lustylad please explain the logic of the Florida Governor's logic in giving out 450 dollars...

[Tiny]

Originally Posted by WTF

Now you know why I called you a Trump convert!

Boy if I did know better my head would still be spinning after reading that distortion on steroids!

Distortion on steroids? It's simple. IT'S CALLED HIGH SCHOOL MATH. Take the average of 2.3% and 2.9%. Add to one and raise to the 40th power. Subtract 100%. Do the same for 1.6% growth. Compare the results.

And you should show some APPRECIATION. And some GRATITUDE. I gave you a gift today. And this is how you repay me.

[Tiny]

Originally Posted by Jacuzzme

Fuck the entire idea of “income inequality”, it’s just stupid. Some people are just smarter, more motivated and hard working than others and nothing is going to change that. The only way to make income more equal is to make everyone equally poor. That’s been tried and ends up with millions in chains or worse.

If you kneecap the overachievers everyone's worse off. Who's going to do the work and take the risks in this country?

And yeah, theoretically Communism would be the great equalizer. But it hasn't worked out too well has it.

[Submodo]

Originally Posted by Jacuzzme

Fuck the entire idea of “income inequality”, it’s just stupid. Some people are just smarter, more motivated and hard working than others and nothing is going to change that. The only way to make income more equal is to make everyone equally poor. That’s been tried and ends up with millions in chains or worse.

Yeah, those Walton heirs, 7 people worth a (reported) total of 250 billion, are just so much smarter and hard working.

[Tiny]

Originally Posted by Submodo

Yeah, those Walton heirs, 7 people worth a (reported) total of 250 billion, are just so much smarter and hard working.

Well you can always move to North Korea.

I suspect Jacuzzme was referring to everyday Americans who are busting their asses and working smart. Plumbers, doctors, small businessmen and the like.

However, since you bring it up....

The wealthiest Americans are Elon Musk, Jeff Bezos, Bill Gates, Warren Buffett, Larry Page, Sergey Brin, Larry Ellison, and Steve Ballmer. These men created companies like Tesla, Amazon, Microsoft, Google and Oracle. We're better off because of them.

Walmart stock would account for most of the wealth of the Walton's. Americans who shop there, like me, see their dollar go farther. Walmart employs lots of people and pays lots in property taxes and income taxes. I'd highlight sales taxes too, which dwarf their net income, but Texas Contrarian would slap my hand.

A small percentage of Walmart's revenues trickles down to the Walton's in the form of dividends. And those probably mostly get reinvested in America.

[1blackman1]

You should shop at Sam’s. Better deal than a Walmart. I’m a Costco guy myself.

[WTF]

Originally Posted by Tiny

Uh, haven't I already read this somewhere before?

The only reason you say that 2018 and 2019 were unmitigated failures is because Trump, a Republican, was president. GDP growth of 2.3% to 2.9% isn't bad. Compare to 1.6% average under Obama, during which time the USA was rebounding (very anemically) from a bad recession.

If you could maintain 2.6% GDP growth (average of 2018 and 2019) for 40 years, then the economy would grow by 179%. If you just do the 1.6% average during the Obama administration, that's just 88% growth.

That's not to say that who's president has much to do with GDP growth. It doesn't.

Originally Posted by Tiny

Distortion on steroids? It's simple. IT'S CALLED HIGH SCHOOL MATH. Take the average of 2.3% and 2.9%. Add to one and raise to the 40th power. Subtract 100%. Do the same for 1.6% growth. Compare the results.

And you should show some APPRECIATION. And some GRATITUDE. I gave you a gift today. And this is how you repay me.

The distortions are the numbers you selectively plugged in.

How about you use the Trump GDP 4 year average...much like you used the Obama entirety GDP average.

While your at it take into account the trillion dollar deficits Trump was running even BEFORE the pandemic and plug the added cost that will cost in intrest payments especially with intrest rising back to it's normal historical levels.

I do appreciate you posting such simple distortions that even a non economic guru like myself can easily refute.

So yes, I agree you used simpleton math ,I'm just pointing out the distorted numbers.

[Tiny]

Originally Posted by 1blackman1

You should shop at Sam’s. Better deal than a Walmart. I’m a Costco guy myself.

The Walmart is more convenient to where I live. We don’t have a Costco here. Wish we did, my sister loves it

[Tiny]

Originally Posted by WTF

The distortions are the numbers you selectively plugged in.

How about you use the Trump GDP 4 year average...much like you used the Obama entirety GDP average.

While your at it take into account the trillion dollar deficits Trump was running even BEFORE the pandemic and plug the added cost that will cost in intrest payments especially with intrest rising back to it's normal historical levels.

I do appreciate you posting such simple distortions that even a non economic guru like myself can easily refute.

So yes, I agree you used simpleton math ,I'm just pointing out the distorted numbers.

