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They did not ... Labor Report 2019 argues against Trump having any impact, at all.
Unrealistic POV
PS: Amazon closing up 30% of the brick and mortar retail stores across the u.s.; leaving people without jobs --- that's real.
Quote:
Originally Posted by InformedConsent
You're misinformed. There is no doubt that policies which create a better business environment stimulate the economy, and in this particular case (Trump's policies), the low-end wage earners have benefited the most:
That's why everyone needs to adapt when jobs change. That's always been true, and ever will be.
Only gloomy gus stick-in-the-muds get left behind.
The Labor Report clearly states that it is a 'tight' labor market that has nothing to do with any presidential policy, past or present.
Quote:
That's why everyone needs to adapt when jobs change.
The mobility rate for Americans is at an all time low --- they can not afford to move when the jobs dry up in their area.
Now what?
I know, you're just going to stick with the Atlantic article, because it tells you what you want to hear. You're not ready for The Future of Work In America and what is coming, because you can't feel the impact (today in the present) others feel, not when headlines tell you different. Trust, people know that that is not rain on their leg.
The Labor Report clearly states that it is a 'tight' labor market that has nothing to do with any presidential policy, past or present.
The mobility rate for Americans is at an all time low --- they can not afford to move when the jobs dry up in their area.
Now what?
I know, you're just going to stick with the Atlantic article, because it tells you what you want to hear. You're not ready for The Future of Work In America and what is coming, because you can't feel the impact (today in the present) others feel, not when headlines tell you different. Trust, people know that that is not rain on their leg.
Quote:
Originally Posted by InformedConsent
"Tight" labor markets do not result in a 3.5% unemployment rate.
I simply don't buy that. Hell, my kids moved every summer during their college years for their internships.
No, I cited CNBC, as well.
Quote:
"Tight" labor markets do not result in a 3.5% unemployment rate.
Yes, it does ... how old are you? Because I am old ... divorced in 92 and entered an employee job market in 94, not an employer job market. In 2001 right after the towers fell, the job market shifted to an employer market. That had nothing to do with a POTUS or their policies ...
"The fact that the unemployment rate has averaged 3.8% over the past year (its lowest 12-month average since 1970) might make one think that times are flush for American workers and that there is widespread agreement that the U.S. economy is being well managed by elected officials. But while times are better for workers today than they were 10, five, or even three years ago, a crucial ingredient for workers’ well-being—faster-growing wage growth—still hasn’t appeared. This wage failure might be why the public seems unwilling to give President Trump (and his Republican supporters in Congress) credit as good economic managers despite today’s low unemployment rate. In fact, the president and his supporters in Congress are responsible for a number of policy decisions that will reliably harm workers’ future prospects for wage growth."
Quote:
I simply don't buy that. Hell, my kids moved every summer during their college years for their internships.
One, you are going to try and tell people who work and have low wage income jobs that their wages are higher and their benefits are better and they will show you how much is taken in taxes.
"Workers at some of the biggest corporations in the world are paying higher tax rates than their employers, according to a new study by the Institute on Taxation and Economic Policy.
Two, you are not even taking into account the 63% of the people who are no longer engaged in the workforce. That's okay, Trump doesn't either --- he only did that when running for office, saying the employment numbers were fake news under Obama time in office.
Three --- you think that when (globalization and automation shape the labor market) the Amazon and the like come in a remove (30%) retail outlets, (we haven't even talked about software that has replaced the office worker, yet) that people can up and move on the pennies they may have and find a job in another state ---? That is not a realistic pov, and they will tell you it isn't. The stats also, tell it isn't, real.
Final Meet the Low Wage Income Earners and find the ones that don't make it into media articles. The ones, know one talks about ... because it won't fit the narrative. (50 year old hospital housekeeper with no savings, the temp, gig, or contract laborer)
People who live in the real world do not buy into claims --- they know what they have, and what they don't have.
Yes, it does ... how old are you? Because I am old ... divorced in 92 and entered an employee job market in 94, not an employer job market. In 2001 right after the towers fell, the job market shifted to an employer market. That had nothing to do with a POTUS or their policies ...
