The National Debt, Do You Worry About It?

[Wally]

Will Biden's 40% corporate tax help or hinder?

Biden Wants To Raise The Minimum Corporate Tax Rate By A Whopping 40%

During President Biden’s State of the Union, he will unveil his plan to raise the minimum corporate tax by a whopping 40% as well as implement a tax on the rich that would be at least 25%. Biden would raise the corporate tax rate to 28% and the corporate minimum tax to 21%. Currently, the...

www.dailywire.com

 

[Over70irregs]

Will Biden's 40% corporate tax help or hinder?

Biden Wants To Raise The Minimum Corporate Tax Rate By A Whopping 40%

During President Biden’s State of the Union, he will unveil his plan to raise the minimum corporate tax by a whopping 40% as well as implement a tax on the rich that would be at least 25%. Biden would raise the corporate tax rate to 28% and the corporate minimum tax to 21%. Currently, the...

www.dailywire.com

I want him to go on vacation. Maybe play some golf and concentrate on being the best he can be.

 

[Over70irregs]

Nope

 

[Wally]

Blame on both sides here. Nobody cares...

Watchdog: Biden's 2025 budget would drive national debt to $45 trillion in 10 years, 106% of GDP

A budget watchdog group says the "projected growth in debt and deficits under the president's budget is driven by a persistent gap between spending and revenue." Meanwhile, progressive groups laud the budget.

justthenews.com

 

[fishtm2001]

Blame on both sides here. Nobody cares...

Watchdog: Biden's 2025 budget would drive national debt to $45 trillion in 10 years, 106% of GDP

A budget watchdog group says the "projected growth in debt and deficits under the president's budget is driven by a persistent gap between spending and revenue." Meanwhile, progressive groups laud the budget.

justthenews.com

Just The News – Bias and Credibility

QUESTIONABLE SOURCE A questionable source exhibits one or more of the following: extreme bias, consistent promotion of propaganda/conspiracies, poor or no

mediabiasfactcheck.com

nothing from Breitbart?

 

[fishtm2001]

Blame on both sides here. Nobody cares...

Watchdog: Biden's 2025 budget would drive national debt to $45 trillion in 10 years, 106% of GDP

A budget watchdog group says the "projected growth in debt and deficits under the president's budget is driven by a persistent gap between spending and revenue." Meanwhile, progressive groups laud the budget.

justthenews.com

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

 

[Wally]

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

Trouble is, any cut will immediately be starving children or pushing Gammy off a cliff. Cannot tax your way out of this problem either.

 

[Wally]

Just mention cutting possible waste and Dems immediately start the Medi-Scare. They are inventing stories, never did he propose cutting social security.

What Trump Did to his Financial Fortune, he now wants to Do to Social Security -- "Lots of Cutting"

— The more Trump tries to make himself relevant again — by calling-in to Business News shows — the more he shows how much he is NOT really up to the job. Trump floats 'cutting' retirement spending, drawing quick pushback from Biden www.nbcnews.com —...

www.dailykos.com

 

[Next Day Err]

i know what you mean to say, but the price increase in-and-of-itself is not inflation

inflation is increasing the money supply, the price increases are the (inevitable and inescapable) result

Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)

 

[Over70irregs]

Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)

Being the reserve currency comes with “responsibilities “.

 

[vantexan]

Since the increase in the money supply (M1, M2 and M3) can cause inflation but is not the only possible cause of inflation, defining inflation as merely the increase in the overall money supply isn’t as accurate as defining “inflation” as “the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.” (IMF definition)

Injecting $2 trillion in stimulus into the money supply will, and did, result in inflation. Biden was warned not to do it but he did anyways.

 

[Next Day Err]

Being the reserve currency comes with “responsibilities “.

I don’t disagree with that.

 

[Next Day Err]

Injecting $2 trillion in stimulus into the money supply will, and did, result in inflation. Biden was warned not to do it but he did anyways.

We’ve had a long history of doing too little in terms of response to economic shocks. This time was an overshoot. Keep in mind we’re a $27 trillion economy, and the ARP ($1.9 trillion) was a one time shot amidst a crisis. Not sure it’s totally responsible for 100% of the cycle of inflation we’ve had. Also we should note that Trump signed the CARES Act which was $2.2 trillion.

Not everything economics related has to be political. It’s a big topic.

 

[vantexan]

We’ve had a long history of doing too little in terms of response to economic shocks. This time was an overshoot. Keep in mind we’re a $27 trillion economy, and the ARP ($1.9 trillion) was a one time shot amidst a crisis. Not sure it’s totally responsible for 100% of the cycle of inflation we’ve had. Also we should note that Trump signed the CARES Act which was $2.2 trillion.

Not everything economics related has to be political. It’s a big topic.

You'll have to argue with top economists like Larry Summers who warned the administration not to do it. It was unnecessary and ended up being the major catalyst behind the inflation surge. It's not political, it's hammering everyone. Especially those on fixed incomes.

 

[Next Day Err]

You'll have to argue with top economists like Larry Summers who warned the administration not to do it. It was unnecessary and ended up being the major catalyst behind the inflation surge. It's not political, it's hammering everyone. Especially those on fixed incomes.

Larry Summers isn’t all knowing. He got the housing crash of financial crisis of 2008 wrong. He was just right about this.

 

[vantexan]

Larry Summers isn’t all knowing. He got the housing crash of financial crisis of 2008 wrong. He was just right about this.

But he was right. And generally recognized as one of the country's best economists. And just about everyone got 2008 wrong. What he and I've read others told the administration was just basic economics. If it's a major law of economics that inflating the money supply causes price inflation then if you have some sense you listen to the experts.

 

[Next Day Err]

But he was right. And generally recognized as one of the country's best economists. And just about everyone got 2008 wrong. What he and I've read others told the administration was just basic economics. If it's a major law of economics that inflating the money supply causes price inflation then if you have some sense you listen to the experts.

We had been inflating the money supply like crazy since ‘08 with very little inflation.

 

[vantexan]

We had been inflating the money supply like crazy since ‘08 with very little inflation.

No, we were printing money to cover our debt payments. Not the same as putting $2 trillion in stimulus payments into the public's hands.

 

[Next Day Err]

No, we were printing money to cover our debt payments. Not the same as putting $2 trillion in stimulus payments into the public's hands.

Wow. So printing money now to cover our debt payments aren’t a negative thing?

 

[Gotta Go]

Over here too...

https://twitter.com/i/web/status/1767592248449929607