believes his rich white far left masters!

 

[eagle1462010]

Running from the truth again son?

More BS from the Race baiting troll............That would be you..........I'm not gonna go back and forth for fucking ever with that idiot.........or you for that matter.

You have already got me thread banned on 2 threads..............So why don't you go play in Congo.

 

[Wickerthing]

Trump participated with Epstein. He and Epstein raped a 14 year old girl, then kept appealing things until she could no longer afford to go to court.

Then he should rot under the jail. I'm not ever going to say that doesn't matter. Sick fucks should pay the highest price for that kind of evil.

 

[IM2]

Yeah, things are so much better now, huh. Fool.

They are. And understand that trump would be getting the same thing right now. Except nobody in Europe would want to listen to him, Putin would be running the Ukraine and trump would try getting a hotel built in Kyiv.

 

[Baron Von Murderpaws]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it to congress. Because if they had one and it worked, they would most certainly assure themselves the majority. Instead it's been about obstruction and the idiocy of Big Money Manchin and Corporate Slave Sinema.

I say they have no plan because spending by trump contributed to the inflation.

Facts First: While some economists say the stimulus packages passed in response to the Covid-19 pandemic are having an impact on inflation, it's misleading to suggest that's the only explanation for the recent rise in inflation. Blaming it exclusively on Democratic spending proposals misrepresents what's actually been passed, and ignores the trillions of dollars in spending passed last year supported by Republicans and signed by then-President Donald Trump which economists say have also contributed to inflation.

Last year, Congress passed two bills totaling around $3 trillion in Covid relief spending -- the $2 trillion Coronavirus Aid, Relief and Economic Security Act passed in March 2020, and the $900 billion pandemic relief bill passed in December 2020. Both were signed by Trump and supported by Republicans.

Fact-checking Republican attempts to blame inflation on Democrats

As the US economy gradually recovers from the coronavirus pandemic, prices are rising across the board with inflation exceeding the Federal Reserve's 2% target and reaching a 13-year high in June. Republicans have turned that jump in inflation into a political talking point, trying to place the...

www.cnn.com

And Rick Scotts tax increase for all is not the answer. So the Republican plan is to get the majority and start bogus investigations on Hunter Biden and attempt to impeach Biden, then Harris. If they appoint trump to speaker, understand that is the first move to the attempt to reinstall him as president. Sane Americans cannot continue falling for disinformation. Biden is not the reason that supply chains have been hampered, COVID is. And we were negatively affected by COVID due to the incompetence of a republican president. We cannot afford to have crazies running our government.

There's nothing to fix.
There was nothing wrong with it to begin with, until the Communist Party got into the White House!!!

All the Reps have to do once back in power, is reverse what the Commies have done the past two years.

 

[IM2]

More BS from the Race baiting troll............That would be you..........I'm not gonna go back and forth for fucking ever with that idiot.........or you for that matter.

You have already got me thread banned on 2 threads..............So why don't you go play in Congo.

Lol! Like I said, only you racists say what you just said. And thats because you red faggotts can't face the truth. I have not got you banned anywhere. You banned yourself. So you go play in Congo and I'll keep busting right wing ass right here.

 

[IM2]

There's nothing to fix.
There was nothing wrong with it to begin with, until the Communist Party got into the White House!!!

All the Reps have to do once back in power, is reverse what the Commies have done the past two years.

The communist party was voted out in 2020 but tried to stage a coup on 1-6-2021.

 

[IM2]

Then he should rot under the jail. I'm not ever going to say that doesn't matter. Sick fucks should pay the highest price for that kind of evil.

I definitely agree. I ain't giving Clinton a pass on this either.

 

[Nova78]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it...
Do you actually think a Democrat would implement anything a republican suggested, you are one stupid moron. Democrats are vile steaming piles of shit.

 

[Nova78]

The communist party was voted out in 2020 but tried to stage a coup on 1-6-2021.

 

[IM2]

The irony of that comment from that which believes his rich white far left masters!

Here we have a right wing dunce cap who gladly bends over to take it with no vaseline for the very richest whites talking about somebody else believing some masters.

Another example of dumb extremist whiteness.

 

[eagle1462010]

Lol! Like I said, only you racists say what you just said. And thats because you red faggotts can't face the truth. I have not got you banned anywhere. You banned yourself. So you go play in Congo and I'll keep busting right wing ass right here.

ok. Your Racist ass joins the other troll.

