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@suzianne saidInflation is set by money supply, end of story.
Inflation does not start with government. It starts with corporations increasing their profit margins by raping the consumer with higher prices.
If an economy has $10 in it, and there are 10 coconuts then a coconut is worth $1, along comes goobermint or the fed (ahhh but I repeat myself) and majics up another $10, coconuts are now $2 each, and your dollar is worth half what it was. Inflation is a tax on every dollar currently existing in an economy.
That's what it is, and if you want to know the 'why it is', find who spends the money first at yesterdays value.
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@averagejoe1 saidHey dummy that’s the unknown that we are debating, jeez you is stupid.
I was unfortunately relegated to stopping the reading of this post after the first 15 words, because you mention that pesky phrase 'Fair Share'. I would not have been able to respond to an unknown, so had to pass.
Biden has placed the % rate of 21 to 25, I should put it about 50, I’m guessing you would have at 0 so us mugs can pay all the taxes whilst the B of D and share holders can drink better Champaign and sail in bigger yacht’s 🙄
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@wajoma saidLike I told your pal AvJoe, you cannot argue effectively with a flawed given.
Inflation is set by money supply, end of story.
If an economy has $10 in it, and there are 10 coconuts then a coconut is worth $1, along comes goobermint or the fed (ahhh but I repeat myself) and majics up another $10, coconuts are now $2 each, and your dollar is worth half what it was. Inflation is a tax on every dollar currently existing in an economy.
That's what it is, and if you want to know the 'why it is', find who spends the money first at yesterdays value.
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@suzianne saidThat is precisely what drives inflation, an over supply of money. Who get's to spend the money first spends it at yesterdays value, those that get to spend it last i.e. the poor and middle class find their dollar isn't worth what it once was. I'm trying to dumb it down for you, you dumb Kant.
Like I told your pal AvJoe, you cannot argue effectively with a flawed given.
@earl-of-trumps saidIt was 35% before the Trump tax cut.
Biden To Push Higher Corporate Tax In Key Political Speech
The proposals Biden is pushing for include a higher corporate tax rate of 28 percent and a corporate minimum tax of 21 percent, according to the White House.
These are part of a broader plan to lower the federal deficit by trillions of dollars,
and are to be accompanied by tax cuts for low ...[text shortened]... have many EV companies.
That's because of a relatively low corporate tax rate.
let's hear it
The corporate tax rate is only paid by big companies who are profitable after salaries and expenses. Small companies use pass-through forms like LLCs and marginally profitable C corporations can increase salaries to avoid the corporate tax.
The only thing that raising the corporate tax rate hurts is the stock market... which is something, but it's not something I'm going to get overly worked up about.
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@no1marauder saidCongress overspends more that a trillion every year Earl. Something's gotta give, either on spending or taxes.
Steve Jobs' present opinions are unknown but Bill Gates' are:
"Bill Gates, a prominent figure in global philanthropy, has long championed the idea of taxing the super-wealthy more heavily. In a significant move, some of the world's most affluent individuals, led by Microsoft co-founder Bill Gates, advocate for higher taxes on the ultra-rich. This call for fiscal reform ...[text shortened]... uals join the movement for change."
https://marketrealist.com/what-is-proud-to-pay-more-campaign/
The funny thing is, nobody in politics is in favor of cutting anything that would dent that number ($1.5 trillion). So taxes gotta go up.
@no1marauder saidI'm too lazy to research this now, but how much money would we raise by:
Steve Jobs' present opinions are unknown but Bill Gates' are:
"Bill Gates, a prominent figure in global philanthropy, has long championed the idea of taxing the super-wealthy more heavily. In a significant move, some of the world's most affluent individuals, led by Microsoft co-founder Bill Gates, advocate for higher taxes on the ultra-rich. This call for fiscal reform ...[text shortened]... uals join the movement for change."
https://marketrealist.com/what-is-proud-to-pay-more-campaign/
1. Increasing the corporate tax rates to 28%
2. Treating capital gains as ordinary income
3. Treating inheritances (and gifts beyond, say, 100k/yr) as income
4. Dropping the social security tax cap
?
Look, folks, I'm a fiscal conservative. I really am. But if we're gonna spend it, we have to also bring it in.
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@sh76 saidLook, folks, I'm a fiscal conservative. I really am. But if we're gonna spend it, we have to also bring it in.
I'm too lazy to research this now, but how much money would we raise by:
1. Increasing the corporate tax rates to 28%
2. Treating capital gains as ordinary income
3. Treating inheritances (and gifts beyond, say, 100k/yr) as income
4. Dropping the social security tax cap
?
Look, folks, I'm a fiscal conservative. I really am. But if we're gonna spend it, we have to also bring it in.
Is anyone here listening?
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@Suzianne
Y'all can say all these lies!!!(sorry, sue, you are the lie person),,,but allow me to keep us on the straight and narrow. All you libs are way off base. NO INFLATION WAS ON TRUMP'S WATCH!
Trump inherited a solid economy from President Obama, and the good times continued into 2020. Compared with today, there was no inflation to speak of. Voters who think their paychecks went further under Trump are generally right.
THAT is it. Since it is a fact, why bother showing a source. Oh well, here it is.
https://finance.yahoo.com/news/why-americans-pine-for-the-trump-economy-193757815.html
We are killing you non-deep thinkers. Of course, Sue has it all right!! Right?!?!?!?
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@wajoma saidThat is a very simplistic model of inflation. Inflation can also be caused by decreased production of coconuts for example or an increased population.
Inflation is set by money supply, end of story.
If an economy has $10 in it, and there are 10 coconuts then a coconut is worth $1, along comes goobermint or the fed (ahhh but I repeat myself) and majics up another $10, coconuts are now $2 each, and your dollar is worth half what it was. Inflation is a tax on every dollar currently existing in an economy.
That's what it is, and if you want to know the 'why it is', find who spends the money first at yesterdays value.
@athousandyoung saidI have to explain it in a very simple fashion for suziman.
That is a very simplistic model of inflation. Inflation can also be caused by decreased production of coconuts for example or an increased population.
Agreed, it can be caused by having less 'things' of value in an economy but the money supply remains at a level. Do you believe that is the main driver of inflation?
Or if there is destruction of 'things' of value.
It has nothing to do with pop size.