It seems as though there is less and less of a labor shortage which everyone was complaining about. Millions of jobs have been created and it appears most of them have been filled since there are so many less job openings. That sounds like a job well done and that the falsehood that "people don't want to work" has now been debunked.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
It seems as though there is less and less of a labor shortage which everyone was complaining about. Millions of jobs have been created and it appears most of them have been filled since there are so many less job openings. That sounds like a job well done and that the falsehood that "people don't want to work" has now been debunked.
You don't understand. It's all the lazy illegal immigrants taking all our jobs
Don't blame the clown for acting like a clown. Ask yourself why you keep going to the circus.
Fed leaves rates unchanged, flags 'lack of further progress' on inflation
WASHINGTON, May 1 (Reuters) - The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming. Indeed, Fed Chair Jerome Powell said that after starting 2024 with three months of faster-than-expected price increases, it "will take longer than previously expected" for policymakers to become comfortable that inflation will resume the decline towards 2% that had cheered them through much of last year.
That steady progress has stalled for now, and while Powell said rate increases remained unlikely, he set the stage for a potentially extended hold of the benchmark policy rate in the 5.25%-5.50% range that has been in place since July. U.S. central bankers still believe the current policy rate is putting enough pressure on economic activity to bring inflation under control, Powell said, and they would be content to wait as long as needed for that to become apparent - even if inflation is simply "moving sideways" in the meantime.
The Fed's preferred inflation measure - the personal consumption expenditures price index - increased at a 2.7% annual rate in March, an acceleration from the prior month. "Inflation is still too high," Powell said in a press conference after the end of the Federal Open Market Committee's two-day policy meeting. "Further progress in bringing it down is not assured and the path forward is uncertain."
Powell said his forecast remained for inflation to fall over the course of the year, but that "my confidence in that is lower than it was." Whether there are rate cuts this year or not remains in doubt. "If we did have a path where inflation proves more persistent than expected, and where the labor market remains strong but inflation is moving sideways and we're not gaining greater confidence, well, that would be a case in which it could be appropriate to hold off on rate cuts," Powell said. "There are paths to not cutting and there are paths to cutting. It's really going to depend on the data."
Despite the uncertainty of the current economic moment, Powell's characterization of rate hikes as "unlikely" cheered investors concerned about a newly hawkish Fed chief. U.S. stock and bond prices turned higher as Powell preached patience that may delay rate cuts, but also means a high bar for any more hikes. The Fed raised its benchmark policy rate by 5.25 percentage points in 2022 and 2023 to curb a surge in inflation. Powell's remarks on Wednesday were "notably less hawkish than many feared," said analysts at Evercore ISI. "The basic message was that cuts have been delayed, not derailed." Investors in contracts tied to the Fed's policy rate increased bets that rate cuts could begin in September rather than later in the year as reflected in earlier market pricing. BALANCE SHEET The Fed's latest policy statement kept key elements of its economic assessment and policy guidance intact, noting that "inflation has eased" over the past year, and framing its discussion of interest rates around the conditions under which borrowing costs can be lowered. "The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably towards 2%," the Fed repeated in its unanimously-approved statement. That continues to leave the timing of any rate cut in doubt, and Fed officials made emphatic their concern that the first months of 2024 have done little to help the cause. "In recent months, there has been a lack of further progress towards the Committee's 2% inflation objective," the Fed said in its statement.
The U.S. central bank also announced it will scale back the pace at which it is shrinking its balance sheet starting on June 1, allowing only $25 billion in Treasury bonds to run off each month versus the current $60 billion. Mortgage-backed securities will continue to run off by up to $35 billion monthly. The step is meant to ensure the financial system does not run short of reserves, as happened in 2019 during the Fed's last round of "quantitative tightening." While the move could loosen financial conditions at the margin at a time when the U.S. central bank is trying to keep pressure on the economy, policymakers insist their balance sheet and interest rate tools serve different ends. The Fed maintained its overall assessment of economic growth, saying that the economy "continued to expand at a solid pace. Job gains have remained strong and the unemployment rate has remained low." Powell reconciled that with the relatively weak, 1.6% growth of gross domestic product in the first quarter by saying that the 3.1% increase in private domestic demand was a better gauge of where the economy stands, with output buttressed by a recent jump in immigration. Asked about the risk the U.S. was entering a period of "stagflation" with stagnant growth and rising prices, Powell said current conditions are nothing like those seen in the late 1970s when prices were rising more than 10% annually at one point alongside high unemployment. "Right now we have ... pretty solid growth ... We have inflation running under 3%," Powell said. "I don't see the 'stag' and I don't see the 'flation.'"
