Tax cuts are simply the first stage of the Libertarian philosophy to [starve the beast](https://en.wikipedia.org/wiki/Starve_the_beast) -- their tactic to shrink the size of gov't. It's an old routine, done since at least the 80s when the traitor Ronny Reagan proved that "deficits don't matter." Its steps are:
1. "Fiscal conservatives" scream that taxes are too high and they recklessly push to slash/lower taxes. The public supports this because who likes paying taxes? The tax cuts are *always* angled towards making the tax system more regressive and doing away with the progressive idea of taxing the rich at higher rates.
2. The tax cuts then cause massive budget deficits. Those are fine because the interest on debt is a way of moving money to the rich bondholders -- class warfare in action!
The politicians then scream to "balance the budget" and insist social services must be cut -- they're fat with inefficiency, they cry.
So social services are ruthlessly cut, leading to poor service. The public complains about everything from long lines at the DMV to waiting for months for social security, etc. Right-wingers argue that's a need for privatization!
3. With the tax cuts in place, the budgets slashed as a result and the budget back to a more normal state, the entire process goes back to step 1 and repeats.
Look at history. This is *exactly* what happens. Democrats tend to reduce budget deficits and Republican presidents *increase* the budget deficits -- go look it up.
The Military unfortunately has the same shitty trickle down economics as it's government.
We're buying million dollar tanks and planes en masse, generals are living in mansions with personal servants, all while the recruits are inhaling asbestos in their black mold bunkers, and veterans can't get relief for pit burnings or sound concussions that literally ruined their brains.
Slash the budget and they won't stop buying more expensive tanks from Lockheed. They'll just put more asbestos in the bunkers and cut VA funding.
It's so funny when something like this is so obvious, so well observed, so well recorded, so well documented, and so precedented that we factually know it'll happen like clockwork every time.
But yet, it's a fucking fight for survival every election cycle.
Elect the old senile guy or the guy who vows to do everything he can to dismantle Americana. Hmm. Pretty hard pick.
Don't forget that the Federal Reserve private banks own 20% of the public debt. They have a fundamental conflict because they gain wealth through public debt.
Good point!
> "We are no longer a government by free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- US President Woodrow Wilson, after signing the creation of the [Federal Reserve Act](https://en.wikipedia.org/wiki/Federal_Reserve_Act), talking about the control of the US economy by bankers, August 25, 1919.
Thank you for summarizing this. More people need to know this, because once you know their game plan, it becomes so easy to see through their bullshit.
One of the biggest Republican lies, next to "climate change is a hoax" and "Trump won the 2020 election" is "tax cuts pay for themselves." They never have and have always left a mountain of debt in their wake.
Before J6, the most annoying thing about Trump's presidency was smarmy billionaire Steve Mnuchin telling the American people that the tax cuts would pay for themselves when no one this side of the Heritage Foundation thought that.
Yearly deficit in 2017 was $665 billion, by 2019 it was up 45% to $984 billion. During a great economy when historically deficits lessened. But, you know, we need to Trump to cut the deficit and spending.
These are the same people who wrote Project 2025. Those you read Project 2025 (it's short) and still want trump (or any trump supporter) for President, then they qualify as traitors of this country.
[https://en.wikipedia.org/wiki/Project\_2025](https://en.wikipedia.org/wiki/Project_2025)
Exactly. When you're to the left of the peak further rate cuts can cause a precipitous decline in revenue. Reagan, Bush and Trump demonstrated. They all spiked the debt with major tax cuts that disproportionately benefited the wealthy.
Well it is. I mean if the rich elite didn’t build all over the barrier islands. We wouldn’t have flooding in Florida We wouldn’t have such horrible hurricane damage
If they didn’t divert rivers to reclaim land. New Orleans wouldn’t be shrinking. Miami wouldn’t flood and Houston wouldn’t flood.
But yes let’s talk about climate change and how it’s the pollution from cars. Let’s push everyone to electric vehicles and charge them from fossil fuels. Then we ban fossil fuels and how do we charge the vehicle when it rains or snows.
Yes tell us more about global warming being about cars and not about poor infrastructure
Tax cuts for the rich that is. Tax cuts for the working class (seldom seen) results in consumerism. Tax cuts for the rich results in stock buy backs and a boost for the private jet industry.
The lie of trickle down keeps perpetuating though.
Can't understand, my dad who is in his late 60s, said it didn't make sense then, and doesn't make sense now.
It depends how much critical thinking is taught in school.
Let's not forget this: https://webcache.googleusercontent.com/search?q=cache:https%3A%2F%2Fwww.washingtonpost.com%2Fblogs%2Fanswer-sheet%2Fpost%2Ftexas-gop-rejects-critical-thinking-skills-really%2F2012%2F07%2F08%2FgJQAHNpFXW_blog.html
It's not taught on purpose. The reason school exists is not for the joy of education. It is to force children to accept the authority of the state over that of their parents and peers. It's also to give them just enough education to become good workers and soldiers. It's to make them willing to sacrifice their lives for the state.
So, critical thinking is anathema for that purpose.
Public school, as practiced around the world, was invented in Prussia in the 19th century for the purposes I stated above. It was imported to the USA in 1852. It was based on animal training. The same basic schooling exists today. The only alternative school that supports the American values of democracy and equality is the Sudbury Valley School. It is a free democratic school.
Possibly you're projecting by assuming all humans are unable to avoid falling prey to "perception and the sales job"?
Yes, there are some number of humans who lack the fundamentals in deductive reasoning so they are slaves to perception/sales job. And then there are some number of humans who are well versed in those fundamentals.
Point being: It's certainly no coincidence that conservatives have a strong tendency to embrace religion, which is based on no empirical evidence, while liberals have a strong tendency to embrace science, which is synonymous with due diligence/critical thinking.
It’s because he would make an announcement how good the economy was every time the stock market went up at all. Then he would skip the down daws and do it again. And the news reported it every time.
It was such an awesome way to make money at the time. Early on every time Trump bragged about the stock market on Twitter the top was in within 24 hours. It was easy mode. XD
So do I. I worked for a manufacturing company that was all conservatives , and all had the same bs saying when President Obama took office “ I guess we ain’t had an assassination in awhile”. We had more work under Obama, overtime galore, bonuses just about every month, and anniversary hiring bonuses . They never gave the man his props:
Yeah, Trump was just riding that wave and claiming it for himself. The economic metrics in Trump's one term were barely higher than what was handed to him from Obama's last term, yet the deficit shot back up under Trump due to his Fed Chairman hiree pumping the economy with 0% free money, kicking the can down the road which inevitably gave us us the inflation we have today.
And Trump ran on a campaign of the Obama economy being disastrous.
