Inflation

[Darmark7]

 

[oldngray]

 

[Up In Smoke]

Yep the price of almost everything has gone up no matter who owns it because the dollar is worth less and less under Bidenomics. So as I said the tax man is getting richer and richer. If you bought and sold your boat legally you bought the boat and you paid taxes on it and then when you sold the boat you got taxed on the money you made and the guy that bought the boat paid taxes on it. See how that works.
I look at taxes going to state or federal as going to the government.

In our state, the seller of an asset doesn't pay capital gains unless the item was depreciated as a business expense. Primary homes and other assets sold by a private citizen are not subject to tax. I'm not sure how you tie this to any one person, as this has been the American way for decades. The inflation cycle we are currently in began with the "printing" of 9T dollars to combat Covid in 2020. If you go back and look at previous forums, you will see the inflation discussion began around June of 2020.

 

[newolddude]

translation: please Fed don't raise rates and crush our balls, we want to make more easy money

Maybe.

Or maybe the "tough medicine" of interest rate hikes worked and the economy is recovering.

 

[newolddude]

Auto sales taxes go to the state in which you register it, not the Federal Government. If you own a car, boat, camper or piece of property, you've seen the value of those assets grow from 20-50%. I sold a boat in 2021 for 8K more than what I bought it for in 2016.

 

[Darmark7]

In our state, the seller of an asset doesn't pay capital gains unless the item was depreciated as a business expense. Primary homes and other assets sold by a private citizen are not subject to tax. I'm not sure how you tie this to any one person, as this has been the American way for decades. The inflation cycle we are currently in began with the "printing" of 9T dollars to combat Covid in 2020. If you go back and look at previous forums, you will see the inflation discussion began around June of 2020.

My original comment is that the tax man is getting record taxes. Inflation making things more expensive now than in the past is making people pay more taxes on the higher priced items. I can remember Inflation being talked about since the 1970’s but it seems there are times when the inflation is unusually high and we are now in one of those cycles. If the 9 trillion COVID relief started this than we can see why this has gotten worse with even more thrown on top of that.

 

[Up In Smoke]

My original comment is that the tax man is getting record taxes. Inflation making things more expensive now than in the past is making people pay more taxes on the higher priced items. I can remember Inflation being talked about since the 1970’s but it seems there are times when the inflation is unusually high and we are now in one of those cycles. If the 9 trillion COVID relief started this than we can see why this has gotten worse with even more thrown on top of that.

I agree, the first spending bill by this administration was unnecessary and added to the already troubling supply and demand issues. The "Chips Act", Infrastructure and Inflation bills are investment spending bills and should help America in the long run. We had inflation worse than this during the 80's and similar inflation in the early 90's and 2006-07. Wages and corporate greed will continue to affect inflation for the foreseeable future.

 

[catstalking]

Maybe.

Or maybe the "tough medicine" of interest rate hikes worked and the economy is recovering.

there are literally decades of financial mismanagement and bull money to unwind, it's not going to be fixed by a year of light hikes

 

[newolddude]

there are literally decades of financial mismanagement and bull money to unwind, it's not going to be fixed by a year of light hikes

I agree as there's too much debt and other funny money out there globally. I still think we're going to get an economic collapse in the next 20 years that will make the Great Depression and 2008 bubble burst look like nothing.

But short term wise it appears that we're not heading for a recession: which I know bums some of you out.

 

[catstalking]

I agree as there's too much debt and other funny money out there globally. I still think we're going to get an economic collapse in the next 20 years that will make the Great Depression and 2008 bubble burst look like nothing.

But short term wise it appears that we're not heading for a recession: which I know bums some of you out.

yes, i agree with that assessment

permabears are currently roping themselves

 

[Over70irregs]

Just think how much more taxes the government is getting since the great Bidenomics. The more things go up the more taxes are paid because of the higher price. Take a car for example, what use to cost $20,000 is now around $30,000 so the government gets taxes on an extra $10,000. Now multiply that on just about everything everyone is buying. But our government needs those taxes to keep Ukraine and the illegals supplied.