Blocking those who argue to argue, eliminates the argument.
If you’re carrying a lot of high-interest debt, the fact that the Federal Reserve once again did not cut interest rates at its Wednesday meeting may be disappointing, if not surprising.
But if you have any savings, the Fed’s unwillingness to lower rates until it sees more consistent progress in inflation data has – and will continue to – put money in your pocket this year if you seek out federally insured accounts with the highest rates.
In 2023, savers made $315.4 billion in interest in deposit accounts, four times the $78.7 billion they earned in 2022, according to Lending Tree’s DepositAccounts.com, which used data from the Federal Deposit Insurance Corporation in its calculations.
That’s because, after so many years of paltry interest rates, the Fed’s rate-hike campaign that began in 2022 made it possible for savers to earn inflation-beating yields on their US domestic deposits, including bank and credit union savings accounts, certificates of deposit and money market accounts.
At the same time, yields on Treasury bills have also been very competitive with the higher rates banks are offering and are equally low risk.
A life is not important except in the impact it has on other lives. – Jackie Robinson
So how much would that tax rate be for "average people"? It's certainly not the figure you were suggesting................
Biden Calls for Doubling Capital Gains Tax
President Biden wants to increase the capital gains tax rate and have the wealthy pay a “fairer” share.
President Biden’s $7.3 trillion FY 2025 budget released last month, proposes several tax changes aimed at wealthier taxpayers, including a minimum tax on billionaires, a near doubling of the capital gains tax rate, and an increased Medicare tax rate.
This budget proposal comes as the IRS says it has recently collected (through ramped-up enforcement) more than $500 million in unpaid taxes from delinquent millionaires and "wealthy tax cheats."
The White House says the President's budget, which also contains several tax breaks for those with lower and middle incomes, including new homebuyer tax credits, would reduce deficits by nearly $3 trillion over ten years.
Biden capital gains tax increase
The capital gains tax rate for long-term capital gains, assets held for more than one year, is at most 20%. Capital gains are the profits you make from selling or trading an asset. The tax rates that apply to a particular capital gain (i.e., capital gains tax rates) depend on the type of asset involved, your taxable income, and how long you held the property before it was sold.
Biden’s FY25 budget proposal would nearly double that capital gains tax rate to 39.6%. That proposed capital gains rate increase would apply to investors who make at least one million dollars a year. 44.6% capital gains proposal?
You may have heard about a proposed 44.6% capital gains rate in a budget footnote. That rate is a separate proposal that if ever approved, would apply only to those with high net investment and taxable income.
The rate supposes an increase of the net investment income tax rate to 5% above the $400,000 threshold with an increased top ordinary rate of 39.6%. 'Carried interest loophole'
The Biden budget proposal also revives the debate over the so-called carried interest loophole. Currently, asset managers can treat certain compensation they receive as capital gains, which means that a significant portion of their income is taxed at a much lower rate than if it were treated as wages.
Under Biden’s budget proposal, that compensation would be treated as ordinary income for federal income tax purposes to end the carried interest loophole. Medicare tax
President Biden is proposing a tax increase for people making more than $400,000 a year to help shore up the Medicare program. That income threshold would be based on wages, salary, and capital gains.
Biden's FY25 budget proposes to increase the Medicare tax rate to 5% from the current 3.8%.
According to federal data, more than 60 million people use Medicare, which provides health insurance for people over age 65. The number of people using Medicare is expected to grow, which has caused concern over the long-term viability of Medicare and other programs like Social Security.
The White House says that this tax increase would extend the life of the Medicare Trust Fund by at least 25 years, without cutting benefits. However, like the capital gains tax proposal, the Medicare tax rate increase is not likely to find enough support to pass this year, given Congressional divides and the upcoming election. Income tax rate
President Biden wants to increase the top income tax rate for wealthier taxpayers.
Under Biden’s budget proposal, taxpayers making $400,000 would be taxed at a top rate of 39.6%. The current top tax rate, tied to inflation-adjusted tax brackets, is 37%. The proposed tax rate change would reverse the so-called Trump tax cuts in the Tax Cuts and Jobs Act.
