Tax Cuts Create Jobs...

[kalm]

When the tax cuts are on the middle class. The rich? Not so much.

Trickle down economics doesn't stimulate the economy?



Zombie Reagan…still fucking over the middle class 30 years later.

The study from Owen Zidar, a professor at the University of Chicago Booth School of Business, found that tax cuts aimed at the top 10 percent of earners produce little stimulative effect on the overall economy. On the other hand, those aimed at the bottom 90 percent have a greater impact.

Zidar examined the short- to medium-term impact of tax changes at the state and federal levels going back to 1948. On the national level, he found a 1 percent gross domestic product (GDP) tax cut aimed at the bottom 90 percent translates to job growth of 2 to 5 percent, but the impact of a similar cut on the top 10 percent of earners has a negligible effect. He reached similar conclusions on the state level: Tax decreases for most of the population generated 5 percent employment growth, but yielded little change when applied to the top income bracket.

Tax hikes produce similar effects, the paper says. When applied to the rich, they’re insignificant. But when applied to the rest of the population, they have a negative effect on economic activity.

http://www.ibtimes.com/tax-cuts-poor-mi ... ws-1892251" onclick="window.open(this.href);return false;

[Baldy]

When the tax cuts are on the middle class. The rich? Not so much.

Trickle down economics doesn't stimulate the economy?



Zombie Reagan…still fucking over the middle class 30 years later.

The study from Owen Zidar, a professor at the University of Chicago Booth School of Business, found that tax cuts aimed at the top 10 percent of earners produce little stimulative effect on the overall economy. On the other hand, those aimed at the bottom 90 percent have a greater impact.

Zidar examined the short- to medium-term impact of tax changes at the state and federal levels going back to 1948. On the national level, he found a 1 percent gross domestic product (GDP) tax cut aimed at the bottom 90 percent translates to job growth of 2 to 5 percent, but the impact of a similar cut on the top 10 percent of earners has a negligible effect. He reached similar conclusions on the state level: Tax decreases for most of the population generated 5 percent employment growth, but yielded little change when applied to the top income bracket.

Tax hikes produce similar effects, the paper says. When applied to the rich, they’re insignificant. But when applied to the rest of the population, they have a negative effect on economic activity.

http://www.ibtimes.com/tax-cuts-poor-mi ... ws-1892251" onclick="window.open(this.href);return false;

Obamabot, Income Inequality maven, never met a tax he didn't like, Organizing for Action puppet, a perfect "tax the rich so they pay their fair share" kinda guy, Agenda Economist.

Excuse me while I

[kalm]

When the tax cuts are on the middle class. The rich? Not so much.

Trickle down economics doesn't stimulate the economy?



Zombie Reagan…still fucking over the middle class 30 years later.



http://www.ibtimes.com/tax-cuts-poor-mi ... ws-1892251" onclick="window.open(this.href);return false;

Obamabot, Income Inequality maven, never met a tax he didn't like, Organizing for Action puppet, a perfect "tax the rich so they pay their fair share" kinda guy, Agenda Economist.

Excuse me while I

Did you write his bio?

Or did his findings hurt your feelings?

[Chizzang]

Imagine if we had just an equal % taxation system...
If we ever got even close to that we'd stimulate the sh!t out of the economy



I know that sounds crazy...

[CID1990]

Imagine if we had just an equal % taxation system...
If we ever got even close to that we'd stimulate the sh!t out of the economy



I know that sounds crazy...

What you are proposing is a flat tax there, Mr. Forbes

But if everybody paid 30% that would be a net loss for our multitrillion annual operating costs and we cannot have that

so back to the country club with you, Clay

[Baldy]

Obamabot, Income Inequality maven, never met a tax he didn't like, Organizing for Action puppet, a perfect "tax the rich so they pay their fair share" kinda guy, Agenda Economist.

Excuse me while I

Did you write his bio?

Or did his findings hurt your feelings?

I only described his bio.

What he wrote was basically satire...kinda like "The Interview".
What hurt my feelings was the "The Interview" was lots more funny...and probably lots more accurate too.

BTW, he's a BIG TPP proponent as well. Does that hurt your feelings?

[Chizzang]

Imagine if we had just an equal % taxation system...
If we ever got even close to that we'd stimulate the sh!t out of the economy



I know that sounds crazy...

What you are proposing is a flat tax there, Mr. Forbes

But if everybody paid 30% that would be a net loss for our multitrillion annual operating costs and we cannot have that

so back to the country club with you, Clay

You have been hilarious lately

The general rule should be:
Create a unanimously fair taxation system
then let (force) the Federal Government to function within the limits of THAT system

Not the other way around...



