Highest inflation since...

[SoCal Deek]

54 minutes ago, TSOL said:

 

 

I wonder what Christmas trees are going to cost this year. 

Get a fake one…..you'll never go back. 

[BillStime]

2 hours ago, SoCal Deek said:

Trump cut the uppermost tax rate from 37.5% back down to 35%. The same rate it was when Obama entered office. Huge tax cut? Hardly! 

I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?

 

Now, I do laugh that you chose not to share the Corporate tax decrease under Trump - why?

 

 

 

 

[SoCal Deek]

1 minute ago, BillStime said:

I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?

 

Now, I do laugh that you chose not to share the Corporate tax decrease under Trump - why?

 

 

 

 

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 

[Chef Jim]

3 hours ago, BillStime said:

Here you go:

 

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm

 

When does inflation start the current upward trajectory? Here I’ll help you out:

 

Thank you. It started pretty much the day Biden was sworn in. 🙄 

 

Admit it. Whether you blame Biden or not that upward trajectory looks pretty bad on HIS watch.  

2 hours ago, SoCal Deek said:

As I’m actually in the bracket, it’s personal to me! This tax cut for the rich bull is utter nonsense.

And you didn’t even mention SALT 

[SoCal Deek]

2 minutes ago, Chef Jim said:

 

And you didn’t even mention SALT 

Ha!  See my post above. 

[Chef Jim]

3 minutes ago, SoCal Deek said:

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 

Ok you mentioned it here. 

9 minutes ago, BillStime said:

I believe Obama had his tax rate on the rich at 39.5%.

 

And look what happened to his economy?

 

Question Billy Boy. If the economy under Obama was HIS economy do you label this dumpster fire JOE’S economy?  🤔

[BillStime]

5 minutes ago, Chef Jim said:

Thank you. It started pretty much the day Biden was sworn in. 🙄 

 

Admit it. Whether you blame Biden or not that upward trajectory looks pretty bad on HIS watch.  

 

 

So, Trump can take credit for Obama's economy... and Biden can't blame Trump for what he did to our treasury and economy.  Got it.

 

And yes, inflation started to increase in 2020 on TRUMP's watch.

 

You can't pick and choose facts.

 

 

[Chef Jim]

Just now, BillStime said:

 

So, Trump can take credit for Obama's economy... and Biden can't blame Trump for what he did to our treasury and economy.  Got it.

 

And yes, inflation started to increase in 2020 on TRUMP's watch.

 

You can't pick and choose facts.

 

 

I’ll ask again seeing you gave it an olé

 

If it was Obama’s economy then is this Biden’s economy now. And Billy try to answer without interjecting Trump ok?

 

 

[BillStime]

8 minutes ago, SoCal Deek said:

37.5%...but let's not split hairs. The Trump plan also eliminated the SALT deduction, so I actually paid more, not less, under Trump. If you ever get to the point where you earn some real money, please get back to me.

 

Nope - you're wrong.

 

In 2013, Obama allowed previous tax cuts for the wealthy to expire. In doing so, he allowed the top income tax rate to rise from 35 percent to 39.6 percent.

Study: Obama tax hikes on rich didn’t hurt economy, or rich

 

The increased taxes, which took effect in 2013, included a new surtax of 3.8 percent on income from investments for the very wealthy that helped to pay for Obama's Affordable Care Act. Also, the president and Congress allowed tax relief enacted by President Bush to expire for the wealthiest households, resulting in an increase in the tax on capital gains from 15 percent to 20 percent and an increase in the top marginal rate on ordinary income from 35 percent to 39.6 percent.

The very interesting thing that happened when Obama raised rich people’s taxes

 

PS: See why you hate the Affordable Care Act?  

 

11 minutes ago, SoCal Deek said:

And no, I didn't share the corporate tax rate as that is another stupid argument. As the primary shareholder of a major corporation, it makes no difference to me what the corporate tax rate is/was, and honestly neither should you. When my company makes a profit, those profits are distributed to the shareholders who then pay the higher personal tax rate.  What do you think the corporation does with the money?  Burn it in a fireplace? 

 

Oh, trickle down economics?

 

LOLZ

 

Are you serious?

