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Old 12-08-2010, 04:00 PM
 
6,899 posts, read 6,580,268 times
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If this Package pass both the houses as is with the extension of Bush tax cuts and the reduction in Payroll taxes, I assume the unemployment numbers should begin to go down around June 2011? There should be no "fear" from employers to create or retain jobs.


Right......
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Old 12-08-2010, 04:05 PM
 
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They'll do the same like they have for the past 10 years, pocket the money and create tons of new jobs,......in communist china.
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Old 12-08-2010, 04:07 PM
 
6,745 posts, read 8,292,414 times
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We should expect unemployment to plummet immediately. Republicans expected change from day one of the new admin.

Tax cuts didn't work from '00-'08 and they aren't going to work now. Business will hire when consumers start consuming! It's the middle that needs relief...not the top! The extension is a joke and not fiscally prudent! It proves that the GOP meant it when they said deficits don't matter.
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Old 12-08-2010, 04:07 PM
 
66,447 posts, read 30,302,435 times
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Quote:
Originally Posted by blackandproud View Post
If this Package pass both the houses as is with the extension of Bush tax cuts and the reduction in Payroll taxes, I assume the unemployment numbers should begin to go down around June 2011?
No, they won't. To quote Obama's buddy Larry Summers...
Quote:
"To fully understand unemployment, we must consider the causes of recorded long-term unemployment. Empirical evidence shows that two causes are welfare payments and unemployment insurance."
More detailed explanation, here:
Unemployment: The Concise Encyclopedia of Economics

Until the causes of long-term unemployment (welfare payments and unemployment insurance) are removed, unemployment numbers won't go down.
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Old 12-08-2010, 04:10 PM
 
Location: California
11,435 posts, read 17,144,928 times
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So you don't like the tax cuts the way they have been? You don't like a little more money in your pocket? a little less for the government to throw away? well either you are all rich or on welfare? I'm guessing welfare.
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Old 12-08-2010, 04:12 PM
 
6,899 posts, read 6,580,268 times
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Originally Posted by Roaddog View Post
So you don't like the tax cuts the way they have been? You don't like a little more money in your pocket? a little less for the government to throw away? well either you are all rich or on welfare? I'm guessing welfare.

Maybe you should refrain from trolling and making ignorant comments.
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Old 12-08-2010, 04:54 PM
 
Location: Columbus
4,879 posts, read 3,905,718 times
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Quote:
Originally Posted by blackandproud View Post
Maybe you should refrain from trolling and making ignorant comments.
Maybe you should re-read your original post.
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Old 12-08-2010, 05:00 PM
 
6,899 posts, read 6,580,268 times
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Quote:
Originally Posted by OhioIstheBest View Post
Maybe you should re-read your original post.

My original post doesn't have anything to do with Welfare. The question again is, with the extension of the tax cuts and the reduction in payroll taxes, we should begin to see a significant drop in unemployment by June 2011? The biggest claim by the right was, with the possibility of the expiration of the Bush Tax cuts, the Wealthiest (Employers) will not hire or retain jobs. Now that it appears that this package will pass, the wealthy/employers should begin hiring and we should begin to see a true drop in unemployment by second quater next year.
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Old 12-08-2010, 05:02 PM
 
66,447 posts, read 30,302,435 times
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Quote:
Originally Posted by blackandproud View Post
My original post doesn't have anything to do with Welfare. The question again is, with the extension of the tax cuts and the reduction in payroll taxes, we should begin to see a significant drop in unemployment by June 2011?
No. Read Obama's buddy Larry Summers. We won't see long-term unemployment rates drop until we end welfare payments and unemployment insurance.
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Old 12-08-2010, 05:05 PM
 
6,899 posts, read 6,580,268 times
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Originally Posted by InformedConsent View Post
No. Read Obama's buddy Larry Summers. We won't see long-term unemployment rates drop until we end welfare payments and unemployment insurance.

Your going by what Larry Summers is saying, but not recognizing the claims made by Boehner and the other Republicans. So which is it, is Larry right and the Republicans wrong?
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