That 'booming' economy?

YDB95 said:

Since we've been cutting taxes more often than not for nearly 40 years, the answer to your question is probably "quite a lot". Besides, no one ever worries about the effect on the debt from military bloat and corporate welfare, not to mention tax cuts for the richest of the rich (who simply squirrel all that money away).

Click to expand...

National defense and the protection of our citizens is the number one priority and constitutional responsibility of the president, not free college education, free stuff for illegals or free healthcare for all. We need to cut spending and cut taxes. Nothing wrong with keeping more of your own money. The more they tax the more they spend. I could almost agree that if they raise taxes and cut spending, but they never do.

cuck72 said:

President Trump has none more for the economy then any other President,.

Click to expand...

For once, you're exactly right.

icanhelp1 said:

National defense and the protection of our citizens is the number one priority and constitutional responsibility of the president, not free college education, free stuff for illegals or free healthcare for all.

Click to expand...

Then it's a good thing no one is suggesting any of that for free. ("Tax-paid" is not "free".) And I don't see how bailing out a bankrupt corporation provides for national defence OR protection of our citizens. Protection of the ultra-rich, yes, but that's not the same thing.

icanhelp1 said:

We need to cut spending and cut taxes. Nothing wrong with keeping more of your own money.

Click to expand...

Certainly not if you earned it fair and square yourself. That's why progressives want to shift the tax burden back off the working class and middle class.

icanhelp1 said:

The more they tax the more they spend. I could almost agree that if they raise taxes and cut spending, but they never do.

Click to expand...

There is only so much left to cut, except in defence. Besides, better-funded education, infrastructure, etc benefit all Americans.

YDB95 said:

For once, you're exactly right.




Then it's a good thing no one is suggesting any of that for free. ("Tax-paid" is not "free".) And I don't see how bailing out a bankrupt corporation provides for national defence OR protection of our citizens. Protection of the ultra-rich, yes, but that's not the same thing.

Bringing corporate tax rate in line with foreign tax rate is good business sense, keeps companies at home and creates jobs. Also incentivises manufacturing back to the states.

Certainly not if you earned it fair and square yourself. That's why progressives want to shift the tax burden back off the working class and middle class.

Progressives want to TAX, TAX, TAX,.. SPEND, SPEND SPEND!! Progressives don't give two shits about the middle class, they're equal opportunity taxers and spenders.

There is only so much left to cut, except in defence. Besides, better-funded education, infrastructure, etc benefit all Americans.

Click to expand...

There are so many redundant programs, lost count, when congress proves it can cut programs and eliminate deficit spending then you can raise my taxes.

A recent AIA survey found that about 15% of architecture firms in the U.S. have seen projects canceled, 40% have seen projects significantly delayed or put on hold and 30% have seen projects scaled back.


https://www.constructiondive.com/new...ish-ow/568295/

In Davos last Tuesday, Trump said he has presided over a “blue-collar boom,” citing a historically low unemployment rate and surging wage growth among workers at the bottom of the pay scale.

“The American Dream is back — bigger, better, and stronger than ever before,” Trump said. “No one is benefitting more than America’s middle class.”

Joseph Stiglitz, an economist and professor at Columbia University who won the Nobel Prize in 2001, refuted the claim, saying the failure of Trump’s economic policies is evident in the decline in average life expectancy among Americans over each of the past three years.

“A lot of it is what they call deaths of despair,” he says. “Suicide, drug overdose, alcoholism — it’s not a pretty picture.”

“The remarkable thing is how weak wages are, how weak the economy is, given that as a result of the tax bill we have a $1 trillion deficit.”

https://www.yahoo.com/news/donald-trump-wrong-economy-nobel-prize-joseph-stiglitz-202041681.html

U.S. farm bankruptcies rise 20 percent in 2019 despite federal aid
Jan. 30 (UPI) -- U.S. farm bankruptcies rose nearly 20 percent last year from the previous year amid the trade war with China, trailing only 2010, the year following the Great Recession when Chapter 12 bankruptcies rose 33 percent.

Jan. 31 (UPI) -- Chevron on Friday reported its worst quarterly loss in a decade -- $6.6 billion for the last three months of 2019, due mainly to a write-off of its Appalachian shale production sites.

The energy giant reported a net income of $3.73 billion in Q4, but listed a $10.4 billion non-recurring expense related to shale project and deep-water Gulf of Mexico projects.

The net loss was calculated at $3.51 per share, and Chevron's $36 billion in revenue was off nearly 15 percent over the same quarter a year ago.

https://www.upi.com/Top_News/US/202...uarterly-loss-in-a-decade/5481580487828/?sl=2

Watch: News anchor shows Americans the true size of the wealth gap—using American Pie

A four minute video that aired on CBS Friday morning was praised for using slices of real pie to show the huge wealth gap in the U.S.—surprising passers-by who joined anchor Tony Dokoupil at a table set up at a mall in West Nyack, New York.

“Give this video four minutes and let’s start the revolution,” tweeted actor Matthew Lillard.

Even the most cynical participant didn’t come close to the real amount—nine pieces for the top 20% of Americans and the bill for the lowest 20%.

