The Biden Economy

[whell]

This is great news. It’s great what people will do when the Government stops paying them not to work.

[Chicks]

Originally Posted by whell

This is great news. It’s great what people will do when the Government stops paying them not to work.

Lol. You are SO predictable! ROLF. Straight party-line rubbish.

[RickeyM]

Originally Posted by whell

This is great news. It’s great what people will do when the Government stops paying them not to work.

Then why are so many business finding it so hard to fill vacancies? BTW, you do know that stimulus money and the expanded unemployment benefits ran out long ago. Gee whell, can't you do anything besides regurgitate Reich-Wing media talking points.

[Chicks]

Corporations Pay More, Middle Class Pays Less Under Dem Climate Bill: Analysis

https://finance.yahoo.com/news/corpo...230337778.html

...as it should be.

[whell]

Originally Posted by Chicks

Corporations Pay More, Middle Class Pays Less Under Dem Climate Bill: Analysis

https://finance.yahoo.com/news/corpo...230337778.html

...as it should be.

You do realize that corporations don't "pay" taxes, right? Sure, corporations write checks to the IRS, but unlike the government, since they can't print their own money, they have to manage their businesses via legit accounting tools like a P&L statement and a balance sheet.

To corporations, taxes are an expense. Expenses and income need to balance. So, when an expense, like taxes, rises, businesses have the option to reduce controllable expenses (like payroll, which is the largest controllable expense that most organizations have), or increase income.

The "climate bill" as you call it, was passed ostensibly to reduce inflation. If businesses are unable to sufficiently reduce expenses, then they'll need to pass along the cost to their customers, which of course is inflationary.

So, we're essentially trading a huge increase in government funding for the increased risk of inflation or losses in the job market. Is that what you're referring to "as it should be"?

[finnbow]

Originally Posted by whell

You do realize that corporations don't "pay" taxes, right?

And that's the nub of the problem.

At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States.

https://itep.org/55-profitable-corpo...corporate-tax/

[Chicks]

Originally Posted by whell

You do realize ... blah, blah, blah...

Let's hear from an actual, Nobel-winning economist, instead of a tiny-minded MAGAMoron, shall we?

Did Democrats just save civilization?
I’m pretty sure that Mitt Romney knows that he’s talking nonsense.

https://www.sltrib.com/opinion/comme...emocrats-just/

There are, of course, cynics eager to denigrate the achievement. Some on the left rushed to dismiss the bill as a giveaway to the fossil fuel industry posing as environmental action. More important, Republicans — who unanimously opposed the legislation — are shouting the usual things they shout: Big spending! Inflation!

But actual experts on energy and the environment are giddy over what has been accomplished, and serious economists aren’t worried about the effect on inflation.

[RickeyM]

Funny how those that espouse Reich-Wing the talking points that business have to cut expenses or raise income never mention the lucrative profits the corporations that pay no taxes have. It's a case of oh gee, we can cut expenses or raise income but don't lay a finger on our tidy little (ahem, large) profits. Same song and dance when it comes to increasing worker's pay. Gee, they'll raise prices if they raise wages. They just can't afford to touch those obscene salaries the top execs get.

[whell]

Originally Posted by Chicks

Let's hear from an actual, Nobel-winning economist, instead of a tiny-minded MAGAMoron, shall we?

Did Democrats just save civilization?
I’m pretty sure that Mitt Romney knows that he’s talking nonsense.

https://www.sltrib.com/opinion/comme...emocrats-just/

So, you posted from Krugman, the left's economist celeb. The guy who admitted he missed the latest round of heavy-duty inflation.

Hell, back in 2020 when Trump and company announced the first round of tax refunds under the PPACA, I looked at my wife one day and said "I don't know how the heck the US Gov't can dump trillions on the economy - and since they don't have the money they're just going to pretend they do - and not expect an inflationary outcome." I guess I figured it out 'cuz I don't have a Nobel prize but I did complete Econ 101.

[whell]

Originally Posted by Chicks

Let's hear from an actual, Nobel-winning economist, instead of a tiny-minded MAGAMoron, shall we?

Takes one to know one, Chicky!