#1 | Posted by tonyroma at 2022-05-12 08:10 PM |
Can we say it altogether now? Thanks Brandon.
There has been no change in tax policy in 2001 that would lead to [supposedly] higher tax revenues due to higher tax rates, so Biden ["Brandon"?] and Dem Congress had done literally nothing to thank them for the RECORD SURPLUS in April, except continuing to spend money which helped inflate the stock market beyond anything we've seen in 1929, 2000 or 2008, as well as alternative markets and investments, like "crypto" well beyond "tulip mania" levels.
Any MAGAidiots want to explain how Brandon is destroying the economy and blowing up the deficits?
Even MAGAidiots or Demidiots ("MMT, i.e. Modern Monetary Theory, i.e., 'printing money' to stimulate the economy doesn't cause inflation") can understand that most of that RECORD SURPLUS is from people taking RECORD PROFITS at the recent peak of these markets reached in December of 2021 from all that insane spending by Trump + GOP Congress ($8.7T in accumulated national debt in just 4 years, added to $7.3T Obama national debt increase in only 8 years, to total of $27T from $10+T in 2008 fiscal year) and Biden + Dem Congress and the Federal Reserve's Zero-Fed-interest-rate policy + Quantitative Easing to the tune of almost $10 Trillion.
Yes, THEY ALL built that!
That's a lot of capital gains taxes on those profits. Inflation of assets does that every time, and then it spills into "real economy" - often leading to recessions, like in 2001 after Internet Crash and 2008-2009 after Global Financial Crisis (GFC) followed by Great Recession. Supply chain problems due to COVID-19 and Putin's War are adding to the current "global economic malady" neither of which is the fault of Biden, though he could handle some economic issues better instead of trying to spend even more $$ with BBB and other typical liberal "projects".
Both financially illiterate MAGAidiots and Demidiots are responsible for this inflation and possible recession, and both will be pointing fingers at the other guys.