Click to expand...

No wonder Donnie's so fat! He eats all the pie!

JackLuis said:

Watch: News anchor shows Americans the true size of the wealth gap—using American Pie



No wonder Donnie's so fat! He eats all the pie!

Click to expand...

So??

This isn't N. Korea comrade.....it's ok to be rich in the USA.

You're allowed to pursue your happiness here. Why is that such a problem for you and the left??

jaF0 said:

Macy's is closing 125 stores and laying off 2,000 employees
Washington Post|21 minutes ago
The legacy retailer Macy's is closing 125 stores -- about a fifth of its total -- and laying off about 2,000 workers as it struggles to shore up sales after a disappointing holiday season. The retailer is also shutting down its second headquarters in Cincinnati and will move operations to New York, the company announced in a statement on Tuesday.

Click to expand...

One retailer does not define the industry as a whole. Macy’s struggles, other retailers are thriving. US retail sales have been rising at a nice clip.

BabyBoomer50s said:

One retailer does not define the industry as a whole. Macy’s struggles, other retailers are thriving. US retail sales have been rising at a nice clip.

Click to expand...

But ORANGE HITLER BAD!!!

BabyBoomer50s said:

One retailer does not define the industry as a whole. Macy’s struggles, other retailers are thriving. US retail sales have been rising at a nice clip.

Click to expand...

The ones Macy's hasn't already put out of business with their nefarious business practices, that is.

K. Gibson, Nearly 60% of Americans say they're better off financially than a year ago, CBS (Feb. 5, 2020).

The economy is slowing – in large part because of Trump’s trade wars.

The manufacturing sector is contracting. Spending on warehouses, offices and factories is falling. Agriculture is taking a big hit. A fifth of the economy is effectively in recession.

Perfectly_shaped_buttocks said:

The economy is slowing – in large part because of Trump’s trade wars.

Click to expand...

Maybe....we saw the minor dings it cause and blew right past that without blinking, so pretty unlikely.

I think the long sustained growth has more to do with it.

Can't go up forever.

Perfectly_shaped_buttocks said:

The manufacturing sector is contracting.

Click to expand...

Been on an overall downward trend for 30 years.

Perfectly_shaped_buttocks said:

Spending on warehouses, offices and factories is falling.

Click to expand...

Been waiting for it.

Perfectly_shaped_buttocks said:

Agriculture is taking a big hit.

Click to expand...

I keep hearing this....where is this coming from??

Unless you're one of the few subsidized government farmer who "sells" everything to China that didn't make ANY plans for switching products/markets when Trump won?

Agriculture is better than ever.

Even the urban guys are crushing it, there are whole new methods and markets blowing up right now.

It's an absolute golden age for the vast majority of farms right now.

Perfectly_shaped_buttocks said:

A fifth of the economy is effectively in recession.

Click to expand...

Not the agricultural part.... but some sectors of the economy certainly are looking downhill.

Trade wars play a part in it but overall once we get some hindsight on it I think we will find they are rather inconsequential to the hyper extension of our economy and deep indebtedness of our society.

Can't grow forever, the bubble will eventually burst no matter how good, no matter what economic genius is at the helm.

All markets eventually will eventually stall, pull back and or crash. It's just a reality of market economies.

Perfectly_shaped_buttocks said:

.... A fifth of the economy is effectively in recession.

Click to expand...

That's not really how "recession" works, but I understand your point.

The main part of the economy that's shrinking is "brick and mortar" retailing. Call it the Amazon effect. That's not really bad, because it is simply the economy adjusting to new technology. Ultimately, after a period of turmoil, it will lead to a more efficient, and therefore more robust, economy.

DawnONight said:

That's not really how "recession" works, but I understand your point.

The main part of the economy that's shrinking is "brick and mortar" retailing. Call it the Amazon effect. That's not really bad, because it is simply the economy adjusting to new technology. Ultimately, after a period of turmoil, it will lead to a more efficient, and therefore more robust, economy.

Click to expand...

But AOC say AMAZON BAD! BAD I say! I believe overall retail sales increased by .3% in Dec 2019. There is a definite migration from bricks and mortar to online sales and like most tech innovations there will be a period of adjustment. Good innovative management will adjust and others will die on the vine and so goes capitalism and free markets.

BotanyBoy said:

Maybe....we saw the minor dings it cause and blew right past that without blinking, so pretty unlikely.

Click to expand...

Well the company I work for is a manufacture. We make things out of ...steel.

So when Mr Trump decide to nail Canada with a steel tariff, what do you think our company did? Pay the tariff and say, oh thank you Mr Trump for adding 25% to our raw material costs??

That is right we found another supplier in another country.

Cheers

Fuzzy1975 said:

Well the company I work for is a manufacture. We make things out of ...steel.

So when Mr Trump decide to nail Canada with a steel tariff, what do you think our company did? Pay the tariff and say, oh thank you Mr Trump for adding 25% to our raw material costs??

That is right we found another supplier in another country.

Cheers

Click to expand...

And by that tariff, now rescinded, I believe, along with others, we got the USMCA, which addresses most of the complaints the grumblers on this thread have made.

