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Thread: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    =Goldenboy219;1059123860]This is quite the heroic assumption. It requires the belief that proceeds in tax cuts are spent. Do you have any data that can show how much of Bush/Reagan tax cuts were spent? Secondly, it ignores human behavior; people who are in debt will pay down debt/increase savings with tax cut proceeds during periods of economic hardship.
    All of which help grow the economy and govt. revenue. increasing savings, investment capital all generate higher tax revenue as well as reducing demand for govt. help?



    Again, you cannot control yourself. Deflection is a sign of weakness.

    FWIW, the government received over $100 billion in TARP repayments this year, which will count against the deficit.

    Much of the TARP repayment was made in 2009 where did the money go? Fact is over 250 billion of the 500 billion in TARP has been repaid. Where is the other 200 billion authorized by Congress? Retire it!!

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by obvious Child View Post
    If it wasn't for AIG, we'd be on the track to showing significent profits from TARP. Not quite the return on the original Chrysler bailout in terms per dollar, but pretty sizable.
    TARP was a Bush program, not an Obama program. Obama took over GM and Chrysler leaving the bond holders holding the bag and helping to put suppliers out of business leaving them with accounts receivables that haven't been repaid. We haven't gotten our money back from GM/Chrysler and probably never will.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    GDP is broken down by catergory at BEA.gov.
    Oh Wow!

    The number of taxpayers didn't have to double to increase govt. revenue because of the trickle down effect, not only were there higher personal tax revenue but there was also higher exise and corporate income taxes.
    That is what you stated in your question, 1 tax payer paying 1 dollar, or two tax payers paying .5 dollars.

    More consumers spending money created higher personal income taxes on people who had money invested in the markets as well as higher corporate profit taxes and more people driving and purchasing driving up excise taxes. Tax cuts boost economic activity and that boosts govt. revenue, your is one of pure arithmetic which creates limited economic growth and thus doesn't create more taxpayers. How do you explain the 8.5 million jobs created between 2001 and May 2008? think that economic growth didn't help create those jobs?
    You are ignoring the fact that government spending increased quite dramatically during these times. Does that not stimulate growth?

    What people do with their own money is none of your concern, if they invest it, save it, spend it or pay down debt it helps the economy. Savings creates dividend income which is taxable as is investment income, spending creates demand and corporate profits, and paying down debt helps the individual need less govt. help.
    Saving money does not create jobs or growth in the short run. Maybe in the future, but tax cuts that are not spent do not lead to economic growth.
    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: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    TARP was a Bush program, not an Obama program.
    Correction (as you are wrong all of the time). TARP was passed under Bush, who spent roughly half with the remaining amount and the program passing to the Obama administration. Therefore, TARP is both a Bush and Obama program.

    Obama took over GM and Chrysler leaving the bond holders holding the bag and helping to put suppliers out of business leaving them with accounts receivables that haven't been repaid.
    Depends how you define "took over." Furthermore, the GM plan resembled the Ford plan where bond holders were left holding the bag. Furthermore, because of TARP, suppliers are still around. As you clearly again have not bothered to research or learn anything about the topics you are discussing, suppliers generally receive most of their income from one or two companies while selling small amounts to many. If GM and Chrysler went under at the same time as total net demand for vehicles in the US was declining, there would not be any firm to pick up their demand causing many suppliers to go under.

    Assuming what you want to be true because you are too lazy to actually do any of the leg work often results in you lying on the floor on your back while others laughing at you. Like now.

    We haven't gotten our money back from GM/Chrysler and probably never will.
    We are likely to make a profit on GM if dividends are declared over the period in which the government holds the stock. Chrysler is another thing entirely. Their success depends on the next models they bring out. Hard to say right now if they will repay or not.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Goldenboy219 View Post
    Oh Wow!



    That is what you stated in your question, 1 tax payer paying 1 dollar, or two tax payers paying .5 dollars.



    You are ignoring the fact that government spending increased quite dramatically during these times. Does that not stimulate growth?



    Saving money does not create jobs or growth in the short run. Maybe in the future, but tax cuts that are not spent do not lead to economic growth.
    One taxpayer paying $1 or two taxpayers paying .50(FIFTY CENTS) each, sorry, forgot who I was dealing with.

    in 2008 Consumption was over 10.1 trillion dollars out of a 14.3 trillion economy showing the power of the consumer and the benefits of higher take home pay thanks to the Bush tax cuts.

