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Most Americans trust Obama, not failed GOP tax cuts for the rich
Cancel 2018. 3
<-- sched 2, MJ sched 1
president nearly always poll better than congress. you've been schooled in this how many times and you're still trolling the same bullshit.
i guess stupid is as stupid does
i guess stupid is as stupid does
http://www.forbes.com/sites/petercohan/2011/05/03/do-tax-cuts-create-jobs/
Image via WikipediaIt’s a mainstay of conservative orthodoxy that tax cuts create jobs. In fact, the complexity of the tax code does create jobs for high-priced tax attorneys and accountants. But do tax cuts create “real” jobs?
The answer appears to be no for companies big and small. After all, U.S. public companies pay well-below the official 35% tax rate while 13.5 million American workers search unsuccessfully for jobs And start ups tell me that tax cuts don’t affect whether they’ll create new jobs. In short, the tax cut rhetoric, while effective politics, is lousy economics.
George H. W. Bush wisely pointed out in his 1980 debate with Ronald Reagan that expecting to balance the budget with tax cuts and defense spending increases was “voodoo economics.” But along with Reagan’s ascendancy came the rise of huge budget deficits — that Bush wisely helped end when he agreed to raise taxes in 1990.
Despite $858 billion in December 2010 tax cuts, companies still complain that they pay too much in tax. General Electric (GE) has become famous for paying no taxes on its $5.1 billion in 2010 U.S. profits while keeping a big staff of lawyers on hand to make sure it pays as few of them as possible. Meanwhile, the New York Times reports that GE is not alone and that the prevailing estimate for the actual U.S. corporate tax rate is 25% — costing the U.S. about $100 billion in lost revenue.
But corporations have absolutely no reason to complain about taxes. After all, they earned record 2010 profits of $1.68 trillion and 85% of them are beating their first quarter 2011 earnings estimates as 70% are growing revenue faster than expected while their operating margins stand at a near record 19.8%.
And companies are achieving that record profitability by squeezing workers. After all, 2010 productivity rose 3.9% while unit labor costs fell 1.5%. To get more work out of the same number of workers while paying them less, it helps to have 13.5 million people out of work and the easy ability to hire part-time labor and outsource to countries that pay much lower wages.
So tax cuts have not spurred big companies to create jobs. But what about start ups? Based on my October 2010 interviews with 17 start up CEOs, my conclusion is that not a single one of them would create a job based on tax cuts. All of them told me that their decision to create a new job would be based on whether the long-term cost of that new job would be offset by higher revenues and profits.
Image via WikipediaIt’s a mainstay of conservative orthodoxy that tax cuts create jobs. In fact, the complexity of the tax code does create jobs for high-priced tax attorneys and accountants. But do tax cuts create “real” jobs?The answer appears to be no for companies big and small. After all, U.S. public companies pay well-below the official 35% tax rate while 13.5 million American workers search unsuccessfully for jobs And start ups tell me that tax cuts don’t affect whether they’ll create new jobs. In short, the tax cut rhetoric, while effective politics, is lousy economics.
George H. W. Bush wisely pointed out in his 1980 debate with Ronald Reagan that expecting to balance the budget with tax cuts and defense spending increases was “voodoo economics.” But along with Reagan’s ascendancy came the rise of huge budget deficits — that Bush wisely helped end when he agreed to raise taxes in 1990.
Despite $858 billion in December 2010 tax cuts, companies still complain that they pay too much in tax. General Electric (GE) has become famous for paying no taxes on its $5.1 billion in 2010 U.S. profits while keeping a big staff of lawyers on hand to make sure it pays as few of them as possible. Meanwhile, the New York Times reports that GE is not alone and that the prevailing estimate for the actual U.S. corporate tax rate is 25% — costing the U.S. about $100 billion in lost revenue.
But corporations have absolutely no reason to complain about taxes. After all, they earned record 2010 profits of $1.68 trillion and 85% of them are beating their first quarter 2011 earnings estimates as 70% are growing revenue faster than expected while their operating margins stand at a near record 19.8%.
And companies are achieving that record profitability by squeezing workers. After all, 2010 productivity rose 3.9% while unit labor costs fell 1.5%. To get more work out of the same number of workers while paying them less, it helps to have 13.5 million people out of work and the easy ability to hire part-time labor and outsource to countries that pay much lower wages.
So tax cuts have not spurred big companies to create jobs. But what about start ups? Based on my October 2010 interviews with 17 start up CEOs, my conclusion is that not a single one of them would create a job based on tax cuts. All of them told me that their decision to create a new job would be based on whether the long-term cost of that new job would be offset by higher revenues and profits.
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Guns Guns Guns
Guest
Are GOP Congressional incumbents in for a drubbing in November 2012?
Polling data looks bad for them at this point, and the more more they stall, obfuscate and filibuster instead of trying to improve the jobs situation, the worse it's likely to be.
Polling data looks bad for them at this point, and the more more they stall, obfuscate and filibuster instead of trying to improve the jobs situation, the worse it's likely to be.
zappasguitar
Well-known member
I can...They're delusional.
G
Guns Guns Guns
Guest
I seem to recall seeing polls that indicate that voters blame Bush and the GOP more.
And most Americans polled know it's Congress that passes laws, not the president.
[TD="width: 700, colspan: 7"]
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[TD="width: 700, colspan: 7"]
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Can do a
lot about 41%
Beyond any
president's
control 53%
Guess which party has been playing parliamentary games since January?
Republican party 32%
Democratic party 40%
http://www.pollingreport.com/budget.htm
And most Americans polled know it's Congress that passes laws, not the president.
[TD="width: 700, colspan: 7"]
CBS News/New York Times Poll. Sept. 10-15, 2011. N=1,452 adults nationwide. Margin of error ± 3.
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[TD="width: 700, colspan: 7"]
"Is the condition of the national economy something a president can do a lot about, or is that beyond any president's control?"
[/TD][TD="width: 700, colspan: 7"] [/TD]
Can do a
lot about 41%
Beyond any
president's
control 53%
Guess which party has been playing parliamentary games since January?
"Regardless of how you usually vote, do you think the Republican Party or the Democratic Party is more likely to create new jobs?"
Republican party 32%
Democratic party 40%
http://www.pollingreport.com/budget.htm