Politics

[SaintPanzer]

It’s my understanding of your system that without the emergency act in place trump can only ratify for a set period of time before the house has to endorse It I believed 90 or 120 days.

That's not at all how it works. Not remotely.

And the "mid-terms" are simply an election for the next House as well as 33% if the senate. You can take a "shellacking" there, and two years after that, be re-elected as President (well, Trump cannot, but Obama certainly was).

It's a congress, not a parliament.

Even if the House flipped, and even if the Senate flipped, it would have to be a very large flip to overturn a veto. And I think I've already mentioned at least three laws that legislated away some (but not all) of Congress' tariff power.

The system is not that difficult to understand. It can be summarized in a small pamphlet. I mean, the entire document fits on an 18"X24" poster.

 

[Brent in Az]

Keep those nightlights lit, and check under the bed before you go to sleep. Bogeyman Trump might be lurking underneath......LOL.

 

[Wiley64]

I just assumed he was bluffing all along, maybe he still is…. Time will tell. Nobody know what happens next!

 

[deewayne2003]

Boomers crying and wailing about the Stock Market while Gen Z and the Millennials can't afford to go to the Super Market!!

We wouldn't be in this position economically if the Boomers hadn't kept kicking the can down the road!

Amen to that….

The same boomers who can’t understand why the 30 and under crowd is more conservative at this point than the 65+ crowd.

Average home price is $420K in 2024, if you adjusted for inflation from 1986 it should be $170K.

Yet boomers just can’t understand why young people who can’t afford houses and have zero investments because of housing, rent, stagnant wages & student loans debt are cheering this on.

The road that can was being kicked down just came to a dead end.

 

[YancyW]

Correct me if I’m wrong I’ve done the best I can to educate myself on the American political system but I’m far from a scholar on it. To my understanding if the dems control the house or a bipartisan vote was passed they could easily end the use of the emergencies act which brings the final implementation of tariffs ect. back under control of the house and the house not trump would ultimately decide on their implementation.

I think the Emergency Eco Powers Act requires a joint resolution to terminate the Economic Emergency declaration by the President. That would be require it passing both chambers. But if that were to happen, I would guess the President would use Trade Expansion regs to keep them in place, that would just require Secretary of Commerce to recommend them as a matter of national security.

 

[Red Leg]

Amen to that….

The same boomers who can’t understand why the 30 and under crowd is more conservative at this point than the 65+ crowd.

Average home price is $420K in 2024, if you adjusted for inflation from 1986 it should be $170K.

Yet boomers just can’t understand why young people who can’t afford houses and have zero investments because of housing, rent, stagnant wages & student loans debt are cheering this on….

The road that can was being kicked down just came to a dead end.

That is certainly a good excuse.

Both my kids are doing just fine. I would urge you to actually watch the Ben Shapiro video posted a few pages back. I am not sure where he found his charts, but they mirror Investopedia quoting Pew Research. In 1971 the lower income percent was 27%, middle income was 61%, and upper income was 11% in this country. As of 2024, lower income has increased to 30% (not a good thing, but driven in large part by burgeoning poor immigration), middle income has decreased to 51%, and upper income has increased to 19%. The wealthiest segment of the population are ages 45-64. Which generation is that? Hint - it isn't Boomers.

Over the last fifty years, the real gaining demographic was the top end economic wedge of the workforce. And yes that runs counter to the assumptions pushed by both left and right.

 

[Brent in Az]

Some of the talking heads are speculating, that AOC, the radical socialist, will overtake Chuck Schumer as the head of the democrat party, and possibly run for president at some point.

God help us.

 

[Tubby’s Canteen]

I think the Emergency Eco Powers Act requires a joint resolution to terminate the Economic Emergency declaration by the President. That would be require it passing both chambers. But if that were to happen, I would guess the President would use Trade Expansion regs to keep them in place, that would just require Secretary of Commerce to recommend them as a matter of national security.

According to the article i was reading it would only take a majority to pass https://abcnews.go.com/amp/Politics...ors-canadian-tariffs-place/story?id=120377866

 

[deewayne2003]

That is certainly a good excuse.

Both my kids are doing just fine. I would urge you to actually watch the Ben Shapiro video posted a few pages back. I am not sure where he found his charts, but they mirror Investopedia quoting Pew Research. In 1971 the lower income percent was 27%, middle income was 61%, and upper income was 11% in this country. As of 2024, lower income has increased to 30%, middle income has decreased to 51%, and upper income has increased to 19%.

Per your own posts they seem to be well educated and hard working, definitely good traits; however they also had the advantage of a two parent house hold and having a father with a commissioned officers income.

Per your own figures the middle class is shrinking, poor and rich growing… the economic strength of this nation has been and should be in the middle class, but that’s shrinking.

Here’s a Cambridge study that shows what we all know….. the better off you’re born the better off you tend to end up and how that divide has grown.

