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Thread: Trump Effect - Household Income Hits 15-Year High

  1. #501
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    US soybean sales to China down 94 percent amid Trump tariffs: report


    “I’m trying to follow and figure out who the winners are in this tariff war,” said Greg Gebeke, who farms 5,000 acres outside of Arthur, N.D. “I know who one of the losers are and that’s us. And that’s painful.”
    Secretary of Agriculture Sonny Perdue said late last month that the Department of Agriculture will not extend into 2019 an up-to-$12 billion aid package that was announced to help farmers impacted by Trump's policies."Farmers are very resilient and adept in making their planning and marketing decisions based on the current market,” Perdue told reporters."These facts are known now ... So farmers, even under financial duress, will make their best business decision for 2019 without the expectation of a market facilitation program."
    An administration of the people. Create policy that destroys their livelihood, and then tell them they can figure out how to pull through it.

  2. #502
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    Trump’s “Incredible” Foxconn Deal Turns Out to Be a Another Massive Con Job


    The deal will cost taxpayers more than $4.5 billion in subsidies, but because manufacturing companies in Wisconsin are already exempt from paying taxes, “Foxconn, which generated a hundred and fifty-eight billion dollars in revenue last year, will receive much of this subsidy in direct cash payments from taxpayers”—the largest subsidy given to a foreign corporation in U.S. history
    It's estimated that this will create 3000 jobs, or $1.5 million per job. Real good use of money, for corporate welfare that is. Even if it created the original 13,000 stated, that's $350,000 per job.

    The town’s Village Board of Trustees has been using eminent domain to expel obstinate homeowners, forcing them to “sell at a price determined by the village.” They’ve been able to do so by decreeing the 2,800-acre area around the plant “blighted,” a designation typically reserved for property that is “detrimental to the public health, safety, or welfare,” but which the board has extended to include property that “impairs or arrests the sound growth of the community

  3. #503

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    Democrats takeover the US House and...

    The S&P500 is up today.

    The Dow Jones is up today.

    The Nasdaq Composite is up today.
    Last edited by KC; 07-11-2018 at 09:20 AM.

  4. #504

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    "Fake news. Sad!" - Trump

  5. #505

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    Quote Originally Posted by KC View Post
    Democrats takeover the US House and...

    The S&P500 is up today.

    The Dow Jones is up today.

    The Nasdaq Composite is up today.

    Yup. Just as I said earlier, markets were stagnant because of the election. Now that the midterm election is over things are back to normal.

  6. #506

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    Trump’s Stock Market Returns Actually Pale In Comparison To Most Of His Predecessors

    Dec 5, 2018

    Excerpt:

    “Putting aside the overall veracity of that statement for a moment, the simple truth is that President Trump is absolutely correct about that first phrase– the stock market is at an all-time high. It has made significant gains in President Trump’s two years, though nowhere near 50 percent. What President Trump fails to mention, however, is that pretty much every President since Herbert Hoover has been able to claim that the stock market is at an all-time high at some point during their presidency. With economic growth and inflation, it is just the nature of the beast.”

    https://www.inquisitr.com/5196128/tr...-predecessors/

    Bolding mjne
    Last edited by KC; 27-12-2018 at 05:40 PM.

  7. #507

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    Thanks KC

    From your link
    Catherine RampellPresidents don't control stock markets, market is not the economy, etc. Still, once upon a time, Trump used to brag that market gains were a good metric of his success.
    Here's how S&P 500 has fared under Trump vs. Obama, through comparable dates in their respective presidencies


    Obama got kicked in the shins by Bush's recession but even so, beat the pants off Trump. The chart ends just before the terrible December of 2018...
    Advocating a better Edmonton through effective, efficient and economical transit.

  8. #508

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    China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive - WSJ

    https://www.wsj.com/articles/chinas-...ve-11547439977



    China's weakening trade figures should concern us all - BBC News
    “Since the financial crash of 2008, China's leadership has sought to keep up its pace of economic growth through a massive expansion of lending.
    Debt as a proportion of the economy has soared, from 140% of GDP in 2007 to nearly 260% now.
    Infrastructure spending has mushroomed, with thousands of miles of new railways and dozens of new underground systems and airports constructed.
    China's economy is used to a hefty and regular dose of stimulus.
    ...”

    https://www.bbc.com/news/business-46865466



    Last edited by KC; 14-01-2019 at 09:05 PM.

  9. #509
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    It's almost like trade deficits are a direct result of the economic fundamentals of countries like savings and investment rates: https://www.economist.com/briefing/2...t-are-not-true

  10. #510

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    Don't worry, the benefits of the tax cuts will trickle down.

    In fact, tax revenue in general, and corporate tax revenue in particular, have dropped — an unusual event for an economy running at full capacity. Bloomberg’s Stephen Gandel recently crunched the numbers and found the tax cuts hemorrhaging revenue:



    Not only was the Republican assumption that zero revenue would be lost too optimistic, and not only was the more modest “dynamic” model that presumed just a trillion-dollar revenue loss too optimistic, but the “static” revenue model was also too optimistic. The tax cuts are losing more than forecasters predicted even when they assumed it would do nothing to encourage growth.


