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November 21, 2009, 12:59:58 AM
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Author Topic: Unemployment Tops 10 Percent  (Read 185 times)
tennman
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« on: November 06, 2009, 12:14:39 PM »
Unemployment Tops 10 Percent

Just hours after the government announced that the jobless rate topped 10 percent for the time since 1983, President Obama signed new legislation to provide additional unemployment benefits to Americans thrown out of work.

At a news briefing in the White House Rose Garden on Friday, Obama said the sobering national unemployment numbers are regretful, and pledged to work hard to restore the struggling economy.

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Obama, get off the golf course and lower the tax burden on businesses so that they can hire! Since the jobless rate continues to climb fewer people will have the money or job security to spend on the products businesses make so businesses won't get the money that way. Lower the tax rate on them! It's already the SECOND highest tax rate in the world! Lower it so they will have the money to hire more people or at least keep people on so that maybe we can stop this every-growing loss of jobs!
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BAH-BLAH
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« Reply #1 on: November 06, 2009, 01:48:59 PM »
Thats bad news.
Not the unemployment figure.....the fact Obama is gonna work harder
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« Reply #1 on: November 06, 2009, 01:48:59 PM »
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chestnutbrowncanary
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« Reply #2 on: November 06, 2009, 03:41:59 PM »
Quote from: tennman on November 06, 2009, 12:14:39 PM
Obama, get off the golf course and lower the tax burden on businesses so that they can hire!

They're paying George W. Bush rates now; why are you complaining?

Lowering rates for business doesn't do anything if people aren't buying now; you're better off injecting more federal money into the economy.

As Bruce Bartlett, conservative, put it:

Quote
It continues to amaze me that no one on the left or right seems to have noticed that the essential factor causing the economic downturn is a decline in velocity: the number of times that money turns over in the economy, which is measured as the ratio of the money supply to GDP. In 2006 and 2007 this ratio was 1.9. I take that as normal. In 2008, velocity fell to 1.76 and currently is 1.69. (I divided end of year M2 into 4th quarter GDP; the latest figure is 2nd quarter GDP divided by end of June money supply.)

If velocity were 1.9 instead of 1.69, 2nd quarter GDP would have been $1.6 trillion higher. Therefore, no recession. The output gap would have simply disappeared. From this I conclude that a lack of spending in the economy is the central problem and the only policies that will help are those that increase spending - consumer spending, investment spending, net exports or government spending. How tax cuts would have helped - or at least the type of tax cuts advocated by Republicans - is a mystery to me.
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BondServant
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« Reply #3 on: November 06, 2009, 03:47:23 PM »
But Obama pumped TONS of money into the economy...it has not helped.

Here is what helps...tax cuts for individuals...and not by giving us $13 a week...that is not even enough to take my family out to dinner.

Give taxpayers a one time, lump sum rebate and they will spend it.  That will give the economy a shot in the arm.  It worked when Bush did it.  If Obama does it, it will work again.

In Christ,
KP
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« Reply #3 on: November 06, 2009, 03:47:23 PM »
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chestnutbrowncanary
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« Reply #4 on: November 06, 2009, 04:10:45 PM »
Quote from: k-pappy on November 06, 2009, 03:47:23 PM
Give taxpayers a one time, lump sum rebate and they will spend it.

How you intend to pay for it, genius? (See below) Refundable credits? Blow up the deficit further?

Will they spend it?  Probably not; a large number of families nationwide are heavily leveraged; they're afraid of destitution.  In this economy, they'll likely use to pay down debt or hold in reserve.

Like your wife would make you do if you got one.
« Last Edit: November 06, 2009, 05:23:59 PM by chestnutbrowncanary » Logged
Jaime
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« Reply #5 on: November 06, 2009, 04:21:58 PM »
Obviously we need more rich people to tax! You know the ones that create the jobs!  Doh!
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« Reply #5 on: November 06, 2009, 04:21:58 PM »
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chestnutbrowncanary
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« Reply #6 on: November 06, 2009, 04:26:08 PM »
Quote from: Jaime on November 06, 2009, 04:21:58 PM
Obviously we need more rich people to tax! You know the ones that create the jobs!

Well, they're not creating them here on George W. Bush tax rates, and the ones they do create all seem to be cheap ones overseas.

