Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[unbillievable]

22 minutes ago, Boatdrinks said:

Don’t need to raise taxes to reduce the deficit. 

 

Raise taxes and lower spending to reduce the debt by more than $3.5 trillion.

 

Still would take 80 years to get to 0...

[Tenhigh]

On 9/27/2021 at 4:38 PM, ALF said:

Under Biden no one earning less then $400K a year will see a tax increase. That sounds more then fair. 

Unless you are married and both work, then it's 450k regardless of location.  And what makes it more than fair?

[SoCal Deek]

How about we raise everyone’s taxes and then sit back and watch how fast this spending plan evaporates? 

[Doc]

16 minutes ago, SoCal Deek said:

How about we raise everyone’s taxes and then sit back and watch how fast this spending plan evaporates? 

 

Flat tax those making more than $1M.  Poof!

[Doc Brown]

4 hours ago, unbillievable said:

How about raising taxes without the pork so we can lower the debt by $3.5 Trillion.

I’m beginning to think MMT enthusiasts better be right or we’re screwed.

Edited September 29, 2021 by Doc Brown

[plenzmd1]

8 hours ago, Doc Brown said:

I’m beginning to think MMT enthusiasts better be right or we’re screwed.

I have been saying that since March of 20, bu to be fair, many have been saying it since 09. I truly became aware of MMT prolly at the beginning of Trump era, and his escalation of the debt. Still don’t think I have a great grasp on it. 

[Orlando Buffalo]

On 9/27/2021 at 7:59 PM, SoCal Deek said:

Some of you people need to own a corporation for a year. It’ll be a real eye opener! (Speaking from experience.)

Why are you threatening me? I will not deal with that kind of paperwork. 😃

[SoCal Deek]

6 minutes ago, Buffalo Timmy said:

Why are you threatening me? I will not deal with that kind of paperwork. 😃

Ha! Here’s what people don’t understand. If my corporation makes a profit at the end of the year we only have a few options. First, we can try to convince the IRS that it’s not a profit by pushing back those earnings saying we’ve got costs related to them next year…but obviously that’s merely a delay strategy and the piper will eventually be paid. Second, we can declare the profit and get taxed on it at corporate rates. Third, we can distribute those profits to our employees and partners which means they all pay taxes on that distribution as regular earnings. There is NO BASEMENT where we can hide the money!!!  Sheeesh

 

By the way, we generally choose a mixture of all three of the above with the LEAST amount being left for corporate taxation. 

[BillStime]

 

[Tiberius]

On 9/28/2021 at 8:17 PM, SoCal Deek said:

How about we raise everyone’s taxes and then sit back and watch how fast this spending plan evaporates? 

Said no one. Damn, Biden is so good you have to sit there stuffing straw men to attack him 

[SoCal Deek]

7 hours ago, Tiberius said:

Said no one. Damn, Biden is so good you have to sit there stuffing straw men to attack him 

You have some of the strangest takes on things. No kidding...."said no one". The last thing any of these politicians (on both sides) want is to have everyone pulling in the same direction, or everyone paying their 'fair share'.  Politicians have learned that they keep their jobs longer if they pit one group of Americans against the other.  

[Irv]

At least Manchin doesn’t have his head up his ass on this idiotic spending plan Demented Biden is pushing. 
 

What

A

Mess

[B-Man]

 

 

UNEXPECTEDLY!

● Initial jobless claims unexpectedly rise.

https://www.foxbusiness.com/economy/initial-jobless-claims-september-25

 

● New Jobless Claims Keep Rising Unexpectedly Despite Nearly 6 Million Americans Dropping Unemployment Benefits.

https://www.forbes.com/sites/jonathanponciano/2021/09/30/new-jobless-claims-keep-rising-unexpectedly-despite-end-to-federal-unemployment-benefits-for-11-million-americans/?sh=7dfac42d1dec

 

● Weekly jobless claims rise more than expected to 362,000.

https://www.cnbc.com/2021/09/30/weekly-jobless-claims.html

 

As Joe Biden warned (threatened?), “Milton Friedman isn’t running the show anymore.”

 

But hey, happy days are here again! Amity Shlaes on Biden As the New FDR: It’s the same old bad deal for jobs.

https://thehill.com/opinion/white-house/552354-biden-as-the-new-fdr-its-the-same-old-bad-deal-for-jobs

 

Not until World War II did joblessness finally begin to subside, in good measure because of military mobilization — important, but not the same as peacetime employment.

 

As often discussed, errors in monetary policy contributed to the misfortune that was the 1930s. The cause of the duration of the Depression, though, was Washington’s persistent intervention. The chief economist at Chase, Benjamin Anderson, noted that after failing by playing God, the government chose not to retire but simply “to play God more vigorously.”

 

The first lesson of this sorry account is that an arbitrary national economic campaign from atop generates damaging uncertainty in the economy. However charmingly it reverberates, the very phrase “bold persistent experimentation” stifles growth.

