Trump's Economy Still Unable to Rise above 3% Growth

Why do you believe that having a super low wage would automatically make employers employ more people or less qualified people? You dont think the majority of that "savings" would be spent elsewhere, such as the above mentioned technology. Most places you only need X ammount of labor hours to get the job done. Either that or a Company can streamline the previous process through a combination of technology and rearranging priorities and tasks. I mean ya I guess they could hire more people but like ive seen first hand then ya more people have jobs, but now the hours are divided up so it creates more part time work

 

Basic economics.

 

I guess my take on it is corporations shouldnt get to pay super low wages and then let government subsidize them through social programs because their workers cant afford anything.

There was a study done in Wisconsin from the article linked below that states a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers.

A company who had a gross income of $130 BILLION dollars and taxpayers have to subsidize their employees because they cant pay a higher wage and its not JUST Walmart

Great article a few years back on this subject https://www.forbes.com/sites/clareo...-2-billion-in-public-assistance/#b035ebb720b7

Anyway this is getting kind of off topic so im not going to comment further on it

 

That's just stupid. Who in their right mind would rather have a worker sit at home drawing full welfare benefits than working and drawing partial benefits if they qualified. Social safety nets are there for a reason - as a compassionate way to assist those just starting out in the job market on their way to economic independence. How will anyone sitting at home ever become economically independent ??

That article is a great example of defining an outcome and then manufacturing data to support the predetermined conclusion. What is the source of the information used in the article ?? Was this report peer reviewed ?? The report is 16 pages long. You can't make this up - they actually compute a metric in which the number of new teachers that could be hired if the Walmart tax breaks (whatever that is) are revoked. Amazing ??

They actually extrapolate the estimates from WI to all 50 states. What could go wrong ?? And of course there is no discussion of the progression made by Walmart employees on a yearly basis as their income increases via merit and promotions which reduce any assistance they may be receiving.

 

https://evans.uw.edu/sites/default/files/NBER Working Paper.pdf[/QUOTE]

I dont have time to read this entire thing since I need to sleep but what is their reasoning to go all the way up those making in the range of the minimum of $13 all the way to $19 per hour

Will have to dig into the paper tommorow

 

Given that the tax cuts came in the first quarter, 2% GDP for the first quarter after an initial prediction of 5.4% is not great, is it? DJ index at the level of mid December 2017 is not great either

 

Like I said, when it comes to trade, Uncle Sam is no Angel, and all we hear from Trump and his parrots are TARIFF barriers, and for anyone's info, near half of Trade Disputes are over NON-TARIFF barriers, such as;

Canada wins WTO challenge of American labelling rules, WSJ reports

In place since 2008, mandatory country-of-origin labelling(COOL) requires producers and processors identify where an animal is born, raised and slaughtered. The U.S. Department of Agriculture insists the rule is meant to help consumers make better food choices. Canada and Mexico argue the policy discriminates against out-of-country meat products.

https://ipolitics.ca/2014/08/22/canada-wins-wto-meat-challenge-wsj-reports/

In other words, any country may easily legislate a law/implement a rule that would restrict/limit the amount of goods which can be imported into a country, and Uncle Sam is very good at imposing Non-tariff barriers.

Your question: What trade rulings has Uncle Sam lost ??

Answer; Do you're homework, and stop asking me WHAT?, WHY?, HOW?, and WHEN?.....there are over 100 keys on a standard windows keyboard, use them!

 

You still haven’t answered the question.

 

There are over 100 keys on a standard windows keyboard, use them!

And the fact you don't know nothing about Non-tariff barriers makes you a below-average intelligent, and/or a Trump's parrot.

 

Again you dodge and resort to personal attacks and insults.

 

Simply put, people learn better when they figure things out for themselves.

BTW, I became an independent conservative since Bruce Bartlett revolted against the Bush Administration, and never again I'll become a party/POTUS loyalist as I strongly believe partisan politics is a serious disease in America, and evidently, you've been affected.

 

You believe tax rate cuts have an immediate effect?

What happened after the tax rate cuts in 1996?
What happened after the tax rate cuts that were fully phased in in 2003?

 

How can GDP possibly increase when exports decrease and consumer prices go up?

