Trump 2.0: MAGAA

[kalm]

Do you know any working class people? Do you know any with children? Do you know any who have a catastrophic illness in their family? Or who got laid off in their 60’s or 60’s and are too old to get hired for a decent paying job?

I do.

Paycheck to paycheck is real and many are just a broken down car or family illness away from a bankruptcy situation.

The economy is based on these people being consumers who chase the American dream through home ownership, sending kids to college, affording streaming services and/or cable, and cell phones.

You can be as judgy as you’d like but economics doesn’t care about your feelings.

Show me what they spend their paychecks on

by the way, Trump’s big beautiful Bill will help these low middle income people much more than raising their taxes

You are proving my point. We are a consumer driven economy and while it’s easy to pick apart and judge spending habits on practically anyone, the economy and consumer demand don’t care. Neither does the impending disease that comes knocking and bankrupts people even with insurance.

Their tax savings are negligible and things like eliminating taxes on tips are temporary.

We’ve tried supply side for decades. It doesn’t work.

[BDKJMU]

[Caribbean Hen]

Show me what they spend their paychecks on

by the way, Trump’s big beautiful Bill will help these low middle income people much more than raising their taxes

You are proving my point. We are a consumer driven economy and while it’s easy to pick apart and judge spending habits on practically anyone, the economy and consumer demand don’t care. Neither does the impending disease that comes knocking and bankrupts people even with insurance.

Their tax savings are negligible and things like eliminating taxes on tips are temporary.

We’ve tried supply side for decades. It doesn’t work.

The weak minded who succumb to stupid commercials and think they just gotta have that piece of junk I saw on the shopping channel made a choice

A bad choice

[kalm]

You are proving my point. We are a consumer driven economy and while it’s easy to pick apart and judge spending habits on practically anyone, the economy and consumer demand don’t care. Neither does the impending disease that comes knocking and bankrupts people even with insurance.

Their tax savings are negligible and things like eliminating taxes on tips are temporary.

We’ve tried supply side for decades. It doesn’t work.

The weak minded who succumb to stupid commercials and think they just gotta have that piece of junk I saw on the shopping channel made a choice

A bad choice

No disagreement here. Pretty tough to unravel the cultural phenomenon of consumerism and materialism when it’s directly tied to the economy and has been a driving force for decades.

[Caribbean Hen]

The weak minded who succumb to stupid commercials and think they just gotta have that piece of junk I saw on the shopping channel made a choice

A bad choice

No disagreement here. Pretty tough to unravel the cultural phenomenon of consumerism and materialism when it’s directly tied to the economy and has been a driving force for decades.

That’s why they don’t teach it in school

One needs a good upbringing grounded in common sense to fight that

[UNI88]

You are proving my point. We are a consumer driven economy and while it’s easy to pick apart and judge spending habits on practically anyone, the economy and consumer demand don’t care. Neither does the impending disease that comes knocking and bankrupts people even with insurance.

Their tax savings are negligible and things like eliminating taxes on tips are temporary.

We’ve tried supply side for decades. It doesn’t work.

The weak minded who succumb to stupid commercials and think they just gotta have that piece of junk I saw on the shopping channel made a choice

A bad choice

That includes all of the people buying trump branded junk - sneakers, watches, etc.

[UNI88]

What makes that tribute epic?

You would have to have an appreciation for the country you live in to understand

I do - this country was magnificent in 2015, 2019, 2023 and it still is magnificent.

I'm not one of those faux-patriots who doesn't appreciate our country and thinks America needs to be made great again.

[kalm]

No disagreement here. Pretty tough to unravel the cultural phenomenon of consumerism and materialism when it’s directly tied to the economy and has been a driving force for decades.

That’s why they don’t teach it in school

One needs a good upbringing grounded in common sense to fight that

That ship sailed long ago and you can’t make teaching anti-material and consumerism parenting compulsory.

Think it through, man.

[UNI88]

Legendary fund manager has blunt message on 'Big Beautiful Bill'

Specifically, Dalio believes that our substantial and growing debt pile has us on a collision course with an economic Armageddon.

He predicts that as our spending increases, people and governments will balk at buying our debt, causing a spiral that could result in either Treasury debt defaults or restructuring.

Unfortunately, Dalio sees little political will in Washington, D.C., to cut the spending cord, as evidenced by Congress passing the One Big Beautiful Bill.

"After spending time in Washington, D.C., discussing the budget deficit with senior people on both sides of the aisle, it’s clear to me that we are unlikely to change the debt trajectory we’re on and avoid the painful consequences," wrote Dalio on X.

The toll taken by passing the One Big Beautiful Bill is a stiff one.

The CBO estimates that the bill adds a whopping $7 trillion a year in spending and only generates about $5 trillion in revenue. As a result, debt relative to GDP will surge, adding more pressure to the economy.

"The debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over 10 years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family," noted Dalio. "That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments)."

That's a lot of money. And Dalio thinks it will require some pretty uncomfortable fixes down the road.

"[It] will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and U.S. credit markets is bad for everyone," said Dalio. "Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur." and growing debt pile has us on a collision course with an economic Armageddon.

