Skip to comments.Larry Summers: Almost All Economists Believe More Taxes Fuels Job Growth
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 dont 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 administrations 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 ...
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.
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.
Amost all in the O administration, that is!!!
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.
“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.
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!
Dang....you’re right. [slaps forehead]
Naw. Ask this twit to define “almost all”. :)
If higher cigarette taxes discourage smoking then what behavior do higher income taxes discourage?
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.
Add ‘gets rid of annoying and persistant pests’, and you’ve got a sale.
I am sometimes simply astounded by the stupidity and lack of common sense in the upper eschelon surrounding this president.
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.
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.
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.....
Good luck with that. No one at DU has a job and the concept of donating anything is alien to them.
Depends on the meaning of the word “all”.
“All Gore” claimed there was consensus on the myth of man-made glow-bull warming too.
Newsflash: Almost all economists were wrong about the coming crash in housing, in finance, and in in the economy.
Newsflash: Almost all economists were wrong so why believe the lieing dogs now?
It is BLACK LETTER ECONOMICS - Higher Taxes is INFLATIONARY, and massively anti-growth.
It is proven. It is fact. There is no dispute, except from the morally bankrupt.
Yeah, and higher taxes also prevent global warming. Folks like Summers believe the public will swallow anything.
I suppose these are the same economists that keep saying, “but on the other hand.” I guess that “almost all” of them have about 38 sets of hands. These people would lose money running a business selling five dollar bills for $10. Absolutely inept, incompetent, unfit to serve, arrogant, out of touch, (somebody finish this sentence; I don’t have enough words)...
In related news, smoking helps lung health.
You can’t hire if your business isn’t GROWING!
“Larry Summers: Almost All Economists Believe More Taxes Fuels Job Growth”
I never spent one day in college and I find that statement to be utter bull$^it.
Who is the real Former Federal Reserve Vice Chairman Alan Blinder, Economic Expert #1, or Economic Expert #2?
Transcript of Pelosi, House Democratic Leaders, and Economists Press Conference Following Economic Forum 10/21/2009
Economic Expert #1. Alan Blinder 10/21/2009
“So for that reason, despite the fact that were looking at an absolutely horrendous long-term fiscal outlook,”
Wall St. Journal : The Case for Optimism on the Economy 12/16/2009 | Alan Blinder
Economic Expert #2. Alan Blinder, 12/16/2009
“Let me offer instead, in deliberately one-sided fashion, the case for optimism.”
So the debate is over; the science is settled.
Those blue lines of GDP growth from 2000 to mid-2008.....
is that...could it be.... “the lost decade” obama keeps bleating about?????
OMG, how exciting! You found the “lost decade of profligacy”! You are an economics Indiana Jones!
This entire administration is just all over the place.
Summers, amazingly, wanted to invest 100% of the universitys cash in the endowment, and had to be talked down to investing a mere 80%. No wonder Meyer and El-Erian tried to talk him out of it: the Harvard endowment was never designed as a place to invest sums of cash which might be needed immediately. Instead, its designed to invest for the very long term, taking advantage of the higher returns on illiquid investments. Summers was playing a high-risk carry-trade game with Harvards cash:The aggressive investment of cash accounts is part of how the university has long run its central bank, an account that holds funds from its various schools and pays them a modest US Treasury rate of return. The bank, in turn, has invested the lions share of that money with the endowment, generating returns that are used to pay for shared needs, like graduate housing and financial aid.No one had the stones to stand up to Summers when it came to this high-risk strategy of essentially borrowing at Treasury rates and investing the proceeds in an illiquid long-term endowment certainly not James Rothenberg, Harvards part-time, unpaid, California-based treasurer.
The blue lines of GDP growth from 2000 to mid-2008 also pre-dates the 110th United States Congress, why is there no growth after a Democrat Majority?
Actually, the DJIA has the last word in such matters.
Not one of these intelligent idiots ever ran a company in the private sector. a##wipes all of them, spoon fed, college idiots with no job experience!
Check out the video too yall...it’s priceless
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