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Larry Summers: Almost All Economists Believe More Taxes Fuels Job Growth
Business and Media Institute ^ | 2/10/10 | Anthony Kang

Posted on 02/11/2010 10:25:34 AM PST by 198ml

President Obama continuously tries to portray himself as a friend to the little-man, middle class and small business. Hence his attacks on “fat cats” who “just don’t get it,” while labeling the extravagant bonuses as “obscene,” and “the height of irresponsibility.”

Meanwhile, members of his administration, in defending a sweeping small-business aid program Obama announced in his State of the Union, give reason to wonder if they really understand how to help small business.

Among the administration’s proposals for small businesses are a $5,000 tax credit to hire new workers, elimination of capital gains taxes, and new incentives to invest in plants and equipment. At the same time, however, the administration plans to raise taxes on “the wealthiest Americans.”

(Excerpt) Read more at businessandmedia.org ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: capitalgains; stimulus
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1 posted on 02/11/2010 10:25:34 AM PST by 198ml
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To: 198ml

Yes, increasing taxes does fuel job growth - in the Government that is. The more taxes they take the more government jobs they create so that they can take more and more taxes.


2 posted on 02/11/2010 10:29:00 AM PST by SoldierDad (Proud Papa of two new Army Brats! Congrats to my Soldier son and his wife.)
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To: 198ml

Wow. So, in this bizzaro Obamanation, all one has to do is say it, and it’s fact? AGW causes blizzards?! Taxes grow jobs?!

Ok, I got one. Sending money to brownsfan will make your life better.


3 posted on 02/11/2010 10:29:06 AM PST by brownsfan (The average American: Uninformed, and unconcerned.)
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To: 198ml

Amost all in the O administration, that is!!!


4 posted on 02/11/2010 10:30:00 AM PST by Carley (Are you better off now than one year ago? HELL NO!!!!!)
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To: brownsfan

See ya and raise ya. Sending money to RightOnline will make your teeth sparkling white, give you the endurance of a triathlete, make you irresistible to the opposite sex, and improve your golf game dramatically.

Cash or money orders, please.


5 posted on 02/11/2010 10:31:59 AM PST by RightOnline
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To: RightOnline

“See ya and raise ya. Sending money to RightOnline will ...”

We’re in the wrong place for this. Over at the DU, we may actually get some donations.


6 posted on 02/11/2010 10:33:45 AM PST by brownsfan (The average American: Uninformed, and unconcerned.)
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To: 198ml

Let’s give Larry Summers, economic Genius, a real life economic test

Give him $5,000 and tell him to create a new job, and hire someone. Let’s give obama $5,000 and tell him to do the same thing.

Voila, 2 new jobs, 2 new taxpaying workers!


7 posted on 02/11/2010 10:37:57 AM PST by silverleaf (My Proposed Federal Budget is $29.99)
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To: brownsfan

Dang....you’re right. [slaps forehead]


8 posted on 02/11/2010 10:43:04 AM PST by RightOnline
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To: 198ml
"Almost All Economists Believe More Taxes Fuels Job Growth"

Almost All Economists are wrong.
9 posted on 02/11/2010 10:43:38 AM PST by FlyingFish
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To: FlyingFish

Naw. Ask this twit to define “almost all”. :)


10 posted on 02/11/2010 10:49:38 AM PST by RightOnline
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To: RightOnline

If higher cigarette taxes discourage smoking then what behavior do higher income taxes discourage?


11 posted on 02/11/2010 10:52:53 AM PST by massgopguy (I owe everything to George Bailey)
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To: silverleaf

Let me see if I understand the logic. I will get a 5000.00 tax
break if I hire someone. So if my business nets 100,000.00 for
me and I hire someone, that I probably don’t need, at a salary
of, lets say 20,000.00, the government will allow me a 5000.00
tax break. That means I will only have to pay me new hire about 15,000.00. That in turn means that my net income from my
business will be 85,000.00 rather than 100,000.00. Can someone help me out here, I’m not too good at math but it seems to me I’m taking a 15,000.00 Hit.


12 posted on 02/11/2010 10:55:48 AM PST by greyfox (If I were a Democrat I'd be pushing for the fairness doctrine too.)
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To: massgopguy

Add ‘gets rid of annoying and persistant pests’, and you’ve got a sale.


13 posted on 02/11/2010 10:56:02 AM PST by BenKenobi (;)
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To: 198ml

I am sometimes simply astounded by the stupidity and lack of common sense in the upper eschelon surrounding this president.


14 posted on 02/11/2010 10:56:30 AM PST by LibertarianLiz
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To: silverleaf
Let’s give Larry Summers, economic Genius, a real life economic test

Give him $5,000 and tell him to create a new job, and hire someone.

LOL...I love that!

It is simply amazing to me that these bumblers cannot see the stupidity of their action and statements. But then, of course, they have never had a real job...and, crikey, does it ever show.

15 posted on 02/11/2010 10:59:45 AM PST by SonOfDarkSkies (Luk 12:34 -- For where your treasure is, there will your heart be also.)
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To: LibertarianLiz
To all

Didn't Summers recently manage Harvard's investment portfolio and tank it ! He lost some enormous amount of money, so much so that he was encouraged to take this White House job.

16 posted on 02/11/2010 11:00:44 AM PST by Reily
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To: massgopguy

Paying bills.


17 posted on 02/11/2010 11:04:31 AM PST by RightOnline
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To: greyfox
That means I will only have to pay me new hire about 15,000.00. That in turn means that my net income from my business will be 85,000.00 rather than 100,000.00. Can someone help me out here, I’m not too good at math but it seems to me I’m taking a 15,000.00 Hit.

You also forgot to figure in Work Comp., Federal Unemployment, State Unemployment, Matching Social Security, Matching Medicare, plus all the tools necessary for the employee to perform the job like a desk, chair, computer, etc., plus the extra record-keeping for employee wage/benefits, additional time to make out forms 940, 941, W-3, W-2, W-4, and on and on and on.....

18 posted on 02/11/2010 11:09:23 AM PST by N. Theknow (Kennedys: Can't fly, can't ski, can't drive, can't skipper a boat, but they know what's best.)
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To: brownsfan
Over at the DU, we may actually get some donations.

Good luck with that. No one at DU has a job and the concept of donating anything is alien to them.

19 posted on 02/11/2010 11:13:01 AM PST by South Hawthorne (In Memory of my Dear Friend Henry Lee II)
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To: 198ml

Depends on the meaning of the word “all”.

“All Gore” claimed there was consensus on the myth of man-made glow-bull warming too.


20 posted on 02/11/2010 11:16:00 AM PST by a fool in paradise ("like it or not, we have to have a financial system that is healthy and functioning" Obama 2/4/2010)
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