The corporate windfall from the great GOP tax scam will go for share buybacks, executive pay and bonuses, along with greater ability to grow larger and more powerful through mergers and acquisitions
First off, what is inflation? We all recognize it as increasing prices when we buy things. The spinner heads will tell you that no, according to the dictionary, inflation is an increase in the money supply. So let me ask, do we have the dictionary description of what inflation is? Let’s see:
Normally characterized by slow, steady growth, the U.S. money supply has grown 20% from $15.33 trillion at the end of 2019 to $18.3 trillion at the end of July.
Well dang! It looks to me like there’s been a quite hefty increase in the money supply, what says you? You agree?
Here’s the thing, though: the federally funded weekly payments ($600 last year, $300 this) — like state UI benefits — are taxable by the IRS at a minimum.
Most states tax UI benefits as well. Of the 40 states that tax income, only five — California, New Jersey, Oregon, Pennsylvania and Virginia — fully exempt UI benefits.