Heaven help us if we were under socialistic Ronald Reagan tax rates.
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Jaime
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« Reply #7 on: November 06, 2009, 04:30:20 PM »
Quote from: chestnutbrowncanary on November 06, 2009, 04:26:08 PM
Quote from: Jaime on November 06, 2009, 04:21:58 PM
Obviously we need more rich people to tax! You know the ones that create the jobs!

Well, they're not creating them here on George W. Bush tax rates, and the ones they do create all seem to be cheap ones overseas.

Heaven help us if we were under socialistic Ronald Reagan tax rates.

Yeah it would be a tragedy to create 20 million new jobs in the private sector (as Reagan did), in lieu of creating burden on the private sector.

Before you go there, the Reagan deficits were caused by the overspending Democrat congress. Not tax cuts that increased revenues during his terms.
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Proverbs 3: 5-6  Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge Him and He will make your paths straight.

                                          
CLICK HERE ---->My New Blog
BondServant
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« Reply #8 on: November 06, 2009, 04:38:57 PM »
Quote from: chestnutbrowncanary on November 06, 2009, 04:10:45 PM
Quote from: k-pappy on November 06, 2009, 03:47:23 PM
Give taxpayers a one time, lump sum rebate and they will spend it.

How you intend to pay for it, genius? Refundable credits? Blow up the deficit further?

Will they spend it?  Probably not; a large number of families nationwide are heavily leveraged; they're afraid of destitution.  In this economy, they'll likely use to pay down debt or hold in reserve.

Like your wife would make you do if you got one.

Once again, you have crossed the line.  Keep going and you will be banned.
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My prayer is not for them alone.  I pray also for those who will believe in me through their message, that all of them may be one...  -- John 17:20-21

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chestnutbrowncanary
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« Reply #9 on: November 06, 2009, 05:28:14 PM »
Quote from: Jaime on November 06, 2009, 04:30:20 PM
Before you go there, the Reagan deficits were caused by the overspending Democrat congress. Not tax cuts that increased revenues during his terms.

It took two to tango, and the Reagan Administration certainly thought deficit spending (spending at current levels, just not with previous revenues) was acceptable. As did both Bush Administrations.  Republicans seem only to be unhappy about deficits when they're not creating them.
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« Reply #9 on: November 06, 2009, 05:28:14 PM »
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Jaime
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« Reply #10 on: November 06, 2009, 06:44:27 PM »
My point was that tax revenues went up dramatically under Reagan, as did the job creation in the PRIVATE sector. Increased revenues don't contribute to deficits, spending does.

Rich entrepreneurs CREATE jobs and employ people. Government just shifts money around and MAKES temporary work while penalizing the private sector job engine. Government spending is not how we need to materialize jobs.
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Proverbs 3: 5-6  Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge Him and He will make your paths straight.

                                          
CLICK HERE ---->My New Blog
chestnutbrowncanary
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« Reply #11 on: November 06, 2009, 07:14:49 PM »
Quote from: Jaime on November 06, 2009, 06:44:27 PM
My point was that tax revenues went up dramatically under Reagan...

Not really.  Reagan cut taxes in 1981.  For the years 1981-1984, tax revenue from individual taxpayers (in billions) was 286, 298, 289 and 298.  There was a total of 12 billion dollars of difference between the lowest total revenue collection and the highest point of revenue collection. 4% total? Then the Reagan tax increases start in 1984.
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« Reply #12 on: November 06, 2009, 08:06:45 PM »
 What is it? Obamaities can not say Obama does anything wrong without saying " Well somebody else did this fifteen hundred years ago." Admit it Obama is a failure, and he does it all on his own.
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« Reply #12 on: November 06, 2009, 08:06:45 PM »
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Jaime
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« Reply #13 on: November 06, 2009, 08:16:08 PM »
Chestnut Reagan CUT tax rates and didn't increase tax rates, thus increasing revenue. His tax rate cuts spurred the massive growth of jobs after the malaise of Carter (whom Obama is trying to copy. And another Reagan will have to straighten out with free market policies, and low tax rates.
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Proverbs 3: 5-6  Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge Him and He will make your paths straight.

                                          
CLICK HERE ---->My New Blog
Mac
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« Reply #14 on: November 06, 2009, 08:20:59 PM »
Quote from: Jaime on November 06, 2009, 08:16:08 PM
Chestnut Reagan CUT tax rates and didn't increase tax rates, thus increasing revenue. His tax rate cuts spurred the massive growth of jobs after the malaise of Carter (whom Obama is trying to copy. And another Reagan will have to straighten out with free market policies, and low tax rates.

Yep...
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Mac
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