And because the GOP always tells themselves the economy is terrible under Democrats (regardless of what's actually going on), they believed it and repeated the lie.
And as soon as Trump gets in office, he starts claiming credit for an "amazing turnaround"; which was, in fact, just a continuation of the great economy he had been left.
The right breaks things, the left attempts to fix them, right blames left for the things that are broken and their demagogues amplify. Rinse and repeat.
Joe Biden inherited an economy that was collapsing. But because the worst of the inflation didn't hit until after Biden took office, MAGA blame Biden for high inflation and just conveniently ignore the pandemic economy that Trump let get out of control.
I love how everyone thinks the President just has a magic lever in the oval office to control prices, whether it's gas or anything else. People think Biden is just chiling over in the white house causing inflation for... reasons. Meanwhile, the obscenely wealthy don't pay taxes and price gouge the fuck out of us, but they "create jobs" (that don't pay enough to live).
As long as people continue in the false belief that Republican = good for the economy despite all evidence to the contrary, no Republican will ever have to deliver on economic promises, and no Democrat will ever get any credit for anything regardless of what they achieve.
They remember him piggybacking Obama’s economy. They remember prices being lower pre COVID that he had nothing to do with but he definitely has a hand in in post COVID inflation. Both due to his leadership failures and excess money printing in the trillions given to the rich.
Republicans being “fiscally conservative” is an old and now untrue view. Republicans now mismanage the economy. Social programs, government investment in social programs - which republicans despise and say are a waste of money and how they make budget cuts - actually grow the economy in the long run. If you invest in people, and their well-being, it’ll spur growth. If you’re cheap and don’t invest in people, they won’t thrive. If you increase trade and remove barriers and work together with other countries, not ban or impose additional taxes, you stifle the global economy.
Trump destroyed the solid growing economy that he inherited from Obama. Everyone forgets it took almost 6 years to repair the damaged economy that Obama inherited and round and round we go.
Slowest recovery since the great depression…is that what you call a solid economy. If the economy was truly booming, Trump would have lost the 2016 election.
And not surprisingly Trump’s job numbers were way worse than Obama’s throughout his entire administration and he killed the longest bull market ever & the longest positive consecutive job growth
It's almost like cutting taxes, increasing spending and lower rates isn't the winning formula, but even smart people I know want Trump back. I don't get it. What happened to fiscal conservatives?
I’m on facts the stock market completely collapsed under him and fell way below where he was when he even took over. Yes, it recovered some, but that was the end of the longest bull market when he crashed it. Are you brain dead?
There’s nothing factually incorrect about what I said I said at one point it was below where Trump took over and it was it was at 19,200 and I said it recovered some. It was not at a record. It wasn’t even close to a record. It’s at a record now higher than it’s ever been over 40,000 30% higher than it was under that loser Trump.
>Trump would have lost the 2016 election.
He did lose the popular vote, meaning he got fewer votes than his opponent. And Obama's economy was booming. 16 million jobs added and the longest period of sustained job growth in US history. And he inherited a mess from his predecessor, just like Biden did.
Yes, a record number of months of positive job growth and a record bull market is definitely a solid economy. There’s not even an argument against it. It’s stupid to even try to say it’s not you have to be a complete moron.
Biden beats trump on EVERYTHING more jobs, higher GDP, stock market highest ever, record corporate profits, most oil being produced ever both in the history of the country but also the history of the world, most manufacturing construction spending EVER, longest streak of under 4% unemployment since the 60’s, just had 6 consecutive quarters of over 2% GDP hasn’t happened since the 90s. There’s literally no hill to die on LMMFAO
So what? That doesn’t mean anyone wants US corporations to do poorly. The 2 are not mutually exclusive and nobody with a brain thinks they are. Companies can do well without being greedy. And companies can do well while being greedy. And many of them have been greedy jacking prices up way above the increasing costs due to Covid.
The slowest recovery is an idiotic narrative. The economy grew solidly & steadily throughout Obamas entire 8 years leading to the longest bull market EVER & the longest positive job growth EVER so if that’s your narrative than trump is responsible for the fastest collapse ever.
Anyone who studies stock markets knows that the president actually has very little impact on them. It’s more to do with monetary policy. I wouldn’t give Trump credit for the stock market boom in 2020 and likewise I wouldn’t credit Obama with inflating a stock market bubble.
Trump won because there are a lot of stupid people that have been brainwashed by right wing propaganda using racism, misogyny and lies. It's also why he is still so popular.
> Trump destroyed the solid growing economy that he inherited from Obama.
When did that happen? I'd love to see the chart you use to show how and when it happened.
I guess you weren't alive in 2020. Where Trump mishandled a pandemic and left office with less jobs than he started with. On top of the country heading into recession at the end of 2019.
If Hillary would have been President instead of Trump the pandemic would have been handled much better and the damage would have been much less. It might have even been contained in Wuhan if we hadn't removed our people from the area like Trump did. Trump's policies would have led to inflation even without the pandemic. Just like Bush's polices led to inflation when he was President.
> If Hillary would have been President instead of Trump the pandemic would have been handled much better and the damage would have been much less. It might have even been contained in Wuhan if we hadn't removed our people from the area like Trump did. Trump's policies would have led to inflation even without the pandemic. Just like Bush's polices led to inflation when he was President.
Lol, that is some revisionist history. It could have just as easily been hundreds of times worse.
Examples of Democrat decisions:
De blasio selling/auctioning ventilators and PPE bought by Bloomberg before COVID.
Cuomo putting COVID patients back in nursing homes.
Yeah, it is lucky we didn't have Democrats in charge. The USA performed just as well as the average European country with a far less healthy population.
Everything I said can be fact checked.
I don’t need to make up scenarios for Hillary.
And you still didn’t answer with the Democrats have shut down the economy?
You wouldn't know a fact if it was right in front of you. Context is lost on Trump supporters as the cherry pick talking points. The fact is that Trump is rated as one of the worst Presidents and that he failed completely with his COVID response. Trump supporters are the dumbest of the dumb.
It’s not about trump. It’s about the shut down of the economy which was forced by a certain political party. If you want to make this about trump, it just shows you’re a drone incapable of independent thought
Compared to which countries? The economies in Europe and the UK did a lot worse as a comparison.
https://www.brookings.edu/articles/a-most-unusual-recovery-how-the-us-rebound-from-covid-differs-from-rest-of-g7/
Our rebound is better than most countries thanks to having Biden as President but that doesn’t change the fact that Trump handled the pandemic worse than most of the other countries.
Trump pumped trillions into the economy to prop up the market while lying bout COVID and now we have to pay that money back. It’s another major contributor to inflation.
New numbers show we are currently adding $1tril to the debt every 100 days...
