Showing posts with label Jobs 2017. Show all posts
Showing posts with label Jobs 2017. Show all posts

Thursday, December 7, 2017

Recent history shows that recipients of lower top marginal income tax rates haven't invested the money . . . here

The top marginal rate averaged 70% from 1960, 73% shown is from 1956. The investment data starts in 1960.
Individuals and businesses need incentives to invest here in the United States. They won't do it naturally.

Recent tax history shows this to be the case. For decades when top marginal income tax rates were very high before 1986, the most successful in our society plowed money into domestic investment to grow businesses through which they could derive income, which was taxed at lower long term rates than ordinary income which was taxed at very high rates. Not only did they themselves benefit handsomely, but the whole country benefited because people found useful employment and government received tax revenue. It was an arrangement which made America great.

After the 1986 tax reform which lowered top marginal rates, this stopped being true. The record shows a steep fall-off in domestic investment, which is one reason why incomes and jobs have been stagnant and deficits have piled up. 

The other reason, of course, is free-trade, euphemistically called globalization, which made it possible for businesses to invest internationally instead of domestically. This has been a boon to the growth of middle classes in other countries, but not in our own.

It's not very patriotic, is it?

What we need now is government policy which rewards domestic investment, and punishes its export. The best way to do this is to abolish taxation on domestic business completely to attract more of it, and heavily tax foreign business. We should also reinstate the correct mix of high top marginal income tax rates to incentivize business investment, coupled with attractive long term capital gains tax rates as a reward to the true risk-takers.

Needless to say, the Republican shift away from worldwide taxation to territorial taxation in the "reform" is about reducing risk to established business. This is simply going to make matters much worse for the American middle class, as is the obsession with making money the easy way through lower top marginal ordinary income tax rates.

The American character and spirit I once knew appears to be truly dead.

Thursday, November 30, 2017

Jimmy P has it right: Tax cuts never jazzed core Trump voters the way immigration restriction and The Wall did

Here for The Week:

Remember, the U.S. is in its 101st month of a steady-if-unspectacular economic expansion. The unemployment rate is low. While there are obviously millions upon millions of Americans who continue to struggle, overall the economy simply isn't the priority for voters that it is in times of real economic crisis. What's more, a failed tax cut is unlikely to derail the expansion, since expectations of a fat tax cut aren't responsible for the growing economy and rising stock market. (You can thank a global economic upturn for that.) And tax cuts — much less corporate tax cuts — weren't the motivating factor behind the Trumpopulist surge. Tax cuts never jazzed core Trump voters the way immigration restriction and The Wall did. Trump's diehard supporters won't howl over a failure to slash corporate tax rates. ... [N]o magic tax cut will turn 2 percent GDP growth into sustained 3 percent or 4 percent growth.

Monday, November 27, 2017

Hillary and Obama's legacy in Libya: Blacks being sold as slaves in open air markets

From the story here:

Black Africans are being sold in open-air slave markets right now, and it’s Hillary Clinton’s fault. ... Footage from Libya, released last week by CNN, showed young men from sub-Saharan Africa being auctioned off as farm workers in slave markets.

And how did we get to this point? As the BBC reported back in May, “Libya has been beset by chaos since NATO-backed forces overthrew long-serving ruler Col. Moammar Gadhafi in Oct. 2011.” And who was behind that overthrow? None other than then-Secretary of State Hillary Clinton.

Wednesday, November 1, 2017

If you're among the 59% who think this is the lowest point in American history, you're a dumbass

In 2009 in Obama's America, nearly 30 million people filed first time claims for unemployment. That high point is the lowest point in recent memory. And if you can't remember that, you're either a moron, on drugs, or NINE.

Story here.

Thursday, October 26, 2017

Sunday, October 8, 2017

Don't look now but full-time job growth has slowed by 29% since 2015

(all data not-seasonally-adjusted)
In September 2017, full-time jobs grew barely by 2% year over year. The only other month in 2017 at 2% or higher was in April, at 2.3%, the dreaded spring of the year when the BLS' Birth/Death model adds phantom jobs to the economic data out of thin air based on business formation assumptions. All other months in 2017 so far have seen full-time jobs grow year over year by less than 2%, yielding the average shown of 1.7%. By contrast, 2016 had only three months out of the first nine below 2% growth year over year, and 2015 had none. Welcome to the slowdown, and maybe a . . ..

