26 May 18
Originally posted by @mott-the-hoopleFunny, it was workers who were supposed to benefit by the big corporate tax cuts.
https://www.foxbusiness.com/markets/trump-tax-cut-surge-sp-500-companies-return-1t-to-shareholders
But everybody with half a brain knew that was BS:
But a new analysis of all Fortune 500 companies found only 4.3 percent of workers will receive a one-time bonus or wage increase tied to the business tax cuts, while businesses received nine times more in cuts than what they passed on to their workers, according to Americans for Tax Fairness, a political advocacy group devoted to tax reform. The analysis also found that companies spent 37 times as much on stock buybacks than they did on bonuses and increased wages for workers.
http://www.newsweek.com/republican-tax-cuts-trump-wage-increases-879800
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26 May 18
Originally posted by @mott-the-hoopleLet's get real. Economies don't change overnight. Trump is just gravy-training on the policies set forth by Obama. The damage Trump is doing now... will be the next Democratic President's mess to clean up.
https://www.foxbusiness.com/markets/trump-tax-cut-surge-sp-500-companies-return-1t-to-shareholders
It happens every time: Republicans do the talking....Democrats do the walking.
26 May 18
Originally posted by @mott-the-hoopleFunny how the rich getting richer is the criteria for a good economy while the poor are still earning a pathetic wage. When wages rise I will be convinced the unemployment rate is as low as our government claims it is.
https://www.foxbusiness.com/markets/trump-tax-cut-surge-sp-500-companies-return-1t-to-shareholders
Remember when Trump pointed out that the unemployment rate was wrong (while Obama was president) because of discouraged people that gave up looking for work? He was right, but now that he is in office that has not changed. He simply has no incentive to point it out while he is president.
Originally posted by @kazetnagorraIt really isn't. Aside from having the world's overall largest economy (by far), America's per capita GDP is the best in the world if you exclude city states. The only macro-nations who can beat America's gdp per capita of 60000$ are Ireland (whose gdp figures are grossly inflated by the amount of American money that merely passes through Ireland into the EU for tax purposes but is not a reflection of Ireland's wealth, which is still poorer than Britain) and Norway (country of 5 million with a large area by European standards with massive oil and gas reserves as well as fish and GDP is still only 70000$, a mere 10000 more than America's.)
The United States' economy is still far behind the wealthiest economies, and this difference is only increasing.
On top of this, the U.S economy grows at a rate that almost all developed economies (W Europe, Japan, S Korea, Taiwan, Oceania) can only dream of so I'm not sure how it can be said that they're closing the gap on America. They're not.
26 May 18
Originally posted by @ashiitakaCan you provide links for all these numbers?
It really isn't. Aside from having the world's overall largest economy (by far), America's per capita GDP is the best in the world if you exclude city states. The only macro-nations who can beat America's gdp per capita of 60000$ are Ireland (whose gdp figures are grossly inflated by the amount of American money that merely passes through Ireland into the ...[text shortened]... ream of so I'm not sure how it can be said that they're closing the gap on America. They're not.
Thanks.
26 May 18
Originally posted by @ashiitakaFor one, I never said I was talking about GDP per capita, I was speaking of the standard of living.
It really isn't. Aside from having the world's overall largest economy (by far), America's per capita GDP is the best in the world if you exclude city states. The only macro-nations who can beat America's gdp per capita of 60000$ are Ireland (whose gdp figures are grossly inflated by the amount of American money that merely passes through Ireland into the ...[text shortened]... ream of so I'm not sure how it can be said that they're closing the gap on America. They're not.
Secondly, you're flat-out wrong unless you think Norway and Switzerland are "city states."
If you compare today's Norway to that of 30 years ago, and today's United States to that of 30 years ago, which society has made greater leaps in terms of how well off its citizens are?
Originally posted by @kazetnagorraFor one, I never said I was talking about GDP per capita, I was speaking of the standard of living.
For one, I never said I was talking about GDP per capita, I was speaking of the standard of living.
Secondly, you're flat-out wrong unless you think Norway and Switzerland are "city states."
If you compare today's Norway to that of 30 years ago, and today's United States to that of 30 years ago, which society has made greater leaps in terms of how well off its citizens are?
Actually, the exact word you used was "wealth". Wealth is money, not standard of living. Your persistent misunderstanding of "standard of living" and what it means for an economy is quite beyond the pale.
Secondly, you're flat-out wrong unless you think Norway and Switzerland are "city states."
