The Ministry of Truth thread

#701
#701
BowlBrother85 said:
I'm the one in this debate talking about Trump's pre-COVID budgets, which is what @FLVOL_79 's posts concerned. You are the one attempting to shift this subject towards an inapplicable hypothetical scenario. So, it is YOU who is trying to shift the discussion away from what FLVOL_79 was truly talking about.

@FLVOL_79 , was clearly making the argument that Trump's budgets were fiscally responsible, prior to the start of the pandemic. That is false. Trump's budgets were unnecessarily bloated from the beginning of his presidency.

This is yet another example of a poster who stubbornly refuses to admit when he is wrong, and just has to get the last word in.
Click to expand...
Damn dude you still mad? You were equating Trump to being one of the most fiscally destructive presidents in history. That ain't the case. Almost every article you posted in support of your claim was conjecture or whataboutism. The crux of your arguement lies almost solely with Trump being a moron and not knowing how the federal budget process worked.

I would wager a guess that you're trying to lay the groundwork to shift blame from what Biden is doing and what his fiscally ret@rded legacy will be.
 
  • Like
Reactions: BreatheUT, AM64 and Orangeslice13
#702
#702
FLVOL_79 said:
Damn dude you still mad? You were equating Trump to being one of the most fiscally destructive presidents in history. That ain't the case. Almost every article you posted in support of your claim was conjecture or whataboutism. The crux of your arguement lies almost solely with Trump being a moron and not knowing how the federal budget process worked.

I would wager a guess that you're trying to lay the groundwork to shift blame from what Biden is doing and what his fiscally ret@rded legacy will be.
Click to expand...

I heard Biden's speech on radio today and he took credit for reducing the deficit by over $1T. Incredible. It was so contradictory about fed spending not being a cause of inflation, yet talked about taxing the rich to improve inflation. Throw in a comment about MAGA extremist statements. It was quite remarkable, so much so it made me nauseous and I turned it off.
 
  • Like
Reactions: AM64 and FLVOL_79
#704
#704
Orangeburst said:
I heard Biden's speech on radio today and he took credit for reducing the deficit by over $1T. Incredible. It was so contradictory about fed spending not being a cause of inflation, yet talked about taxing the rich to improve inflation. Throw in a comment about MAGA extremist statements. It was quite remarkable, so much so it made me nauseous and I turned it off.
Click to expand...
Besides kid touching Biden will forever be known for inflation, record gas prices, and around 700,000 covid deaths and counting.
 
  • Like
Reactions: StarRaider, Orangeburst and AM64
#705
#705
whodeycin85 said:
How much was added the debt under Trump? 8 trillion...8.5. How much was from covid???
Click to expand...

Unless something drastic happens, every president from now on will be tabbed with adding massively to the debt. There's what you might term "legacy" spending - the stuff that's been passed by legislature after legislature before the new guy was elected. It's spending that can't be "unspent" by any new administration. There's also interest on the existing debt. And there's always congress pumping (or pimping) out new spending. Even if we called in all the politicians and clubbed them to death in their sleep, we'd still have massive spending because we have an even bigger bureaucracy to write the checks - the federal fire hydrants pouring cash are stuck wide open.
 
  • Like
Reactions: HammondB3Vol and whodeycin85
#706
#706
utvolpj said:
They claim it when they don't have the power. To his credit, the last guy admitted he didn't even care about budgets
Click to expand...

I seem to recall that the last guy was also impeached because he didn't spend some specified funds as quickly as congress wanted. So a question. If congress is responsible for spending and budgets and the administration is required to spend as congress demands, then how is it that a president is the scapegoat for federal spending? He can request, but budget and spending allocations still come from congress. In business once my budget was approved, I did have the discretion not to spend and the flexibility to shift priorities - seems like for the last administration that was a no go ... at least on certain things like border walls and payments to foreign governments.
 
#707
#707
AM64 said:
I seem to recall that the last guy was also impeached because he didn't spend some specified funds as quickly as congress wanted. So a question. If congress is responsible for spending and budgets and the administration is required to spend as congress demands, then how is it that a president is the scapegoat for federal spending? He can request, but budget and spending allocations still come from congress. In business once my budget was approved, I did have the discretion not to spend and the flexibility to shift priorities - seems like for the last administration that was a no go ... at least on certain things like border walls and payments to foreign governments.
Click to expand...
Potus didn't have the ability to prevent spending that's been approved by Congress
 
#708
#708
utvolpj said:
Yes I think they both are reckless spenders passing inflationary policy. The difference is who receives the money
Click to expand...
This is true.

What creates more inflationary pressure:

Cash Handouts or Tax Breaks?
Do we know?
 
#709
#709
utvolpj said:
Potus didn't have the ability to prevent spending that's been approved by Congress
Click to expand...

Seems like a stupid way to run a railroad. A lot of things can happen in a year. Why have an administration (a CEO essentially) if he's captive to what congress passes?
 