Monday, September 11, 2017

Just when you think you are talking to a sane person, he cites Paul Craig Roberts

"Others maintain the U.S. government seriously undercounts the national unemployment figures for political effect. Paul Craig Roberts is one whose view I would take over yours, no offense intended. He is a highly respected authority on political/economic issues."

You know Paul Craig Roberts:

Today, April 15, 2017, is the fourth anniversary of the Boston Marathon Bombing, a hoax event performed by crisis actors and tell-tale bright red Hollywood blood. Sheila Casey has done a good job of exposing the hoax just by using the time line and photos of the event. https://truthandshadows.wordpress.com/2013/05/08/false-flag-theatre-boston-bombing-involves-clearly-staged-carnage/

A number of agencies run training programs in which amputees working as crisis actors have a prosthesis afixed to resemble a bone as a remaining piece of a leg or arm. Casey examines the Boston event by timeline. First the crisis actors are assembled. Then the prosthesis is attached. Then the blood appears. ...

A person has to be extremely gullible and inattentive to believe the official story. But that is what most Americans are.

Friday, August 4, 2017

There's something you don't see everyday: Grossly UNDERESTIMATING "not in the labor force"

It's actually 94.6 million in July 2017, not 50 million.

Among all those millions, just 5.4 million "want a job now". The rest are old and retired, young and in school, unable to work because of disability, homemakers, etc.

You people out there just don't get it.

If employers could fire 30 million of your asses in 2009 and get along just fine without you, they still can.

Full-time job growth under Trump so far beats Obama and Bush, but that's about it

Note that employers panicked under Obama and fired people like crazy after his election, so there was a steep decline in full-time.

So far the growth of full-time shows a tentative thumbs-up to Trump, but still nothing like the vote of confidence typical after previous changes at the helm of state.

The puny 2.5% growth under George W. Bush, keep in mind, was still all pre-911 and post-Reagan bull market, which ended in August 2000. Trump is doing better than Bush, but not by much.




Monday, July 24, 2017

Despite auto company bailouts, Michigan employment lags year 2000 levels by 308,000 jobs, the worst in the country

Ohio comes in number two, with a shortfall in jobs of 108,000 from the previous peak.

Together Michigan and Ohio account for 95% of the shortfalls in eight states recently identified in a Wall Street Journal blog post.

Sunday, July 23, 2017

George Herbert Walker Bush's legacy: It took only 7 years of NAFTA to destroy hours worked in the United States

Hours of all persons grew 44% during the Reagan bull market, which ended in August 2000. Since then, hours of all persons has grown just 3%.

NAFTA went into effect in January 1994, eleven years after the Reagan bull began and a little over one year after Bush inked the deal. Seven years later hours of all persons peaked.

It reminds me of Bill Clinton's innovation, the so-called Taxpayer Relief Act of 1997, which blew up the housing market after just 10 years.

Republicans take away your job, then Democrats come along and take away your house.

If you're living in your car, you'd better watch your back.  


Saturday, July 8, 2017

Full-time jobs still haven't recovered after 10 years: We are at least 4.6 million behind

Full-time jobs in June 2007 stood at 122.2 million.

40.58% of the population then had full-time jobs.

In June 2017 127.3 million had full-time jobs, but that is only 39.16% of the population.

At the 2007 rate, 131.9 million would have full-time jobs in June 2017.

One can say the level has recovered, but the percentage sure hasn't.

We are at least 4.6 million full-time jobs behind what could reasonably be called full recovery, after 10 long years which millions will never get back:

Like people with already long careers which were cut short in their peak earning years, to the stillborn careers of young people whose college preparations got them ready for nothing but debt payments, to the people who finally found full-time jobs again but at salaries 20% behind what they were paid for the same work a decade ago, to the many millions who struggled through income stagnation throughout the period.

That's just some of the true crime of what has just transpired, and it's all on Barack Obama, the enemy of the middle class.