Charles Barkley on Race. Doesn't side with Race-Baiters

[jem]

This is a pretty interesting split with reality... considering everyone knows the country does better when the Republicans control congress.


Not only when we look at GDP but also jobs...


https://www.jec.senate.gov/public/i...-the-power-of-the-purse-or-the-private-sector

"The data shows that real GDP increased by an average of 3.48% annually when Congress was controlled by Republicans, compared to 2.06% when both chambers were controlled by Democrats. Comparatively, real GDP grew almost 70% faster when Republicans were in control of the legislature compared to their Democrat colleagues. Congresses with split control actually underperformed both parties, with an average real GDP growth rate of 1.75% that is barely half of the growth rates seen during Republican Congresses."

...

Additionally, the data shows that private-sector employment tended to increase regardless of partisan control. However, private-sector employment increased by an average of 2.03% annually during Republican Congresses, compared to an average of only 0.63% during Democratic Congresses. Republican Congresses thus outperformed Democratic Congresses by an average of more than three times with regards to job creation. Congresses in which the Republicans and Democrats split control of Congress resulted in an average employment growth rate of 0.82%.

well actually the years during the time Obama was president actually saw a decrease in poverty, expanded education and employment. We benefited by lower crime and steady economic growth.

conservative policies ultimately lead to economic crashes and minority disenfranchisement.

 

[UsualName]

This is a pretty interesting split with reality... considering everyone knows the country does better when the Republicans control congress.


Not only when we look at GDP but also jobs...


https://www.jec.senate.gov/public/i...-the-power-of-the-purse-or-the-private-sector

"The data shows that real GDP increased by an average of 3.48% annually when Congress was controlled by Republicans, compared to 2.06% when both chambers were controlled by Democrats. Comparatively, real GDP grew almost 70% faster when Republicans were in control of the legislature compared to their Democrat colleagues. Congresses with split control actually underperformed both parties, with an average real GDP growth rate of 1.75% that is barely half of the growth rates seen during Republican Congresses."

...

Additionally, the data shows that private-sector employment tended to increase regardless of partisan control. However, private-sector employment increased by an average of 2.03% annually during Republican Congresses, compared to an average of only 0.63% during Democratic Congresses. Republican Congresses thus outperformed Democratic Congresses by an average of more than three times with regards to job creation. Congresses in which the Republicans and Democrats split control of Congress resulted in an average employment growth rate of 0.82%.

Well congress is a fair marker to judge too because Americans like divided government. That’s why Republican Congress does well because they usually get more time with a Democrat president. Usually democrats take over total government in the wake of a disaster caused by Republican Presidents. And make no mistake Presidents dictate legislation or there is no legislation.

I don’t know why you guys try so hard to deny the truth. It’s obvious they suck at it. Republicans are bad at running the government. They don’t like government, they don’t understand government and they are more political than problem solver.

it’s also interesting how your information omits Republican Presidents - here’s a clue, it’s because they fail bigly.

 

[jem]

Your Fantasy... is nuts... Govt is the enemy of growth and jobs...


For instance...

Tax cuts even when Obama did them.. are followed by economic expansion...



https://www.thebalance.com/tax-cuts...eral, tax cuts boost,economy in the long-term.

In 1982, Ronald Reagan cut the top income tax rate from 70% to 50%.6 The economy experienced GDP growth in the years that followed:7

• 1983: 4.6%
• 1984: 7.2%
• 1985: 4.2%

In 1988, Reagan cut the corporate tax rate from 48% to 34%.8


Bush Tax Cuts
The George W. Bush tax cuts were implemented to stop the 2001 recession. The government cut the top income tax rate from 39.6% to 35% in 2001.9


Bush also reduced the top tax rate on long-term capital gains from 20% to 15% and reduced the top dividend tax rate from 38.6% to 15%.10


The Bush tax cuts may have boosted the economy in the short-term:

• 2002: 1.7%
• 2003: 2.9%
• 2004: 3.8%
• 2005: 3.5%

However, the tax cuts might not have been the only reason for increased growth. The Federal Reserve also lowered the benchmark fed funds rate from 6% to 1.75% throughout 2001.11


The tax cuts benefited high-income individuals the most. Tax rates fell by 4.1% for the top 1% of households compared to only 2% or less for other households.


