You are unemployed and want a new job, under a Democratic president you have a better chance of getting one!

[Luckyone]

FALSE! In the 2020 presidential debate, Biden promised he would "transition away from fossil fuels.' He kept His promise.

Biden signs executive order pausing federal drilling leases

What will Biden's order mean for the energy industry and the effort to halt climate change?

www.marketplace.org

1. the NOSEDIVE oil production took between Trump's last month (344 MILLION BARRELS MONTH), and Biden's first month (277 MBM) when he issued an EO to halt oil drilling. A DROP of a whopping 67 MB/mo.
2. there is every reason to believe, that had the pandemic shutdowns not occured, that rising line would have continued rising exactly as it was already doing. And if Trump had remained president, and we thereby extend-extrapolate the line to as far as December 2022, we can easily see that it would be at about 580 Million Barrels/mo, and much higher than that by now.
3. Fast foward to 2024, after 3 years of minimal oil production (Biden wanting to transition to green energy), it was apparent that Biden caused a whopper inflation, and (in the ELECTION YEAR) Biden got oil production humming again with record production months.
View attachment 1000805

U.S. Field Production of Crude Oil (Thousand Barrels)

It is funny how your chart ends in 2020 and does not show the Biden years.

Here is an updated one:

then to dispute your article, there is this from Reuters:

Biden’s oil boom​

How fossil fuels thrived despite the White House's climate policies

and this:

Why oil companies are raking in record profits under Joe Biden​

and this

Big Oil is doing way better under Biden than under Trump​

and this:

Joe Biden Is Producing More Oil Than Donald Trump Did​

Are you prepared to accept defeat on this, or are you going to stick to your misinformed opinion?

 

[TruthNotBS]

This silly pile of leftwing media balderdash was thoroughly refuted in Post # 342. In case anybody missed it, here it s again >>

• Trump cut taxes more for the lower income groups than for the rich - 3 & 4 % than the rich top bracket > 2.6%
• after 3.5 years of Biden's presidency, we have seen no change in taxation on the rich. Still a relatively low 37%.
• Previous Republican presidents had MUCH higher tax rates on the rich.
• Federal income tax rates and brackets | Internal Revenue Service
• Blue states with bans on rent control, include these states that Biden won in 2020 >> Washington, Arizona, New Mexico, Colorado, Wisconsin, Illinois, Michigan, Virginia, Georgia, New Hampshire, Massachusetts, Connecticut,
• Blue states without a ban, but they also DON'T HAVE rent control >> Nevada, Nebraska, Minnesota, Pennsylvania, New York, Vermont, Maine, Rhode Island, Hawaii.
• So out of 27 blue states, 22 either don't have rent control statewide, or have a ban on it (13 of them).
• In 2016, Hillary Clinton got more $$$ from Wall St fat cats than Trump & Sanders.

And the responses didnt carry any weight either. Oh, so the top 1% of earners after-tax incomes increased more than those of middle- and lower-income earners. Well, that's because the MAKE more money, Duh!

And the fact still remains that the tac cuts for
the lower income groups were larger than than those for the rich.

I have dismissed your INvalid arguments WITH substance, and have focused on facts, which you choose to ignore, Like these >>
Since Eisenhower, Republicans have had tax rates on the rich of 70-92%. In 20 years of Clinton, Obama , and Biden, the tax on the rich never went higher than 39.6%.
Whether you ignore it or not, it remains reality.

Your Argument is Missing Key Context and Oversimplifies Complex Issues

Let me address your claims one by one, and highlight where you’re missing the bigger picture or just plain wrong.

1. Trump’s Tax Cuts for the Wealthy vs. Lower-Income Groups:​

• Claim: Trump cut taxes more for lower-income groups than for the rich.
• Reality: While it’s true that the percentage cuts were higher for lower-income brackets (3-4%) compared to the top bracket (2.6%), this claim ignores the absolute dollar impact of these cuts. The wealthiest Americans saw their after-tax income rise significantly because they make exponentially more money. A 2.6% cut on a multimillion-dollar income far outweighs a 3-4% cut on a modest salary. Furthermore, the corporate tax rate was slashed from 35% to 21%, disproportionately benefiting shareholders and executives—primarily the wealthy.

