Cut taxes to create jobs? We’ve tried it and tried it
According to conservatives, the Obama stimulus package passed in early 2009 hasn’t worked, and it’s time to try something else. Every single Republican candidate for president believes that the “something else” in question ought to be tax cuts.
We all familiar with the mantra by now: Tax cuts create millions of jobs. Tax cuts boost the economy. Tax cuts increase government revenue. Tax cuts cure cancer, and if global warming were real, tax cuts could probably cure that too. All we need to do is remove government from our wallets, and the recovery would bloom.
However, there’s a serious problem with that analysis — well, more than one, really, but let’s just deal with them one at a time for the moment. You see, economists agree that the most accurate way to measure a nation’s tax burden is to look at federal revenue as a percentage of the nation’s gross domestic product. That number tells you how much of the nation’s economic output is being siphoned off to finance government each year, and how much is being left in private hands.
Since the end of World War II, the federal government has collected an average of 18.5 percent of GDP. However, as the chart below demonstrates, in fiscal 2009, 2010 and now 2011, that percentage has fallen dramatically.
Source: OMB Historical Tables, chart by Jay Bookman
This year, total federal revenue is expected to be just 14.4 percent of GDP, the lowest rate since 1950. Over the past three years, it has taken a smaller share out of the economy than in any three-year period since 1941-43.
That’s real money. If federal revenue as a share of GDP were at its historic norm, the government would be collecting another $600 billion a year in taxes. But it’s not.
So my question is, with federal revenue as a share of GDP at a 60-year low, where are the jobs? And with federal revenue as a share of GDP well below its historic norms for most of the past decade, why did the jobs disappear in the first place?
As always, responses with a basis in fact are appreciated.
– Jay Bookman
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427 comments Add your comment
Keep Up the Good Fight!
June 21st, 2011
2:32 pm
Tax cuts….the stim was 1/3 tax cuts. Perhaps that is one reason the recovery is slow.
Bosch
June 21st, 2011
2:33 pm
It’s all about stagnant wages. Sure tax cuts put extra money in your pocket, but not enough to matter. Those stimulus checks Bush sent out were supposed to cure everything too, remember? The fact is, most people spent them on already accrued debt.
What’s that definition of insanity again?
Keep Up the Good Fight!
June 21st, 2011
2:34 pm
As always, responses with a basis in fact are appreciated. We’ll see how well that works out. But a great thought.
Brosephus
June 21st, 2011
2:39 pm
Tax cuts to create jobs??? Surely, you’re trying out for SNL hosting duties, right???
Common Sense isn't very Common
June 21st, 2011
2:42 pm
How many here think Obama is a closet communist? What with his health care bill and taking from the wealthy etc.
stands for decibels
June 21st, 2011
2:44 pm
And with federal revenue as a share of GDP well below its historic norms for most of the past decade, why did the jobs disappear in the first place?
Irrational fear of spending, irrational fear of inflation, irrational fear of imaginary bond vigilantes…
hard to know which one of these irrational fears needs to go to the front of the line in order to answer the question.
1811/1801 - 0311/0317
June 21st, 2011
2:45 pm
Oh, thank you Jay.
I was starting to have “chart withdrawal symptoms” !
stands for decibels
June 21st, 2011
2:47 pm
I almost forgot to add “irrational fear of upsetting the tender feefees of our Galtian overlords by raising their historically low taxes” to my list @ 2.44. I regret the error.
Jay
June 21st, 2011
2:47 pm
GLL, I’ve been forwarded several complaints about you referring to fellow posters as an imbecile and as vermin.
Cease.
And Keep, I see you’ve been wandering over the line as well.
dwaynel
June 21st, 2011
2:48 pm
Well taxing people definitely won’t create jobs because they’ll be paying their money to the federal govt. to waste or hand out to freeloaders.
RedEye
June 21st, 2011
2:50 pm
Jay,
Tax cuts in fact do increase federal revenue as a percentage of GDP. When the highest tax rates were at 91% after WW2, the average for revenues as a % of GDP was around 7 %. When Kennedy cut the highest tax rate to 70%, revenues went to 8%, and when Reagan cut the highest tax rate to 50% revenues went to 8.3%.
http://online.wsj.com/article_email/SB10001424052702304259304576375951025762400-lMyQjAxMTAxMDEwNTExNDUyWj.html
larry
June 21st, 2011
2:51 pm
You want to create jobs? Three words .
