I know. I know.
You are a victim and the system is rigged... lol... Trump is stealing your money and Bernie Sanders is giving you his...
What a mess.
Midterm Voters: Are You Better Off Than You Were Four Years Ago?
- Thread starter m.knox
- Start date
I know. I know.
You are a victim and the system is rigged... lol... Trump is stealing your money and Bernie Sanders is giving you his...
What a mess.
US job openings climbed to 7.6 million in April despite economic fallout from the Iran war
https://abcnews.com/Business/wireStory/us-job-openings-climbed-76-million-april-despite-133518983
But, but, but THE MAN is keeping you DOWN!!!!
Fair enough. I just find it somewhat hilarious the "boomers had it as hard" statement includes 18% interest rates that made things uncomfortable.
We don't have to wonder how those insane IRs came about, right? Stupid fedgov spending on wars. Energy shocks due to oil.
Sound familiar?
Blaming politicians does nothing. Voting (hopefully) does.
If income taxes go up 40 % across the board that would mean people paying 20% would have to pay 40%. People in the 37% bracket would pay 74%. Corporations paying 21% would be paying 42%. SS taxes would go from 12.2% to 24.4%. Top capital gains rates would go from a high on 23.8% to 47.6%.
The stock market would crash and the affordability problem would be substantially worse. I'll stick with my depression prediction.
My father worked 2 jobs and build out first home by himself on weekends. It was probably under 1,000 sq ft didn't have a garage, had a gravel driveway, no a/c, no microwave, no clothes dryer, no smoke detectors, etc. Saying that he had it easy is an insult.
I purchased my first home for $50k in 1977. That's about $275k in today's dollars. Zillow says that house is now worth $290k which is not a big difference. My mortgage rate was 8.5%. I drove to my first job with 2 brown grocery bags full of clothes. I didn't own a suitcase. I worked during the day and went to school at night. I had it better than my parents buy saying I had it easy is also an insult.
I already told you that I was against the war because I don't think we can afford to keep being the defender of the world.
Were you OK with $188 billion spent on Ukraine? Would you give them more?
not talking about trump approval....unemployment was down, real wages up, inflation down to lowest level in years, gas prices lowest in years....
class divides..not strictly a product of 1 1/2 years of trump
cost of living...we all know, hopefully, that the cost of living acceleration due to inflation from 2021-2022. Trump made a huge mistake in saying he world get grocery prices down on day one. Even if Trump reduced inflation to 2% on day 1, that would have done little if anything to reduce prices from what they were the day before he took office.
Was it the best economy we've ever seen...no...was it a continuation of where Biden left us..yes...
My main issue was you acted like I didn’t know dem spending under Biden was an issue and I clearly laid that out in my post. Thus the reading comprehension point.
I think we spent more than double what we need to and inflation takes longer than you seem to indicate to work its way through the economy. And yes I think Trump does deserve more blame than Biden because he issued more stimulus than Biden.
I think you misunderstood my statement on the 18% mortgage rate. The WSJ study, you might still be able to find it, compared boomers, generation z and millennials and financial while each of those generations were between the ages of 25-34.
One of the comparisons was housing. And it compared the cost for each generation for purchase during those ages (25-34). To do that you obviously need to use constant dollars, mortgage rates, cost of housing and any other variable that might play a role. And what it found was that boomers paid a significantly higher price (with all factors considered) than either gen Z or millenials....They did a subsequent analysis for Gen X after some readers requested it and found that in that comparison the Gen Xer paid the higher cost..
Now I'm sure I lost a little in the translation as it has been a month or so since I read the article. But the point I remember is that you younger guys don't have it as bad - in comparison to boomers - as you might expect.
If you can it might be beneficial to read the article. It might give you you a different perspective or reinforce the one you have. It might even give you an appreciation of what your parents have accomplished to get to the point where they don't worry about money
Absolutely I'm fine with keeping Russia from taking over that entire region. You're telling me that you're not? If the rest of the world did nothing to help Ukraine, Russia would have taken over their entire country then moved onto the next. It would have destabilized that entire region. Please explain to me how Russia destabilizing that entire section of the world is a good idea?
It goes much farther back than that. I was a GWB supporter. I can assure you the left was plenty unhinged back then.
Regardless, the Trump/MAGA Idiot Brigade meltdowns over the 2020 election go well beyond one day.
Be better, knoxy.
Must not be that large of a portion who dislike him…..because he got re-elected!
Most people I know (who have good jobs & retirement savings invested) don’t watch libtard media & are happy with their lives and our current leadership.
You don’t love him; you just go to extraordinary lengths to white knight for him. Duly noted.
I personally don’t hate Trump. Trump is Trump. I do hate the damage he is doing to the country and all the lies and bullsh*t rationalizations otherwise intelligent people have given in defense of him. I do hate that.
Because of Covid.
The same Americans you were just propping up about being hurt by inflation you just gave the middle finger to with this one. Not everyone is cut out to be college educated and working a white-collar job. There are plenty of Americans who work hard at blue-collar jobs who are barely scraping by.
It’s almost as if you are disingenuous with some of your talking points about being concerned about affordability for average Americans…just like Trump. Odd.
FTR, I am college educated, gainfully employed, and invested in a good pension/retirement plan, although I have a 403B instead of a 401k. Best of all, I don’t pay into social security and have a separate retirement account to replace social security payments. And yet, I can still be honest about the economic impact on average people and the truth that Donald Trump has done nothing of substance to help them and frankly doesn’t actually give a sh*t about any of them despite the fact many of those people supported him and voted for him.
I have to agree that the left was nuts back then. One democrat tried to ruin a Christmas party because GWB won and Christmas still happened.
I mean, if we reduced spending from the pace we are currently on, we wouldn't have to go to THAT extreme. Your numbers above would crush the economy.
Your math isn't mathing at all. It's actually not even close. Am I missing something?
The problem with people like you is you only see one side of things which blinds you to how comically hypocritical and unnecessarily stupid you tend to be.
I mean, you can’t even see how oblivious one must be to support Trump yet talk about someone else’s sexual impropriety. The fact you don’t get it is why you aren’t taken seriously by anyone not already in the cult.
What math isn't mathing? The U.S. spends $7 trillion and collects $5 trillion each year. In order to balance the budget with just increased taxes you would have to raise them by 40% (5 x 1.4 = 7).
That $5 trillion in taxes currently comes from income tax, payroll tax, corporate income tax, excise taxes, etc. I assumed every tax would increase by 40% but I guess you could increase some taxes more than others but the total would still be 40% higher. If you wanted to get it all from personal income tax and leave payroll taxes alone you would have to increase income taxes by 74%.
The amount we spend vs the amount we collect ($2 trillion) is huge. I seriously don't know what to say if you think we can raise taxes by $2 trillion per year with minimal economic fallout. Elizabeth Warren's 2% wealth tax would only raise $160 billion. That would still leave a deficit of $1.84 trillion assuming we used all of it to reduce the deficit instead of increasing social welfare like she wants to do.
IMO a $200 billion combination of spending cuts and tax increases is the most you could do without inflicting serious damage to the economy.