You have said this before. I say prove that I have said this. I'm the one saying we aren't headed into a recession or depression and the numbers don't support those who say the US economy is headed that way and calling for premature rate cuts. Just because the numbers should be better is your issue to deal with. You get what you vote for. Win again in November and it could be irreversibly damaging to the US economy, the American people, and the world economy.
What can't be denied is that we have a slowing economy and one Presidential candidate (Harris) wants to raise taxes and another wants to cut them (Trump).
The inflation we have now which is too much, and the risk that lowering rates will spur inflationary growth again before the soft landing has been achieved. As stated on page 1, none of the indexes to date have signaled the need for rate cuts yet. The trend line should be demonstrated that the inflation is in a pattern to fall to and below the Feds 2.0% target. This will not happen with a September rate cut.
Yep.. after announcing 818,000 less than reported over the past year (which didn't include June or July 2024). We're told what they want us to hear and then they sweep it under the rug later when less people are paying attention.
"If we can focus on the big picture and not necessarily what some guy in his basement is saying in rural central Florida on social media, then we got a chance for a soft landing" Sincerely, Jerome Powell
Trump is proposing a 10% tariff. You realize that a tariff is a type of tax, which raises the taxes on everybody who uses products, right? So why do you think he is planning to cut taxes?
Yeah, this is not the report you want to hear if you're Harris heading into a debate with Trump in 4 days and it's not just a one month anomaly. Clearly job growth is sputtering. Trump will also point out she could initiate her economic proposals right now as VP. Biden is a lame duck and few people believe he's really in charge anyway.
Apparently you are unaware of Trump's proposal to raise tariffs on all imported goods a tax increase that would affect virtually every household in the US and would have a much greater impact on a slowing economy than a would tax the wealthiest taxpayers who spend a very small percentage of their income on consumer goods.
Perhaps we should compare jobs gained per month averages under Trump and Biden. Let me know when you work those out.
Under the current law, Americans owe capital-gains taxes when an asset is sold, but not if they pass those assets on to someone else at the time of their death. That means someone who inherits assets from a deceased parent, for example, does not have to pay taxes on how much those assets appreciated since they were purchased. Instead, the person who inherits the assets has to pay taxes on the gains only from the time they were inherited — and only once they are sold. Ms. Harris has endorsed a plan to tax the gains on those assets at the original owner’s death, though several exemptions would apply, including when a surviving spouse inherits the assets. Ms. Harris would set the top marginal income rate at 39.6 percent, up from 37 percent. On top of that, she would also increase the rate on two parallel Medicare surtaxes to 5 percent from 3.8 percent for Americans making more than $400,000 and expand the income subject to one of them. Together, the Medicare and income proposals would create a top marginal rate as high as 44.6 percent. What We Know About Kamala Harris’s $5 Trillion Tax Plan So Far - The New York Times (nytimes.com)
The Urban Institute-Brookings Institution Tax Policy Center, a Washington D.C.-based think tank, projected that the 10% and 60% tariffs would collectively lower average after-tax incomes of U.S. households by about $1,800. That’s 55% less than what Harris said.
You know lower after-tax income means paying an additional $1,800 in taxes. Or $150/month more in taxes.
So some are trying to make a rukus over 140k plus new jobs? I have been told a recession has already started but we don’t know it yet. I hate to break it to people but going forward, long term, 100k-200k per month is probably steady state due to demographics and aging population and work force.
And the average family will save thousands when Trump extends his tax cuts while Harris and the Dems lets them expire. Further, we will start buying products from countries that don't manipulate their currency and try to destroy us like China.
I actually agree with this for the most part, but that is not why we went from banging out 250,000+ jobs per month to what we've seen the past 3 months. (on edit: wait I guess we weren't really banging out 250,000+ jobs per month after all with the sharp revisions)
That is a lot more than the average household income would be affected by a change in high-end capital gains taxes.
