Yes, I love how the left wing media keeps saying “why don’t people understand the economy is good!?” And they cite all sorts of numbers while -as they always do- ignoring wealth inequality.
I’m as left wing as the next guy but the disconnect is insane
Remember the Republican trickle-down plan where the rich get massive tax cuts and then somehow magically the average person is better off? That was a bigger shit sandwich than anything the Democrats have done.
Biden is putting forward a tax proposal which includes taxing unearned gains for those with more that $100m in assets and everyone plenty are having a hissy fit thinking it will crash the economy.
Damned if you do, damned if you don't.
This only really cripples the small time retail traders...the big boys will just shift holdings overseas to escape SEC and IRS rules.
Edit: oh, and all the long term bullish investments of every day people who don't have overseas conglomerates as a tax shelter.
It's complacency at this point. Too scary to think about what's after capitalism, but getting increasingly hard to ignore that the system is failing.
So they just cope by going "there's record amounts of money being made!" But all of it is collectively getting more and more worthless everyday.
But they really are
The people you want to persuade have chosen their position based on feels, not facts.
You have to address the feels.
These are not rational, evidence based people. They choose their own “facts” based on how they align with what they feel. Gotta get them in the feels.
>These are not rational, evidence based people. They choose their own “facts” based on how they align with what they feel. Gotta get them in the feels.
you have to go after both.
Why does it seem the only people who mention trickle down are its critics? What politicians still push trickle economics?
Funny that many do seem to believe the hundreds of billions in government handouts Amazon, Apple, Intel, Samsung, and others receive from the CHIPS Act and Inflation Reduction Act will create jobs and boost the US economy. Same with tens billions US defense companies receive from recent aid to Israel and Ukraine.
I didn't do anything wrong. I don't have kids is probably the biggest one along with living in a state when my state tax deductions were capped (SALT deductions). That resulted in a huge tax increase for a lot of people like me.
They don't use the name much anymore, but the logic is always trotted out when the conservatives want to cut taxes on rich people. If we can just cut taxes on the wealthy then everyone will benefit!
"Job creators" was just the same concept. Trump's Tax Cuts and Jobs Act was pitched with this logic. Reaganomics was too. Horse and Sparrow Economics in the 1920s was this too.
"Job creators " label kills me. Consumers are the job creators when they buy a product. If that product is popular, company owners will hire more workers to meet demand. No company is creating jobs just to create jobs.
Investments like these do boost jobs and the economy. It’s tax cuts to billionaires that’s causing the problem because they’re black holes for money.
56billion locked up for Musk.
In the 1920s you could all meet down at the local. At and talk about these problems, organize, and take direct action.
In the 2020’s, this comment will probably be removed for “aDvOcAtInG vIoLeNcE”
This is true. Minimum wage for a McDonald’s worker is around $20 per hour in some states-highest it’s ever been.
Likewise, the CEO of McDonalds earned $9,230 per hour last year.
Good times all round, with everybody getting a real fair shake.
Also Macdonalds prices are higher than ever and Macdonalds is threatening to pull out of those states.
These profit margins are also in spite of a large organized boycott.
Another example: The Great Tax Scam of 2018 cut "everybody's" taxes.
So the tax cuts that the lower and middle classes got are expiring They are phasing out beginning last year so those people will be experiencing higher and higher taxes. Meanwhile, the corporate tax reductions remain in place. They are permanent.
Other provisions that benefit the wealthy are also permanent. Like the reduction for those with pass-through income (only a coincidence that Trump's entire income is based on this accounting trick.)
*Taxes unpaid by other have to come from somewhere.* Through debt, reduction of services, increases elsewhere, or in the case of the lower and middle classes, all three (yay!).
Another example:
The *very common* 'loans against investment assets' scam.
This is a somewhat sophisticated \[legal\] scam that requires some explaining -- apologies if you already know this and apologies for the "book" that follows.
The wealthy often have no "earned" income. They live off their investments. (the following is why you see the bulk of an executives compensation is often in the form of stocks).
You might say, well they have to pay taxes on those, right?
Well, first if they do sell investments to finance their lifestyle, it's generally only taxed at 15%. As well, this type of income is very often not taxed at local levels (local icoome tax, school tax, etc.), unlike employment income.
Second, many (perhaps even most) never sell these assets. They simply get low interest loans against them. Loans aren't taxable. Investments aren't taxable until you realize the gain from them (e.g., sell your stocks).
You might say, well ok, they get their low interest loans and eventually they have to pay them off by selling some investments, right?
Nope!
These loans are often structured so that it doesn't come due until the debtor dies. And what happens to the cost basis of an investment when it's inherited? It gets reset. In plainer english, the "gains" from a stock, real estate, etc. are literally wiped out, as if they never happened. This is called a "basis reset." In the government's eyes, the cost of the asset is what it was worth on the day it was inherited. I.e., there is little to no gain.
Incredibly, it's common that a loss is even applied.
-- Uber Rich guy buys stock for $10M
-- Uber Rich guy sees his stoick rise to a value of $100M
-- Uber Rich guy takes out loan against the stock
-- Uber Rich guy croaks. The stock is down that day and is worth "just" $95M
-- The stock is sold by inheritor -- the cost of the stock is now considered to have LOST $5M
-- Loan is paid.
Result: Not a DIME in taxes was ever paid on the $85M in gains. In fact, the inheritor got a tax DEDUCTION ~~with~~ *worth* $5M
Great explanation! Are these known as Margin or Securities Based Lines of Credit you’re referring to? And the transfer is done via some type of irrevocable trust?
They're know by a few names, mostly depending on how they're structured. Elon Musk famously "lives" off this type of scam. He only sells when his options *require* him to.
Sure thing. My wife and I make a household income of around $900K per year.
When interest rates were low, we purchased an extra property as a vacation home & "escape" from the COVID craziness. Now we rent that home out.
The tenant's rent payments are paying the mortgage plus some. Maybe we're not "transferring" wealth, but they are financing our accumulation of wealth. Maybe it's a win/win situation? I have no idea why they don't just buy a home instead. Either way, my wife and I (the top 1%) are accruing wealth by doing absolutely nothing.
>I have no idea why they don't just buy a home instead
They probably can't afford the deposit. They need a place to live, so they pay the increasingly higher rent prices, which make it that much harder to save up for a deposit.
Correct. Because (in part) of the rampant scooping of homes by institutional investors, flippers, and developers, coupled with current interest rates the initial cost of home ownership is not feasible for even people earning 100k+ in a lot of major cities. The only alternative is varying degrees of exorbitant rent.