    And as for that spike in corporate investment last year? Alexander Arnon suggests the entire thing was caused by higher oil prices. As oil prices go up, energy firms invest more money in sucking it out of the ground. “The response to the rise in oil prices,” he writes, “explains the entire increase in the growth rate of investment in 2018.”

    http://nymag.com/intelligencer/2019/...a-failure.html

  11. #511

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    Trickle down economics.

    Any economic plan with the first syllable is "Trick" is as obvious as the nose on your face...

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  12. #512

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    So much winning!

    Trump’s tariffs completely wiped out Harley-Davidson profits last quarter

    Bloomberg reports that Harley-Davidson “barely broke even” in its fourth-quarter 2018 earnings report, as the president’s trade wars with China and other nations continued to take their toll.


    Without the costs of the tariffs, the company would have posted earnings of $0.17 per share, which was a big miss compared to the consensus estimate of $0.29 per share. This was Harley-Davidson’s biggest miss of the consensus estimate since early 2009, when the entire country was reeling from the impact of the 2008 global financial crisis.

    https://www.rawstory.com/2019/01/tru...-last-quarter/

  13. #513

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    Suckers!

    ‘I trusted you!’ Trump voters seethe after realizing they’re getting screwed by the GOP’s tax plan

    Even though the 2017 GOP tax cut is leading to spiking federal deficits thanks to its generous benefits to corporations, many middle-class Americans are winding up having to pay more because the bill eliminated multiple deductions used by middle-class families to lower their annual tax payments.


    Among other things, the tax bill capped deductions for taxes paid to state and local governments, while massively increasing the amount of money you must donate to qualify for a charitable giving deduction.

    I am a Republican voter. I just did our taxes.


    The @GOP tax bill cost my family THOUSANDS of dollars this year on our return due to changes, thereby hitting us with the LARGEST tax increase of our lives.


    We are middle-class homeowners, and you raised our taxes.


    Infuriating!
    I have to pay $2000 MORE in taxes this year! What happened?? I voted for you and thought you were fixing this, not making it worse!? I thought I would get money back this year!?
    Voted for you . Family of
    2 hard working N.Y. cops. Did taxes for years we would pay more and get a refund at the end of the year to help pay debt . First time in 30 years We had to pay more in Federal
    Taxes. I’m disgusted
    https://www.rawstory.com/2019/02/tru...gops-tax-plan/

  14. #514

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    Where did the money go?

    Trumps "tax cut" adds $2 Trillion to national debt. Do the math. American families should see an average of $22,000 in tax cuts for a family of four over the past 2 years. Instead many are seeing less money in their tax returns.

    All they got was Trump Change...



    National debt tops $22 trillion for the first time as experts warn of ripple effects
    https://www.usatoday.com/story/news/...er/2849978002/
    WASHINGTON – The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.

    The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.


    The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in debt in the last 11 months alone.


    “Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable but accelerating,” said Michael A. Peterson, chief executive officer of the Peter G. Peterson Foundation, a nonpartisan organization working to address the country’s long-term fiscal challenges.

    Average tax refunds are down 8.4% in the wake of Trump tax cuts
    https://www.cnbc.com/2019/02/11/aver...-tax-cuts.html
    The total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018, according to the IRS.

    Only 13.31 million returns were processed, down 25.8 percent from the year before.

    The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.
    Advocating a better Edmonton through effective, efficient and economical transit.

  15. #515

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    I don’t know what the cumulative increase in jobs in the US has been (maybe 4 million new jobs?) but many jobs would pay more than $22,000/yr. Therefore those new workers would capture some of the money and so that would decrease returns the rest.

    Then there’s the nature of the tax cuts which everyone knew was going to benefit the rich more than the poor. Relatively massive amounts and proportions of the money paid in taxes and therefore not paid in taxes after tax cuts, related to the incomes of the rich. If you’re an average or low income American not paying a lot of the share of total taxes in the first place, how could you expect a great return from tax cuts?
    Last edited by KC; 13-02-2019 at 09:11 PM.

  16. #516

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    Quote Originally Posted by kkozoriz View Post
    Suckers!

    ‘I trusted you!’ Trump voters seethe after realizing they’re getting screwed by the GOP’s tax plan

    Even though the 2017 GOP tax cut is leading to spiking federal deficits thanks to its generous benefits to corporations, many middle-class Americans are winding up having to pay more because the bill eliminated multiple deductions used by middle-class families to lower their annual tax payments.


    Among other things, the tax bill capped deductions for taxes paid to state and local governments, while massively increasing the amount of money you must donate to qualify for a charitable giving deduction.

    I am a Republican voter. I just did our taxes.


    The @GOP tax bill cost my family THOUSANDS of dollars this year on our return due to changes, thereby hitting us with the LARGEST tax increase of our lives.


    We are middle-class homeowners, and you raised our taxes.


