Search Results: inflation

I mean, with everything about inflation, war, and being locked inside for two years, does any of this even compare to the disparity of the 1970s?

Trump was also mostly wrong when he said Biden “wants the Trump tax cuts to expire.” Biden said he would extend them for anyone making under $400,000 a year.
Biden repeated his misleading claim that billionaires pay an average federal tax rate of 8%. That White House calculation factors in earnings on unsold stock as income.
Trump repeated his false claim that “everybody,” including all legal scholars, wanted to end Roe v. Wade’s constitutional right to abortion.
Trump falsely claimed that “the only jobs” Biden “created are for illegal immigrants and bounced back jobs that bounced back from the COVID.” Total nonfarm employment is higher than it was before the pandemic, as is the employment level of native-born workers.
Biden claimed that Trump oversaw the “largest deficit of any president,” while Trump countered that “we now have the largest deficit” under Biden.. scientists agree that climate action is still possible after passing the threshold.
Trump said immigrants crossing the border illegally were living in “luxury hotels.” New York City has provided hotel and motel rooms to migrant families, but there is no evidence that they are being placed in “luxury” hotels.
While talking deficit, Trump claimed "he largest deficit with China.” In 2023, the trade deficit in goods and services with China was the lowest it has been since 2009.
Trump wrongly claimed that prior to the pandemic, he had created “the greatest economy in the history of our country.” That’s far from true using economists’ preferred measure — growth in gross domestic product.
As he has many times before, Trump wrongly claimed, “I gave you the largest tax cut in history.” That’s not true either as a percentage of gross domestic product or in inflation-adjusted dollars.
Trump contrasted his administration with Biden’s by misleadingly noting that when he left office, the U. S. was “energy independent.” The U. S. continues to export more energy than it imports.

From my point of view, it sounds good on paper, but the main problem is that it allows any ignorant individual or individuals who are willfully stupid to vote and have their votes matter just as much as those with real world adulting experience and enough brain cells to understand the consequences involving higher taxes or inflation.