Boom and bust? Millennials aren’t all worse off than Baby Boomers, but the rich-poor gap is widening

A study of over 12,000 people in the US, comparing Baby Boomers and Millennials, raises concerns about Millennials’ diverging financial gains.

www.cam.ac.uk

In short it’s easier than ever to hit a home run if you’re born on third base.

You should be proud of the advantages you gave your kids, but don’t look down your nose at those who largely didn’t have the same advantages.

The 65+ crowd is 40% wealthier than the same age bracket was in 1994 making it the wealthiest generation in history…..

Pardon me if I don’t shed a tear for those crying in their Merlot over a 4% market drop; after all those social security checks are coming from the taxes of the same millennial & Z people boomers have such disdain for.

The same generations that are trading in their Che Guevara shirts for MAGA hats.

 

[OxfordTheCat]

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Interesting and brief perspective from the 44th President...

 

[Doubleplay]

Amen to that….

The same boomers who can’t understand why the 30 and under crowd is more conservative at this point than the 65+ crowd.

Average home price is $420K in 2024, if you adjusted for inflation from 1986 it should be $170K.

Yet boomers just can’t understand why young people who can’t afford houses and have zero investments because of housing, rent, stagnant wages & student loans debt are cheering this on.

The road that can was being kicked down just came to a dead end.

What can?
This country had a balanced budget during Clinton years.
The biggest reason for our deficit is cutting taxes for the highest income levels and trying to create a top down economic incentive model which didn’t work as you can clearly see from the stats @Redleg wrote.
This dumb approach will not work either and will actually add a lot more to the deficit by creating a recession.
Tariffs will tax everyone but they’ll cause a greater pain to the young people you mentioned because if they can’t afford houses now wait what happens with lumber from Canada and steel from wherever increases by %20-30.

 

[YancyW]

According to the article i was reading it would only take a majority to pass https://abcnews.go.com/amp/Politics...ors-canadian-tariffs-place/story?id=120377866

Yes, a JR only requires a majority to pass? But it still has to pass both chambers.

 

[deewayne2003]

What can?
This country had a balanced budget during Clinton years.
The biggest reason for our deficit is cutting taxes for the highest income levels and trying to create a top down economic incentive model which didn’t work as you can clearly see from the stats @Redleg wrote.
This dumb approach will not work either and will actually add a lot more to the deficit by creating a recession.
Tariffs will tax everyone but they’ll cause a greater pain to the young people you mentioned because if they can’t afford houses now wait what happens with lumber from Canada and steel from wherever increases by %20-30.

The balanced budget during the Clinton years…. Ok let’s do this.

You mean when they changed the definition of unemployment?

Or when they started allowing un documented loans and allowing food stamps to be used as a source of income for documented loans?… after all the vast majority of the failed subprime loans had an origin date during Clinton.

I remember when Clinton was in office and I was working construction in highschool, all the contractors including my Democrat father were talking non stop about….

“ can’t complain about D’conomy, bitness is great!”

Meanwhile we’re working on $200k houses with people sitting on lawn chairs in their living room because they couldn’t afford furniture and the #1 question when handing the home owners the bill for the final exterior trim work….

“Do you take credit cards?”

2002 I’m a freshman in college and my personal finance professor starts off with a fire and brimstone speech about how people will be loosing their homes left and right when this mortgage thing goes south…. People in the business school are calling me an idiot for selling off my stock while it’s making 30% annual but this roller coaster is going to derail sooner rather than later.

Thank you professor Tomlin - you changed my life for the better in so many ways.

As for your lumber and steel prices…. Do you not remember just 4 years ago?

I remember one builder having to hit a client with a $130K change order because of lumber costs on a 5,000sqft house.

The only thing I’m finding perplexing is why Silver is going down while gold is up….. but again I’m not worried all that much because I’m not planning on selling off anytime soon and I’m still up an average of 35% on it.

Bottom line, I’ll never change your mind or opinion that you are certainly entitled to, but yes….

Hell yes I voted for this shit and it’s better that I expected!

The stock I did own I liquidated 3 weeks ago and I’m waiting to rebuy.

Here’s a guy that can explain it to you, he’s not as polished as Shapiro but he still makes millions per year sharing his views.

 

[Jeff505]

If one puts their hopes and dreams into elections and political parties then this is indeed a scary time and always has been. I voted for Trump but do not agree with many things that are taking place. I believe less government is better, that government control of most areas of life is wrong. The stock market recently has not been kind to my investments, but to jump to the conclusion that Marxism would now be beneficial is a step in the wrong direction. We will all see if Trumps policies benefit America or not. It is understandable if non Americans see this in a different light. We will not all agree and in fact might have polarized views, but as free thinking individuals can there be honest debate rather then name calling. As I stated before I voted for Trump, does that make me Trumpist or a Maga” whatever ever” your pronoun. Debate ideas and do not paint with a broad brush those with contrary views. I will be in Namibia in 2 weeks with my good friend and hunting companion @Doug3006, of this I think we can all agree, life is short … enjoy the time we have here.

 

[Tanks]

Pardon me if I don’t shed a tear for those crying in their Merlot over a 4% market drop; after all those social security checks are coming from the taxes of the same millennial & Z people boomers have such disdain for.

