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lol what the heck, you just add them all together? That's kind of like saying gas costs $9.00 a gallon because it was $5 a gallon yesterday and $4 today.
A lot of people have NO clue how badly they're getting screwed by Bidenflation. That's because far too few people have even a basic understanding of finance, economics, etc.
It's actually even worse than just adding them together. That's because the effect of inflation is compounded.
Try it yourself with an inflation calculator. Put 2020 and 2023 in the year fields and whatever dollar amount you wish (the inflation rate will be the same, regardless). You get an inflation rate of 18.6% for just that 3 year time period.
A price rise of 7% in year one, followed by 6.5% (on top of the 7% price rise) followed by 3.7% on top of the two increases means that prices are roughly 17% higher now than on the baseline. And don't forget compounding which actually means the number is a bit higher - in this case about 18% and change.
Schools need to start teaching this stuff rather than Shakespeare. Maybe we'd be in better shape.
LOL. We both just said the same thing.
I honestly feel sorry for people who go through life so clueless. They're at a HUGE disadvantage. HUGE.
lol what the heck, you just add them all together? That's kind of like saying gas costs $9.00 a gallon because it was $5 a gallon yesterday and $4 today.
uhm that IS how you do inflation, were you not taught this in school?
I'll give you an easy math problem
year one.... item costs 10
inflation 10%
year two.. item now costs $11
inflation also 10%
year three.. item now costs 12.10
inflation is still 10%
year four.. item now costs 13.31
total over the 3 years using normal math... 30%
actual total over the 3 years using cumulative (compounding) costs.... 33%
A lot of people have NO clue how badly they're getting screwed by Bidenflation. That's because far too few people have even a basic understanding of finance, economics, etc.
It's actually even worse than just adding them together. That's because the effect of inflation is compounded.
Try it yourself with an inflation calculator. Put 2020 and 2023 in the year fields and whatever dollar amount you wish (the inflation rate will be the same, regardless). You get an inflation rate of 18.6% for just that 3 year time period.
yep, those tax cuts for the poor and middleclass, going away..... are liberals trying to help the middleclass.... nope they lie and say those cuts were for the rich, (they were not) and they WANT THEM TO SUNSET, they WANT TO SCREW THE MIDDLECLASS, all in the name of politics
I'm pretty sure that if you do a little research you will find that it was Republicans who called for those tax rates to expire in 2025 and for the ones going to the billionaires and large corporations to be made permanent.
I'm pretty sure that if you do a little research you will find that it was Republicans who called for those tax rates to expire in 2025 and for the ones going to the billionaires and large corporations to be made permanent.
Billionaires, as individual taxpayers, will have the exact same expiration of tax cuts as everyone else.
As for corporate taxes? I can't believe I have to explain this, AGAIN... From WHOM do businesses/corporations get the revenue to pay their taxes? It doesn't just magically appear; it has to come from somewhere. WHO provides that revenue? THAT'S who's paying corporate/business taxes.
I'm pretty sure that if you do a little research you will find that it was Republicans who called for those tax rates to expire in 2025 and for the ones going to the billionaires and large corporations to be made permanent.
im pretty sure if you actually look it up...you will see that the DEMS DEMANDED it have a sunset, so it could be argued later... and with having a sunset, they could say it will only cost this over a decade, because it will only last 8 years.
the point though is that what is sunsetting is the tax breaks for the poor and middleclass... AND BIDEN PROMISED that he would not allow taxes for those under 400k to rise.... if the sunset happens... another lie from Biden and the liberals...
Billionaires, as individual taxpayers, will have the exact same expiration of tax cuts as everyone else.
As for corporate taxes? I can't believe I have to explain this, AGAIN... From WHOM do businesses/corporations get the revenue to pay their taxes? It doesn't just magically appear; it has to come from somewhere. WHO provides that revenue? THAT'S who's paying corporate/business taxes.
As individual taxpayers billionaires have so many tax breaks that most of us have never even heard of that it's not even funny.
Quote:
Between 2014 and 2018 25 of the richest Americans paid 3.4% in tax. In recent years, the median American household earned about $70,000 annually and paid 14% in federal taxes. The highest income tax rate, 37%, kicked in this year, for couples, on earnings above $628,300. https://www.propublica.org/article/t...oid-income-tax
I may be bad at math but I'm pretty sure 14% is more than 3.4"
So if we cut all tax rates to zero we will have unlimited funds for the government? That's ridiculous.
What spending should be cut that will make an actual difference? How about cutting $400 billion from DoD?
3/4 of the total budget is social safety net programs... cut those
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