He predicts that as our spending increases, people and governments will balk at buying our debt, causing a spiral that could result in either Treasury debt defaults or restructuring.

Sent from my iPhone using Tapatalk

[Caribbean Hen]

That’s why they don’t teach it in school

One needs a good upbringing grounded in common sense to fight that

That ship sailed long ago and you can’t make teaching anti-material and consumerism parenting compulsory.

Think it through, man.

Do you speak English?

[kalm]

That ship sailed long ago and you can’t make teaching anti-material and consumerism parenting compulsory.

Think it through, man.

Do you speak English?

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

[houndawg]

Do you speak English?

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

If you can say that with some smaller words I think he'd have a good chance of understanding

[kalm]

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

If you can say that with some smaller words I think he'd have a good chance of understanding

They done spent all their nickels on whiskey, poker, and soiled doves.

[BDKJMU]

Do you know any working class people? Do you know any with children? Do you know any who have a catastrophic illness in their family? Or who got laid off in their 60’s or 60’s and are too old to get hired for a decent paying job?

I do.

Paycheck to paycheck is real and many are just a broken down car or family illness away from a bankruptcy situation.

The economy is based on these people being consumers who chase the American dream through home ownership, sending kids to college, affording streaming services and/or cable, and cell phones.

You can be as judgy as you’d like but economics doesn’t care about your feelings.

Show me what they spend their paychecks on

by the way, Trump’s big beautiful Bill will help these low middle income people much more than raising their taxes

Exactly. If you have:
-Cell phones
-Internet
-TV
-2 cars
-Eat out
-Take vacations
-Ever buy alcohol/cigarettes/pot/lottery tickets
-Have tats
-Have pets

You ain’t poor. We have the richest poor people in the world.

[BDKJMU]

No disagreement here. Pretty tough to unravel the cultural phenomenon of consumerism and materialism when it’s directly tied to the economy and has been a driving force for decades.

That’s why they don’t teach it in school

One needs a good upbringing grounded in common sense to fight that

Our schools utterly fail in teaching basic economics.

[BDKJMU]

Time for freeloaders to get off their ass.

….The provision requires able-bodied, childless adults between the ages of 18 and 64 to work at least 80 hours a month to be eligible to receive Medicaid benefits. Individuals can also meet the requirement by ​​participating in community service, going to school or engaging in a work program…

…. "Seven million healthy American men out there of working age are not working right now," Marshall continued. "We happen to have seven million open jobs as well. I think I want to do everything I can to help those seven million men find a job. Whether that's through an education or community colleges, technical colleges, I think there's lots of opportunity out there."

Sen. Bill Hagerty, R-Tenn., said "the disincentives to work are a real problem here in America."

"It's amazing that Democrats are trying to make this argument," he said. "I don't think that taxpayers should be footing the bill at all for able-bodied citizens. And certainly, non-citizens should not be getting the benefit of this."

"We need to incentivize work," Hagerty went on. "And certainly, you don't want to be incentivizing a burden on taxpayers."

"We've got to take care of the people that need to be taken care of and it's just unfortunate you've got a lot of freeloaders in this country," said Sen. Tommy Tuberville, R-Ala.

Tuberville claimed that many of those he deemed as freeloaders "are coming from the younger ranks because they've grown up, they've got all these student loans, they got a degree that's not worth anything, they can't get a job or they don't want to work and so the way they've done they've turned into socialists, they started living off the government."

"We can't have that. We’ve got to get back to work. This country is built on hard work," he said.

Meanwhile, Sen. Ron Johnson, R-Wis., said he also agrees with the work requirement, telling Fox News Digital that "quite honestly, what we're trying to do is stop enrollment in that Obamacare addition to Medicaid."

"They call it Medicaid expansion, but it's Obamcare. It was Democrats' way of trying to turn us into a single-payer system. And so, it incentivized the states to sign up single able-bodied individuals," he claimed.

"As a result," he went on. "We've created all kinds of [what] I would call legalized fraud on the part of states … Now that they've designed their budgets around that scam, now they're screaming when we're trying to end the scam."…

https://www.foxnews.com/politics/republ ... k-work.amp

[BDKJMU]

[BDKJMU]

And the CBO didn’t count this exploding revenue stream when scoring the BBB..

[Caribbean Hen]

The weak minded who succumb to stupid commercials and think they just gotta have that piece of junk I saw on the shopping channel made a choice

A bad choice

That includes all of the people buying trump branded junk - sneakers, watches, etc.

It really depends on if they can afford it or not

If they’re gonna buy the stuff and then complain about their benefits and they can’t live the American dream then they are the problem

[Caribbean Hen]

Time for freeloaders to get off their ass.

….The provision requires able-bodied, childless adults between the ages of 18 and 64 to work at least 80 hours a month to be eligible to receive Medicaid benefits. Individuals can also meet the requirement by ​​participating in community service, going to school or engaging in a work program…

…. "Seven million healthy American men out there of working age are not working right now," Marshall continued. "We happen to have seven million open jobs as well. I think I want to do everything I can to help those seven million men find a job. Whether that's through an education or community colleges, technical colleges, I think there's lots of opportunity out there."