2. Taxation Under Biden:​

• Claim: Biden has not raised taxes on the rich and their rate is still 37%.
• Reality: The claim is misleading. Biden has proposed multiple measures to increase taxes on the wealthy, such as raising the top marginal rate and increasing taxes on capital gains for those making over $1 million. These proposals have faced significant opposition in Congress, especially from Republicans and moderate Democrats, which has stalled their implementation. It’s not for lack of trying on Biden’s part, but rather a reflection of the political gridlock in Congress.

3. Historical Tax Rates on the Wealthy:​

• Claim: Republican presidents had much higher tax rates on the rich (70-92%) compared to Democratic presidents.
• Reality: This is partially true but lacks context. The high tax rates of 70-92% existed during the mid-20th century, a time of a very different economic landscape. Since the Reagan administration, there has been a bipartisan move towards lowering top tax rates, driven by the belief (often contested) that lower taxes spur economic growth. The economic conditions of the Eisenhower era are vastly different from today’s globalized and technologically driven economy. Moreover, tax policy is more than just the top marginal rate; it includes deductions, loopholes, and other factors that significantly impact effective tax rates, which have consistently favored the wealthy.

4. Rent Control in Blue States:​

• Claim: Many blue states don’t have statewide rent control or have bans on it.
• Reality: This is a misleading point. Rent control policies are often determined at the local, rather than state, level. States like New York and California have cities with strong rent control measures, like New York City and San Francisco. Additionally, Democrats have consistently advocated for affordable housing and tenant protections, even when statewide rent control isn’t feasible. Comparing statewide policies ignores the substantial local efforts in blue states to address housing affordability, which are often obstructed by Republican opposition at the state and federal levels.

5. Wall Street Donations to Democrats:​

• Claim: Hillary Clinton received more money from Wall Street than Trump or Sanders.
• Reality: While Clinton did receive significant Wall Street donations, this point is a distraction. The broader issue is that Democratic policies, particularly from progressive wings, generally favor stronger regulations on financial institutions, which is why you see fierce opposition to progressive candidates like Bernie Sanders from financial elites. The influence of money in politics is a bipartisan issue, and focusing on individual donations ignores the broader policy platforms that differentiate the two parties on economic issues.

6. You Miss the Point on Income Inequality:​

• Claim: "The top 1% saw their incomes rise because they make more money."
• Reality: This is precisely the problem. The top 1% saw their incomes rise disproportionately, exacerbating income inequality. It’s not about whether they make more money; it’s about the fact that the tax system and economic policies disproportionately favor the wealthy, leading to a widening gap between the rich and everyone else. This is the essence of the issue: the rich get richer, and the tax cuts further widen this gap.

Conclusion:​

Your arguments focus on selective data and ignore the broader context and long-term impacts of these policies. The fact remains that Trump’s tax cuts primarily benefited the wealthy, and Biden’s efforts to address economic inequalities have been hampered by political opposition, not by a lack of intent. The simplistic approach to economic policy that your argument takes doesn’t hold up under scrutiny, especially when considering the complex dynamics of taxation, income inequality, and rent control.

