It's the economy, stupid.

[O Really]

So it's not unusual for one President to try to blame a mess on the predecessor, in fact they usually run on those issues. But the interesting thing about Tru*p is that everybody lets him blame Biden for, for example, gas prices and housing costs yet nobody seems to expect him to have any solutions. If he's gonna say that it's Biden's fault gas prices went up right after he attacked Iran, shouldn't he also be expected to say "and I'm gonna fix it. I'm gonna..." But the closest he's come is just saying prices will "drop like a rock" after the election.

No, I don't expect Tru*p to be all of a sudden rational. It's just a continuing mystery why those who apparently think he can fix it never ask how.

[GoCubsGo]

Not being mentioned nearly enough is the price of heating oil for the upcoming winter.

Heating oil is basically diesel. It's gonna cost people a fortune to heat their homes.

GoElNinoGo!

[Vrede too]

Not being mentioned nearly enough is the price of heating oil for the upcoming winter.

Heating oil is basically diesel. It's gonna cost people a fortune to heat their homes.

GoElNinoGo!

It's being mentioned in northern battlegrounds ME, MI and NH. Voters are filling their tanks right now.

[neoplacebo]

Noticed this story about how the US economy performs under Democrats and under Republicans.

https://www.yahoo.com/news/politics/art ... 08708.html

[Vrede too]

Noticed this story about how the US economy performs under Democrats and under Republicans.

https://www.yahoo.com/news/politics/art ... 08708.html

:thumbup:

... Since the Republican President Dwight Eisenhower, about 70% of all jobs have been created during Democratic administrations, and in recent decades, the percentage is more than 90%. Of the 11 recessions the country suffered between 1953 and 2020 — when the pandemic began — 10 began while a Republican was in the White House.

Although he had once headed the Screen Actors Guild, Reagan kicked off the GOP's modern union-busting zeal, treating union members as badly as he did university kids, our infrastructure of the future, as governor of California. This points to another factor that macroeconomic statistics do not tell us: Democrats are not only better stewards of the economy, but they also want the wealth created by American workers to be shared more equitably and for the social safety net to be made more robust, so Americans can better weather any financial vicissitudes.

Democrats also understand that the economy depends on healthy, educated, informed workers, and that the performance of parents in the workforce increases when they have access to affordable quality childcare.

:-||

... As Salon's Amanda Marcotte recently noted, the right's perversion of the message of Jesus knows no bounds; to justify their greed and avarice, they are taught that it is inconceivable to be Christian and vote other than Republican, which is yet another colossal lie by the GOP....

:sick:

[Vrede too]

Not being mentioned nearly enough is the price of heating oil for the upcoming winter.

Heating oil is basically diesel. It's gonna cost people a fortune to heat their homes.

GoElNinoGo!

It's being mentioned in northern battlegrounds ME, MI and NH. Voters are filling their tanks right now.

AK and MT are apparently also now battlegrounds.

[neoplacebo]

And the Dakotas and Wyoming have winters that make rocks crack if they're dropped.

[Vrede too]

And the Dakotas and Wyoming have winters that make rocks crack if they're dropped.

Idk if the Diesel Disaster, the Fuel Oil Fool, is campaigning in them, too.

New Numbers Show Just How Badly Trump Wrecked the Economy

... Gas prices alone rose 9.1 percent in September, accounting for almost half of the overall price increase. Fuel oil, what most people use to heat their houses, also shot up 15.3 percent. That's the biggest increase since March, shortly after the beginning of the Iran war, which is still very much unresolved.

I didn't know that most people rely on it. FU, MAGA.

... The numbers we like go down, the numbers we don't like go up. So goes the economic world in Trump's second term, with no end to the trend in sight.

:angry-cussing:

[Vrede too]

Global oil prices hit highest level in 5 months amid attacks on ships, facilities
Global oil prices have climbed more than 55% since the outbreak of the Iran war.