 

[IM2]

We read and hear all the disinformed talking crazy about Biden, but they have no plan to stop inflation. If they had one, they would have presented it...
Do you actually think a Democrat would implement anything a republican suggested, you are one stupid moron. Democrats are vile steaming piles of shit.

Actually I do. Because Democrats aren't republicans. If they were, trump would be sitting behind bars with Meadows, Bannon, Navarro, Giuliani, Powell, Ginni Thomas, Eastman, Jim Jordan, Mo Brooks, etc.

Republicans have the same plan for inflation as they had for healthcare. Hot Air and personal attacks on the president and his family.

 

[jasonnfree]

Yeah, things are so much better now, huh. Fool.

I believe they are. We now have a president who won't try to have his vice president murdered. How republicans can still lick, suck and drool over this murderous trump character is a mystery to me.

 

[IM2]

ok. Your Racist ass joins the other troll.

Sure thing Lincoln Rockwell.

 

[IM2]

You might laugh, but republicans tried a coup and didn't vote to certify the true duly elected President. That's what communists do.

 

[Nova78]

You might laugh, but republicans tried a coup and didn't vote to certify the true duly elected President. That's what communists do.

And Hilary and Biden are pure as white-driven snow and blocking highways and burning down
cites and looting was just venting, what pond scum.

 

[Nostra]

Every problem since then? No, but the beginnings of VooDoo economics as stated by his Vice President in the primaries. Look it up! Silly Goose.

I did look it up. Unlike you I am able to support my position with facts, not just unhinged Dimtard rants.


As I posted earlier in this thread.............

Let me educate you on the Reagan economic record.....

(your typical Dimwinger single digit IQ move here is to attack the source. Feel free to do so while bringing credible links disputing ANY of the numbers in the link)

HOW DID THE REAGAN TAX CUTS AFFECT THE U.S. TREASURY?​

Many critics of reducing taxes claim that the Reagan tax cuts drained the U.S. Treasury. The reality is that federal revenues increased significantly between 1980 and 1990:

• Total federal revenues doubled from just over $517 billion in 1980 to more than $1 trillion in 1990. In constant inflation-adjusted dollars, this was a 28 percent increase in revenue.3
• As a percentage of the gross domestic product (GDP), federal revenues declined only slightly from 18.9 percent in 1980 to 18 percent in 1990.4
• Revenues from individual income taxes climbed from just over $244 billion in 1980 to nearly $467 billion in 1990.5 In inflation-adjusted dollars, this amounts to a 25 percent increase.

HOW DID REAGAN'S POLICIES AFFECT FEDERAL SPENDING?​

Although critics continue to focus on President Reagan's budget "cuts," federal spending rose significantly during the 1980s:

• Federal spending more than doubled, growing from almost $591 billion in 1980 to $1.25 trillion in 1990. In constant inflation-adjusted dollars, this was an increase of 35.8 percent.6
• As a percentage of GDP, federal expenditures grew slightly from 21.6 percent in 1980 to 21.8 percent in 1990.7
• Contrary to popular myth, while inflation-adjusted defense spending increased by 50 percent between 1980 and 1989, it was curtailed when the Cold War ended and fell by 15 percent between 1989 and 1993. However, means-tested entitlements, which do not include Social Security or Medicare, rose by over 102 percent between 1980 and 1993, and they have continued climbing ever since.8
• Total spending on all national security programs never equaled domestic spending, even when Social Security, Medicare, and net interest are excluded from domestic totals. In addition, national security spending fell during the Administration of the senior President Bush, while domestic spending increased in both mandatory and discretionary accounts.9 (See Chart 1.)

HOW DID REAGAN'S POLICIES AFFECT ECONOMIC GROWTH?​

Despite the steep recession in 1982--brought on by tight money policies that were instituted to squeeze out the historic inflation level of the late 1970s--by 1983, the Reagan policies of reducing taxes, spending, regulation, and inflation were in place. The result was unprecedented economic growth:

• This economic boom lasted 92 months without a recession, from November 1982 to July 1990, the longest period of sustained growth during peacetime and the second-longest period of sustained growth in U.S. history. The growth in the economy lasted more than twice as long as the average period of expansions since World War II.10
• The American economy grew by about one-third in real inflation-adjusted terms. This was the equivalent of adding the entire economy of East and West Germany or two-thirds of Japan's economy to the U.S. economy.11
• From 1950 to 1973, real economic growth in the U.S. economy averaged 3.6 percent per year. From 1973 to 1982, it averaged only 1.6 percent. The Reagan economic boom restored the more usual growth rate as the economy averaged 3.5 percent in real growth from the beginning of 1983 to the end of 1990.12

HOW DID REAGAN'S POLICIES AFFECT THE FEDERAL TAX BURDEN?​

Perhaps the greatest myth concerning the 1980s is that Ronald Reagan slashed taxes so dramatically for the rich that they no longer have paid their fair share. The flaw in this myth is that it mixes tax rates with taxes actually paid and ignores the real trend of taxation:

• In 1991, after the Reagan rate cuts were well in place, the top 1 percent of taxpayers in income paid 25 percent of all income taxes; the top 5 percent paid 43 percent; and the bottom 50 percent paid only 5 percent.13 To suggest that this distribution is unfair because it is too easy on upper-income groups is nothing less than absurd.
• The proportion of total income taxes paid by the top 1 percent rose sharply under President Reagan, from 18 percent in 1981 to 28 percent in 1988.14
• Average effective income tax rates were cut even more for lower-income groups than for higher-income groups. While the average effective tax rate for the top 1 percent fell by 30 percent between 1980 and 1992, and by 35 percent for the top 20 percent of income earners, it fell by 44 percent for the second-highest quintile, 46 percent for the middle quintile, 64 percent for the second-lowest quintile, and 263 percent for the bottom quintile.15
• These reductions for the lowest-income groups were so large because President Reagan doubled the personal exemption, increased the standard deduction, and tripled the earned income tax credit (EITC), which provides net cash for single-parent families with children at the lowest income levels. These changes eliminated income tax liability altogether for over 4 million lower-income families.16

Critics often add in the Social Security payroll tax and argue that the total federal tax burden shifted more to lower-income groups and away from upper-income groups; but President Reagan's changes were in the income tax, not in the Social Security payroll tax. The payroll tax was imposed by proponents of big government over the past 50 years, and it is they, not Ronald Reagan, who should be held accountable for its distributional effects.

Nevertheless, even if one counts the Social Security payroll tax, the share of total federal taxes increased between 1980 and 1989 for the following groups:

• For the top 1 percent of taxpayers, from 12.9 percent in 1980 to 15.4 percent in 1989;
• For the top 5 percent of taxpayers, from 27.3 percent in 1980 to 30.4 percent in 1989; and
• For the top 20 percent of taxpayers, from 56.1 percent in 1980 to 58.6 percent in 1989.

On the other hand, the share of total federal taxes, if one includes the Social Security payroll tax, declined for four groups:

• For the second-highest 20 percent of taxpayers, from 22.2 percent in 1980 to 20.8 percent in 1989;
• For the middle 20 percent of taxpayers, from 13.2 percent in 1980 to 12.5 percent in 1989;
• For the second-lowest 20 percent of taxpayers, from 6.9 percent in 1980 to 6.4 percent in 1989; and
• For the lowest 20 percent of taxpayers, from 1.6 percent in 1980 to 1.5 percent in 1989.17

CONCLUSION​

No matter how advocates of big government try to rewrite history, Ronald Reagan's record of fiscal responsibility continues to stand as the most successful economic policy of the 20th century. His tax reforms triggered an economic expansion that continues to this day. His investments in national security ended the Cold War and made possible the subsequent defense spending reductions that are largely responsible for the current federal surpluses. His efforts to restrain the expansion of federal government helped to limit the growth of domestic spending.

If Reagan's critics had been willing to work with him to limit domestic spending even further and to control the growth of entitlements, the budget would have been balanced five to ten years sooner and without the massive tax increase imposed in 1993. Today, Members of Congress from across the political spectrum should stand on the evidence and defend the Reagan record.

To the extent that President Bush's proposals mirror those of Ronald Reagan, his plan should be a welcome strategy to lower the tax burden on Americans and to make the system more responsible. If the advocates of big government in Congress cooperate with President Bush rather than merely continuing to fund obsolete, wasteful, and redundant programs, there is no limit to the prosperity that Americans can generate.

Peter Sperry is the Grover M. Hermann Fellow in Federal Budgetary Affairs in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.