No, the pre-COVID Trump economy was NOT "great"

[ttwtt78640]

Which was steadily going down years before he was elected. So what did he do to make it better, or did he just ride the wave?

The federal regulatory and taxation burdens on businesses were reduced - the Biden plan is to (at least) restore them.

 

[Aurora]

US Debt by President: By Dollar and Percentage

Here are are the numbers.

 

[Bullseye]

The US economy under Trump was not "great" when there were trillion dollar deficits for as far as the eye could see, thanks to the huge Trump/Paul Ryan/Moscow Mitch tax cut for the wealthy elite. They basically destroyed an economy that was humming along at and creating jobs at a good pace.

Obama inherited the "Great Recession" and then took steps to keep the nation away from another Great Depression.
Under Obama, the unemployment went from 10% down to 4.7%, the stock market almost tripled from around 6500 to 19827 on Jan 20, 2016, and the deficit was finally falling to just about half of what it was at its worst. And then Trump and the Repubs screwed it up with yet another huge tax cut for the wealthy that was not needed at all.

Remember Obama's 850 billion stimulus package and how much the right-winger Republicans hated it? And yet they did not seem to realize that was exactly what was the foundation of Trump's so-called "great" economy: trillion dollar stimuli every years. More than Obama's much-needed stimulus package to get move us out of the Great Recession, but EVERY YEAR.

The right-wingers claim that it was the "tax cuts" that caused the "great" Trump economy, but that was only because they resulted in the trillion dollar deficit stimuli.
More hypocrisy from the right-wingers: hate Obama's much needed stimulus when it was sorely needed but look the other way when Trump's UNNEEDED stimuli were in force.
And they put us in a worse position when the COVID hit because the debt was already skyrocketing before the huge economic package was needed to combat the COVID economy.

The numbers prove you wrong. All the Obama inherited . . ." rhetoric is nonsense - the recovery began five months after he took office and was the slowest recovery since WW II. And, NO, Trump's "tax cuts" did not cause a trillion dollar deficit - this year will be the first trillion dollar deficit of his Presidency. And, you're confused; those trillion dollar deficits as far as the eye can see were during OBAMA'S FIRST FOUR YEARS.

 

[Condor060]

Before you read Condor's next lying post, remember that the word "exclusive" is not in the OP. Condor made that up. Condor is lying like always. It really is quite stupid, isn't it?

Which is:

Or maybe I can keep pointing out how you are trying to derail the thread by dishonestly pretending the entirety of the thread is just about a stupid already-answered criticism of the first line.

The answer to your stupid question is that it s dishonest bull**** and is therefore dismissed. That was here, among other places:

Like Bush's tax cuts, Trump's overwhelmingly helped the upper crust. The very bare minimum helped the upper middle class and middle middle class, enough so that people like you can try to score dishonest points by saying "but there's this guy over here who isn't rich - and by the way I personally get to define what counts as rich - who got a tax cut". Which would be moronic on top of dishonest because the simple fact being referred to is that the tax cuts overwhelmingly helped the upper crust. That a few crumbs were thrown to the masses doesn't change that.
​

The thread subject was summarized here, and you keep lying about it:

how the tax cuts severely limited economy-saving responses to COVID-19 - another thing that Trump made far worse with his lying and denying - because they had us borrowing over a TRILLION dollars a year in the "best economy ever."
​

And this is the OP. Note how much if it is not the one sentence you are dishonestly quibbling with.

The US economy under Trump was not "great" when there were trillion dollar deficits for as far as the eye could see, thanks to the huge Trump/Paul Ryan/Moscow Mitch tax cut for the wealthy elite. They basically destroyed an economy that was humming along at and creating jobs at a good pace.

Obama inherited the "Great Recession" and then took steps to keep the nation away from another Great Depression.
Under Obama, the unemployment went from 10% down to 4.7%, the stock market almost tripled from around 6500 to 19827 on Jan 20, 2016, and the deficit was finally falling to just about half of what it was at its worst. And then Trump and the Repubs screwed it up with yet another huge tax cut for the wealthy that was not needed at all.

Remember Obama's 850 billion stimulus package and how much the right-winger Republicans hated it? And yet they did not seem to realize that was exactly what was the foundation of Trump's so-called "great" economy: trillion dollar stimuli every years. More than Obama's much-needed stimulus package to get move us out of the Great Recession, but EVERY YEAR.

