U.S. labor market roars back; full recovery still years away

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8 hours ago, nauseus said:

Clear trends do not guarantee a real indication.

 I showed you repeatedly how the billion prices project independently confirmed the accuracy of the govt's measurement of inflation. What is it that you don't understand about that?

[Neeranam]

On 3/6/2021 at 5:57 AM, rooster59 said:

Unemployment remains high among Blacks and Hispanics, as well as Americans without a high school diploma and college degrees.

What does this mean?

Hispanics aren't American?

[Neeranam]

On 3/6/2021 at 7:30 AM, CrunchWrapSupreme said:

Good thing Biden’s loosened up those green cards. I’ll be bringing back my Thai wife likely within his administration. She likes the idea of making 500-800 baht an hour in this hopefully recovering economy.

It's a good thing for foreigners wanting a green card, but not the people who are unemployed. 

 

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2 hours ago, Neeranam said:

What does this mean?

Hispanics aren't American?

First of all, why question only the article's reference to Hispanics and not to Blacks?

Second the article isn't saying that Hispanics aren't Americans. It's referring to 3 different groups: Blacks, Hispanics, and Americans without a college degree. 

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Just a pinprick, but it could never have happened under the Republican version of populism.

A $60 billion surprise in the Covid relief bill: Tax hikes

Democrats are getting an early start on their tax-increase agenda.

They’ve tucked a trio of little-noticed tax hikes on the wealthy and big corporations into their coronavirus relief package that together are worth $60 billion.

https://www.politico.com/news/2021/03/10/covid-relief-bill-tax-hikes-475051

[Surelynot]

3 minutes ago, placeholder said:

Just a pinprick, but it could never have happened under the Republican version of populism.

A $60 billion surprise in the Covid relief bill: Tax hikes

Democrats are getting an early start on their tax-increase agenda.

They’ve tucked a trio of little-noticed tax hikes on the wealthy and big corporations into their coronavirus relief package that together are worth $60 billion.

https://www.politico.com/news/2021/03/10/covid-relief-bill-tax-hikes-475051

Just as the Tories have done in their recent budget, except they went,  for the poor people not big business.

Edited March 11, 2021 by Surelynot

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6 minutes ago, Surelynot said:

Just as the Tories have done in their recent budget, except they went,  for the poor people not big business.

Well, the Republicans did that too in their big tax cut bill. For one thing, the part that gives big tax cuts to corporations and such, isn't subject to expiration.

For another, they changed the way Social Security benefits are computed in such a way as lower the inflation adjustments. Even before the Trump tax cut bill, the way Social Security was computed already inaduately adjusted for inflation among the elderly. 

[cmarshall]

22 hours ago, placeholder said:

For another, they changed the way Social Security benefits are computed in such a way as lower the inflation adjustments. Even before the Trump tax cut bill, the way Social Security was computed already inaduately adjusted for inflation among the elderly. 

While it's true the the SS Cola does not keep up with inflation for retirees I am not aware it has been further modified to our disadvantage recently.  Do you have a source on that?  

My understanding is that during our working years prior to claiming SS benefits the COLA that is applied is based on changes in wages.  Then once we retire a different COLA is used that measures inflation according to a basket of goods, probably CPI-U.  The Dems have discussed modifying the COLA for recipients of SS benefits to reflect more accurately changes in the cost of living for senior citizens.

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3 hours ago, cmarshall said:

While it's true the the SS Cola does not keep up with inflation for retirees I am not aware it has been further modified to our disadvantage recently.  Do you have a source on that?  

My understanding is that during our working years prior to claiming SS benefits the COLA that is applied is based on changes in wages.  Then once we retire a different COLA is used that measures inflation according to a basket of goods, probably CPI-U.  The Dems have discussed modifying the COLA for recipients of SS benefits to reflect more accurately changes in the cost of living for senior citizens.

You're right. My mistake. I think it was proposed but wasn't changed. What the Republicans did do was equally harmful. They changed the way inflation was computed so that tax brackets will rise more slowly meaning it's more likely middle class taxpayers will be taxed at a higher rate.