The US Economy Reverts To A Pre-Tax Cut Growth Rate

[pete311]

Glad that worked out...

]The US Economy Reverts To A Pre-Tax Cut Growth Rate
https://www.taxpolicycenter.org/taxvox/us-economy-reverts-pre-tax-cut-growth-rate

[SassyLady]

Glad that worked out...

]The US Economy Reverts To A Pre-Tax Cut Growth Rate
https://www.taxpolicycenter.org/taxvox/us-economy-reverts-pre-tax-cut-growth-rate


The Tax Policy Center is a joint project of the left-leaning Brookings Institution and the Urban Institute that the media routinely labels “nonpartisan.” Its record of hostility to any GOP tax reform that cuts tax rates shows the opposite.

[KarlMarx]

U6 unemployment - 7.2%
Under Obama it was over 9%

GDP growth rate has been over 3%
Under Obama it never was above 2%

U2 unemployment 3.7 percent
Under Obama, it was over 5 percent

Decreasing income tax rates reduces tax on labor, which lowers the rate of inflation, makes goods cheaper, and increases our competitive posture on global markets

Expecting that there should never be an economic downturn regardless of who is president is tantamount to expecting that the sun should stop moving in the sky.

Crack open an econ book instead of getting your economic news from people with a vested interest in bring down the president


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[pete311]

U6 unemployment - 7.2%
Under Obama it was over 9%

GDP growth rate has been over 3%
Under Obama it never was above 2%

U2 unemployment 3.7 percent
Under Obama, it was over 5 percent

Decreasing income tax rates reduces tax on labor, which lowers the rate of inflation, makes goods cheaper, and increases our competitive posture on global markets

Expecting that there should never be an economic downturn regardless of who is president is tantamount to expecting that the sun should stop moving in the sky.

Crack open an econ book instead of getting your economic news from people with a vested interest in bring down the president


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Need to recheck your numbers
https://www.bea.gov/news/glance

[pete311]

The Tax Policy Center is a joint project of the left-leaning Brookings Institution and the Urban Institute that the media routinely labels “nonpartisan.” Its record of hostility to any GOP tax reform that cuts tax rates shows the opposite.


Then try this source
https://www.forbes.com/sites/howardgleckman/2019/08/01/the-us-economy-reverts-to-a-pre-tax-cut-growth-rate/#15f932da62de

[Gunny]

Need to recheck your numbers
https://www.bea.gov/news/glance


Then try this source
https://www.forbes.com/sites/howardgleckman/2019/08/01/the-us-economy-reverts-to-a-pre-tax-cut-growth-rate/#15f932da62deYou are just stupid. Not a word for days, weeks and/or months at a time from you, then you appear with some wishful-thinking "gotcha" that doesn't last any longer than it takes someone to knock down your house of cards by deflating a balloon in its direction.

Here's a good idea: participate like you're a member of the board. Better yet, if droning on and on for years with this kind of crap is all you got, don't. You lefties gave up reality for desperate witch hunts long ago. You sound like it with your every post.

If our economy tanked back to Obama years we sure as f*ck would need YOU to tell us. Pretty sure we all have bank accounts.

[KarlMarx]

GDP growth was at reported at 2.1 percent for the last quarter . But that number is subject to revision since the quarter ended only one month ago and not all the data is in yet.

Previous quarters were

Q1-2019 3.1 percent - 2 revisions made
Q4-2018 2.2 percent - 1 revision made
Q3-2018 3.4 percent - 2 revisions
Q2-2018 4.2 percent ....

GDP is subject to changes due to many factors... housing, for instance, slows in the later quarters of a year then picks up.

If you were to compare GDP during the Trump administration to GDP during Obama’s administration, the difference is very noticeable.

Also, the DJIA closed at 26485 this week

On election night 2016, it was about 17000

That is around a 50 percent increase in the index. Why? Because companies’ earnings are up... and why is that? Trump tax cuts




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[pete311]

=

That is around a 50 percent increase in the index. Why? Because companies’ earnings are up... and why is that? Trump tax cuts


Earnings are up, but they are doing more stock buybacks than corporate investments. aka, the rich get richer. Does us no good.
https://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30

[SassyLady]

Earnings are up, but they are doing more stock buybacks than corporate investments. aka, the rich get richer. Does us no good.
https://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30

Are you worse off? Why is it a sin for people to get richer?