Your replacement level is 1.6 in US. The US without legal/illegal immigration is done for. They will not tell you that truth. I left out our replacement level needs to be ~2.1.

 

[Over70irregs]

Yep the price of almost everything has gone up no matter who owns it because the dollar is worth less and less under Bidenomics. So as I said the tax man is getting richer and richer. If you bought and sold your boat legally you bought the boat and you paid taxes on it and then when you sold the boat you got taxed on the money you made and the guy that bought the boat paid taxes on it. See how that works.
I look at taxes going to state or federal as going to the government.

You can blame current administration but this has been a problem for decades. It’s called “recency bias”….

 

[Darmark7]

Your replacement level is 1.6 in US. The US without legal/illegal immigration is done for. They will not tell you that truth. I left out our replacement level needs to be ~2.1.

So how are the countries that all the people are running from going to survive? We don’t care about them? How has the countries that have strict boarders survive all these years? What does done for look like? Do we just all die off and then there is no America in the future without open boarders? Why aren’t the states with the most illegals the most prosperous? Why are some of these states already saying they can’t handle anymore? Could we be lied to by people that are for open boarders?

 

[Darmark7]

You can blame current administration but this has been a problem for decades. It’s called “recency bias”….

I don’t blame Biden for the problem, I just blame him for making a problem worse.

 

[Over70irregs]

So how are the countries that all the people are running from going to survive? We don’t care about them? How has the countries that have strict boarders survive all these years? What does done for look like? Do we just all die off and then there is no America in the future without open boarders? Why aren’t the states with the most illegals the most prosperous? Why are some of these states already saying they can’t handle anymore? Could we be lied to by people that are for open boarders?

Stop war mongering and exporting inflation across the globe. The reason they come here is we jack them up. Other western allies do the same especially to certain demographics. How can states be more prosperous with devalued $? The BRICS is the canary…. They are awake to our . This will answer your questions Devaluation Of The Dollar - History And Theory

 

[Darmark7]

Stop war mongering and exporting inflation across the globe. The reason they come here is we jack them up. Other western allies do the same especially to certain demographics. How can states be more prosperous with devalued $? The BRICS is the canary…. They are awake to our . This will answer your questions Devaluation Of The Dollar - History And Theory

Yes we need a president that isn’t for endless wars. At the current moment we don’t have one. Really most presidents we have had was for war and that was Democrats and Republicans. War is good for money laundering and making the 1% more money. I can think of a president that didn’t like wars and we pretty much had peace while he was in office but the war mongers didn’t like him. Seems like a lot of people like war more than peace.

 

[DriveInDriѵeOut]

Maybe.

Or maybe the "tough medicine" of interest rate hikes worked and the economy is recovering.

Maybe that wouldn't have been necessary if idiot Democrats didn't throw gas on the fire with wasteful spending after the pandemic was over.

 

[DriveInDriѵeOut]

I still think we're going to get an economic collapse in the next 20 years that will make the Great Depression and 2008 bubble burst look like nothing.

That's the goal of the party you vote for.
And you people accuse anyone who points it out of being a racist conspiracy theorist.

 

[vantexan]

So how are the countries that all the people are running from going to survive? We don’t care about them? How has the countries that have strict boarders survive all these years? What does done for look like? Do we just all die off and then there is no America in the future without open boarders? Why aren’t the states with the most illegals the most prosperous? Why are some of these states already saying they can’t handle anymore? Could we be lied to by people that are for open boarders?

Their fertility rates tend to be considerably higher. It's primarily the advanced economies, not just Western, who have very low rates. We however pre-pandemic were admitting about a million people a year legally. Those people were vetted and met the requirements. What Biden is doing is overwhelming our systems with millions who aren't vetted, who depend on government support. We're hearing a lot about A.I. recently. That and robotics are going to eliminate a lot of jobs. And letting in millions to compete for the remaining jobs will suppress wages. I don't think this ends well.

 

[Over70irregs]

Maybe that wouldn't have been necessary if idiot Democrats didn't throw gas on the fire with wasteful spending after the pandemic was over.

Oh I thought last guy started spending. I could be wrong. We all know the number goes up to right…right no matter who….