These cuts also increased the U.S. debt by $1.35 trillion over a 10-year period.12


Obama Tax Cuts
Barack Obama pushed through several tax cuts to end the Great Recession.


In February 2009, Congress passed the $787 billion American Recovery and Reinvestment Act of 2009 had $288 billion in tax cuts and incentives.13


These tax cuts included:

• A reduction in income taxes for individuals of $400 ($800 for couples)14
• Enhancements to Child Tax Credits and Earned Income Tax Credits
• A cut to payroll taxes of 2%
• Up to $10,000 for families putting a child through college
• Health care tax credits that decreased premiums by an average of 76%

The Great Recession ended in July 2009. The economy grew:

• 2.6% in 2010
• 1.6% in 2011
• 2.2% in 2012

In this case, the ARRA tax cuts were probably more effective than monetary policy in boosting growth. The Fed had already lowered rates to 0% in 2008.15


To avert the fiscal cliff in 2013, Obama agreed to extend the Bush tax cuts on incomes below $400,000 for individuals and $450,000 for married couples.16 The American Taxpayer Relief Act of 2012 taxed incomes at and above the top income threshold at the Clinton-era 39.6% tax rate.


Trump Tax Cuts
Donald Trump signed the Tax Cuts and Jobs Act on Dec 22, 2017. It cut the corporate tax rate from 35% to 20% beginning in 2018.17


It cut income tax rates, doubled the standard deduction, and eliminated personal exemptions. It also repealed the Obamacare tax on those who don't get health insurance.18


The GDP growth rate increased by about 0.7% in 2018, but it fell below 2017 levels in 2019. In 2020, the GDP sharply declined—though this was likely due in large part to the COVID-19 pandemic.


How Tax Cuts Work to Stimulate the Economy

Well congress is a fair marker to judge too because Americans like divided government. That’s why Republican Congress does well because they usually get more time with a Democrat president. Usually democrats take over total government in the wake of a disaster caused by Republican Presidents. And make no mistake Presidents dictate legislation or there is no legislation.

I don’t know why you guys try so hard to deny the truth. It’s obvious they suck at it. Republicans are bad at running the government. They don’t like government, they don’t understand government and they are more political than problem solver.

it’s also interesting how your information omits Republican Presidents - here’s a clue, it’s because they fail bigly.

 

[UsualName]

Your Fantasy... is nuts... Govt is the enemy of growth and jobs...


For instance...

Tax cuts even when Obama did them.. are followed by economic expansion...



https://www.thebalance.com/tax-cuts-definition-types-and-how-they-work-3306328#:~:text=In general, tax cuts boost,economy in the long-term.

In 1982, Ronald Reagan cut the top income tax rate from 70% to 50%.6 The economy experienced GDP growth in the years that followed:7

• 1983: 4.6%
• 1984: 7.2%
• 1985: 4.2%

In 1988, Reagan cut the corporate tax rate from 48% to 34%.8


Bush Tax Cuts
The George W. Bush tax cuts were implemented to stop the 2001 recession. The government cut the top income tax rate from 39.6% to 35% in 2001.9


Bush also reduced the top tax rate on long-term capital gains from 20% to 15% and reduced the top dividend tax rate from 38.6% to 15%.10


The Bush tax cuts may have boosted the economy in the short-term:

• 2002: 1.7%
• 2003: 2.9%
• 2004: 3.8%
• 2005: 3.5%

However, the tax cuts might not have been the only reason for increased growth. The Federal Reserve also lowered the benchmark fed funds rate from 6% to 1.75% throughout 2001.11


The tax cuts benefited high-income individuals the most. Tax rates fell by 4.1% for the top 1% of households compared to only 2% or less for other households.


These cuts also increased the U.S. debt by $1.35 trillion over a 10-year period.12


Obama Tax Cuts
Barack Obama pushed through several tax cuts to end the Great Recession.


