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Please, please tell me The plan in place to pay for it, that is consistent , clear and thought out. Please tell me how inflation is controlled as goods & services skyrocketed in the past 5 month. I missed that basic economic class. I’ll wait. Ohhhh, here’s the debt calculator: https://www.usdebtclock.org/
As Orange Man stated when running “Change the tax laws” Smart!
I'd give you money if you can even identify what percentage and or trend, that goods and service prices have changed. Also did it increase YoY or MoM, how many consecutive months?
Secondary to that, if everything is fine and dandy and there is no labor issue(as per you),the market is great, then inflation is supposed to be higher and prices for goods and services are supposed to increase- direct relationship. Why are you even complaining?
Lastly, gas was down because demand dropped. It was natural to to rebound. Lumber prices up, is due to Trump tariffs with Canada, demand increase and the pandemic - the one that Trump ignored.
Did you even read Powells or Yellens comments about new issued debt at current levels? It's justified and actually a good way to reduce overall debt - long term.
You see big number = short sighted and amateur way of thinking. More mature way is, how to take that future big number 10 yrs down the line, which includes matured debt with interest, and reduce it by reissueing new bonds or refinancing at today's super duper low rates so it would be lower 10 yrs from now- basic economics.
But you rather do nothing it appears since it is so great except to worship a certified lying cheater that is destined for jail.
Answering a question with a question. You still didn’t answer my question.
“Inflation when controlled is not an issue - basic economics. Clearly there is a plan in place to pay for it, that is consistent, clear and thought out. “
Please, please tell me The plan in place to pay for it, that is consistent , clear and thought out. Please tell me how inflation is controlled as goods & services skyrocketed in the past 5 month. I missed that basic economic class. I’ll wait. Ohhhh, here’s the debt calculator: https://www.usdebtclock.org/
Ohhh, and by the way. Trump is out of office. Can’t blame him anymore. Blame the guy with a 50+ year experience. With a track record?
The plan is to tax the top 5% more on to help pay for infrastructure, to shift the existing burden on the middle class - no net new taxes towards those that make over 1 million. This is why there isn't a usage/mileage tax. Secondary to that, the new infrastructure plan will increase the tax burden on corporations and raising the taxes back to existing on those that make over 500k, that should fuel growth in new tech and job growth for renewable and American jobs. Lastly, because he is targeting middle class growth, he is understands the barriers for the middle class to obtain those new job - hence training, education, pre- k initiatives so they are not making a choice between families or working.
It is consistent and thought out and targeted towards rebuilding the middle class. It is not a blanket tax break for the wealthy. You may not like it but there isn't much to debate if it's thought out.
Now feel free to answer where do you find or even track the the prices of good and services. Skyrocketed is such a blanket statement and a choice word at least give a percentage or data point. If they were at the lows, they just rebounded but any person that understands basic economics wouldnt confuse the two. Or if supply went down, it is a supply issue. Would be different if Biden is artificially created a supply issue...like a tariff.
Lastly, the Fed always has a target for inflation rate. They have tools to move the middle either way. When it is uncontrolled, it becomes an issue - again basic economics. At 2:30p there is an update by the FED today - should listen in and maybe learn.
So, will the top 5% move if they are taxed more? You don’t think by taxing corporations they will leave the USA? Technology & money can work ANYWHERE! Hey, I agree 100% with you! However, the Swamp (Dem & Rep) created this mess for the exact 1% & 5% you are talking about. Their buddies!
All the pre K & Gov handouts, you don’t think that the middle class will be paying for that?
Ohh, I do listen! And learn! Unfortunately, many have no clue!
Answering a question with a question. You still didn’t answer my question.
“Inflation when controlled is not an issue - basic economics. Clearly there is a plan in place to pay for it, that is consistent, clear and thought out. “
Please, please tell me The plan in place to pay for it, that is consistent , clear and thought out. Please tell me how inflation is controlled as goods & services skyrocketed in the past 5 month. I missed that basic economic class. I’ll wait. Ohhhh, here’s the debt calculator: https://www.usdebtclock.org/
Ohhh, and by the way. Trump is out of office. Can’t blame him anymore. Blame the guy with a 50+ year experience. With a track record?
You really love to have it both ways, don't you. You BLAME Joe for inflation after 100 days and $1.9T stimmy, but IGNORE your buddy "orange man" (you are a weirdly sheepish fan boy of orange man btw) who added $4T to the national debt BEFOE COVID!! WHILE crushing our farmers and making China the most powerful player in the pacific. This complete denial of reality is really a big part of this country's problems. You represent a significant amount of people who really are befuddled. It's not personal, just is what it is.
You pay for spending by taxing. You cut taxes by cutting spending. So simple a caveman or repub or dem could understand it.
So, will the top 5% move if they are taxed more? You don’t think by taxing corporations they will leave the USA? Technology & money can work ANYWHERE! Hey, I agree 100% with you! However, the Swamp (Dem & Rep) created this mess for the exact 1% & 5% you are talking about. Their buddies!
