Biden touts America as having 'strongest economy,' 'lowest inflation rate' in the world despite soaring prices

[mrjurrs]

The consummate Trumper sees no irony.

Ain't capitalism grand?
“Higher interest rates haven’t stopped S&P companies, especially in the big food industry, from inflating consumer prices despite reporting billions in extra net earnings and over a trillion dollars in giveaways to wealthy investors,” Liz Zelnick, the director of economic security and corporate power at the nonprofit Accountable.US, said in a release."

‘Greedflation’ is the new inflation as corporate profits balloon

Some of the largest general consumer S&P 500 companies are raising prices to boost their own profits, even as the Fed raised interest rates to control inflation, according to a new watchdog rep…

thehill.com

 

[renee]

what context? we keep asking and getting nothing.
what were the FACTUAL and PROVABLE "Trump" economic results 2017-2019?

Why do you call yourself an independent when you are obviously a MAGA. I GUESS I WOULD BE ASHAMED ALSO.

 

[MTAtech]

Stop with the hypocrisy and liberal talking points totally ignoring that the American people have a much different opinion than you as yours is all based upon pure selfishness. It is stunning how you ignore that you deducted your high state and local taxes from your federal return depriving the federal gov't of what you claim is much needed revenue. your total liberal bias and ignorance of the private sector is in display here in everything you post. still living in NY? Amazing how poorly informed you are regarding the taxes you pay and their purpose.

 

[Conservative]

Still doesn’t sounds like you understand the difference between personal responsibility and state support. But anyway, since you seem to at least be conceding that if someone loses healthcare, they shouldn’t just be told they’re stupid and lazy and to learn to take personal responsibility, or be left to die, go blind, live with chronic pain, etc… until they learn their lesson. So that’s a small win, I guess.

But as far as state versus federal responsibility, you have no idea how any of this stuff works, do you? Most of the “state support” for the healthcare of their citizens comes from the federal government. You expect these poorer red states to be able to actually be able to afford to support the health care of their citizens?

“Each state’s Medicaid expenditures for healthcare services are matched by federal funds according to various formulas. The formula that governs the majority of government funding takes into account differences in per capita income among the states and is called the federal medical assistance percentages (FMAP). “
https://www.pgpf.org/budget-basics/budget-explainer-how-do-states-pay-for-medicaid#:~:text=Each%20state's%20Medicaid%20expenditures%20for,medical%20assistance%20percentages%20(FMAP).

You should be grateful you still have some semblance of a competent government, and may need to study up on this stuff a little more before you go around so zealously trying to gut the whole system and putting an ignorant power hungry insurrectionist traitor back in the white house.

What is it about personal responsibility and neighbor helping neighbor that you don't understand? why do you support a massive central gov't to solve state and local issues and problems? I really suggest a civics class for the left and stop buying the liberal rhetoric which never generates the promised results

 

[Conservative]

View attachment 67466584

Childish response, I thought you were better than this, again I am always disappointed in giving members of the left any credit at all

 

[AGENT J]

Why do you call yourself an independent when you are obviously a MAGA. I GUESS I WOULD BE ASHAMED ALSO.

What?

 

[ElChupacabra]

Ain't capitalism grand?
“Higher interest rates haven’t stopped S&P companies, especially in the big food industry, from inflating consumer prices despite reporting billions in extra net earnings and over a trillion dollars in giveaways to wealthy investors,” Liz Zelnick, the director of economic security and corporate power at the nonprofit Accountable.US, said in a release."

‘Greedflation’ is the new inflation as corporate profits balloon

Some of the largest general consumer S&P 500 companies are raising prices to boost their own profits, even as the Fed raised interest rates to control inflation, according to a new watchdog rep…

thehill.com

A great example of this is Wingstop, the popular chicken wing fast food company. They decided to keep the price of their wings at the inflated price even after the issues around poultry ended, and their rationale was that if people don't mind paying it, then they'll keep charging those prices.

 

[iguanaman]

Stop with the hypocrisy and liberal talking points totally ignoring that the American people have a much different opinion than you as yours is all based upon pure selfishness. It is stunning how you ignore that you deducted your high state and local taxes from your federal return depriving the federal gov't of what you claim is much needed revenue. your total liberal bias and ignorance of the private sector is in display here in everything you post. still living in NY? Amazing how poorly informed you are regarding the taxes you pay and their purpose.

Paying tax on your taxes is a travesty of justice. We pay our taxes on income and money given to the State is not part of our income. If we want more revenue we raise tax rates. Yours are far too low now.