 

[Luckyone]

Why would they be not able to get the funds ?

funds are available through taxes. Cut taxes and you cut funding for Medicare and Social Security

 

[Faun]

Trump was a hero with regard to the pandemic >>

• Through the COVID pandemic, our Covid mortality rate was REDUCED from over 17,000/week in April. to about 2000/week in June. and remained very low throughout the year, as a result of the many smart things that Trump did.
  90% REDUCTION. > HUGE SUCCESS.
• Massive production of Ventilators - These were left in short supply after the Obama/Biden admin (we now have so many we're exporting them),
• the Navy hospital ships sent to New York & Los Angeles
• the stimulus checks,
• The Task Force advice (ex. social distancing),
• opposition/criticism of New York's dumb nursing home policies,
• federal aid to hospitals, rapidly expanding production & distribution of medical supplies
• travel bans (which Democrats called Trump a "racist' for),
• Trump's advocacy of Hydroxychloriquin (now proven to be effective, despite criticism from Democrats), and Regeneron.
• fast, continual development of a vaccine, and rapid success of Operation Warp Speed.

LOLOL

You're delusional, gramps. Trump fumbled the ball so bad with how he managed covid, it cost him the election.

 

[Luckyone]

Trump was a hero with regard to the pandemic >>

• Through the COVID pandemic, our Covid mortality rate was REDUCED from over 17,000/week in April. to about 2000/week in June. and remained very low throughout the year, as a result of the many smart things that Trump did.
  90% REDUCTION. > HUGE SUCCESS.
• Massive production of Ventilators - These were left in short supply after the Obama/Biden admin (we now have so many we're exporting them),
• the Navy hospital ships sent to New York & Los Angeles
• the stimulus checks,
• The Task Force advice (ex. social distancing),
• opposition/criticism of New York's dumb nursing home policies,
• federal aid to hospitals, rapidly expanding production & distribution of medical supplies
• travel bans (which Democrats called Trump a "racist' for),
• Trump's advocacy of Hydroxychloriquin (now proven to be effective, despite criticism from Democrats), and Regeneron.
• fast, continual development of a vaccine, and rapid success of Operation Warp Speed.

You did NOT see the video, did you?

See it and get back to me.

In the video, this statistic stood out. By the beginning of April, South Korea (which had moved fast to contain the virus) was going back to business and only 300 deaths had occurred. At the same time, the U.S. had already had 200,000 deaths and they were just then beginning to institute procedures to cope with the virus.

 

[Toddsterpatriot]

1. Trump's Tax Cuts:​

• Claim: Trump reduced taxes on the middle and lower classes more than for the wealthy.
• Reality: The Tax Cuts and Jobs Act of 2017 did provide tax cuts across the board, but the benefits were heavily skewed toward the wealthy and corporations. According to analyses by the Tax Policy Center, the top 1% of earners received a significant portion of the benefits, with their after-tax incomes increasing far more than those of middle- and lower-income earners. Additionally, many of the tax cuts for individuals are set to expire in 2025, while corporate tax cuts are permanent.

even though workers received a small tax cut under the Trump administration, many had to contend with increased expenses that effectively negated the benefits of those cuts. Here are some of the ways workers ended up paying more:

A. Healthcare Costs:​

• Rising Premiums and Out-of-Pocket Expenses: Despite the tax cuts, healthcare costs continued to rise. Premiums for health insurance increased, as did out-of-pocket expenses such as deductibles and co-pays. The uncertainty created by the Trump administration's attempts to repeal and undermine the Affordable Care Act (ACA) also contributed to market instability, leading to higher costs for consumers.
• Elimination of the ACA Individual Mandate: While the removal of the ACA individual mandate penalty might have saved some workers money upfront, it led to higher premiums for those who remained insured, as healthier individuals opted out, leaving a sicker, more expensive pool of insured individuals.

B. Housing Costs:​

• Increased Rents and Home Prices: Housing costs, including rent and home prices, have been rising steadily, outpacing wage growth. The tax cuts did little to address the affordability crisis, and the increased federal deficit limited the government's ability to invest in affordable housing initiatives. Many workers found that their slight tax savings were more than offset by higher housing costs.

C. Education Costs:​

• Soaring Tuition and Student Loan Debt: The Trump administration's rollback of protections for student borrowers and cuts to education funding contributed to the rising cost of education. College tuition and fees continued to increase, as did student loan debt, placing a significant financial burden on working families.
• Reduced State and Local Education Funding: The reduction in federal revenue from the tax cuts put pressure on state and local governments, leading to cuts in education funding. This often resulted in higher tuition at public colleges and universities and reduced services for students.