Demand!!, Demand!! and Demand!!.
Recon (2nd.and 3rd.)
June 21st, 2011
2:51 pm
“According to reality, the Obama stimulus package passed in early 2009 hasn’t worked, and it’s time to try something else.”
Now that’s change we can believe in.
poison pen
June 21st, 2011
2:52 pm
I say spend, spend spend because it’s really working well. isn’t it !
larry
June 21st, 2011
2:52 pm
And over the top customer service helps demand.
Bosch
June 21st, 2011
2:54 pm
“the Obama stimulus package passed in early 2009 hasn’t worked, and it’s time to try something else.”
Yeah, Del, maybe we could leave billions or so in tax cuts out next time.
Dave R.
June 21st, 2011
2:54 pm
“This year, total federal revenue is expected to be just 14.4 percent of GDP, the lowest rate since 1950. Over the past three years, it has taken a smaller share out of the economy than in any three-year period since 1941-43.”
Ever hear of a RECESSION, Jay? The recession is the CAUSE, and lowers revenues are the EFFECT.
Sheesh!
Monroe Burbank
June 21st, 2011
2:55 pm
During 2010, 610,000 net jobs were created. Net jobs means jobs created minus jobs lost. During 8 years in office, the Bush administration created only 1,080,000 net jobs. Yes, the stimulus did create jobs.
A business will add jobs when more people walk in the door of that business to buy either a product or service. Cutting a company’s taxes will not add jobs because more people aren’t walking in the door to buy more services. Cutting the taxes of workers puts more money in their pockets. When most of them start spending this money on goods and services, jobs will be added to payrolls.
Adam
June 21st, 2011
2:56 pm
Dave R: You must have missed the GDP part.
stands for decibels
June 21st, 2011
2:56 pm
According to reality
I tend to believe conservatives parted ways with reality shortly after Eddie Burke kicked the bucket.
Keep Up the Good Fight!
June 21st, 2011
2:56 pm
Jay, only in response to racial nonsense posted as fact, but duly noted.
Terd Fergesun
June 21st, 2011
2:57 pm
This is an actual line released today from a meeting that Obama had with his staff.
“Over the last 15 months we’ve created over 2.1 million private sector jobs”. (Laughter.)
They laughed when he made this statement! Imagine being a CEO and making what you think is a positive statement to your shareholders and you get laughter because they know it is not factual. This guy and his people close to him all live in the land of Dr, Suess. Reality is something that does not exist. At least not until November 2012 when it bites them on their Obama’s.
Rational thinking in short supply for libs
June 21st, 2011
2:58 pm
Tax cuts would allow me to keep more of the money that I earn. The government did not earn it, I did, so keep your dirty dick-skinners off of my earnings.
Recon (2nd.and 3rd.)
June 21st, 2011
2:58 pm
Bosch, absolutely! I say tax and regulate the bastards into hiring and if that doesn’t work, tax and regulate the bastards even more. Sooner or later they’ll give in.
poison pen
June 21st, 2011
2:59 pm
I and a lot of other people have said the same thing, ” cut out the tax loopholes ”
I believe it’s time for a complete tax overhaul, a subsidy overhaul and stop giving our money away to other countries.
Redneck Convert (R--and proud of it)
June 21st, 2011
2:59 pm
Well, just because the new jobs were in China or Cambodia or India is no reason why the tax cuts never created jobs. What we need to do is cut taxes some more so our tax rates are lower than those countries. Then the rich people that get the big tax cuts might create some jobs here.
If it don’t work the first couple times, try it again.
Get me Rex Kramer
June 21st, 2011
3:00 pm
Jay, that $600 Billion you speak of would be everyone paying more in taxes, not just the rich. As someone the liberals refer to a rich, I would be willing to pay more taxes if everyone paid more and the government made serious spending cuts. If not, the president and congress will just spend any new taxes collected from the rich without lowering the deficit a dime.
Dave R.
June 21st, 2011
3:00 pm
Adam, they’re both related. But you wouldn’t know that.
K
June 21st, 2011
3:00 pm
How about repealing he 2005 changes to the bankruptcy laws, created by the Republicans to protect the big banks, and allow hard working people to begin spending again.
stands for decibels
June 21st, 2011
3:01 pm
“dick-skinners”?