"The fact that the unemployment rate has averaged 3.8% over the past year (its lowest 12-month average since 1970) might make one think that times are flush for American workers and that there is widespread agreement that the U.S. economy is being well managed by elected officials. But while times are better for workers today than they were 10, five, or even three years ago, a crucial ingredient for workers’ well-being—faster-growing wage growth—still hasn’t appeared. This wage failure might be why the public seems unwilling to give President Trump (and his Republican supporters in Congress) credit as good economic managers despite today’s low unemployment rate. In fact, the president and his supporters in Congress are responsible for a number of policy decisions that will reliably harm workers’ future prospects for wage growth."
Tell that to people today --- but don't expect them to believe, just because it happened for you it will happen for them. United States Mover Rate at a New Record Low
One, you are going to try and tell people who work and have low wage income jobs that their wages are higher and their benefits are better and they will show you how much is taken in taxes.
That's total BS, so I'm not even going to continue to bother with your disinfo.
Want to know what's REALLY going on? Take a look at these two charts from two different valid sources:
The CRS chart (Figure 2) on page 7 of the pdf document, here.
The PGPF chart is interesting in that it includes how federal excise taxes and the corporate income tax affects each income group. Most people don't realize that corporate income tax is included as overhead in the pricing formula for goods/services and is therefore embedded in the price of everything we buy. Corporations don't actually pay it. It's passed on to the end users/consumers. It's a hidden tax on whoever buys/rents a corporation's goods/services/etc.
Most people don't realize that corporate income tax is included as overhead in the pricing formula for goods/services and is therefore embedded in the price of everything we buy. Corporations don't actually pay it. It's passed on to the end users/consumers. It's a hidden tax on whoever buys/rents a corporation's goods/services/etc.
Dubious reasoning. The corporate tax rate was reduced from 35% to 21% and you'll be hard pressed to find any evidence of consumer prices falling as a result. Heck from where this consumer is sitting, prices seem to have increased a good bit since the tax cut. Real world data shows prices up a good bit since Trump took office.
Yes, it does ... how old are you? Because I am old ... divorced in 92 and entered an employee job market in 94, not an employer job market. In 2001 right after the towers fell, the job market shifted to an employer market. That had nothing to do with a POTUS or their policies ...
"The fact that the unemployment rate has averaged 3.8% over the past year (its lowest 12-month average since 1970) might make one think that times are flush for American workers and that there is widespread agreement that the U.S. economy is being well managed by elected officials. But while times are better for workers today than they were 10, five, or even three years ago, a crucial ingredient for workers’ well-being—faster-growing wage growth—still hasn’t appeared. This wage failure might be why the public seems unwilling to give President Trump (and his Republican supporters in Congress) credit as good economic managers despite today’s low unemployment rate. In fact, the president and his supporters in Congress are responsible for a number of policy decisions that will reliably harm workers’ future prospects for wage growth."
Tell that to people today --- but don't expect them to believe, just because it happened for you it will happen for them. United States Mover Rate at a New Record Low
One, you are going to try and tell people who work and have low wage income jobs that their wages are higher and their benefits are better and they will show you how much is taken in taxes.
"Workers at some of the biggest corporations in the world are paying higher tax rates than their employers, according to a new study by the Institute on Taxation and Economic Policy.
Quote:
Originally Posted by InformedConsent
That's total BS, so I'm not even going to continue to bother with your disinfo.
Want to know what's REALLY going on? Take a look at these two charts from two different valid sources:
The CRS chart (Figure 2) on page 7 of the pdf document, here.
The PGPF chart is interesting in that it includes how federal excise taxes and the corporate income tax affects each income group. Most people don't realize that corporate income tax is included as overhead in the pricing formula for goods/services and is therefore embedded in the price of everything we buy. Corporations don't actually pay it. It's passed on to the end users/consumers. It's a hidden tax on whoever buys/rents a corporation's goods/services/etc.
From your FAS (Federation of American Scientist) document link:
"This report describes the federal tax structure and system in effect for 2019. The report also provides selected statistics on the tax system as a whole. Historically, the largest component of the federal tax system, in terms of revenue generated, has been the individual income tax."