D. State and Local Taxes:​

• SALT Deduction Cap: The Tax Cuts and Jobs Act (TCJA) capped the state and local tax (SALT) deduction at $10,000, which disproportionately affected middle-class taxpayers in states with higher taxes. This cap effectively raised the tax burden on many workers, particularly those in states like California, New York, and New Jersey, where property and state taxes are higher.

E. Public Services and Infrastructure:​

• Cuts to Public Services: The tax cuts contributed to a ballooning federal deficit, leading to budget cuts at the state and local levels. As a result, public services such as education, transportation, and infrastructure faced funding shortfalls. Workers often had to bear the additional costs of deteriorating infrastructure, such as increased commuting times and vehicle maintenance costs.
• Increased Fees for Public Services: As local governments sought to compensate for reduced federal funding, many turned to raising fees for public services, such as public transportation, utilities, and recreational facilities, further straining household budgets.

F. Childcare and Family Services:​

• Inadequate Support for Childcare: The tax cuts did little to address the rising costs of childcare, which continued to outpace inflation. Working families often found that their tax savings were not enough to cover the increased expenses related to childcare and early childhood education.

G. Inflationary Pressures:​

• Increased Cost of Living: The combination of a higher federal deficit, reduced government spending, and rising healthcare, education, and housing costs contributed to inflationary pressures. The overall cost of living continued to rise, eroding the purchasing power of the tax cuts.

H. Retirement Savings and Social Security:​

• Potential Cuts to Social Security: The increased federal deficit raised concerns about potential future cuts to Social Security and Medicare, which would disproportionately affect working-class retirees. This uncertainty added to the financial strain on workers planning for retirement.

These increased costs and the potential long-term effects on public services and social safety nets mean that the small tax cuts many workers received were often offset, if not entirely negated, by other financial pressures.

2. Rent Control and Housing Costs:​

• Claim: The housing affordability crisis began in 2021 under Biden.
• Reality: Housing affordability issues have been a long-standing problem, exacerbated by decades of policy decisions at both the federal and state levels, including during the Trump administration. While it's true that rents and housing prices have risen sharply during Biden's term, this is partly due to the ongoing effects of the pandemic, supply chain disruptions, and increased demand for housing. The claim that the crisis "began" in 2021 is an oversimplification and ignores the broader economic context.

3. Healthcare Costs Under Trump:​

• Claim: Trump reduced healthcare costs by eliminating the ACA individual mandate and other actions.
• Reality: While Trump did eliminate the ACA individual mandate penalty, which reduced the number of insured Americans, his administration's overall impact on healthcare costs is more complex. Healthcare premiums continued to rise during Trump's presidency, and his attempts to undermine the ACA created uncertainty in the markets, which contributed to cost increases. Moreover, the elimination of the individual mandate led to fewer healthy people enrolling in insurance plans, which put upward pressure on premiums.

4. Inflation and Energy Policies:​

• Claim: Biden's energy policies are responsible for inflation, particularly through oil drilling cancellations.
• Reality: Inflation is a multifaceted issue driven by several factors, including supply chain disruptions, increased demand post-pandemic, and global market trends. While Biden's energy policies, such as canceling the Keystone XL pipeline, have been criticized, they are not the sole or even primary cause of inflation. Rising energy prices have contributed to inflation, but this is also influenced by global oil market dynamics and the actions of OPEC, not solely U.S. domestic policy.

5. Public Services and Infrastructure:​

• Claim: There has been no diminishment of public services and infrastructure post-Trump tax cuts.
• Reality: The reduction in federal revenue due to Trump's tax cuts has put pressure on state and local governments, which rely on federal funding for many public services. While some areas may not have seen immediate cuts, the long-term impact is likely to include reduced investment in infrastructure and public services. The ballooning deficit due to these tax cuts has constrained the government's ability to fund new projects and maintain existing services.