[pete311]

Are you worse off? Why is it a sin for people to get richer?

I also was not really affected by the 2008 crash. Does that mean it wasn't bad? The tax cut helped the 1% and the 99% are paying for it. Don't care about the national debt anymore? Pretty sure Trump said he'd erase it. Instead he added 4 trillion and counting. The feds don't cut rates during a good economy. Remember that.

[jimnyc]

Sweet, Pete posting about something "negative"?

That means it's out of context and will fall on him before long - like 399 out of the last 399 times. :)

Still love ya pete! :)

[High_Plains_Drifter]

I also was not really affected by the 2008 crash. Does that mean it wasn't bad? The tax cut helped the 1% and the 99% are paying for it. Don't care about the national debt anymore? Pretty sure Trump said he'd erase it. Instead he added 4 trillion and counting. The feds don't cut rates during a good economy. Remember that.
Sorry lefty, but that's bull shit... and the never Trumper fed should have never raised the interest rate in the first place. Lowering it is nothing more than a slight correction.

What the Left Doesn't Want You to Know About Trump's Tax Cuts

https://pjmedia.com/trending/what-the-left-doesnt-want-you-to-know-about-trumps-tax-cuts/


And Americans are ALL making more money since just about EVERYONE'S wages have gone up...

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

https://www.breitbart.com/politics/2019/01/31/trump-economy-blue-collar-wages-rise-faster-than-white-collar/

And that's all on top of historic stock market gains that have simply become commonplace, and the historic low unemployment, especially for blacks and hispanics, and then there's the record high GDP growth.

Yeah you can try and spread whatever BS spin you want, lefty, but the vast majority of Americans are better off now than they EVER were under the kenyan, or any other America hating democrat commie for that matter. In short, you people SUCK, and the majority of Americans know it. You turn cities into authoritarian TOILETS, and you sink economies and nations into the sewer. Democrats are a CANCER on society where ever they are on earth.

[pete311]

Sorry lefty, but that's bull shit... and the never Trumper fed should have never raised the interest rate in the first place. Lowering it is nothing more than a slight correction.


Lol now you're a world class economist?

Wages are nearing 2015 level
https://tradingeconomics.com/united-states/wage-growth

[SassyLady]

I also was not really affected by the 2008 crash. Does that mean it wasn't bad? The tax cut helped the 1% and the 99% are paying for it. Don't care about the national debt anymore? Pretty sure Trump said he'd erase it. Instead he added 4 trillion and counting. The feds don't cut rates during a good economy. Remember that.
How convenient for you to forget all the crap Obama did to this country.

I don't believe the 1%/99% lie.

I don't like the debt numbers, however, it will be substantially worse under a Democrat because the money will not be spent to protect the country ... instead it will be given away in social programs.

[pete311]

How convenient for you to forget all the crap Obama did to this country.

I don't believe the 1%/99% lie.

I don't like the debt numbers, however, it will be substantially worse under a Democrat because the money will not be spent to protect the country ... instead it will be given away in social programs.

So you have no ideals, as long as it's "your guy", they get carte blache. Missiles before meals. Sounds like Assad.

[jimnyc]

So you have no ideals, as long as it's "your guy", they get carte blache. Missiles before meals. Sounds like Assad.

As you ignored everything from Obama - AND everyone else that was remotely on the left?

Trump has fucked some things up. Some things fucked up by others. Some congress. And some a combo of Trump's work and then obstruction and what not from the left at every step, even from all the left supporters.

When Obama was in office, there WERE a lot of kooky folks on the right, doing and saying the same.... but outside of the internet, being violent, not as much. Acting on every little incident whether political or social event, not nearly as much, if at all. Trying to ruin others lives cause they support someone? Nope. Supporting every last person on the right proven to be involved in wrongdoing? Nope again.

You would be much better served staying factual on a subject than trying to one up others on how bad they are, when you're worse, or how dumb they are, when I've known some for many years and they are far from it. One thing I have always said about you, Noir, and even the delusional at times Gabby - seem like all very smart individuals. But.... I'll just leave it at that, that I think you are best served remaining factual, and maybe sticking with folks that remain similar with you.

[High_Plains_Drifter]

Lol now you're a world class economist?

