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08-04-2022, 11:57 PM
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#1
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Registered User
Join Date: May 2011
Posts: 22,649
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inflation reduction act to double size of IRS
and IRS is becoming militarized with over a million rounds of ammunition.
but no new taxes if you make less than $400K
the Biden economy has increased personal credit card debt by 13% in last year and most people need to work an extra month to get what they had 2 years ago.
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08-05-2022, 01:05 AM
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#2
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Registered User
Join Date: Oct 2007
Location: North Riverside, Il.
Posts: 16,104
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Quote:
Originally Posted by davew
and IRS is becoming militarized with over a million rounds of ammunition.
Matt Gaetz has proposed a law prohibiting the IRS from having more than five million rounds of ammunition. Matt Gaetz is an idiot. Correction. If Matt Gaetz improved his intelligence 1000% he still would not reach the level of idiot. Five million rounds gives each IRS enforcement agent four bullets a day.
but no new taxes if you make less than $400K
Correct. There are no new taxes if you make less than 400k a year.
the Biden economy has increased personal credit card debt by 13% in last year and most people need to work an extra month to get what they had 2 years ago.
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https://www.lendingtree.com/credit-c...bt-statistics/
Credit card balances are up only because they were so low during Covid. They are down about 60-70B from 2019.
The important statistic is delinquencies.
From the Lending Tree link.
According to the most recent delinquency data from the Fed, the 30-day delinquency rate (or the number of folks who are currently at least 30 days late with their credit card payment) rose from 1.63% to 1.73% in the first quarter of 2022.
That’s the third straight quarter of increases. However, delinquency rates are still near historic lows, staying below 2% for the fifth consecutive quarter. Before this streak, rates had never dropped below 2% since tracking began in 1991.
It’s a huge difference from what we saw during the Great Recession, during which delinquencies peaked at nearly 7% in 2009.
Credit card debt only matters if you can’t make your payments.
__________________
"When you come at the King, You'd best not miss." Omar Little
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08-05-2022, 10:15 AM
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#3
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Registered User
Join Date: May 2018
Location: Huntington Beach, Ca
Posts: 554
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Quote:
Originally Posted by mostpost
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The leading cause of delinquencies is high credit card debt, the precursor.
This is another in a very long line of shortsighted posts.
Last edited by Cuffdaddy; 08-05-2022 at 10:16 AM.
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08-05-2022, 10:26 AM
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#4
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Registered User
Join Date: Jan 2015
Location: Beaverdam Virginia
Posts: 12,700
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Quote:
Originally Posted by Cuffdaddy
The leading cause of delinquencies is high credit card debt, the precursor.
This is another in a very long line of shortsighted posts.
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Shortsighted, you are too kind. The guy would have to have an I.Q. of room temperature to think the statistics he posts would convince anyone with a brain to buy the crap he sells to put a positive spin on the state of this country under the Biden administration.
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08-05-2022, 02:27 PM
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#5
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,912
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Quote:
Originally Posted by Inner Dirt
Shortsighted, you are too kind. The guy would have to have an I.Q. of room temperature to think the statistics he posts would convince anyone with a brain to buy the crap he sells to put a positive spin on the state of this country under the Biden administration.
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He was on my Twit List for a long time, but people were quoting him and I saw how much humor I was missing out on.
FOMO is real.
LOL
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08-05-2022, 03:23 PM
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#6
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Registered User
Join Date: Jan 2015
Location: Beaverdam Virginia
Posts: 12,700
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All I saw is that the inflation reduction act was spending a bunch of money on green energy things and throwing more money at Obamacare, how that reduces inflation is beyond me.
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08-05-2022, 03:57 PM
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#7
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Registered User
Join Date: May 2011
Posts: 22,649
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Quote:
Originally Posted by Inner Dirt
All I saw is that the inflation reduction act was spending a bunch of money on green energy things and throwing more money at Obamacare, how that reduces inflation is beyond me.
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because all the spending comes in the first 3 years (unless programs extended) while the income generation comes over 10 years .....
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08-05-2022, 07:39 PM
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#8
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Registered User
Join Date: Oct 2001
Posts: 46,883
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Quote:
Originally Posted by Inner Dirt
All I saw is that the inflation reduction act was spending a bunch of money on green energy things and throwing more money at Obamacare, how that reduces inflation is beyond me.
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But it does wonders for empty-headed talking points. The kind of stuff the Mosties of this world get ecstatic over.
__________________
Consistent profits can only be made on the basis of analysis that is far from obvious to the majority. - anonymous guru
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08-05-2022, 07:55 PM
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#9
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Registered User
Join Date: Aug 2017
Location: Near Lexington, KY
Posts: 3,246
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Quote:
Originally Posted by boxcar
But it does wonders for empty-headed talking points. The kind of stuff the Mosties of this world get ecstatic over.
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Exactly, boxcar. Just do Shit that you can talk about and Virtue-Signal. It doesn't matter that it doesn't actually help anybody. In fact...it is designed this way.
__________________
Just when you least expect it...just what you least expect-The Pet Shop Boys.
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08-05-2022, 08:19 PM
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#10
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Registered User
Join Date: Mar 2017
Location: Baystater
Posts: 3,494
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Expanding government to pay for harm reduction crack pipes. An audit in every pot, says Joe.
Lets go Brandon!!!
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08-05-2022, 08:26 PM
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#11
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Registered User
Join Date: Aug 2017
Location: Near Lexington, KY
Posts: 3,246
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Quote:
Originally Posted by jimmyb
Expanding government to pay for harm reduction crack pipes. An audit in every pot, says Joe.
Lets go Brandon!!!
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__________________
Just when you least expect it...just what you least expect-The Pet Shop Boys.
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08-07-2022, 10:20 AM
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#12
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Registered User
Join Date: May 2011
Posts: 22,649
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It looks like it will raise taxes for petroleum companies as well. That will surely lower gasoline prices as they will admit defeat and sell at a loss until bankruptcy under the watchful eye of the demoncrats.
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08-07-2022, 10:27 AM
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#13
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,869
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Al Qeda has done more good than the democrats.
__________________
Who does the Racing Form Detective like in this one?
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08-07-2022, 11:49 AM
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#14
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Registered User
Join Date: Aug 2009
Posts: 6,373
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I wonder what Chucky and crew offered Manchin to stab the US in the back..
Maybe he'll get to aquire one of those Russian Mega Yachats that we seized... you know for long term inspection and fact finding use.
Has to be really personally beneficial to him as his part time Senate day job is over... as he'll will no doubt retire instead of being fired by WV voters.
What do you think he got...? Or what do they have on him...?
__________________
Remember To Help Old Friends Thoroughbred Retirement Center.
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08-07-2022, 01:58 PM
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#15
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Registered User
Join Date: Jan 2015
Location: Beaverdam Virginia
Posts: 12,700
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Quote:
Originally Posted by davew
It looks like it will raise taxes for petroleum companies as well. That will surely lower gasoline prices as they will admit defeat and sell at a loss until bankruptcy under the watchful eye of the demoncrats.
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Remember when Psaki said the White House feels passing on tax increase to consumers is an improper business practice.
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