And I do not golf
I have other hobbies such as Chess / Guitar / Biological Research / The Bellevue Math Club

[CID1990]

What you are proposing is a flat tax there, Mr. Forbes

But if everybody paid 30% that would be a net loss for our multitrillion annual operating costs and we cannot have that

so back to the country club with you, Clay

You have been hilarious lately

The general rule should be:
Create a unanimously fair taxation system
then let (force) the Federal Government to function within the limits of THAT system

Not the other way around...



And I do not golf
I have other hobbies such as Chess / Guitar / Biological Research / The Bellevue Math Club

I'm right there with you on tax policy

I also wish I could travel to Mars

My Mars trip is less of a fantasy

[CID1990]

BTW those are my hobbies too- except sub the sax and pipes for the guitar, and I haven't had access to a math club in years

But I highly recommend golf- it is like sex- you don't have to be good at it to enjoy it

And you get to dress like a black pimp

[Chizzang]

BTW those are my hobbies too- except sub the sax and pipes for the guitar, and I haven't had access to a math club in years

But I highly recommend golf- it is like sex- you don't have to be good at it to enjoy it

And you get to dress like a black pimp

I despise everything that Golf is and stands for...
My brother belongs to this fancy country club here in Seattle
Its a regular who's who of criminals and thieves (Lawyers and Politicians)

Anything that is endorsed by that type of organization is of no interest to me...

Me and my old man used to golf when he was in the Army
He'd drag me to municipal courses - it was a blast - but Golf has changed - F*ck Golf

Mountain Biking and Skiing and Hiking and SCUBA are my "sports"

[kalm]

BTW those are my hobbies too- except sub the sax and pipes for the guitar, and I haven't had access to a math club in years

But I highly recommend golf- it is like sex- you don't have to be good at it to enjoy it

And you get to dress like a black pimp

I despise everything that Golf is and stands for...
My brother belongs to this fancy country club here in Seattle
Its a regular who's who of criminals and thieves (Lawyers and Politicians)

Anything that is endorsed by that type of organization is of no interest to me...

Me and my old man used to golf when he was in the Army
He'd drag me to municipal courses - it was a blast - but Golf has changed - F*ck Golf

Mountain Biking and Skiing and Hiking and SCUBA are my "sports"

Golf's image, and failure to let go of tradition, not to mention how overbuilt it became during the real estate boom of the 90's has the industry completely in the tank. A golf course closes in America every 48 hours.

[kalm]

Did you write his bio?

Or did his findings hurt your feelings?

I only described his bio.

What he wrote was basically satire...kinda like "The Interview".
What hurt my feelings was the "The Interview" was lots more funny...and probably lots more accurate too.

BTW, he's a BIG TPP proponent as well. Does that hurt your feelings?

No. I take each issue independantly. On that one he's wrong.

I wonder if he was commie bastard when he was an analyst for Bain.

[Col Hogan]

Kansas is proof that tax cuts create jobs...

This week, Investor’s Business Daily (IBD) ran an editorial declaring that the tax cut Kansas Governor Sam Brownback and the state legislature passed in 2012 “is working.” Newly released data from the U.S. Bureau of Labor Statistics show that Kansas and Utah are tied for first when it comes to state job growth estimates.
Here are the highlights from the report:

For the first two months of the year, Kansas increased its non-farm jobs by 9,500 and the private sector added 9,000 jobs for March.
In a state-to-state comparison, Kansas placed 2nd in private-sector jobs growth in February.
Private-sector jobs from February 2014 to February 2015 grew by 21,200 — one of the most significant increases in the country.
Kansas surpassed all neighboring states except Colorado in private job gains over the year.
forbes1
In private-sector hourly wages, Kansas beat all neighboring states except Nebraska.
Private-sector hourly wage estimates for January were revised upward, showing that Kansas gained 3.4% rather than 3.2% in hourly pay.
In month of February, Kansas hit a new record in hourly wage gains of 61 cents an hour.
Kansans are making an average of $25.52 more each week, while only having to work an average of 12 minutes longer.”
Compared to February last year, Kansas City, Kansas’s private sector average hourly wages were higher than in Kansas City, Missouri by 55 cents.
Unrelated to February data, Kansas has one of the highest employment-to-population ratios in the U.S., at 65.2%.

http://www.forbes.com/sites/rexsinquefi ... ous-state/" onclick="window.open(this.href);return false;

[AZGrizFan]

BTW those are my hobbies too- except sub the sax and pipes for the guitar, and I haven't had access to a math club in years

But I highly recommend golf- it is like sex- you don't have to be good at it to enjoy it

And you get to dress like a black pimp

I despise everything that Golf is and stands for...
My brother belongs to this fancy country club here in Seattle
Its a regular who's who of criminals and thieves (Lawyers and Politicians)

Whew. Dodged a bullet there....

[kalm]

Kansas is proof that tax cuts create jobs...