Wages are nearing 2015 level
https://tradingeconomics.com/united-states/wage-growth
You don't have to be a world class economist to know the economy is on fire after obama dumped it in the toilet.

America's economy is now the envy of the world, and it's because of President Trump... sorry.

https://www.rmdfw.com/justthefactsblog/2018/06/18/the-american-economy-in-2018-is-the-envy-of-the-world

[pete311]

Loving the stock market today!

[STTAB]

I'll take a short term hit to my stock portfolio to win this trade war with China .

Pete must be a Chinese plant the way he wants the US to lose its trade war with China. I wonder what Xi has on Pete....... My guess is pictures of him with a naked 12 year old boy

[pete311]

I'll take a short term hit to my stock portfolio to win this trade war with China .

Pete must be a Chinese plant the way he wants the US to lose its trade war with China. I wonder what Xi has on Pete....... My guess is pictures of him with a naked 12 year old boy
How long is short term? 1 month? 1 year? 5 years?

[STTAB]

How long is short term? 1 month? 1 year? 5 years?

At least until after the 2020 election, because it is beyond obvious that Xi and China are dragging ass hoping to last that long and that Trump will lose reelection. If he gets another 4 years, China will have to deal, They can't hold out until 2024.

[High_Plains_Drifter]

How long is short term? 1 month? 1 year? 5 years?
Who cares? So long as china isn't stealing our intellectual property and continuing a horrendous trade imbalance, they can pound sand far as I'm concerned. They need us more than we need them. We can move all those manufacturing jobs back here and china will be in a world of shit for an economy. They're already hurting... screw 'em.

[pete311]

Who cares? So long as china isn't stealing our intellectual property and continuing a horrendous trade imbalance, they can pound sand far as I'm concerned. They need us more than we need them. We can move all those manufacturing jobs back here and china will be in a world of shit for an economy. They're already hurting... screw 'em.

So you’d be down for a 20 year recession just to make China flinch?

[STTAB]

So you’d be down for a 20 year recession just to make China flinch?

See here you are again Petey, I give you ANOTHER chance and you respond with dishonesty. NO ONE said anything about being okay with any recession, nor with China flinching.

Why can't you show a little respect for yourself, as well as us, and just be honest for a thread or two. Just try it.

[High_Plains_Drifter]

So you’d be down for a 20 year recession just to make China flinch?
.... :laugh:

I swear... you're just too intellectually DISHONEST to even remotely take serious. You're just a full on sack of BULL SHIT.

[pete311]

.... :laugh:

I swear... you're just too intellectually DISHONEST to even remotely take serious. You're just a full on sack of BULL SHIT.

ugh, you're the the one who said you don't care about 800pt DJIA drops and then I said for how long and you said you don't care... so... I ask again, how long would you stand for huge market drops due to Trump's trade war? 1 day, 1 month, 1 year, 5 years? How long?

[High_Plains_Drifter]

ugh, you're the the one who said you don't care about 800pt DJIA drops and then I said for how long and you said you don't care... so... I ask again, how long would you stand for huge market drops due to Trump's trade war? 1 day, 1 month, 1 year, 5 years? How long?
No... you asked if I would be good with a TWENTY YEAR RECESSION?

You must think china is in a better position to weather a trade war than we are. They're not. So the real question is, how long could china last?

What's china going to do when all those manufacturing jobs move back to America?

Are you in favor of supporting china ripping off America?

Sounds like you are.

[pete311]

No... you asked if I would be good with a TWENTY YEAR RECESSION?

You must think china is in a better position to weather a trade war than we are. They're not. So the real question is, how long could china last?

What's china going to do when all those manufacturing jobs move back to America?

Are you in favor of supporting china ripping off America?

Sounds like you are.

China has total control over their country. Trump does not. Send the DOW down 25% and Trump reverses ASAP or he loses the election. Trump doesn't have forever. He has 14 months. China can make us hurt in the 14 months, tank our economy and Trump loses. All he has is a perceived good economy. Take that away and the racist fuck is out.

When are manufacturing jobs move back to America? Are you supporting communism? Companies are not going to flock back.

I am not in favor of ripping off America, but tariffs are stupid and Trump keeps saying China pays. They don't pay. Even you should know that.