 

The second point is that what helps the union hurts the worker. President Biden’s proposal to end “Right to Work,” if it becomes law, will dramatically stifle employment.

 

 

Flashback: FDR’s policies prolonged Depression by 7 years, UCLA economists calculate.

 

https://www.ff.org/fdrs-policies-prolonged-depression-by-7-years-ucla-economists-calculate/

 

 

 

 

[Irv]

1 minute ago, B-Man said:

 

 

UNEXPECTEDLY!

● Initial jobless claims unexpectedly rise.

https://www.foxbusiness.com/economy/initial-jobless-claims-september-25

 

● New Jobless Claims Keep Rising Unexpectedly Despite Nearly 6 Million Americans Dropping Unemployment Benefits.

https://www.forbes.com/sites/jonathanponciano/2021/09/30/new-jobless-claims-keep-rising-unexpectedly-despite-end-to-federal-unemployment-benefits-for-11-million-americans/?sh=7dfac42d1dec

 

● Weekly jobless claims rise more than expected to 362,000.

https://www.cnbc.com/2021/09/30/weekly-jobless-claims.html

 

As Joe Biden warned (threatened?), “Milton Friedman isn’t running the show anymore.”

 

But hey, happy days are here again! Amity Shlaes on Biden As the New FDR: It’s the same old bad deal for jobs.

https://thehill.com/opinion/white-house/552354-biden-as-the-new-fdr-its-the-same-old-bad-deal-for-jobs

 

Not until World War II did joblessness finally begin to subside, in good measure because of military mobilization — important, but not the same as peacetime employment.

 

As often discussed, errors in monetary policy contributed to the misfortune that was the 1930s. The cause of the duration of the Depression, though, was Washington’s persistent intervention. The chief economist at Chase, Benjamin Anderson, noted that after failing by playing God, the government chose not to retire but simply “to play God more vigorously.”

 

The first lesson of this sorry account is that an arbitrary national economic campaign from atop generates damaging uncertainty in the economy. However charmingly it reverberates, the very phrase “bold persistent experimentation” stifles growth.

 

The second point is that what helps the union hurts the worker. President Biden’s proposal to end “Right to Work,” if it becomes law, will dramatically stifle employment.

 

 

Flashback: FDR’s policies prolonged Depression by 7 years, UCLA economists calculate.

 

https://www.ff.org/fdrs-policies-prolonged-depression-by-7-years-ucla-economists-calculate/

 

 

 

 

Demented Biden. Since 1776, we have been a country of victors.  Now we reward victims.  Pathetic.  

 

What

A 

Mess

 

 

[B-Man]

 

 

 

House Budget Committee chair tells CNN host the federal gov’t ‘can afford anything it feels it needs to do’

 

 

 

https://twitchy.com/dougp-3137/2021/10/01/house-budget-committee-chair-tells-cnn-host-the-federal-govt-can-afford-anything-it-feels-it-needs-to-do/

 

 

 

 

[JaCrispy]

On 9/28/2021 at 10:54 AM, B-Man said:

 

 

Here's Why Biden Is so Desperate to Sell the Lie That His Plan Costs 'Zero Dollars'

by Nick Arama

 

As we previously reported, Joe Biden is going all-in with this ridiculous claim, suddenly, that his $3.5 trillion budget reconciliation bill costs “zero dollars.” He wasn’t alone in trying to push this claim. As we pointed out, he had Sen. Cory Booker (D-NJ) parroting the claim. Now, other Democrats have jumped aboard the narrative train including Rep. Pramila Jayapal (D-WA), the head of the Congressional Progressive Caucus. Rep. Alan Lowenthal (D-CA) signed on board as well. Here’s White House Press Secretary Jen Psaki trying to sell the same claim. But, of course, what would a Democratic agenda narrative be without help from their buddies

 

More at the link: https://redstate.com/nick-arama/2021/09/27/heres-why-biden-is-so-desperate-to-sell-the-lie-that-his-plan-costs-zero-dollars-n448840

 

 

 

 

Well, when you believe that 2+2 equals whatever you want, it all starts to make cents...😉

Edited October 2, 2021 by JaCrispy

[Backintheday544]

On 10/2/2021 at 4:40 PM, JaCrispy said:

Well, when you believe that 2+2 equals whatever you want, it all starts to make cents...😉

It’s an argument of net vs gross. The tax plan to pay for the bill could net it to $0.

 

Lets contrast this to TCJA, which was also a reconciliation bill. That was a $1.5 trillion dollar hand out to wealthy Americans without any netting component. Hell, Republicans were even lets handout money to Corporations over people so they made all the Corp tax cuts permanent and all the individual tax cuts expire in 2026.

[B-Man]

 

 

 

 

[Doc]

That's infinitely more than Trump gave Vlad...

[B-Man]

 

 

 

 

 

September’s jobs creation comes up short with gain of just 194,000

 

https://www.cnbc.com/2021/10/08/september-jobs-report.html