As household debt hits $14 trillion, economists say Fed solution for next recession insufficient

“For most people, these policies will further increase in their cost of living, while their wages remain stagnant.”

On the heels of reports that U.S. household debt hit $14 trillion for the first time in history, Federal Reserve Chair Jerome Powell told lawmakers Wednesday that the central bank would use quantitative easing as the primary weapon to combat the next recession.

Click to expand...

Will they pay it back?

Left economist Arash Kolahi took to Twitter to push back against the strategy, calling the tactic “basically upward wealth redistribution at the expense of the many.”

“For most people, these policies will further increase in their cost of living, while their wages remain stagnant,” Kolahi explained. “In effect, it’s like taxing the many to further enrich the investor class.”

Click to expand...

Thank you Rethuglicunts.

President Donald Trump wants you to believe the American economy “is the best it has ever been” — but he also wants you to believe that “serious economy conditions affecting the general welfare” justify his proposal to cut a scheduled pay raise for federal workers.

The juxtaposition illustrates how nothing Trumpworld says can be taken at face value, as well as the disdain the administration has for non-military government workers.

Trump made the aforementioned claim about the economy being “the best it has ever been” during his State of the Union speech on February 4. He reiterated it on Tuesday.

During congressional testimony on Wednesday, Treasury Secretary Steven Mnuchin echoed Trump’s theme, telling senators that the president’s “economic freedom agenda is working” and that “American families are earning more each year ... growth [will] reduce our debt and deficits over time.”

But at the same time as Trump and administration officials are painting this rosy picture, the president quietly sent a letter to Congress on Monday announcing that as part of his 2021 budget proposal, he wants a scheduled pay raise for civilian federal workers cut from 2.5 percent to just 1 percent. The letter cites a “national emergency or serious economic conditions affecting the general welfare” and claims federal agencies “cannot sustain such increases.”


https://www.vox.com/2020/2/13/21136131/trump-federal-workers-cut-pay-raises-federal-budget

https://www.investors.com/politics/...conomys-weakest-link-now-surging-under-trump/


Start here!

EDITORIALS
Wages, Obama Economy's Weakest Link, Now Surging Under Trump
FacebookTwitterLinkedInShare Licensing
08:00 PM ET 01/29/2018

Getting Paid: Even as the economy continued its modest recovery in recent years, there was one critical missing element: wages. Despite unemployment declines, wage gains remained tame. Thankfully, that's now coming to an end.
A new survey out by the National Association of Business Economics finds that companies are starting to boost pay for their workers in order to attract and keep productive, skilled employees in a tighter labor market.

That adds to mounting anecdotal evidence of a wave of pay raises, bonuses and new investments by major corporations fueled by the passage of Trump's tax cuts in December — evidence of a surge in economic growth. No Hidden Agenda: Get News From A Pro-Free Market, Pro-Growth Perspective. Almost half — 48% — of the NABE survey of 119 of its member companies said that their wage and salary packages had increased during the last three months, while none reported reducing pay for workers. That difference of 48 percentage points is the highest since January 2000 and third-highest since the survey started in 1982.

It doesn't stop there, however. Over the next three months, "the (index) for expected wage costs increased from 46 in the October survey to 58 in January — the highest level since this question was added to the survey in April 2014," the NABE survey said. So, in short, wages are starting to rise fast, a trend that is expected to continue, as companies invest more, add jobs and look for qualified workers to do them. The widely followed tally by Americans for Tax Reform of companies either raising pay or handing out big bonuses following December's tax cuts now stands at 275 — and rising.

Companies as diverse as Apple and Wal-Mart are adding to the pay packets of their workers, in some cases making pending minimum-wage hikes moot, as in the case of Wal-Mart. Some three million workers have already seen a hike in pay, a bonus or more money added to their 401(k), the first sweet fruit of the tax cuts.
Why are companies doing it? Not to be nice. No, the real reason is that, in what's expected to be a fast-growing economy, they want to retain their best workers. But they're not only raising pay, they're also investing in their workers. In the NABE survey, companies that have trouble hiring enough qualified workers say they're "training (workers) internally" (31% of respondents) and "raising pay" (29%) in response to market pressures.

Both are great news for American workers, who will emerge from this expansion with higher pay, more skills and, hopefully, better job security than following the last two recessions. And despite fears of a robotized army taking over America's workforce, just 22% of the companies reported that they had "invested in automation" to make up for a lack in skilled workers.

Since the 2008-2009 recession, wage growth for workers has been stuck at 2.5% or lower — compared to a 3%-plus growth rate for wages before the financial crisis.

DawnONight said:

And by that tariff, now rescinded,

Click to expand...

Yes, but we are not buying US steel, the other steel was cheaper, sorry you lost that round.

You should realise when these orders are made, it is not for a couple tons....it's for hundreds of thousands....pffft

I love how one day Trump will be bragging that we're experiencing the "best ever" economy and the next day, he'll tell us that the country is broke and we can't afford to spend money on things like schools, federal employees or veterans benefits.

He can't seem to keep his story straight.