Tariffs and Potential Inflation
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Bonasababy
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Biden’s oil boom
How US oil production hit a record under Biden despite climate policies
www.reuters.com
noharleyyet
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BigHornRam
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I don't know where you come up with this stuff.
Reagan tax cuts - Wikipedia
One thing is for certain, I don't think we the people have improved on our understanding of taxes cuts since 1986.
"At the time, people weren't substantially informed about the tax cuts, as an ABC News Poll in September 1986 showed that 63% of Americans didn't know enough about the Tax Reform Act of 1986 to say if it was good or bad.[3]"
Forkyfinder
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U.S. Federal Government Tax Revenue
The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.
Show me where the federal government had a decrease in revenues?
SAJ-99
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The market isn't taking him seriously. It just isn't. Is it maybe overly optimistic to the point of complacency? maybe. We will know soon. Right now he is just seeking attention.
The new Mexico president just got the Trump Jedi Mind Trick. He threatened day-1 tariffs and demands them to do things that they are already doing. When she calls and say "we are already doing as much as we can", he declares that she agreed to the demands. She was like "WTF just happened?".
You have to admit that Trump is a master at controlling the messaging (and democrats absolutely suck at it). I am sure absolutely zero could change and he could convince a lot of people the economy is great and it is all because of him. The truth doesn't matter in messaging. Just keep saying it and never admit you are wrong. Another example, the threat to BRICS countries if they use a reserve currency other than the USD. 1) talks on moving away from the USD have been going on for 50 years, 2) there is an alternative to the USD (SDRs) but no one uses it 3) starting every negotiation by punching your "friend" in the face and demanding he remain your friend is probably not a good long-term strategy.
The problem for those in the administration doing the work is Reality. The Treasury has to refi/sell almost $7T in bonds in 2025. Those BRICS countries are potential buyers. Bessent will soon realize there is only so much he can do. They have to talk the market into buying this debt to keep rates from going up and constraining growth. But the plan is to continue to "grow your way out" of the debt problem.
Right now the playbook looks the same as last time -tax cuts, deregulation, pro-growth. Reality says it may be impossible to grow the US economy at a rate above 2-3% real. So maybe it all comes down to messaging.
Some people drank bleach...
********
Reality, Trump pushes heavy and his strategy worked last go around with USMCA. If you want $7 and currently at $5 - push for $10.
Nick87
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It would be interesting to see that, it didn't work out for Biden so well.
Forkyfinder
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jryoung
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One thing is for certain, I don't think we the people have improved on our understanding of taxes cuts since 1986.
"At the time, people weren't substantially informed about the tax cuts, as an ABC News Poll in September 1986 showed that 63% of Americans didn't know enough about the Tax Reform Act of 1986 to say if it was good or bad.[3]"
This is a great read if you ever want to get a glimpse of how major policy takes place as it relates to the 1986 Tax Act.
BigHornRam
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Yeah. But those talking points absolutely sucked!
SAJ-99
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You can looks this stuff up.U.S. Federal Government Tax Revenue
The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.www.thebalancemoney.com
Show me where the federal government had a decrease in revenues?
Total Treasury revenue
2016 $4.27T
2017 $4.24T
2018 $4.16T
Like I said, Democrats are horrible at it.It would be interesting to see that, it didn't work out for Biden so well.
Yep. Completely serious. It won't be accepted by anyone parroting "liberal media bias", but comparing how Trump I admin controlled messaging and Biden admin controlled messaging it is clear there is no comparison. Trump is a master of the media, and the media (any and all) loves him because he brings views. Any claim of bias is made against those that point out his BS. Even Fox took hits from him. The reality is that Americans get most of their information from places that aren't even media.
noharleyyet
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Point taken but pointing out biased media BS is also a fact.
SAJ-99
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Maybe. Perception is reality for most people.
BigHornRam
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Like total treasury revenue was up 7% in 2019? Guess it depends on who is reporting the whole story.
Nick87
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A for effort.
SAJ-99
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No argument from me on that. But that wasn’t the question. The amount of money goes up every year. It’s called inflation. He just wanted proof that tax revenues collected went down.Hopefully he is satisfied. Obviously you are not, but that isn’t a surprise. Again.Like total treasury revenue was up 7% in 2019? Guess it depends on who is reporting the whole story.
BigHornRam
Well-known member
Based on this source, the years you reported down, were actually up slightly. They did go down in 2020 and 2023.
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