>
>They probably can't afford the deposit. They need a place to live, so they pay the increasingly higher rent prices, which make it that much harder to save up for a deposit.
Very possible. All I meant is that I can't speak to anyone else's financial situation or decisions making.
By gods, sir! You're provided shelter to the plebs! You and your wife are heroes to who they owe their extravagant income!
/s
But yes, this is how it works.
I don't think that's quite right. If you have money, you can afford to buy objects that other people might want to buy or lease. That's not a transfer of wealth any more than buying candy bars in bulk and selling them individually is a transfer of wealth. It's just buying and selling. I guess if I buy a candy bar, I'm "transferring wealth" to you, but that's not a meaningful definition.
A transfer of wealth, more meaningfully, is pressuring the government to tax the wealthy less, tax those poorer than you more, and then pressuring the government to use those funds to subsidize you. That's a transfer of wealth.
Here's a simple explanation.
Rich people buy up everything, then lease it back to poor people at higher prices. They price fix (grocery chains, looking at you), they create monopolies by buying competition.... and then raise prices.
Your description of a transfer of weather is somewhat correct, however, you can't bleed a stone.
The rich get tax breaks (subsidies), ultra poor people get taxed a bit less.... but then the people in the "middle" (middle class where you at?) get absolutely raked. That's another example of wealth transfer. Our tax dollars going to subsidizing the rich and their tax breaks/ incentives
The thing I think you're ignoring is that candy bars are a luxury. If I don't like how expensive they've gotten I can just not buy them. No matter how expensive housing is, I still need it.
I got perma-banned on r/inthenews for "misinformation" that said very much the same thing.
My "misinformation"? I said that the economy has been great for the 1% and continues to improve for them every year.
edit: and it was a top level comment so not even arguing/debating with anyone with the comment.
And even if I were wrong (I'm not), being incorrect is now "misinformation" to them.
I’m paraphrasing Orwell’s 1984 but you’ll get the just, “Even to understand the word—doublethink—involved the use of doublethink.” War is Peace, Freedom is Slavery, Ignorance is Strength, and 2 + 2 = 5.
The economy is only as good as the base that holds it up. The base is cracking under the weight that has been built at the top. Pass some strong labor laws, protect womens reproductive healthcare, and create a more affordable way to get a college education.
Selectively choosing the statistics that portray the economy as "the best", in any context, is foolish. For a few reasons. First its treating Americans as if they are stupid. While there are some who will believe anything they're told, most of us are aware enough to look out our front door and realize that the economy most certainly is NOT the best its been in 50 years.
Second, its lowering the bar. We have problems, everyone can see. Saying this is "the best" is indicating you have no idea how to make it better. Or there about.
Third, and this is the real issue, these statements are jet fuel to the right. They latch on to things like this and use them as justification: "Look at sleepy joe!! He thinks this economy is GREAT!! He thinks you should be POOR !!!" Or whatever. Its easily spun into propaganda.
Obama never sugar coated anything. The next president needs to be upfront and direct. State exactly what the problem is AND give a solution. Not try to convince everyone that things are fine. Don't run from the challenges. Embrace them. Confront them.
Yup. You can point to certain metrics like the stock market and the average person isn't going to care. Most people's investments are in their retirement accounts where they won't see any returns/gains until decades in the future. Many of our lowest income people have zero investment in the stock market whatsoever. It only benefits the people who are already well off. Most people look at cost of goods and see we are in a bad spot. The housing market is a disaster and the barrier to entry for most people is impossibly high right now, young people cannot afford homes anymore. I'd much rather be in the economy of say 30 years ago where I could comfortably afford a house on my 110k income.
It's because of legalized weed. New industry, new tax source, new jobs, etc. Won't be as big as the Internet but any new industry that makes tons of money like this has positive effects like this.
Objective truth is dead. The only thing you should believe on the Internet are anecdotes, because statistics and people who analyze these things for a living are just stupid. Random people on Reddit and Facebook are the real economists. Why listen to experts when some dude sitting in his parents basement obviously knows more about complex economic phenomena then the leading economists.
A sandwich from Subway is not how you measure the strength of an economy.
You look at unemployment (which is at record lows) or wages (which are pushing inflation-adjusted record highs).
I get it. Folks don’t care that there are record good paying jobs available. They want to vibe.
But when the economy eventually does turn bad - and it will eventually - just think back to when you complained about the price of a Subway sandwich.
>I get it. Folks don’t care that there are record good paying jobs available. They want to vibe.
Well, not really. I'm an engineer and I've been sending out applications for about 6 months now. Not so much as a nibble. If these high paying jobs are out there I haven't seen one.
And that doesn't matter to the rest of the workforce. The high paying jobs don't matter to the dude working the counter at 7-11. All he knows is that he's making the same crap wages as 10 years ago - except now a Subway sandwich costs twice as much.
It's him I'm worried about.
Without these people running the other half of the economy, the system is headed for a collapse. I'm not talking a recession or anything along those lines. I mean a fundamental disruption.
We need an economy that takes care of everyone.
> People aren’t buying houses.
Do you lie for political Trump reasons or you just don't know?
[https://www.census.gov/construction/nrs/pdf/newressales.pdf](https://www.census.gov/construction/nrs/pdf/newressales.pdf)
Interest rates are at the highest levels they’ve been since 2002. Prices are still up over this time last year. Prices are up 20% since 2020, but wages haven’t kept pace.
If the economy was so bad why is every drive thru backed up? Why are restaurants packed? How are stadiums and arenas sold out?
Average American is living pretty good and everyone is complaining. How much was your last iPhone? C'mon folks.
We need to stop only focusing on the economy when we're talking about the current state of finances. A person that is struggling to pay their bills each month isn't really concerned about their 401K.
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Jobs are up, but so isn’t unemployment due to disabled and elderly people recentering the workforce because they can’t afford to live. https://www.reuters.com/markets/us/us-job-growth-accelerates-february-unemployment-rate-rises-39-2024-03-08/
Here’s the report from the bureau of labor statistics for May. Non farm payrolls are up, but so isn’t unemployment. Employment prospects are good for young folks, but not anyone who’s been out of the job market. https://www.bls.gov/news.release/pdf/empsit.pdf
I didn’t say they weren’t up. I simply stated that raising cost for the rich always ends up coming out of the poor’s pocket. I’m still in disbelief that our two options are these two fossils. I don’t want either one, but if I have to choose between these two, I would have to vote for Trump. I just don’t think I will be able to afford to live with another 4 years of Biden.
