Essential Economics for Politicians

QUOTE="messy, post: 278824, member: 3299"

I make much more in passive income every year than you do from your job.
Stocks, bonds and rent.
Tell me what else you know about money that I don't, fool.


/QUOTE

Hey Braggart.....
Tell us all about Atlantic City Casino failures.....
You might want to do some research before responding...
 
Booter said:
The federal corporate income tax rates were the highest in US history when the unemployment rates were the lowest in US history.
From 1951, when the top marginal corporate income tax rate rose from 42% to 50.75%, to 1969, when rates peaked at 52.8%, the unemployment rate moved from 3.3% to 3.5%. From 1986 to 2011, when the top marginal corporate income tax rate declined from 46% to 35%, the unemployment rate increased from 7% to 8.9%
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Speaking of picking fruit, we harvested about 3 1/2 tons of Sangiovese last week and destemmed them in preparation for fermentation. The Syrah in the steel vat is still too sweet but promising nonetheless. The tempranillo and grenache are almost at zero. Picked Falanghina yesterday. I see some medals coming out of this harvest.
 
New York State Drew Up a Tax to Punish Opioid Makers—But Found Some Unanticipated Side Effects
By
Anastassia Gliadkovskaya
September 16, 2019

https://fortune.com/2019/09/16/new-...T5mODw86TQwyR452jm1MH9oxMcDtO_7DwioG2KYh4fZdA

Earlier this summer, New York became the first state to place an excise tax on opioids sold to or within the state. Backers expect the tax to generate $100 million in revenue for the state, which Gov. Andrew Cuomo and his administration have said will be plowed into helping victims of the opioid crisis.

The idea was to punish pharmaceutical companies for their role in the opioid epidemic: Pay a tax on opioids you sell to the state, and we'll use that money to fund treatment and recovery programs. Sounds simple. But the reality has been much more complicated. The tax, which went into effect July 1, has already set off a ripple effect across the entire supply chain, as manufacturers and distributors have either stopped shipping to the state altogether or passed the tax onto each other. The law allows the cost to be passed on further, to pharmacies and even consumers.

And then there are the feared social costs. Health officials worry the tax could drive patients to seek out opioids on the black market.


New York's experiment is both a cautionary tale for other states—and a look at how difficult it is to make drugmakers pay for fueling the opioid crisis.
 
Bruddah IZ said:
Speaking of picking fruit, we harvested about 3 1/2 tons of Sangiovese last week and destemmed them in preparation for fermentation. The Syrah in the steel vat is still too sweet but promising nonetheless. The tempranillo and grenache are almost at zero. Picked Falanghina yesterday. I see some medals coming out of this harvest.
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Too sweet you say? How about some Port?
 
Bruddah IZ said:
Speaking of picking fruit, we harvested about 3 1/2 tons of Sangiovese last week and destemmed them in preparation for fermentation. The Syrah in the steel vat is still too sweet but promising nonetheless. The tempranillo and grenache are almost at zero. Picked Falanghina yesterday. I see some medals coming out of this harvest.
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I had no idea you were a wine mavin.
 
The leading explanation for why trucking is in a slump goes back to that central tenet of economics: supply and demand.

Larger economic trends — like increased factory, retail, or construction activity — push up the demand for truck drivers. There's just more stuff to drive around, and you need people and trucks to move them. The supply comes from how many trucks and truck drivers are available.

When demand is high, trucking companies tend to buy lots of trucks and hire new drivers in anticipation of profits to come. But then, once the supply of trucks and truckers catches up to demand, rates fall, making that investment hard to pay off.

https://www.businessinsider.com/why...ing-off-from-a-massive-uptick-in-the-market-1
 
Bruddah IZ said:
I'm not. Far from. But learned a lot over the last two years. You should come out to Highland Valley one weekend. I'll give you a tour and a tasting. Although my cart runs on fossil fuel. Hope that's not a problem?
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I think it should be ok, but maybe we should run it by my handler first.
upload_2019-10-6_8-48-11.png
 
The 2019 federal deficit is almost $1 trillion. No one seems to care.

Earlier this week, the Congressional Budget Office announced that the federal deficit for this past fiscal year was $984 billion, the highest that it's been in seven years.

In years past, that announcement would have been met with outrage by Republicans -- and even some Democrats. We are mortgaging our children's future! We are on an unsustainable path! We need to start tightening our belts!

Today? Barely a peep.

That change is indicative of how radically President Donald Trump has reshaped the Republican Party in his own image since he seized it in a hostile takeover in 2016. Trump has never evinced any real interest in shrinking the deficit -- and the underlying national debt it feeds -- beyond some platitudes offered to fiscal conservatives during the campaign.

"We're not a rich country. We're a debtor nation ... We've got to get rid of the $19 trillion in debt," Trump told The Washington Post. "I think I could do it fairly quickly. ... I would say over a period of eight years."
But Trump has put a series of policies in place -- most notably the tax cut law -- that have ballooned the debt to more than $22 trillion in just the last three years alone. And he has done so with no real focus on (or care for) what the ballooning debt means for our overall financial health. And without once fiscally hawkish Republicans in Congress saying much of anything.

https://www.cnn.com/2019/10/09/politics/budget-deficit-trump/index.html
 
Booter said:
The 2019 federal deficit is almost $1 trillion. No one seems to care.

Earlier this week, the Congressional Budget Office announced that the federal deficit for this past fiscal year was $984 billion, the highest that it's been in seven years.