Are you from San Francisco, perchance?
Jay
June 21st, 2011
3:02 pm
Dave R., lower taxes are also a large part of the explanation. The initial Bush tax cuts, the Bush stimulus near the end of his term, the roughly $250 billion in tax cuts in the Obama stimulus, the extension of the Bush tax cuts, cuts in business taxes, etc.
Brosephus
June 21st, 2011
3:02 pm
Tax cuts would allow me to keep more of the money that I earn. The government did not earn it, I did, so keep your dirty dick-skinners off of my earnings.
poison pen
June 21st, 2011
3:04 pm
Stands, that was funny.
eddie
June 21st, 2011
3:04 pm
So the Dems want taxes….let them implement the Fair Tax so that everyone is taxed based upon consumption. But this doesn’t fit the paradigm. Let’s only tax the rich. Well, news flash….the wealthy will find ways to avoid the taxes so the revenue stream intended will not happen plus there are not enough “rich” people so that if you took everything they earned, it would not significantly reduce the debt. Fair Tax is the only way.
Recon (2nd.and 3rd.)
June 21st, 2011
3:04 pm
Bosch, absolutely! I say tax and regulate the corporate bums into hiring and if that doesn’t work tax and regulate them even more. Sooner or later they’ll give in.
The moderated version
Mick
June 21st, 2011
3:06 pm
If that is the main republican talking point or plan, then obama gets four more, regardless who the nominee is. Been there, done that – not a credible solution to what ails this economy…
Kingsmill
June 21st, 2011
3:06 pm
“This year, total federal revenue is expected to be just 14.4 percent of GDP, the lowest rate since 1950…”
If the current administration hangs around for four more years GDP will continue to decline, and federal revenue will therefore constitute a larger percentage. Voila – problem solved.
Another Voice
June 21st, 2011
3:07 pm
The repuks will continue to sing the “Tax Cuts” tune all day long no matter what, their strategy is not about the facts or reality. If you are a republican you stick to the talking points no matter what….. Great article Jay but you won’t penetrate the bone head republicans.
Thulsa Doom
June 21st, 2011
3:07 pm
Apparently Keyenesian economics doesn’t work either. Just ask Obama.
Dave R.
June 21st, 2011
3:07 pm
Absolutely, Jay, but as usual, you only paint half a picture.
We know that just lowering taxes will only work so far.
We know that increased spending only works so far, and puts us dangerously in debt.
Why don’t we actually try a third option?
Cut wasteful regulations.
And the poutrage kicks in in 3 . . .2 . . .1. . .
Recon (2nd.and 3rd.)
June 21st, 2011
3:08 pm
Mick, how are you doing? quick question, what is the Obama creditable solution?
Terd Fergesun
June 21st, 2011
3:09 pm
Another voice, please tell us what the democrats plan is because no in DC seems to know. maybe you can educate us and make us see the liberal light. Then again, you probably don’t know the dem plan either.
Wake Up Georgia!
June 21st, 2011
3:10 pm
Republican propaganda. Tax cuts never really work. What is needy is tax reform. Right now I have an F-16 flying cover, air traffic controllers keeping my flight from running into another flight, the Marines fighting to protect me from the idiot terrorists in Afghanistan, the FDA protecting my food and medicine, the EPA protecting my water, the National Park Service protecting and showcasing my favorite national park—Grand Teton, the DOT constantly widening and improving the interstate system, the National Weather Service alerting me to tornadoes and hurricanes in South Georgia, and you can name countless other necessities. Makes me mad that so called “patriots” do not want to pay their fair share of taxes. I get more than a bargain for what I pay. Frankly more so on the federal level than state and local. People in this country just do not know how great they have it.
Kamchak
June 21st, 2011
3:11 pm
Fair Tax is the only way.
Not intended to be a factual statement.
Common Sense isn't very Common
June 21st, 2011
3:11 pm
It doesn’t help that many people don’t consider the fact that for every dollar that is spent on imported products from countries with which we have a trade deficit is a drain of US jobs.
They don’t think that just because they buy these products from communist countries that they are in fact supporting communism.
Lack of consideration about sources of goods or services is the mainstay of the ultimate consumer.