6. General Misrepresentation:​

• Claim: "Mindless propaganda" and parroting left-wing media.
• Reality: The points you raised are grounded in widely recognized data and analyses. Claims of "mindless propaganda" are a common tactic used to dismiss valid arguments without engaging with the substance. It's important to focus on the facts and avoid being swayed by rhetoric that seeks to delegitimize your perspective without evidence.

According to analyses by the Tax Policy Center, the top 1% of earners received a significant portion of the benefits,

What portion did they receive?

 

[protectionist]

the Biden administration has taken steps to increase supply, such as authorizing the largest release of oil from the Strategic Petroleum Reserve in U.S. history and encouraging increased production domestically.

​

Yeah, and right in time for the 2024 election. How convenient. Why didn't he do that in 2021 & 2022 ? We all know why. Because as he promised, he is transitioning away from fossil fuels (and in so doing, gave us the worst inflation anyone has ever seen)

 

[Toddsterpatriot]

Overall, the Democrat Billionaires are more ready to give to charity than the Republican ones.

Show how much, overall, each group has given to charity.

 

[protectionist]

funds are available through taxes. Cut taxes and you cut funding for Medicare and Social Security

FALSE! In 2017 Trump cut taxes. In 2018, revenues INCREASED.
In 2019, increased even more.

U.S. Federal Government Tax Revenue

The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.

www.thebalancemoney.com

 

[Luckyone]

According to analyses by the Tax Policy Center, the top 1% of earners received a significant portion of the benefits,

What portion did they receive?

You have to parse it yourself off of the links I gave you. I do not know the specifics, given that I am not a billionaire (not even a millionaire). I do not know, but the studies do show what it is. I have no need or desire to make you aware of facts, data, and statistics. If you are not interested enough in finding those out, why would I even take the time to try?

 

[Toddsterpatriot]

The reality is that there are many loopholes for rich people that don't exist for anyone else and that is the key to all of this.

In that case, Buffett should talk about all the bad loopholes, instead of lying
about his secretary.

Maybe you could list some of these "rich only" loopholes?

 

[TruthNotBS]

Yeah,a nd right in time for the 2024 election. How convenient. Why didn't he do that in 2021 & 2022 ?We all know why. Because as he promised, he is transitioning away from fossil fuels (and in so doing, gave us the worst inflation anyone has ever seen)

The claim that President Biden deliberately waited until the 2024 election year to ramp up oil production, causing the worst inflation "anyone has ever seen," is misleading. The high inflation seen in 2021 and 2022 was driven by a complex mix of global factors, including the pandemic's disruption of supply chains, the surge in consumer demand as economies reopened, and Russia's invasion of Ukraine, which severely impacted global energy markets. Biden's administration has consistently worked to manage these issues, including releasing oil from the Strategic Petroleum Reserve to stabilize gas prices. The idea that inflation was solely due to a transition away from fossil fuels ignores the broader context of these global challenges.

 

[protectionist]

You did NOT see the video, did you?

See it and get back to me.

In the video, this statistic stood out. By the beginning of April, South Korea (which had moved fast to contain the virus) was going back to business and only 300 deaths had occurred. At the same time, the U.S. had already had 200,000 deaths and they were just then beginning to institute procedures to cope with the virus.

FALSE! Even the CDC admitted their numbers were inflated due to hospitals responding to the CARES Act, which paid them thousand$$ for every Covid death they reported.
People were being pulled out of cars in car accidents dead, and hospitals were reporting it as Covid. Never hear of comorbidities ?

 

[Luckyone]

FALSE! In 2017 Trump cut taxes. In 2018, revenues INCREASED.
In 2019, increased even more.

U.S. Federal Government Tax Revenue

The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.

www.thebalancemoney.com

Do I truly have to explain to you the ABC's of debt?

