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.
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