2Q US GDP increases at huge 4.1% rate

[Crazyhole]

So, what is worse:
A. This woman stating that we need to tax the ultra-wealthy more and cut spending so our country can get out of the massive debt we have created.
or, B. 85, and Republicans, being in complete denial that we have an outrageously regressive tax scheme in our country that taxes the middle and lower classes more than the ultra-wealthy?

Id say at this point we have reaped the benefits of a low capital gains tax about as much as was possible and now it needs to be readjusted. If nothing else it should be the same rate for investment income as it is for earnings. It was fine to encourage investment for a while but we have reached the point where wealth accumulation is a serious problem and we need to encourage spending those dollars somehow. I'm not a fan of taxing earnings at all but we know that it will never go away so just make it as flat as possible. Beyond that, its more important that if the economy truly is starting to pick up that we cut as much federal spending as is possible, not just to balance the budget but also to address prior debt.

 

[Crazyhole]

Smh. The video itself

As soon as she said we need to tax corporations more it was over. Why do people think that corporate earnings arent taxed? Any dividend or profit paid out is taxed at the end earner, be it a C corp or subchapter S. What she is advocating for is actually a much more regressive tax than even sales tax.

Either she is ignorant, or she listened really close to her professors in college.

 

[sk8knight]

According to economists and liberal brain trusts in 2016, we should be in economic collapse right now due to a Trump administration.

 

[UCFKnight85]

As soon as she said we need to tax corporations more it was over. Why do people think that corporate earnings arent taxed? Any dividend or profit paid out is taxed at the end earner, be it a C corp or subchapter S. What she is advocating for is actually a much more regressive tax than even sales tax.

Either she is ignorant, or she listened really close to her professors in college.

She's just like chemmie. Her and him go to the same blogs for their economics. Scream about rich people, demand the government provide most everything in life for free, and claim that we can raise $2T/year simply by having people "pay their fair share".

 

[Crazyhole]

She's just like chemmie. Her and him go to the same blogs for their economics. Scream about rich people, demand the government provide most everything in life for free, and claim that we can raise $2T/year simply by having people "pay their fair share".

I think there is a difference between recognizing that there is a problem, and throwing out rehashed and disproven theories of the past as a solution. To not see that there is a problem with wealth consolidation is just sticking your head in the sand. Conversely, offering up the same old talking points with the same old socialist solutions is another.

If there is a free market solution to this issue then I'm sure that most people would be on board with it, including chemmie.

 

[goodknightfl]

The only way it stays that high is if Trump gets those tariffs back down or eliminates them completely, particularly from Canada and the EU. There was a massive purchase of products by EU countries just before they implemented those tariffs against us which may be driving 2nd q up.

the EU has already surrendered to Trump, the goal is no tariffs, and no subsidy's other than auto. The tariffs will be short term..

 

[UCFKnight85]

I just listened to NPR podcasts and had to laugh when the hosts had to begrudgingly admit that 4.1% growth is fantastic news. They don’t even attempt to hide their bias.

 

[sk8knight]

the EU has already surrendered to Trump, the goal is no tariffs, and no subsidy's other than auto. The tariffs will be short term..

Must be horrible for them to surrender to somebody that is so stupid that they have to build children’s charts to explain economics. Because someone who built a multinational multi billion dollar business empire obviously has no idea how international trade works.

 

[UCFBS]

So, what is worse:
A. This woman stating that we need to tax the ultra-wealthy more and cut spending so our country can get out of the massive debt we have created.

Wait?!

You're saying if we just tax the 'ultra-wealthy,' we can get another $2.5T/year in revenue?!?!?! That's $1T for the deficit, plus the additional $1.5T socialists are argue we need to spend.

Where is that revenue really going to come from?! Seriously?! Can a single person tell me how we can raise that revenue ... without just taxing assets that have already had taxes collected on them?

When socialists answer that ... quantitatively ... I'll listen. Until then, I'm tired of hearing about how much 'revenue' we could get by taxing the ultra-wealthy. No, even Bill Clinton / Al Gore realized ... you must increase taxes on the middle class too.

There's just not enough from the ultra-wealthy. Even bank CEOs only make 7 figures. So even if we jack their taxes up to 80-90%, and take $2.5M/year from them, we'd have to find 1 million such people to get that much money from.

