Highest Social Security Increase Coming in 2023 in the U.S.

Sure static numbers only fools and right wingers use for political purposes. ECONOMISTS USE GDP to measure revenues. You know that

 

~ " Pops" Biden has a hard time standing at all ...

 

Static and dynamic apply to projection analysis not historical records.

 

Trump reduced supply of oil during Covid, the economy improved under Biden, but the supply of oil was not there because of Trump... and the greed of the oil companies of course

 

Do you know the difference between a projection and history?

 

Sure projection is what CBO does before GOP gut taxes on the richest, history shows those tax cuts cost the US treasury plenty of revenues, according to the about 15 rightie economists I kept showing

 

So which is the more accurate as to results, the predictions or the historical outcome?

 

The outcomes, there was less revenues than if Ronnie, Dubya and Diaper Donnie had simply left tax rates alone? YES

While this view has gained political currency, there is little evidence to support it. Indeed, as evident in the following graph, the evidence suggests that tax cuts do not increase revenues to the government in any meaningful way, but instead increase government deficits. Likewise, tax increases are often criticized as harmful to the economy and opponents argue that they do not actually increase government revenues. Again, the available evidence suggests that the opposite is true.
http://rricketts.ba.ttu.edu/Tax Rates and Revenues.htm










Reagan's tax cut slashed revenues by 2.9% of GDP, according to the Committee for a Responsible Federal Budget.


The cost of the tax laws enacted during George W. Bush's administration is equal to roughly 2 percent of gross domestic product (GDP) in 2010
https://www.cbpp.org/research/federal-tax/the-legacy-of-the-2001-and-2003-bush-tax-cuts

Nov 19, 2021 — The Tax Foundation analysis stated that the tax cuts would cost $1.47 trillion in decreased revenue while adding only $600 billion in growth

 

You mean the CORRECT way to measure it like economists do? GDP

https://www.taxpolicycenter.org/statistics/source-revenue-share-gdp

 

By prediction or historical outcome?

Ben Bernanke Wins a Nobel, in Theory
The former Federal Reserve Chairman’s research about financial crises didn’t help prevent one in 2008.

An old joke has it that economists like to grouse that something may work in practice but does it work in theory? That comes to mind with the news that former Federal Reserve Chairman Ben Bernanke is sharing this year’s Nobel prize in economics for his research into financial crises. His insights worked in theory but not in practice.
https://www.wsj.com/articles/ben-bernanke-wins-a-nobel-in-theory-11665442267?mod=opinion_lead_pos1

 

Except history proved the writer wrong.





Yes Clinton came in on a recovery with a strong revenue increase and pass a tax increase which slowed that rate of growt. The 1993 tax increase was passed but the additional revenues were allowed to be differed until 1996. Revenues slowed then from 9% down to 7% WITH the additional differed revenues. Your chart leaves the Republican take over of Congress and their tax cuts and welfare reform they forceed Clinton to sign which produced a huge increase in revenues and with their spending restrain produced the budget surpluses.

It then leaves out that the Bush tax rate cuts were passed to phase in through 2006 with most on the back end but as the recession hit and they economy need a boost they accelerated them and full implemented them in 2004.

And it is just more of your conjecture and suppositions and postulations after 2005 which are LAUGHABLE WRONG AGAIN. Revenues hit an even higher increase than in 2000. So thanks for showing how such data is manipulated and cherry picked and who such projections aren't worth the paper they were projected on.

[/QUOTE]

More of your conjecture and suppositions and postulations

 

Our National Debt has nothing to do with President Biden and everything to do with Central Banking; claiming otherwise is evidence of ignorance.

 

2008 Oh you mean Dubya/Greenspans baby huh? Ben got there in 2006, they started increasing interest rates then




From Bush's President's Working Group on Financial Markets October 2008

''The Presidents Working Group's March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007"


James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.



Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.

The Economic Blue Screen of Death - Thoughts From The Frontline - Investment Strategies Analysis Intelligence for Seasoned Investors.

https://www.mauldineconomics.com/frontlinethoughts/the-economic-blue-screen-of-death-mwo101708

 

Economists laugh at your AEI, Heritage talking points, like me

YES WE SAW HOW IT WORKED WHEN GOP HAD FULL CONTROL UNDER DUBYA

 

Looks like someone did their homework and the idiots in the White House had to retract their bragging about Social Security increase.
https://nypost.com/2022/11/02/republicans-fact-check-white-house-on-cause-of-inflation/

 

The now-deleted tweet:



"Through Biden's leadership" LOL..... Can't make this stuff up!

 

The Free Twitter Bird Promptly Fact-Checked Biden's happy horse crap claim.

White House Deletes Absurd Tweet After CNN, Twitter Slap With Fact Checks

'Joe, the internet hates us...'