    Infuriating!
    I have to pay $2000 MORE in taxes this year! What happened?? I voted for you and thought you were fixing this, not making it worse!? I thought I would get money back this year!?
    Voted for you . Family of
    2 hard working N.Y. cops. Did taxes for years we would pay more and get a refund at the end of the year to help pay debt . First time in 30 years We had to pay more in Federal
    Taxes. I’m disgusted
    https://www.rawstory.com/2019/02/tru...gops-tax-plan/
    Can’t believe any of that. We heard the same things about the carbon taxes here by people totally clueless and mistaken about even their very own taxes. Still hearing it!

    Moreover, everybody knew that the tax cuts benefited the rich and that they were going to be paid through government debt.

  17. #517

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    Quote Originally Posted by KC View Post
    I don’t know what the cumulative increase in jobs in the US has been (maybe 4 million new jobs?) but many jobs would pay more than $22,000/yr. Therefore those new workers would capture some of the money and so that would decrease returns the rest.

    Then there’s the nature of the tax cuts which everyone knew was going to benefit the rich more than the poor. Relatively massive amounts and proportions of the money paid in taxes and therefore not paid in taxes after tax cuts, related to the incomes of the rich. If you’re an average or low income American not paying a lot of the share of total taxes in the first place, how could you expect a great return from tax cuts?
    Trump promised that the national debt would go down because he knew more about debt than anyone "bigly". The tax cuts did not stimulate the economy as promised. The job market grew slower under Trump than under Obama and the National Debt is growing faster than ever.

    Instead of reducing the debt, the Trump tax cuts reduced revenue and increasing costs of government have narrated the debt at an ever increasing rate. Republican trickle down economics since Reagan's failed stimulus has proven time and time again to increase the debt and benefit the rich. Statistics prove that only Democrats have been able to lower the debt.


    US national debt has increased $2 trillion since Donald Trump took office, new data shows
    President reportedly not concerned because 'I won't be there'


    https://www.independent.co.uk/news/world/americas/us-politics/us-national-debt-2-trillion-donald-trump-presidency-deficit-treasury-congressional-budget-office-a8710546.html
    The US national debt has increased by more than $2 trillion dollars since Donald Trump entered the White House, according to new data.
    Figures released by the Treasury Department showed the debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when Mr Trump took office.


    The debt stood represented 78 per cent of the US’s gross domestic product (GDP) in the fiscal year 2018, the highest percentage since 1950, analysis by CNN concluded.
    The deficit, which measures the difference between what the government spends and what it collects, rose to 3.8 per cent of GDP in 2018, up from 3.5 per cent in 2017.


    The national debt has been rising in the aftermath of the 2008 financial crisis, when Congress and Barack Obama approved stimulus funding in order to keep the economy afloat. When Mr Trump first took office, having vowed to reduce it to zero in eight years it, it began to go down.
    But analysts say it started to increase again as a result of a Republican tax cut, passed at the end of 2017, that a represented the largest of its kind in a generation.


    According to the Congressional Budget Office, debt could grow to 96 per cent of GDP (or $29 trillion) by 2028.


    “Three decades from now, for instance, debt held by the public is projected to be about twice as high in relation to GDP as it is this year—which would be a higher ratio than the United States has ever recorded,” it said in a new report.
    Trump Tells O'Reilly Tackling $21T Nat'l Debt Will Be 'Easy'

    Last edited by Edmonton PRT; 14-02-2019 at 06:44 AM.
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  18. #518

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    He’s probably hoping for a major stock market decline and market volatility to get everyone selling their holdings.

  19. #519

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    Trump thinks that the stock market is directly connected to the National Debt.

    No Mr. President, its not.

    http://www.usdebtclock.org/
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  20. #520

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    Trump promised that he could eliminate the debt, not just the deficit, in eight years.

    April 2, 2016

    DT: We’ve got to get rid of — I talked about bubble. We’ve got to get rid of the $19 trillion in debt.


    BW: How long would that take?


    DT: I think I could do it fairly quickly, because of the fact the numbers . . . .


    BW: What’s fairly quickly?


    DT: Well, I would say over a period of eight years.

    https://www.politifact.com/truth-o-m...-debt-8-years/

  21. #521

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    Trump could not even run even one of his four casinos with a profit and went heavily into debt.

    Who in their right mind would trust Trump to run the US government?
    Advocating a better Edmonton through effective, efficient and economical transit.

  22. #522

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    Quote Originally Posted by Edmonton PRT View Post
    Trump could not even run even one of his four casinos with a profit and went heavily into debt.

    Who in their right mind would trust Trump to run the US government?
    Angry upset people who feared the loss or further degradation of their lifestyles.... people who think that “others” are the source of their problems. Also.... lots of old white men and the women who believe making statements about sexual assault is ok as well as “just part of the job” cause men will be men.

    That’s who.

  23. #523

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    Yup, xenophobes, racists, bigots and subservient patriarchs who desire an American monarch. Also known as "Trump's Base"
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