To get $2.5T/year in additional revenue. This is why socialists go full retard, because they suck at math.

or, B. 85, and Republicans, being in complete denial that we have an outrageously regressive tax scheme in our country that taxes the middle and lower classes more than the ultra-wealthy?

That's just demonization BS.

 

[firm_bizzle]

Dems like me? Please. Just because I'm pointing out the fact that 4% growth isnt actually 4% growth it doesnt make me a dem.

In reality, the economy was recessionary for almost the entire 8 years under Obama. There were, and still are no legitimate factors that bring us actual growth. We are experiencing the results of the counter cycle monetary policies of 2008-2012 and the continuation of Keynesian fiscal policies of the last 17 years.

Don't worry. KL is just a Trump bot that will humble himself in the next GOP primary. #takebacktheGOP

 

[UCFBS]

Don't worry. KL is just a Trump bot that will humble himself in the next GOP primary. #takebacktheGOP

I didn't get the feeling he was a Republican, but far more of a common sense moderate.

But then again we've got people like you accusing Democrats of being Trump supporters these days because they said something positive about any person in the Trump family.

 

[chemmie]

I think there is a difference between recognizing that there is a problem, and throwing out rehashed and disproven theories of the past as a solution. To not see that there is a problem with wealth consolidation is just sticking your head in the sand. Conversely, offering up the same old talking points with the same old socialist solutions is another.

If there is a free market solution to this issue then I'm sure that most people would be on board with it, including chemmie.

Haven't you realized you're dealing with idiots here, yet?

 

[UCFKnight85]

Haven't you realized you're dealing with idiots here, yet?

Such as yourself

 

[UCFKnight85]

It’s sad that the typical partisans here are willing to be anti-American and crap on strong economic results simply because it’s the result of Trump policies

 

[fried-chicken]

It’s sad that the typical partisans here are willing to be anti-American and crap on strong economic results simply because it’s the result of Trump policies

No one thinks businesses aren't making money under Trump, simpleton.

GDP up 4% real wages down 2%

 

[Crazyhole]

It’s sad that the typical partisans here are willing to be anti-American and crap on strong economic results simply because it’s the result of Trump policies

I dont know that I would go that far. Im generally pretty bullish on Trump thus far but when its comes to economics I have no room for politics. Is it better than we've seen for 8 or 9 years? Yep. Does the number tell the entire story? Not at all.

 

[Crazyhole]

No one thinks businesses aren't making money under Trump, simpleton.

GDP up 4% real wages down 2%

Sorry, but this is going to be a necessary part of an actual reset. It will eventually balance out.

My biggest concern going into the Trump administration was that his economic policies were going to drive inflation way up and the lower end earners were going to have a really tough time in the interim. Its happeneing but FWIW I thought it would be way way worse than this.

 

[UCFKnight85]

No one thinks businesses aren't making money under Trump, simpleton.

GDP up 4% real wages down 2%

Your last sentence is an absolute lie unless you care to prove it. I bet you want everyone to think that in blind partisan rage.

I listened to NPR just today who said it was .2% and ONLY the inflation adjusted calculator and ENTIRELY due to higher gas prices. They even had to admit that real wages were UP under trump

 

[fried-chicken]

Your last sentence is an absolute lie unless you care to prove it. I bet you want everyone to think that in blind partisan rage.

I listened to NPR just today who said it was .2% and ONLY the inflation adjusted calculator and ENTIRELY due to higher gas prices. They even had to admit that real wages were UP under trump

https://www.payscale.com/compensation-today/2018/06/payscale-index-q2-2018

"Meanwhile, real wages that factored in inflation took a hit: Quarter over quarter growth was -1.8 percent, the biggest decline since Q2 2011. Year over year growth was -1.4 percent, the largest drop since Q1 2014. Due to the rapid rise of the Consumer Price Index (CPI),"

 

[fried-chicken]

Rapid rise of the CPI... golly, I wonder what caused that.

 

[UCFKnight85]

https://www.payscale.com/compensation-today/2018/06/payscale-index-q2-2018

"Meanwhile, real wages that factored in inflation took a hit: Quarter over quarter growth was -1.8 percent, the biggest decline since Q2 2011. Year over year growth was -1.4 percent, the largest drop since Q1 2014. Due to the rapid rise of the Consumer Price Index (CPI),"

So basically you have been presenting a lie as a fact.

 

[fried-chicken]

So basically you have been presenting a lie as a fact.

