The Biden Presidency

Amir

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I'm not sure why this thread even exists as there are plenty of Trumpists who still believe that by Wednesday the army will take over and Biden will never be sworn in.

It's a world full of idiots.
 

berbatrick

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https://nymag.com/intelligencer/2021/01/what-is-in-biden-covid-relief-stimulus-list.html
The Good, the Bad, and the Odd in Biden’s Stimulus Plan

Section on the EITC is good, was lifted from here.
It doesn't seem the best designed!

...

@MTF
One of the few things I internalised and accepted from my compulsory Econ 101 is min wage increases = bad job killer. 10 years since I took the course there are literally tons of carefully obtained data within the US showing next to no effect on jobs.


So my first point is that it seems the field is shifting a bit (perhaps, a funeral at a time, like all fields). And certainly I know there are economists who have weird views on national ebt and deficit spending, and the years since 2008 haven't been bad for their predictions.

Secondly, that the awfulness of minimum wages remains ever-present in the textbooks and among many economists, including this charmer; she was last in the news for telling EMTs that drug addicts should be left to die since saving them is a moral hazard generating more addicts. What I'm trying to say is that econ departments do need "pointless morality tests".

 
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https://nymag.com/intelligencer/2021/01/what-is-in-biden-covid-relief-stimulus-list.html
The Good, the Bad, and the Odd in Biden’s Stimulus Plan

Section on the EITC is good, was lifted from here.
It doesn't seem the best designed!

...

@MTF
One of the few things I internalised and accepted from my compulsory Econ 101 is min wage increases = bad job killer. 10 years since I took the course there are literally tons of carefully obtained data within the US showing next to no effect on jobs.


So my first point is that it seems the field is shifting a bit (perhaps, a funeral at a time, like all fields). And certainly I know there are economists who have weird views on national ebt and deficit spending, and the years since 2008 haven't been bad for their predictions.

Secondly, that the awfulness of minimum wages remains ever-present in the textbooks and among many economists, including this charmer; she was last in the news for telling EMTs that drug addicts should be left to die since saving them is a moral hazard generating more addicts. What I'm trying to say is that econ departments do need "pointless morality tests".

Capitalists wheel out the same arguments any time someone tries to do something good for workers. It was literally the same when child labour was being banned. Think the world did alright after that.
 

WPMUFC

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Capitalists wheel out the same arguments any time someone tries to do something good for workers. It was literally the same when child labour was being banned. Think the world did alright after that.
and it works. As people have posted on these forums and elsewhere, tweets from "amazon workers" and "teachers" pointing out "low skilled workers" would make "almost as much as them" thus it's wrong to give them that raise.

The capitalists won. Instead of workers understanding why they have/feel alienation from other workers (and thus trying to reform the system to mutual economic benefit) they simply turned around and embrace the narrative that their entire lives are essentially a competition for commodity (wage labour) so someone has to be worse off than them "because i'm worth this much" and in doing so use their political power to maintain that alienation.

You don't actually have to be a "Marxist" to admit/see that critical theory provides some absolutely stellar examinations for why things are the way they are. You don't have to believe in a centralised planned economy to admit that "wow Marx made some good points". It's just that if you admit that, dumb people want to call you a stalinst/maoist trying to destroy society.
 

Cheimoon

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and it works. As people have posted on these forums and elsewhere, tweets from "amazon workers" and "teachers" pointing out "low skilled workers" would make "almost as much as them" thus it's wrong to give them that raise.

The capitalists won. Instead of workers understanding why they have/feel alienation from other workers (and thus trying to reform the system to mutual economic benefit) they simply turned around and embrace the narrative that their entire lives are essentially a competition for commodity (wage labour) so someone has to be worse off than them "because i'm worth this much" and in doing so use their political power to maintain that alienation.

You don't actually have to be a "Marxist" to admit/see that critical theory provides some absolutely stellar examinations for why things are the way they are. You don't have to believe in a centralised planned economy to admit that "wow Marx made some good points". It's just that if you admit that, dumb people want to call you a stalinst/maoist trying to destroy society.
There's too.many strands of socialism! Who still knows what Stalinist or Maoist means? :lol:

Anyway, I agree. Class used to be a big thing, but who now still talks about it in that way? Do so, and you're branded a communist/Marxist (in the sense of a curse) and disruptor of society. But meanwhile, the societal dynamics are largely the same.
 