 

In addition to Bush's tax cuts; near $1 trillion of supplemental government spending, thus, how much revenues said tax cuts and supplemental spending have generated? NO ONE KNOWS!, not even our Noble prize winners in economics.

 

My point remains, we're due for a recession soon, and during this time of expansion and a growing economy, instead of cutting spending and paying down debt, Congress added $1.5 Trillion to the debt, for an unnecessary tax cut stimulus, that was supposed to pay for itself with 3% sustained growth, and it hasn't. So, we got no boost in economic growth, yet took on a sizable addition to the debt, and a recession is on the horizon.

 

And in addition to the above, I've already warned the Trumpeteers that I'll set-up my guillotine on October 11th, 2018.....when the fiscal year's Treasury statement will be released, and the dates of my financial statement will be from Jan 1st to Sep 30th, thus, since the full implementation of Trump's tax cuts.

 

Lower wages mean more people being employed; that is your Mythos and curve.

 

anyone moral enough to want to be legal to the law, instead of merely a, "trash illegal".

 

Fiscally, Trump's growth agenda will turn out to be another failed experiment.

 

No we have the historical records try again

What happened after the tax rate cuts in 1996?
What happened after the tax rate cuts that were fully phased in in 2003?

 

Tax rate cuts are not an immediate boost to the economy.

Did tax revenue growth slow or accelerate after the Clinton tax rate increase?
Did tax revenue growth slow or accelerate after the Gingrich/Kaisch tax rate cuts?
Did tax revenue growth slow or accelerate after the Bush43 tax rate cuts?

Do you support cutting entitlements and the size of government? Mulvaney just laid out some of the shrinking government measures he will be proposing do you support those?

 

Have they?

April 2018 Trade Highlights

• April exports of goods on a Census Basis ($140.6 billion) were the highest on record.Click here for more information.
• April exports of industrial supplies and materials ($45.7 billion) were the highest on record. Click here for more information.
• April imports of industrial supplies and materials ($47.9 billion) were the highest since December 2014 ($51.8 billion). Click here for more information.

https://www.census.gov/foreign-trade/data/index.html

What it exports are offset by fewer imports meaning more domestic activity?

And it is certainly possible for GDP to go up while inflation is increasing just look back to the Carter years.

 

There were no tax cuts in 1996. The modest tax cuts in 1997 (mostly cap gains) initially had little effect on the already rapidly declining deficit, because the late 2000s stock boom made increased cap gains realizations, that made up (in dollar terms) for losses associated with the lower tax rate.

That changed with the 2001 stock market crash, where cap gain tax realizations in 2002 fell to 25% lower than they had been in 1996, despite the fact that total cap gains were about the same in those two years.

Starting with the Bush tax cuts in 2001, and despite the fact that the economy continued growing by at least 3.3% per year, tax revenues tanked by an unprecedented hundreds of billions or dollars a year over an unprecedented 4 year period.

It was the biggest reason why the golden opportunity of the surplus under Clinton was squandered and replaced with new record deficits in just a couple years. But certainly the utterly reckless spending by Bush and the Republicans (far faster spending increases than Clinton or Obama even came close to) was a contributing factor.

When Bush and the Republicans finally stopped cutting taxes, and with the false boom of the crazy housing bubble, tax revenues grew (until the housing bubble crashed, sending the economy into the worst recession in 80 years), but proportionately they never came close to the level they had reached in 2000 before the Bush tax cuts.

 

you of course know tax cuts had nothing to do with the economic upswing in the 90's or 2000's. The 90's was the .com bubble. The 2000's was the housing bubble. Tax cuts only result in lower revenues, and greater debt.

 

Oh excuse me 1997 and revenue growth after being slowed by the Clinton tax rate increase got back on track along with increased GDP growth and hit double digit and helped produce the surpluses.

Yeah and the Republicans took mostly the proper actions and cut capgains and income taxes which once fully implement produced even HIGHER revenue growth and helped bring down the deficits to their paltry $161B.

Record growth with a 15% increase on 2005.

Clinton opposed the measures that brought about the surpluses and the the 2007 deficit a mealsy $161B.

Then the Democrats took control of the budget and fiscal policy and we see the disaster they created.