Why is it libs are incapable of understanding basic economic concepts?

Question

In a recent question, I mentioned that "real employee compensation" has gone up. In other questions I've talked about "Real Income" going up. In every question, I define these Real gains as after inflation.

Yet in every one of these questions, I get idiotic responses from libs saying, yeah those may be up, but gas and health care are up even more. Or the dollar is worth less.

They just can't understand that those things are inflation. Inflation is not something else plus those things.

Gross Income Gain - Inflation = Real Income Gain

It's just that simple folks.

I'd appreciate any help on how to explain these things. Maybe if I can dumb it down to a 5 year old's level, the libs might be able to understand it.

Educator - I'm sorry, but you are incorrect. Please look at the link to the latest Consumer Price Index Summary http://www.bls.gov/news.release/cpi.nr0.htm

It clearly shows housing and energy counted.

You see! Scipro30 is exactly what I'm talking about. He seems to think oil is excluded from inflation. Oil is part of inflation. Yes, oil has gone up quite a bit, but is only a small part of your overall expenses. Other items, including food, clothing, housing, etc may have gone down or only risen slightly. It's only when you count them all do you get a true picture of inflation.

Answer 1

Whoa!! Educator...you are far off the mark there.
Core inflation is taking energy and food costs out of the equation, not income. Even still, the core is merely used as an indicator. The Fed looks at inflation and its impact on the whole front, in order to get the big picture.
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As for the question, I hear you. Sometimes you try and make the questions and answers real easy for the Libs to understand but in the end they just crawl into the fetal position, screaming "Michael Moore will show you!! You'll see!! You just wait!" Well, it'll be a cold day in hell before that bloated *** moron will show me anything of merit. Good question though. Definite star!

Answer 2

I suspect this is why many of Hillary's policies that are supposed to help the middle class are actually going to cause more tax dollars to come out of their pockets. As an honest answer though, I believe that high schools across America should require students to go through at least two economics courses as a requirement for graduation. I don't believe it is necessarily because people are dumb, but rather just ignorant to the basic concepts of economics. Rather than get mad and call them idiots, I think that people that are knowledgeable in these areas should try to educate them. Although I admittedly share you frustration at times as some people just aren't willing to learn.

Answer 3

Why is there always so much finger pointing? All I know is that our debt is currently at 70% of our GDP and according to the Congressional Budget Office it will be at 100% in less than a decade if we don't change anything. Honestly, who cares whose fault it is? We need to right the ship before we no longer have one and no elected official appears to be willing to roll up their sleeves and work it out so why not just get rid of the whole lot of them?

Answer 4

Gee when did Karnac get a spot on Yahoo answers. Bottom line, it costs more to get by today than yesterday and will cost more tomorrow. Sure some is inflation. But don't try and tell the average American that we have had an increase in some "real employee compensation". My salary increase did not offset my medical costs in 2007. We pay more for benefits than ever. I won't mention everything else. So go enjoy your Woody as you also enjoy your real employee compensation.

Answer 5

When did real income go up ? Was it the last two weeks that it went up a fraction of a percent ? I didn't notice. Because it's been down for quite a few years now. What you say is in fact NOT true. Real Income as decreased.
http://bigpicture.typepad.com/comments/2007/08/real-income-fai.html

Answer 6

Consider that since 1962, federal revenue from progressive taxes (in which higher income people pay a higher tax percentage than lower income) dropped by 17%. Federal income from regressive taxes (which place a higher burden on those with lower income) increased by 135%. Since 1980, taxes on inheritance and investment have dropped by 31% while taxes on income derived from work have increased by 25%. Between 2000 and 2003, corporations (the institutions that perpetuate and insulate the plutocracy) saw their contribution to federal revenue through taxes fall by 36%. Bush's corporate tax cuts of 2002 and 2003 made this corporate wet dream possible. His individual tax cuts between 2002 and 2004 were a propaganda ploy to buy votes and ensure that the financial oligarchy retained a strangle-hold on the US government. Average working Americans received rebate checks of $400.00. $600 billion dollars in tax cuts went to those earning more than $288,000 per year. To ice the cake, the wealthiest 1% of Americans received $197 billion dollars in additional tax breaks. That means that each of those lucky plutocrats enjoyed a staggering $56.3 million in tax relief, but don't worry. In theory, they put that money back into the economy and it will "trickle down" to the rest of us. I have not been trickled upon yet. Have you?

Answer 7

The same reason conservatives don't understand the basic ideas of not being a sociopath,

Answer 8

False. You insult an entire group base on the answers of a few people. I could easily assume all conservatives are morons based on a few answers, however, I am smart enough to not to make gross generalizations.

Not to mention your assertion seems to have been proved wrong by Count Acumen

Answer 9

You're speaking to a group of people who believe that the good economy of the nineties was a result of the Clinton magic wand.

Answer 10

Before you post something like that again, it would behoove you to post some links so people can understand what you're talking about, plus proof, and so we know you're not blowing smoke up peoples backside.

Therefore, LINK(S) PLEASE

It seems your link lacks data from the past -- try again.

Peace

Jim

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