ex-President Trump
I assume it's still acceptable to have a Trump thread in a Politics forum?
So this is an obvious lie - basically aimed at low-info Boomers like my religions aunts. I have two questions:
a) Is anyone here who supports Trump bothered by lies like this?
b) Does anyone know what he's even talking about here? Like is there some grain of truth that he's embellishing on bigly?
The idea that tax cuts increase prices must be one of the most stupid things I have ever heard about macroeconomics.
Ofc they can if you tax cut with deficit, as all deficit is inflationary (but tax cut are LESS inflationary than government consumption obviously, as a portion of the tax cut won't be spent).
But if you cut taxes by 1 trillion and expenses by 1 trillions, demand is LOWER.
Taxpayers having one trillion more in their pockets won't spend the whole trillion, so total demand goes down one trillion (expenses cut) and up by the... Propensity to consume of the recipkents of the tax cut.
Which is rarely 100% because... Tax cuts mainly benefit the well off (the poor's have little taxes to cut to begin with!!!), who are those in society with the highest saving rates!
Publishing a piece with that 3) bullet point is such an insult to anyone who ever studied basic macro that it makes everything else they say about the economy not even worth reading ever (which shouldn't surprise anyone given the source is very leftist)
Lesson No. 3: Tax cuts can lead to higher prices
[QUOTE=Luciom;58564454]The idea that tax cuts increase prices must be one of the most stupid things I have ever heard about macroeconomics.
Ofc they can if you tax cut with deficit,/QUOTE]
[QUOTE=Luciom;58564454]The idea that tax cuts increase prices must be one of the most stupid things I have ever heard about macroeconomics.
Ofc they can if you tax cut with deficit,/QUOTE]
it's not tax cuts, it's the deficit which is always inflationary. And among all deficit expenses, tax cutting is one of the less inflationaries as explained for obvious reasons
The discussion is about trump policies and even before covid, his tax cuts caused an increase in the deficit. So why should the second time be any different?
The discussion is about trump policies and even before covid, his tax cuts caused an increase in the deficit. So why should the second time be any different?
We may never know and we may find out. We know Biden will increase the deficit for sure . With Defense, entitlements and debt service running a surplus is next to impossible
Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds
Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds
Every tax is different and every moment in time is different and every country is different.
Hard to claim Ireland would have the same economic growth with France level taxation (actually impossible: we are absolutely certain it wouldn't) for example.
Easy to claim that raising federal income taxes in the USA right now by say 3% in each bracket could not have disastrous effect, or cutting 3% from today levels could not bring about more growth in the next 10 years.
But that wasn't the claim at all, the claim was that tax cuts are inflationary lol and they aren't when coupled with same size expense cuts they are actually always deflationary
Because eventual tax cuts are decided by CONGRESS not POTUS and if Trump wins it's a very different congress that the 2016-2018 one
As if a Republican congress wouldn’t vote in the same direction as a Republican president and vice versa ?
Btw president can veto it right ?
To say presidents have no influence on the budget is a cop-out …
Regardless I have no idea what the fuss is all about tax cut .
Tax cut are inflationary and tax hike are deflationary .
And those inflation/deflation reactions will depends on whose benefited/drawback from those tax cuts/hikes.
Rich people will impact financial assets (S&P index, etc) while middle class and lower will impact the real economy (CPI index) .
As if a Republican congress wouldn’t vote in the same direction as a Republican president and vice versa ?
Btw president can veto it right ?
To say presidents have no influence on the budget is a cop-out …
Regardless I have no idea what the fuss is all about tax cut .
Tax cut are inflationary and tax hike are deflationary .
And those inflation/deflation reactions will depends on whose benefited/drawback from those tax cuts/hikes.