 

 

jfc

 

Trump’s Corporate Tax Cut Is Not Trickling Down:

• The promised boom in business investment never happened  
• The most recent data show that private nonresidential investment actually declined in the second quarter of 2019
• Instead of substantially increasing investment, the windfall businesses received largely went to paying off wealthy investors. One analysis of Fortune 500 companies found that just 20 percent of increased cashflow in 2018 was spent on increasing capital expenditures or research and development. The remaining 80 percent of cashflow went to investors through buybacks, dividends, or other asset planning adjustments. The vast majority of corporate stocks are held by the wealthy, including foreign investors, and thus they are the ultimate beneficiaries of the windfall corporate tax cuts.

 

 

 

 

 

 

[SoCal Deek]

1 minute ago, BillStime said:

 

Nope - you're wrong.

 

In 2013, Obama allowed previous tax cuts for the wealthy to expire. In doing so, he allowed the top income tax rate to rise from 35 percent to 39.6 percent.

Study: Obama tax hikes on rich didn’t hurt economy, or rich

 

The increased taxes, which took effect in 2013, included a new surtax of 3.8 percent on income from investments for the very wealthy that helped to pay for Obama's Affordable Care Act. Also, the president and Congress allowed tax relief enacted by President Bush to expire for the wealthiest households, resulting in an increase in the tax on capital gains from 15 percent to 20 percent and an increase in the top marginal rate on ordinary income from 35 percent to 39.6 percent.

The very interesting thing that happened when Obama raised rich people’s taxes

 

PS: See why you hate the Affordable Care Act?  

 

 

Oh, trickle down economics?

 

LOLZ

 

Are you serious?

 

 

jfc

 

Trump’s Corporate Tax Cut Is Not Trickling Down:

• The promised boom in business investment never happened  
• The most recent data show that private nonresidential investment actually declined in the second quarter of 2019
• Instead of substantially increasing investment, the windfall businesses received largely went to paying off wealthy investors. One analysis of Fortune 500 companies found that just 20 percent of increased cashflow in 2018 was spent on increasing capital expenditures or research and development. The remaining 80 percent of cashflow went to investors through buybacks, dividends, or other asset planning adjustments. The vast majority of corporate stocks are held by the wealthy, including foreign investors, and thus they are the ultimate beneficiaries of the windfall corporate tax cuts.

 

 

 

 

 

 

At the time, Obama explained to the American people, that he needed those increased tax rates to help out during the Great Recession.  With the Great Recession officially over, Trump simply put the rate back where it was. Nothing to see here. Carry on.

[BillStime]

6 minutes ago, Chef Jim said:

I’ll ask again seeing you gave it an olé

 

If it was Obama’s economy then is this Biden’s economy now. And Billy try to answer without interjecting Trump ok?

 

 

 

JFC - Economics doesn't happen in a vacuum. 

1 minute ago, SoCal Deek said:

At the time, Obama explained to the American people, that he needed those increased tax rates to help out during the Great Recession.  With the Great Recession officially over, Trump simply put the rate back where it was. Nothing to see here. Carry on.

 

[Chef Jim]

19 minutes ago, BillStime said:

 

JFC - Economics doesn't happen in a vacuum. 

 

 

 

Vacuum schmacuum.  I'm just using your words and throwing them back at you. Soooo here we go again.

 

If the economy was Obama's under him is this economy Joe's?  It's a simple question.   Even a "I misspoke when I called it HIS economy when I talked about Obama" would suffice.  

[BillStime]

Just now, Chef Jim said:

 

Vacuum schmacuum.  I'm just using your words and throwing them back at you. Soooo here we go again.

 

If the economy was Obama's under him is this economy Joe's?  It's a simple question.   Even a "I misspoke when I called it HIS economy when I talked about Obama" would suffice.  

 

Sure, we can play this game.  We will just have to revisit "Joe's economy" in 845 days.

 

Meanwhile - in Trump's four years:

 

 

[Chef Jim]

Just now, BillStime said:

 

Sure, we can play this game.  We will just have to revisit "Joe's economy" in 845 days.

 

Meanwhile - in Trump's four years:

 

 

 

And there it is....TRUMP TRUMP TRUMP TRUMP TRUMP.  

