wages down 28% since 2008- Hope and Change (salaries, elect, federal)
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The price was low when Obama assumed office because of the recession.... supply and demand homie. American is undergoing a massive oil and gas renaissance "under Obama". Production is back to peak historic levels Where have you been? TROLOLOLOLOLOL
sigh... If the supply/demand curve holds true when we have massive production shouldn't prices be going down? Didn't we see this in housing during the boom/bust in real estate? Couldn't have anything to do with the money supply could it? Free money.
sigh... If the supply/demand curve holds true when we have massive production shouldn't prices be going down? Didn't we see this in housing during the boom/bust in real estate? Couldn't have anything to do with the money supply could it? Free money.
No because Americans are not the only people with demand for oil. Besides, Petch is cherry picking her data point. Gas was cheap when Obama took office - only after dropping like a rock - and that's why she used the data point she used. If gas prices kept up with inflation we would be paying between $4.30 and $4.45 by now.
No because Americans are not the only people with demand for oil.
Of course prices drop when supply increases. How can one argue against that? Thats free market supply and demand 101
Quote:
Originally Posted by lycos679
Besides, Petch is cherry picking her data point. Gas was cheap when Obama took office - only after dropping like a rock - and that's why she used the data point she used. If gas prices kept up with inflation we would be paying between $4.30 and $4.45 by now.
Of course prices drop when supply increases. How can one argue against that? Thats free market supply and demand 101
Prices don't drop when demand increases. What do you think China, India, and Brazil are doing with their extra money? Putting it in their mattress? We are currently the #1 producer of oil and will keep that position until around 2030, but much of this is due to shale drilling - which as you know is not the most profitable form of drilling. If we increased supply without having to deal with increased demand or were using traditional oil sources we would have lower prices, but that's not what we are dealing with.
Quote:
Originally Posted by Loveshiscountry
What are you using to gauge inflation? Since Jan '00 gas has increased 176 percent.
One of the reasons gas went up so much between '00 and '08 was the weakening dollar. The value of the dollar dropped like a rock while Bush was in office. Between '08 and '14 there has been little change in the value of the dollar, so the inflation adjusted price decrease we experienced has been due to increasing production.
Prices don't drop when demand increases. What do you think China, India, and Brazil are doing with their extra money? Putting it in their mattress? We are currently the #1 producer of oil and will keep that position until around 2030, but much of this is due to shale drilling - which as you know is not the most profitable form of drilling. If we increased supply without having to deal with increased demand or were using traditional oil sources we would have lower prices, but that's not what we are dealing with.
One of the reasons gas went up so much between '00 and '08 was the weakening dollar. The value of the dollar dropped like a rock while Bush was in office. Between '08 and '14 there has been little change in the value of the dollar, so the inflation adjusted price decrease we experienced has been due to increasing production.
That's what I thought. CPI is a joke. It doesn't measure quality. It measures the cost of health care insurance at less than 1 percent when its cost to the average family was close to ten percent. median family income ~52k cost of health care insurance ~4.8k year. Its governments job to keep inflation down. Why would anyone trust them to honestly gauge inflation?
You are correct about the weakening dollar while Bush was in office. That's what happens when you increase the money supply. You are incorrect about it not weakening with Obama in office. Russia and China are moving away from the dollar.
So you earn more than 99 % of the US people and feel the pain of that portion of your earned income that is greater than $400,000 ( individual) $450,000 (couple) being taxed at a higher rate?
While I do appreciate there is a tendency for expenses to increase as income increases, that is by choice.
The Bush tax cuts became permanent for 99% of the people. While permanent implies forever, all it really means is that it does not require a vote to sustain it.
My gross is below average at 43K, and my net after taxes and deductions is only 30K. After the tax cuts expired, I lost $600 a year which was about the amount of my tax refund. That really hurts when you have a lousy net income like me. I fondly remember when Bush actually gave tax money back to ppl.
My gross is below average at 43K, and my net after taxes and deductions is only 30K. After the tax cuts expired, I lost $600 a year which was about the amount of my tax refund. That really hurts when you have a lousy net income like me. I fondly remember when Bush actually gave tax money back to ppl.
The Bush tax cuts didn't expire for you - they did for people making $400K+. I think you might be thinking of the payroll tax cut, which was temporary ~4% vs 6% on the employee side.
The Bush tax cuts didn't expire for you - they did for people making $400K+. I think you might be thinking of the payroll tax cut, which was temporary ~4% vs 6% on the employee side.
Yeah...which is why any sort of tax "holiday" is usually a bad idea. People get used to it and then think it's an "increase" when things return to normal. I had a lot of good arguments with my conservative friends over that one back in January.
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