Popular Post ozimoron Posted April 5, 2023 Popular Post Share Posted April 5, 2023 (edited) 1 hour ago, nauseus said: Dreamer. Interest rates have finally been raised to try to slow the highest inflation in more than 40 years. Yep, world wide. I assume you're not aware of that? If so how is it a product of or relevant to American politics? Here's a hint: Federal banks determine fiscal policy, not politicians. Edited April 5, 2023 by ozimoron 2 1 2 Link to comment Share on other sites More sharing options...
Popular Post nauseus Posted April 5, 2023 Popular Post Share Posted April 5, 2023 3 hours ago, ozimoron said: Yep, world wide. I assume you're not aware of that? If so how is it a product of or relevant to American politics? Here's a hint: Federal banks determine fiscal policy, not politicians. Inflation is not the same "world wide" Inflation in America is partly a product of U.S. Government policy, which at the moment includes on high spending and planned high taxation - this is fiscal policy so you are wrong - it is monetary policy that is normally expected to be run by central banks. 2 1 Link to comment Share on other sites More sharing options...
nauseus Posted April 5, 2023 Share Posted April 5, 2023 3 hours ago, heybruce said: That's the standard approach. Why do you bring it up? It doesn't refute anything I posted. Also, it's working: https://aseannow.com/topic/1291146-key-inflation-measures-are-falling-at-their-fastest-pace-in-40-years/ What's working??? This article is a joke and shows a classic example of how present-day economic "data" are manipulated. If food, fuel and housing are removed from the equation, then of course the inflation numbers look better. However, this will not help real people in the real world paying real bills. Link to comment Share on other sites More sharing options...
ozimoron Posted April 5, 2023 Share Posted April 5, 2023 (edited) 23 minutes ago, nauseus said: Inflation is not the same "world wide" Inflation in America is partly a product of U.S. Government policy, which at the moment includes on high spending and planned high taxation - this is fiscal policy so you are wrong - it is monetary policy that is normally expected to be run by central banks. Do you imagine that a tax break of 2.5 billion, mainly for the rich was not highly inflationary? Interest rates held too high for too long were a contributor for sure - nothing to do with the government. The fact that high inflation is world wide demonstrates beyond doubt that it's not a US domestic issue. Edited April 5, 2023 by ozimoron 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 5, 2023 Share Posted April 5, 2023 4 minutes ago, ozimoron said: Do you imagine that a tax break of 2.5 billion, mainly for the rich was not highly inflationary? Interest rates held too high for too long were a contributor for sure - nothing to do with the government. The fact that high inflation is world wide demonstrates beyond doubt that it's not a US domestic issue. Because the poor are generally tax recipients, and because they (and almost half the middle-class) pay no income tax in the US, I think it fair to assume that along with the rich paying they bulk of taxes in the US, they also benefit more from tax breaks. Is anyone surprised that tax recipients want taxpayers to pay more? 1 Link to comment Share on other sites More sharing options...
ozimoron Posted April 5, 2023 Share Posted April 5, 2023 9 minutes ago, Yellowtail said: Because the poor are generally tax recipients, and because they (and almost half the middle-class) pay no income tax in the US, I think it fair to assume that along with the rich paying they bulk of taxes in the US, they also benefit more from tax breaks. Is anyone surprised that tax recipients want taxpayers to pay more? They use those tax breaks to donate to politicians who give them tax breaks 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 5, 2023 Share Posted April 5, 2023 3 minutes ago, ozimoron said: They use those tax breaks to donate to politicians who give them tax breaks Is that why the left outspends the right? 1 Link to comment Share on other sites More sharing options...
ozimoron Posted April 5, 2023 Share Posted April 5, 2023 8 minutes ago, Yellowtail said: Is that why the left outspends the right? Show where left wing politicians hand out huge tax breaks and claim they trickle down to the poor. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 5, 2023 Share Posted April 5, 2023 27 minutes ago, ozimoron said: Show where left wing politicians hand out huge tax breaks and claim they trickle down to the poor. More trolling? I never said that. But YOU said: 1 hour ago, ozimoron said: Do you imagine that a tax break of 2.5 billion, mainly for the rich... And later said: 44 minutes ago, ozimoron said: They use those tax breaks to donate to politicians who give them tax breaks Why don't YOU show that: 1. That a 2.5 billion tax break was mainly for the rich. 2.That the rich turns around and gives the tax breaks to politicians who give them tax breaks. Link to comment Share on other sites More sharing options...
ozimoron Posted April 5, 2023 Share Posted April 5, 2023 Just now, Yellowtail said: More trolling? I never said that. But YOU said: And later said: Why don't YOU show that: 1. That a 2.5 billion tax break was mainly for the rich. 2.That the rich turns around and gives the tax breaks to politicians who give them tax breaks. Both have already been discussed and linked. I'm not surprised that you don't know that. 1 Link to comment Share on other sites More sharing options...
heybruce Posted April 5, 2023 Share Posted April 5, 2023 1 hour ago, nauseus said: What's working??? This article is a joke and shows a classic example of how present-day economic "data" are manipulated. If food, fuel and housing are removed from the equation, then of course the inflation numbers look better. However, this will not help real people in the real world paying real bills. The reason those items were excluded were included in the link. I trust the judgment of the experts on the subject more than yours. Link to comment Share on other sites More sharing options...
nauseus Posted April 5, 2023 Share Posted April 5, 2023 4 hours ago, heybruce said: The reason those items were excluded were included in the link. I trust the judgment of the experts on the subject more than yours. I'm sure you do. Link to comment Share on other sites More sharing options...
placeholder Posted April 5, 2023 Share Posted April 5, 2023 7 hours ago, nauseus said: Inflation is not the same "world wide" Inflation in America is partly a product of U.S. Government policy, which at the moment includes on high spending and planned high taxation - this is fiscal policy so you are wrong - it is monetary policy that is normally expected to be run by central banks. High taxation is, in fact, deflationary. And you somehow managed to forget the war in Ukraine. And also the fact that the covid pandemic created worldwide shortages of crucial items such as chips with a resulting rise in prices. . And where did you ever come up with the notion that the Fed has little to do with subduing inflation? Paul Volcker is widely credited with stopping inflation in the Carter and Reagan years by imposing very high interest rates. What don't you understand about the fact that high interest rates tend to discourage the borrowing that fuels demand via business expansion and mortgages? That's very basic. 1 1 Link to comment Share on other sites More sharing options...
placeholder Posted April 5, 2023 Share Posted April 5, 2023 38 minutes ago, nauseus said: I'm sure you do. It's clear you should too. 1 1 Link to comment Share on other sites More sharing options...
Pink Mist Posted April 5, 2023 Share Posted April 5, 2023 With Donald Trump now arrested by surrendering in court and being arraigned This OP has run it's course and is now locked. 1 Link to comment Share on other sites More sharing options...
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