 

[iguanaman]

A great example of this is Wingstop, the popular chicken wing fast food company. They decided to keep the price of their wings at the inflated price even after the issues around poultry ended, and their rationale was that if people don't mind paying it, then they'll keep charging those prices.

Not to mention that a good part of the country supports higher prices on everything because they can blame Biden. Corporations are overjoyed to make those morons happy too and are laughing all the way to the bank at them.

 

[Conservative]

Paying tax on your taxes is a travesty of justice. We pay our taxes on income and money given to the State is not part of our income. If we want more revenue we raise tax rates. Yours are far too low now.

Money given to the states comes from federal mandates and to pay for federal expenses, It isn't given to the states for anything other than federal law and federal expenses. The left didn't have any problem complaining about deducting their high state and local taxes from their federal return then complaining about the gov't not getting enough revenue. Are you one of those people?

Why are my taxes too low? do you have any clue where the state gets its revenue?

 

[iguanaman]

Money given to the states comes from federal mandates and to pay for federal expenses, It isn't given to the states for anything other than federal law and federal expenses. The left didn't have any problem complaining about deducting their high state and local taxes from their federal return then complaining about the gov't not getting enough revenue. Are you one of those people?

Why are my taxes too low? do you have any clue where the state gets its revenue?

• California ($116.0 billion)
• New York ($79.2 billion)
• Texas ($68.2 billion)
• Florida ($41.7 billion)
• Pennsylvania ($41.0 billion)

https://usafacts.org/articles/which-states-rely-the-most-on-federal-aid/

Over 68 Billion of Federal money goes to Texas every year if that is what you mean. They could be more self-sufficient if they had an income tax. Then you would scream about not being able to deduct it too.

 

[MTAtech]

What is it about personal responsibility and neighbor helping neighbor that you don't understand? why do you support a massive central gov't to solve state and local issues and problems? I really suggest a civics class for the left and stop buying the liberal rhetoric which never generates the promised results

Liberals didn't wake up one day and declare, "let's pass laws that does what neighbor helping neighbor does" or "let's regulate this." There was a need for federal involvement. Hurricanes and tornadoes cause tremendous damage that neighbor helping neighbor was insufficient. There was discrimination in housing; there was tainted food put to market; swindlers manipulated stocks and needed to be stopped; aircraft needed to be guided through airspace; drugs needed to be approved because we witnessed birth defects from drugs put on the market with insufficient testing, etc.

We are a better country with an active federal government.

 

[ModernDiogenes]

Independents do research not post partisan liberal bullshit, ALL TAX RATES except the lowest were reduced giving EVERY taxpayer more spendable income. Biden's inflation destroyed the value

You really need to research better.

The middle class needs a tax cut: Trump didn't give it to them | Brookings

Isabel Sawhill and Christopher Pulliam look at how President Trump's recent tax cuts will hurt the American middle class in the long run.

www.brookings.edu

What Is the Tax Cuts and Jobs Act (TCJA)?

The 2017 Tax Cuts and Jobs Act was a major tax code overhaul that cut taxes for individuals and businesses. Many of its reforms expire in 2025.

www.investopedia.com

All our working and middle class tax cut go away after 2025. The corporate and investor class tax cuts are permanent.

 

[MTAtech]

A great example of this is Wingstop, the popular chicken wing fast food company. They decided to keep the price of their wings at the inflated price even after the issues around poultry ended, and their rationale was that if people don't mind paying it, then they'll keep charging those prices.

That's capitalism. Charge as much as the market will accept, without losing total revenue.

 

[eohrnberger]

Trump was in office through 2020, not just through 2019.

If the inflation we experienced in 2021 and 2022 was the result of Biden's policies, why did the rest of the world experience high inflation as well? Moreover, why did Biden's stimulus checks lead to inflation, but Trump's 2 rounds of stimulus checks didn't?

Finally, if Clinton's economic performance was just due to him working with a GOP congress, then why did the GOP congress have much worse economic performance after Clinton left office since it was the same congress?

Also, why have over twice as many jobs been created under Democratic presidents in the post war era than Republicans? Why has the strongest economies in American history occurred under Democratic presidents rather than Republicans?

Why is it that the top 5 states with the highest average income are all solidly blue states:

Massachusetts
New York
California
Washington
New Jersey

Why is that the bottom 5 states with the lowest average income are all solidly red states:

Alabama
South Dakota
West Virginia
Arkansas
Mississippi

Average Salary By State

Ever wondered how your earnings compare with others on a national scale? Using data from a number of sources, we’ve mapped out the landscape of average salaries across the United States. From the highest to the lowest, these figures will give you the full picture of salaries from state to state,

www.forbes.com

Why is that the average Biden voting zip code had 11 times the GDP of the average Trump voting zip code?