[STTAB]

China has total control over their country. Trump does not. Send the DOW down 25% and Trump reverses ASAP or he loses the election. Trump doesn't have forever. He has 14 months. China can make us hurt in the 14 months, tank our economy and Trump loses. All he has is a perceived good economy. Take that away and the racist fuck is out.

When are manufacturing jobs move back to America? Are you supporting communism? Companies are not going to flock back.

I am not in favor of ripping off America, but tariffs are stupid and Trump keeps saying China pays. They don't pay. Even you should know that.

Even I should know that LOL

Stop pretending like you are concerned about anything except getting Trump out of office Pete, no one is buying it.

[pete311]

Even I should know that LOL

Stop pretending like you are concerned about anything except getting Trump out of office Pete, no one is buying it.

Just as much as you were about getting Obama out.

[SassyLady]

How long is short term? 1 month? 1 year? 5 years?

However long it takes to get China to understand we've had enough of their shit. I don't want my grandchildren dealing with the crap we should have fixed.

Pete ... you cry uncle too soon. No fortitude, uh?

[pete311]

However long it takes to get China to understand we've had enough of their shit. I don't want my grandchildren dealing with the crap we should have fixed.

Pete ... you cry uncle too soon. No fortitude, uh?

However long it takes... as if it's just a waiting game. We can nearly destroy our own country, but as long as we end China, that is ok. We'll rebuild as India or Brazil take the lead for the next century. And yet you're okay with Trump adding 4 trillion to the debt and accruing record defects. Don't think your grandchilren will have to deal with that?

[KarlMarx]

Left wing trolls notwithstanding.

The idea that the economic upturn only benefits rich people shows a lack of understanding of our economy.

Who are the largest holders of stocks in this country? If we are to believe the Left, only the rich do. The fact is that more than half of all households own stocks. In addition, most, if not all, pension funds own stocks.

So the increase in the DJIA is benefitting Mr and Ms Joe Average more than Mr and Ms Moneybags.

[SassyLady]

However long it takes... as if it's just a waiting game. We can nearly destroy our own country, but as long as we end China, that is ok. We'll rebuild as India or Brazil take the lead for the next century. And yet you're okay with Trump adding 4 trillion to the debt and accruing record defects. Don't think your grandchilren will have to deal with that?

Pete, you sure do make huge jumps in logic. It's not about taking down China. It's about standing up for America. And, just because I support one thing does not necessarily mean I support everything. That is a mistake you make quite often about the people on this board. Quit painting everyone with such broad strokes. Your points get lost when you do that.

You find where I said I'm not concerned about the debt. We definitely cannot reduce debt if we are paying unfair tariffs to China and having our intellectual property stolen. So, should I say that you are ok with China ripping us off because you don't like Trump?

[Gunny]

Just as much as you were about getting Obama out.Incorrect. No one on the right except the usual 10%, and definitely no MSM support, tried to hound Obama out of office and didn't care how legal or fair. His first two years were spent signing unconstitutional EOs, not under investigation when by all rights, Obama should have been investigated and charged for violating the US Constitution, a document that embodies the ideals he SWORE AN OATH to protect and defend.

Look at YOU. Nothing Obama did was wrong. No lies were lies. No violations of the Constitution violations of the Constitution.
Even threw his white granny and pastor under the bus. Fine-n-dandy. We spent 8 years pointing out each indiscretion and why, which is more than you ever give us. But nobody I know of was wailing and crying and acting like spoiled children and carrying it on for over 2 years and counting.

So try the fuck again Dem-wit. You are a dishonest person and your party is the party of dishonest people. Moreso than the GOP.

[Kathianne]

However long it takes... as if it's just a waiting game. We can nearly destroy our own country, but as long as we end China, that is ok. We'll rebuild as India or Brazil take the lead for the next century. And yet you're okay with Trump adding 4 trillion to the debt and accruing record defects. Don't think your grandchilren will have to deal with that?
Are you referring to the 'bi-partisan' bill, just passed. It was the President and Democrats who basically did that.

[STTAB]

Just as much as you were about getting Obama out.

Seeings as how you weren't even around when I was here and Obama was in office, you have no idea where I stood on that. But I'll dare say no one who was here then or posted with me on USMB would say that I was intellectually dishonest in my desire to see Obama out of office the way you are about Trump.