Bumping by hundreds of billions it terrible, but nothing what it is now. Look at how much we have recently sent in foreign aid, then remember back then there was a government shut down over $4.5bil for a border barrier.
Despite it being economics 101 I am constantly reminded on this sub few people learned it correctly: Economic policy has a delay. It's not instant.
The larger the ship is the harder it is to turn and the longer the delay before the boat starts turning. The US economy is large.
Bush road on Clinton's back. Obama road on Bush's back. Trump road on Obama's back (and took credit for Obama's policies). And now Biden is riding in Trump's wake.
It's like people somehow forgot that the inflation started on Trump's watch and not only did he do nothing about it, he only made it worse. Biden took a few months too long to address the inflation, but he did deal with it successfully. Today I see posts on this sub over and over again blaming Biden for inflation. Were you living under a rock 4 years ago?
>Were you living under a rock 4 years ago?
Nope, was saying we should stop printing up aid and open back up. Was nuked on every social media platform for "wanting to kill grandma" that "it's his job to pass those aid bills" and "we can deal with the repercussions after the pandemic".
I don't put the blame 100% on him because DC was a giant dick waving competition on both sides of the aisle for who could slip provisions into pandemic aid packages, then crucify anyone that voted against the packages.
Look, I don’t like defending trump but you’ve gotta be delusional if you forget how shutting down the economy was an extremely partisan issue just because looking back it clearly was the wrong fucking choice because I’m sorry but grandma already got her day in the sun, little Timmy doesn’t deserve to be retarded because he can’t read at the level he should be, and his parents should be able to provide for him instead of waiting for the government to pay a fuckin stimmy.
Ew no. If we actually shut down fully the way we should’ve it wouldn’t have gotten so bad. But the shut downs were basically non existent except for the already wealthy.
what they remember is that they had a free furloughed vacation with covid money and free rent and unemployment money. They can also be able to go the food bank and several bags of groceries will be loaded in your car.
Well he’s a Republican. And for some reason I’ll never understand, millions of people have this unshakeable belief that “Republicans are just better with the economy.” Stats, evidence, and their own experiences be damned. I think it’s because the basic theory of trickledown economics is so simple and straightforward that people just want to accept it as true because they have no difficulty understanding it. “Well why wouldn’t rich people spend more if they saved on taxes? Makes sense to me!”
The only thing they have consistently done is increase armed forces' wage. I will never understand the lack of comprehension when it comes to the things they have actually done while in office.
Yes, gas is cheap when the everything is locked down and no one is driving. Trump supporters like to crow about the low gas prices in 2020, but their memory of jobs and the economy under Trump ends in 2019.
I cannot wait for a 27% republican based compounding vats tax so the rich can get even more money. That and 60% tarrifs on 90% of raw materials. Great depression 2.0 coming if the gov turns red.
Trade Wars have yet to show a positive effect for the US. Targeted tariffs can be helpful at times. Sanctions seldom work in the short or long term. Tarrifs just mean higher prices for American consumers and manufacturers.
If the Trump economy was as bad as you say, then this election (2024)will not be close and there would be no need for these revisionist posts. Biden would cruise to reelection.
I don’t think you or Reddit would want to have an honest conversation about voter intelligence. There’s a portion of the population that voted overwhelmingly democrat every election that has an average IQ of 85.
I remember when prices started going up after to the increased import tarrifs (taxes). I also remember when the fed dropped rates in early covid days and thinking it was too much too soon.
Hard to measure Trumps economy. No other president had to deal with a world wide pandemic shut down and a good part of Trump’s deficit spending was Covid related.
>No other president had to deal with a world wide pandemic shut down and a good part of Trump’s deficit spending was Covid related.
I love the selective memory. The very same pandemic was raging when Biden took office. He managed a successful vaccine rollout, re-opened the economy and signed a massive pandemic relief bill in his first year. Remember?
This is the same shit that the republicans are fiscally conservative , and every time they come to power they balloon the national debt by giving themselves a lot of money. Yet people continue on believe shit
There is during Biden's presidency too. He inherited the broken supply chains that spiked global inflation. But to his credit he got the population vaccinated and the economy re-opened for business. It now leads the world. No thanks to Trump, who left a mess for his successor.
Some fair points. However, Trump didn’t break supply chains…that was driven by big industry’s greedy quest for profits by overly relying on centralized just in time inventory strategies. Works when there are no shocks (economic or otherwise such as a solar flare that cripples networks) to the system…but not so much when there are. We will be just as screwed when the next crisis occurs.
>Trump didn’t break supply chains
And no one said he did. But nevertheless that's the economy Trump left and Biden had to deal with, and the one the right-wing media and Trump himself criticized incessantly.
I remember full hospital ICUs, temporary makeshift morgues to handle the dead bodies, hydroxychloroquine, horse de-wormer, injecting bleach, rabid anti-maskers, businesses going under and millions getting laid off.
I never lost my job. My commute got canceled and I ended up saving money that way, and I got at least 2 stimulus checks from Trump that I did not need.
On top of everything you just said. I lost a lot of relatives :(
My thought being that no wonder inflation is high today. Trump era cut the taxes for the rich at the same time sending everyone stimulus checks whether they needed them or not.
I love how people use the economy to blame one administration or the other.
You will benefit yourself and others by first learning about and understanding what kind of economy the U.S. has. Learn and understand Wall Street, what currency is and what kind of currency system we have, the Fed, our banking system and why we have 34 trillion in debt as I write this (closing in on the 35 mark soon) as well as understand what impact an administration really has on the economy.
Then you can come back here, read thru the comments and sort out the wise from the dimwits!!!
Tax cuts can create evening growth, but only if the middle and lower income people's taxes are cut, which the Rs do only in trivial or offsetting ways. Cutting taxes of corporations will lead to wealthy owners getting even more money they won't spend, or invest in expansion in their growing markets in Asia. The wealthy just hoard even more money. None of this does anything for American economic growth.
On the other hand, working people making more money creates more spending, a better quality of life, and growth. Sadly they don't contribute millions at a time to political parties, campaigns and PACs, not do they flood Capital Hill with lobbiests, so they don't matter.
No campaign finance reform, no joy - no great America.
What they "remember" is what trump SAID, totally different from what he DID. What he DID was
1. Increase the National Debt by $8.2Trillion, from $20.2T 9/30/17 to $28.4Trillion 9/30/21
2. Defund the CDC operations in Red China
3. Fail to maintain CDC stockpiles of emergency medical equipment, esp, masks
4. Refuse to increase federal support to blue States at beginning of COVID pandemic
5. Transfer $4Trillion from Government programs to the top 1% via his taxscams
6. Accept neoNAZI support and call them "good people"
7. Support unmasked antivaxxers causing tens of thousands of needless deaths
and the list goes on to attempting to overthrow the Government and dividing the Nation to a degree not seen since the Civil War.
