Bidenomics still working.

Bidenomics is working. More and more jobs.

Whine all ya want Trumpys. It’s great that workforce participation is up. That’s a good metric which shows there’s more jobs and workers.

Geaux Biden Originally Posted by 1blackman1

I hope they are "Shovel Ready" Jobs to shovel out the Liberal Bullshit cause it's getting deep, lol.

It's true Salty! The Tax Cuts and Jobs Act (TCJA) in 2017 cut the corporate tax rate, so that America went from having the highest corporate rate in the developed world to the middle of the pack. The GILTI tax on foreign income realized by American corporations and provisions to encourage repatriation of cash from overseas were perhaps just as important in bringing jobs back to America from foreign countries.

Now it didn't happen instantaneously. You don't close down an operation in Ireland for example and move it to Austin the year after a tax cut. That takes time. But take a look at this. These are investing cash flows per share for the S&P 500 going back to 2017, the year before the TCJA took effect. They're negative because they represent money spent, mostly on fixed assets like property, plant and equipment, and intangibles like software.

2017 -141.34
2018 -138.90
2019 -181.10
2020 -214.82
2021 -221.41
2022 -226.86 Originally Posted by Tiny

I cut some of your post so this one wouldn't be so long, but just so I'm getting it right...you're saying that a measure Trump took in 2017 is now showing benefit in 2023, 6 years later? Yes, it takes time for things to take affect.



But WHO does that mean would be responsible for the economy during Trump's 4 years in office?? Originally Posted by 69in2it69

Me.







bahahahhahaaaaaa

[QUOTE=The_Waco_Kid;1063208760]

Me.



Not quite, but you can give him credit for 2021/22






bahahahhahaaaaaa Originally Posted by 69in2it69

The DJIA surged yesterday after the debt ceiling deal got done. Testla, Apple & Nvidia are stocks to own right now. Good post 1B1.

Thanks Sleepy Joe.

Thanks Kamala.

"Binen-omics" . . .my retirement finds have dropped as the DJI has dropped from aq high of near (really near) 25,000 to 23,000.

I am already retired and need that money to be there. . . .and even grow.

Compare the overall trend of any stock index from 2020-2023 to the same index in 2016 to 2019.

Compare the overall trend of any stock index from 2020-2023 to the same index in 2016 to 2019. Originally Posted by ICU 812

Between 2016 to 2019 there wasn't a pandemic. Between 2020-2023 you had Trump mishandling the Pandemic and Putin invading the Ukraine. Of course the DJIA and S&P 500 are not going to do as well. This past Friday institutional traders were buying up shares of Testla, Apple and Nvidia like there was no tomorrow. Tell your fund manager to make sure those three stocks are in your fund. Your fund may have a chance to get back to where it was. There was surge in the DJIA on Friday after Sleepy Joe got the debt ceiling deal done.

"Binen-omics" . . .my retirement finds have dropped as the DJI has dropped from aq high of near (really near) 25,000 to 23,000.

I am already retired and need that money to be there. . . .and even grow.

Compare the overall trend of any stock index from 2020-2023 to the same index in 2016 to 2019. Originally Posted by ICU 812

Did the 2015 pandemic adversely affect your 401K?

For the Biden supporters, can you you name any particular Biden policy enactments that have contributed so mightily to our blockbuster economic rebound? Other than easing Covid restrictions?
Please show your work.

For the Biden supporters, can you you name any particular Biden policy enactments that have contributed so mightily to our blockbuster economic rebound? Other than easing Covid restrictions?
Please show your work. Originally Posted by Ducbutter

Sleepy Joe has an economic recovery plan, Build Back Better.


https://www.nytimes.com/article/joe-biden-policies.html

paywall
Tax cuts for child care and transitioning to "clean" energy didn't do it.

https://www.whitehouse.gov/briefing-...%206%20to%2017.

I cut some of your post so this one wouldn't be so long, but just so I'm getting it right...you're saying that a measure Trump took in 2017 is now showing benefit in 2023, 6 years later? Yes, it takes time for things to take affect.



But WHO does that mean would be responsible for the economy during Trump's 4 years in office?? Originally Posted by 69in2it69

69in2it69, GDP growth and our general level of prosperity are affected by changes in technology, globalization, demographic changes like population growth, changes in productivity, the business cycle, Fed policy, events like the pandemic, what's happening in other countries, etc. And yes, the politicians and government make a difference. Not just who's president, but Congress, the bureaucracy, and leadership at the state and local level.

So trying to correlate economic performance in the long term with who's president doesn't make a lot of sense to me.

In the short term, yes, politicians can boost the economy with policies that affect aggregate demand. For example, that's what Biden and Congress did in 2021 with the American Rescue Plan (ARP). You send $1400 checks to most Americans and if they spend the money that should juice the economy. I'd argue though that the ARP backfired. It ignited inflation here in the USA, and added to our national debt. It's like a sugar high.

The TCJA was a long term fix. Take a look at this, and sort the countries in order by corporate income tax rate:

https://en.wikipedia.org/wiki/List_o...s_by_tax_rates

The average state corporate tax rate is 6.8%. Added that to the 35% federal rate, pre-TCJA, and we had a 41.8% average corporate rate in the USA.

That would be the highest in the world today!

The highest in the developed world is Australia, at 30%. And Australia has no tax on dividends paid by corporations, provided they're paid out of accumulated profits. (The USA taxes dividends at maximum rates of 23.8% to 37.1%, depending on the state.)

So when a corporation, U.S. or foreign, is looking at investing, why would it chose the USA, with a 35% to 46.5% rate (depending on the state) over, say Ireland, which has a 12.5% tax rate?

When you kick out petrostates and countries with less than a million people, the most prosperous developed countries in the world have lowest government revenues and expenditures as a % of GDP. That is, the governments are leaving more money in the private sector, in the hands of the people and businesses. That's the best way to grow an economy in my opinion. Republicans, while they are spendthrifts when they control the presidency and both Houses of Congress, come closer to this ideal than Democrats. Which is why I prefer Republicans over Democrats.

Put another way, Republicans are mostly believers in supply side economics. Provide the conditions for the private sector to grow and prosper, and the country will do well.

Did the 2015 pandemic adversely affect your 401K? Originally Posted by 1blackman1

I'm not sure what you're getting at. If it's that Trump caused the pandemic, well, that doesn't make a lot of sense.

If it's that the USA suffered disproportionately during the pandemic, let me know. I'll look at and post the GDP decline in all G5 nations during 2020. My guess is that the USA declined the least.

The DJIA surged yesterday after the debt ceiling deal got done. Testla, Apple & Nvidia are stocks to own right now. Good post 1B1.

Thanks Sleepy Joe.

Thanks Kamala. Originally Posted by adav8s28

I'd give more credit to McCarthy. Here's a good article, from a left-of-center publication, that would support that.

https://www.newyorker.com/news/the-p...freedom-caucus

The article says the deal will only save 650 billion, which happens to be about the same amount the New York Times was estimating a few hours after it was announced. The Congressional Budget Office however is estimating $1.5 trillion over 10 years. That ain't peanuts.

I would have liked to have seen more than $1.5 trillion cut. However, I agree it was a good deal for all, especially if you believe as Texas Contrarian does that we shouldn't be playing a game of chicken with payments on the national debt. I suspect there's nothing the Democrats had to give up that most reasonable Democrats would think was particularly worth saving.

More job more jobs more jobs. And for you Debbie downers, more people are entering or re-entering the job market as well. 300,000 more jobs. It’s looking good for Biden. Originally Posted by 1blackman1

Like your Mother always said, "WTF IS WRONG WITH YOU?"