ECON ELLIOTT

Economist, Political Scientist, SHRM-CP, Criminal Justice reformer. University of Delaware, University of Arizona & CSUSB Alum. Opinions are my own. 🐻👇🌵

[ECON ELLIOTT @ECONELLIOTT]

@WhatRWeDoin1013 @TheHonestEvil @thatoriginalist @RockChartrand Relative to what? Oil? 🤣😂🤣
US government printed $17 TRILLION dollars in 2.5 years causing MASSIVE inflation.
Due to COVID, but some countries more than others.

US CPI up 30% 2019-2026‼️

2012-2019 CPI only increased 11.4%🤔

None of this has to do with capitalism. 🤦🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@WhatRWeDoin1013 @TheHonestEvil @thatoriginalist @RockChartrand Doesn't make any sense when they claim is about 40% of workers for the largest corporations. 🤷🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@WhatRWeDoin1013 @thatoriginalist @TheHonestEvil @RockChartrand Explains why they make up the majority (80-90%) of welfare recipients.
Added monthly benefits:
TANF: $775
SNAP: $553
Section 8: $1,000-$2,000
Medicaid: $600-$900
WIC: $100
Total: $3,028-$4,328
Real income goes from earned $2,170 a month to reciving $5,198 to $6,398‼️
$26K = 76K!

[ECON ELLIOTT @ECONELLIOTT]

@tlanderso @RockChartrand Supply & Demand are part of reality; the reality of human behavior and existence.
They, along with incentives, prices, and profits, direct resources to their most productive uses.
It isn't productive to have 10 people who can do the work when only 1 is needed (Demanded).

[ECON ELLIOTT @ECONELLIOTT]

@tlanderso @RockChartrand They are in competition with each other to sell their labor.
If there is too much, they ought to diversify their skills to something with higher demand & less supply of labor, so the price for that labor (wages) is higher.
It's very simple and requires ZERO gov interference‼️

[ECON ELLIOTT @ECONELLIOTT]

@tlanderso @RockChartrand Pretending Supply & Demand are not factors is silly.
Being highly productive at creating something no one wants nets $0.
Being good at creating something lots of people wants creates more $.
Productivity is a factor, but if anyone can do the job, competition forces wages down. 🤷🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@tonyannett You think SEVEN RECESSIONS in 30 years is good?🤯🤯🤯
A Renaissance of retardation in the economy? 🧐🤔
I mean, you're right that statist and socialist policies caused that, but I certainly would characterize those 30 years as good economic times!

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand Nope.
Clothing has never been cheaper!
The oligopoly market structure, featuring cars, oil, & diamonds, has the highest prices of all market structures.
Most things are in monopolistic markets (not monopolies).
Those markets have good competition with decreasing prices. 👍

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand Competition makes prices come down (increasing supply), not government mandates and regulations. 🤦🏻‍♀️
Competition prevents companies from charging excessive prices.
We need more people in business, not less.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand How would reducing profits help? 🤔
People are incentivized to create businesses, jobs, etc, due to profits.
Take away the profit motive & you take away half the economy.
Profits direct resources to more efficient uses.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand That's a public subsidy.
Some single woman who only makes $30 an hour, but has 6 kids, and no Baby Daddy, will still qualify for all kinds of bennies/welfare.
That's not her employer's fault for not paying enough!!!!

[ECON ELLIOTT @ECONELLIOTT]

@WhatRWeDoin1013 @TheHonestEvil @thatoriginalist @RockChartrand Is there evidence for this stat?
Only 30% of ALL Americans receive any sort of government assistance, so 40% of workers at the largest corporations seems VERY high.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand @Apple In the US?
Or somewhere $2 will buy something?

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Who are they exploiting? 🤯

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple I don't know that company.
You look up the average wage vs. Local wages wherever they are.
I'm sure you'll find, like most American companies, that they pay higher than the average in their area.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand What subsidies is Starbucks getting? 🤔
Honestly, NO ONE should be getting subsidies. 🤦🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand That's 1.5 million of the 33.2 million, or 4.5%
Even still, if the corporation decides to spend its money buying back its stock, who cares because it benefits itself?
It's irrelevant. 🤦🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Your argument is a non-sequitur.
Apple is one of the best-paying companies on the planet!!

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand The business's money BELONGS to the owners!!!!!
98% of all businesses are small businesses.
Read up on what an S-Corp is.
Again, less than 1% of companies have public stock. This is a non-issue in a country of 350 million people and 32 million businesses.