    Saving money reduces demand on govt. services but saving money does create interest or dividends which are taxable.

    You continue to spout the same rhetoric while ignoring the points made. You simply cannot admit that you are wrong and the points I have made are valid. Liberals always ignore posts that refute their rhetoric and make them look bad. Facts definitely make you look bad.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by obvious Child View Post
    Correction (as you are wrong all of the time). TARP was passed under Bush, who spent roughly half with the remaining amount and the program passing to the Obama administration. Therefore, TARP is both a Bush and Obama program.



    Depends how you define "took over." Furthermore, the GM plan resembled the Ford plan where bond holders were left holding the bag. Furthermore, because of TARP, suppliers are still around. As you clearly again have not bothered to research or learn anything about the topics you are discussing, suppliers generally receive most of their income from one or two companies while selling small amounts to many. If GM and Chrysler went under at the same time as total net demand for vehicles in the US was declining, there would not be any firm to pick up their demand causing many suppliers to go under.

    Assuming what you want to be true because you are too lazy to actually do any of the leg work often results in you lying on the floor on your back while others laughing at you. Like now.



    We are likely to make a profit on GM if dividends are declared over the period in which the government holds the stock. Chrysler is another thing entirely. Their success depends on the next models they bring out. Hard to say right now if they will repay or not.
    Bush signed TARP, 700 billion, Bush spent 350 billion of the money, Obama spent 150 billion and still has 200 billion to spend. Once again you are wrong.

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    Bush signed TARP, 700 billion, Bush spent 350 billion of the money, Obama spent 150 billion and still has 200 billion to spend. Once again you are wrong.
    Do you enjoy the taste of Wrong? You must since you seem to constantly eat it.

    Not counting the profits and returns on TARP, Obama spent all but $32 billion. And before you try some asinine argument, uncommitted is effectively spent as it is no longer available for any other use.

    GAO Says Geithner Wrong: Only $32.6B in Uncommitted TARP - George Stephanopoulos' Bottom Line

    I'd ask you to try again, but I know you're going to be wrong. As you always are.

    Btw, citing Obama spending money and taking control of TARP as proof that TARP isn't an Obama plan is pretty stupid. You just called me wrong...and then proved I was correct.
    Last edited by obvious Child; 11-26-10 at 10:35 PM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by obvious Child View Post
    Do you enjoy the taste of Wrong? You must since you seem to constantly eat it.

    Not counting the profits and returns on TARP, Obama spent all but $32 billion. And before you try some asinine argument, uncommitted is effectively spent as it is no longer available for any other use.

    GAO Says Geithner Wrong: Only $32.6B in Uncommitted TARP - George Stephanopoulos' Bottom Line

    I'd ask you to try again, but I know you're going to be wrong. As you always are.

    Btw, citing Obama spending money and taking control of TARP as proof that TARP isn't an Obama plan is pretty stupid. You just called me wrong...and then proved I was correct.
    Tracking the $700 Billion Bailout - The New York Times


    Still believing the Obama Administration I see

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    Tracking the $700 Billion Bailout - The New York Times


    Still believing the Obama Administration I see
    I guess once an Obama cult follower, always a cult follower. Your article is dated April 9
    Last edited by Conservative; 11-26-10 at 11:06 PM. Reason: spelling

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    Re: Obama Heralds 1.1M Private Sector Jobs Created Since Jan.

    Quote Originally Posted by Conservative View Post
    Tracking the $700 Billion Bailout - The New York Times


    Still believing the Obama Administration I see
    Still failing to do math I see? Your own link shows that only $80 billion wasn't spent. That $150 billion includes profits and returned money (as I noted earlier and as you failed as always). Since when did $80 billion = $200 billion?

    You really must enjoy the taste of fail. You so often post links disproving your own arguments.

    I guess once an Obama cult follower, always a cult follower. Your article is dated April 9
    Still refusing to look at actual data I see. Once a partisan, always a partisan.

    Again btw, citing Obama spending money and taking control of TARP as proof that TARP isn't an Obama plan is pretty stupid. You just called me wrong...and then proved I was correct.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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