Steven Q. Stanley
June 21st, 2011
3:11 pm
Cutting taxes isn’t going to help. Job and wage growth can only be facilitated by small business growth, which is struggling with the never ending regulation imposed by Big Business and Big Government.
Brosephus
June 21st, 2011
3:11 pm
Jay @ 3:02
Ever think that mabye Obama’s trying to undercut the GOP with their own message? Seems that they preach that tax cuts will get the economy to going. We’ve seen Obama put tax cuts into the stimulus. He’s extended Bush’s original cuts. He’s also cut SS taxes. Even with all that cutting, the economy is still stagnant. Makes one think, doesn’t it???
yuzeyurbrane
June 21st, 2011
3:11 pm
You are preaching to the choir here. It is only 1 of several “beliefs” that many Americans have swallowed. The trouble is that they are all “beliefs” which makes them more akin to religion than economics. Another is that balancing the budget is good even in deflationary times and even if it means slashing investments in the future, like education. Smart companies are investing now to be ready to take advantage of the next upswing in the economic pendulum. But jobs won’t come until their is demand for products. And you are more likely to hasten that by some pumppriming to get cash to those who will most likely spend it quickly–the poor and the middle class. Can you imagine how much more severe our recession would have been if we had not been pumping unemployment insurance and Social Security payments into the economy? :Yet the Republicans are still trying to gut programs just like that! People who know their history know that Hoover turned a stock market crash into a Depression by following just such policies. And FDR had a double-dip recession in 1937 because he abandoned his Keynesian policies too soon. The problem this time around has not been too much Keynes but too little.
Keep Up the Good Fight!
June 21st, 2011
3:11 pm
Dave R….. We can agree to cut wasteful regulations whether the economy is doing well or not. Of course, now that we agree on the talking point, the real work of determining what is “wasteful” begins.
BADA BING
June 21st, 2011
3:12 pm
Rex Kramer……I picked the wrong day to stop sniffing glue.
Thulsa Doom
June 21st, 2011
3:12 pm
One reason less federal tax receipts are lower is that the corporate tax rate is basically the 2nd highest in the world- a tenth of a point lower than Japan’s. Corporations are probably getting tired of this crap. Is it any wonder that Google and various other companies are shielding billions in profits in offshore branches? Duh. Lower the corporate tax rate to a reasonable level and watch the money come back in. This is just common sense. So yeah. Lower the corporate income tax rate.
Dave R.
June 21st, 2011
3:12 pm
“Makes me mad that so called “patriots” do not want to pay their fair share of taxes.”
Who are YOU to decide what is fair for someone else, Wake Up?
Rightwing Troll
June 21st, 2011
3:13 pm
What if the stimulus DID work? What if we hadn’t done anything, and things were worse?
I know, I know, crazy suppositions… to those who needed Obama to be a HUGE failure to make themselves feel better about thier complicity in the 8 years previous… but a valid question none the less.
I’m still waiting on a single solitary example of a government regulation put in place by Obama that is killing American business…, and that list of 3 impeachable offenses…
1811/1801 - 0311/0317
June 21st, 2011
3:13 pm
Hey “lock-nuts” ………….. take the test. I made 87.88 !
“If you’re wondering why we are in such a mess these days, the following test is a perfect example of the “why.” If the general public scores only 49% on-average and so-called college professors score only 55% on-average, do you need any other examples?”
This test is not an easy one.
The website reports that college professors average about 55%.
Intercollegiate Studies Institute – Educating for Liberty
http://www.isi.org/quiz.aspx?q=FE5C3B47-9675-41E0-9CF3-072BB31E2692
George P. Burdell
June 21st, 2011
3:13 pm
Look at it from the other direction as well. Do you think raising taxes is honestly going to improve the employment situtation? Sure the government will take in more revenue which could lead to more spending, if they were not already spending way more than they take in. I suspect that, as other posters have noted, that the excess money generated from lower taxes is going to pay down debt for consumers which is not going to ignite the economy. In the long run, it will make us better off. If we raise taxes, it will not provide additional stimulus because the government has already tried that route. If they would try to reduce debts, that would be better for all of us but they have shown little appetite for that route. Businesses are sitting on a pile of cash and they are not expanding because there is no demand for products. Until consumers get their own personal balance sheet in order, even direct rebate checks will not work to stimulate the economy.
