Bidenomics
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wrote on 17 Feb 2024, 12:54 last edited by
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wrote on 17 Feb 2024, 16:35 last edited by
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wrote on 25 Mar 2024, 17:45 last edited by
Biden is a net tax cutter:
President Biden has called for $5 trillion in new taxes on corporations and high earners. But his record so far is as a net tax cutter.
The math is straightforward. ... the tax cuts Mr. Biden has signed for individuals and corporations are larger than the tax increases he has imposed on big corporations and their shareholders.
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wrote on 27 Mar 2024, 14:39 last edited by
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wrote on 27 Mar 2024, 14:52 last edited by
@George-K said in Bidenomics:
The cost of making popcorn:
I’d suggest that he hire somebody to handle both his sourcing of ingredients and his accounting.
Prices are up, but they aren’t up as high as he’s saying.
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wrote on 27 Mar 2024, 15:01 last edited by
In January 2021, butter was $3.66 a pound. He was paying $1.80/lb.
Now, butter is $4.63/lb - and that's what he's paying.
For sugar, in Jan 2021, the cost was 68¢/lb. He was paying 46¢/lb.
Sugar now is 98¢/lb. He's paying $1.01.
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wrote on 27 Mar 2024, 15:07 last edited by
These guys don't shop at Piggly Wiggly.
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wrote on 27 Mar 2024, 15:14 last edited by
@Jolly said in Bidenomics:
These guys don't shop at Piggly Wiggly.
Right. But he’s manipulating the numbers. He’s showing his wholesale cost in 21, and retail in 24. That’s not just fudging the numbers, that’s outright fraud. Letitia James would like to have a conversation with him…
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wrote on 27 Mar 2024, 15:19 last edited by
I'll take your word for it. I don't know enough to accurately quote those costs.
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wrote on 27 Mar 2024, 15:31 last edited by
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wrote on 27 Mar 2024, 15:41 last edited by
The bitch of it is, it’s an unforced error and unneeded lie to make his point. It’s a 27% increase in butter. For the sake of this argument, let’s say that’s a universal increase on all materials. That doesn’t translate into only a 27% increase in his product price. With inflation, he’s also having to raise his wages, and to match that inflation, he has needed to raise his wages by the 20% per hour. Now I have no idea his volume and the labor costs involved per unit for his product, but you could easily see that being another 5%-7%. In addition, and this gets missed by most, if the company’s output volume stays the same and the costs have all increased dramatically, then the company must increase their profit margin to simply maintain.
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wrote on 29 Mar 2024, 11:36 last edited by
Krugman:
Bidenomics Is Making China Angry. That’s OK.
https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html
Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.
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wrote on 29 Mar 2024, 11:51 last edited by
Why people don't feel good about the economy, from the WSJ:
Link to video -
wrote on 29 Mar 2024, 14:42 last edited by
I watched most of it but didn't hear any mention about the job market.
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Krugman:
Bidenomics Is Making China Angry. That’s OK.
https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html
Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.
wrote on 30 Mar 2024, 16:16 last edited by@Axtremus said in Bidenomics:
Krugman:
Bidenomics Is Making China Angry. That’s OK.
https://www.nytimes.com/2024/03/28/opinion/biden-trump-china.html
Trump made a big show of taking on China, but he was ineffective when in office and appears to have folded on TikTok when donor money was at stake. Biden talks more softly but is wielding a really big stick. Or to put it another way, Trump isn’t actually a tough guy on China; he just plays one on TV. Biden is the real deal.
Snort. He should get a job writing for SNL.
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wrote on 2 Apr 2024, 00:01 last edited by
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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wrote on 2 Apr 2024, 00:04 last edited by
@George-K said in Bidenomics:
Remember the article by Summers et al?
I'm so old that I can remember when Millennials bitched about this very phenomenon 15 years ago, and boomers told them to stop whining because it didn't fit their narrative at the time.
This exact issue.
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@George-K said in Bidenomics:
Remember the article by Summers et al?
I'm so old that I can remember when Millennials bitched about this very phenomenon 15 years ago, and boomers told them to stop whining because it didn't fit their narrative at the time.
This exact issue.
wrote on 2 Apr 2024, 00:06 last edited by@Aqua-Letifer said in Bidenomics:
This exact issue.
We bought our first house in 1980. 13.25% mortgage on a $75K note. I wonder how the statistics of this tweet would compare to that.
(too lazy to look it up)
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wrote on 2 Apr 2024, 00:06 last edited by
You're not a man until you pay 16.5% interest.
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wrote on 2 Apr 2024, 00:07 last edited by
@Copper said in Bidenomics:
You're not a man until you pay 16.5% interest.
Yeah, that's true. My 1986 adjustable had that - actually 17.4% irrc.
