Economy is roaring

[Anonymous]

Why wouldn't our GDP be a better indicator?

[Anonymous]

Anonymous wrote:
The best evidence we have that the economy is doing well is that the Democratic candidates hardly ever talk about what can be done to improve economic performance.

Yes, they talk about income inequality and they have a valid point but where they go off the rails is when their remedy for income inequality is to tax higher income earners to the hilt, levy a wealth tax and regulate businesses.

There is no question that the economy is doing well even if it is uneven.

[Report Post]

Yes, this is what they are talking about . . . the uneven part. The average life span is going down (over the last 3 years and this is a fact). Higher education remains at too high of a cost.

I do not think that higher income earners are going to be "taxed to the hilt" (whatever that means), etc. However, let's face it, a situation where there is this much inequity is not healthy. Making the masses unhappy and hungry and sick is not a good idea. Sooner or later something has to give. It would be better to resolve this in a gradual way than to make it worse (as Trump has done). Do you agree? How would you solve the rising inequity and loss of opportunity situation? Charity?


Rising income inequality and the growing wealth gap are real issues. Not so much for the economy writ large but socially and politically. Personally, I am not sure how to address it, but would be interested in the discussion.

What I think doesn't work is disseminating demonstrably false information on the economy like one poster or more has done on this thread. For example, claiming that low employment is a result of more people working more jobs, that consumer debt is rising, that the national debt has tripled under Trump, etc. Whoever you are, you are undermining whatever case you are trying to make when you do this.

It also doesn't help to insert irrelevant facts into the conversation. For example, life span has gone down, but that's not the economy or income inequality, it's opiate overdoses. Higher education can be very expensive, but it can also be very manageable if one goes the route of community college followed by two years at a state college. Choosing to do another route that requires a lot of debt is on the individual.

It is unclear to me, as it is to the poster you are responding to that you can get both a growing economy and reduced income equality by promising a lot of free programs funded by very high taxes on the very rich. Inevitably, the funding will require going into the pockets of the group that has, collectively, the most money, the middle class, exacerbating the inequality because the very rich will pay handsomely to find ways to shelter their wealth.

so you admit you have no ideas on how to address this . . .

[Anonymous]

Yes--not sure how to address but there really aren't a lot of good ideas out there.

The only idea out there that seems to have some promise is UBI. We also could sharpen the tax rate at the high end without attaching it to enormous spending programs like national health care, college debt forgiveness, and free daycare that require higher taxes as well on the middle class.

[Anonymous]

Yes--not sure how to address but there really aren't a lot of good ideas out there.

The only idea out there that seems to have some promise is UBI. We also could sharpen the tax rate at the high end without attaching it to enormous spending programs like national health care, college debt forgiveness, and free daycare that require higher taxes as well on the middle class.

sounds like a start

college debt forgiveness doesn't have to an all or nothing and same with daycare (could be subsidized, but not free) . . . there are iterations of all the ideas that could work going forward.

[Anonymous]

Anonymous wrote:Yes--not sure how to address but there really aren't a lot of good ideas out there.

The only idea out there that seems to have some promise is UBI. We also could sharpen the tax rate at the high end without attaching it to enormous spending programs like national health care, college debt forgiveness, and free daycare that require higher taxes as well on the middle class.

This needs to happen.

UBI isn't going to help. Giving people free money simply for existing is not the answer.

[Anonymous]

Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

[Anonymous]

Anonymous wrote:Yes--not sure how to address but there really aren't a lot of good ideas out there.

The only idea out there that seems to have some promise is UBI. We also could sharpen the tax rate at the high end without attaching it to enormous spending programs like national health care, college debt forgiveness, and free daycare that require higher taxes as well on the middle class.

I'd like to see the rates go up by 2 percentage points on individual earners over $200,000 and joint over $400,000 - and use that excess to pay down the debt.

[Anonymous]

Anonymous wrote:Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

So....a link to the Leftist NYT. Good one.

In the meantime, HALF of all Americans have seen their net worth swell (mine is up 10% in the last six months alone), and the poorer half (who don't pay taxes and for the most part don't own stock) are enjoying record low unemployment rates and rising wages for low-income jobs.