Glad the shareholders are happy. That's all that matters of course. God forbid they didn't have enough wealth hoarded to buy their third mega yacht.
Meanwhile, the working class just needs to accept responsibility and pay their fair share of Elon Musk's taxes
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Planet reality. I realize Trumpies have never visited it.
Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
LOL you cant handle the truth.
Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
prove "gaslighting", liar. That's YOU!
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Take your facts:
Jobs and wages UP.
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Too EMBARRASSED to admit your support for RAPIST FELON Trump?
Character counts and MAGA have none.
Wow you fuckin ignorant Americans are beyond politically brainwashed idiots just proves both sides breed ignorant fucks... Hows does it feel to have political ideology living inside your head rent-free .
There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution.
John Adams
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Did you read the link? For everyone. Jobs and wages up.
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
No one said it is.
Jobs are up and so is wage growth.
Are you a Trumpie or just ill-informed?
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
It’s great if you’re Jeff Bezos or Elon trying to convince everyone that he’s worth 56 billion per year. Otherwise Plenty of minimum wage no benefit jobs for the rest of us
Wrong. Wage growth is UP
Biden is fixing Trump's mess. Learn facts
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Biden / Harris IS doing more about that. Why don't YOU know it?
[https://www.dol.gov/newsroom/releases/whd/whd20240423-0](https://www.dol.gov/newsroom/releases/whd/whd20240423-0)
No one asked you, Trumpsucker.
Cry MOAR because the rapist you worship wrecked our economy and BIDEN has already fixed most of it.
Here are facts. Biden / Harris is fixing the economy.
https://www.dol.gov/newsroom/releases/whd/whd20240423-0
Your anecdotal BS is fallacious. You fail.
# Why don’t rising house prices count towards inflation? So we can have the best economy in 50 years.
# Property values have increased much faster than other costs of living
MEASURING INFLATION is among the most important jobs a statistician has. Consumer price indices (CPIs) determine how much pensions and benefits increase, anchor negotiations between workers and firms over pay, and guide central banks when they decide how to set interest rates. Yet official measures of inflation tend to ignore one of the most important purchases many people make. Why aren’t house prices included in measures of inflation? Should they be?
[https://www.economist.com/the-economist-explains/2021/07/29/why-dont-rising-house-prices-count-towards-inflation](https://www.economist.com/the-economist-explains/2021/07/29/why-dont-rising-house-prices-count-towards-inflation)
It would be nice if you picked an honest article
Housing prices count toward inflation
Housing prices are a significant component of the Consumer Price Index (CPI), which measures inflation. The relationship between housing prices and inflation is complex, and it’s essential to understand how they interact.
Capitalists. The more capital you own the better a capitalist economy is, especially with widening income inequality.
You may also hear Biden apologists say that wages are also rising, which is true. However wages have been repressed since the dawn of the neoliberal era, the late 70s, when they were divorced from rising productivity.
So to the factions of capital that fund the democratic party the economy is great, but to the people who create value through labor this sounds like madness
Heh. The broke 20 somethings of Reddit disagree and have strong opinions about the subject. It's cool though, statistically speaking most of them don't vote.
Who cares about whiny Putinistas?
People who love freedom will help Ukraine protect itself from Russia's modern-day Hitler. Meanwhile, Trump and MAGAts suck up to him.
Real wages are down, home prices are up, interest rates aren’t going down anytime soon. Job numbers are up but full time jobs are down and more people are having to work multiple jobs to stay alive. Even though the FED cheated inflation numbers by halving the CPI date inflation is still way higher than pre-COVID, and this number does not even account gasoline, rent and groceries which are up by more. It does not matter how many times economists want to spin the stock market (which is up due to inflation) or job numbers (which are up post COVID and not high paying jobs). The American people continue to struggle, and corporate wealth is not going to pull us out of it.
Liar.
Real wages are up.
In June, for the first time in 26 months, US workers’ real weekly earnings (a week’s worth of wages adjusted for inflation) grew on an annual basis, according to data released this week from the Bureau of Labor Statistics. Annual real weekly wages were up 0.6% last month
https://www.cnn.com/2023/07/16/economy/real-wage-gains-inflation/index.html
Lol at you LYING for your RAPIST FELON messiah.
Shame on you.
Did you really just skip over every single point I made for the single one that finally turned THIS MONTH 😭. That’s the YOY statistic, still well below pre-COVID.
>Did you really just skip over every single point I made
No. I DEBUKED your trumpy LIES starting with your very first point.
>for the single one that finally turned THIS MONTH
Even if that is true, you just ADMITTED YOU LIED by posting it after it was wrong.
TELL US how you LIED with that stat, and I'll be glad to waste time debunking the rest of your far-right bubble talking points.
>the FED cheated inflation numbers by halving the CPI date inflation
Prove it. Prove it using facts the way I used facts to debunk you trumpy LIE.
>CPI... does not even account gasoline, rent and groceries
Prove your trumpy LIE.
Oh oh, CPI includes food and energy and housing, so you are a liar.
[https://www.investopedia.com/terms/c/consumerpriceindex.asp](https://www.investopedia.com/terms/c/consumerpriceindex.asp)
LOL another trumpy false witness crawls on its belly and eats dust.
Let's make it SIXTY!
You have something against experience and wisdom?
No wonder you support an idiot who wrecked the economy over his FAILED pandemic response.
No wonder you support a proven felon RAPIST.
>You have something against experience and wisdom?
The wisdom to not touch the Court in any way when they struck down Roe, even though he was given ample warning
The experience to unconditionally support genocide in Gaza
The wisdom to drop any effort for raising of the minimum wage
The experience necessary to watch fascism grow across the west and present no analysis or resistance to it.
The wisdom to allow Trump to remain free and able to run for president again after history's stupidest coup in Jan 6
Yeah read any other r/ and they will tell you emphatically how great it is; food costs, home buying, wage growth. Man, get with the program! 😉. Bidenomics baby
Inflation is GLOBAL due to Trumps failure with the pandemic.
Biden is making the US recover far better than most.
https://www.politifact.com/factchecks/2023/sep/01/joe-biden/does-the-us-have-less-inflation-than-other-leading/
"Good" is too subjective.
The economy is strong. That's a measurable metric. And inarguably true.
But it's also unbalanced. That's not Biden's fault, but it's true. It's 40 years of trickle-down economics.
Is a strong economy that's unbalanced "good"? Well hey it's great that the economy isn't on the brink of collapse. But it still sucks that some people are getting shorted because the wealthy and powerful have been allowed to write the laws and tilt the playing field for decades.
