Why would Biden's stimulus cause inflation, but not Trump's?

RodB · Oct 23, 2021

fmw said: ↑

We have gotten pretty far from the original point of explaining that Trump's tax cuts were business tax cuts not so much individual tax cuts.
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Quite true, and my point precisely to counter the false trite meme that Trump tax cuts benefited only rich people.

Hey Now · Oct 23, 2021

Moonglow said: ↑

I am sure he will live.
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But joe might actually care a little .

Moonglow said: ↑

I exist under the abilities of myself not because who is president.
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The American Way!

MJ Davies · Oct 23, 2021

Quantum Nerd said: ↑

Here are the deficit numbers:
Trump:
-Tax cuts: $1.5 trillion over 10 years (predicted, probably will be much higher due to covid recession)
-Cares act: $2.2 trillion

Biden:
-America rescue plan: $1.9 trillion

So, it seems to be common "knowledge" in Trump supporter circles that Biden is causing inflation by printing money. Now, the question is: Why does Biden's money printing cause inflation, but Trump's does not, even though Trump's stimulus exceeded Biden's in total amount and duration?

I am not saying that the covid stimulus bills didn't contribute to inflation, they probably did. I, personally, got stimulus checks for my family which I didn't need. Some of that money was spent back into the economy, therefore raising prices at a time when the supply of goods plummeted due to supply chain issues.

So, maybe Trump supporters can clarify this:
1) Do Biden and Trump share the blame for inflation?
2) What was the effect of the tax cuts on the national credit card on inflation? Didn't they raise inflation because there was more money around chasing the same amount of goods?
3) Do policies have immediate effects on inflation, or are the effects delayed?
4) Would we have no inflation if Trump was still in office? If so, how would he prevented inflation?

I am interested to get some discussion on these macroeconomic issues, rather than the typical (to paraphrase) "Biden is the devil because he makes the stuff I buy more expensive" type of kneejerk analysis.
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Cheat Sheet
----------------------
Biden - mortal
Trump - deity

Zorro · Oct 23, 2021

Voters wise to what a complete screw up Biden is as his inflate cuts te value of their money.

NBC Nightly News Ignores Terrible CNBC Survey Showing Biden Econ Disapproval at 54%.

Fake News Democrat Operative.

CNBC released a damning economic survey showing the majority of Americans disapproving of President Joe Biden’s economic performance, and its sister network chose not to cover it.

CNBC’s All-America Economic Survey of 800 Americans showed that a 52 percent majority disapprove of “Biden’s handling of the presidency.” Behind the ratings collapse for Biden, is a “surge in negative views of his handling of the economy” with a sizable 54 percent disapproval, a seven-point increase from July. Specifically, according to CNBC Oct. 21, “Americans soured on [Biden’s] economic leadership, lost some confidence in his handling of the coronavirus, and grew increasingly concerned about inflation and supply shortages.”
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Biden's always been an incompetent blowhard and that was before the dementia.

The outlet called Biden’s ratings “deeply underwater.” Forty-six percent of respondents said, “the economy will get worse in the year ahead, the most in the 13-year history of the poll and 79% judge the economy as just fair or poor, the most since 2014.” The devastating survey wasn’t worthy of any coverage over at CNBC’s derelict sister network NBC Nightly News, which ignored the survey results during its Oct. 21 broadcast.

CNBC’s Squawk Box did cover the results of the survey during its Oct. 21 broadcast. The chyron for the segment read, “Pres. Biden’s Approval In the Red.”
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TCassa89 · Oct 23, 2021

garyd said: ↑

End of 2018. Would not have impacted 2018 taxes.
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That is not accurate, it was passed at the end of 2017, and went into effect for the fiscal year 2018

https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017

U.S. Tax Revenue by Year

Fiscal Year -- Revenue

FY 2020 $3.71 trillion (estimated)
FY 2019 $3.46 trillion (actual)
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.77 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion

garyd · Oct 23, 2021

TCassa89 said: ↑

That is not accurate, it was passed at the end of 2017, and went into effect for the fiscal year 2018

https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017

U.S. Tax Revenue by Year

Fiscal Year -- Revenue

FY 2020 $3.71 trillion (estimated)
FY 2019 $3.46 trillion (actual)
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.77 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
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And receipts went up every year after, by more than they did in any year under Obama.

TCassa89 · Oct 23, 2021

garyd said: ↑

And receipts went up every year after, by more than they did in any year under Obama.
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Also not accurate

https://www.presidency.ucsb.edu/statistics/data/federal-budget-receipts-and-outlays

2010 - 2,162.7
2011 - 2,303.5
2012 - 2,450.0
2013 - 2,775.1
2014 - 3,021.5
2015 - 3,249.9
2016 - 3,268.0
2017 - 3,316.2
2018 - 3,329.9
2019 - 3,463.4
2020 - 3,421.2

It shouldn't have to be explained that years that say "estimated" are predetermined, and do not represent actual growth

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Why would Biden's stimulus cause inflation, but not Trump's?

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Why would Biden's stimulus cause inflation, but not Trump's?

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