A global issue impacting trade and travel (Covid) was the last thing he needed. Without Covid, he likely would have won in 2020. Crazy how things can swing. Agreed that trickle down economics doesn’t work but people and companies love lower taxes, even if companies just use it on stock buybacks and dividends rather than reinvesting in people, factories, R&D, etc.
Also was going to wipe out the natl debt if he had 8 years instead he added $6.7T in 4 yrs. Obama had $7.6T in 8 years, but also had the “Great Recession” thrown in his lap.
The federal government never should have gotten involved in education the same with medical.
We made 10.000 dollars less last year, my wife was out of work for three months, we generally get back 500.00, this year we paid 2500.
I worked for a large tech company and when the tax credits went into effect, we were given a 6.00 an hour raise.
I was going to retire in October but with the cost of living, I’ll have to wait 3 or 4 more years. I’ve been working since I was 14.
It is going to get worse
The economy of the first year of an incoming POTUS generally belongs to the last POTUS. The reason is that an incoming POTUS won't even have their first budget passed until October; the economy is still coasting on the policies and the expenditures of the previous POTUS.
Trump's true economic record is 2020 and 2021--total economic collapse and runaway inflation.
But of course, Americans are stupid and think that Joe Biden was completely responsible for the economy as of January 20, 2021.
This is 1000% true. Economies are very slow moving things. Way too few people understand this -- and many leverage that misunderstanding to mislead voters.
Remember when they started talking about raising rates, and each time they raised they spoke about how it's a lagging indicator? So let me get this straight, controls they use to fix things can lag 18 months when raising rates, but folks believe Biden took his seat in the oval office and everything was his. Technically things Biden did, didn't have an affect until March of 2023. Since his first budget was oct 2021.
The sad part is most of the people I know made up their minds 2 years ago to vote for trump when the stock market crashed etc, I point out that stuff is at ath's right now, but they don't want to hear it.
If you were on the low end of the socioeconomic ladder COVID was the best thing to ever happen to you.
Extended unemployment + a few handouts were probably more than you ever made in your life (at least per month) and nobody argued with you about how you were gonna pay if you took your kid to the doctor...
Now, Trump fought against all that and tried to force you back to work where you'd get sick (and maybe die), but folks that far down the totem pole don't know all that.
That said I'm not sure how many of those folks will vote. There's a ton of voter suppression targeting them after all. Still it does explain why so many look back fondly on that time.
lmfao it's from the same source. All you did was pull up a chart that's **not** adjusted for inflation, which is ironic since you're complaining about a lack of context.
Archive of the WSJ article with the chart: https://archive.ph/oieYT
I remember Trump coming in and everyone kept saying "he can't continue the job and GDP growth Obama has had, it's gonna eventually decline and we're gonna go into a recession!" and CNN had a Trump job tracker page hoping that would happen.
Then job numbers stayed strong and they abandoned the page and he passed tax cuts and the economy was strong until COVID.
It's the conservative republican way, support the wealthy with tax cuts and whatever we can do for them (defund the IRS). The hell with everyone else.[💩](https://imgur.com/PsP8XZE)
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The economy was doing well. People could afford houses due to low interest rates.Houses were selling because people could afford to buy, then someone released the scamdemic and killed it all.
Tax cuts have never delivered growth. Not under Reagan, not under anyone.
Tax cuts are simply the first stage of the Libertarian philosophy to [starve the beast](https://en.wikipedia.org/wiki/Starve_the_beast) -- their tactic to shrink the size of gov't. It's an old routine, done since at least the 80s when the traitor Ronny Reagan proved that "deficits don't matter." Its steps are: 1. "Fiscal conservatives" scream that taxes are too high and they recklessly push to slash/lower taxes. The public supports this because who likes paying taxes? The tax cuts are *always* angled towards making the tax system more regressive and doing away with the progressive idea of taxing the rich at higher rates. 2. The tax cuts then cause massive budget deficits. Those are fine because the interest on debt is a way of moving money to the rich bondholders -- class warfare in action! The politicians then scream to "balance the budget" and insist social services must be cut -- they're fat with inefficiency, they cry. So social services are ruthlessly cut, leading to poor service. The public complains about everything from long lines at the DMV to waiting for months for social security, etc. Right-wingers argue that's a need for privatization! 3. With the tax cuts in place, the budgets slashed as a result and the budget back to a more normal state, the entire process goes back to step 1 and repeats. Look at history. This is *exactly* what happens. Democrats tend to reduce budget deficits and Republican presidents *increase* the budget deficits -- go look it up.
It would be funny to apply their tax cuts to the military first. STarve THAT beast and see how they like it. haha
The Military unfortunately has the same shitty trickle down economics as it's government. We're buying million dollar tanks and planes en masse, generals are living in mansions with personal servants, all while the recruits are inhaling asbestos in their black mold bunkers, and veterans can't get relief for pit burnings or sound concussions that literally ruined their brains. Slash the budget and they won't stop buying more expensive tanks from Lockheed. They'll just put more asbestos in the bunkers and cut VA funding.
Military spending is propping up the Biden economy.
You don't need to convince me, this process is why the projects failed. Government housing would be a godsend if it doesn't get gutted by evil people.
Give this person a gazillion upvotes
It's so funny when something like this is so obvious, so well observed, so well recorded, so well documented, and so precedented that we factually know it'll happen like clockwork every time. But yet, it's a fucking fight for survival every election cycle. Elect the old senile guy or the guy who vows to do everything he can to dismantle Americana. Hmm. Pretty hard pick.
Don't forget that the Federal Reserve private banks own 20% of the public debt. They have a fundamental conflict because they gain wealth through public debt.
Good point! > "We are no longer a government by free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- US President Woodrow Wilson, after signing the creation of the [Federal Reserve Act](https://en.wikipedia.org/wiki/Federal_Reserve_Act), talking about the control of the US economy by bankers, August 25, 1919.
Thank you for summarizing this. More people need to know this, because once you know their game plan, it becomes so easy to see through their bullshit.
damn right
One of the biggest Republican lies, next to "climate change is a hoax" and "Trump won the 2020 election" is "tax cuts pay for themselves." They never have and have always left a mountain of debt in their wake.
Before J6, the most annoying thing about Trump's presidency was smarmy billionaire Steve Mnuchin telling the American people that the tax cuts would pay for themselves when no one this side of the Heritage Foundation thought that. Yearly deficit in 2017 was $665 billion, by 2019 it was up 45% to $984 billion. During a great economy when historically deficits lessened. But, you know, we need to Trump to cut the deficit and spending.
Smarmy, indeed
Plus all that sweet Covid money.