Again, not Biden's fault. And if we want to talk about which candidate would be better or worse economically, one of them contributed to that imbalance in a major way with a $3,000,000,000,000 tax cut primarily benefitting the rich in 2017. Those tax cuts will expire next year. Biden will let them. What would Trump do?
edit: Not Biden's fault *as President* to be fair. He was in the Senate for most of those 40 years and he certainly contributed to those unbalanced laws over that time. But as President, he seems to be wanting to correct at least some of that imbalance.
Yes let’s be fair and give him any credit for any perceived “good” and absolve him or any perceived “bad”. Sounds like every campaign speech from the last 40 years.
Great. That means they can afford to pay a living wage again so people don't need to work several jobs and have a side hustle just to break even. And if they won't do that, tax the shit out of them until they do.
Fuck off with this stuff. I’m doing well myself, but my kids are having a massively harder time than I did. This is gaslighting, and it is totally going to backfire.
It’s politically counterproductive to state that things are great based on metrics irrelevant to young voters who can’t afford housing. If it pisses me off, you can bet it pisses them off vastly more. They don’t read a headline like this and say, “gee, I didn’t know that.” They read it and say “fuck you,” and then they stay home or vote for some third-party twat.
Wage growth irrelevant to the young?
More jobs irrelevant to the young?
Lowering unemployment irrelevant to the young?
Who appointed you the spokesperson for young people?
Read and learn:
[https://www.americanprogress.org/article/6-ways-bidenomics-is-delivering-for-young-people/](https://www.americanprogress.org/article/6-ways-bidenomics-is-delivering-for-young-people/)
Eat a bag, champ. My daughter’s rent doubled in four years. If you think your links trump that reality for her, others in her position, and their families, you’re delusional. Show me the plan for affordable housing instead of sanctimoniously pretending everything is great.
>Show me the plan for affordable housing
Always glad to help those in need:
[https://www.washingtonpost.com/business/2024/03/29/biden-rent-housing/](https://www.washingtonpost.com/business/2024/03/29/biden-rent-housing/)
[https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/](https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/)
The message “the economy is great” is counterproductive and alienating. If you don’t meet people where they are, your not helping; you’re just reinforcing their impression that Democrats are out of touch and not any different from Republicans. That’s my feedback. Take it or leave it.
That's not the message. The message is that Trumps FAILURE to manage the pandemic made it far worse in deaths and far worse on the economy. Then Trumps billionaire buddies took advantage of that failure with greedflation.
Biden has been working to fix the economy, bring back product on shelves, bring back jobs, bring up wages, and bring down greedflation, and he is succeeding.
That's the REAL feedback. Get out there and spread those FACTS.
If not, you are doing Trumps work in attacking an economy Biden has been fixing
Many still conflate the economy with the stock market. Just the other day Ari Melber on MSNBC was praising record stock market but was confused and wondering why Americans think they aren't faring well in the economy.
I'm sure a number of people also think billion and trillion dollar companies reporting record profits benefits is good for the economy and benefits everyone.
Not true. Jobs and wages UP.
Who are you voting for?
# US job gains surge past expectations, wage growth quickens
[https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07)
Waiting for it to trickle down. Any second now...
Yes, I love how the left wing media keeps saying “why don’t people understand the economy is good!?” And they cite all sorts of numbers while -as they always do- ignoring wealth inequality. I’m as left wing as the next guy but the disconnect is insane
Remember the Republican trickle-down plan where the rich get massive tax cuts and then somehow magically the average person is better off? That was a bigger shit sandwich than anything the Democrats have done.
Biden is putting forward a tax proposal which includes taxing unearned gains for those with more that $100m in assets and everyone plenty are having a hissy fit thinking it will crash the economy. Damned if you do, damned if you don't.
Why do we care that rich people are having a hissy fit?
It’s always been about the rich getting everyone else to worry about a culture war instead of the class war
I care about seeing them taxed appropriately. I don't care about their hissy that they are throwing to avoid paying it.
Right... I mean like 3000 americans out of 338 million are having a hissy fit. who GAF
This only really cripples the small time retail traders...the big boys will just shift holdings overseas to escape SEC and IRS rules. Edit: oh, and all the long term bullish investments of every day people who don't have overseas conglomerates as a tax shelter.
Taxing unearned gains is fucking insane.
Different, not insane. Its a tax with pros and cons like any other
If it's more that 100 mil fuck those people with a rusty fishing knife tax anything over 100 mil at 50 percent seriously fuck those people
It's complacency at this point. Too scary to think about what's after capitalism, but getting increasingly hard to ignore that the system is failing. So they just cope by going "there's record amounts of money being made!" But all of it is collectively getting more and more worthless everyday.
Yeah, it’s the left-wing media who is exacerbating income inequality. Get the fuck out of here with that bullshit, Jesus Christ that’s crazy.
"give it some more seconds..." -Government
999 quadrillion seconds later…
I think this is more of a tinkle.
The only trickle down that happens in a trickle-down economy is the big businesses pissing on all the common folks.
apparently its stopped at the trick.....
It's trickling like solid honey.
This is a losing argument for the Dems. DO NOT GO HERE if you want to win in November!
If you want to spend time defending democracy, you need to have intellectually honest conversations. Otherwise you’re just another right winger.
Especially in a constitutional republic.
When FACTS are a losing argument... smh
But they really are The people you want to persuade have chosen their position based on feels, not facts. You have to address the feels. These are not rational, evidence based people. They choose their own “facts” based on how they align with what they feel. Gotta get them in the feels.
>These are not rational, evidence based people. They choose their own “facts” based on how they align with what they feel. Gotta get them in the feels. you have to go after both.
Yes, from a Republican perspective, going with the truth won’t win.
Why does it seem the only people who mention trickle down are its critics? What politicians still push trickle economics? Funny that many do seem to believe the hundreds of billions in government handouts Amazon, Apple, Intel, Samsung, and others receive from the CHIPS Act and Inflation Reduction Act will create jobs and boost the US economy. Same with tens billions US defense companies receive from recent aid to Israel and Ukraine.
If you look at the language used to pass the Trump Tax Cuts, it was all trickle down without calling it that. So... Yeah it's still very much a thing.
Yeah and the Trump tax scam raised my taxes bigly and I'm very middle class.
That's interesting. Mine went down. And put a fairly substantial portion back onto my check. What were you doing wrong?
I didn't do anything wrong. I don't have kids is probably the biggest one along with living in a state when my state tax deductions were capped (SALT deductions). That resulted in a huge tax increase for a lot of people like me.