WPMUFC

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There's too.many strands of socialism! Who still knows what Stalinist or Maoist means? :lol:

Anyway, I agree. Class used to be a big thing, but who now still talks about it in that way? Do so, and you're branded a communist/Marxist (in the sense of a curse) and disruptor of society. But meanwhile, the societal dynamics are largely the same.
Stalinist, Maoist are essentially rallying cries for conservatives and tankies to troll each other rather than daring to have a genuine discussion. They are utterly meaningless white noise labels. "Socialism" is heading that way as well. An utterly useless term that even the likes of Bernie Sanders has diluted into "capital taxation for public services".

It's truly disheartening that the alienation we see even with the $15/hr talk in 2021 is so beautifully explained by Marx, Hegel et al., that centuries can pass and still these fundamental concepts still play out.
 

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Stalinist, Maoist are essentially rallying cries for conservatives and tankies to troll each other rather than daring to have a genuine discussion. They are utterly meaningless white noise labels. "Socialism" is heading that way as well. An utterly useless term that even the likes of Bernie Sanders has diluted into "capital taxation for public services".

It's truly disheartening that the alienation we see even with the $15/hr talk in 2021 is so beautifully explained by Marx, Hegel et al., that centuries can pass and still these fundamental concepts still play out.
I know, I was just trying (poorly?) to make fun of the sectarianism within communism. Just waiting for Trotskyist to reappear. But I agree that the whole thing now just amounts to labels to quickly dismiss people. And Sanders should better call himself a social-democrat - although that term seems less known in the US?

This is not just a US thing though. I don't know about you guys in Australia, but the working class isn't a political subject here in Canada. The Liberals are all about the middle class, and the NDP are ... well, they are. In Europe, from what I know, few mainstream parties would refer to the working class or anything similar. Somehow, those concepts have just been removed from mainstream political discourse. But the problem is that, when you don't have that subject available, you can't propose policy around it either - while it's probably a bigger one-size-fits-all factor in inequities than e.g. race. (There isn't just a single factory, of course; but the simplification of political discourse tends to need that sort of approach.)
 

WPMUFC

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I know, I was just trying (poorly?) to make fun of the sectarianism within communism. Just waiting for Trotskyist to reappear. But I agree that the whole thing now just amounts to labels to quickly dismiss people. And Sanders should better call himself a social-democrat - although that term seems less known in the US?

This is not just a US thing though. I don't know about you guys in Australia, but the working class isn't a political subject here in Canada. The Liberals are all about the middle class, and the NDP are ... well, they are. In Europe, from what I know, few mainstream parties would refer to the working class or anything similar. Somehow, those concepts have just been removed from mainstream political discourse. But the problem is that, when you don't have that subject available, you can't propose policy around it either - while it's probably a bigger one-size-fits-all factor in inequities than e.g. race. (There isn't just a single factory, of course; but the simplification of political discourse tends to need that sort of approach.)
oh i wasn't having a crack at you :) Apologies if that came across like that. I was more in "serious agreement" with the point you were making. :lol:

Also agree it's not just a US thing. Every WEIRD "Western, educated, industrialized, rich and democratic" country has transitioned away from the fundamental questions of alienation etc in terms of political discourse. Hence why i tend to see the usefulness of Marx, Hegel in terms of the 15/hr conversation and it's alienation underpinnings. But i also accept that kind of scholarly foundation likely has to be reframed and reworked to disassociate it from hammer/sickles and "insert communist anthem here" rhetoric.
 

Adisa

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There's very little evidence higher minimum wage increases unemployment. Just scaremongering bullshit.
 

Jericholyte2

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There’s no way this reaches 2800 + pages.
Even if Joe managed to go 8 years.
I don’t know, if the yanks keep reacting so aggressively to horrific policy like giving people a wage they could actually even remotely survive on then we may be getting lots more pages.
 

Maticmaker

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What happened to the "You will never get rich working for someone else, self employment is the way to go"... wasn't that one of Pres Joe's clarion calls, back in the day (80's & 90's)? ....May be wrong, so apologies to Joe if that's the case, it was nearly 40 yrs ago and he was only a whipper-snapper in his mid-thirties!
Just wonder though how many of his former remarks, now completely at odds with his new regime, will be resurrected to haunt him in office?
 

MTF

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https://nymag.com/intelligencer/2021/01/what-is-in-biden-covid-relief-stimulus-list.html
The Good, the Bad, and the Odd in Biden’s Stimulus Plan

Section on the EITC is good, was lifted from here.
It doesn't seem the best designed!