Sen. Bill Hagerty, R-Tenn., said "the disincentives to work are a real problem here in America."

"It's amazing that Democrats are trying to make this argument," he said. "I don't think that taxpayers should be footing the bill at all for able-bodied citizens. And certainly, non-citizens should not be getting the benefit of this."

"We need to incentivize work," Hagerty went on. "And certainly, you don't want to be incentivizing a burden on taxpayers."

"We've got to take care of the people that need to be taken care of and it's just unfortunate you've got a lot of freeloaders in this country," said Sen. Tommy Tuberville, R-Ala.

Tuberville claimed that many of those he deemed as freeloaders "are coming from the younger ranks because they've grown up, they've got all these student loans, they got a degree that's not worth anything, they can't get a job or they don't want to work and so the way they've done they've turned into socialists, they started living off the government."

"We can't have that. We’ve got to get back to work. This country is built on hard work," he said.

Meanwhile, Sen. Ron Johnson, R-Wis., said he also agrees with the work requirement, telling Fox News Digital that "quite honestly, what we're trying to do is stop enrollment in that Obamacare addition to Medicaid."

"They call it Medicaid expansion, but it's Obamcare. It was Democrats' way of trying to turn us into a single-payer system. And so, it incentivized the states to sign up single able-bodied individuals," he claimed.

"As a result," he went on. "We've created all kinds of [what] I would call legalized fraud on the part of states … Now that they've designed their budgets around that scam, now they're screaming when we're trying to end the scam."…

https://www.foxnews.com/politics/republ ... k-work.amp

This is the best part about Trump’s bill if you ask me

Time for the lazy, spoiled, rotten entitled ones to get off their ass

[kalm]

We’ve buried our dead and rebuilt our churches and claimed it as character, but the truth is darker than folklore and more damning than scripture: we keep suffering, in part, because we keep electing people who think government help is a sin.
Let me say it plainly because subtlety is a luxury in a drowning land: You cannot bootstrap your way out of a flash flood.

You cannot marketize a levee. You cannot libertarian your way through a tornado tossing a double-wide half a mile down the road or the flood waters ripping a child from your arms. The water does not care about your tax philosophy. The wind is not impressed by your rugged individualism. The fire has no love for your private-sector ingenuity.
But the National Weather Service does. FEMA does.

At least, they did, back when they had the funding, the mandate, and the political will to act as if America was one nation, indivisible, under threat by forces that no human can stop but for which some can prepare

.

https://open.substack.com/pub/therickwi ... medium=ios

[Caribbean Hen]

Do you speak English?

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

This is actually very similar to what I said earlier in the thread, but you either didn’t read it or can’t remember it

Or it could be, you’re finally coming around to the brilliance of Caribbean Hen

[UNI88]

Do you speak English?

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

I didn't learn fiscal responsibility or even how to balance a checkbook in school. My parents, who grew up in the Great Depression, taught me fiscal responsibility and I figured out how to balance a checkbook on my own.

Schools can and should teach basic economics but traditionally, it hasn't been their responsibility. It's disingenuous for others to beat them up over something they haven't been formally asked to do.

[UNI88]

Will Trump's big tax bill help or hurt you? Why it could depend on your income

President Donald Trump’s tax bill could make future generations "worse off," no matter their income, according to a new report from the Penn Wharton Budget Model.
...
A June analysis of the House bill by the Congressional Budget Office, for instance, found resources for the poorest would decrease by about $1,600 per year under the legislation, largely because of cuts to Medicaid and food aid ‒ which would be more aggressive under the Senate bill. Meanwhile, the wealthiest would gain about $12,000 on average.

Another June report from the Yale Budget Lab suggests the bottom fifth of earners would lose about $560 per year while the top 20% would gain $6,000.

But all future generations, no matter their income, would experience lifetime losses, according to the Penn Wharton Budget Model. High-income households are set to lose $5,700 under the Senate's bill, while low-income households would lose $22,000. The report points to a reduced Social Security net and lower wages as the main drivers.

Under the House bill, the Penn Wharton Budget Model projected lifetime losses ranging from $500 for high-income households to $15,800 for low-income households.

"The future generations, they're going to be worse off. It doesn't matter where on the income bracket they fall," Smetters said. "Ultimately, someone has to pay for (the tax bill), and we’re basically passing it on to the next generation."

[kalm]

I’ll try again.

Parents, brought up in a culture based on rampant materialism, may not see the threat it imposes. Schools can teach personal finance all they want but if the kids go home to parents who identify self worth and are motivated purely by the acquisition of things, it becomes an uphill battle.

Yet, corporations and the general economy need that soul crushing desire to buy, buy, buy. Regardless of whether they’re spending within their own means.

IE: Neither parents nor greater society are effectively teaching the values of fiscal responsibility.

I didn't learn fiscal responsibility or even how to balance a checkbook in school. My parents, who grew up in the Great Depression, taught me fiscal responsibility and I figured out how to balance a checkbook on my own.

Schools can and should teach basic economics but traditionally, it hasn't been their responsibility. It's disingenuous for others to beat them up over something they haven't been formally asked to do.

Agree