Simply put, the national debt is similar to a person using a credit card for purchases and not paying off the full balance each month. The cost of purchases exceeding the amount paid off represents a deficit, while accumulated deficits over time represents a person’s overall debt.

This means that the more you owe, the less ability you have to pay off your bills (Medicare, Social Security).

Here is another fact:

Under current law, the nation's debt trajectory will rise from nearly 100 percent of gross domestic product (GDP) in 2024 to 166 percent in 2054. One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.

with less income (taxes), your ability to pay off debt decreases.

 

[Luckyone]

FALSE! Even the CDC admitted their numbers were inflated due to hospitals responding to the CARES Act, which paid them thousand$$ for every Covid death they reported.
People were being pulled out of cars in car accidents dead, and hospitals were reporting it as Covid. Never hear of comorbidities ?

You have not yet seen the video have you?

 

[protectionist]

The claim that President Biden deliberately waited until the 2024 election year to ramp up oil production, causing the worst inflation "anyone has ever seen," is misleading. The high inflation seen in 2021 and 2022 was driven by a complex mix of global factors, including the pandemic's disruption of supply chains, the surge in consumer demand as economies reopened, and Russia's invasion of Ukraine, which severely impacted global energy markets. Biden's administration has consistently worked to manage these issues, including releasing oil from the Strategic Petroleum Reserve to stabilize gas prices. The idea that inflation was solely due to a transition away from fossil fuels ignores the broader context of these global challenges.

HA HA. Dude, I already dismissed your laughable "global" DODGE. You know after being used 100,000 times for some years, it gets a bit stale.

BTW, the "disruption of supply chains" also was caused by Biden's drilling cancellations + cancellation of the Keystone ("transition from fossil fuels), as the doubling of gas/deisel prices inhibited transporting goods to stores - 3rd time I've told you that now (or is it 4th ?)

 

[Luckyone]

In that case, Buffett should talk about all the bad loopholes, instead of lying
about his secretary.

Maybe you could list some of these "rich only" loopholes?

Why is it that I have to do all the work, while you sit there and play dumb? How is it possible that you have never found out this information that is so easily available and known to everyone except small children?

• Claim Depreciation. Depreciation is one way the wealthy save on taxes. ...
• Deduct Business Expenses. ...
• Hire Your Kids. ...
• Roll Forward Business Losses. ...
• Earn Income From Investments, Not Your Job. ...
• Sell Real Estate You Inherit. ...
• Buy Whole Life Insurance. ...
• Buy a Yacht or Second Home.

and many more "loopholes" for the rich.

 

[protectionist]

Do I truly have to explain to you the ABC's of debt?

Simply put, the national debt is similar to a person using a credit card for purchases and not paying off the full balance each month. The cost of purchases exceeding the amount paid off represents a deficit, while accumulated deficits over time represents a person’s overall debt.

This means that the more you owe, the less ability you have to pay off your bills (Medicare, Social Security).

Here is another fact:

Under current law, the nation's debt trajectory will rise from nearly 100 percent of gross domestic product (GDP) in 2024 to 166 percent in 2054. One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.

Yeah, and spending it on illegal aliens. Now who could be behind that ?

 

[protectionist]

Why is it that I have to do all the work, while you sit there and play dumb? How is it possible that you have never found out this information that is so easily available and known to everyone except small children?

• Claim Depreciation. Depreciation is one way the wealthy save on taxes. ...
• Deduct Business Expenses. ...
• Hire Your Kids. ...
• Roll Forward Business Losses. ...
• Earn Income From Investments, Not Your Job. ...
• Sell Real Estate You Inherit. ...
• Buy Whole Life Insurance. ...
• Buy a Yacht or Second Home.

and many more "loopholes" for the rich.

Any wealth group of any level can use these.

 

[Luckyone]

Any wealth group of any level can use these.

You are hurting your own cause when you state "any Wealth group". Secretaries are not considered as being in a "wealth group"