Thanks, MAGA

[Vrede too]

Noticed this story about how the US economy performs under Democrats and under Republicans.

https://www.yahoo.com/news/politics/art ... 08708.html

Email 2 weeks before the election :

Giving America’s Children a Stake in the American Dream

Social Security Administration
Wed, Oct 21



Last year, President Donald J. Trump signed into law the Working Families Tax Cuts, which included a historic tax cut for America’s seniors. That law also created Trump Accounts, individual investment accounts for America’s children designed to grow with the U.S. economy and build long-term savings.

Today, nearly 70 million Trump Accounts are open for all American children. Parents and legal guardians simply need to claim their child’s Trump Account through the official Trump Accounts app, available to download for free in the Apple App Store and Google Play.

Once activated, the account can receive funds from family, friends, and employers, as well as gifts from generous donors. Tens of millions of accounts already have money contributed by donors in them, just waiting to be claimed.

At Social Security, we are informing families about how they can activate their child’s Trump Account—many accounts with money already in them. We are also communicating with parents of newborns about the one-time $1,000 contribution from the U.S. Treasury, available to children born between Jan. 1, 2025, and Dec. 31, 2028.

Trump Accounts are one of the most significant investments in the next generation of Americans in our nation’s history, by giving every American child a stake in our country’s success and a strong financial foundation for the future.

To learn more about Trump Accounts, visit TrumpAccounts.gov.

The Accounts may or may not be a good thing, but the timing is VERY suspicious.

[neoplacebo]

Noticed this story about how the US economy performs under Democrats and under Republicans.

https://www.yahoo.com/news/politics/art ... 08708.html

Email 2 weeks before the election :

Giving America’s Children a Stake in the American Dream

Social Security Administration
Wed, Oct 21



Last year, President Donald J. Trump signed into law the Working Families Tax Cuts, which included a historic tax cut for America’s seniors. That law also created Trump Accounts, individual investment accounts for America’s children designed to grow with the U.S. economy and build long-term savings.

Today, nearly 70 million Trump Accounts are open for all American children. Parents and legal guardians simply need to claim their child’s Trump Account through the official Trump Accounts app, available to download for free in the Apple App Store and Google Play.

Once activated, the account can receive funds from family, friends, and employers, as well as gifts from generous donors. Tens of millions of accounts already have money contributed by donors in them, just waiting to be claimed.

At Social Security, we are informing families about how they can activate their child’s Trump Account—many accounts with money already in them. We are also communicating with parents of newborns about the one-time $1,000 contribution from the U.S. Treasury, available to children born between Jan. 1, 2025, and Dec. 31, 2028.

Trump Accounts are one of the most significant investments in the next generation of Americans in our nation’s history, by giving every American child a stake in our country’s success and a strong financial foundation for the future.

To learn more about Trump Accounts, visit TrumpAccounts.gov.

The Accounts may or may not be a good thing, but the timing is VERY suspicious.

Today I got a letter in the mail from Donald Trump, President of the United States, telling me that he'd just given me $90 and bragging about his prescription drug website and soem other trumpy shit. It was dated Oct 9 and I got it today.

[GoCubsGo]

San Diego:
• Late November (Thanksgiving): Sunrise would occur around 7:27 a.m. (instead of 6:27 a.m.).
• Christmas Day: Sunrise would occur at 7:49 a.m. (instead of 6:49 a.m.).
• Early January (Peak Winter): The latest sunrise of the year would reach 7:51 a.m. (instead of 6:51 a.m.).
• Valentine's Day: Sunrise would occur at 7:33 a.m. (instead of 6:33

Chicago
• Latest Sunrise: Approximately 8:18 AM in early January (compared to 7:18 AM under standard time).
• Timeframe of Late Sunrises: The sun would rise after 8:00 AM for roughly 133 days across the winter season (spanning from December into February).
• Morning vs. Evening Trade-off: While mornings would be dark much later into the commuter and school hours, winter sunsets would shift an hour later, moving from around 4:20 PM to past 5:19 PM

Starting my winter depression early this year.

