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but let's spend oodles more money, if sinema can be bought off to sign on like manchin was. that'll fix it.
Quote:
Hints of distress are bubbling up everywhere.
Wages aren’t keeping up with inflation, people have felt gloomier, and they’ve been forced to dip into savings and credit cards, economist said. Consumer confidence in the economy fell for the three consecutive months ending in July, according to the Conference Board, and the University of Michigan’s sentiment index hovers near record lows.
The personal-savings rate, which surged more than 33% during the height of the pandemic, dropped in June to 5.1%, the lowest since the Great Recession in 2008.
Meanwhile, total household debt rose $312 billion, or 2%, in the second quarter, to $16.15 trillion, the New York Federal Reserve said this week. Mortgage balances, the largest component of household debt, climbed $207 billion, to $11.39 trillion as of June 30, but credit-card balances also surged. Balances posted their largest year-over-year percentage increase in more than 20 years and aggregate limits on cards marked their largest increase in more than 10 years. https://www.msn.com/en-us/money/mark...omMaestro=true
but let's spend oodles more money, if sinema can be bought off to sign on like manchin was. that'll fix it.
It is like opposite day- think of the most reasonable, logical, rational approach to a problem, then do the opposite; 99% of the time that will be the democrat plan.
Last edited by Ibginnie; 08-05-2022 at 08:00 AM..
Reason: flaming
Yes im sure all of you are economic experts that understands this topic enough to say how it will affect inflation.
And im SURE the record profits on corporations have nothing to do with it at all....
I really wish the democrats would at least call bills what they are... its the "more spending, higher inflation, higher taxes, screw the middleclass with the IRS bill"
even left leaning Wharton College says it will NOT reduce inflation, as it is so titled
Yes im sure all of you are economic experts that understands this topic enough to say how it will affect inflation.
And im SURE the record profits on corporations have nothing to do with it at all....
The left got put in time out for telling us we need to be experts in the area of biology in order to know what the difference is between a man and a women. So no one is listening to yall for awhile until you can be more reasonable about when and where these "experts" are needed. In this case, it does not take an economic genius to understand increased government spending = more inflation. That's why the Obama administration pushed government spending as a fix for low inflation/deflation during his time as president. Today, we are dealing with the opposite, so obviously, it's time for a new strategy besides more government spending, which economists know and understand is inflationary.
I should also point out those experts you worship have been wrong wrong wrong about inflation for the past 2 years. First it wasn't happening, then it was "transitory", and now they act like they have no clue what inflation is. Basically playing dumb. Those are your experts. Better you than me.
I really wish the democrats would at least call bills what they are... its the "more spending, higher inflation, higher taxes, screw the middleclass with the IRS bill"
even left leaning Wharton College says it will NOT reduce inflation, as it is so titled
There is no easy cure for inflation and it is worldwide, other than raising interest rates there is no solution.
Yes im sure all of you are economic experts that understands this topic enough to say how it will affect inflation.
And im SURE the record profits on corporations have nothing to do with it at all....
LOL, record corporation profits do not cause inflation. Inflation is caused by an excess of currency, a demand for goods and either a real or perceived shortage of those goods. Inflation is caused when people value goods more than they value the particular currency they need to use to buy said goods.
I wish people who chimed in with their brilliance actually had some.
BTW, corporations do not pay tax. They pay their taxes from the profits they make. When you raise taxes on a business, that cost is just added to the expense side of the balance sheet. This is the same when any other cost increase is incurred. The added cost is factored in to the total cost of the goods or services sold. Then the price is increased to keep the profit margin percentage the same and the customer pays more to offset those cost increases. Major corporations and large businesses have a fixed profit margin they must maintain to stay in business. They don't just accept less profit when cost are increased, they raise prices. Only a fool thinks the CEO or some other corporate officer just writes a check at the end of the year to the government to pay those added taxes.
I wish people had actually ran a business before they chime in with silly stuff like corporations are causing inflation. In my near seventy years on this earth I have owned numerous businesses both domestic and international. I have bought distressed businesses, sold several businesses, and have had numerous employees. But, I have never once just dropped my minimum profit margins due to a cost increase, and neither has any mid to large business owner I ever knew.
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