The right-wingers claim that it was the "tax cuts" that caused the "great" Trump economy, but that was only because they resulted in the trillion dollar deficit stimuli.
More hypocrisy from the right-wingers: hate Obama's much needed stimulus when it was sorely needed but look the other way when Trump's UNNEEDED stimuli were in force.
And they put us in a worse position when the COVID hit because the debt was already skyrocketing before the huge economic package was needed to combat the COVID economy.
​

Are you incapable of figuring out that the main point of this thread is that the Trump tax cuts left us in an extremely bad position to deal with the fallout from COVID, another thing he made far worse?

Are you incapable of figuring out that by referring to "wealthy elite" he was saying the same thing I have explained to you: that the tax cuts overwhelmingly helped the upper crust?

Are you incapable of figuring out that that was an introduction to the OP, not the entire point of the OP?

Or have you worked it out and are simply trying to derail another thread with your spastic lies?


How about you stop doing that, calm yourself down, and actually address the subject of the thread instead of playing your stupid and dishonest games?

Do it for me, just this once, mmkay?

:coffeepap

When you say tax cuts for the wealthy elite, most people with an IQ higher than a 55 Ford would know that means its exclusive for the wealthy elite.

What was so confusing for you?

 

[watsup]

Sorry, your imagination of what might have happened doesn't count.

What part of,

What is this exclusive tax cut for the wealthy elite

You are having difficulty with?


What part of "I did not use the term exclusive" are you having difficulty with, Condor?

 

[Mr Person]

When you say tax cuts for the wealthy elite, most people with an IQ higher than a 55 Ford would know that means its exclusive for the wealthy elite.

What was so confusing for you?

1. "Exclusive" is not in the OP. You made that up.

2. The thread's subject was addressed at length in post thirteen.

:coffeepap




The OP, which does not contain the word "exclusive":

The US economy under Trump was not "great" when there were trillion dollar deficits for as far as the eye could see, thanks to the huge Trump/Paul Ryan/Moscow Mitch tax cut for the wealthy elite. They basically destroyed an economy that was humming along at and creating jobs at a good pace.

Obama inherited the "Great Recession" and then took steps to keep the nation away from another Great Depression.
Under Obama, the unemployment went from 10% down to 4.7%, the stock market almost tripled from around 6500 to 19827 on Jan 20, 2016, and the deficit was finally falling to just about half of what it was at its worst. And then Trump and the Repubs screwed it up with yet another huge tax cut for the wealthy that was not needed at all.

Remember Obama's 850 billion stimulus package and how much the right-winger Republicans hated it? And yet they did not seem to realize that was exactly what was the foundation of Trump's so-called "great" economy: trillion dollar stimuli every years. More than Obama's much-needed stimulus package to get move us out of the Great Recession, but EVERY YEAR.

The right-wingers claim that it was the "tax cuts" that caused the "great" Trump economy, but that was only because they resulted in the trillion dollar deficit stimuli.
More hypocrisy from the right-wingers: hate Obama's much needed stimulus when it was sorely needed but look the other way when Trump's UNNEEDED stimuli were in force.
And they put us in a worse position when the COVID hit because the debt was already skyrocketing before the huge economic package was needed to combat the COVID economy.
​

A summary, because this is apparently difficult:

how the tax cuts severely limited economy-saving responses to COVID-19 - another thing that Trump made far worse with his lying and denying - because they had us borrowing over a TRILLION dollars a year in the "best economy ever."
​

 

[watsup]

When you say tax cuts for the wealthy elite, most people with an IQ higher than a 55 Ford would know that means its exclusive for the wealthy elite.

What was so confusing for you?


Nowhere did I use the word "exclusive", Condor. You just made that up. Why is that so confusing for you?

 

[watsup]

When you say tax cuts for the wealthy elite, most people with an IQ higher than a 55 Ford would know that means its exclusive for the wealthy elite.

What was so confusing for you?


I had a '55 Ford. Black. My Grandpa gave it to me while I was in college. Had this visor attached to the top front of the roof that hung over the windshield to supposedly block the sun. Looked like an old man's car. But I didn't care. It was a car.

 

[Mr Person]

When you say tax cuts for the wealthy elite, most people with an IQ higher than a 55 Ford would know that means its exclusive for the wealthy elite.

What was so confusing for you?


I had a '55 Ford. Black. My Grandpa gave it to me while I was in college. Had this visor attached to the top front of the roof that hung over the windshield to supposedly block the sun. Looked like an old man's car. But I didn't care. It was a car.