[Vrede too]

Today I got a letter in the mail from Donald Trump, President of the United States, telling me that he'd just given me $90 and bragging about his prescription drug website and some other trumpy shit. It was dated Oct 9 and I got it today.

It's the stupid economy.


From the MAGAt Chair of the Federal Reserve:

President Donald Trump Just Proclaimed, "Tariffs Don't Cause Inflation, They Cause Wealth," but Data From Federal Reserve Economists Show Otherwise

... Trumpflation (inflation specifically driven by Donald Trump's policies) is a genuine threat to the artificial intelligence (AI)-driven bull market.

... While speaking to an audience at a campaign rally in Montana ahead of the Nov. 3 midterm elections, Trump touched on inflation and the role his tariff and trade policy may have played in it. Said the president:

We don't have inflation, and tariffs don't cause inflation. You know what they cause? Wealth.

Although Trump insists that tariffs aren't contributing to persistently elevated inflation and are beneficial to the U.S. economy, reports from New York Federal Reserve economists show otherwise.

... While President Trump has frequently praised tariffs for bringing in extra revenue, New York Federal Reserve economists have found that the president's tariffs are doing more harm than good.

Donald Trump's tariffs are raising consumer prices, according to Federal Reserve economists

... According to the report, every percentage point increase in average tariffs equated to a quarter-percentage-point increase in consumer goods prices after one year. Economists estimate that Trump's tariffs have added 2.9 percentage points to goods price inflation by February 2026. Here's the kicker: economists estimate that goods prices would have modestly declined without the president's tariffs.

... The public companies that performed poorly on tariff announcement days were associated with declines in employment, labor productivity, sales, and profits from 2019-2021. In other words, the adverse effects of Trump's tariffs endured for years after they were enacted.

Trumpflation could do a number on the stock market

President Trump's tariffs are one of the two policies directly lifting consumer prices at the moment. The Trump-led Iran war is the other catalyst. The ongoing closure of the Strait of Hormuz has led to the largest energy supply disruption in modern times, sending gas and diesel prices soaring.

Federal Reserve policymakers have been left with little choice but to undertake only the fourth interest rate-hiking cycle of the 21st century. Fed Chair Kevin Warsh and 11 other members of the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds target rate by 25 basis points to 3.75%-4.00% on Sept. 16.

However, the FOMC's battle against persistently elevated inflation is far from over. Sticky core inflation, which excludes volatile food and energy costs, coupled with near-record-high diesel prices, will likely prompt several additional rate hikes over the next year....

Dozy Don always LIES, always. Thanks MAGA.

[Vrede too]

Another reason I shun crypto and most online financial management:

Binance hit by record $6.3 billion crypto hack: 'This was a complex attack', says CEO

[Vrede too]

‘Deepest possible partnership’: Canada and EU announce new alliance

Great job, MAGA . You're bad for business.

[Vrede too]

It's the stupid economy.

Tesla and 113 other companies paid no current federal income tax, but they still aren’t the biggest threats to the federal deficit, think tank warns

The effective corporate income tax rate is now the lowest it's been in decades, and a tapering revenue source for the U.S. government is raising concerns among some policy experts.

"decades"

More than 700 profitable corporations paid 10.4% in current federal income taxes last year, according to a recent report from the Institute on Taxation and Economic Policy (ITEP), a progressive think tank—less than half of the 21% statutory federal corporate income tax rate. More than 250 of those companies paid effective tax rates below 7%, and 114 companies—including Tesla, Walt Disney, United Airlines, and DoorDash—paid no current federal income taxes, the report said.

Slackers.

... Corporate tax revenue has plummeted under the Trump administration, which has ushered in a series of tax breaks meant to boost capital investments, even as corporate profits have soared. Treasury Department data released earlier this month showed about a 15% reduction, about $70 billion, in corporate income tax revenue to $381 billion in the fiscal year that ended Sept. 30. The drop is part of a more than 25% reduction in corporate tax revenue since 2024, when former President Joe Biden was in office.

Thanks, MAGA.

