Bidenomics, baby!

Discussion in 'Economics' started by Frederick Foresight, Jan 22, 2024.

  1. newwurldmn

    newwurldmn

    The point was whether it was constitutional. It looks like the Supreme Court blocked biden from using the HEROES Act. So he’s trying another way.
     
    #61     Jan 24, 2024
  2. Totally agree that 87,000 IRS agents is insane.

    The median income has increased more than inflation though, hasn't it? And no doubt inflation has come down (aka prices are rising slower now, but not outright coming down of course).
     
    #62     Jan 24, 2024
  3. smallfil

    smallfil

    What are you talking about? The $15 minimum for fast food workers? Ask any average joes if they got any salary increases? Inflation continues to go up. Grocery prices keep rising every single week. I know because I go to the grocery store every week. How much do you earn monthly? $10,000? Maybe, a 6 figure income so, you do not care about high prices for practically anything. Most Americans even those die hard Democrat voters were interviewed on TV and said they would not be voting for Joe Biden again. The complaint is the economy.
     
    #63     Jan 24, 2024
  4. NoahA

    NoahA

    Fair enough, but even if not unconstitutional, it's a net negative for the country.
     
    #64     Jan 24, 2024
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  5. newwurldmn

    newwurldmn

    I have a 250k refund that’s 4 years overdue. The IRS is so understaffed they still haven’t processed my 2019 taxes. I’ve spent like 10k in accounting fees for the accountants to follow up with the IRS.
     
    #65     Jan 24, 2024
  6. NoahA

    NoahA

    Good that you're reading the details, which even I didn't do. But even if there is a legal loophole, it's still a horrible policy in my opinion.
     
    #66     Jan 24, 2024
  7. newwurldmn

    newwurldmn

    I’m torn on this issue. America is the land of opportunity and immigrants tend to be hard working people. You probably have no idea, the risk someone takes to come here. That’s the kind of person that made and makes America great. But there also has to be a rule of law.
     
    #67     Jan 24, 2024
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  8. newwurldmn

    newwurldmn

    it was a five min google search.

    I don’t disagree with you on this one.
     
    #68     Jan 24, 2024
    NoahA likes this.
  9. Inflation certainly is not going up come on. Prices are going up, but at a slower rate. Prices will always go up in absolute terms, but the increase is slower (aka inflation is coming down). The data is 100% clear on this.

    I am just talking about hard data not Joe Shmo down the street not getting a raise (anacdotal evidence). Of course, some people's wage growth will always not keep up with inflations (while some's will crush it). That is natural.

    Here is the data. Wages grew faster than inflation in 2020, it was the opposite in 2021/2022, and now wages are growing faster again.

    https://www.statista.com/statistics... inflation exceeded,wages grew by 5.2 percent.
     
    #69     Jan 24, 2024
    SunTrader likes this.
  10. smallfil

    smallfil

    When prices go up, that is inflation. Any of these bogus inflation means squat when grocery prices are going up every single week. And it is not a small amount either. I am done.
     
    #70     Jan 24, 2024