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Thread: Unemployment dips to 8.9 pct., 192K jobs added

  1. #271
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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Conservative View Post
    Yes, as a result of TARP which was signed in October 2008 by Bush.
    Incorrect. TARP was a capital injection; credit easing involves monetary policy.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    the unemployment rate today effectually is almost certainly above 10%, the labor pool is near historic lows

    huge numbers of americans have simply given up

    can you imagine being a 55 year old unemployed office manager seeking work today

    if the eu crisis pushed us close to a double dip in '10...

    fwiw, a look at the december jobs report, attempting to explain how unemployment could fall from 9.8 to 9.4 with only 103,000 jobs added, insufficient even to keep up with population

    Furthermore, not only did the number of discouraged workers over job prospects hit a record high (since 1994, the earliest year the data is available) of just over 1.3 million (Fig. 1)--more than the number of jobs added in 2010--but the labor participation rate also hit at a 25-year low of 64.3% (Fig. 2).

    Most disturbingly, the average number of weeks people remain unemployed also has risen to 34.2 weeks in December vs. 33.9 weeks in November, with 6.4 million jobless people classified as long-term unemployed, i.e. without a job for 27+ weeks.

    All these suggest there is a large number of frustrated workers who left the labor pool but unaccounted for in the unemployment rate calculation. That means the all inclusive jobless rate could easily be 11% or more instead of the 9.4% flashing in headlines today.

    Overall, the latest employment report seems to reflect a painfully slow-recovering, but still confused labor market. Large corporations are hoarding cash reluctant to hire or invest fearing uncertainties ahead, while small business still strapped for cash and credit can’t afford to hire since business is still slow.

    Most economists estimate that in order to make a meaningful dent in the jobless situation while keeping up with the labor force growth rate, new job creation needs to be at around 300,000 a month going forward, which is a long way from where the economy is right now (Fig. 3).
    Number of Discouraged American Workers Hit Record High

  3. #273
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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Goldenboy219 View Post
    Prudential Financial just received a $15 million subsidy to upgrade their downtown Chicago office. It came in the form of reduction in taxes paid.

    They are both corporate welfare; a company relying on the public sector to pay for its health care liabilities. Do you support such actions?
    Great, reducing taxes paid means less govt. involvement in how that money is spent and thus less govt. overhead and more quality spending. Yes, I support lower taxes for individuals and companies.

  4. #274
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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Goldenboy219 View Post
    Incorrect. TARP was a capital injection; credit easing involves monetary policy.
    Yes, and your point? I asked how Obama prevented a great depression when economists credit TARP?

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Conservative View Post
    Great, reducing taxes paid means less govt. involvement in how that money is spent and thus less govt. overhead and more quality spending. Yes, I support lower taxes for individuals and companies.
    So in your world corporate welfare does not exist?

    You should also support a family of 4 making $50,000 a year not having any tax liabilities.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Conservative View Post
    Yes, and your point? I asked how Obama prevented a great depression when economists credit TARP?
    Again, economists credit Federal Reserve monetary easing policies first and foremost. An overwhelming majority of right wing economists were and are against TARP.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  7. #277
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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Conservative View Post
    What do local and state taxes have to do with the cuts in Federal income Taxes? Trying to weasil out of the absurd comments you made? The Bush tax cuts were for Income taxes and that is what you claimed was in the trillions for the rich. Try to stay on track instead of diverting. You are wrong and just cannot admit it.
    I thought you would avoid this: "please explain how you would suggest adding additional taxes to a family of 4, trying to live on $22,000 a year?

    And then square that with the $91,000 tax cut on average that each of those making over 1 million dollars have been enjoying for years."
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by donc View Post
    It seems that you are overlooking a few things conservative. The “47% of the income earners” that you say pay no tax. Maybe not income taxes but when all the tax that they pay is added up, I would imagine it would come out that overall their tax bill would be comparable.

    Considering that they pay a higher percentage of their income on gas tax, a higher percentage of their income on property tax, pay a higher percentage of their income on sales tax, pay a higher percentage of their income on tolls (where there are tolls). a higher percentage of their income on Social Security tax and a higher percentage of their income on Medicare tax.

    When all is added up, it would be a pretty safe bet that they might even pay a higher percentage of their income in taxes than the top percent.
    Let me just point to one of the items you mention. The average homeowner in the town I live in pays 9% of their income on property taxes. The median home is moderate about 350K. How many people who pay no federal income tax can afford a home like that? If they broke out the statistics, you would find most of those who pay no tax rent, thus property taxes are well below the norm.

    Also, a lot of the taxes you point to are state or local. So even had you been correct it would be meaningless to the debate of federal taxation.

    Honest debate is fun, this gottya type stuff less so, getting boring.

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Goldenboy219 View Post
    So in your world corporate welfare does not exist?

    You should also support a family of 4 making $50,000 a year not having any tax liabilities.
    I don't call keeping more of what you earn welfare, why do you?

    As for families making 50,000 a year since they don't work for me why should I support them? You must love sending your money to the govt. so they can redistribute it after overhead as they see fit. Why don't you do that with your entire paycheck?

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    Re: Unemployment dips to 8.9 pct., 192K jobs added

    Quote Originally Posted by Goldenboy219 View Post
    Again, economists credit Federal Reserve monetary easing policies first and foremost. An overwhelming majority of right wing economists were and are against TARP.
    I was against TARP but then again that isn't the issue, the issue is what did Obama do that kept us out of another depression which he claims he prevented especially since the easing of monetary policies was begun in late 2007. keep dodging.

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