Politics Thread

[Strange Brew]

Well, if we'd just have left the tax rates alone from 2000, instead of cutting them twice and going into 2 unfunded wars, there wouldn't be such a deficit problem. The top brackets were doing fine, as were the corporations.

Tax revenue has increased over that period. The amount of spending is the problem.

[noteggs]

Paul.

I just hate all the spending going on now especially with inflation. Things I could not stand with Trump (oops I said the T word) are J6, being an asshole, and his out of control spending.

On one hand the fed reserve is hurting the middle class with rate increases, while our fed government spending (a lot say) is contributing to the inflation problem. Obviously crushing the middle class.

Honestly, I’m a lot less concerned with the infrastructure bill than the other spending (5 trillionish) because of what you described as pivotal. But, I totally agree with what madxster posted. Of course that will never happen because that’s not how Washington operates.

Side note, why is it going to take a year to get started on brent spence? Even the Obama championed the cause in 2009. You think in the last 14 years we could have been ready on day one? Or maybe month later?

[Masterofreality]

Dow's up 10%.
I'm guessing the math check didn't work out so well, since you didn't bother mentioning it.

By the way on a further fact check on this from Barrons.
Paul lies as much as Biden does. Along with the decline in the NASDAQ, I knew my portfolio was a mess.

“
Combined, the Dow gained just 6% in Biden’s first two years as president. How does that compare? Since the start of the 20th century, the Dow posted a positive gain 65% of the time in the first half of a president’s term, according to research by Dow Jones Market Data. The average increase was about 14%.”

https://apple.news/Ar5hFbmOuRFOyHWWy9VTLKA

Exactly who’s math didn’t work out after the lie is discovered??????

[xuphan]

Tax revenue has increased over that period. The amount of spending is the problem.

100%. Creating thousands of pages in a single bill and sneaking in mandates that the government can’t afford to fund is a big issue. My work has federal government mandates that the federal government doesn’t fully fund.

[bjf123]

100%. Creating thousands of pages in a single bill and sneaking in mandates that the government can’t afford to fund is a big issue. My work has federal government mandates that the federal government doesn’t fully fund.

While it will never happen, any bill than spends a dime should have at least one name of the member of Congress who wants to spend the money for that particular bit of pork. We should know whose idea it was to spend money for a hiking trail named after someone or other such nonsense.


Sent from my iPhone using Tapatalk

[Masterofreality]

Well, if we'd just have left the tax rates alone from 2000, instead of cutting them twice and going into 2 unfunded wars, there wouldn't be such a deficit problem. The top brackets were doing fine, as were the corporations.

The lower tax rates have fueled fantastic growth and additional hiring.
3.4% unemployment now that has finally returned to 3.4% unemployment from February, 2020 just before the pandemic.
As others have said. Revenue is fine. Spending is unchecked.

[paulxu]

It's hard to argue with Barrons.
But, on Jan 20, 2021 (the day Biden was sworn into office) the Dow closed at 30,930.
Yesterday, when I posted, the Dow as at 33,926.

If I take 33,926 and subtract 30,930, I get 2,996.
When I divide 2,996 by 30,930, it looks very much like a 9.7% increase from Jan 20,2021. I said 10%.
Today the Dow closed at 34,157. That's a 10.4% increase since Biden took office.
Must be the old math I learned in grade school. Sorry.

(It was 6.8% on Jan 20, 2023...maybe that's what Barron's was referencing. My posts are of today and yesterday, obviously.
Quite a 12 day climb!)
BTW, what about your math check on the posts in this thread. How did that turn out? Crickets?

[XU_Lou]

It's hard to argue with Barrons.
But, on Jan 20, 2021 (the day Biden was sworn into office) the Dow closed at 30,930.
Yesterday, when I posted, the Dow as at 33,926.

If I take 33,926 and subtract 30,930, I get 2,996.
When I divide 2,996 by 30,930, it looks very much like a 9.7% increase from Jan 20,2021. I said 10%.
Today the Dow closed at 34,157. That's a 10.4% increase since Biden took office.
Must be the old math I learned in grade school. Sorry.

(It was 6.8% on Jan 20, 2023...maybe that's what Barron's was referencing. My posts are of today and yesterday, obviously.
Quite a 12 day climb!)
BTW, what about your math check on the posts in this thread. How did that turn out? Crickets?

oooh, wow, the Dow is up a whopping 9.7% in 2 years! Wow, you're going to hang your hat on that?

I wonder why you used the Dow, and not the broader S&P, which is a far better measure of the overall economy? Did your talking points memo from the Whitehouse tell you to use the Dow whose companies benefitted heavily from the Democrat Covid lockdowns?

The S&P, on the other hand, has only returned 7.73% in the last two years - that's less than 4% a year!! The lifetime average for the S&P is ~8.1%

Oh yea, while Trump was president, the S&P increased by 68%, or averaged 13.73% per year (Dow = 11.8% per year).

[Masterofreality]

It's hard to argue with Barrons.
But, on Jan 20, 2021 (the day Biden was sworn into office) the Dow closed at 30,930.
Yesterday, when I posted, the Dow as at 33,926.

If I take 33,926 and subtract 30,930, I get 2,996.
When I divide 2,996 by 30,930, it looks very much like a 9.7% increase from Jan 20,2021. I said 10%.
Today the Dow closed at 34,157. That's a 10.4% increase since Biden took office.
Must be the old math I learned in grade school. Sorry.

(It was 6.8% on Jan 20, 2023...maybe that's what Barron's was referencing. My posts are of today and yesterday, obviously.
Quite a 12 day climb!)
BTW, what about your math check on the posts in this thread. How did that turn out? Crickets?

Screw the Inauguration date. I used the date after the elections in my comparisons. Lame duck crap doesn’t count to me.
And ok, now you are apparently denying journalism? Join the club since we have been questioning main steam media for years but you like to pull clips that are convenient for you.
Whatever. Biden’s first 2 years are below average performance for the Dow and you conveniently ignore the fallen NASDAQ. I wonder why that is? . 60% of the country doesn’t want him to run again.
There’s your math.
Barrons is accurate. You just pull dates out of the sky to make it look better. The country is in a mess and that screaming pile of jibberish in the SOTU didn’t help last night.

[paulxu]

Screw the Inauguration date. I used the date after the elections in my comparisons. Lame duck crap doesn’t count to me.

The country is in a mess and that screaming pile of jibberish in the SOTU didn’t help last night.

Do you know the "date after the election" that you use for "your" comparisons is actually part of the "lame duck crap.?"
Maybe not. The lame duck refers to the time between the election and inauguration of a successor.

I used the information that matched the dates of my posts.
You had to go back and find something that compared to 2 weeks prior. Even Barrons was using inauguration date, and the following 2 years, as I pointed out.
So you post an article that refers to the 2 years between inauguration date and 2 years later...and yet you say you're using election date?
Make up your mind. It's like your posts about who brought up Trump. You can't admit you made a mistake.

Your are correct about the jibberish during the SOTU address last night. If I was a Republican I'd be embarrassed at the lack of civility.
Even the leader of the House couldn't get them to stop the childish outbursts.