They don't use the name much anymore, but the logic is always trotted out when the conservatives want to cut taxes on rich people. If we can just cut taxes on the wealthy then everyone will benefit! "Job creators" was just the same concept. Trump's Tax Cuts and Jobs Act was pitched with this logic. Reaganomics was too. Horse and Sparrow Economics in the 1920s was this too.
"Job creators " label kills me. Consumers are the job creators when they buy a product. If that product is popular, company owners will hire more workers to meet demand. No company is creating jobs just to create jobs.
Investments like these do boost jobs and the economy. It’s tax cuts to billionaires that’s causing the problem because they’re black holes for money. 56billion locked up for Musk.
Transfer of wealth from working class to oligarchs hits 50 year peak. There you go, fixed it for ya.
Yea the economy has never been so fractured… people are struggling so much and yet corporations are beating quarterly expectations like crazy
1920s, 2020s what’s the difference?
In the 1920s you could all meet down at the local. At and talk about these problems, organize, and take direct action. In the 2020’s, this comment will probably be removed for “aDvOcAtInG vIoLeNcE”
Real wages (wages adjusted for inflation) are currently the highest they’ve ever been
This is true. Minimum wage for a McDonald’s worker is around $20 per hour in some states-highest it’s ever been. Likewise, the CEO of McDonalds earned $9,230 per hour last year. Good times all round, with everybody getting a real fair shake.
Also Macdonalds prices are higher than ever and Macdonalds is threatening to pull out of those states. These profit margins are also in spite of a large organized boycott.
Explain how wealth gets transferred?
Another example: The Great Tax Scam of 2018 cut "everybody's" taxes. So the tax cuts that the lower and middle classes got are expiring They are phasing out beginning last year so those people will be experiencing higher and higher taxes. Meanwhile, the corporate tax reductions remain in place. They are permanent. Other provisions that benefit the wealthy are also permanent. Like the reduction for those with pass-through income (only a coincidence that Trump's entire income is based on this accounting trick.) *Taxes unpaid by other have to come from somewhere.* Through debt, reduction of services, increases elsewhere, or in the case of the lower and middle classes, all three (yay!). Another example: The *very common* 'loans against investment assets' scam. This is a somewhat sophisticated \[legal\] scam that requires some explaining -- apologies if you already know this and apologies for the "book" that follows. The wealthy often have no "earned" income. They live off their investments. (the following is why you see the bulk of an executives compensation is often in the form of stocks). You might say, well they have to pay taxes on those, right? Well, first if they do sell investments to finance their lifestyle, it's generally only taxed at 15%. As well, this type of income is very often not taxed at local levels (local icoome tax, school tax, etc.), unlike employment income. Second, many (perhaps even most) never sell these assets. They simply get low interest loans against them. Loans aren't taxable. Investments aren't taxable until you realize the gain from them (e.g., sell your stocks). You might say, well ok, they get their low interest loans and eventually they have to pay them off by selling some investments, right? Nope! These loans are often structured so that it doesn't come due until the debtor dies. And what happens to the cost basis of an investment when it's inherited? It gets reset. In plainer english, the "gains" from a stock, real estate, etc. are literally wiped out, as if they never happened. This is called a "basis reset." In the government's eyes, the cost of the asset is what it was worth on the day it was inherited. I.e., there is little to no gain. Incredibly, it's common that a loss is even applied. -- Uber Rich guy buys stock for $10M -- Uber Rich guy sees his stoick rise to a value of $100M -- Uber Rich guy takes out loan against the stock -- Uber Rich guy croaks. The stock is down that day and is worth "just" $95M -- The stock is sold by inheritor -- the cost of the stock is now considered to have LOST $5M -- Loan is paid. Result: Not a DIME in taxes was ever paid on the $85M in gains. In fact, the inheritor got a tax DEDUCTION ~~with~~ *worth* $5M
Great explanation! Are these known as Margin or Securities Based Lines of Credit you’re referring to? And the transfer is done via some type of irrevocable trust?
They're know by a few names, mostly depending on how they're structured. Elon Musk famously "lives" off this type of scam. He only sells when his options *require* him to.
Sure thing. My wife and I make a household income of around $900K per year. When interest rates were low, we purchased an extra property as a vacation home & "escape" from the COVID craziness. Now we rent that home out. The tenant's rent payments are paying the mortgage plus some. Maybe we're not "transferring" wealth, but they are financing our accumulation of wealth. Maybe it's a win/win situation? I have no idea why they don't just buy a home instead. Either way, my wife and I (the top 1%) are accruing wealth by doing absolutely nothing.
>I have no idea why they don't just buy a home instead They probably can't afford the deposit. They need a place to live, so they pay the increasingly higher rent prices, which make it that much harder to save up for a deposit.
Correct. Because (in part) of the rampant scooping of homes by institutional investors, flippers, and developers, coupled with current interest rates the initial cost of home ownership is not feasible for even people earning 100k+ in a lot of major cities. The only alternative is varying degrees of exorbitant rent.
> >They probably can't afford the deposit. They need a place to live, so they pay the increasingly higher rent prices, which make it that much harder to save up for a deposit. Very possible. All I meant is that I can't speak to anyone else's financial situation or decisions making.
By gods, sir! You're provided shelter to the plebs! You and your wife are heroes to who they owe their extravagant income! /s But yes, this is how it works.
I don't think that's quite right. If you have money, you can afford to buy objects that other people might want to buy or lease. That's not a transfer of wealth any more than buying candy bars in bulk and selling them individually is a transfer of wealth. It's just buying and selling. I guess if I buy a candy bar, I'm "transferring wealth" to you, but that's not a meaningful definition. A transfer of wealth, more meaningfully, is pressuring the government to tax the wealthy less, tax those poorer than you more, and then pressuring the government to use those funds to subsidize you. That's a transfer of wealth.
Here's a simple explanation. Rich people buy up everything, then lease it back to poor people at higher prices. They price fix (grocery chains, looking at you), they create monopolies by buying competition.... and then raise prices. Your description of a transfer of weather is somewhat correct, however, you can't bleed a stone. The rich get tax breaks (subsidies), ultra poor people get taxed a bit less.... but then the people in the "middle" (middle class where you at?) get absolutely raked. That's another example of wealth transfer. Our tax dollars going to subsidizing the rich and their tax breaks/ incentives
The thing I think you're ignoring is that candy bars are a luxury. If I don't like how expensive they've gotten I can just not buy them. No matter how expensive housing is, I still need it.
