While Cooling Slightly, Inflation Remains Stubbornly High

[Saucy]

Inflation showed continued signs of cooling off in February but remained stubbornly high and well above the Federal Reserve's 2% target in the year's second month, according to the latest data from the Bureau of Labor Statistics released Tuesday morning.

The Consumer Price Index (CPI) revealed headline inflation rose 0.4% over last month and 6% over the prior year in February, a slowdown from January's 0.5% month-over-month increase and 6.4% annual gain. Both measures were in-line with economist expectations, according to data from Bloomberg.

Inflation: Consumer prices rise 6% over last year in February, slowest since Sept. 2021

Inflation showed signs of cooling in February after prices picked up to start the year, according to the latest data released Tuesday morning.

www.yahoo.com

 

[iluvatar5150]

Inflation: Consumer prices rise 6% over last year in February, slowest since Sept. 2021

Inflation showed signs of cooling in February after prices picked up to start the year, according to the latest data released Tuesday morning.

www.yahoo.com

If anybody is wondering, the 0.4% month-over-month increase comes out to an annual rate of 4.9%

 

[disciple Clint]

Inflation: Consumer prices rise 6% over last year in February, slowest since Sept. 2021

Inflation showed signs of cooling in February after prices picked up to start the year, according to the latest data released Tuesday morning.

www.yahoo.com

And yet the Biden administration wants to continue to spend and increase taxes

 

[iluvatar5150]

And yet the Biden administration wants to continue to spend and increase taxes

Tax increases are deflationary.

 

[Saucy]

Tax increases are deflationary.

You're actually defending tax increases? Yes, let's add to the burden of families who are already struggling with inflation and high gas prices and can barely afford to pay their bills.

 

[Fantine]

Do you know many families earning $400,000 a year who are "struggling with inflation and high gas prices and can barely afford to pay their bills?"
I don't. So since Biden only plans on asking $400K earners to give back a percentage of the Trump giveaways of 2017, you are talking about a situation that doesn't exist.

You may be surprised to learn that the president who increased the national debt by the highest percentage was Ronald Reagan, who increased the federal deficit by 186%. (So much for what tax cuts do for the deficit.) Next was the next big tax cutter, George W. Bush--101%.

The deficit went up by 32% under Trump--in four years he accomplished to in four years what it took Bill Clinton eight to do...

US Debt by President: Dollar and Percentage

Depending on how you measure it, different presidents have added to the national debt. Check out how the national debt has increased by year and president.

www.thebalancemoney.com

And, of course, Biden has been more fiscally prudent than his predecessor.

It bears repeating:

You don't give tax cuts to the rich when you can't pay your bills.
You don't give tax cuts to the rich when you can't pay your bills.

Shame on every member of Congress who voted for the deficit expanding Trump tax cuts.

You're actually defending tax increases? Yes, let's add to the burden of families who are already struggling with inflation and high gas prices and can barely afford to pay their bills.

 

[iluvatar5150]

You're actually defending tax increases?

A plain reading of what I wrote would show you that I merely explained a phenomenon without taking a position on it.

Though, I would defend some tax hikes.

Yes, let's add to the burden of families who are already struggling with inflation and high gas prices and can barely afford to pay their bills.

Oh, which of Biden’s proposed tax hikes would do that? Here’s a list of them:

Biden’s FY 2024 Budget Would Result in More Than $4.5 Trillion in Gross Tax Increases

President Biden’s Fiscal Year 2024 Budget outlines several major tax increases that would bring U.S. tax rates far out of step with international norms. In total, they would add up to almost $4.7 trillion in new taxes targeted at businesses and high-income individuals.

taxfoundation.org

 

[disciple Clint]

Tax increases are deflationary.

not when they are accompanied by additional spending which is exactly what Biden is trying to do.

 

[FireDragon76]

not when they are accompanied by additional spending which is exactly what Biden is trying to do.

That doesn't make sense. The only way inflation would happen is if more money enters the money supply. If taxes cover increased spending, then there won't be inflation.

 

[iluvatar5150]

not when they are accompanied by additional spending which is exactly what Biden is trying to do.

Then it would be the spending that is inflationary.

 

[disciple Clint]

Then it would be the spending that is inflationary.

Yes that is exactly what has happened.

 

[disciple Clint]

That doesn't make sense. The only way inflation would happen is if more money enters the money supply. If taxes cover increased spending, then there won't be inflation.

Oh do you believe that it is a one to one ration?

 

[Fantine]

Many of the tax "increases" are merely reversals of tax reductions which never should have been granted in 2017, which gave us trillion dollar deficits without discernible benefit.