In February 2009, Congress passed the $787 billion American Recovery and Reinvestment Act of 2009 had $288 billion in tax cuts and incentives.13


These tax cuts included:

• A reduction in income taxes for individuals of $400 ($800 for couples)14
• Enhancements to Child Tax Credits and Earned Income Tax Credits
• A cut to payroll taxes of 2%
• Up to $10,000 for families putting a child through college
• Health care tax credits that decreased premiums by an average of 76%

The Great Recession ended in July 2009. The economy grew:

• 2.6% in 2010
• 1.6% in 2011
• 2.2% in 2012

In this case, the ARRA tax cuts were probably more effective than monetary policy in boosting growth. The Fed had already lowered rates to 0% in 2008.15


To avert the fiscal cliff in 2013, Obama agreed to extend the Bush tax cuts on incomes below $400,000 for individuals and $450,000 for married couples.16 The American Taxpayer Relief Act of 2012 taxed incomes at and above the top income threshold at the Clinton-era 39.6% tax rate.


Trump Tax Cuts
Donald Trump signed the Tax Cuts and Jobs Act on Dec 22, 2017. It cut the corporate tax rate from 35% to 20% beginning in 2018.17


It cut income tax rates, doubled the standard deduction, and eliminated personal exemptions. It also repealed the Obamacare tax on those who don't get health insurance.18


The GDP growth rate increased by about 0.7% in 2018, but it fell below 2017 levels in 2019. In 2020, the GDP sharply declined—though this was likely due in large part to the COVID-19 pandemic.


How Tax Cuts Work to Stimulate the Economy

Tax cuts for consumers definitely generates economic growth. Once you start cutting taxes on people with large disposable income and wealth you hit a brick wall.

That’s why Trumps tax cuts didn’t break the trend from the obama presidency because they were targeted to businesses and the wealthy.

The key here is working people. That’s what makes the difference. Watch Biden blow out the gdp and employment numbers because he and democrats increased a tax credit only for working people with little disposable income.

 

[jem]

you don't think the pandemic had anything to do with the economy under Trump.
you don't think Biden will benefit if the pandemic ends..

I agree that I would much rather see tax cuts for the those working for a living.

I think the tax burden is already immense with the over 100 taxes we pay.

Tax cuts for consumers definitely generates economic growth. Once you start cutting taxes on people with large disposable income and wealth you hit a brick wall.

That’s why Trumps tax cuts didn’t break the trend from the obama presidency because they were targeted to businesses and the wealthy.

The key here is working people. That’s what makes the difference. Watch Biden blow out the gdp and employment numbers because he and democrats increased a tax credit only for working people with little disposable income.

 

[PintoFire]

well actually the years during the time Obama was president actually saw a decrease in poverty, expanded education and employment. We benefited by lower crime and steady economic growth.

conservative policies ultimately lead to economic crashes and minority disenfranchisement.

Where are you getting this from? No minority disenfranchisement under Obama?! We had fucking race riots. You're too young to remember or live in a fantasy land. Probably both.

This is from multiple sources. Not just NYT.
https://www.nytimes.com/2016/07/14/...d-grim-view-of-race-relations-poll-finds.html

 

[WeToddDid2]

worked for the whites in the 1920 - 1970s..

It was democrats then and it is democrats now.

 

[Townout]

This is one of the realest posts anywhere on ET or the interwebs. Crabs in a bucket works both ways.

Tsznecki is MoneyMatthew.

 

[UsualName]

Where are you getting this from? No minority disenfranchisement under Obama?! We had fucking race riots. You're too young to remember or live in a fantasy land. Probably both.

This is from multiple sources. Not just NYT.
https://www.nytimes.com/2016/07/14/...d-grim-view-of-race-relations-poll-finds.html

Ok. So a bunch of racists were outraged a black guy became president. So what? Those types are always crying and complaining.

 

[UsualName]

you don't think the pandemic had anything to do with the economy under Trump.
you don't think Biden will benefit if the pandemic ends..

I agree that I would much rather see tax cuts for the those working for a living.

I think the tax burden is already immense with the over 100 taxes we pay.

The pandemic hit in earnest in 2020. The economy under Trump and Republican tax cuts was exactly as they inherited it from Obama. Those tax cuts and deregulation did fuck all because they didn’t hit consumers.