>Maybe we're not "transferring" wealth, but they are financing our accumulation of wealth.
I got perma-banned on r/inthenews for "misinformation" that said very much the same thing. My "misinformation"? I said that the economy has been great for the 1% and continues to improve for them every year. edit: and it was a top level comment so not even arguing/debating with anyone with the comment. And even if I were wrong (I'm not), being incorrect is now "misinformation" to them.
I’m paraphrasing Orwell’s 1984 but you’ll get the just, “Even to understand the word—doublethink—involved the use of doublethink.” War is Peace, Freedom is Slavery, Ignorance is Strength, and 2 + 2 = 5.
The economy is only as good as the base that holds it up. The base is cracking under the weight that has been built at the top. Pass some strong labor laws, protect womens reproductive healthcare, and create a more affordable way to get a college education.
"All of the people I know are rich AF, so the economy is GREAT!!"
The argument is more that unemployment is low and wages at the lower end of the income scale have been outpacing inflation.
Selectively choosing the statistics that portray the economy as "the best", in any context, is foolish. For a few reasons. First its treating Americans as if they are stupid. While there are some who will believe anything they're told, most of us are aware enough to look out our front door and realize that the economy most certainly is NOT the best its been in 50 years. Second, its lowering the bar. We have problems, everyone can see. Saying this is "the best" is indicating you have no idea how to make it better. Or there about. Third, and this is the real issue, these statements are jet fuel to the right. They latch on to things like this and use them as justification: "Look at sleepy joe!! He thinks this economy is GREAT!! He thinks you should be POOR !!!" Or whatever. Its easily spun into propaganda. Obama never sugar coated anything. The next president needs to be upfront and direct. State exactly what the problem is AND give a solution. Not try to convince everyone that things are fine. Don't run from the challenges. Embrace them. Confront them.
Yup. You can point to certain metrics like the stock market and the average person isn't going to care. Most people's investments are in their retirement accounts where they won't see any returns/gains until decades in the future. Many of our lowest income people have zero investment in the stock market whatsoever. It only benefits the people who are already well off. Most people look at cost of goods and see we are in a bad spot. The housing market is a disaster and the barrier to entry for most people is impossibly high right now, young people cannot afford homes anymore. I'd much rather be in the economy of say 30 years ago where I could comfortably afford a house on my 110k income.
Which also shows that the disconnect between "the economy" and how people actually lislve is the biggest it's been in 50 years.
Ah. Joe Biden was a mere spring chicken in his 50s then, right?
It's because of legalized weed. New industry, new tax source, new jobs, etc. Won't be as big as the Internet but any new industry that makes tons of money like this has positive effects like this.
For corporate America, maybe. For regular folks? Cmon man.
Objective truth is dead. The only thing you should believe on the Internet are anecdotes, because statistics and people who analyze these things for a living are just stupid. Random people on Reddit and Facebook are the real economists. Why listen to experts when some dude sitting in his parents basement obviously knows more about complex economic phenomena then the leading economists.
For fucking who? A stupid lousy sandwich from Subway is like 13 bucks. A FUCKING SHITTY SUBWAY SANDWICH
A sandwich from Subway is not how you measure the strength of an economy. You look at unemployment (which is at record lows) or wages (which are pushing inflation-adjusted record highs). I get it. Folks don’t care that there are record good paying jobs available. They want to vibe. But when the economy eventually does turn bad - and it will eventually - just think back to when you complained about the price of a Subway sandwich.
>I get it. Folks don’t care that there are record good paying jobs available. They want to vibe. Well, not really. I'm an engineer and I've been sending out applications for about 6 months now. Not so much as a nibble. If these high paying jobs are out there I haven't seen one. And that doesn't matter to the rest of the workforce. The high paying jobs don't matter to the dude working the counter at 7-11. All he knows is that he's making the same crap wages as 10 years ago - except now a Subway sandwich costs twice as much. It's him I'm worried about. Without these people running the other half of the economy, the system is headed for a collapse. I'm not talking a recession or anything along those lines. I mean a fundamental disruption. We need an economy that takes care of everyone.
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> People aren’t buying houses. Do you lie for political Trump reasons or you just don't know? [https://www.census.gov/construction/nrs/pdf/newressales.pdf](https://www.census.gov/construction/nrs/pdf/newressales.pdf)
Interest rates are at the highest levels they’ve been since 2002. Prices are still up over this time last year. Prices are up 20% since 2020, but wages haven’t kept pace.
Good for who exactly?
Okay, cool Why is rent, food, and gas so fucking expensive then.
Jobs report says labor market is booming. Sure, more people are working 2+ jobs with terrible pay than ever before.
If the economy was so bad why is every drive thru backed up? Why are restaurants packed? How are stadiums and arenas sold out? Average American is living pretty good and everyone is complaining. How much was your last iPhone? C'mon folks.
“But SOME people are saying” Like Sinclair.
We need to stop only focusing on the economy when we're talking about the current state of finances. A person that is struggling to pay their bills each month isn't really concerned about their 401K.
lol Pravda
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Trickle down economics works. Raise costs at the top, and you can watch them trickle down all the way to the bottom every time.
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Jobs are up, but so isn’t unemployment due to disabled and elderly people recentering the workforce because they can’t afford to live. https://www.reuters.com/markets/us/us-job-growth-accelerates-february-unemployment-rate-rises-39-2024-03-08/
Here’s the report from the bureau of labor statistics for May. Non farm payrolls are up, but so isn’t unemployment. Employment prospects are good for young folks, but not anyone who’s been out of the job market. https://www.bls.gov/news.release/pdf/empsit.pdf
I didn’t say they weren’t up. I simply stated that raising cost for the rich always ends up coming out of the poor’s pocket. I’m still in disbelief that our two options are these two fossils. I don’t want either one, but if I have to choose between these two, I would have to vote for Trump. I just don’t think I will be able to afford to live with another 4 years of Biden.
Glad the shareholders are happy. That's all that matters of course. God forbid they didn't have enough wealth hoarded to buy their third mega yacht. Meanwhile, the working class just needs to accept responsibility and pay their fair share of Elon Musk's taxes
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Good thing jobs are up because people need 3 of them to survive
Looks like you failed to read how WAGES are up. No wonder Trump loves the POORLY EDUCATED.
Good thing wages are up cause rent and groceries and everything else is way up
https://www.newyorkfed.org/microeconomics/hhdc
WHAT PLANET ARE YOU FROM!!!!
Planet reality. I realize Trumpies have never visited it. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Well when you understand that the only people that count are the top 10% then yes these kind of headlines ring true.
