Be Informed - Blog Posts
Everyone should know the international sign for Help Me. Let’s make this famous!!
https://www.bloomberg.com/graphics/2024-opinion-biden-harris-accomplishment-data/
"In the race between Vice President Kamala Harris and former President Donald Trump, the polls are tight and their policy plans are underwhelming. But there is another way to compare their ability to do the job that gets far too little attention: Both candidates have a record to run on — and the data tell their own story."
Even though it's past election day, it's still a good thing to inform people what has been happening. Even as I talked with some folks the day after, I realized pretty quickly that there's a lot of people who don't know what's going on in the country when it comes to the topics that people like to blow up about. Also, DO NOT FORGET that the president is the figurehead, it's all the people they employ that do all the work. If you voted at all, you were voting for a staff of people, not just one person.
I just want to highlight a few graphs.
Btwn year 2-3 of Trump, it was already increasing, that's right before COVID became a thing. Trump's approach to life is emboldening violence.
Again, Trump didn't do anything spectacular besides being on par with most other presidencies, until the administration truly failed. Biden's administration blew the past 3 presidents out of the water. And yet people are still crying over the economy.
Speaking of economy, the article highlights there were proposals to try to reign in price gouging. Some folks might be familiar with the concept of rent control and the like. It was disappointing that these things were not enabled. But for conservatives, it's something they don't want to hear because they don't want to let the government manage business but cry out why the government is not managing business.
I'm just going to copy/paste what the article has for this one:
Presidents love to take credit for a booming market and disavow a sagging one. The truth is they have little to do with either.
Still, some policies are better for asset prices than others, even if it’s difficult to quantify how much. Trump wants to extend the 2017 tax cuts and lower corporate taxes, which could boost spending and corporate earnings, pushing stocks higher. On the flipside, his proposed tariffs could hurt companies, particularly if US multinationals face retaliatory levies.
Harris wants to raise corporate taxes and steer that money to workers and families as tax credits and support for first-time homebuyers. Companies would presumably be worse off from higher taxes, although putting money in consumers’ pockets is generally good for business. The risk for fixed income is clearer: Both Harris and Trump’s proposals are likely to result in higher deficits and debt, which could stoke inflation and force the Fed to raise rates, giving bonds a whacking.
Most likely, though, what drives markets will have little to do with these plans.
The day after the election, of course I heard from the mouths that don't care that the stock was booming. That's because stocks are speculation and really just operate off perception. The people who are in dire need of funds don't have stocks. Those are the people who will get no benefit from increased stocks and yet they see it and think it's great when it only serves a few.
Don't forget, taxes fund the functioning of government. It's absolutely needed. Do you want taxes to come from you or from big corporations?
Honestly, no administration is perfect. But after this abysmal election, I'm not going to shut up about being informed of what's really going on. The truth of how this country is performing and making sure that people are asking the right questions. I already have some questions out of this report, such as what's going on at the state level? The federal level can only do so much. As an example, taxes at the state and city levels can help mitigate and perform better for their own community.
And if we work to better our own communities, maybe that can help funnel up.