Basically what I have been saying and gave the report on above, which if one would read the, "Institute on Taxation and Economic Policy", they would find that:
"The Tax Cuts and Jobs Act (TCJA) established a 21 percent statutory corporate income tax rate. That means corporations must pay 21 percent of their taxable income in federal taxes, but that is not the end of the story. Several breaks and loopholes allow companies to report taxable income that is much smaller than their actual income. Other special breaks allow companies to reduce their tax liability after they apply the rate to their taxable income. The result is that most corporations pay an effective rate that is much lower than the statutory rate of 21 percent."
That is how Jeff Bezos (the wealthiest man in the u.s.) of Amazon (which has wiped out 30% or the retail outlets across the u.s.) gets by with paying zero in taxes and has for the past three years.
"91 companies paid effective tax rates of zero or less on their 2018 U.S. income. Their average effective tax rate was negative 5.9 percent. A negative tax rate means a corporation receives a refund from the IRS."
Now going back to FAS link that you provided:
"The federal government also levies taxes on corporations, wage earnings, and certain other goods. Corporate taxable income is subject to tax a tax flat rate of 21%. Social Security and Medicare tax rates are, respectively, 12.4% and 2.9% of earnings. In 2019, Social Security taxes are levied on the first $132,900 of wages. Medicare taxes are assessed against all wage income. Federal excise taxes are levied on specific goods, such as transportation fuels, alcohol, and tobacco.
Looking at the tax system as a whole, several observations can be made. Notably, the composition of revenues has changed over time. Corporate income tax revenues have become a smaller share of overall tax revenues over time, while social insurance revenues have trended upward as a share of total revenues. Social insurance revenues are a sizable component of the overall federal tax system. Most taxpayers pay more in payroll taxes than income taxes. Many taxpayers pay social insurance taxes but do not pay individual income taxes, having incomes below the amount that would generate a positive income tax liability. From an international perspective, the U.S. federal tax system tends to collect less in federal revenues as a percentage of GDP than other OECD countries."
Jeff Bezos, using him (zero dollar tax payer) as an example, is smart enough not to pay himself a billion dollars a year ...
So who is paying the federal taxes --- we are! and those low wage income earners that get their paychecks garnished each time and every time ... it's great that some are earning more money, sucks that it gets taken away in taxes though.
Thanks Trump ... couldn't have done it without ya.
Dubious reasoning. The corporate tax rate was reduced from 35% to 21% and you'll be hard pressed to find any evidence of consumer prices falling as a result. Heck from where this consumer is sitting, prices seem to have increased a good bit since the tax cut. Real world data shows prices up a good bit since Trump took office.
"There’s no question the economy has been strong since Trump took office, but it was also strong before he took office, a fact he continues to distort as he falsely puffs up his own record."
September’s monthly job report was a bit mixed but overall showed that the level of hiring continues to slow this year. The 136,000-nonfarm employment number was lower than expected but revisions for the previous two months added an additional 45,000.
Weakness in manufacturing in Wisconsin, Pennsylvania and Michigan could doom the president’s re-election chances.
If you are going to try and tell 63% of the people that have dropped out of the workforce, that their wages have increased, do not be surprised if they don't believe you.
Well, Trump did say that wages are too high. But Trump lovers voted for him anyway.
Dubious reasoning. The corporate tax rate was reduced from 35% to 21% and you'll be hard pressed to find any evidence of consumer prices falling as a result.
Think about what you said. Hmmm... If only taxes were the only cost factor in determining prices. Recognize your error yet?
Dubious reasoning. The corporate tax rate was reduced from 35% to 21% and you'll be hard pressed to find any evidence of consumer prices falling as a result. Heck from where this consumer is sitting, prices seem to have increased a good bit since the tax cut. Real world data shows prices up a good bit since Trump took office.
Who said it has to be reflected in the prices? How about....
1) Reflected in higher earnings, thus higher value in stock (thus helping the 55% of Americans who own stock)
2) Reflected in increased hiring (thus the 3.5% unemployment rate helping, well.....everyone)
3) Reflected in higher wages, particularly on the lower-end of the scale (thus helping the lower-income)
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