Economics Thread

[sturg33]

57 - without deflecting, how do you propose we raise the revenue to pay for these things.

Did you if know if we DOUBLED the 35% and 37% rates - those are people making $204K+ per year to 70%/74%... it wouldn't even cut our CURRENT deficit in half?

How the hell are we going to onboard another $40T in deficits with these fantasies?

I'm serious... think about it and respond with something meaningful. I don't think you understand the scale of the operation you want, and I think you vastly overestimate the money pool of the rich.

[57Brave]

pay for what things ?
nothing is on the table

[thethe]

AHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

[sturg33]

Sigh.

You truly know nothing but refuse to let data change your opinions... the worst kind of foolish

[goldfly]

somehow me saying things are paid by taxing people is wrong in your eyes and somehow i don't understand math cause of that. lol

but so be it.

[sturg33]

somehow me saying things are paid by taxing people is wrong in your eyes and somehow i don't understand math cause of that. lol

but so be it.

awww that's so cute.

a quick recap:

leftists orgasming over 70% tax rate... 57 saing make it 85%!

sturg/thethe say that won't do anything, you can't just tax rich people to get all your social programs

goldfly insists that "actually that is exactly how every other western country does it"

sturg shows him how emphatically wrong that is

goldfly changes the substance of what he said



y'all can admit when you're wrong. it's healthy. there is hard data on this stuff...

[goldfly]

i never said middle class wouldn't have to pay taxes too

but other western countries tax the mega rich at large levels to pay for things. it's how it is done there

what part don't you understand?

[sturg33]

i never said middle class wouldn't have to pay taxes too

but other western countries tax the mega rich at large levels to pay for things. it's how it is done there

what part don't you understand?

holy ****. it's 100% what you said

you quoted the following out of thethe's post:

You can't just tax the rich and expect to pay for these social programs

to which you responded

actually that is exactly how every other western country does it

The data doesn't agree with you. The data shows that the financing comes substantially from the middle class. take the L... do better next time

[goldfly]

yeah, i'm sure the 70% they are taxed in those countries in no way help pay for things in their society

it's only the middle class pool of taxes that pays for it

for **** sake man, taxing them is how it's done. i didn't think it needed to be stated i wasn't thinking that their taxes alone get it done but here we are with you freaking out cause of that

[sturg33]

Lol they're not taxed 70%. I posted the numbers above.

You said point blank that you can JUST tax the rich to get this.

You can't.

Glad you agree. So now that you do, how much do you want to raise taxes on everyone to get this done? As shown above, even doubling the higher rates won't cover the current deficit.

[nsacpi]

numbers from some respected number crunchers on taxing the rich

https://www.washingtonpost.com/busin...=.f331d800f1f1

[thethe]

https://www.bloomberg.com/opinion/ar...-pay-increases

How could this be?

When is the current administration going to receive credit for their economic agenda? There has been talks of a sugar high and that a recession is around the corner for months. Now there has been progress on China trade talks. What do you think the economic reaction to a better deal will be?

[nsacpi]

Observation 1: we experienced long recoveries under JFK/LBJ, Reagan, Clinton and Obama, the latter continuing into the first two Trump years

Observation 2: the economic ideologies and policies pursued by the presidents named in Observation 1 differed quite a bit.

Observation 3: sometimes the economy does well independent of the ideology or policies of who is in the White House

Observation 4: it is easy to gin up growth by blowing a 300 billion dollar hole in federal finances...especially when the economy is already on a strong footing

[thethe]

Observation 1: we experience long recoveries under JFK/LBJ, Reagan, Clinton and Obama, the latter continuing into the first two Trump years

Observation 2: the economic ideologies and policies pursued by the presidents named in Observation 1 differed quite a bit.

Observation 3: sometimes the economy does well independen of the ideology or policies of who is in the White House

Observation 4: it is easy to gin up growth by blowing a 300 billion dollar hole in federal finances...especially when the economy is already on a strong footing

But why are wages all of a sudden going up? Why has small business become increasingly more optimistic? Why are people re-entering the workforce?

Will anyone hold Obama to account for mocking Trump in saying manufacturing won't come back to America?

All of this growth is also in the face of the Fed raising rates making it much more difficult for business expansion. BTW, they should have increased rates for a long time.

[nsacpi]

But why are wages all of a sudden going up?

I'll give an intuitive answer that has not always been supported by the data. Which is that labor's share of the pie is cyclical.

By that I mean the deeper into the cycle you go and the lower the unemployment rate, the better the bargaining position of people who provide labor as opposed to those who own capital.

I suspect the reason it isn't always supported by the data is that there are other factors that drive labor's share of the pie. The long decline in union membership is one. Movements in energy prices might be another.

[57Brave]

found the article thethe posted interesting in that it credited rising minimum wage for "the sudden going up" in wages
read it.

And, this:

There is little or no evidence that the

Tax Cuts and Jobs Act of 2017 had much of an impact on wages —

and certainly workers haven’t seen the absurd $4,000 per employee

windfall President Donald Trump’s economic advisers and political allies

made before the tax cut was passed by Congress.

read it out loud if you have to

[Krgrecw]

found the article thethe posted interesting in that it credited rising minimum wage for "the sudden going up" in wages
read it.

And, this:

There is little or no evidence that the

Tax Cuts and Jobs Act of 2017 had much of an impact on wages —

and certainly workers haven’t seen the absurd $4,000 per employee

windfall President Donald Trump’s economic advisers and political allies

made before the tax cut was passed by Congress.

read it out loud if you have to

Jesus Christ. You need to quit posting.

[57Brave]

Jesus Christ. You need to quit posting.

y'all had a bad day today

[sturg33]

57 are you ready to tell us how to get socialism? What's your tax plan? You haven't answered anything

[57Brave]

57 are you ready to tell us 1) how to get socialism? 2) What's your tax plan? 3) You haven't answered anything

1) day care centers, teenage yoga camps and later streaming coffee house acoustic music - all sung and written by women

2) my tax plan is jack booted thugs coming to the houses of the lurkers and confiscate their monies
after all " don't tax me don't tax ye tax that man behind the tree"

3) you ask "clown questions bro' " without investing an ounce of good faith. It is becoming a bore