Stock buybacks artificially bolster stock prices rather than provide for R and D or fair wages for employees.

Cutting the child poverty rate in half is a good use of millionaire taxes. They don't like them? I'm reminded of Scrooge.

 

[iluvatar5150]

Many of the tax "increases" are merely reversals of tax reductions which never should have been granted in 2017, which gave us trillion dollar deficits without discernible benefit.

ngl, I would personally love it if the sunset/rollback of the 2017 law brought back the deduction for unreimbursed employee expenses. I'm still amazed that nobody has made a thing about that given how many people are working from home now.

 

[disciple Clint]

Many of the tax "increases" are merely reversals of tax reductions which never should have been granted in 2017, which gave us trillion dollar deficits without discernible benefit.

Stock buybacks artificially bolster stock prices rather than provide for R and D or fair wages for employees.

Cutting the child poverty rate in half is a good use of millionaire taxes. They don't like them? I'm reminded of Scrooge.

Have you forgotten that Trump gave us one of the best economies in history? AND Biden gave us the highest inflation in 40 years.

 

[GreatLakes4Ever]

Have you forgotten that Trump gave us one of the best economies in history? AND Biden gave us the highest inflation in 40 years.

I remember Trump throwing a hussy fit when he lost and his supporters doing a putsch to try to stop the peaceful transfer of power. That was a direct threat to our country. I value this country and the freedoms it provides more than gold and silver. Maybe some people are willing to live under a dictatorship for a little fatter wallet but I’m not.

 

[iluvatar5150]

Have you forgotten that Trump gave us one of the best economies in history? AND Biden gave us the highest inflation in 40 years.

I remember Trump maintaining a bunch of economic trends that been going on for years under Obama. Then covid and its ensuing economic fallout happened, under Trump, with a good chunk of the recovery happening under Biden.

Do you remember something different?

 

[Danthemailman]

Have you forgotten that Trump gave us one of the best economies in history? AND Biden gave us the highest inflation in 40 years.

The Biden administration and the angry mobs during the summer of 2020 are a much bigger threat to our country than that group of angry protesters on January 6. It just blows my mind how certain people are so quick to buy into the leftist narrative and fail to see the big picture. The economy was thriving under Trump and under Biden, we now have record high inflation, but certain people still don't care. Biden can lead America into another great depression and anti-American thugs can burn America to the ground yet these folks will still support Biden and give these criminals a free pass. So sad and pathetic! The Biden administration regime and the elitists who pull their strings are not done with America yet and I think we know what this is all leading up to. As Samuel L Jackson said in the movie Jurassic Park, "hold on to your butts!"

 

[GreatLakes4Ever]

The Biden administration and the angry mobs during the summer of 2020 are a much bigger threat to our country than that group of angry protesters on January 6. It just blows my mind how certain people are so quick to buy into the leftist narrative and fail to see the big picture. The economy was thriving under Trump and under Biden, we now have record high inflation, but certain people still don't care. Biden can lead America into another great depression and anti-American thugs can burn America to the ground yet these folks will still support Biden and give these criminals a free pass. So sad and pathetic! The Biden administration regime and the elitists who pull their strings are not done with America yet and I think we know what this is all leading up to. As Samuel L Jackson said in the movie Jurassic Park, "hold on to your butts!"

A putsch that isn’t appropriately punished is a dress rehearsal. The second and third in line for the presidency had to flee for their lives after the president fired up the crowd and then sat back and watched the putsch from his office. If we don’t send a strong punishment to everyone involved, a putsch will happen again, and again, until they are appropriately punished or succeed.

If you want to live in a nation where you are promised a strong economy and in turn the government is chosen for you, the Chinese Communist Party has a deal for you. Here in America, we value freedom even if it has a cost.

 

[Danthemailman]

A putsch that isn’t appropriately punished is a dress rehearsal. The second and third in line for the presidency had to flee for their lives after the president fired up the crowd and then sat back and watched the putsch from his office. If we don’t send a strong punishment to everyone involved, a putsch will happen again, and again, until they are appropriately punished or succeed.

If you want to live in a nation where you are promised a strong economy and in turn the government is chosen for you, the Chinese Communist Party has a deal for you. Here in America, we value freedom even if it has a cost.

The Biden administration is more in line with the Chinese Communist Party than the Republican Party, although the Republican Party does have some RINOS. If you want to live in a nation with high inflation, a high crime rate, increasing lawlessness, homelessness, sexual perversion and a wide open border (and you call that freedom?) then keep voting Democrat. This goes beyond logic, reason and common sense. This is a spiritual battle for the souls of men and the heart and soul of America.