EVERYONE has gained under Trump. That's why Democrats are blowing a gasket.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

So....a link to the Leftist NYT. Good one.

In the meantime, HALF of all Americans have seen their net worth swell (mine is up 10% in the last six months alone), and the poorer half (who don't pay taxes and for the most part don't own stock) are enjoying record low unemployment rates and rising wages for low-income jobs.

EVERYONE has gained under Trump. That's why Democrats are blowing a gasket.

So what in the article isn't true? Corporations aren't paying less? 91 out of the Fortune 500 pay no income taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

So....a link to the Leftist NYT. Good one.

In the meantime, HALF of all Americans have seen their net worth swell (mine is up 10% in the last six months alone), and the poorer half (who don't pay taxes and for the most part don't own stock) are enjoying record low unemployment rates and rising wages for low-income jobs.

EVERYONE has gained under Trump. That's why Democrats are blowing a gasket.

Can you freakin read earlier posts? This is deficit spending! Blow through some credit cards and you will also look rich.

[Anonymous]

Uh oh, sorry Democrats:

The U.S. economic expansion will last ‘many more years’ and 2020 will be good for stocks, says prominent economist



https://www.marketwatch.com/story/the-us-economic-expansion-will-last-many-more-years-and-2020-will-be-good-for-stocks-says-prominent-economist-2019-12-30?mod=home-page


Fantastic news as expected. Unfortunately for the democrats who want to destroy the economy, this spells bad news for their chances.

[Anonymous]

Uh oh, sorry Democrats:

The U.S. economic expansion will last ‘many more years’ and 2020 will be good for stocks, says prominent economist



https://www.marketwatch.com/story/the-us-economic-...omist-2019-12-30?mod=home-page


Fantastic news as expected. Unfortunately for the democrats who want to destroy the economy, this spells bad news for their chances.

the chief economist at Deutsche Bank??? Oooookay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

So....a link to the Leftist NYT. Good one.

In the meantime, HALF of all Americans have seen their net worth swell (mine is up 10% in the last six months alone), and the poorer half (who don't pay taxes and for the most part don't own stock) are enjoying record low unemployment rates and rising wages for low-income jobs.

EVERYONE has gained under Trump. That's why Democrats are blowing a gasket.

Can you freakin read earlier posts? This is deficit spending! Blow through some credit cards and you will also look rich.

Obama ran up the national debt in his first three years way more than Trump has done.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Economy is booming for these people. Go Corporations Go!!!!!!! Keep on paying off our politicians through lobbyists.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

So....a link to the Leftist NYT. Good one.

In the meantime, HALF of all Americans have seen their net worth swell (mine is up 10% in the last six months alone), and the poorer half (who don't pay taxes and for the most part don't own stock) are enjoying record low unemployment rates and rising wages for low-income jobs.

EVERYONE has gained under Trump. That's why Democrats are blowing a gasket.

Can you freakin read earlier posts? This is deficit spending! Blow through some credit cards and you will also look rich.

Obama ran up the national debt in his first three years way more than Trump has done.

A lot of that was from the Bush tax cuts along with inheriting two wars. Oh, and we had the greatest economic crisis since the Great Depresssion. Just small things, right?

[Anonymous]

Anonymous wrote:

Uh oh, sorry Democrats:

The U.S. economic expansion will last ‘many more years’ and 2020 will be good for stocks, says prominent economist



https://www.marketwatch.com/story/the-us-economic-...omist-2019-12-30?mod=home-page


Fantastic news as expected. Unfortunately for the democrats who want to destroy the economy, this spells bad news for their chances.

the chief economist at Deutsche Bank??? Oooookay.

Economists at these firms are behind the wall. Mr. Slok previously worked at the OECD and the IMF. Economists like him typically try to avoid capture by their employer to maintain their credibility and to preserve their put to academia. None of this of course makes him right.

Funny they wrote capex, which I am sure is what Mr. Slok said, without an aside to the spell out capital expenditure.