This week, Investor’s Business Daily (IBD) ran an editorial declaring that the tax cut Kansas Governor Sam Brownback and the state legislature passed in 2012 “is working.” Newly released data from the U.S. Bureau of Labor Statistics show that Kansas and Utah are tied for first when it comes to state job growth estimates.
Here are the highlights from the report:

For the first two months of the year, Kansas increased its non-farm jobs by 9,500 and the private sector added 9,000 jobs for March.
In a state-to-state comparison, Kansas placed 2nd in private-sector jobs growth in February.
Private-sector jobs from February 2014 to February 2015 grew by 21,200 — one of the most significant increases in the country.
Kansas surpassed all neighboring states except Colorado in private job gains over the year.
forbes1
In private-sector hourly wages, Kansas beat all neighboring states except Nebraska.
Private-sector hourly wage estimates for January were revised upward, showing that Kansas gained 3.4% rather than 3.2% in hourly pay.
In month of February, Kansas hit a new record in hourly wage gains of 61 cents an hour.
Kansans are making an average of $25.52 more each week, while only having to work an average of 12 minutes longer.”
Compared to February last year, Kansas City, Kansas’s private sector average hourly wages were higher than in Kansas City, Missouri by 55 cents.
Unrelated to February data, Kansas has one of the highest employment-to-population ratios in the U.S., at 65.2%.

http://www.forbes.com/sites/rexsinquefi ... ous-state/" onclick="window.open(this.href);return false;

I think the appropriate response here would be "meh. Kansas has the GDP of Iceland. Doesn't apply to larger economies."

(Did I play that right, 89hen? )

If they can sustain wage growth and balance the budget without destroying education and infrastructure spending while cutting high end taxes, that's a great thing.

I'm open to opposing views and will acknowledge their success.

Hell, I'll even admit when I'm wrong.

I'm not a conk.

[kalm]

Kansas is proof that tax cuts create jobs...

This week, Investor’s Business Daily (IBD) ran an editorial declaring that the tax cut Kansas Governor Sam Brownback and the state legislature passed in 2012 “is working.” Newly released data from the U.S. Bureau of Labor Statistics show that Kansas and Utah are tied for first when it comes to state job growth estimates.
Here are the highlights from the report:

For the first two months of the year, Kansas increased its non-farm jobs by 9,500 and the private sector added 9,000 jobs for March.
In a state-to-state comparison, Kansas placed 2nd in private-sector jobs growth in February.
Private-sector jobs from February 2014 to February 2015 grew by 21,200 — one of the most significant increases in the country.
Kansas surpassed all neighboring states except Colorado in private job gains over the year.
forbes1
In private-sector hourly wages, Kansas beat all neighboring states except Nebraska.
Private-sector hourly wage estimates for January were revised upward, showing that Kansas gained 3.4% rather than 3.2% in hourly pay.
In month of February, Kansas hit a new record in hourly wage gains of 61 cents an hour.
Kansans are making an average of $25.52 more each week, while only having to work an average of 12 minutes longer.”
Compared to February last year, Kansas City, Kansas’s private sector average hourly wages were higher than in Kansas City, Missouri by 55 cents.
Unrelated to February data, Kansas has one of the highest employment-to-population ratios in the U.S., at 65.2%.

http://www.forbes.com/sites/rexsinquefi ... ous-state/" onclick="window.open(this.href);return false;

So I read both the Forbes piece and the Investors Business Daily op-ed it linked to. Forbes at least provides a link to Bureau of Labor Statistics reports whereas the IBD piece simply cites numbers put out by the Kansas City Policy Institute:

The Kansas Policy Institute (KPI) is a free-market American think tank based in Wichita, Kansas.[4] A member of the State Policy Network, it primarily focuses on state and local policy issues in Kansas, including education, budget and spending, health care, and property taxes.

Overview
The group's stated mission is to "advocate for free market solutions to public policy issues and the protection of personal freedom for all Kansans."

http://en.wikipedia.org/wiki/Kansas_Policy_Institute" onclick="window.open(this.href);return false;

The reason I did this is the BLS report didn't back up some of the numbers from the Forbes or IBD articles and one of the graphs in the Forbes piece is nowhere to be found in the BLS report. Curious, because the graph comes after a claim that Kansas ranked #2 in job growth but the graph is a regional statistic. In other words Kansas was 2nd out of 5 neighboring states.

I then found this recent piece that disputes the IBD articles claims related to the Missouri side of Kansas City:

Take a look at federal Bureau of Labor Statistics figures, released on a monthly, non-seasonally adjusted basis for the area. (Note: The total workforce on the Missouri side is a bit larger than on the Kansas side.)

▪ In the most recent year, from January 2014 to January 2015, employment on the Missouri side of the state line rose 3.7 percent vs. 2.6 percent on the Kansas side.

