Biden's Tax Plan

[leftyjace]

Whether you follow neoclassical theory or keynesian, one thing is clear for both: you don't pursue pro cyclical policies in the boom phase of the economic cycle, as the economy either self regulates or overheats, respectively. In that sense, there was no need to drastically reduce corporate taxes and regulations in an already booming economy. Unless of course, you wanted short term gains and win an election...

Or needed to pander to your “big money” friends that you promised big benefits if you got elected.

 

[Miggs]

I love how people rationalize their racist beliefs. Trump is literally the biggest POS I can think of, Rome is burning, and many of you here will vote for him anyway “because of Biden’s tax plan.” It’s ****ing laughable. Whatever you need to tell yourself so you can sleep at night I guess. Even if the Empire is crumbling.

 

[latin jazz]

Or needed to pander to your “big money” friends that you promised big benefits if you got elected.

Yeah. I forgot to include "political & economic" gain. And I would add not only his friends and campaign donors but himself.

 

[idestroyedthetoilet]

Whether you follow neoclassical theory or keynesian, one thing is clear for both: you don't pursue pro cyclical policies in the boom phase of the economic cycle, as the economy either self regulates or overheats, respectively. In that sense, there was no need to drastically reduce corporate taxes and regulations in an already booming economy. Unless of course, you wanted short term gains and win an election...

Most of this is a given, and beside the point. The economy didnt overheat. It wasnt a rational concern.

 

[idestroyedthetoilet]

People keep clinging to far outdated economic thought. This isn't your grandfather's economy, and as we've seen for the last two decades of economic rules being broken, the old addages no longer apply. We have massive disinflationary forces, GDP growth is anemic as is population growth, productivity gains stopped showing up in wage growth for over 30 years now, we have a savings glut, oil currently doesn't hold a stranglehold over the world, hasn't for quite some time, and might not again for 50 years... "Full employment" (now apparently another outdated concept) no longer forces wages up...

Throw the old playbook out, Jerry. Flex doesn't work anymore.