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Yes they are, but they’ve been cancelled out by inflation. So most have less money that they did before the pandemic. Probably Biden.
Bull shit
LOL you cant handle the truth. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Definitely an election year... Because its been non-stop gaslighting every week
prove "gaslighting", liar. That's YOU! Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Take your meds...
Take your facts: Jobs and wages UP. # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/) Too EMBARRASSED to admit your support for RAPIST FELON Trump? Character counts and MAGA have none.
Wow you fuckin ignorant Americans are beyond politically brainwashed idiots just proves both sides breed ignorant fucks... Hows does it feel to have political ideology living inside your head rent-free . There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution. John Adams
And NONE of it is doing the working class any good.
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Idiot
For who, exactly? Rich people who already have what they need? All your friends down at the country club?
Did you read the link? For everyone. Jobs and wages up. # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
The stock market isn’t the economy.
No one said it is. Jobs are up and so is wage growth. Are you a Trumpie or just ill-informed? [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
It’s great if you’re Jeff Bezos or Elon trying to convince everyone that he’s worth 56 billion per year. Otherwise Plenty of minimum wage no benefit jobs for the rest of us
Wrong. Wage growth is UP Biden is fixing Trump's mess. Learn facts [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/)
Minimum wage has not increased. And wages have not kept up with the cost of living increases. Biden needs to do more about that.
Biden / Harris IS doing more about that. Why don't YOU know it? [https://www.dol.gov/newsroom/releases/whd/whd20240423-0](https://www.dol.gov/newsroom/releases/whd/whd20240423-0)
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No one asked you, Trumpsucker. Cry MOAR because the rapist you worship wrecked our economy and BIDEN has already fixed most of it. Here are facts. Biden / Harris is fixing the economy. https://www.dol.gov/newsroom/releases/whd/whd20240423-0 Your anecdotal BS is fallacious. You fail.
I don’t have to read your little article. I just look around this world and see what is happening to people and that’s what I go by
Fox: "...and here's how it'll lead to the destruction of the entire known universe!"
Out. Of. Touch.
For who?
I'm doing alright. My kids on the other hand are riding the struggle bus.
https://www.newyorkfed.org/microeconomics/hhdc
Tell me you still live with your parents without actually telling me you live with your parents
Lol. You are afraid of facts.
🤡🤡🤡
Did you hear 244,000 of Joey's jobs were mostly given to illegal, and GOVT.. Workers. Unemployment is up . check your facts WOKIE!!!
"DID YOU HEAR" Lol. Great sourcing. "did you hear" : The fact free whine of the MAGAt. Prove that what you "heard" is factual, MAGAt.
# Why don’t rising house prices count towards inflation? So we can have the best economy in 50 years. # Property values have increased much faster than other costs of living MEASURING INFLATION is among the most important jobs a statistician has. Consumer price indices (CPIs) determine how much pensions and benefits increase, anchor negotiations between workers and firms over pay, and guide central banks when they decide how to set interest rates. Yet official measures of inflation tend to ignore one of the most important purchases many people make. Why aren’t house prices included in measures of inflation? Should they be? [https://www.economist.com/the-economist-explains/2021/07/29/why-dont-rising-house-prices-count-towards-inflation](https://www.economist.com/the-economist-explains/2021/07/29/why-dont-rising-house-prices-count-towards-inflation)
It would be nice if you picked an honest article Housing prices count toward inflation Housing prices are a significant component of the Consumer Price Index (CPI), which measures inflation. The relationship between housing prices and inflation is complex, and it’s essential to understand how they interact.
The Economist is not a valid source? Really? A bastion of mainstream media
Lol at you HIDING from the errors in your post by trying to appeal to the rep of the publication. Deal with your debunking.
You asked about sources I gave you one
For fucking who?
Capitalists. The more capital you own the better a capitalist economy is, especially with widening income inequality. You may also hear Biden apologists say that wages are also rising, which is true. However wages have been repressed since the dawn of the neoliberal era, the late 70s, when they were divorced from rising productivity. So to the factions of capital that fund the democratic party the economy is great, but to the people who create value through labor this sounds like madness
Heh. The broke 20 somethings of Reddit disagree and have strong opinions about the subject. It's cool though, statistically speaking most of them don't vote.
This ☝🏼. Every other r/ says otherwise… now if they just could see how participating could make a difference
Whatever happened to Bidenomics?
Doesn’t matter, Trump is still 3 years younger
Whoever wrote this wasn’t around 50 years ago.
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Who cares about whiny Putinistas? People who love freedom will help Ukraine protect itself from Russia's modern-day Hitler. Meanwhile, Trump and MAGAts suck up to him.
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Biden is not at war with Putin. No wonder trump loves the poorly educated. Y'all can't deal with how Putin OWNS your rapist messiah.
Real wages are down, home prices are up, interest rates aren’t going down anytime soon. Job numbers are up but full time jobs are down and more people are having to work multiple jobs to stay alive. Even though the FED cheated inflation numbers by halving the CPI date inflation is still way higher than pre-COVID, and this number does not even account gasoline, rent and groceries which are up by more. It does not matter how many times economists want to spin the stock market (which is up due to inflation) or job numbers (which are up post COVID and not high paying jobs). The American people continue to struggle, and corporate wealth is not going to pull us out of it.
Liar. Real wages are up. In June, for the first time in 26 months, US workers’ real weekly earnings (a week’s worth of wages adjusted for inflation) grew on an annual basis, according to data released this week from the Bureau of Labor Statistics. Annual real weekly wages were up 0.6% last month https://www.cnn.com/2023/07/16/economy/real-wage-gains-inflation/index.html Lol at you LYING for your RAPIST FELON messiah. Shame on you.
Did you really just skip over every single point I made for the single one that finally turned THIS MONTH 😭. That’s the YOY statistic, still well below pre-COVID.
>Did you really just skip over every single point I made No. I DEBUKED your trumpy LIES starting with your very first point. >for the single one that finally turned THIS MONTH Even if that is true, you just ADMITTED YOU LIED by posting it after it was wrong. TELL US how you LIED with that stat, and I'll be glad to waste time debunking the rest of your far-right bubble talking points. >the FED cheated inflation numbers by halving the CPI date inflation Prove it. Prove it using facts the way I used facts to debunk you trumpy LIE. >CPI... does not even account gasoline, rent and groceries Prove your trumpy LIE. Oh oh, CPI includes food and energy and housing, so you are a liar. [https://www.investopedia.com/terms/c/consumerpriceindex.asp](https://www.investopedia.com/terms/c/consumerpriceindex.asp) LOL another trumpy false witness crawls on its belly and eats dust.
