MAGA MAN (11-22-2019)
Just like what happened after the last Conservative Tax Cut, borrowing ramped up following the tax cut.
So the tax cut did not put more money into people's hands, nor did it raise wages.
Instead, it did what it always does; increases debt.
Consumers are going deeper into debt using personal loans
All three credit agencies report double-digit growth in these unsecured loans
In addition to student loans and credit cards, personal loans have now become something of concern to economists. Consumers have used these unsecured loans to go on a spending spree lately.
https://www.consumeraffairs.com/news...ns-112219.html
When I die, turn me into a brick and use me to cave in the skull of a fascist
MAGA MAN (11-22-2019)
Guno צְבִי (11-22-2019)
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
All tax cuts do is cause debt. That's why they're Conservative policy. Conservatives deliberately manufacture budget crises with their tax cuts, then use those crises as an excuse to extract punitive spending cuts on those they sanctimoniously judge.
Meanwhile, the GOP and Trump just spent $30B buying the votes of farmer trash whose businesses they ruined with their Trade War.
When I die, turn me into a brick and use me to cave in the skull of a fascist
Guno צְבִי (11-22-2019), TTQ64 (11-22-2019)
excellent.Consumers have used these unsecured loans to go on a spending spree lately.
consumers do not borrow for shopping in a bad economy, they hoard and don't shop.
Wages are up (skewed) more for lower incomes then da rich. Consumer confidence is awesome
Unemployment at record lows -including women and minorities. Trump's economy is booming for all
Truth Detector (11-22-2019)
Truth Detector (11-22-2019)
Consumers borrow because they don't have wages high enough to participate in the economy.
This is basic economics that you're failing.
No they're not. This is another lie. If wages were up, then borrowing would go down because people would be spending their wages instead of borrowing.Wages are up (skewed) more for lower incomes then da rich.
There's a reason every economist warns of debt bubbles.
GDP last quarter: 1.9%Unemployment at record lows -including women and minorities. Drumpf's economy is booming for all
That's "booming"?
When I die, turn me into a brick and use me to cave in the skull of a fascist
TTQ64 (11-22-2019)
Tax cuts result in spending cuts on essential services to close deficits that come from a decline in revenue, which forces consumers to borrow more in order to meet costs.
Take tuition for instance...
Kansas cut taxes in 2012 and the result was the elimination of the budget surpluses and the creation of deficits. To balance the budget thrown out of whack by tax cuts, Topeka cut funding to the State College System, which resulted in increased tuition costs, which results in increased student loan borrowing.
Most Americans don’t realize state funding for higher ed fell by billions
https://www.pbs.org/newshour/educati...ll-by-billions
When I die, turn me into a brick and use me to cave in the skull of a fascist
TTQ64 (11-22-2019)
consumers aren't going to go into debt just for consumer spending. If the economy was bad they would be pulling back on spending!
Instead they are so confident they are taking out car loans, housing etc, at a record pace - confident they can pay it back and spend now
Workers at the lower end of the pay scale finally are getting the most benefit from rising wagesNo they're not. This is another lie. If wages were up, then borrowing would go down because people would be spending their wages instead of borrowing.
https://www.cnbc.com/2019/03/13/work...ing-wages.html
Truth Detector (11-22-2019)
TTQ64 (11-22-2019)
They're not pulling back on spending because of the ease by which they can get these unsecured personal loans, moron.
THANKS TO MINIMUM WAGE INCREASES.Workers at the lower end of the pay scale finally are getting the most benefit from rising wages
In 2019, 19 states raised their MW.
When I die, turn me into a brick and use me to cave in the skull of a fascist
TTQ64 (11-22-2019)
TTQ64 (11-22-2019)
Truth Detector (11-22-2019)
dukkha (11-22-2019), Sailor (11-22-2019), Truth Detector (11-22-2019)
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
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