Ri
lol Jesus tax hikes are deflationary only if you tax and use that money to pay down the debtz if you tax to spend more they are inflationary, because what you are taxing wasn't 100% bring consumed, especially if you increase taxes on the rich.
asset price changes aren't inflation/deflation, please read some economics 101.
example for housing: if rent stays the same and house prices double that's 0% inflationary. same if rent stays the same and house prices halve
lol Jesus tax hikes are deflationary only if you tax and use that money to pay down the debtz if you tax to spend more they are inflationary, because what you are taxing wasn't 100% bring consumed, especially if you increase taxes on the rich.
asset price changes aren't inflation/deflation, please read some economics 101.
example for housing: if rent stays the same and house prices double that's 0% inflationary. same if rent stays the same an
The government isn’t the sole creator of inflation/deflation ….
If you get money out of my pocket it surely will be hard for me to create inflation unless I borrow.
Furthermore you know how much debt Japan for example created massive amount of debt and money and still it’s wasn’t inflationary for decades ?
Again , It’s ok if you think inflation /deflation is solely a cpi thing …
It’s wrong but it’s ok.
Inflation is far more complicated then looking at cpi .
Your housing example makes no sense.
Ps: there is a reason its called 101 economic , because its the base but there is higher level of understanding.
there is a reason most economic professor aren’t millionaire and billionaires but money managers are ….
But from a « libertarian » pov like you ( dubious libertarian but w.e), your stance isn’t surprising .
https://realinvestmentadvice.com/where-i...
A very dangerous fallacy has taken the world of economics by storm over the last several years: the idea that there is very little inflation in the U.S. economy, therefore interest rates should remain at unusually low levels for an even longer period of time. As I will prove in this piece, the people who believe in the “low inflation” myth are being fooled by the fact that inflation in this unusual, central bank-driven economic cycle is concentrated in asset prices rather than in consumer prices.
FWIW when the cost of money go down , asset prices inflates because the currency goes down in value .
That’s Inflation and it doesn’t take rocket science to understand.
So it’s not because asset price isn’t represented in the cpi and gdp growth that they don’t exist and inflation isn’t represented by them .
It’s the same concept of believing gdp grows so the economy going well because we never include the government deficit in the gdp calculation ….
Trump really does appeal to a to a Venn diagram of overlapping circles who are both cruel and ****ing idiots
One of his former aides does a tiktok video bragging about how he gives homeless people counterfeit 5s so they get arrested if they try to use it (cruel)
It’s also a crime punishable by fines and/or prison to knowingly pass off counterfeit money (****ing idiot)
Trump really does appeal to a to a Venn diagram of overlapping circles who are both cruel and ****ing idiots
Here's a fun one - Three Bob Night: Two more Bob Fergusons ...
Conservative activist Glen Morgan recruited two people who share a name with the Democratic front-runner for governor to also seek the state’s highest office. They officially filed to run Friday, at the close of Washington’s candidate filing week.
“If I had started a little bit earlier, I would have been able to have six Bob Fergusons,” Morgan said. “I contacted about 12. I just ran out of time.”
State statutes say that it is a felony for a person to file a declaration of candidacy with a “surname similar to one who has already filed for the same office, and whose political reputation is widely known, with intent to confuse and mislead the electors by capitalizing on the public reputation of the candidate who had previously filed.”
🙄
well the statute says similar, these are identical which isn't the same as similar...
Trump is so obviously guilty isn't he?
In this case there is no doubt he paid her and it was improperly reported on financial statements. The question is whether that was a crime or not. My understanding is that in NY the financial reporting needs to be in the furtherance of another crime NY crime. That's what needs to be proved here. I don't know much, but it seems kind of shaky. We'll see if the state can prove that.
There's nothing shaky about it, he very clearly falsified business records to hide the illegal use of campaign funds. The DA isn't going to go after a presidential candidate without being extremely sure of their case.
In this case there is no doubt he paid her and it was improperly reported on financial statements. The question is whether that was a crime or not. My understanding is that in NY the financial reporting needs to be in the furtherance of another crime NY crime. That's what needs to be proved here. I don't know much, but it seems kind of shaky. We'll see if the state can prove that.
yes the other crime purportedly would be election interference which is quite absurd, it isn't election interference to try to keep some private event a secret