Rightwing Troll
June 21st, 2011
3:14 pm
“Who are YOU to decide what is fair for someone else, Wake Up?”
A valid question for you as well.
Adam
June 21st, 2011
3:14 pm
The best third option is a reversal of both wasteful spending AND tax cuts. Since those two got us into this mess, it stands to reason that reversing them both can help get us out. And sure, wasteful regulations can be lumped in with wasteful spending. But let’s go ahead and find out which regulations are wasteful and which aren’t. Blanket removal of regulations, or blanket cuts, or blanket tax changes aren’t really going to help us if we’re not being responsible.
The biggest enemy to business right now is the fact that the middle class on down have the same wages that they did 30 years ago while prices have risen and fewer of them have jobs with those wages. But hey, worker productivity is up! Yay!
1811/1801 - 0311/0317
June 21st, 2011
3:15 pm
Kamchak @ 3:11 pm
“Fair Tax is the only way.
Not intended to be a factual statement.”
Kammie is not intended to be a factual person.
JW
June 21st, 2011
3:15 pm
Contrary to Congressional dreamers, you can never spend your way out of debt nor can you tax cut your way to job creation, increased receipt of revenues and prosperity. The only ones that ever benefit from such government policies are the upper 1% of income earners. I believe that Mao once said, “He who has all the bullets, has all the butter.”
The rest of us are left to live on less, do without, or die.
Dave R.
June 21st, 2011
3:16 pm
“I’m still waiting on a single solitary example of a government regulation put in place by Obama that is killing American business.”
Obamacare.
Thus ends another episode of simple answers to stupid questions.
Bosch
June 21st, 2011
3:16 pm
Scout,
We are the moonbats, get it right.
~~~~~~~~~
Who did Jay ban earlier this morning?
Granny Godzilla
June 21st, 2011
3:16 pm
If the tax cuts worked we would not be having this discussion.
How much more simple to we have to make it for some to understand?
TM
June 21st, 2011
3:16 pm
So if cutting taxes does not create jobs, i guess we should increase individual income, corporate and estate taxes across the board and we will see an explosion of jobs.
Dave R.
June 21st, 2011
3:17 pm
Troll, I don’t determine what is fair for someone else, nor would I want to. I only determine what is fair for me. Unlike YOU, I don’t care how much or how little someone else makes, as it is not my business.
Nor is it YOURS.
Adam
June 21st, 2011
3:19 pm
Dave R: It’s no worse than deciding it’s fair for someone who advocates for more taxes to be the only one who pays those taxes, while the person who doesn’t favor them doesn’t pay them.
If you don’t like taxes, or where they’re going, TOUGH. You won’t agree 100% and showing you where the taxes go doesn’t change your mind one way or the other. You just fall along ideological and preconceived lines anyway. All of you. It’s been statistically proven.
If you don’t want this kind of government, which is BY THE PEOPLE, OF THE PEOPLE, and FOR THE PEOPLE (not by the people, of the politicians, for the corporations), then go live somewhere else. Surely with all your tax whining there are places with lower taxes that you would rather be.
1811/1801 - 0311/0317
June 21st, 2011
3:19 pm
“Taxes are what we pay for an organized society” Justice Oliver W. Holmes
I am always amazed at these far right (or left) tax protestors who claim they have the right not to pay any taxes and that the “sheriff” is the only legal office in the country.
However, while going to and from their protests they like to drive on tax payer paid highways, drink taxpayer paid safe water, eat taxpayer paid inspected meat, etc., etc.
Can we say “knuckleheads” ?
BTW: In the “early” days, I spent three years as a criminal invesigator with IRS – CID …………………..
RedEye
June 21st, 2011
3:19 pm
Federal spending as a % of GDP went from an average of 17% during the Bush years to 24% this year under Obama.
Federal revenues as a % of GDP went from an average of 17% during the Bush years to under 15% under Obama thus far.
http://www.cbo.gov/ftpdocs/120xx/doc12085/03-10-ReducingTheDeficit.pdf
1811/1801 - 0311/0317
June 21st, 2011
3:19 pm
Oooops ………… I think that was “civilized” society.
Dave R.
June 21st, 2011
3:20 pm
“The best third option is a reversal of both wasteful spending AND tax cuts. Since those two got us into this mess, it stands to reason that reversing them both can help get us out.”
Adam, Pay attention.
