Debates
15 Aug 21
For 4 years under Trump, wages always exceeded inflation. Too bad that Biden and he can't get along, Biden could make a new cabinet position and put Trump on it to solve this problem. Trump is a businessman, Biden is not CLOSE to being a businessman. Who thinks that a politician can get a handle on running a country, having had no experience in running a company? Biden did, of course, earn millions of dollars somewhere.....we just don't know where!
@averagejoe1 saidTrump is partly to blame. The stimulus bill congress passed and Trump signed into law in 2020 contributed to the increase in money supply. The Fed Reserve created the money from nothing. Wasn't the first stimulus over 3 trillion?
For 4 years under Trump, wages always exceeded inflation. Too bad that Biden and he can't get along, Biden could make a new cabinet position and put Trump on it to solve this problem. Trump is a businessman, Biden is not CLOSE to being a businessman. Who thinks that a politician can get a handle on running a country, having had no experience in running a company? Biden did, of course, earn millions of dollars somewhere.....we just don't know where!
Both Trump and Biden created this inflation. You will have to crunch the numbers to know who is mostly to blame. It might be Trump, but all of congress is to blame too.
- Joined
- 05 Nov 06
- Moves
- 147485
15 Aug 21
@metal-brain saidTrump was forced to sign the bill...
Trump is partly to blame. The stimulus bill congress passed and Trump signed into law in 2020 contributed to the increase in money supply. The Fed Reserve created the money from nothing. Wasn't the first stimulus over 3 trillion?
Both Trump and Biden created this inflation. You will have to crunch the numbers to know who is mostly to blame. It might be Trump, but all of congress is to blame too.
https://www.politico.com/news/2020/12/27/congress-stimulus-deal-450380
@mott-the-hoople saidWhat? The super alpha male Trump forced to sign a bill by Nancy Pelosi?
Trump was forced to sign the bill...
https://www.politico.com/news/2020/12/27/congress-stimulus-deal-450380
- Joined
- 05 Nov 06
- Moves
- 147485
15 Aug 21
@no1marauder saidsign it or let the people go hungry...pelosi was willing to do that.
What? The super alpha male Trump forced to sign a bill by Nancy Pelosi?
- Joined
- 05 Nov 06
- Moves
- 147485
15 Aug 21
@no1marauder saidlink?
When inflation moderates back to its usual 2 to 3 percent by the end of the year and there's still high GNP and wage growth with lower unemployment, what will you say then? That is the most likely scenario according to economists.
15 Aug 21
@averagejoe1 saidWhere you may see the biggest political cause for inflation is the minimum wage increases. For a very brief period the lower income folks will see some relief. But, in exchange for temporary relief for some, the inflation will effect all long term. Not only this, but those that have held their jobs and have worked hard to get though step raises and competency based raises may have maxed out for their position. They get hit with the high inflation without a chance for an increase in income. Unless they want to quit and start over at a much lower rate of pay there is nothing they can do about it. The government loves to level the playing ground by taking from some and giving it to others. This hinders efforts of many to increase their standard of living, because taking from those that perform and giving to those that don't not only hurts them financially but can be a big discouragement to try hard to get ahead. Look what happened to Communist Russia. Do we want that here?
For 4 years under Trump, wages always exceeded inflation. Too bad that Biden and he can't get along, Biden could make a new cabinet position and put Trump on it to solve this problem. Trump is a businessman, Biden is not CLOSE to being a businessman. Who thinks that a politician can get a handle on running a country, having had no experience in running a company? Biden did, of course, earn millions of dollars somewhere.....we just don't know where!
@joe-beyser saidMinimum wage employees who work full time currently make less than the poverty line, qualifying them for government assistance programs. In effect, this means their actual spending power is higher as they are subsidized by the government.
Where you may see the biggest political cause for inflation is the minimum wage increases. For a very brief period the lower income folks will see some relief. But, in exchange for temporary relief for some, the inflation will effect all long term. Not only this, but those that have held their jobs and have worked hard to get though step raises and competency based raises ...[text shortened]... scouragement to try hard to get ahead. Look what happened to Communist Russia. Do we want that here?
Raising the minimum wage for these workers does not mean an increase in spending money. It simply means the check needs to be cut by the employer and not the government.
15 Aug 21
@wildgrass saidSo to hell with the boys that worked hard to get where they are at then.
Minimum wage employees who work full time currently make less than the poverty line, qualifying them for government assistance programs. In effect, this means their actual spending power is higher as they are subsidized by the government.
Raising the minimum wage for these workers does not mean an increase in spending money. It simply means the check needs to be cut by the employer and not the government.
15 Aug 21
@joe-beyser saidNo.
So to hell with the boys that worked hard to get where they are at then.
$15,708 coming from his boss for a full time hard working McD's employee who then collects an additional $10k through taxpayer-funded government assistance programs. His/her spending potential is the same whether or not the government subsidizes. This is a compelling argument for raising the minimum wage since it will get millions of people off the government handout carousel.
Why should the government subsidize corporate payrolls who are paying less than poverty wages to full time employees?
@wildgrass
What you are talking about is the earned income tax credit. At the moment the max you can get is 6.6k.
15 Aug 21
@eladar saidThere are at least 5 other welfare programs.
@wildgrass
What you are talking about is the earned income tax credit. At the moment the max you can get is 6.6k.
15 Aug 21
@wildgrass saidEarned income tax credit is not welfare. It is a tax credit.
There are at least 5 other welfare programs.
Read up on the earned income tax credit. Learn something.