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Thread: Jobless Rate Rises to 9.8 Percent, Highest Since April(edited)

  1. #61
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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by PeteEU View Post
    So more came to the work market than left.. big woopie. It is just a statistical issue and of course for the right a political "issue", but in reality it means nothing because the US unemployment numbers are flawed.
    This is true. The way unemployment numbers are calculated by the US government is somewhat misleading. It's more a measure of how difficult it is to find a job at any given moment, rather than how many people are out of work at any given moment.
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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Conservative View Post
    The Republicans haven't been in charge of legislation since January 2007 but unlike you I don't look for a political party to save me, as I expect to do that myself.
    We've been trending downwards for more than 3 years. There have been several cycles of Republican/Democrat control all with the same end results. Awesome use of hyperbole and propaganda though.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Goldenboy219 View Post
    What are you 7? Your comment was incorrect both in terms of arithmetic and financial reality.
    Nope, actually it was correct on both counts.

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Whovian View Post
    Which of Obama's policies, specifically, do you believe is incenting private sector job growth?
    Stimulus spending, low taxes, fiscal assistance to the states, and (not really an Obama policy as much as a Fed policy) easy access to capital. Additionally, he has not seriously pursued any policies that would hinder the labor market like card check, as many feared he would.
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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Goldenboy219 View Post
    Another reading comprehension error. The stimulus consisting of both tax cuts and spending is causing unemployment to rise? Care to source which employment cost increases have surfaced as a result of Obamacare?
    Another typical liberal bit of bs and diversion from the facts. Uncertainty always affects job creation as do potential rising costs. Obviously you have never hired an employee, trained an employee, and then ultimately had to get rid of an employee.

    I have posted those so called Obama tax cuts which of course you ignored. They were rebate checks that once gone were gone with the rest targeted with strings attached. Anytime the govt. tells people how to spend their own money the results are a disaster. I'll bet you didn't find that with your nose buried into an economics book.

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Goldenboy219 View Post
    Care to source which employment cost increases have surfaced as a result of Obamacare?
    Insurance Regulators Approve Increases Based on Obamacare
    In Connecticut, insurance rate regulators have approved hikes in insurance premiums of up to 20 percent, agreeing with insurers that Obamacare increased their costs. Some people will now pay thousands of dollars a year more as a result.
    unless of course you think this will not affect corporations, just individuals.


    Citing health overhaul, AARP hikes employee costs
    AARP's endorsement helped secure passage of President Barack Obama's health care overhaul. Now the seniors' lobby is telling its employees their insurance costs will rise partly as a result of the law.
    Last edited by Whovian; 12-03-10 at 02:33 PM.

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Kandahar View Post
    Stimulus spending, low taxes, fiscal assistance to the states, and (not really an Obama policy as much as a Fed policy) easy access to capital. Additionally, he has not seriously pursued any policies that would hinder the labor market like card check, as many feared he would.
    Whose taxes were lowered due to Obama? What fiscal assistence to the states? Easy access to capital doesn't do any good when the consumer doesn't have any money to spend. The results speak for themselves yet you ignore the results.

    Compare the two tax cuts and tell me which ones affected the economy most

    Tax cuts

    Obama Tax cuts

    Total: $288 billion

    [edit] Tax cuts for individuals

    Total: $237 billion
    • $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    • $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    • $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    • $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    • $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    • $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    • $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
    • $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    • $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
    Bush Tax cuts

    Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Kandahar View Post
    So just to make sure I understand you correctly, you are a huge fan of Keynesian economics...you just think the money could have been better allocated?



    Long-term issue, wholly unrelated to current unemployment numbers.


    I am not a Keynesian economics supporter, I am a total free enterprise supporter and yes the money could have been "allocated" better. Reagan didn't spend that kind of money nor did Bush with their tax cuts. neither did JFK who by the way has quite a few good quotes on taxes

    John F. Kennedy on taxes

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Kandahar View Post
    This is true. The way unemployment numbers are calculated by the US government is somewhat misleading. It's more a measure of how difficult it is to find a job at any given moment, rather than how many people are out of work at any given moment.
    Right, the true number of unemployed is much, much higher.

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    Re: Unemployment rate hits 9.8%. Hope and Change?

    Quote Originally Posted by Conservative View Post
    Whose taxes were lowered due to Obama?
    American Recovery and Reinvestment Act.

    Quote Originally Posted by Conservative
    What fiscal assistence to the states?
    American Recovery and Reinvestment Act.

    Quote Originally Posted by Conservative
    Easy access to capital doesn't do any good when the consumer doesn't have any money to spend.
    Uhh that's the problem that easy money attempts to SOLVE.

    Quote Originally Posted by Conservative
    The results speak for themselves yet you ignore the results.
    The fact that you seem wholly oblivious to the policies that Obama has actually enacted (as opposed to political rhetoric) is not my fault.

    Quote Originally Posted by Conesrvative
    Compare the two tax cuts and tell me which ones affected the economy most

    Tax cuts

    Obama Tax cuts
    If you had a list of taxes he cut, then why did you ask me whose taxes were cut?

    Quote Originally Posted by Conservative
    Total: $288 billion

    [edit] Tax cuts for individuals

    Total: $237 billion
    • $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    • $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    • $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    • $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    • $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    • $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    • $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
    • $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    • $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
    Bush Tax cuts

    Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.
    I would assume that the Bush tax cuts affected the economy more, since they were larger. They also lasted for a much longer period of time than was necessary to stimulate the economy during a recession, and unnecessarily added to the deficit during good economic times.
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