Note: The Biden budget is merely a proposal that given the state of play on the Hill is not likely to gain Congressional support to pass this year. So, the seven tax rates you are familiar with i.e., 10%, 12%, 22%, 24%, 32%, 35%, and 37%, apply. (The income tax brackets associated with those rates are adjusted yearly for inflation.) Biden budget tax increase for billionaires
President Biden also wants to impose a minimum tax on billionaires. Some of the rationale behind this “wealth tax” is that wealthier taxpayers are often able to shield a good portion of their income from tax. That’s partly because the wealthy usually grow their wealth through investments, which are taxed at lower rates than earned income. Earned income (which includes wages and salaries) is typically the main source of money for taxpayers with lower and middle incomes.
The billionaire tax in Biden’s budget proposal would be a minimum of 25% for households with net worth exceeding $100 million. For comparison, according to the White House, the wealthiest taxpayers in the United States reportedly pay an average 8.2% tax rate.
Capital gains taxes on real estate: 1031 like-kind exchanges
Biden's FY25 budget would also close what the administration calls the “like-kind exchange” loophole. Under current 1031 like-kind exchange rules, real estate investors can defer paying tax on gains from certain real estate deals as they keep investing (reinvesting the proceeds) in that real estate.
The White House says "this amounts to an indefinite interest-free loan from the government," and that "real estate is the only asset that gets this sweetheart deal."
Biden announces $3.3 billion AI investment by Microsoft at scaled-back Foxconn site Trump once touted
Biden announces $3.3 billion AI investment by Microsoft at scaled-back Foxconn site Trump once touted A planned $10 billion facility for electronics manufacturer Foxconn in Wisconsin never fully materialized.
May 8, 2024, 9:51 AM EDT / Updated May 8, 2024, 2:05 PM EDT By Summer Concepcion President Joe Biden traveled Wednesday to Wisconsin to announce a $3.3 billion investment by Microsoft to build an artificial intelligence data center.
The data center will be built on the property of a planned $10 billion Foxconn facility that Donald Trump touted during his presidency as a major revival of tech manufacturing in the U.S.
But those plans never fully materialized. Foxconn, based in Taiwan, later drastically scaled back plans for the factory, which Trump once called “the eighth wonder of the world,” reducing the number of new jobs from 13,000 to the roughly 1,000 spots that are filled now, the Milwaukee Journal Sentinel reported.
In remarks Wednesday at Gateway Technical College in Sturtevant, in Racine County, Biden took aim at Trump multiple times for his "failed promises" about Foxconn, although he didn't mention his predecessor by name.
Biden said the failed Foxconn project during Trump's presidency left Wisconsin residents and workers behind, adding that it led to the bulldozing of 100 homes and farms and wasted hundreds of millions of taxpayer dollars.
“They dug a hole with those golden shovels, and then they fell into it," Biden said.
"Foxconn turned out to be just that — a con. Go figure," he added.
Biden touted his administration’s "investing in America" agenda, which includes commitments to rebuild roads and bridges, developments in clean energy and creating $866 billion in private-sector investment nationwide as part of efforts to revitalize American manufacturing.
Biden hailed Microsoft’s investment in the AI data center as a “transformative” investment in infrastructure, especially for the people of Racine, who he said will have the opportunity to get training for new high-paying jobs that don’t require four-year college degrees.
“During the previous administration, my predecessor made promises which he broke more than kept, left a lot of people behind in communities like Racine,” he said. “On my watch, we make promises and we keep promises, and we leave no one behind.”
Microsoft’s investment in the AI data center is expected to employ 2,300 union construction workers and create 2,000 permanent jobs over time, the White House said, adding that nearly 4,000 jobs have been added in Racine, a third of them in manufacturing, and 177,000 in Wisconsin since Biden took office.
Microsoft also plans to partner with Gateway Technical College in Wisconsin to develop a training facility to prepare 1,000 residents for data center jobs and roles in science, technology, engineering and math by 2030, with the aim of employing up to 2,000 people in permanent roles at its Racine facility, the White House said. It will also invest in training 1,000 business leaders to adopt AI in their operations.
The Trump campaign didn’t immediately respond to a request for comment.
Trump has repeatedly claimed that the economy during Biden’s presidency has been worse compared with his time in office, often pointing to rising inflation and interest rates in recent months.
Biden and administration officials have recently traveled to key battleground states to highlight his economic record, such as legislation investing in infrastructure and clean energy, which Biden has said leads to the creation of more well-paid jobs based in the U.S.
Trump’s economy was a disaster. The effects are still costing US. The only thing he got done was operation warp speed.