...

@MTF
One of the few things I internalised and accepted from my compulsory Econ 101 is min wage increases = bad job killer. 10 years since I took the course there are literally tons of carefully obtained data within the US showing next to no effect on jobs.


So my first point is that it seems the field is shifting a bit (perhaps, a funeral at a time, like all fields). And certainly I know there are economists who have weird views on national ebt and deficit spending, and the years since 2008 haven't been bad for their predictions.

Secondly, that the awfulness of minimum wages remains ever-present in the textbooks and among many economists, including this charmer; she was last in the news for telling EMTs that drug addicts should be left to die since saving them is a moral hazard generating more addicts. What I'm trying to say is that econ departments do need "pointless morality tests".

Well, I was replying to Eboue's specific line of questioning as to how many lives is the national debt worth. It's pointless because we can't actually trade any number of lives for erasing debt.

As far as the min wage, I've come around to thinking that there are certainly levels/increments you can raise it without affecting the employment level. I think it generally requires an economy already functioning close to full employment, which the US was for several years pre-pandemic.

But certainly it's somewhat clear that it needs to be grounded in some reality of the existing wage levels in a country. You can't set the min wage in Brazil, Mexico or India at the equivalent to USD 15 an hour and expect it will work.
 

Needham

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Just wonder though how many of his former remarks, now completely at odds with his new regime, will be resurrected to haunt him in office?
None, so long as he keeps script-prompt parroting the authoritarian shibboleths of the new world religion.
 

Grinner

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What happened to the "You will never get rich working for someone else, self employment is the way to go"... wasn't that one of Pres Joe's clarion calls, back in the day (80's & 90's)? ....May be wrong, so apologies to Joe if that's the case, it was nearly 40 yrs ago and he was only a whipper-snapper in his mid-thirties!
Just wonder though how many of his former remarks, now completely at odds with his new regime, will be resurrected to haunt him in office?

So you've posted a quote which you don't even know whether it is accurate or not to make some vague point about possible things maybe said 40 years ago about different times and economic realities that maybe Biden doesn't think apply presently?

Or did I miss something?
 

Needham

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So you've posted a quote which you don't even know whether it is accurate or not to make some vague point about possible things maybe said 40 years ago about different times and economic realities that maybe Biden doesn't think apply presently?

Or did I miss something?
Yeah, you missed how within that time he has also suffered chronic cognitive decline and is now the sock puppet of an outlook he is unable to grasp.
 

Conor

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What happened to the "You will never get rich working for someone else, self employment is the way to go"... wasn't that one of Pres Joe's clarion calls, back in the day (80's & 90's)? ....May be wrong, so apologies to Joe if that's the case, it was nearly 40 yrs ago and he was only a whipper-snapper in his mid-thirties!
Just wonder though how many of his former remarks, now completely at odds with his new regime, will be resurrected to haunt him in office?
Someone might have changed their stance on a topic over the course of 40 years? That's wild, man.
 

Grinner

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WI_Red

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So what? He's clearly an effective negotiator, knows the job and is very well connected. Who do you think he should name?
Dems gonna Dem. Harrison was the golden child when he was challenging Graham for the Senate, now he fails the purity test
(not directed at you @Drifter)
 

entropy

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Where's my arc, Paulie?

Abizzz

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perfect encapsulation of the democratic party to pick a guy who broke fundraising records then lost to lindsey graham by double digits.
:lol:

To be fair the fundraising part might be a pretty important part of being DNC chair.
 

berbatrick

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Well, I was replying to Eboue's specific line of questioning as to how many lives is the national debt worth. It's pointless because we can't actually trade any number of lives for erasing debt.

As far as the min wage, I've come around to thinking that there are certainly levels/increments you can raise it without affecting the employment level. I think it generally requires an economy already functioning close to full employment, which the US was for several years pre-pandemic.

But certainly it's somewhat clear that it needs to be grounded in some reality of the existing wage levels in a country. You can't set the min wage in Brazil, Mexico or India at the equivalent to USD 15 an hour and expect it will work.
For sure.

About debt, I think the US is in a unique position and that the currency remains stable and yields low no matter how much it prints money. Last few yers printing has gone up, first to finance lower taxes on the wealthy, and then for an emergency response. I wonder if the markets will also forgive printing for redistribution.
 

calodo2003

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