Baby Boomers aka the Worst Generation

[UsualName]

1. usual name - how does a budget imbalance cause inflation if the money is borrowed? The point of borrowing the money is to avoid inflation... correct?

2. You don't know that tax cuts caused the budget deficit. Tax revenues went up after the tax cuts so you should either blame the spending increases are say we don't know what impact the tax cuts had on the budget deficit.

3. regarding the numbers.
We have had 10 to 20 million anchor babies since Reagan.
700,000 to a million naturalizations per year since 1988 (on average) .
And we are not counting the 10 to 30 million illegal immigrants who do show up on the census and who do get benefits and some work and take jobs.

In the past we had a thread here were this was documented.

By the way I am not putting down citizens... they are Americans like me... not sure about you are you american?

But, I am saying they are large part of the reason for the wealth inequality you tried to blame on Reagan.

Generally, Government debt creates inflation by injecting new money into the economy and weakingnspending power. However, this is dependent on the conditions of the economy.

Well did revenue stay in line with historical revenue growth or did it diminish. There is the law of diminishing returns to consider and of course inflation.

Anchor babies is a derogatory term. You should stop using derogatory terms for Americans for something they had no control over.

I don’t know what your point about immigration is. Immigrants at every economic level help grow the economy. There was no greater surge im aware of during the recent past of immigrants, nor am I aware they performed less well compared to other generations of immigrants or Americans in general. I would appreciate any research on this. May be interesting.

Of course I’m an American. This is why I care about American issues.

 

[jem]

usual name...
are you not getting the fact that borrowed money is not new money being injected into the economy? You might argue that the borrowed money is being misallocated and therefore may cause some spot inflation where there may have been more spending, saving or investment somewhere else. But, the point of borrowing money instead of printing is to avoid inflation.

If that is not correct please let me know.


2. Revenue went up dramatically after Reagan's tax cuts as did the share that the 1 percent paid. Here is a chart showing that as you cut tax rates Tax revenues have gone up. see below..

3. My point about immigration should be obvious to any concerned about a disparity in wealth as you were. If you import people on the low end of the financial spectrum you create more wealth disparity. If you bring in 40 million mostly poor people you are going to wreak havoc on your wealth distribution scores.

4. As far as being politically correct about the term anchor babies... I will decide when I decide to be PC not you. Technically, my wife is an anchor baby as her parents were not yet citizens when she was born here. I am married to an anchor baby so I will decide when I use that term. Thank you very much.

 

[UsualName]

usual name...
are you not getting the fact that borrowed money is not new money being injected into the economy? You might argue that the borrowed money is being misallocated and therefore may cause some spot inflation where there may have been more spending, saving or investment somewhere else. But, the point of borrowing money instead of printing is to avoid inflation.

If that is not correct please let me know.


2. Revenue went up dramatically after Reagan's tax cuts as did the share that the 1 percent paid. Here is a chart showing that as you cut tax rates Tax revenues have gone up. see below..

3. My point about immigration should be obvious to any concerned about a disparity in wealth as you were. If you import people on the low end of the financial spectrum you create more wealth disparity. If you bring in 40 million mostly poor people you are going to wreak havoc on your wealth distribution scores.

4. As far as being politically correct about the term anchor babies... I will decide when I decide to be PC not you. Technically, my wife is an anchor baby as her parents were not yet citizens when she was born here. I am married to an anchor baby so I will decide when I use that term. Thank you very much.

What you are not accounting for is tax receipts as a percent of gdp.

https://fred.stlouisfed.org/series/FYFRGDA188S

 

[jem]

If the tax cuts work as (properly) designed, the gdp should expand fast and hopefully faster than the increased tax revenues. That is the point of tax cuts. Increase the private economy so revenues go up. We are not trying to maximize govt we are trying to maximize the income of the people.

If you could fully fund the govt and reduce income taxes to 1%... would that not be great for the people and probably the govt as well? There would be less crime, there would be less need for assistance etc.

What you are not accounting for is tax receipts as a percent of gdp.

https://fred.stlouisfed.org/series/FYFRGDA188S

 

[UsualName]

and as I tell lefties almost everytime this subject comes up and they learn that revenues can and frequently do go up after tax cuts... there is no reason to care about revenues as a percent of GDP in this context .

If the tax cuts work as they should the gdp should expand faster then the increased tax revenues. That is the point of tax cuts. Increase the private economy so revenues go up. We are not trying to maximize govt we are trying to maximize the income of the people.

If you could fully fund the govt and reduce income taxes to 1%... would that not be great for the people and probably the govt as well? There would be less crime, there would be less need for assistance etc.

Wouldn’t it be nice if it did maximize the income of people. Too bad that did not happen because of... wait for it... inflation.

 

[jem]

Well at least we both seem to agree that inflation destroys the life's work of most working families and contributes to wealth mal - distribution.

Now... if we could get people to understand what caused massive inflation even thought the dollar should have gotten stronger because of world demand.

Wouldn’t it be nice if it did maximize the income of people. Too bad that did not happen because of... wait for it... inflation.