Why is it if you took every zip code ran by Republicans and compared them to every zip code ran by Democrats, that the Republican ran zip codes only total 30% of the country's GDP and if we only had Republican ran zip codes in this country, we would have the economy of a 3rd world country?

Biden-voting counties equal 70% of America's economy. What does this mean for the nation's political-economic divide? | Brookings

This economic rift that persists in dividing the nation is a problem because it underscores the near-certainty of both continued clashes between the political parties and continued alienation and misunderstandings.

www.brookings.edu

This is a religion to you Conservative. You have this idea that Republicans do better with the economy when literally every way you want to measure it, they do terribly. Even in Texas, where is all the GDP generated? Where are all the high income jobs? They aren't in the red parts of the state, they are in the blue cities.

You should thank God every day for blue cities and blue states because they are the ones paying for your Social Security and your Medicare. Blue state taxpayers work hard so you have the time to cash your taxpayer handouts and create over 130,000 posts on here.

top 5 states with the highest average income are all solidly blue states:
Massachusetts
New York
California
Washington
New Jersey
. . .

Biden-voting counties equal 70% of America's economy. What does this mean for the nation's political-economic divide? | Brookings

This economic rift that persists in dividing the nation is a problem because it underscores the near-certainty of both continued clashes between the political parties and continued alienation and misunderstandings.

www.brookings.edu

If this is the case, how is it justifiable that some of these areas shift their State And Local Taxes (SALT) onto the backs of others?

 

[Conservative]

• California ($116.0 billion)
• New York ($79.2 billion)
• Texas ($68.2 billion)
• Florida ($41.7 billion)
• Pennsylvania ($41.0 billion)

https://usafacts.org/articles/which-states-rely-the-most-on-federal-aid/

Over 68 Billion of Federal money goes to Texas every year if that is what you mean. They could be more self-sufficient if they had an income tax. Then you would scream about not being able to deduct it too.

Stop the liberal bullshit, that money goes to federal mandates and federal expenses, California gets over 700 billion dollars back which goes to military basis, federal expenses as well. You keep spouting liberal ignorance on this issue and that is so sad

Most Federally Dependent States in 2023 - A Complete Rundown

Read on to discover the most federally dependent states, which states have the most welfare users, where most federal funding goes, and more.

balancingeverything.com

• California tops the list of states that receive the most federal aid with funding of $726.51 billion.

You think the state taxpayers should be paying for federal mandates and expenses. stop distorting and showing liberal ignorance

 

[Conservative]

Liberals didn't wake up one day and declare, "let's pass laws that does what neighbor helping neighbor does" or "let's regulate this." There was a need for federal involvement. Hurricanes and tornadoes cause tremendous damage that neighbor helping neighbor was insufficient. There was discrimination in housing; there was tainted food put to market; swindlers manipulated stocks and needed to be stopped; aircraft needed to be guided through airspace; drugs needed to be approved because we witnessed birth defects from drugs put on the market with insufficient testing, etc.

We are a better country with an active federal government.

No, you don't hear me complaining about federal tax dollars going to the states because unlike you I understand what they fund. you apparently don't have a clue. There is a role for the federal govt using federal tax dollars and it ISN'T for social programs or healthcare unless funded by a separate tax

Post 466

• California tops the list of states that receive the most federal aid with funding of $726.51 billion.

 

[Conservative]

You really need to research better.

The middle class needs a tax cut: Trump didn't give it to them | Brookings

Isabel Sawhill and Christopher Pulliam look at how President Trump's recent tax cuts will hurt the American middle class in the long run.

www.brookings.edu

What Is the Tax Cuts and Jobs Act (TCJA)?

The 2017 Tax Cuts and Jobs Act was a major tax code overhaul that cut taxes for individuals and businesses. Many of its reforms expire in 2025.

www.investopedia.com

All our working and middle class tax cut go away after 2025. The corporate and investor class tax cuts are permanent.

Oh, stop it, you got a tax cut so don't lie about it and stop distorting the fact that it was the D's that put a sunset in the tax code. DeSantis and a GOP Congress will extend those, Biden won't

 

[MTAtech]

Getting back to the thread...

The fact is, we’ve experienced remarkable progress against inflation, so much progress that it seems almost surreal even to optimists like myself.

I still often see statements to the effect that while we’ve made progress against inflation, there remains a lot of work to be done. But the data says that we’re almost there, and inflation pessimists seem to me to be engaged in almost desperate efforts to find justifications for their pessimism.

