Conservative Tax Cuts slowed the economy

L

LV426

Verified User
The government’s latest economic scorecard arrived on Thursday, offering fresh evidence that the economy continues to grow, but at a frustratingly slow pace.

Gross domestic product, which measures the value of goods and services produced inside the United States, grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to preliminary data released by the Commerce Department. As for 2019 as a whole, the report shows that the economy turned in a weaker annual showing than it did in 2017 and 2018.

https://www.nytimes.com/2020/01/30/business/economy/gdp-numbers.html

I'm old enough to remember when Conservatives said their tax cut would lead to at least 3% growth.
 
Global slowdown -but it's still 2.3 for 2019. more important is the blue collar and middle class wage growth

Blue-Collar Labor Boom Reduces Inequality
https://www.whitehouse.gov/articles/blue-collar-labor-boom-reduces-inequality/

Rising paychecks for blue-collar workers are shrinking the wage gap
https://www.usatoday.com/story/opin...equality-shrinking-economy-column/1955329001/

In the past three years, white-collar workers, the sector that the Bureau of Labor Statistics classifies as “Management, Professional, and Related Occupations” and which encompasses 40% of the workforce, have seen their wages grow by nearly 7.5%. During the same period, all other workers, a group composed almost entirely of noncollege grads, have seen their paychecks grow by about 10 percent.
 
LV426 said:
The government’s latest economic scorecard arrived on Thursday, offering fresh evidence that the economy continues to grow, but at a frustratingly slow pace.

Gross domestic product, which measures the value of goods and services produced inside the United States, grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to preliminary data released by the Commerce Department. As for 2019 as a whole, the report shows that the economy turned in a weaker annual showing than it did in 2017 and 2018.

https://www.nytimes.com/2020/01/30/business/economy/gdp-numbers.html

I'm old enough to remember when Conservatives said their tax cut would lead to at least 3% growth.
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NYT???? :rofl2:

What a pile of stupid. :rolleyes:
 
dukkha said:
Global slowdown -but it's still 2.3 for 2019. more important is the blue collar and middle class wage growth
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Thanks to minimum wage increases. But nice how you're trying to pretend wage growth wasn't skewed at the top and bottom.

Where's the 3% growth you promised?
 
LV426 said:
Thanks to minimum wage increases. But nice how you're trying to pretend wage growth wasn't skewed at the top and bottom.

Where's the 3% growth you promised?
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let's put it this way for you,

when a liberal nut**bag is complaining that he get's to keep more of his money, we've won, hugely
 
dukkha said:
In the past three years, white-collar workers, the sector that the Bureau of Labor Statistics classifies as “Management, Professional, and Related Occupations” and which encompasses 40% of the workforce, have seen their wages grow by nearly 7.5%. During the same period, all other workers, a group composed almost entirely of noncollege grads, have seen their paychecks grow by about 10 percent.
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Well, inflation was 4%, which means white collar saw their real wages grow by just 3.5% over three years (1.2% growth a year) and the "blue collar" saw their grow just 7% over three years, (3.33% per year, thanks to Minimum Wage increases).

That is, if these numbers are to be believed and aren't hiding exculpatory info inside them, like the MW increases.
 
Getin the ring said:
let's put it this way for you,

when a liberal nut**bag is complaining that he get's to keep more of his money, we've won, hugely
Click to expand...

That's not 3% growth.

You all promised growth of at least 3%.

Instead, you got growth of 2.3%, which is no better than Obama's average over his second term.

Where's the 3%?
 
LV426 said:
That's not 3% growth.

You all promised growth of at least 3%.

Instead, you got growth of 2.3%, which is no better than Obama's average over his second term.

Where's the 3%?
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you're still complaining you get to keep more of your money

I would suggest you get your diaper changed and pick another subject
 
So, the left has given up on impeachment and is now screaming about our booming economy.

Lots of luck with that.
 
Getin the ring said:
you're still complaining you get to keep more of your money

I would suggest you get your diaper changed and pick another subject
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But you made an over-promise.

Why did you over-promise?

How come you had to predict growth of at least 3%?

Is it because you knew there was no way you could achieve that, but you wanted to get people's hopes up?
 
LV426 said:
But you made an over-promise.

Why did you over-promise?

How come you had to predict growth of at least 3%?

Is it because you knew there was no way you could achieve that, but you wanted to get people's hopes up?
Click to expand...

1c5dhw.jpg
 
LV426 said:
Well, inflation was 4%, which means white collar saw their real wages grow by just 3.5% over three years (1.2% growth a year) and the "blue collar" saw their grow just 7% over three years, (3.33% per year, thanks to Minimum Wage increases).

That is, if these numbers are to be believed and aren't hiding exculpatory info inside them, like the MW increases.
Click to expand...
ROFL @ "4% inflation" <-where I stopped reading
 
dukkha said:
Global slowdown -but it's still 2.3 for 2019. more important is the blue collar and middle class wage growth

Blue-Collar Labor Boom Reduces Inequality
https://www.whitehouse.gov/articles/blue-collar-labor-boom-reduces-inequality/

Rising paychecks for blue-collar workers are shrinking the wage gap
https://www.usatoday.com/story/opin...equality-shrinking-economy-column/1955329001/

In the past three years, white-collar workers, the sector that the Bureau of Labor Statistics classifies as “Management, Professional, and Related Occupations” and which encompasses 40% of the workforce, have seen their wages grow by nearly 7.5%. During the same period, all other workers, a group composed almost entirely of noncollege grads, have seen their paychecks grow by about 10 percent.
Click to expand...
MORON.
The global economy follows the US.
Inflation is 2.3
Between the tarrifs and the tax cuts the US economy is shrinking.
 
dukkha said:
Global slowdown -but it's still 2.3 for 2019. more important is the blue collar and middle class wage growth

Blue-Collar Labor Boom Reduces Inequality
https://www.whitehouse.gov/articles/blue-collar-labor-boom-reduces-inequality/

Rising paychecks for blue-collar workers are shrinking the wage gap
https://www.usatoday.com/story/opin...equality-shrinking-economy-column/1955329001/

In the past three years, white-collar workers, the sector that the Bureau of Labor Statistics classifies as “Management, Professional, and Related Occupations” and which encompasses 40% of the workforce, have seen their wages grow by nearly 7.5%. During the same period, all other workers, a group composed almost entirely of noncollege grads, have seen their paychecks grow by about 10 percent.
Click to expand...

If this is true......(I BELIEVE NOTHING YOU POST)

Wage growth came from states that raised their mimimum wage......
 
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