All the pre K & Gov handouts, you don’t think that the middle class will be paying for that?
Ohh, I do listen! And learn! Unfortunately, many have no clue!
Biden/Yellen want to set a minimum Corp tax - foreign and local. They are working with other developed nations to set the same rate- to deter the existing tax evasion. And large corporations are already shift jobs and production else where, they are multinational and it is already happening. Tesla shifted production of 185k Model Ys to China. The minimum tax makes it a more difficult choice to shift - decreases the benefits. To add to monstermagnets previous point - small organizations don't have the scale or the means to shift so it stays local.
They could have left awhile ago but corporations still spend massive amount of money to influence policy and to your point - on both sides. When they stop, I'd be concerned about them leaving. Also when tax rates drop outside our country, it would be more of a concern.
So the new infrastructure plan focuses on jobs in the US, it is again a shift of burden and jobs to a different group. This time, the hope and goal is middle class growth. There is less likelihood of outsourcing.
The middle class was severely hit, and many will lose jobs or will not have jobs. Women and those in low income jobs were hit the most since they had to stay home due to child care. So in both instances there is a reason to complain, but will you complain less with a job or some tax. It's the lesser of two evils in this situation. You get child care, so you can work and get a job that was potentially created and pay taxes to support someone else in the future.
After 50 years in Government, 8 years as a VP All of a sudden he’s going to fix things?
“Biden/Yellen want to set a minimum Corp tax - foreign and local.”
Right! You don’t think corporations are going to pass that increased cost to consumers?
Other nations, set the same rate? They been ripping us off decades!
“So the new infrastructure plan focuses on jobs in the US”
1000000% Agree. Providing it goes to infrastructure! Not like the pork with the COVID-19 stimulus.
“but will you complain less with a job or some tax.”
Sure! Keep taxing! It never ends!
After 50 years in Government, 8 years as a VP All of a sudden he’s going to fix things?
“Biden/Yellen want to set a minimum Corp tax - foreign and local.”
Right! You don’t think corporations are going to pass that increased cost to consumers?
Other nations, set the same rate? They been ripping us off decades!
“So the new infrastructure plan focuses on jobs in the US”
1000000% Agree. Providing it goes to infrastructure! Not like the pork with the COVID-19 stimulus.
“but will you complain less with a job or some tax.”
Sure! Keep taxing! It never ends!
The legislative body is made up of 3 different bodies. In its current form, all 3 are Dems. So it's not just being in govt, it's also a combination of factors that make passing laws or changing them easier right now!!!
I'm beginning to question whether you get basic economics - nothing personal. The rate before Trump was 39.6 and lowered to 21. Did we get price reductions? No the money went to larger profits and stock buybacks. The tax reduces the profits and margins, which is why earnings will suffer and the stock market will lower but ultimately adjust...it dropped in early March because of the news. Supply and demand dictate prices, companies can only raises prices so much, so it is not direct in this instance and likely won't get passed along.
Would you rather be homeless and have no job? It's tax towards the wealthy and super wealthy. They target capital gains taxes over 1 million. Right now the shift is not something you will see.
The legislative body is made up of 3 different bodies. In its current form, all 3 are Dems. So it's not just being in govt, it's also a combination of factors that make passing laws or changing them easier right now!!!
I'm beginning to question whether you get basic economics - nothing personal. The rate before Trump was 39.6 and lowered to 21. Did we get price reductions? No the money went to larger profits and stock buybacks. The tax reduces the profits and margins, which is why earnings will suffer and the stock market will lower but ultimately adjust...it dropped in early March because of the news. Supply and demand dictate prices, companies can only raises prices so much, so it is not direct in this instance and likely won't get passed along.
Would you rather be homeless and have no job? It's tax towards the wealthy and super wealthy. They target capital gains taxes over 1 million. Right now the shift is not something you will see.
By the way, I enjoy our conversation! :-)
Imagine if the rate was still 39.6%? Unemployment would be doubled. Maybe even higher with the pandemic. I did get an income tax deduction. My income tax bracket went down 3%, so it was basically a 3% raise for my wife & I. I can’t complain. ***Although, within the past year my property taxes went up (Not the Feds fault, Suffolk County!) utilities went up, food, the list goes on.
Right! Taxes will reduce profits! Reduce earnings, reduce stock prices (Market at all tie highs). Unless it’s passed along to the consumer. Hence what I stated above ***
Doesn't work that way, large companies have capital they allocate towards many things. It might impact budgets towards marketing, M&A, IT, future investments and research. Jobs and the increasing prices would be included- again its not direct. But you wouldn't be incorrect to assume it could impact job creation, or potentially increase cost of goods down the line as it depends on the company or industry.
Anyways, the original Trump theory was to lower taxes because of trickle down, which you actually mentioned. Companies could and would reinvest and it would lead to more jobs, taxes for the govt and ect. But it lead to bigger bonuses, company stock buy backs and some job growth, which padded the stock price and not what the intent or argument for the tax cuts - shift of money towards the top. So I get why Biden would target that, at 25% it is still competitive and a goal to shift back.
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