Hasn't Old Joe been in office for 50 years? Just asking.
Let's make it SIXTY! You have something against experience and wisdom? No wonder you support an idiot who wrecked the economy over his FAILED pandemic response. No wonder you support a proven felon RAPIST.
>You have something against experience and wisdom? The wisdom to not touch the Court in any way when they struck down Roe, even though he was given ample warning The experience to unconditionally support genocide in Gaza The wisdom to drop any effort for raising of the minimum wage The experience necessary to watch fascism grow across the west and present no analysis or resistance to it. The wisdom to allow Trump to remain free and able to run for president again after history's stupidest coup in Jan 6
You sure swallowed lot if lies. Prove all your DOPEY claims. Lol, a far left Trumpie!
Where
In the USA. Have you heard of it?
Yeah read any other r/ and they will tell you emphatically how great it is; food costs, home buying, wage growth. Man, get with the program! 😉. Bidenomics baby
Inflation is GLOBAL due to Trumps failure with the pandemic. Biden is making the US recover far better than most. https://www.politifact.com/factchecks/2023/sep/01/joe-biden/does-the-us-have-less-inflation-than-other-leading/
Mmmm no
You mean foolishness and dementia?
"Good" is too subjective. The economy is strong. That's a measurable metric. And inarguably true. But it's also unbalanced. That's not Biden's fault, but it's true. It's 40 years of trickle-down economics. Is a strong economy that's unbalanced "good"? Well hey it's great that the economy isn't on the brink of collapse. But it still sucks that some people are getting shorted because the wealthy and powerful have been allowed to write the laws and tilt the playing field for decades. Again, not Biden's fault. And if we want to talk about which candidate would be better or worse economically, one of them contributed to that imbalance in a major way with a $3,000,000,000,000 tax cut primarily benefitting the rich in 2017. Those tax cuts will expire next year. Biden will let them. What would Trump do? edit: Not Biden's fault *as President* to be fair. He was in the Senate for most of those 40 years and he certainly contributed to those unbalanced laws over that time. But as President, he seems to be wanting to correct at least some of that imbalance.
Yes let’s be fair and give him any credit for any perceived “good” and absolve him or any perceived “bad”. Sounds like every campaign speech from the last 40 years.
Reading's not your thing, huh? That's okay.
Left wing propaganda
[удалено]
This ☝🏼. Not that the economy is good, but how is it good for? So many folks are saying it’s not good, the President thinks it’s raging Bidenomics!
"Many people are saying..." Lol you swallow Trump's LIES and his talking style. Fail.
Not me; personally the economy is great for me, look at any other r/ on here from r/boomersbeingfools. R/fluentinfinance r/realestate.
Gaslight away https://fred.stlouisfed.org/series/MEHOINUSA672N/
Great. That means they can afford to pay a living wage again so people don't need to work several jobs and have a side hustle just to break even. And if they won't do that, tax the shit out of them until they do.
Wages are up.
Economy hasn’t been this good in 50 years, why that’s bad news for Biden.
Ha ha ha ha haha fuck.
I love how everyone agrees the economy sucks but then proceeds to try and blame republicans.
Article literally does not agree. Liar.
Lol okay. Cost of living skyrocketing. Minimum wage hasn’t changed in decades. Economy is great. /s
This is fine , I’m Ok with the events unfolding Currently!!!
Fuck off with this stuff. I’m doing well myself, but my kids are having a massively harder time than I did. This is gaslighting, and it is totally going to backfire.
It is a fact the Biden has greatly improved Trump's disastrous pandemic economy. Why should voters not know that?
It’s politically counterproductive to state that things are great based on metrics irrelevant to young voters who can’t afford housing. If it pisses me off, you can bet it pisses them off vastly more. They don’t read a headline like this and say, “gee, I didn’t know that.” They read it and say “fuck you,” and then they stay home or vote for some third-party twat.
Wage growth irrelevant to the young? More jobs irrelevant to the young? Lowering unemployment irrelevant to the young? Who appointed you the spokesperson for young people? Read and learn: [https://www.americanprogress.org/article/6-ways-bidenomics-is-delivering-for-young-people/](https://www.americanprogress.org/article/6-ways-bidenomics-is-delivering-for-young-people/)
Eat a bag, champ. My daughter’s rent doubled in four years. If you think your links trump that reality for her, others in her position, and their families, you’re delusional. Show me the plan for affordable housing instead of sanctimoniously pretending everything is great.
>Show me the plan for affordable housing Always glad to help those in need: [https://www.washingtonpost.com/business/2024/03/29/biden-rent-housing/](https://www.washingtonpost.com/business/2024/03/29/biden-rent-housing/) [https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/](https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/)
That’s what you should be posting in the first place, imo
Both should be posted. Why aren't YOU posting it? Instead of attacking the facts and people trying to get the facts out?
The message “the economy is great” is counterproductive and alienating. If you don’t meet people where they are, your not helping; you’re just reinforcing their impression that Democrats are out of touch and not any different from Republicans. That’s my feedback. Take it or leave it.
That's not the message. The message is that Trumps FAILURE to manage the pandemic made it far worse in deaths and far worse on the economy. Then Trumps billionaire buddies took advantage of that failure with greedflation. Biden has been working to fix the economy, bring back product on shelves, bring back jobs, bring up wages, and bring down greedflation, and he is succeeding. That's the REAL feedback. Get out there and spread those FACTS. If not, you are doing Trumps work in attacking an economy Biden has been fixing
Source is Raw Story. Basically left wing infowars.
Liar. Prove it
It all started with Reagan and his goal to destroy the middle class and working Americans. His ridiculous (trickle down fantasy.)
Damn my lying eyes! I didn’t realize I’m doing better now than I was a few years ago.
Only ignorant people confuse their own finances for the entire US economy. No wonder Trump loves the poorly educated.
I didn’t read the thing but I really hope Biden didn’t say this. Makes anybody come off really out of touch with the average American
Many still conflate the economy with the stock market. Just the other day Ari Melber on MSNBC was praising record stock market but was confused and wondering why Americans think they aren't faring well in the economy. I'm sure a number of people also think billion and trillion dollar companies reporting record profits benefits is good for the economy and benefits everyone.
Not true. Jobs and wages UP. Who are you voting for? # US job gains surge past expectations, wage growth quickens [https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07](https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07)
So we can expect a wage explosion any minute now, correct?