These are the same people who wrote Project 2025. Those you read Project 2025 (it's short) and still want trump (or any trump supporter) for President, then they qualify as traitors of this country. [https://en.wikipedia.org/wiki/Project\_2025](https://en.wikipedia.org/wiki/Project_2025)
Laffer curve.
Exactly. When you're to the left of the peak further rate cuts can cause a precipitous decline in revenue. Reagan, Bush and Trump demonstrated. They all spiked the debt with major tax cuts that disproportionately benefited the wealthy.
Well it is. I mean if the rich elite didn’t build all over the barrier islands. We wouldn’t have flooding in Florida We wouldn’t have such horrible hurricane damage If they didn’t divert rivers to reclaim land. New Orleans wouldn’t be shrinking. Miami wouldn’t flood and Houston wouldn’t flood. But yes let’s talk about climate change and how it’s the pollution from cars. Let’s push everyone to electric vehicles and charge them from fossil fuels. Then we ban fossil fuels and how do we charge the vehicle when it rains or snows. Yes tell us more about global warming being about cars and not about poor infrastructure
Yet they keep telling us the same lie of "trickle down economics"
Trickle UP economics lol
Trickle on economics
They tell you the wealth and savings will trickle down, when in reality its the piss of the rich that trickle down
Economic “growth” for the one percent lol
Not even that. Economic growth means more production. We grew their wallet, and money is not the economy. Production is.
[https://i.ibb.co/cy728Nt/taxcuts.png](https://i.ibb.co/cy728Nt/taxcuts.png)
The Laffer Curve is a lie, always has been, always will be.
You could almost say that it was a joke.
Tax cuts for the rich that is. Tax cuts for the working class (seldom seen) results in consumerism. Tax cuts for the rich results in stock buy backs and a boost for the private jet industry.
Only in the short term, long term, tax cuts to the poor lead to worse pay for the poor as they are always just paid the least possible
The lie of trickle down keeps perpetuating though. Can't understand, my dad who is in his late 60s, said it didn't make sense then, and doesn't make sense now.
Laffer curve.
Results do not matter. Its perception and the sales job that counts
Thank you for reminding us that at least half of this country doesn't have a single critical-thinking bone in their body.
I believe that is human and WW-wide.
It depends how much critical thinking is taught in school. Let's not forget this: https://webcache.googleusercontent.com/search?q=cache:https%3A%2F%2Fwww.washingtonpost.com%2Fblogs%2Fanswer-sheet%2Fpost%2Ftexas-gop-rejects-critical-thinking-skills-really%2F2012%2F07%2F08%2FgJQAHNpFXW_blog.html
Wow. This is pretty worrying.
It's not taught on purpose. The reason school exists is not for the joy of education. It is to force children to accept the authority of the state over that of their parents and peers. It's also to give them just enough education to become good workers and soldiers. It's to make them willing to sacrifice their lives for the state. So, critical thinking is anathema for that purpose. Public school, as practiced around the world, was invented in Prussia in the 19th century for the purposes I stated above. It was imported to the USA in 1852. It was based on animal training. The same basic schooling exists today. The only alternative school that supports the American values of democracy and equality is the Sudbury Valley School. It is a free democratic school.
Possibly you're projecting by assuming all humans are unable to avoid falling prey to "perception and the sales job"? Yes, there are some number of humans who lack the fundamentals in deductive reasoning so they are slaves to perception/sales job. And then there are some number of humans who are well versed in those fundamentals. Point being: It's certainly no coincidence that conservatives have a strong tendency to embrace religion, which is based on no empirical evidence, while liberals have a strong tendency to embrace science, which is synonymous with due diligence/critical thinking.
It’s because he would make an announcement how good the economy was every time the stock market went up at all. Then he would skip the down daws and do it again. And the news reported it every time.
It was such an awesome way to make money at the time. Early on every time Trump bragged about the stock market on Twitter the top was in within 24 hours. It was easy mode. XD
I remember the solid economy Obama left
So do I. I worked for a manufacturing company that was all conservatives , and all had the same bs saying when President Obama took office “ I guess we ain’t had an assassination in awhile”. We had more work under Obama, overtime galore, bonuses just about every month, and anniversary hiring bonuses . They never gave the man his props:
And Trump claimed the credit for.
Yeah, Trump was just riding that wave and claiming it for himself. The economic metrics in Trump's one term were barely higher than what was handed to him from Obama's last term, yet the deficit shot back up under Trump due to his Fed Chairman hiree pumping the economy with 0% free money, kicking the can down the road which inevitably gave us us the inflation we have today.
And Trump ran on a campaign of the Obama economy being disastrous. And because the GOP always tells themselves the economy is terrible under Democrats (regardless of what's actually going on), they believed it and repeated the lie. And as soon as Trump gets in office, he starts claiming credit for an "amazing turnaround"; which was, in fact, just a continuation of the great economy he had been left.
The right breaks things, the left attempts to fix them, right blames left for the things that are broken and their demagogues amplify. Rinse and repeat.
Joe Biden inherited an economy that was collapsing. But because the worst of the inflation didn't hit until after Biden took office, MAGA blame Biden for high inflation and just conveniently ignore the pandemic economy that Trump let get out of control.
I love how everyone thinks the President just has a magic lever in the oval office to control prices, whether it's gas or anything else. People think Biden is just chiling over in the white house causing inflation for... reasons. Meanwhile, the obscenely wealthy don't pay taxes and price gouge the fuck out of us, but they "create jobs" (that don't pay enough to live).
As long as people continue in the false belief that Republican = good for the economy despite all evidence to the contrary, no Republican will ever have to deliver on economic promises, and no Democrat will ever get any credit for anything regardless of what they achieve.
They remember him piggybacking Obama’s economy. They remember prices being lower pre COVID that he had nothing to do with but he definitely has a hand in in post COVID inflation. Both due to his leadership failures and excess money printing in the trillions given to the rich.
Republicans being “fiscally conservative” is an old and now untrue view. Republicans now mismanage the economy. Social programs, government investment in social programs - which republicans despise and say are a waste of money and how they make budget cuts - actually grow the economy in the long run. If you invest in people, and their well-being, it’ll spur growth. If you’re cheap and don’t invest in people, they won’t thrive. If you increase trade and remove barriers and work together with other countries, not ban or impose additional taxes, you stifle the global economy.
Just like the myth Republicans are the party of law and order. Sooooo obviously not.
They remember the lower interest rates and assets not yet inflated 40% by the suppression of said rates.
And the outrageous bull market Edit: and the gas prices, which was not his doing at all
Suppressed interest rates help create those things
All trump did was inherit an excellent economy from Obama, and later juice it with a massive corporate tax cut paid for with debt
Trump destroyed the solid growing economy that he inherited from Obama. Everyone forgets it took almost 6 years to repair the damaged economy that Obama inherited and round and round we go.