The premise Jay puts forth has NOTHING to do with debt or deficits, but rather job creation. While reducing our debt might lead to some more job creation, raising taxes will NOT.
1811/1801 - 0311/0317
June 21st, 2011
3:20 pm
Bosch @ 3:16
You lost me ???
Recon (2nd.and 3rd.)
June 21st, 2011
3:20 pm
“I’m still waiting on a single solitary example of a government regulation put in place by Obama that is killing American business.” Should be killing American business investment. ObamaCare has hung out a big cloud of uncertainty that has had significant effect. Check out the McKinsey and Price Waterhouse reports.
Jay
June 21st, 2011
3:21 pm
Peadawg….
Peadawg
June 21st, 2011
3:21 pm
“Federal spending as a % of GDP went from an average of 17% during the Bush years to 24% this year under Obama.” – But it’s a revenue problem I tell ya!!!!!
Bosch
June 21st, 2011
3:21 pm
Scout,
I’m not surprised. You have been referring to those on my side of the aisle as “lock nuts” — we are “moonbats” — get your blog terminology right old man.
Peadawg
June 21st, 2011
3:22 pm
“Peadawg….”
What?!?
Adam
June 21st, 2011
3:22 pm
Scout @ 3:19: Careful, you’re starting to sound reasonable!
Another Voice
June 21st, 2011
3:23 pm
We are going to need the revenue if are to deal with the long term deficit even some repuks in the closet are already conceding that…..but they have to stick to the talking points. Taxes will have to go up at some point that is reality, spending needs to be cut also. But re-tooling the efforts to deal with short, medium and long term needs of the economy is the key. Right now consumers are not spending so the government is still the spender of last resort in the short term. The repuks they will continue to sing “Tax Cuts” just listen to their candidates, that is their only plan no matter what…..
Dave R.
June 21st, 2011
3:24 pm
“You just fall along ideological and preconceived lines anyway. All of you. It’s been statistically proven.”
This should be good. Cite?
“If you don’t want this kind of government, which is BY THE PEOPLE, OF THE PEOPLE, and FOR THE PEOPLE”
And once again using a quote from the worst Federalist overseer since the founding of this nation. Too bad it wasn’t the way the Founding Fathers thought this nation should be.
Thulsa Doom
June 21st, 2011
3:24 pm
Rightwing troll,
Otay. I’ll give you an example. I was listening to an oil exec talking about oil drilling permits in the business news last week. He said that only 7 new oil permits had been released so far this year- about a tenth of what they really need. The reason? The Obama administration is slowing down the approval process- openly hindering us from getting at our own oil resources while at the same time helping Brazil get its own oil via offshore drilling. How can you explain this contradictory energy policy? Pro- Brazilian and anti-American? You’ld be right. He also stated that in the Bush administration the process for approval took as little as 30-60 days max. Now its taking 8-9 months on average. There. You have your one example. And btw that’s a helluva lot of good paying blue collar jobs being denied directly due to this administration’s anti-business regulatory policies.
Bosch
June 21st, 2011
3:24 pm
Jay,
You have teenagers, right? Or had them, right? Doesn’t Peadawg’s 3:22 remind you of those years?
ragnar danneskjold
June 21st, 2011
3:25 pm
Good afternoon all. This is a regulatory recession. I respectfully believe the US could cut corporate taxes to 0% and the economy would not recover, due to the unlimited mandates and restrictions imposed by the bureaucracy. Welcome to Egypt on the Potomac.
Adam
June 21st, 2011
3:25 pm
Dave R: While reducing our debt might lead to some more job creation, raising taxes will NOT.
But if reducing our debt is done through both tax increases and reduced spending… well, I’ll let you work that one out. Ideologically it’s obvious that tax increases are “bad for job creation.” Yet, the tax increases that are usually advocated for right now are reduced or removed tax credits, mostly affecting the middle and lower classes. So, if we draw in more revenue from them, surely job creation won’t be affected, right?
Recon (2nd.and 3rd.)
June 21st, 2011
3:25 pm
Lock nuts sounds as serious as lock jaw.
Bosch
June 21st, 2011
3:25 pm
Doom,
“while at the same time helping Brazil get its own oil via offshore drilling.”
Well, it appears the oil executive was a bald faced liar, but then again, he is an oil executive so whose so surprised.