Not really. Inflation was 1.4% and the DOW was soaring. Biden trashed America in a multitude of ways and people will be voting with their wallets in Nov.
Trump’s economy was a disaster. The effects are still costing US. The only thing he got done was operation warp speed.
Not really. Inflation was 1.4% and the DOW was soaring. Biden trashed America in a multitude of ways and people will be voting with their wallets in Nov.
Murica be voting with their wallets lol. By voting for a tax cheat.
A life is not important except in the impact it has on other lives. – Jackie Robinson
Trump’s economy was a disaster. The effects are still costing US. The only thing he got done was operation warp speed.
Not really. Inflation was 1.4% and the DOW was soaring. Biden trashed America in a multitude of ways and people will be voting with their wallets in Nov.
Inflation wha wha! Trump caused this inflation and it would have been much worse if not for Biden’s administration. But the truth twisting Trumpian propaganda machine won’t let that get any oxygen because defeat rests in the truth… Biden is the Truth.
Your feelings and opinions do not add up to facts.
Trump’s economy was a disaster. The effects are still costing US. The only thing he got done was operation warp speed.
Not really. Inflation was 1.4% and the DOW was soaring. Biden trashed America in a multitude of ways and people will be voting with their wallets in Nov.
Inflation wha wha! Trump caused this inflation and it would have been much worse if not for Biden’s administration. But the truth twisting Trumpian propaganda machine won’t let that get any oxygen because defeat rests in the truth… Biden is the Truth.
And I have read at least 4 different stories in the past week where companies are starting to lower prices. Walmart, Aldi are lowering prices on hundreds of items...McDonalds are putting together a burger and fries combo and dropping prices back to 5 bucks. Car companies are now coming back with zero down and not adding cost to the sticker.
Why, it isn't trump or Biden..It is market forces, they raised prices too high for too long and people aren't scooping up cars, inventory is up at Wally world. Mcdonalds said that they are losing their low income customer base because they can't come in for a mcdouble, fries and drink for 13 bucks so they are reducing prices. Its market forces that will drop prices back down. We don't consume, they will drop prices.
Trump’s economy was a disaster. The effects are still costing US. The only thing he got done was operation warp speed.
Not really. Inflation was 1.4% and the DOW was soaring. Biden trashed America in a multitude of ways and people will be voting with their wallets in Nov.
Inflation wha wha! Trump caused this inflation and it would have been much worse if not for Biden’s administration. But the truth twisting Trumpian propaganda machine won’t let that get any oxygen because defeat rests in the truth… Biden is the Truth.
Has trump ever gone to a rally and told any plan for reducing inflation, taking care of child care for single moms, tackling student loan debt, health care.
No, he tells a bunch of bs lies that he knows more than anyone else and he will fix everything. although he already had a chance and didn't fix nothing.
I guess he doesn't know more about real estate valuation and taxation than anyone else, cause the IRS is coming.
And now he is going to the oil and gas companies for 1 billion to help with his re-election and lawyer bills, and if he gets in, they will make it back in spades. First of all, what does that mean for us, cause we are the ones that will be paying that back, not his ass. And, there is no way that any politician should be going to any sector asking for his kind of money. It should be illegal.
I am lucky I have enough to take the up's and downs. I might make it back next month.
I wonder about the person who isn't as fortunate. Not long ago you could go to McDonalds and get a decent meal for $5 or so. Now it is double that....or nearly. I go to the grocery store several times a week. You do that when retired. I now walk out with 2-3 bags of things and it run over $60 for 2 meals.
I wonder how that minimum wage push has actually helped people? I do know the answer, it never helps them after 5-6 months..
If everybody had like minds, we would never learn.
So does that mean you're trying to blame inflation on the fact wages have risen? You haven't been able to buy an adult sized "meal" for $5 at McDonald's in a very long time. I'm not trying to say their prices haven't gone up because they have. But to try and cliam that $5 meal statement isn't an exaggeration would be dishonest. Maybe your idea of "not long ago" is different than mine.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
I think where I'm still confused is the data point that was previously discussed where consumer spending went down, but inflation still went up. I'm no economist, but that kind of shows a decoupling of supply and demand. I don't know what other cause there could be, aside from gouging.
Perhaps it's a gap in time between the time period where consumers say "I'm not going to spend anymore" and corporations suddenly realizing that demand is down, causing them to recalibrate pricing, like what Lima said. That should ultimately result is at least noted disinflation, though. If consumer spending drops again, but inflation still continues to rise from here on out, then there could be real issues afoot.