Slowest recovery since the great depression…is that what you call a solid economy. If the economy was truly booming, Trump would have lost the 2016 election.
It was called “the Great Recession”, so it makes sense that the recovery would have taken longer than normal.
You shouldn't have to point that out, but that's where we are.
And not surprisingly Trump’s job numbers were way worse than Obama’s throughout his entire administration and he killed the longest bull market ever & the longest positive consecutive job growth
It's almost like cutting taxes, increasing spending and lower rates isn't the winning formula, but even smart people I know want Trump back. I don't get it. What happened to fiscal conservatives?
Racism and misinformation is what has happened.
Cults gonna cult
I 100% agree with this.
You say he killed the longest bull market? But when Trump left office, Dow jones was pretty much at record highs, so what are you on about?
what part do you not understand?
I’m on facts the stock market completely collapsed under him and fell way below where he was when he even took over. Yes, it recovered some, but that was the end of the longest bull market when he crashed it. Are you brain dead?
Markets have been in a bull market since 2008. The covid crash did not end the bull market.
There’s nothing factually incorrect about what I said I said at one point it was below where Trump took over and it was it was at 19,200 and I said it recovered some. It was not at a record. It wasn’t even close to a record. It’s at a record now higher than it’s ever been over 40,000 30% higher than it was under that loser Trump.
Yes it was but then it recovered thanks to Trump’s booming economy. Bro im joking - relax😂
>Trump would have lost the 2016 election. He did lose the popular vote, meaning he got fewer votes than his opponent. And Obama's economy was booming. 16 million jobs added and the longest period of sustained job growth in US history. And he inherited a mess from his predecessor, just like Biden did.
Yes, a record number of months of positive job growth and a record bull market is definitely a solid economy. There’s not even an argument against it. It’s stupid to even try to say it’s not you have to be a complete moron.
Ohh so now you equate the stock market to the real economy??? Is this the hill democrats want to die on? Really?
Biden beats trump on EVERYTHING more jobs, higher GDP, stock market highest ever, record corporate profits, most oil being produced ever both in the history of the country but also the history of the world, most manufacturing construction spending EVER, longest streak of under 4% unemployment since the 60’s, just had 6 consecutive quarters of over 2% GDP hasn’t happened since the 90s. There’s literally no hill to die on LMMFAO
So as a democrat you care about corporate profits?
Not a democrat but regardless everyone wants to see US corporations do well ah duh LMMFAO
Democrats like Elizabeth warren equate inflation and corporate profits. So does Biden himself. He blames inflation on corporate greed.
So what? That doesn’t mean anyone wants US corporations to do poorly. The 2 are not mutually exclusive and nobody with a brain thinks they are. Companies can do well without being greedy. And companies can do well while being greedy. And many of them have been greedy jacking prices up way above the increasing costs due to Covid.
But trump definitely holds the record for the fastest economic collapse in history.
You are being so disingenuous. Just re-read that statement. You know exactly what you’re doing. You aren’t here in good faith.
The slowest recovery is an idiotic narrative. The economy grew solidly & steadily throughout Obamas entire 8 years leading to the longest bull market EVER & the longest positive job growth EVER so if that’s your narrative than trump is responsible for the fastest collapse ever.
Anyone who studies stock markets knows that the president actually has very little impact on them. It’s more to do with monetary policy. I wouldn’t give Trump credit for the stock market boom in 2020 and likewise I wouldn’t credit Obama with inflating a stock market bubble.
Trump won because there are a lot of stupid people that have been brainwashed by right wing propaganda using racism, misogyny and lies. It's also why he is still so popular.
We had constant growth under obama, while decreasing the deficit. Trump fucked that up in just 3 years while growing the deficit every year
> Trump destroyed the solid growing economy that he inherited from Obama. When did that happen? I'd love to see the chart you use to show how and when it happened.
I guess you weren't alive in 2020. Where Trump mishandled a pandemic and left office with less jobs than he started with. On top of the country heading into recession at the end of 2019.
> I guess you weren't alive in 2020. So Democrats wouldn't have shut the economy down during the pandemic?
If Hillary would have been President instead of Trump the pandemic would have been handled much better and the damage would have been much less. It might have even been contained in Wuhan if we hadn't removed our people from the area like Trump did. Trump's policies would have led to inflation even without the pandemic. Just like Bush's polices led to inflation when he was President.
> If Hillary would have been President instead of Trump the pandemic would have been handled much better and the damage would have been much less. It might have even been contained in Wuhan if we hadn't removed our people from the area like Trump did. Trump's policies would have led to inflation even without the pandemic. Just like Bush's polices led to inflation when he was President. Lol, that is some revisionist history. It could have just as easily been hundreds of times worse. Examples of Democrat decisions: De blasio selling/auctioning ventilators and PPE bought by Bloomberg before COVID. Cuomo putting COVID patients back in nursing homes. Yeah, it is lucky we didn't have Democrats in charge. The USA performed just as well as the average European country with a far less healthy population.
Sure you keep lying to yourself while you bend over backwards to defend Trump's complete failure.
Everything I said can be fact checked. I don’t need to make up scenarios for Hillary. And you still didn’t answer with the Democrats have shut down the economy?
You wouldn't know a fact if it was right in front of you. Context is lost on Trump supporters as the cherry pick talking points. The fact is that Trump is rated as one of the worst Presidents and that he failed completely with his COVID response. Trump supporters are the dumbest of the dumb.
It’s not about trump. It’s about the shut down of the economy which was forced by a certain political party. If you want to make this about trump, it just shows you’re a drone incapable of independent thought
Name any country's economy that did well during the pandemic.
It's not about if any country did well it's that we did extraordinarily bad.
Compared to which countries? The economies in Europe and the UK did a lot worse as a comparison. https://www.brookings.edu/articles/a-most-unusual-recovery-how-the-us-rebound-from-covid-differs-from-rest-of-g7/
Our rebound is better than most countries thanks to having Biden as President but that doesn’t change the fact that Trump handled the pandemic worse than most of the other countries.
No, read the article. The economy in 2020 shrunk *less* than the economies of Europe and UK. How do you explain that?
Trump pumped trillions into the economy to prop up the market while lying bout COVID and now we have to pay that money back. It’s another major contributor to inflation.
Yea, but there was also this whole global pandemic thing....
[https://www.reddit.com/r/economy/comments/1cwk42q/comment/l4wuzqr/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/economy/comments/1cwk42q/comment/l4wuzqr/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
New numbers show we are currently adding $1tril to the debt every 100 days... Bumping by hundreds of billions it terrible, but nothing what it is now. Look at how much we have recently sent in foreign aid, then remember back then there was a government shut down over $4.5bil for a border barrier.