In years past, that announcement would have been met with outrage by Republicans -- and even some Democrats. We are mortgaging our children's future! We are on an unsustainable path! We need to start tightening our belts!

Today? Barely a peep.

That change is indicative of how radically President Donald Trump has reshaped the Republican Party in his own image since he seized it in a hostile takeover in 2016. Trump has never evinced any real interest in shrinking the deficit -- and the underlying national debt it feeds -- beyond some platitudes offered to fiscal conservatives during the campaign.

"We're not a rich country. We're a debtor nation ... We've got to get rid of the $19 trillion in debt," Trump told The Washington Post. "I think I could do it fairly quickly. ... I would say over a period of eight years."
But Trump has put a series of policies in place -- most notably the tax cut law -- that have ballooned the debt to more than $22 trillion in just the last three years alone. And he has done so with no real focus on (or care for) what the ballooning debt means for our overall financial health. And without once fiscally hawkish Republicans in Congress saying much of anything.

https://www.cnn.com/2019/10/09/politics/budget-deficit-trump/index.html
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dunce.jpg


Into the corner you go....
 
Booter said:
The 2019 federal deficit is almost $1 trillion. No one seems to care.

Earlier this week, the Congressional Budget Office announced that the federal deficit for this past fiscal year was $984 billion, the highest that it's been in seven years.

In years past, that announcement would have been met with outrage by Republicans -- and even some Democrats. We are mortgaging our children's future! We are on an unsustainable path! We need to start tightening our belts!

Today? Barely a peep.

That change is indicative of how radically President Donald Trump has reshaped the Republican Party in his own image since he seized it in a hostile takeover in 2016. Trump has never evinced any real interest in shrinking the deficit -- and the underlying national debt it feeds -- beyond some platitudes offered to fiscal conservatives during the campaign.

"We're not a rich country. We're a debtor nation ... We've got to get rid of the $19 trillion in debt," Trump told The Washington Post. "I think I could do it fairly quickly. ... I would say over a period of eight years."
But Trump has put a series of policies in place -- most notably the tax cut law -- that have ballooned the debt to more than $22 trillion in just the last three years alone. And he has done so with no real focus on (or care for) what the ballooning debt means for our overall financial health. And without once fiscally hawkish Republicans in Congress saying much of anything.

https://www.cnn.com/2019/10/09/politics/budget-deficit-trump/index.html
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After 6 straight years of QE under Obama that averaged a trillion in deficits for 8 years, why would anyone care?
 

Bruddah IZ said:
After 6 straight years of QE under Obama that averaged a trillion in deficits for 8 years, why would anyone care?
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When you take into account the Great Recession, making W. Bush’s temporary tax cuts permanent, increased Social Security and Medicare spending as more Baby Boomers retire and become 65 years old and the Afghanistan and Iraq wars he inherited the story is quite different. President Obama’s debt actually grew at a slower annual rate than any of the Republican presidents even though there were events that negatively impacted the deficit that started before he became President. The Great Recession is probably the biggest of them as can be seen in the yearly deficit numbers.

One important difference between Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis.

Izzy, asking why anyone would care about the massive national debt might be one of the dumbest things you have ever stated here. You might want to retake that online Economics 99 class.
 
Booter said:


When you take into account the Great Recession, making W. Bush’s temporary tax cuts permanent, increased Social Security and Medicare spending as more Baby Boomers retire and become 65 years old and the Afghanistan and Iraq wars he inherited the story is quite different. President Obama’s debt actually grew at a slower annual rate than any of the Republican presidents even though there were events that negatively impacted the deficit that started before he became President. The Great Recession is probably the biggest of them as can be seen in the yearly deficit numbers.

One important difference between Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis.

Izzy, asking why anyone would care about the massive national debt might be one of the dumbest things you have ever stated here. You might want to retake that online Economics 99 class.
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You have no idea what yur talking about....and it " Shows ".....!
 
Booter said:


When you take into account the Great Recession, making W. Bush’s temporary tax cuts permanent, increased Social Security and Medicare spending as more Baby Boomers retire and become 65 years old and the Afghanistan and Iraq wars he inherited the story is quite different. President Obama’s debt actually grew at a slower annual rate than any of the Republican presidents even though there were events that negatively impacted the deficit that started before he became President. The Great Recession is probably the biggest of them as can be seen in the yearly deficit numbers.

One important difference between Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis.

Izzy, asking why anyone would care about the massive national debt might be one of the dumbest things you have ever stated here. You might want to retake that online Economics 99 class.
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Glad you care about debt. Anyone else? Except for messy that is.
 
Trump promised to eliminate the national debt. It has risen by $3 trillion

Despite Mr. Trump’s campaign boasts about wiping out the debt, as president he has adopted an instant-gratification mentality. In addition to backing a $1.5 trillion tax cut without offsetting reductions in spending, Mr. Trump has pushed for increased military spending and has opposed any serious reforms to entitlements. He signed a spending bill that crashed through the limits put in place by the 2011 debt ceiling deal, which was the crowning achievement of the Tea Party.
In some senses, the Trump era is emblematic of a long-running tendency of Republicans to rail against spending during Democratic administrations only to abandon fiscal restraint when one of their own is in power. Even still, Mr. Trump’s ascendance points to a broader shift on the right. Republicans are increasingly dependent on older voters to win elections, who in turn don’t want to see changes to Social Security and Medicare.
 
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