The Missouri side gained 20,300 jobs in that year while Kansas added only 11,300.

This is especially notable because it occurred when — if Brownback’s theory were working — more companies, firms and individuals likely would be expected to take advantage of the tax cuts and roll into Kansas.

▪ In the two years the Brownback tax cuts had been in place from January 2013 to January 2015, employment on the Kansas side was up 4.5 percent, which Missouri nearly matched with job growth of 4.2 percent.

That’s only a small advantage for Kansas. And the Missouri side actually added more jobs than the Kansas side did during this time — 23,000 vs. 19,200.

▪ Overall, the Kansas side of the metropolitan area added fewer jobs after the tax cuts took effect than it did during the first two years of Brownback’s term before the cuts were in pla

ce.

Read more here: http://www.kansascity.com/opinion/edito ... rylink=cpy" onclick="window.open(this.href);return false;

[Baldy]

I only described his bio.

What he wrote was basically satire...kinda like "The Interview".
What hurt my feelings was the "The Interview" was lots more funny...and probably lots more accurate too.

BTW, he's a BIG TPP proponent as well. Does that hurt your feelings?

No. I take each issue independantly. On that one he's wrong.

I wonder if he was commie bastard when he was an analyst for Bain.

If Milton Friedman can work in the FDR Administration, I don't see any reason why this nobody couldn't work for Bain Capital.

[Chizzang]

Um...
Kansas is on a projected $90 million dollar shortfall
Tax cuts are great but you still have to spend less
I'm not so sure I'd be praising these rocket scientists budget balancing skills

[Col Hogan]

Um...
Kansas is on a projected $90 million dollar shortfall
Tax cuts are great but you still have to spend less
I'm not so sure I'd be praising these rocket scientists budget balancing skills

The thread title is...well, you can read it...

I made no comment about anything but jobs...which seems to indicate that, in fact, the Kansas tax cuts have created jobs,,,

[kalm]

Um...
Kansas is on a projected $90 million dollar shortfall
Tax cuts are great but you still have to spend less
I'm not so sure I'd be praising these rocket scientists budget balancing skills

The thread title is...well, you can read it...

I made no comment about anything but jobs...which seems to indicate that, in fact, the Kansas tax cuts have created jobs,,,

According to the Kansas Policy Institute.

[CID1990]

The thread title is...well, you can read it...

I made no comment about anything but jobs...which seems to indicate that, in fact, the Kansas tax cuts have created jobs,,,

According to the Kansas Policy Institute.

So slightly more credible than Rolling Stoner.

[AZGrizFan]

Um...
Kansas is on a projected $90 million dollar shortfall
Tax cuts are great but you still have to spend less
I'm not so sure I'd be praising these rocket scientists budget balancing skills

$90 million is a rounding error.

[Chizzang]

So let me see if I have this right...
We're going to praise Kansas for creating "more jobs"
alright - that sounds nice

We then give the success of job generation = Accomplished by cutting taxes

All good so far...
The state of Kansas has now successfully generated less revenue
Due to tax cuts - obviously any idiot would know that
The net result of a tax cut is lower generated revenue

And ye t the state made ZERO adjustments in its budget
and did NOT account for the exciting new tax cuts
and is coming up short (far more shot that I suggested prior to a little investigation)

Classic buffoonery...
The Republican rube goldberg machine of business
where now somebody else will be forced to pay for the Kansas dramatic shortfall in revenue

And who is it - that that pays for - the Kansas blunder
Answer: Not the billionaires who got the Tax Cut

$600 Million and counting in shortfalls
Projected to be over a Billion

[AZGrizFan]

So let me see if I have this right...
We're going to praise Kansas for creating "more jobs"
alright - that sounds nice

We then give the success of job generation = Accomplished by cutting taxes

All good so far...
The state of Kansas has now successfully generated less revenue
Due to tax cuts - obviously any idiot would know that
The net result of a tax cut is lower generated revenue

And ye t the state made ZERO adjustments in its budget
and did NOT account for the exciting new tax cuts
and is coming up short (far more shot that I suggested prior to a little investigation)

Classic buffoonery...
The Republican rube goldberg machine of business
where now somebody else will be forced to pay for the Kansas dramatic shortfall in revenue

And who is it - that that pays for - the Kansas blunder
Answer: Not the billionaires who got the Tax Cut

$600 Million and counting in shortfalls
Projected to be over a Billion

Sounds exactly like what the Federal government's model is....

[Chizzang]

Sounds exactly like what the Federal government's model is....

Let me be the first to say I'm all in favor of damn near any tax cut
BUT THE CART is over there the hose is somewhere else

First: We must reduce government spending - that's #1
Then we reduce taxation

You cannot do them backwards - it doesn't work
Somebody will always have to pay for the shortfall
See: Middle class