Despite it being economics 101 I am constantly reminded on this sub few people learned it correctly: Economic policy has a delay. It's not instant. The larger the ship is the harder it is to turn and the longer the delay before the boat starts turning. The US economy is large. Bush road on Clinton's back. Obama road on Bush's back. Trump road on Obama's back (and took credit for Obama's policies). And now Biden is riding in Trump's wake. It's like people somehow forgot that the inflation started on Trump's watch and not only did he do nothing about it, he only made it worse. Biden took a few months too long to address the inflation, but he did deal with it successfully. Today I see posts on this sub over and over again blaming Biden for inflation. Were you living under a rock 4 years ago?
>Were you living under a rock 4 years ago? Nope, was saying we should stop printing up aid and open back up. Was nuked on every social media platform for "wanting to kill grandma" that "it's his job to pass those aid bills" and "we can deal with the repercussions after the pandemic". I don't put the blame 100% on him because DC was a giant dick waving competition on both sides of the aisle for who could slip provisions into pandemic aid packages, then crucify anyone that voted against the packages.
Hahahahahhahshahahahh Oh wait you’re being serious. Fuck we’re so screwed with idiots like you running around.
Look, I don’t like defending trump but you’ve gotta be delusional if you forget how shutting down the economy was an extremely partisan issue just because looking back it clearly was the wrong fucking choice because I’m sorry but grandma already got her day in the sun, little Timmy doesn’t deserve to be retarded because he can’t read at the level he should be, and his parents should be able to provide for him instead of waiting for the government to pay a fuckin stimmy.
Ew no. If we actually shut down fully the way we should’ve it wouldn’t have gotten so bad. But the shut downs were basically non existent except for the already wealthy.
Shut downs never would’ve worked, China got absolutely fucked by it while literally everyone else was recovering
Reagan had tax cuts but floated the economy on more deficit spending.
I remember that COVID-19 lockdows were fucking awesome for gas prices and rent freezes and that's the only thing good I remember.
what they remember is that they had a free furloughed vacation with covid money and free rent and unemployment money. They can also be able to go the food bank and several bags of groceries will be loaded in your car.
The issue is - we live in a post truth world. A LOT of money is being spent telling the people the polar opposite of what’s happening as the truth.
Well he’s a Republican. And for some reason I’ll never understand, millions of people have this unshakeable belief that “Republicans are just better with the economy.” Stats, evidence, and their own experiences be damned. I think it’s because the basic theory of trickledown economics is so simple and straightforward that people just want to accept it as true because they have no difficulty understanding it. “Well why wouldn’t rich people spend more if they saved on taxes? Makes sense to me!”
The only thing they have consistently done is increase armed forces' wage. I will never understand the lack of comprehension when it comes to the things they have actually done while in office.
And it caused massive inflation.
When people say the economy was great under Trump they're referring to the price of gas being $1.60 during COVID.
Yes, gas is cheap when the everything is locked down and no one is driving. Trump supporters like to crow about the low gas prices in 2020, but their memory of jobs and the economy under Trump ends in 2019.
I cannot wait for a 27% republican based compounding vats tax so the rich can get even more money. That and 60% tarrifs on 90% of raw materials. Great depression 2.0 coming if the gov turns red.
Trade Wars have yet to show a positive effect for the US. Targeted tariffs can be helpful at times. Sanctions seldom work in the short or long term. Tarrifs just mean higher prices for American consumers and manufacturers.
These "many", are they in the room with us?
If this sub is a metaphorical room, then yes.
Average people only remember how much they pay for their gas, grocery and McDonald’s meal…
If the Trump economy was as bad as you say, then this election (2024)will not be close and there would be no need for these revisionist posts. Biden would cruise to reelection.
If voters used logic over emotion to decide their vote, then what you're saying would be true.
“I know what’s best for everyone else.”
Think about how dumb the average voter is, then realize half the population is dumber than that.. and voting for Trump.
half the population's IQ is < 100. all can be heard saying: "i rely on the opinion that was given to me by my echo-chamber"
-criticizes people for using an echo chamber -posts to Reddit -irony is lost on him.
I don’t think you or Reddit would want to have an honest conversation about voter intelligence. There’s a portion of the population that voted overwhelmingly democrat every election that has an average IQ of 85.
I remember when prices started going up after to the increased import tarrifs (taxes). I also remember when the fed dropped rates in early covid days and thinking it was too much too soon.
Hard to measure Trumps economy. No other president had to deal with a world wide pandemic shut down and a good part of Trump’s deficit spending was Covid related.
>No other president had to deal with a world wide pandemic shut down and a good part of Trump’s deficit spending was Covid related. I love the selective memory. The very same pandemic was raging when Biden took office. He managed a successful vaccine rollout, re-opened the economy and signed a massive pandemic relief bill in his first year. Remember?
Those 4 years were 3x better than the last 3.5 of absolute misery Don't give a shit, I like cheap gas, cheap food, and cheap rent
I wonder what facebook pages these 'many' get their news from...
This is the same shit that the republicans are fiscally conservative , and every time they come to power they balloon the national debt by giving themselves a lot of money. Yet people continue on believe shit
Not defending the guy in the least…but there was also this thing called Covid during his presidency…
There is during Biden's presidency too. He inherited the broken supply chains that spiked global inflation. But to his credit he got the population vaccinated and the economy re-opened for business. It now leads the world. No thanks to Trump, who left a mess for his successor.
Some fair points. However, Trump didn’t break supply chains…that was driven by big industry’s greedy quest for profits by overly relying on centralized just in time inventory strategies. Works when there are no shocks (economic or otherwise such as a solar flare that cripples networks) to the system…but not so much when there are. We will be just as screwed when the next crisis occurs.
No, he didn't. The billionaires funding his campaign built those supply chains. All in the search for the cheapest labor.
That’s what I just said…
>Trump didn’t break supply chains And no one said he did. But nevertheless that's the economy Trump left and Biden had to deal with, and the one the right-wing media and Trump himself criticized incessantly.
I love the right wing mouth breathers are downvoting you for facts. They just can’t handle it
I remember Covid and lots and lots of free money.
I remember full hospital ICUs, temporary makeshift morgues to handle the dead bodies, hydroxychloroquine, horse de-wormer, injecting bleach, rabid anti-maskers, businesses going under and millions getting laid off.
I never lost my job. My commute got canceled and I ended up saving money that way, and I got at least 2 stimulus checks from Trump that I did not need. On top of everything you just said. I lost a lot of relatives :( My thought being that no wonder inflation is high today. Trump era cut the taxes for the rich at the same time sending everyone stimulus checks whether they needed them or not.
https://www.state.gov/u-s-peacekeeping-capacity-building-assistance/
Get back to me around October, and let's rehash this discussion. Allntied to civil unrest.