 

Our conversation had NOTHING to do with Trump.  Why did you bring him up?  It's almost like an addiction for you.  You can't help yourself can you?  

[BillStime]

4 minutes ago, Chef Jim said:

 

And there it is....TRUMP TRUMP TRUMP TRUMP TRUMP.  

 

Our conversation had NOTHING to do with Trump.  Why did you bring him up?  It's almost like an addiction for you.  You can't help yourself can you?  

 

Because you're easy, Jim.  It's a fact that you can't win.

 

[Chef Jim]

44 minutes ago, BillStime said:

 

Because you're easy, Jim.  It's a fact that you can't win.

 

You brought up Trump because I’m easy??  No dude, you brought him up because you’re ***** whacked.  

[BillStime]

10 minutes ago, Chef Jim said:

You brought up Trump because I’m easy??  No dude, you brought him up because you’re ***** whacked.  

Well Jim - this is the inflation thread - it’s too bad you can’t handle the role Trump played on… inflation! 

 

[SoCal Deek]

The price of gas jumped by over 15% in just ONE WEEK at my local corner gas station. Is everyone else seeing the same thing? 

[Chef Jim]

2 hours ago, SoCal Deek said:

The price of gas jumped by over 15% in just ONE WEEK at my local corner gas station. Is everyone else seeing the same thing? 

Again I’m hearing it’s just us lucky ones.  Something about refinery maintenance. 😏

3 hours ago, BillStime said:

Well Jim - this is the inflation thread - it’s too bad you can’t handle the role Trump played on… inflation! 

 

Oh I can handle it. No worries. Just one question chief. What was his role in it?  
 

And this is weird. A little birdie told me it’s was Putin’s inflation. Need to keep my stories straight. 🤷🏻‍♂️

Edited September 29, 2022 by Chef Jim

[Doc]

13 hours ago, SoCal Deek said:

The price of gas jumped by over 15% in just ONE WEEK at my local corner gas station. Is everyone else seeing the same thing? 

 

Dems can't see anything with their heads so far up their asses.

[SoCal Deek]

4 minutes ago, Doc said:

 

Dems can't see anything with their heads so far up their asses.

That may be true but it was an honest question. I don’t generally notice it from day to day but I was out of town last week and came back to an almost $1.00 per gallon increase…in one week. I’m curious if it’s a national thing? Chef believes it’s just us lucky ones here in the former Golden State. 

[Doc]

4 minutes ago, SoCal Deek said:

That may be true but it was an honest question. I don’t generally notice it from day to day but I was out of town last week and came back to an almost $1.00 per gallon increase…in one week. I’m curious if it’s a national thing? Chef believes it’s just us lucky ones here in the former Golden State. 

 

I have a Tesla so I don't pay attention to the prices.  If they're not increasing everywhere, they will be soon.  Sharply.

[B-Man]

 

 

 

                                             

 

 

 

.

[B-Man]

Good luck with your “pro-abortion” 

campaign in November. 
 

 

[Doc]

5 hours ago, B-Man said:

Good luck with your “pro-abortion” 

campaign in November. 
 

 

 

Yeah but fewer mouths to feed...

[B-Man]

 

 

Wholesale inflation rises more than expected in September, with prices jumping 8.5%

by Megan Henney

 

Inflation at the wholesale level rose more than expected in September as prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households. The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.4% in September from the previous month. On an annual basis, prices soared 8.5%. 

 

 

 

https://www.foxbusiness.com/economy/wholesale-inflation-rises-more-than-expected-september-prices-jumping

 

 

.

[B-Man]

 

 

UNEXPECTEDLY! 

 

Wholesale prices rose 0.4% in September, more than expected as inflation persists.

 

 

https://www.cnbc.com/2022/10/12/producer-price-index-september-2022.html

 

 

.

[Big Blitz]

Everything about this....yea it happened.  But the spin on the collapse is blatant lies - blaming inflation and rising rates - ALL SELF INFLICTED because of the flu China and the DNC doesn't have to answer for - and the Orange Man was a threat to Democracy lol lol yea those mean tweets were so much worse then your now inability to afford a home:

 

 

 

 

The historic deterioration in the U.S. housing market, as told by 3 charts

 

 

Back in March, when Fortune reported that "an economic shock just hit the housing market," the spike in mortgage rates from 3.2% to 4.2% in the span of just three months were predicted to push the U.S. housing market into slowdown mode. That is just what happened.