Peadawg
June 21st, 2011
3:26 pm
“You have teenagers, right? Or had them, right? Doesn’t Peadawg’s 3:22 remind you of those years?”
More like when a soccer players trips someone, gets a yellow/red card, and throws his arms in the air like “what’d I do?!?!?”
You going to let me 3:17 go through, Jay? I’ve seen a lot worse words on here on a daily basis.
Bosch
June 21st, 2011
3:26 pm
Del @ 3:25, for real. I like moonbat.
Thulsa Doom
June 21st, 2011
3:26 pm
granny,
and if Obama’s Keynesian economic policies worked we would not be having this discussion- nor 9.1% unemployment, spiraling deficits, debt, etc.
Really
June 21st, 2011
3:26 pm
Dave R.
Oh please do enlighten us all on how the healthcare reform is killing American business. Oh, and please be specific.
Adam
June 21st, 2011
3:28 pm
Dave R: This should be good. Cite?
You got it. And before you go all LIBERAL BIASSSSS on me, try to actually look at the DATA.
And once again using a quote from the worst Federalist overseer since the founding of this nation. Too bad it wasn’t the way the Founding Fathers thought this nation should be.
And what, they thought it should be run by corporations? Not by the people? What is your evidence that the Founding Fathers didn’t want this country to be by the people and for the people?
stands for decibels
June 21st, 2011
3:29 pm
How can you explain this contradictory energy policy? Pro- Brazilian and anti-American?
Copious ingestion of glue and the Drudge report would be my guess.
Kamchak
June 21st, 2011
3:29 pm
If the tax cuts worked we would not be having this discussion.
How much more simple to we have to make it for some to understand?
Succinct and right on point.
Well done Granny Godzilla.
Really
June 21st, 2011
3:29 pm
And please no anecdotal evidence. Real facts only if you don’t mind.
Dave R.
June 21st, 2011
3:31 pm
Really, with higher health care costs due to mandates of 26 year-olds, insurance rates are skyrocketing, thus costing businesses more money to retain benefit levels.
That money can’t be used to hire new workers.
Oh, and companies that specialized in providing low-cost health insurance for low income people are going out of business.
Now shoo!
Scooter (the Original)
June 21st, 2011
3:32 pm
Yeah I know… why would we want to let the capital markets (free individuals with money) invest in business start-ups when our all knowing politicians can confiscate wealth to create work through shovel ready projects? You know most of those ARA contracts were awarded to politically connected firms like Moreland Altobelli. It’s just chrony capitalism of a different nature.
stands for decibels
June 21st, 2011
3:32 pm
thus costing businesses more money to retain benefit levels.
But business aren’t (necessarily) retaining benefit levels. There’s nothing stopping a business in 2011 from imposing a higher deductable plan on their employees.
BlahBlahBlah
June 21st, 2011
3:33 pm
Revenues need to go up. Absolutely. However, we’ve almost NEVER gotten above 18% of GDP, even when top rates were > 70%.
So how can anyone on the left justify spending levels in excess of that 18% figure? I think right now we’re at 23-25% as far as the eye can see under President Obama, and any attempt to shave that down is demonized as DRACONIAN.
So who’s fooling who here?
Adam
June 21st, 2011
3:33 pm
Dave R: Oh, and companies that specialized in providing low-cost health insurance for low income people are going out of business.
I had not heard this. Cite?
Bosch
June 21st, 2011
3:33 pm
“with higher health care costs due to mandates of 26 year-olds, insurance rates are skyrocketing, thus costing businesses more money to retain benefit levels.”
Which is why we need single payer so we can get off the employer provided insurance model.
Darwin
June 21st, 2011
3:33 pm
It’s not about jobs. It’s the Republican line that’s been the same for decades. Government is for the rich and powerful. Tax cuts for the rich, and no domestic social programs for the people. It’s that simple. The Great Depression taught us that isn’t the way government should be. Government should be responsible to all people, not just the rich and powerful. It’s a lesson long lost today.
Jay
June 21st, 2011
3:34 pm
Actually, Thulsa, as a percentage of GDP, corporate taxes in the United States are lower than any other Western industrialized country.
In fact, of the 34 countries in the OECD, only Mexico and Chile have lower total tax burdens as a percentage of GDP than the United States. The OECD average is 35 percent. It’s 24 percent in the USA.