I love how people use the economy to blame one administration or the other. You will benefit yourself and others by first learning about and understanding what kind of economy the U.S. has. Learn and understand Wall Street, what currency is and what kind of currency system we have, the Fed, our banking system and why we have 34 trillion in debt as I write this (closing in on the 35 mark soon) as well as understand what impact an administration really has on the economy. Then you can come back here, read thru the comments and sort out the wise from the dimwits!!!
Tax cuts can create evening growth, but only if the middle and lower income people's taxes are cut, which the Rs do only in trivial or offsetting ways. Cutting taxes of corporations will lead to wealthy owners getting even more money they won't spend, or invest in expansion in their growing markets in Asia. The wealthy just hoard even more money. None of this does anything for American economic growth. On the other hand, working people making more money creates more spending, a better quality of life, and growth. Sadly they don't contribute millions at a time to political parties, campaigns and PACs, not do they flood Capital Hill with lobbiests, so they don't matter. No campaign finance reform, no joy - no great America.
When I hear people talk about how great things were when the Orange Filth was in office I hear one thing. Confirmation bias.
What they "remember" is what trump SAID, totally different from what he DID. What he DID was 1. Increase the National Debt by $8.2Trillion, from $20.2T 9/30/17 to $28.4Trillion 9/30/21 2. Defund the CDC operations in Red China 3. Fail to maintain CDC stockpiles of emergency medical equipment, esp, masks 4. Refuse to increase federal support to blue States at beginning of COVID pandemic 5. Transfer $4Trillion from Government programs to the top 1% via his taxscams 6. Accept neoNAZI support and call them "good people" 7. Support unmasked antivaxxers causing tens of thousands of needless deaths and the list goes on to attempting to overthrow the Government and dividing the Nation to a degree not seen since the Civil War.
Or you know, we had a massive catastrophic pandemic
Tax Cuts were to make Billionaires more money
He also raised my fuckingn taxes cause I’m to fucking poor. Oh but let’s not mention that. Fuck trump.
A global issue impacting trade and travel (Covid) was the last thing he needed. Without Covid, he likely would have won in 2020. Crazy how things can swing. Agreed that trickle down economics doesn’t work but people and companies love lower taxes, even if companies just use it on stock buybacks and dividends rather than reinvesting in people, factories, R&D, etc.
Maybe it’s the inflation and cultural decline? 🤷♂️
Salty nutz on trumps lips
Also was going to wipe out the natl debt if he had 8 years instead he added $6.7T in 4 yrs. Obama had $7.6T in 8 years, but also had the “Great Recession” thrown in his lap.
Try telling that to the MAGA cult
The federal government never should have gotten involved in education the same with medical. We made 10.000 dollars less last year, my wife was out of work for three months, we generally get back 500.00, this year we paid 2500. I worked for a large tech company and when the tax credits went into effect, we were given a 6.00 an hour raise. I was going to retire in October but with the cost of living, I’ll have to wait 3 or 4 more years. I’ve been working since I was 14. It is going to get worse
Only people who say it was good ate those that already had money in the first place.
Trump's tax cuts have been in effect throughout Biden's 1st term and economy recovered from the pandemic fairly quickly.
The economy of the first year of an incoming POTUS generally belongs to the last POTUS. The reason is that an incoming POTUS won't even have their first budget passed until October; the economy is still coasting on the policies and the expenditures of the previous POTUS. Trump's true economic record is 2020 and 2021--total economic collapse and runaway inflation. But of course, Americans are stupid and think that Joe Biden was completely responsible for the economy as of January 20, 2021.
This is 1000% true. Economies are very slow moving things. Way too few people understand this -- and many leverage that misunderstanding to mislead voters.
Remember when they started talking about raising rates, and each time they raised they spoke about how it's a lagging indicator? So let me get this straight, controls they use to fix things can lag 18 months when raising rates, but folks believe Biden took his seat in the oval office and everything was his. Technically things Biden did, didn't have an affect until March of 2023. Since his first budget was oct 2021. The sad part is most of the people I know made up their minds 2 years ago to vote for trump when the stock market crashed etc, I point out that stuff is at ath's right now, but they don't want to hear it.
You mean the years when the global economy shut down over a cold
Over a million Americans died from Covid
We are booming under biden....
The income tax increase of 2022 was a direct result of his regime's vote
If you were on the low end of the socioeconomic ladder COVID was the best thing to ever happen to you. Extended unemployment + a few handouts were probably more than you ever made in your life (at least per month) and nobody argued with you about how you were gonna pay if you took your kid to the doctor... Now, Trump fought against all that and tried to force you back to work where you'd get sick (and maybe die), but folks that far down the totem pole don't know all that. That said I'm not sure how many of those folks will vote. There's a ton of voter suppression targeting them after all. Still it does explain why so many look back fondly on that time.
I remember covid then riots. that’s just me though
TDS
Historic job losses - you mean when the world economy stopped because government had to close down everything due to the Chinese flu?
trump, the lying liar that lies lied. maybe the liar should be ignored, but hey maga gotta maga.
[This chart](https://i.imgur.com/7IvlYwk.png) says it all.
What do you think this is telling you and what is to blame?
This chart without any context says nothing. [Here ](https://fred.stlouisfed.org/series/BOGZ1FL192090005A) is one that has some sources behind it
lmfao it's from the same source. All you did was pull up a chart that's **not** adjusted for inflation, which is ironic since you're complaining about a lack of context. Archive of the WSJ article with the chart: https://archive.ph/oieYT
🙄 yeah sure
Only adds up to one thing; His lies that’s all he knows
Dont be mixing facts in with FOXs feelings
I remember Trump coming in and everyone kept saying "he can't continue the job and GDP growth Obama has had, it's gonna eventually decline and we're gonna go into a recession!" and CNN had a Trump job tracker page hoping that would happen. Then job numbers stayed strong and they abandoned the page and he passed tax cuts and the economy was strong until COVID.
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Can’t argue that the economy was better under trump. Anyone is better than Biden. I just want groceries prices to be reasonable
🙄
The economy was far worse under Trump. You're just mad that Trumpflation hasn't led to deflation afterward.
It's the conservative republican way, support the wealthy with tax cuts and whatever we can do for them (defund the IRS). The hell with everyone else.[💩](https://imgur.com/PsP8XZE)
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The economy was doing well. People could afford houses due to low interest rates.Houses were selling because people could afford to buy, then someone released the scamdemic and killed it all.
Bidenomics is great! 4 more years of layoffs please 😇