Ahh, heck. I'll jump into the mix. Jim-Good to see you around.
Now the gloves come off....
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Yes I understand that every time a new president comes into office our economy goes down but if you look back when did the economy bounce right back? When a democrat was in office.
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The economy bounced back for a couple of reasons, none of which had to do with Clinton and his 'bridge'. The driving force behind our economy is Alan Greenspan. Sure, the head of the Federal Reserve board determines the prime rate and acceptable collateral for banks, but its more than that. The mood he is in can swing the stock market.
Remember the depression of 87? Oh wait, there wasn't one. Remember how the Dow dropped 500 points two days in a row? During that fall, it fell off by a bigger % than what caused the
great depression. Why do people not really remember it? Greenspan to the rescue. The way he handled that period of time saved the country from panic.
He has done the same thing in the past year, not to mention the crashing of internet stocks. Sure, the market is down, but its still up 100% from 10 years ago. Long term investors are less rich than they were, but they are still up. I haven't seen anyone jumping out of windows recently on Wall Street. Have you?
The point of all this is to ask the question, "Who appoint Alan?" Yep, our actor President, Ronald Reagan.
Next..
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Funny, i dont remember when my paycheck went up do to a tax cut!
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Then somebody isn't paying attention. The tax reform act that Bush signed to restructure the federal income tax scale reduced part of the 15% bracket to 10%. Your net savings as a single man was $300 the first year. It is difficult to notice, as you State Disability limits, State tax, or pay rate may have changed. If you don't believe me, consult a local tax professional (better yet CPA) or your company's payroll service.
Moving on...
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is thier such a thing as deflation?
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Yes. Deflation is a condition where the dollar increases in worth. Consider what you could buy with $20 five years ago v. today. It's less, right. Inflation. Deflation is simply a condition where you could buy more today with your $20. It may only exist in theory, but you don't want deflation. It would occur in real life after a period of severe economic contraction (depression) when the money runs out from the top down. Not just missing a raise but everyone loosing their jobs. When there is no money to put into the economy, the money that is there will be worth more.
Ok I'm done now.
Something to think about. The most prejudiced members of our history were Democrats. Don't believe me? Up until very recently no self-respect southern man would be a member of the "Pro-Lincoln" Party. Lincoln was a Republican.