How so

 

[UCFKnight85]

How so

There are various indexes and measurement tools by various groups. MarketWatch below has the decline at .6%. The NPR economists surveyed yesterday had it at .2%. The Fed recently had y-y inflation adjusted growth in the positive since they use the PCE and not the CPI.

In other words, I think you ran with PayScale simply because it was the outlier that presented the most negative number possible. To crap on the strong economy.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/64340ABE-89E9-11E8-AC4F-E39F5C7A707D

 

[fried-chicken]

There are various indexes and measurement tools by various groups. MarketWatch below has the decline at .6%. The NPR economists surveyed yesterday had it at .2%. The Fed recently had y-y inflation adjusted growth in the positive since they use the PCE and not the CPI.

In other words, I think you ran with PayScale simply because it was the outlier that presented the most negative number possible. To crap on the strong economy.

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/64340ABE-89E9-11E8-AC4F-E39F5C7A707D

Wait, I can't use the CPI to find a change in real wages or I'm partisan?

 

[Knight_Light]

 

[EweSeaEff]

.5% was attributed to China making a huge buy of soybeans prior to their tarriff to stock up. 2% was govt spending, so the economy actually grew buy about 1.5% - inflation which was just under 1% last I checked. Thats about equal the rate of population growth so its legitimate, but it isnt 4%.

This.

 

[KnighttimeJoe]

This.

View embedded media

The comments on his tweets tho. Lol.

 

[Crazyhole]

This.

View embedded media

I wouldnt call it "stall speed", but we didnt really outpace population growth by much . Its still the best weve seen in years, but lets be realistic, its probably 1% real growth.

 

[chemmie]

In other words, Q4 2018 is officially time to pull out like you're 19 again.

 

[Crazyhole]

In other words, Q4 2018 is officially time to pull out like you're 19 again.

If I was a betting man, I would guess that q3 will be in the sub 2% range and q4 will be negative. 2019 will rebound if and only if trade agreeements move in the right direction. The stupid thing about it is that regardless of what the macro-economy does, the average person won't notice any difference personally. Employment will still be high and wages will still be relatively static but whatever GDP does will dictate the media narrative and it will just enhance feelings one way or another.

We are on the verge of a new normal. Hopefully people don't get too reactionary about it and go crazy on the political end of things.

 

[UCFKnight85]

Lmao

We get a 4.1% GDP report and every economist affirming that the economy is strong, and yet we have people trying to raise alarm bells and predict a near recession

 

[Crazyhole]

Lmao

We get a 4.1% GDP report and every economist affirming that the economy is strong, and yet we have people trying to raise alarm bells and predict a near recession

All of those economists said we were doing great under Obama.

 

[Knight_Light]

Key past and future indicator will be capital expenditure as those investments payout in goods made for years and years and years.

Overall Govt spending will never be reduced as voters will never allow that to happen.

 

[UCFKnight85]

All of those economists said we were doing great under Obama.

No they didn’t. At least not the balanced ones that I saw on CNBC and weren’t just partisans.

 

[chemmie]

85 is too wrapped up in being right, and the liberals being wrong, to see the forest through the trees. He is incapable of complex analysis of any situation.

 

[UCFKnight85]

85 is too wrapped up in being right, and the liberals being wrong, to see the forest through the trees. He is incapable of complex analysis of any situation.

Says the guy who asserted, as absolute fact, that I do not own any stocks.

 

[chemmie]

Says the guy who asserted, as absolute fact, that I do not own any stocks.

You're a buffoon of biblical proportions.

 

[UCFKnight85]

You're a buffoon of biblical proportions.

Let me summarize your time in this thead:

“Hey isn’t it great for American that the economy grew at 4.1%?”

You:

“WAHHHH!!!! TRUMP!!! Everything’s terrible!!!”

 

[NinjaKnight]

Says the guy who asserted, as absolute fact, that I do not own any stocks.

He literally never said anything remotely like what you are claiming.

Like usual, you are a massive, vibrating, lying, idiot.

 

[Crazyhole]

Key past and future indicator will be capital expenditure as those investments payout in goods made for years and years and years.

Overall Govt spending will never be reduced as voters will never allow that to happen.

Capital expenditures are no longer a good measure of economic growth thanks to automation. It isnt like the 60s and 70s when the vast majority was in buildings and property acquisition for future expansion.