Tax Increases Could Contribute to 700K Job Loss (unemployment, wages, salary)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Study: High-end tax increases would cost 700K jobs, reduce wages
The study from Ernst & Young found that letting tax rates for the wealthiest Americans lapse would sap $200 billion and some 700,000 jobs out of the economy, reduce wages by 1.8 percent and lead to a decrease in investment.
Yep, good policy for sure! Not! guess envy is more important than job creation....
Data from labor statsitics show that unemployment consistently under 6% in US from 2002 to 2008. I would call that pretty good. Huum, over 8% for the last 3 years. Problem is, you can't use one point estimate to tell a story like your trying to do.
Tax cuts allow people to keep more of their money and invest, and those who work hard can get a job. Show me where stimulus provide permanent jobs? People getting to keep their money may/may not create jobs, but I would rather an innovator with good ideas be allowed to try than giving to the Govt to try...
GOP Supercommittee Member Admits Bush Tax Cuts Didn't Create Jobs, Can't Explain Why | ThinkProgress As Center for American Progress Director of Tax and Budget Policy Michael Linden found, “in the past 60 years, job growth has actually been greater in years when the top income tax rate was much higher than it is now.” In fact, “if you ranked each year since 1950 by overall job growth, the top five years would all boast marginal tax rates at 70 percent or higher.” The GOP, as Upton displays, simply has no explanation for these facts.
Do Tax Cuts Create Jobs? - Forbes It’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.
Ernst & Young, doing the 1% Shuffle---dance, monkeys, dance!
lol ... exactly.
Ernst & Young’s Robert Caroll and Gerald Prante wrote in the report for the Independent Community Bankers of America, the National Federation of Independent Business, the S Corporation Association and the U.S. Chamber of Commerce.
Study: High-end tax increases would cost 700K jobs, reduce wages
The study from Ernst & Young found that letting tax rates for the wealthiest Americans lapse would sap $200 billion and some 700,000 jobs out of the economy, reduce wages by 1.8 percent and lead to a decrease in investment.
No kidding. Why do you think I said the FICA tax holiday was stupid? Because, when it ends, you're going to lose jobs. When the Obama Tax Cuts expire, you're going to lose jobs. When you eliminate the wage/salary cap to you can fund Social Security and Medicare, you're going to lose jobs. When you raise the FICA and SECA tax rates, you're going to lose jobs.
Did you read the report from UMass? You will lose 2.5 Million jobs over the next 10 years, due to budget cuts at the federal level.
And those budget cuts, they're nothing. They aren't even really budget cuts. Increasing the Education's budget by 17% and then reducing the 17% increase to 10% is not a budget cut -- it's a 10% percent increase.
The *******s have yet to figure out that there is no such thing as a Money Fairy.
Budgeting...
Mircea
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