 

Of course, affordability has continued to worsen since this spring. As of Tuesday, the average 30-year fixed mortgage rate sits at 7.14%. That marks both the highest mortgage rate since 2002 and the biggest 12-month jump (see chart below) since 1981. In January, a borrower who took out a $500,000 mortgage at a 3.2% rate would be on the hook for a $2,162 monthly principal and interest payment over the course of the 30-year loan.

 

Now, at a 7.14% rate, that monthly payment would be $3,374.

 

 

https://fortune.com/2022/10/13/housing-market-historic-deterioration-told-by-three-charts/

 

 

 

 

COVIDIOTS....

 

 

[Big Blitz]

There it is......nice work Brandon!!

 

 

 

Core US Inflation Rises to 40-Year High, Securing Big Fed Hike

 

 

A key gauge of US consumer prices advanced to a 40-year high in September, underscoring persistent, elevated inflation that’s squeezing households and pushing the Federal Reserve toward another steep interest-rate hike.

 

The core consumer price index, which excludes food and energy, increased 6.6% from a year ago, the highest level since 1982, Labor Department data showed Thursday. From a month earlier, the core CPI climbed 0.6% for a second month.

 

The overall CPI increased 0.4% last month, and was up 8.2% from a year earlier. The median forecasts in a Bloomberg survey of economists had called for a 0.4% monthly rise in the core and a 0.2% gain in the overall measure.

 

https://www.bloomberg.com/news/articles/2022-10-13/core-us-inflation-rises-to-40-year-high-securing-big-fed-hike

 

[RiotAct]

20 hours ago, B-Man said:

 

 

UNEXPECTEDLY! 

 

Wholesale prices rose 0.4% in September, more than expected as inflation persists.

 

 

https://www.cnbc.com/2022/10/12/producer-price-index-september-2022.html

 

 

.

just transitory.  Hey, did you see all those rIgHtS the Pubs want to take away?!?!?

[sherpa]

700 point hit to the Dow Futures on the inflation report.

Nice.

[RiotAct]

16 minutes ago, sherpa said:

700 point hit to the Dow Futures on the inflation report.

Nice.

pfft, who cares about the stock market besides the uber wealthy.  Amirite?

[OrangeBills]

The biggest misconception is that this is a Fed problem.  No, the Fed has not performed perfectly at all, but this is a FISCAL problem.  Specifically, it's a LEFTIST DEMOCRAT problem.

 

They have ZERO clue about Economics.  They get way too caught up in Social issues (Abortion, etc) when the Existential ones (Economy, Security) are going to demolish our nation and its people's fortunes.

 

Trump's tariffs were deplorable but shutting down Semi Cap equipment to China is A-OK?  Idiots

 

 

[Your Brown Eye]

42 minutes ago, sherpa said:

700 point hit to the Dow Futures on the inflation report.

Nice.

 

I sold out my brokerage account and stuff in my Roth, while transferring my 403B into a guaranteed account of 5%, last January when the market was red hot because I did not like what I saw or was crazy Joe was doing, some of my colleagues thought I was crazy because the market was still kicking for another month ...I've been counting my lucky stars since 

[B-Man]

 

 

 

[B-Man]

 

 

BUFFOON.

 

 

 

 

[BillStime]

2 minutes ago, B-Man said:

 

 

BUFFOON.

 

 

 

 

Reminds me when Trump told us he would completely erase the National debt and then blew it out of the water… totally not helping todays economy right?

 

Idiots 

[B-Man]

 

BUFFOON.

 

42 minutes ago, BillStime said:

Reminds me when Trump. . . . . . . . . . . . . . .  blah, blah, blah, blah, blah.

 

 

[BillStime]

8 minutes ago, B-Man said:

 

BUFFOON.

 

 

[B-Man]

 

😂

 

Out-of-touch Joe Biden brings the ice cream meme to life

 

 

Biden’s ice cream antics today reminded Twitter users of this particular version of the meme,

 

which has been around for at least 6 months.

 

It is not possible to be more out of touch

 

 

 

.