#710
#710
AM64 said:
Seems like a stupid way to run a railroad. A lot of things can happen in a year. Why have an administration (a CEO essentially) if he's captive to what congress passes?
Click to expand...
Someone still had to sign it. For example, he didn't have to sign the covid relief bill but chose to
 
#711
#711
BowlBrother85 said:
I'm not saying anything which needs to be read between the lines. Republicans held a majority in both chambers during Trump's first 2 years in office. Blaming Democrats for those spending bills doesn't wash.
Click to expand...
Not blaming them solely. But your beloved democrat party wasn't exactly protesting those spending bills.
 
  • Like
Reactions: BreatheUT
#714
#714
85SugarVol said:
This is true.

What creates more inflationary pressure:

Cash Handouts or Tax Breaks?
Do we know?
Click to expand...

my 2 cents - cash handouts always involve running the money through the government first. By definition that is a reduction in monies held by the citizenry followed by an increase.

tax breaks bypass the government redistribution function.

I don't recall any Econ classes where tax breaks were considered inflationary (though I suppose massive reductions to tax rates could be). I recall plenty of Econ classes where government throwing cash at the populace having inflationary pressures.
 
  • Like
Reactions: 85SugarVol, AM64 and hog88
#715
#715
volinbham said:
my 2 cents - cash handouts always involve running the money through the government first. By definition that is a reduction in monies held by the citizenry followed by an increase.

tax breaks bypass the government redistribution function.

I don't recall any Econ classes where tax breaks were considered inflationary (though I suppose massive reductions to tax rates could be). I recall plenty of Econ classes where government throwing cash at the populace having inflationary pressures.
Click to expand...
Bingo. We have a winner!
BTW, your 2 cents……that‘s worth somewhere around 1.6 or 1.7 cents now. You can thank Joe 😉
 
  • Like
Reactions: dovervolz, SlipKidVol and AM64
#716
#716
DonjoVol said:
Not blaming them solely. But your beloved democrat party wasn't exactly protesting those spending bills.
Click to expand...
... and Republicans were? They held majority control of both chambers of Congress, plus the White House in 2017 and 2018, with an expanding and robust economy that didn't need stimulus. That was not the time to be signing $1.3 trillion omnibus spending packages into law. That was exactly what Trump did in March of 2018, however... and let's not forget that he wanted it to be even larger in order to include funding for his border wall.

https://abcnews.go.com/Politics/trump-expected-sign-13-trillion-spending-bill/story?id=53965937

^^^^ This was fiscally irresponsible. ^^^^
 
#719
#719
#720
#720
BowlBrother85 said:
... and Republicans were? They held majority control of both chambers of Congress, plus the White House in 2017 and 2018, with an expanding and robust economy that didn't need stimulus. That was not the time to be signing $1.3 trillion omnibus spending packages into law. That was exactly what Trump did in March of 2018, however... and let's not forget that he wanted it to be even larger in order to include funding for his border wall.

Trump says he signed $1.3 trillion spending bill

^^^^ This was fiscally irresponsible. ^^^^
Click to expand...
I understand now. You were upset that Trump didn't get to build his border wall.
 
#721
#721
volinbham said:
my 2 cents - cash handouts always involve running the money through the government first. By definition that is a reduction in monies held by the citizenry followed by an increase.

tax breaks bypass the government redistribution function.

I don't recall any Econ classes where tax breaks were considered inflationary (though I suppose massive reductions to tax rates could be). I recall plenty of Econ classes where government throwing cash at the populace having inflationary pressures.
Click to expand...
Really? How many Economics classes did you take? I don't think they could have been classes held at the University of Tennessee, and certainly not under Professor Don Bruce.

*******************************
*******************************

Tax cuts are inflationary, unless there is a corresponding reduction in government spending.

Now, whenever tax cuts are accompanied by an increase in government spending .......

(and when it comes to Republican Presidents since Ronald Reagan, there never is one without the other)

....... you have a recipe for a significant rise of inflationary pressure.

How inflationary are tax cuts?

********************************
********************************

This next article below details a cautionary message from the Federal Reserve to Republicans during Trump's first year in office, which went unheeded.

How Inflation Impacts U.S. Tax Policy | Northeastern University

(From the article above)

Where the U.S. stands on tax policy

President Donald Trump and the Republican majority in the U.S. House of Representatives and Senate have repeatedly named tax reform as a primary goal of their current administration. By cutting taxes for individuals and businesses, the ruling party hopes to foster a more robust economic expansion. But by some estimates, the American economy is already running close to full steam, and an increase in spending spurred by tax cuts would likely serve to increase inflation. Paradoxically, this could have the effect of actually limiting economic growth.

The president and the GOP's tax proposal, if signed into law, could result in a cumulative tax cut of around $700 billion per year. The Fed has warned that this could compel them to raise interest rates above their current, historically low levels. Mark Mazur, a former tax policy secretary for the Treasury Department, told Reuters that such tax cuts would probably drive inflation upward, requiring the Fed to tighten its monetary policy through higher interest rates. This scenario would happen quickly if businesses reacted to tax cuts by hoarding cash, rather than investing savings elsewhere.
 
Last edited:
#725
#725
85SugarVol said:
This is true.

What creates more inflationary pressure:

Cash Handouts or Tax Breaks?
Do we know?
Click to expand...
I would guess it's based on size. However it seems they are hardly ever separated under an R. At least the D want to raise taxes to pay for the handouts
 
New posts
You must log in or register to reply here.

VN Store



Back
Top