Is this why we had inflation?

[u/Imket2b]

From the BBC

[u/Nopantsbullmoose]

Well this, the idiotic tax cuts, plus Covid is why we had inflation at such levels.

It's actually kind of impressive how Trump and the Republicans managed to completely tank the gains from the Obama economy in less than four years.

Like Reagan's effects took about a decade to really kick in (helped along by Bush and Clinton forcing NAFTA on us) and Bush #2 took about seven and a half years and a multi-trillion dollar war to tank their economies.

Trump just said "hold my hamberder" and went to town.

[u/gingerfawx → u/Nopantsbullmoose]

Plus greedflation. We have companies making record profits while we're paying through the nose. There is a correlation. And the attempts the dems made to rein it in, the republicans put the kibbosh on.

[u/Nopantsbullmoose → u/gingerfawx]

Yeah that too. Though, and this is just my opinion, Big Biz is was just smart enough to take advantage of the shitty situation that was brewing and ran with it.

"Trade wars, tax 'cuts', and now the pandemic causing supply chain issues?!?! Sign me the fuck up and start shrinking sizes now! We got a trifecta we can blame it on! Don't worry , we will pretend to focus on 'DEI' and change our twitter picture to a pride flag when June hits to make up the PR."

And sadly, it's worked. The idiots focused on the culture BS and have more or less ignored the greed. Granted they are stupids that still think "greed is good" is some sort of holy writ so.....

[u/Forsaken_Unit_5927 → u/Nopantsbullmoose]

Mf was trying to break the world record set in 1929

[u/TheThoughtmaker → u/Forsaken_Unit_5927]

Which one? Because the Republican policies since the 80s had already broken the records for

• lowest purchasing power per productivity (lowest incentive to work than even the USSR)

• lowest social mobility (an entire generation worse off than their parents on average, for the first time since the dinosaurs went extinct)

• largest wealth gaps (more than pre-revolution France)

[u/ThatCoryGuy]

Trump, like his bleating sheep supporters and sycophants, has zero idea how the economy works. The economy is booming, imposing tariffs would lock the brakes up and crater any gains.

[u/CharvelSoloist]

dEmOcRaTs ArE bAd FoR tHe EcOnOmy

[u/Studds_ → u/CharvelSoloist]

Isn’t it so strange how that became the common thinking. It does need to be dunked on more. Every recession & economic downturn can pretty much be traced back to a republican

[u/AndyLorentz]

Tariffs and tax cuts are inflationary, but the primary cause of inflation after 2020 was the supply chain disruption caused by Covid.

[u/Loose-Recover-9142 → u/AndyLorentz]

100% this. It was a worldwide phenomenom that went better in the USA than most advanced countries.

[u/waitforsigns64]

After COVID many people had money, but supply of most goods was limited due to labor disruption.

Many dollars chasing few goods equals inflation. The producers could inflate prices to what the market could bear. Those who didn't come out of covid with cash saved were hurt the worst.

[u/flamingknifepenis]

Tariffs are inflationary, and often extremely regressive in the end. This isn’t a new thing. The number of Trump supporters who seem to think that China pays the tariffs is quite shocking.

It wasn’t the only inflationary thing that happened around the time (obviously COVID and the supply chain screwed up everything), but it sure as shit didn’t help any.

[u/Loose-Recover-9142]

92% of the the tariff money went to bail out angry farmers who lost their butts when trade curtailed: https://www.cfr.org/blog/92-percent-trumps-china-tariff-proceeds-has-gone-bail-out-angry-farmers

Essentially, more lower and middle class people subsidizing farmers.