FYI, if you don't hit "Reply with Quote" at the bottom right of someone's post, there wont' be a quote box in your post and it will look like you typed all of it. They also won't receive a notification that they've been quoted.

 

[watsup]

FYI, if you don't hit "Reply with Quote" at the bottom right of someone's post, there wont' be a quote box in your post and it will look like you typed all of it. They also won't receive a notification that they've been quoted.

Thank you. But sometimes I don't want the entire quote. Is there a way to just transfer part of the quote?
Also, learning as a newbie, how do I edit the "personal" info that is listed to the left of the post?

 

[Condor060]

1. "Exclusive" is not in the OP. You made that up.

2. The thread's subject was addressed at length in post thirteen.

There wan't anything to make up. I can help it if you have a common sense problem. It isn't my fault that you think a statement that says tax cuts for the wealthy elite isn't exclusive for the wealthy elite.

Don't you have someone else you can bother?

Nevermind, I'll fix it myself.

 

[Mr Person]

There wan't anything to make up. I can help it if you have a common sense problem. It isn't my fault that you think a statement that says tax cuts for the wealthy elite isn't exclusive for the wealthy elite.

Don't you have someone else you can bother?

Nevermind, I'll fix it myself.

Jesus Christ. Do caps, embiggened lettering, and the color red help?



1. THE OP DID NOT SAY THE WORD "EXCLUSIVE." EVERY SINGLE ONE OF YOUR POSTS IS FOCUSED ON "EXCLUSIVE." NOBODY BUT YOU SAID "EXCLUSIVE."

2. THE SUBJECT IS DESCRIBED IN POST 1 AND POST 13.




PS: what the hell are you talking about with "I'll fix it myself"? Are you going to finally stop talking about "exclusive" and address the actual subject of the thread?

Are you going to address how the tax cuts severely limited economy-saving responses to COVID-19 - another thing that Trump made far worse with his lying and denying - because they had us borrowing over a TRILLION dollars a year in the "best economy ever" ?

C'mon, just this one time. Address the actual subject of the thread.

 

[watsup]

Per Condor: There wan't anything to make up. I can help it if you have a common sense problem. It isn't my fault that you think a statement that says tax cuts for the wealthy elite isn't exclusive for the wealthy elite.

Ummm...because NO ONE said that they were "exclusive" to the wealthy elite. You just made that up out of whole cloth and you keep repeating it as if it means something, which it doesn't. I suppose that you are doing so in order to avoid having to actually discuss the meat of the conversation.

 

[Mr Person]

Per Condor: There wan't anything to make up. I can help it if you have a common sense problem. It isn't my fault that you think a statement that says tax cuts for the wealthy elite isn't exclusive for the wealthy elite.

Ummm...because NO ONE said that they were "exclusive" to the wealthy elite. You just made that up out of whole cloth and you keep repeating it as if it means something, which it doesn't. I suppose that you are doing so in order to avoid having to actually discuss the meat of the conversation.

Annnyway, my only gripe with your OP is that line "They basically destroyed an economy that was humming along at and creating jobs at a good pace."

The tax cuts didn't destroy the economy. Instead, they failed to stimulate the economy. Corporations - already paying absurdly low marginal tax rates - used the extra cash to do things like stock buybacks. Anyone with the slightest understanding of economics knows that a business only builds more widgets if there is a market for more widgets. Nobody is going to invest in equipment and personnel to build widgets nobody is going to buy, simply because they got a tax cut. So as you say, it primarily helped the wealthy. Not quite as bad as Bush's, since the middle middle and upper middle class got a bit more (depending; some saw a tax increase. All depends on how things like the mortgage deduction going away shook out for a given family).

They doubled the deficit to do that. And that's the real problem. Borrowing a trillion a year in a supposedly "best economy ever" means you have so much less maneuvering room to deal with a recession/depression. Which are now wavering towards.


The deficit for the first 9 months of this fiscal year is 2.7 trillion. Almost DOUBLE the deficit Obama was handed for his first year, which included Bush's TARP. Biden, if/when he wins, is going to run an even bigger deficit thanks to the Trump/COVID recession/depression. And they're gonna blame it on Democrats.




The sickest thing? The sickest thing is that nobody can run on raising taxes. But we have to. We must. Neither party will cut spending on the things it deems most important. We are not cutting spending. No matter what one thinks of spending, that's a dead issue. We need revenue. The only way to do that is to raise taxes. Raising taxes is the best way to get voted out. We need to be at Clinton rates, then reassess. It won't happen.

I foresee a dark future.