Diminishing corporate tax revenue has some policy experts concerned about a ballooning federal deficit and the U.S. government's ability to fund itself. The Congressional Budget Office projected President Donald Trump's One Big Beautiful Bill Act (OBBBA) would add $3.4 trillion to the federal deficit over the next decade, a result of a $4.5 trillion decrease in revenues offset by a $1.1 trillion decrease in spending. Meanwhile, corporate profits have soared to a record $4.7 trillion for the past 12 months through mid-2026, a 17% increase from the prior 12-month period.

Remember when cons used to be deficit hawks?

... Meta in particular has attracted scrutiny over how it has taken advantage of the R&D tax break. The tech company reportedly classified its AI data centers as experimental "pilot models," according to reports cited by senators, which would allow it to receive the tax break. Sens. Ron Wyden (D-Ore.), Sheldon Whitehouse (D-R.I.), Elizabeth Warren (D-Mass.), Catherine Cortez Masto (D-Nev.), Maggie Hassan (D-N.H.), Ben Ray Luján (D-N.M.), and Peter Welch (D-Vt.) wrote a letter to Meta CEO Mark Zuckerberg earlier this month demanding answers by Oct. 31 on how the investments Meta is claiming tax breaks for differ from routine costs for equipping data centers.

"The federal research credit can be a useful and necessary tool to support our nation's innovation economy and cutting-edge research," the senators wrote. "Subsidizing your A.I. data center build is not close to meeting this standard."

GoLibsGo!

Gardner expects this trend of leaning heavily on depreciation and R&D bonuses to continue because of the permanent features of the tax law Trump implemented.

"There's every reason to expect this to be the new normal going forward, unless the next Congress, the next presidential administration, decides to reverse them," he said....

Nothing will happen soon thanks to DonOLD's veto. The bleeding will be unchecked thanks to the current complicit RepuQ Congress.

Comments (1.7k)
As neoplacebo has pointed out:

During Eisenhower (a Republican) the corporate tax went up to 50%, wealth taxes went up to 90% and the country BOOMED. It was one of the biggest growth periods in US history. Profits were high and so was reinvestment, salaries on the 'C' suite were nothing like today's 325 times the average worker.

There has to be a balance. The companies making such huge profits are the ones that lay off workers every year, use loop holes to advance their profits and don't worry about the environment. Capitalism at its finest while the people who do the work pay the taxes.

GoBernie! and AOCGo

Thank President Reagan for this. Before him corporations paid 43 percent corporate tax. The rich used to be personally taxed 70 percent as Top Marginal Earners. This is when a man could go to work, purchase a home, afford two cars and his wife could stay home with the house. The rich person was still rich. He lowered their personal taxes to around 25 percent. Bush lowered those more.

Wouldn’t be as outlandish if the companies would share some of the profits through wage increases, cheaper health care or anything to benefit its employees financially!

Dreamer.

This is part of the reason our national debt is more than $40 trillion.

They pushed retirement on to you, then your medical, and now taxes and they are making record profits, and if they fail the government bails them out. We already have socialism it's just for companies.

[neoplacebo]

Yeah, it's amazing that during the time when the US was at its zenith (1945 -1970) millionaires and corporations paid their fair share of tax. What's even more amazing is the continued belief by Republicans that cutting taxes creates more wealth; it does, but only for the ones who already have more wealth. For fifty years I've been unable to figure out why this is not more openly discussed. Hell, the facts and statistics are available and they are not in any way ambiguous. damn

[O Really]

Yeah, it's amazing that during the time when the US was at its zenith (1945 -1970) millionaires and corporations paid their fair share of tax. What's even more amazing is the continued belief by Republicans that cutting taxes creates more wealth; it does, but only for the ones who already have more wealth. For fifty years I've been unable to figure out why this is not more openly discussed. Hell, the facts and statistics are available and they are not in any way ambiguous. damn

What makes you think they don't know? Seems to me they know exactly what effect they'll get from tax cuts. All the rest of the yammer about how it's good for everyone is just gas-lit smoke screen.