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Wage growth outpaced inflation for the first time in a while last year and this year looks even better. With the lower taxes/withholding that amounts to a significant improvement in purchasing power for the working class. Getting rid of all these illegals will help too, working class wages have been suppressed by an over supply of low skilled workers willing to work for less than Americans. Need growth and a labor shortage to see significant wage growth.
Nope, lower taxes is not the solution to 20 years of stagnant wages. It just means that people get less in Medicare, Social Security and public services. So taxes have to be paid for by the working class. With extra interest. And as long as unions are destroyed, the business class wont do much to fight against illegal immigration anyway. A very low minimum wage and unionization rate means the US labor market is very attractive to third world immigration and the business class who owns the political system take advantage of that.
The solution to stagnant wages is public funding of elections, massively strengthening unions and implementing a national health care system like a Medicare-for-all system. Not supporting Wall Street and the ruling business class.
The growth rate over the last four quarters came in at 2.9 percent, which was higher than any of the eight years of Barack Obama's presidency.Halfway through this current quarter, which began on April 1, the Atlanta Federal Reserve estimates growth at 4 percent. If that persists through the end of June, we will have reached an average growth rate of 3 percent under Donald Trump.
The Congressional Budget Office reports that tax revenues in April -- by far the biggest month of the year for tax collections because of the April 15 filing deadline -- totaled $515 billion, which was a robust 13 percent rise in receipts over last year.
MoneyWeek reports that the $218 billion monthly surplus (revenues over expenditures) this April was the largest ever, with the previous record being $180 billion in 2001. (April is always the one surplus month.)
Here's the simple lesson: More growth, more tax revenue.
Thats such nonsense from the "Heritage Foundation". No one has said that 3% growth is impossible for a year or two. Hell Obama had 2.9% growth a couple of years ago. The problem is that it will not be sustainable over time. Massive fiscal stimulus have been used to achieve a high growth rate and it will have to be paid back. Heritage Foundation of course knows this. They actually want to eliminate Social Security and Medicare. That goal was one of the main reasons it was founded. And they cheer this on.
The market doubled nearly 4.5 years after Obama was in office. If we assume a president has some role in that and can take credit, he'd need the Dow to hit around 37-38k by Jan 2021. Technically speaking, we are on pace. But that's only because the market skyrocketed last year. Bull markets don't last forever.
Quote:
Originally Posted by Finn_Jarber
The markets are in the red for the year.....
Yes, but the market also had a correction. It is puzzling though that it would be red. It was like the moment tax cuts were passed the market got shaky.
Quote:
Originally Posted by Listener2307
Can't say as I care much, but the NeverTrumpers have evidently discovered they are oh-so-interested in national GDP. So they must have been alarmed and outraged when they saw growth go to 1.2% in Q1, 2017. And frightened witless when it went to -1.0% in Q1, 2016
The trendline for GDP hasn't budged from the "Obama Years" into the "Trump Years." So, the best argument Trumplets have is "He isn't ***king anything up too bad" For someone that claims to have the best/greatest/most excellent business acumen ever in the history of this planet, doing "just as good as the other guy" is considered a triumph?
Same with unemployment figures. They have been in a consistent downward trend. Unemployment figures haven't dropped any faster with Trump in office.
So the takeaway from this can either be:
- The President can take little credit for these economic factors - or -
- The President is simply meeting the status quo of his predecessor
Nope, lower taxes is not the solution to 20 years of stagnant wages. It just means that people get less in Medicare, Social Security and public services. So taxes have to be paid for by the working class. With extra interest. And as long as unions are destroyed, the business class wont do much to fight against illegal immigration anyway. A very low minimum wage and unionization rate means the US labor market is very attractive to third world immigration and the business class who owns the political system take advantage of that.
The solution to stagnant wages is public funding of elections, massively strengthening unions and implementing a national health care system like a Medicare-for-all system. Not supporting Wall Street and the ruling business class.
I thought trump had come to his senses over the tariffs, but today it looks like they are going to start at least a skirmish with Europe, Mexico and Canada - the main importers of US goods. EU is ready with counter tariffs that will hit certain sectors of the country hard. And the talks with China have not gone well with China supposedly organizing other nations to retaliate en masse against the US. These days will be remembered as the good old days of economic boom. We could well be heading down the road to a bust and a world wide depression.
Yes, but the market also had a correction. It is puzzling though that it would be red. It was like the moment tax cuts were passed the market got shaky.
It would be worse without the tax cuts, because companies are pumping the tax savings into the stock market, keeping it up.
I thought trump had come to his senses over the tariffs, but today it looks like they are going to start at least a skirmish with Europe, Mexico and Canada - the main importers of US goods. EU is ready with counter tariffs that will hit certain sectors of the country hard. And the talks with China have not gone well with China supposedly organizing other nations to retaliate en masse against the US. These days will be remembered as the good old days of economic boom. We could well be heading down the road to a bust and a world wide depression.
He got his funding in Indonesia and he/Ivanka got bunches of trademarks approved in China.
He doesn’t care about any one else’s income or livelihoods.
I thought trump had come to his senses over the tariffs, but today it looks like they are going to start at least a skirmish with Europe, Mexico and Canada - the main importers of US goods. EU is ready with counter tariffs that will hit certain sectors of the country hard. And the talks with China have not gone well with China supposedly organizing other nations to retaliate en masse against the US. These days will be remembered as the good old days of economic boom. We could well be heading down the road to a bust and a world wide depression.
I think a worldwide depression is a remote possibility, but not completely unthinkable.
The tRump/GOP tax cuts are just a sugar high that'll peter out before long, most likely. Then, continuing stagnation in middle/working class income will once again be the main factor that brings on the next downturn.
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