Blue ostriches on crack float on milkshakes between the sidewalk titans of gurglefitz. --YTown
I think most that watch know there's already issues afoot in terms of price gouging. But I would certainly agree we don't know the full extent of it or how deeply the issue runs.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
I think where I'm still confused is the data point that was previously discussed where consumer spending went down, but inflation still went up. I'm no economist, but that kind of shows a decoupling of supply and demand. I don't know what other cause there could be, aside from gouging.
Perhaps it's a gap in time between the time period where consumers say "I'm not going to spend anymore" and corporations suddenly realizing that demand is down, causing them to recalibrate pricing, like what Lima said. That should ultimately result is at least noted disinflation, though. If consumer spending drops again, but inflation still continues to rise from here on out, then there could be real issues afoot.
Proves the corporate greed and price gouging I complained about all along. Biden didn’t and isn’t causing this, corporate boardrooms did.
Last edited by OldColdDawg; 05/13/2402:22 PM.
Your feelings and opinions do not add up to facts.
As the fellow said when coach Norman dale told him he was done coaching, “mister, there are two kinds of dumb”. And one of them is saying the Trump economy was a “disaster “ without any elaboration. The Trump economy was roaring, the bottom 25% of wage earners received their first increase in real wages in two decades, about 30% I believe. Unemployment in most minority groups was down. Profits were up. Everything was going just fine. Then the Chicomms dumped the virus on the world, and everything went to hell.
I do not remember the interviewer but when the guest said how horrible the economy was they inherited from Trump, she actually pushed back with , well we were in the middle of a pandemic. Perfectly true.
All you have to do is ask people, are you economically better today than you were four years ago. They will tell you, but you lefties just won’t listen.
I'm better now than I was 4 years ago. I was also better 4 years ago than I was 8 years ago, and so on and so forth, spanning multiple presidencies.
I don't necessarily think that correlation is always akin to causation, though, and I think that seems to be the major pitfall of people - both right and left.
For example, let me ask you, who do you think was responsible for the 2008 financial crisis?
Blue ostriches on crack float on milkshakes between the sidewalk titans of gurglefitz. --YTown
So the inflation we have endured the past 3.5 years is the result of corporate greed and price gouging eh. Right!! You lefties can come up with such simplistic drivel. But to buy what you are selling one must believe that in 2021 there was a takeover in the corporate boardrooms all across America. Leadership was assumed by executives intent on gouging and greedying there way to success. Because in the decade from 2010 to 2020 the average inflation rate, aka corporate gouge rate, aka corporate greed index, was 1.75%. Hmm. 1.75%. Whodathunk those greedy corporatists would have kept inflation, aka gouge rate so low.
So either the corporate leadership changed dramatically or it really is the Biden inflation. Newsflash I would bet corporate leadership did not change much at all.
Dawglover, glad you are doing better. I am a retiree and I can tell you my income has not come close to keeping up with the 2021-2023 inflation. Most things we buy in the grocery are up 25-30%, gas is up 75% and so in. I do not think most folks have seen pay increases the past 3.5 years to equal inflation. Most polls show people feel worse off than in 2020 , minus the virus of course.
That question is not a simple one and I have to admit I have no desire to go back and review the origins of that situation. What little I remember it seems to have its roots ina law passed, maybe called the community redevelopment act, but I am not certain of that. It encouraged/put pressure on/required banks to begin giving loans they previously would not have given. It seems like they lowered the financial situation of an applicant for a home loan to minimum. For example my first house I had to put down a 20% down payment. In order to get loans to people they eliminated or dramatically reduced that requirement.
I guess a simple answer is they began giving loans to people who really could not afford them, with little skin in the game required of them. When housing prices dipped these people became “upside dow” and many just walked away sticking the banks with those properties. Banks then bundled those high risk loans and sold them off. Everything just went in the crapper from there.
I am not really doing justice to that explanation but that is about all I have for now.
Thanks Keith. Appreciate the good will. Hope things get better for you as well.
I don't mean for you to have to explore the issue of the 2008 crisis as a whole, but what I was getting at on that front is that there are ripple effects that begin with one administration or Congress that have wave effects over the course of time, that are not fully felt until everything comes to a head. As an example, I would agree that the law you referenced was a catalyst for the financial crisis. That was during the Clinton administration, eight years before the actual crisis hit. Bush was in place at the time, but I do not put the blame squarely on his shoulders, if you get my drift. The bottom line is that there needs to be causation, not correlation.
