Rednecks with money. Scares the hell out of liberals. Read Listen Liberal. It is about how the liberal elite has been trying to keep the working class down. Buzz words like climate change, DACA, and allowing more immigration have rednecks seeing red. Trump was the result. Trump will win again if the Democrats keep pandering to the left.
When you only have a hammer, everything looks like a nail.
So poverty rate sometimes fell coincidentally with tax cuts, often times well before the cutsâ onset. And somehow tax cuts are biggest reason why poverty rate fell? Maybe there are other, more important factors at play here? Ever consider that possibility?
Ever talked to the Midwest farmers looking desperately for farm hands? Did you ever get around hiring anyone for your farm?
All my farmer friends are either going to go out of business or will have to invest in more mechanical equipment. My Lodi buddy replaced 300 grape pickers with a $500k grape picking machine that picks 250k bottles worth wine grapes a day.
Farm Laborerâs in Ca now want $35/hr
I have one guy like that. The rest are volunteers.
I may just plow my 20 year old vines under. It costs me double what they are worth. Water, spraying pruning mowing picking. Costs 1/#. Going rate .5/#
I didnât say they are the biggest reason. However, the closest correlated item to poverty rate is GDP growth. Itâs an inverse correlation that the higher GDP growth is the lower poverty set gets. Tax cuts cause GDP growth.
Pretending the government can fix poverty through taxation and spending is insane. Weâve been trying for decades and the poverty rate stays within the same range.
There are will always be poor people. Many people make bad choices when young and are doomed to poverty. My own sister was one⊠no matter how much money my mom gave her.
The naïveté of liberals is that they think poverty is solvable. Since the 60s this nation has poured trillions down the rathole of social welfare, grants, gifts, free stuff, subsidies, affirmative action. None of it works.
People need to be encouraged or forced to work.
Look at all the people today that would rather collect unemployment than work. The more government gives the less incentive to work. And more poverty both physical and psychological will result.
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âTax cuts lead to economic growthâ is a religious belief that doesnât have much factual basis.
The tax rate on the average American family income hasnât really changed much over the years. It was around 21% in 1947 and stayed around there until the mid-1960s, when it drifted down a bit, floating between 16% and 19%. Rates stayed in that band for the next 30 years. The biggest move was in 2002, when the rate declined to around 15.5%, where it has more or less stayed to the end of the period, here 2015.
Over the same time frame, the nation had 11 recessionary periods. You donât have to be a Federal Reserve Governor to conclude that if tax rates were basically stable to moderately declining during the same time when there were several recessions, tax rates on the average American family werenât having much of an effect on GDP. The correlation of r = 0.19 reduces it down to one pretty weak number. The graph illustrates the lack of correlation over time.
Thatâs the effective tax rate. They also look at the top rate. Correlation is stronger at 0.25 but itâs still very weak.
Itâs literally happened every time we cut taxes. The impact is so profound that tax revenue increases despite lower rates. Then thereâs the OECD study which is over multiple decades across a bunch of countries.
Thatâs not even getting into how flawed their study is. Itâs far better indicator to look at growth rate the year before then the year of and after the tax cuts. You canât compare growth rates decades ago to grow other areas today. Far too many other variables have changed to isolate the impact of tax rates.
Obama preserved nearly all of Bushâs tax cuts.
Is that the âheads I win tails I win againâ school of economics?
When R is president: any economic success is because of my guy.
When D is president: any economic success is because of the last guy.
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You realize the most famous tax increase was the first Bush in 1990. Whatâs your graph say about that? The voters were so furious he was a one-term president.
Just responding to your post.
The propose of republican and democratic governments are exactly opposite. The democrats want to take over government to control the economy. The republic want to take control of the government to keep democrats out of government and economy.
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War is good for the market. Historically all our huge wars happened under Democrats. The miracle of Trump and Reagan is bull markets that happen in peacetime. Trump is getting us out of wars and not starting any new ones.
Not that I have have problem with Millennials who voted for Biden going off and dying in one of his wars, especially of it helps my stocks, but we would need to re-instate the draft.
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I would like to this millennial drafted
The army wouldnât.
On second thought - maybe she could be the decoy that lets all the important people escape trouble.
I have no idea. What does your crystal ball say?