What ever is in that box is going to have to cover everything getting more expensive. The tax cuts will go to the top earners, and the Middle class will pay for the rich to have a very, very merry Christmas on their backs.
I wish that the EITHER the economy was as simple as the 115th congress believes it is, OR the American electorate had enough self respect to abandon the political hacks and get some really competent, knowledgeable people into the next congress.
If you look at the left side of chart 6 in the paper below, you see consumer driven economics from the mid 1970s to present, then you see supply-side (trickle down or Neoliberal) economics. Of special interest in the 2001-2007 period leading to the great recession. Labor productivity was high as was the wage gap and of course, wages were low.
The linkage between profit, productivity and wages was 3 parallel lines from 1947 until the mid 1970’s, after that wages (factored for inflation) were flatlined, productivity increased and profits accelerated above productivity.
I believe there is a real danger to letting “gut feel”, political ideology driven tactics attempt to control our economy. For example, a quantitative analyst working for a Wall Street, hedge fund uses about 1600 variables to predict the market changes alone. We do not have enough competent people in the the 115th congress to deal with the economy.
The “Economy” is something that happens in a different realm than where Joe six-pack lives. Unless of coarse the economy tanks. Then Joe pays for it big time.
Let’s get rid of the lie that “the economy” consists only of the investment banking sector.
(With the possible exception of the oil industry, even the big corporations have external “investments” as a significant fraction of their balance sheets.)
Say What Now‽ Premium Member over 6 years ago
Waiting for that trickling down.
Mr. Blawt over 6 years ago
What ever is in that box is going to have to cover everything getting more expensive. The tax cuts will go to the top earners, and the Middle class will pay for the rich to have a very, very merry Christmas on their backs.
superposition over 6 years ago
I wish that the EITHER the economy was as simple as the 115th congress believes it is, OR the American electorate had enough self respect to abandon the political hacks and get some really competent, knowledgeable people into the next congress.
If you look at the left side of chart 6 in the paper below, you see consumer driven economics from the mid 1970s to present, then you see supply-side (trickle down or Neoliberal) economics. Of special interest in the 2001-2007 period leading to the great recession. Labor productivity was high as was the wage gap and of course, wages were low.
The linkage between profit, productivity and wages was 3 parallel lines from 1947 until the mid 1970’s, after that wages (factored for inflation) were flatlined, productivity increased and profits accelerated above productivity.
I believe there is a real danger to letting “gut feel”, political ideology driven tactics attempt to control our economy. For example, a quantitative analyst working for a Wall Street, hedge fund uses about 1600 variables to predict the market changes alone. We do not have enough competent people in the the 115th congress to deal with the economy.
https://www.bls.gov/opub/btn/volume-6/below-trend-the-us-productivity-slowdown-since-the-great-recession.htm
Put simply, would you trust someone like Roy Moore to handle your 401K retirement fund?
Ontman over 6 years ago
That’s the BIG BEAUTIFUL XMAS PRESENT he promised?
Crabbyrino Premium Member over 6 years ago
Just got my 2% increase in Social Security…all but $5 of it went to Medicare cost increase. Not complaining, just explaining.My economy is BOOMING.
Striped Cat over 6 years ago
The “Economy” is something that happens in a different realm than where Joe six-pack lives. Unless of coarse the economy tanks. Then Joe pays for it big time.
Radish the wordsmith over 6 years ago
Thanks to Republicans for giving the rich more and not ever creating any jobs jobs jobs.
Masterskrain Premium Member over 6 years ago
BOHICA, America. The Republicans are at it again.
DrDon1 over 6 years ago
Breen illustrating that the upper 1% want even more!
gammaguy over 6 years ago
Let’s get rid of the lie that “the economy” consists only of the investment banking sector.
(With the possible exception of the oil industry, even the big corporations have external “investments” as a significant fraction of their balance sheets.)