Now, if you look at the current scenario, others have argued - with merit IMO - that the insanely low interest rates that existed during the 2010's combined with the bottoming of those rates during COVID set the groundwork for the inflationary practices. I also think that the over-issuance of stimulus money found during both the Trump and the Biden administration at its onset contributed to an uncanny hike in demand. Add in the supply chain/inventory issues that came along with COVID, and you have yourself in a stagflationary environment. It was really the perfect storm, initially.
Butting into the conversation you are having with OCD, though, I think that corporations were big fans of that low interest rate. It was almost like free money to them given the returns they were seeing by taking out loans with that interest rate. I think that was another cause for overheating. I also think its readily apparent that gouging did take place on the corporate front. I know I saw it first hand with the defense industry, which I griped about earlier in this thread. COVID was an opportune time for mega corps to shout "SUPPLY CHAIN! COVID! INFLATION! PANDEMIC!" as the rationale behind their price hikes. What we found out on the defense front is that the companies weren't nearly feeling the pain they were asserting, given all the relief avenues they had experienced from the Government. Basically, corporations get welfare, too. Now that the pandemic has passed, you still see hyper-inflation and supply chain issues commonly referred to in companies SEC filings while they are also still making record profits, which doesn't totally add up.
That turns back to the finding that I discussed earlier. Which is...what other explanation besides gouging could there be for inflation continuing to rise when consumer spending has cooled? Prices still go up even though demand drops? In fairness, it could be a lag in response that I mentioned earlier, but we have seen gouging happen already, like what Pit mentioned. If that data continues to progress where consumer demand levels off or decreases, but prices increase, that's a pretty tell-tale sign. I do worry in our current era of constant mergers and acquisitions that the lax anti-trust enforcement we've had is coming to a head, both on price gouging and quality (See Boeing, et al).
Last edited by dawglover05; 05/13/2408:48 PM.
Blue ostriches on crack float on milkshakes between the sidewalk titans of gurglefitz. --YTown
So does that mean you're trying to blame inflation on the fact wages have risen? You haven't been able to buy an adult sized "meal" for $5 at McDonald's in a very long time. I'm not trying to say their prices haven't gone up because they have. But to try and cliam that $5 meal statement isn't an exaggeration would be dishonest. Maybe your idea of "not long ago" is different than mine.
Put it at whatever amount you like. It is much higher. I did note you didn't disagree with my point other than disagree with the dollar amount I used as an example. Typical.
I think you liberals are either in denial or stupid.
I will amend an earlier comment to include naive.
Last edited by Ballpeen; 05/13/2410:26 PM.
If everybody had like minds, we would never learn.
So does that mean you're trying to blame inflation on the fact wages have risen? You haven't been able to buy an adult sized "meal" for $5 at McDonald's in a very long time. I'm not trying to say their prices haven't gone up because they have. But to try and cliam that $5 meal statement isn't an exaggeration would be dishonest. Maybe your idea of "not long ago" is different than mine.
Put it at whatever amount you like. It is much higher. I did note you didn't disagree with my point other than disagree with the dollar amount I used as an example. Typical.
I think you liberals are either in denial or stupid.
I will amend an earlier comment to include naive.
Didn't disagree with you? You put out a post that didn't say anything so I was looking for you to clarify what you were saying. Dear Lord.
So the little man making a decent wage is keeping you down.
Let me explain what fits all of those words. Trying to claim that what happens now in the economy is because of who is president now. 05 tried to explain that to those either in denial, stupid or naive. Economic results happen over time. Policies take time to impact the economy. The results we see today are not caused strictly on the polices of the past few years. Somehow I thought you were a fairly smart man. So let me ask you, how long did it take policy on home loans to burst the housing bubble? Were those policies enacted by Bush? Did you blame Bush for the housing market bubble bursting?
But then I forget you're one of those people that think if you like the pockets of billionaires with huge tax cuts somehow they will hire more people and it will create jobs. When the fact is the only time they create jobs is when demand dictates they need to. Which actually means the best way to create jobs is to put that money in the hands of people who need to buy things. The everyday taxpayer who makes up the bulk of consumers.
So that does help me understand why you want to blame Biden for policies that came along well before he was president.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
You mean getting back some of the tax cuts Republicans have given billionaire corporations over and over and over again? So you're all for the great billionaire tax give away and think expecting them to pay their fair share is wrong. Heaven help us if they pay the same tax percentage as their workers.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
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