Biden's Economy?

[Hawkeye]

The top seven states with the highest rate of death are all Red States. But yeah, those restaurants didn't have to deal with masks huh? Too bad they have fewer customers now thanks to their stupidity. Hard to buy food when you're dead.

Really? I'm still alive along with darn near everyone else in Florida. If you think a few old people being able to roam free is worth this kind of economic devastation than you need to pay for it yourself. Thank God for De Santis being willing to take this kind of political bullying that allowed us to continue to have a life and freedom rather than biomedical security state.

[canpakes]

While blue states were locked down far longer than they ever should have been, Florida was working and producing in spite of accusations of murder coming from the left. People continue to move to Florida attracted by freedom, low state taxes, and De Santis is likely to win this gubernatorial election with much greater margin than last time.

Being a welfare state, and taking net federal handouts that are almost 200 times more than California takes per citizen probably helps a little.

I imagine low taxes can be easy to budget when you are a giant welfare queen and making everyone else pay for you.

It also helps to be surrounded by beaches, and to heavily tax tourism and visitors.

Out-of-state visitors alone generated nearly $5.5 billion in local tax revenue in 2016. Those dollars are used by counties to fund our schools, keep our communities safe, build and maintain infrastructure projects, protect the environment, keep our beaches and parks thriving and support area arts and culture.The volume of visitors to our state each year also help provide us with more options including more restaurants, more shops and more flights when traveling by air for business or pleasure.

Not only do these dollars contribute to county residents’ quality of life, they also lessen their tax burden. When visitors are spending money in our counties and generated tax revenue, that means less money locals will have to pay for taxes. On average, tourism helps Florida families save more than $1,500 each year in taxes.

Speaking of taxes, one of the biggest benefits tourism provides Floridians, is no state income tax. Thanks to the state tax revenue generated by tourism, Florida doesn’t need to levy a state income tax on its residents.

Not only does tourism build and support Florida’s local communities, it offers huge benefits to the state. One of the biggest of which is it puts 1.4 million of our fellow Floridians to work. The tourism industry offers more employment opportunities to Floridians than any other industry in the state. Also, tourism accounts for $3 billion in total sales tax collections for the state.

Thanks to tourism, our quality of life is better, our communities stronger, friends and family have jobs and all of us are able to keep more money in our pockets. That is the value of tourism to each Floridian and the reason why we need to keep promoting Florida to potential visitors and keep them coming back to the Sunshine State.

https://www.fadmo.org/value-of-tourism

When ajax goes to Florida, he can help to pay the State of Florida’s way, through gas, rental and hotel taxes. Until then, he can help foot their disaster recovery efforts without even leaving his house, through Federal handouts that they receive following hurricanes and floods.

[Doctor CamNC4Me]

The top seven states with the highest rate of death are all Red States. But yeah, those restaurants didn't have to deal with masks huh? Too bad they have fewer customers now thanks to their stupidity. Hard to buy food when you're dead.

Really? I'm still alive along with darn near everyone else in Florida. If you think a few old people being able to roam free is worth this kind of economic devastation than you need to pay for it yourself. Thank God for De Santis being willing to take this kind of political bullying that allowed us to continue to have a life and freedom rather than biomedical security state.

Deaths in the United States increased by 19% between 2019 and 2020.

- Doc

[Hawkeye]

Not taking action to ensure our national security because we can't put a finger on the exact moments it will "solve the problem" is one of the most short-sighted selfish thing I've seen.

You need to be able to justify the increased cost of gasoline, utilities, corporate green energy welfare, etc. to the taxpayer. There's nothing selfish about demanding to see results from your investments. People have to balance quality of life with cost all the time.

[Doctor Steuss]

Not taking action to ensure our national security because we can't put a finger on the exact moments it will "solve the problem" is one of the most short-sighted selfish thing I've seen.

You need to be able to justify the increased cost of gasoline, utilities, corporate green energy welfare, etc. to the taxpayer. There's nothing selfish about demanding to see results from your investments.

The justification is our national security. The result of the investment is our national security.

Tah-dah!

[canpakes]

.
In other news, the labor participation rate this month is up .7%, compared to this same time last year.

Thanks, Obama.

[Hawkeye]

Powell Contradicts Biden, Says Inflation Still Too High

Fed chief Jerome Powell does not agree with President Joe Biden on inflation.



At a press conference on Wednesday, Powell said that inflation has not fallen, directly contradicting the president’s assertion on 60 Minutes over the weekend that inflation had fallen and prices were now rising “just an inch, hardly at all.”

“If you really look at this year’s inflation—three, six, and 12 month trailing—you see inflation is running too high. It’s running 4.5 percent or above. You don’t need to know much more than that,” Powell said.

Powell went on to say that this was not where the Fed expected or wanted inflation to be at this point. The Fed had thought that resolving supply chain issues would bring down inflation but so far there is little evidence of that.

“We have seen some supply side healing but inflation has not really come down,” Powell said. “If you look at core PCE inflation, which is a good measure of where inflation is running now, if you look at it on a three, six, and 12 month trailing basis, you’ll see that inflation is at 4.8 percent, 4.5 percent, and 4.8 percent.”

Powell indicated that the high level of inflation indicated that the Fed could press on with its aggressive interest rate increases.

“What that tells us is that we need to continue, and we can keep doing these—and we did today, another large increase—as we approach the level we think we need to get to. And we’re still discovering what that level is,” Powell said.

https://www.breitbart.com/economy/2022/ ... -too-high/

[Doctor Steuss]

I think that for once in history, the fed increasing the rate is the wrong thing for combating inflation. It's just going to make things harder for everyone, and stifle the economy.

In my opinion, the biggest issues driving inflation are labor shortages, and supply-chain issues. Raising rates isn’t going to fill job openings, reducing the cost of labor. Raising rates isn’t going to make supply shortages disappear, reducing the cost of goods.

This time, the fed is the wrong tool for the job.

[Hawkeye]

I think that for once in history, the fed increasing the rate is the wrong thing for combating inflation. It's just going to make things harder for everyone, and stifle the economy.

In my opinion, the biggest issues driving inflation are labor shortages, and supply-chain issues. Raising rates isn’t going to fill job openings, reducing the cost of labor. Raising rates isn’t going to make supply shortages disappear, reducing the cost of goods.

This time, the fed is the wrong tool for the job.

We could consider coaxing workers over 67 back into the labor force by suspending the social security tax for people over 67? It's not like they're paying social security tax while they are sitting at home.

[Doctor Steuss]

I think that for once in history, the fed increasing the rate is the wrong thing for combating inflation. It's just going to make things harder for everyone, and stifle the economy.

In my opinion, the biggest issues driving inflation are labor shortages, and supply-chain issues. Raising rates isn’t going to fill job openings, reducing the cost of labor. Raising rates isn’t going to make supply shortages disappear, reducing the cost of goods.

This time, the fed is the wrong tool for the job.

We could consider coaxing workers over 67 back into the labor force by suspending the social security tax for people over 67? It's not like they're paying social security tax while they are sitting at home.

I see no problem with it, but it would be a drop-in-the-bucket at best, and a very short-term fix.

I don't foresee people living in retirement scrambling in droves to re-enter the workforce to hang drywall, work in factories, bus tables, or stock retail shelves, just because they can get paid 6.2% more than other people doing it.

ETA: In thinking about it more, I wonder what kind of federal/IRS administrative cost, as well as burden on employers there would be because of the unavoidable additional accounting, verification, and paperwork involved.