I used the numbers from your post, 2.3% and 2.9%. And averaged them. Like I said, who’s president doesn’t make much difference in GDP growth. My argument with what you implied in the earlier post was that 2.3% to 2.9% is low. It’s not. And your claim that 2018 and 2019 were unmitigated disasters. 2019 in particular was a great year for the Workingman— close to record low unemployment and sharply rising median household income.

And please remember my gift. To you. I agree about the deficits although I believe the Democrats are worse than Republicans about spending what we don’t have. Trump used to be a Democrat.

[WTF]

Originally Posted by Tiny

If you kneecap the overachievers everyone's worse off. Who's going to do the work and take the risks in this country?

.

Who did it BEFORE the Reagan tax cuts?

I love how the wealthy have brainwashed the masses to argue against the masses own best intrest!

What we we do without Elon? Answer....there'd just be another Elon.

So let us all quit the wealthy worship.

You may find it hard to believe but the country would be better off with a thousand Millionaires than one Billionaire.

[WTF]

https://finance.yahoo.com/news/gdp-g...121008953.html

Here’s a look at average GDP growth rates under the last six U.S. presidents:

Jimmy Carter (D): 3.25%

Ronald Reagan (R): 3.48%

George H.W. Bush (R): 2.25%

Bill Clinton (D): 3.88%

George W. Bush (R): 2.2%

Barack Obama (D): 1.62%

Donald Trump (R): 0.95%

In his first four years in office, Trump has had by far the lowest average U.S. GDP growth rate of any of the last seven U.S. presidents

[Tiny]

Originally Posted by WTF

https://finance.yahoo.com/news/gdp-g...121008953.html

Here’s a look at average GDP growth rates under the last six U.S. presidents:

Jimmy Carter (D): 3.25%

Ronald Reagan (R): 3.48%

George H.W. Bush (R): 2.25%

Bill Clinton (D): 3.88%

George W. Bush (R): 2.2%

Barack Obama (D): 1.62%

Donald Trump (R): 0.95%

In his first four years in office, Trump has had by far the lowest average U.S. GDP growth rate of any of the last seven U.S. presidents

Originally Posted by Tiny

That's not to say that who's president has much to do with GDP growth. It doesn't.

Originally Posted by Tiny

Like I said, who’s president doesn’t make much difference in GDP growth.

Do you want me to say it a third time?

Taking into account COVID, I'm surprised GDP growth from 2017 to 2020 was so high. I bet the USA growth during that period was higher than the majority of other developed countries. I don't have time to check it now though.

[Tiny]

Originally Posted by WTF

Who did it BEFORE the Reagan tax cuts?

I love how the wealthy have brainwashed the masses to argue against the masses own best intrest!

What we we do without Elon? Answer....there'd just be another Elon.

So let us all quit the wealthy worship.

You may find it hard to believe but the country would be better off with a thousand Millionaires than one Billionaire.

Wiping out the billionaire class, like Bernie Sanders wants to do, would not be good for the masses.

[WTF]

Originally Posted by Tiny

I used the numbers from your post, 2.3% and 2.9%. And averaged them. Like I said, who’s president doesn’t make much difference in GDP growth. My argument with what you implied in the earlier post was that 2.3% to 2.9% is low. It’s not. And your claim that 2018 and 2019 were unmitigated disasters. 2019 in particular was a great year for the Workingman— close to record low unemployment and sharply rising median household income.

I implied that it was a disaster compared to what was promised....3% GDP

That is why I have accused you of distortions.

You've copied lustylad's habit of using Obama's entire GDP average and selective on Trump numbers. Use Trump's entire GDP average...I've provided in the post above.

What you've actually argued is that Obama's last three years are comparative to Trumps first three.

[WTF]

Originally Posted by Tiny

Wiping out the billionaire class, like Bernie Sanders wants to do, would not be good for the masses.

If replaced by thousand of Millionaires?

Are you Loco?

There is a reason antitrust used to not be a dirty word....which was before the wealthy brainwashed the masses to argue against their own best intrest. You seem to be a shining example!

[Tiny]

Originally Posted by WTF

I implied that it was a disaster compared to what was promised....3% GDP

That is why I have accused you of distortions.

You've copied lustylad's habit of using Obama's entire GDP average and selective on Trump numbers. Use Trump's entire GDP average...I've provided in the post above.

What you've actually argued is that Obama's last three years are comparative to Trumps first three.

OK, I'll say it a third time. WHO'S PRESIDENT DOESN'T MAKE MUCH DIFFERENCE IN GDP GROWTH. Maybe if I elaborate it will sink in. You've got the business cycle, growth in the labor force, changes in productivity, changes in technology, globalization, investment, Congress, conditions in China and other countries, wars, Congress, epidemics (e.g. COVID) and lots of other factors that can affect GDP growth