And all this progress has been achieved at no visible cost in terms of jobs. In fact, employment recovered with stunning speed from the Covid slump. Here’s one measure, the employed percentage of adults ages 25 to 54, comparing developments since January 2020 with those after the last recession began, in December 2007:



Last time it took more than a decade to achieve a full employment recovery. This time we were above pre-Covid employment within three years. Disinflation hasn’t seemed to require any sacrifice at all, let alone the high “sacrifice ratio” — lots of unemployment to reduce inflation — that many predicted.

Still, hasn’t inflation eaten into workers’ paychecks? Actually, no.

Wage data have been tricky over the past few years. During the worst of the pandemic shutdowns, job losses were concentrated among lower-paid service workers, so that the average wage shot up simply because the worst-paid were not part of the average, then came down as things returned to normal. At this point, however, most of these effects are probably behind us. And the real wage of the average worker — average hourly earnings divided by consumer prices — is higher now than before the pandemic. Prices are higher, but they have been outpaced by wages:



This comparison suggests that since inflation in America was a couple of points higher than inflation in Europe before Ukraine, its peak might have been a couple of points lower without those expansionary policies. Would that have led to a radically different public view of the economy? I doubt it.

So, should fiscal stimulus have been smaller? Yes. Should the Fed have started raising rates sooner? Yes. Would any of that have made much difference to the pretty good place we’re in economically, or the bad place we’re in politically? Probably not.

 

[renee]

What?

Look at your tags

 

[ModernDiogenes]

Oh, stop it, you got a tax cut so don't lie about it and stop distorting the fact that it was the D's that put a sunset in the tax code. DeSantis and a GOP Congress will extend those, Biden won't

Read

 

[Conservative]

Getting back to the thread...

The fact is, we’ve experienced remarkable progress against inflation, so much progress that it seems almost surreal even to optimists like myself.

I still often see statements to the effect that while we’ve made progress against inflation, there remains a lot of work to be done. But the data says that we’re almost there, and inflation pessimists seem to me to be engaged in almost desperate efforts to find justifications for their pessimism.

And all this progress has been achieved at no visible cost in terms of jobs. In fact, employment recovered with stunning speed from the Covid slump. Here’s one measure, the employed percentage of adults ages 25 to 54, comparing developments since January 2020 with those after the last recession began, in December 2007:

View attachment 67466588

Last time it took more than a decade to achieve a full employment recovery. This time we were above pre-Covid employment within three years. Disinflation hasn’t seemed to require any sacrifice at all, let alone the high “sacrifice ratio” — lots of unemployment to reduce inflation — that many predicted.

Still, hasn’t inflation eaten into workers’ paychecks? Actually, no.

Wage data have been tricky over the past few years. During the worst of the pandemic shutdowns, job losses were concentrated among lower-paid service workers, so that the average wage shot up simply because the worst-paid were not part of the average, then came down as things returned to normal. At this point, however, most of these effects are probably behind us. And the real wage of the average worker — average hourly earnings divided by consumer prices — is higher now than before the pandemic. Prices are higher, but they have been outpaced by wages:

View attachment 67466589

This comparison suggests that since inflation in America was a couple of points higher than inflation in Europe before Ukraine, its peak might have been a couple of points lower without those expansionary policies. Would that have led to a radically different public view of the economy? I doubt it.

So, should fiscal stimulus have been smaller? Yes. Should the Fed have started raising rates sooner? Yes. Would any of that have made much difference to the pretty good place we’re in economically, or the bad place we’re in politically? Probably not.

there you go again, no context and typical liberal spin never posting what Biden or liberal policies created those numbers. A couple points higher? ROFLMAO, better do some 2021 research which I know will be difficult for you to do

 

[AGENT J]

Look at your tags

This keeps getting better, what are you personally attacking me for and what in the world are you talking about?

 

[Conservative]

Read

No, you pay attention to the tax rates, if you pay taxes your rates were cut giving you more spendable income, getting tired of posting the facts to the left only to be ignored. TRUMP TAX CUT REDUCED ALL TAX RATES EXCEPT THE LOWEST

 

[renee]

No, you don't hear me complaining about federal tax dollars going to the states because unlike you I understand what they fund. you apparently don't have a clue. There is a role for the federal govt using federal tax dollars and it ISN'T for social programs or healthcare unless funded by a separate tax

Post 466

• California tops the list of states that receive the most federal aid with funding of $726.51 billion.

They also pay more in taxes. H here are the states that take more than they pay in taxes.Virginia, Kentucky, New Mexico and West Virginia get the most back from the federal government, raking in far more than they contribute.