Just a point of fact, the boomers also paid SS taxes when they were working. I'll start collecting mine in a couple of years when I turn 70. Should pay for an elephant hunt each year I am able to go.

As far as the 4% drop is concerned I am fine with it as long as the tax package passes. Kamala was going to tax capital gains as ordinary income (38% or so) instead of 20% plus whatever Obama care surcharge is (percentage escapes me) and let the tax cuts lapse. So, I figure I am ahead. Not to mention if it becomes a true bear market there will be opportunities.

 

[Altitude sickness]

What can?
This country had a balanced budget during Clinton years.
The biggest reason for our deficit is cutting taxes for the highest income levels and trying to create a top down economic incentive model which didn’t work as you can clearly see from the stats @Redleg wrote.
This dumb approach will not work either and will actually add a lot more to the deficit by creating a recession.
Tariffs will tax everyone but they’ll cause a greater pain to the young people you mentioned because if they can’t afford houses now wait what happens with lumber from Canada and steel from wherever increases by %20-30.

“Cutting taxes for the highest income levels”.

Please remember the government creates zero revenue. The top percentage tax payers pay by far most of the taxes. Approximately 70%. And that is income tax. If you factor in Capital Gains, estate taxes. They more than pay “their fair share”.

You could take ALL assets from the top taxpayers and it still will not fund the spending.

Do you personally expect to gain gross revenue every year to be able to increase your personal spending every year for 100 years. No you would cut spending.

So blaming the top tax payers being “allowed” by the government to keep some of their money. Is backwards and this “pay their fair share” mantra comes from where? The people taking your money.


Also, Clinton and Barney Frank caused the housing collapse of 2008. Forcing banks to give mortgages to people that could never pay it back.

The lenders bundled those loser loans into junk stock to get rid of it and they were blamed for being greedy by the same politicians that actually caused the mess, because they the lenders wanted to stay in business and make money.

Dead horse beating info below.

How Do We Tax the Top 1% — And What That Means for the Federal Budget

The top 1 percent pay a significant share of all federal taxes, while also benefitting disproportionately from preferential tax treatment.

www.pgpf.org

 

[Wiley64]

I truly believe the tariffs are going to work, and maybe we will see real economic growth instead of just inflating our way to status quo 2% at a time like we have my entire adult life. Shapiro’s arguments are not compelling.

 

[375 Ruger Fan]

I should have posted this yesterday, forgive me for being a day late.........the US has come a long way (thankfully)

One hundred sixty years ago, on 4 April 1865, President Abraham Lincoln and his young son Tad, guarded by a detachment of 12 sailors armed with carbines and bayonets and commanded by Rear Admiral David Dixon Porter, walked through the city of Richmond. Less than 48 hours earlier, Confederate President Jefferson Davis, along with his cabinet and military forces, had fled, abandoning and setting fire to the capital city.

https://www.usni.org/magazines/naval-history/2025/april/abraham-lincolns-forgotten-walk-through-richmond

 

[gbflyer]

It’s fun to read the beginning of this thread. The dumpster fire it’s become all started with tariffs.

 

[Red Leg]

Per your own posts they seem to be well educated and hard working, definitely good traits; however they also had the advantage of a two parent house hold and having a father with a commissioned officers income.

Per your own figures the middle class is shrinking, poor and rich growing… the economic strength of this nation has been and should be in the middle class, but that’s shrinking.

Here’s a Cambridge study that shows what we all know….. the better off you’re born the better off you tend to end up and how that divide has grown.

Boom and bust? Millennials aren’t all worse off than Baby Boomers, but the rich-poor gap is widening

A study of over 12,000 people in the US, comparing Baby Boomers and Millennials, raises concerns about Millennials’ diverging financial gains.

www.cam.ac.uk

In short it’s easier than ever to hit a home run if you’re born on third base.

You should be proud of the advantages you gave your kids, but don’t look down your nose at those who largely didn’t have the same advantages.

The 65+ crowd is 40% wealthier than the same age bracket was in 1994 making it the wealthiest generation in history…..

Pardon me if I don’t shed a tear for those crying in their Merlot over a 4% market drop; after all those social security checks are coming from the taxes of the same millennial & Z people boomers have such disdain for.

The same generations that are trading in their Che Guevara shirts for MAGA hats.

You and I drawing two very different conclusions from the same data. These are percentages of total population. Yes the lower class grew by 3%, but as I noted a large portion of that growth was because of the immigration of third world poor. The middle class did shrink by 10%, but that is almost totally because the upper income group now contains 19% (17-20 i most surveys) of the population rather than 11%. Most of the shrinkage of the middle class is due to the middle class moving into the upper class.

Secondly. Your beef is with every oldest generation in our society since the founding. The oldest always holds the largest percentage of the nation's wealth. I frankly think this falls under the "duh" category learning. Those members of the population who have had the longest time to accumulate wealth, will generally have more of it. I assume in another ten years you will be complaining about Gen X. Then it will be your turn.