I specifically said that Norway is a macro nation. "Macro" means "big" in English. I also explained that Norway's high GDP per capita can easily be explained by massive oil reserves (which makes much of the middle east, Brunei and equatorial guinea have high GDPs). This phenomenon of GDP inflation because of oil is not unique to Norway. Also, the only reason Switzerland has any money is because they just kept all the assets of Jews who entrusted Switzerland with their money's safekeeping and then were subsequently murdered in the Holocaust.
If you compare today's Norway to that of 30 years ago, and today's United States to that of 30 years ago, which society has made greater leaps in terms of how well off its citizens are?
If you compare the U.S with India over the past 30 years, then it's obvious India has seen a larger proportional increase in the living standards of its people. However, in economics it's far easier to grow a developing economy than it is to grow a developed one. To say that India has somehow done better than America would be ignorant. America's already rich and powerful and thus of course it develops proportionally slower than a poor country like India. America's GDP of 19 trillion USD dwarfs India's of 2 trillion, despite the fact that India has nearly 4 times more people. Of course comparative living standards will rise faster in India. You can't compare countries with a different base in economics.
Like I said, Norway is very large for how many people live there (it's 1.5 times bigger than the UK with only 5 million people compared to the UK's 65 million) and the country has vast reserves of oil, gas, fish and forestry. If she didn't have a high GDP (still only 1/6th higher than America's) I would hold her in no regard.
Originally posted by @lundosYou and KN are always trying to pass the burden of proof onto me regarding even the most simple of economic realities. I don't have time to waste giving you a basic education - go ask Google what the GDP per capita of Norway is.
Can you provide links for all these numbers?
Thanks.
Originally posted by @ashiitakaOnly because you tend either communicate in a difficult maner or your claims aren't exactly reality.
You and KN are always trying to pass the burden of proof onto me regarding even the most simple of economic realities. I don't have time to waste giving you a basic education - go ask Google what the GDP per capita of Norway is.
Btw. Macro means aggregated in economic terms.
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26 May 18
Originally posted by @ashiitakaPer capita GDP is irrelevant to most people. It's the mean of income, but what's relevant to most people is the mode. Sure, if you average the income of everybody in the USA you get a large number, but that includes the few multigazillionaires who hike up the total as well as the many millions who live in dread of a medical bill. This difference is much larger in the USA than in most other Western countries. The wealth of the country as a whole may be high, but the wealth of most of its inhabitants isn't.
It really isn't. Aside from having the world's overall largest economy (by far), America's per capita GDP is the best in the world if you exclude city states.
26 May 18
Originally posted by @ashiitakaI am well aware that Norway's vast oil reserves inflate its GDP per capita. Your claim that Switzerland's economy is strongly driven by riches stolen from the Jews is of course ludicrous and doesn't merit a rebuttal more elaborate than a scoff.
[b]For one, I never said I was talking about GDP per capita, I was speaking of the standard of living.
Actually, the exact word you used was "wealth". Wealth is money, not standard of living. Your persistent misunderstanding of "standard of living" and what it means for an economy is quite beyond the pale.
Secondly, you're flat-out wrong unl ...[text shortened]... e didn't have a high GDP (still only 1/6th higher than America's) I would hold her in no regard.
Norway has a significantly higher GDP per capita than Sweden or Denmark, but a comparable standard of living. This standard of living (i.e. the strength of their economies) is higher than in the U.S., for instance because health care is better, education is better, crime is lower, road safety is better, public transport is better, housing is better, corruption is lower, trust in government is higher, public utilities are better, the legal system is better, overall public services are better, trust in fellow citizens is higher, data infrastructure is better, media are more independent, etc. etc. (sixpacks of beer are significantly cheaper in the U.S. though)
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26 May 18
Originally posted by @mott-the-hoopleHe's made a tremendous difference in our economy because of his savvy business skills.
https://www.foxbusiness.com/markets/trump-tax-cut-surge-sp-500-companies-return-1t-to-shareholders
He is truly on his way in making America great again.
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Originally posted by @no1marauder"The new withholding amounts hit Americans' paychecks around February 1, and the IRS says that about 90% of workers saw an increase in their take-home pay."
Funny, it was workers who were supposed to benefit by the big corporate tax cuts.
But everybody with half a brain knew that was BS:
But a new analysis of all Fortune 500 companies found only 4.3 percent of workers will receive a one-time bonus or wage increase tied to the business tax cuts, while businesses received nine times more in cuts than wh ...[text shortened]... ages for workers.
http://www.newsweek.com/republican-tax-cuts-trump-wage-increases-879800[/b]
this does not include the added deductions at end of year....Democrats are against this.
http://www.businessinsider.com/trump-tax-law-paycheck-calculator-every-income-level-2018-3
seems you are caught in another lie!