We Could EASILY Fix Inflation Without Raising Rates

[JimmyBT]

12 hours ago, red viking said:

Yup. Deficit will go even higher but you'll hypocritically stop complaining about it. 

Like you’re complaining now?  Oh wait you’ll only complain if fat Donny wins. Hypocritically is a word you should research. 

[red viking]

1 hour ago, JimmyBT said:

Like you’re complaining now?  Oh wait you’ll only complain if fat Donny wins. Hypocritically is a word you should research. 

I am complaining now. Even though I'm liberal. I'm not a hypocrite. 

[JimmyBT]

Not on here you’re not.  Please show me a couple mush brain Biden complaints. I’ll wait. 

Edited March 24 by JimmyBT

[red viking]

1 hour ago, JimmyBT said:

Not on here you’re not.  Please show me a couple mush brain Biden complaints. I’ll wait. 

I've said SEVERAL times that Biden has continued the deficit spending. Not as high as fat donny, but still way too high. 

[JimmyBT]

3 hours ago, red viking said:

I've said SEVERAL times that Biden has continued the deficit spending. Not as high as fat donny, but still way too high. 

You’ve never complained about Mush Brain once.  

[JimmyBT]

3 hours ago, red viking said:

I've said SEVERAL times that Biden has continued the deficit spending. Not as high as fat donny, but still way too high. 

You should probably go back to Obama then huh???  Doubled the deficit during his watch. 

[red viking]

30 minutes ago, JimmyBT said:

You should probably go back to Obama then huh???  Doubled the deficit during his watch. 

Went up more under the Bushmaster and he didn't even have to deal w the great recession. 

https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225

[red viking]

32 minutes ago, JimmyBT said:

You should probably go back to Obama then huh???  Doubled the deficit during his watch. 

Went up more under the Bushmaster and he didn't even have to deal w the great recession. 

https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225

[red viking]

4. George W. Bush (2001 to 2009)

President George W. Bush added about $4 trillion to the U.S. national debt.18 Military spending increased to record levels under Bush, due to launching the war in Afghanistan and War on Terror in response to the September 11, 2001 attacks, as well as the Iraq War in 2003. Additionally, Bush supported and signed into law significant tax cuts which contributed to increases in national debt. Bush and his administration also dealt with recessions in 2001 and 2008 (the Great Recession).2021

[red viking]

Typical winger. Skyrocket military spending and cut taxes at the same time. 

[JimmyBT]

12 minutes ago, red viking said:

Went up more under the Bushmaster and he didn't even have to deal w the great recession. 

https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225

Oh so Obama gets a pass but trump doesn’t for Covid.   You’re hilarious. 

[JimmyBT]

I’m still waiting for your complaint about Biden.  Tick tock. 

[JimmyBT]

Mush Brain Biden is on pace to pass all of them.  

[red viking]

29 minutes ago, JimmyBT said:

I’m still waiting for your complaint about Biden.  Tick tock. 

I have several times

[JimmyBT]

1 hour ago, red viking said:

I have several times

Where ???   

[Lipdrag]

On 3/14/2024 at 2:46 PM, red viking said:

It's very simple. Just raise taxes.

 

[Lipdrag]

On 3/24/2024 at 7:43 PM, red viking said:

significant tax cuts

Wrong.

2002 (first year any Bush proposals could have been enacted as he was inaugurated Jan 2021) fed tax revenue = $1.85 trillion

2008 tax revenue = $2.52 trillion.

36.2% increasae!!  Inflation over the same time was 19.7% so revenue was up 16.5% on a real-dollar basis. 

NO TAX CUT HAPPENED.  You are misinformed.

 

[mspart]

I remember when Carter introduced what he called a Lean and Austere budget at $500 Billion.   People thought he was out of his mind.  

mspart

[red viking]

1 hour ago, Lipdrag said:

Wrong.

2002 (first year any Bush proposals could have been enacted as he was inaugurated Jan 2021) fed tax revenue = $1.85 trillion

2008 tax revenue = $2.52 trillion.

36.2% increasae!!  Inflation over the same time was 19.7% so revenue was up 16.5% on a real-dollar basis. 

NO TAX CUT HAPPENED.  You are misinformed.

 

What a liar. Marginal tax rates decreased, particularly for the rich. Bushmaster also spent outrageously on the military. Bottom line was WAY higher deficits 

[mspart]

Even with lower rates, more money came in.   So that part is not a lie.   The fact that spending continued to increase is another topic and piece of the pie. 

Your solution is to get more money.   This will work but only if spending is throttled.   But you only address one side of the issue.   There are the income and the expense.   Both are supposed to equal each other.   By saying we need more money, that means we will spend more.   But we are so far in debt that something needs to stop.   Spending is the easiest thing to stop so we should do that first.   But we won't.   Too many people want too much stuff.   So the spending stays and increases.   So we need more money.   But more money will not help if spending does not stop increasing.  

It takes both to make the recipe work.   But neither D nor R have the will to do either, at least for very long. 

mspart

[jross]

Stop it.  Raising taxes does not fix financial illiteracy.

17% of adults took a financial literacy class in high school.
https://www.ramseysolutions.com/financial-literacy/financial-literacy-crisis-in-america#:~:text=Introduction,finance education in the classroom.

$436 billion was lost across 254 million US Adults in 2022.
https://www.ifac.org/knowledge-gateway/contributing-global-economy/discussion/cost-financial-illiteracy

$1.4 trillion was added to the deficit by the US Gov in 2022.

Edited March 27 by jross
bad at typing

[mspart]

Guzintas need to match guzoutas.   Or be more.   If not the case, it has a finite life. 

mspart

[Lipdrag]

8 hours ago, red viking said:

Marginal tax rates decreased

7 hours ago, mspart said:

more money came in

 

Taxes went up.  More dollars to the treasury.  No tax cut happened.  You can't buy things with rates.  Only dollars buy things.  Dollars up therefore taxes up.  Period.  

 

 

[red viking]

8 hours ago, Lipdrag said:

 

Taxes went up.  More dollars to the treasury.  No tax cut happened.  You can't buy things with rates.  Only dollars buy things.  Dollars up therefore taxes up.  Period.  

 

 

You need to do your research. Bush made huge tax cuts in 2001 and 2003 whole raising spending on out fat bloated military and deficits skyrocketed. Yah tax revenue went up, partly due to inflation and partly due to economic growth, largely fueled by massive deficit spending. Bottom line: huge budget deficits under the Bushmaster, and then he led us into the Great Recession. Period. It's that simple. 

[Bigbrog]

@red viking how do you feel about the amount of money we spend on our military??  Just can't seem to truly pinpoint what your stance on that is.  Oh and the support for Israel we provide and how you feel about the war against Hamas??