Big 4 accounting firm says obama tax proposal could cost 700,000 jobs

[whork]

so you agree now that 50% of households pay no FEDERAL INCOME TAX?

I dont believe I ever said they dont pay taxes at all did I?

if not then why are you bringing this up? to deflect from the fact that 50% of households pay no federal income tax?

Try reading it again.

Its not 50% and even then its elderly and children. You want to cut taxes for rich and impose them on old and children instead?

[tonymctones]

Try reading it again.

Its not 50% and even then its elderly and children. You want to cut taxes for rich and impose them on old and children instead?

LMFAO I did read it, I posted a quote DIRECTLY FROM IT...

this is just like the other thread where you said your link said something it didnt, its becoming a tactic of yours whork.

so now that you accept that 50% dont pay federal income tax youre trying to justify it?

cool, real cool

I want to cut taxes for everyone as raising them wont do shit for the deficit, only cutting spending will make a real impact.

But if you want to act like this is all in "fairness" dont you believe that everybody should have some skin in the game? otherwise those that dont will always simply vote to raise taxes on those that already pay the vast majority of the taxes collected in this country.

[andreisdaman]

So instead of putting a stop to the wild spending of politicians by adopting the Romney-Ryan-Wyden budget plan, or better yet the Rand Paul budget plan, you simply propose increasing spending more and more because that's what's easy for politicians? You do realize that the more tax money the politicians get the more they'll spend right?!? That's why Obama's budget plan NEVER balances the budget, whereas Romney's does.

dude...I never said that I propose more spending..I have said that its a fact of life.....and even if that Rand proposal is enacted the gov't will still find a way around it...they always do....also do you ACTUALLY BELIEVE Romney is going to balance the budget???...if so, then you are really nuts

[howardroark]

dude...I never said that I propose more spending..I have said that its a fact of life.....and even if that Rand proposal is enacted the gov't will still find a way around it...they always do....also do you ACTUALLY BELIEVE Romney is going to balance the budget???...if so, then you are really nuts

The bill that he endorsed and that the Republican leadership crafted and that passed the House with an overwhelming majority balances the budget by 2030. Obama and the Democrats, on the other hand, haven't offered ANY plans for reducing the deficit and eventually balancing the budget.

And what's the fact of life? If government gets more revenue, then it'll find a way to spend it. Raising taxes doesn't do jack shit for reducing budget deficits.

And while we're at it, here's a study by two Harvard economists showing that tax cuts are a superior economic stimulus compared to spending increases and that balancing the budget by cutting spending is better than doing the same by raising taxes: http://www.nber.org/papers/w15438

[tonymctones]

YAY ISSUES!!!!

obama still pushing a tax plan that one of the most respected accounting/consulting firms in the world says could cost us 700K jobs!!!

[tonymctones]

Who needs jobs, "the private sector is doing fine" right?

[tonymctones]

Bump for the ISSUES!!!

is this a case where the end justifies the means?

[tonymctones]

700K jobs lost on top of the increasing unemployment rate...

"private sector is doing just fine"!!!

[tu_holmes]

Lies?

[Soul Crusher]

 


Lol.   Look at the scaling manipulation. 

Lies?

[tu_holmes]

Lol.   Look at the scaling manipulation. 

You mean because they don't show before that time?

Well, I thought we all knew there were lots of jobs and low UE at that time.

[tonymctones]

Lies?

Not quite sure why you posted this in this thread

creating jobs is not the only thing that effects unemployment

the economy added jobs this month but the unemployment number still rose due to other factors.

[tu_holmes]

Not quite sure why you posted this in this thread

creating jobs is not the only thing that effects unemployment

the economy added jobs this month but the unemployment number still rose due to other factors.

I thought it was all about job creation though... Isn't that what everyone keeps harping on?

Obviously job retention is a big part of it, but you gotta have a job available in the first place.

Personally, I think UE is a bullshit number... Not just because it's faked by everyone, but also because I believe that business hire enough people to do the job they need done... No more and no less.

[240 is Back]

Lies?

I bet if this chart was reversed, it'd be the first thing 333386 posted every morning.

[tonymctones]

I thought it was all about job creation though... Isn't that what everyone keeps harping on?

Obviously job retention is a big part of it, but you gotta have a job available in the first place.

Personally, I think UE is a bullshit number... Not just because it's faked by everyone, but also because I believe that business hire enough people to do the job they need done... No more and no less.

if job creation doesnt outpace factors like lost jobs and labor participation what does it matter?

thats why you can have a positivie job number and an increase in unemployment like we did today...

I can agree on that I think businesses have become more aware of the waste they had and cut the fat often times to much like in my company.

The issue also is that businesses arent taking the risks right now b/c of alot of the uncertainty in their outlooks on everything from labor costs to demand.

[tu_holmes]

if job creation doesnt outpace factors like lost jobs and labor participation what does it matter?

thats why you can have a positivie job number and an increase in unemployment like we did today...

I can agree on that I think businesses have become more aware of the waste they had and cut the fat often times to much like in my company.

The issue also is that businesses arent taking the risks right now b/c of alot of the uncertainty in their outlooks on everything from labor costs to demand.

I would agree to some extent, but there are a LOT of businesses who are taking risks still... Not as many during the .com bubble or the housing bubble, but those were just that... bubbles.

I believe that if you have a skill of some sort and are willing to work hard to develop that skill, then you will find success.

[tonymctones]

I would agree to some extent, but there are a LOT of businesses who are taking risks still... Not as many during the .com bubble or the housing bubble, but those were just that... bubbles.

I believe that if you have a skill of some sort and are willing to work hard to develop that skill, then you will find success.

I agree with you on this but would add you have to be flexible.

You need to be willing to relocate, take a position that may not be everything youre looking for in regards to pay/benefits etc.

[tu_holmes]

I agree with you on this but would add you have to be flexible.

You need to be willing to relocate, take a position that may not be everything youre looking for in regards to pay/benefits etc.

Isn't that what being self sufficient is all about? That's what adults do.

[tonymctones]

Isn't that what being self sufficient is all about? That's what adults do.

Totally agree but the fact remains there are tons of "adults" that dont do this.

Some b/c it is financially hard and some b/c they just refuse to move

[tu_holmes]

Totally agree but the fact remains there are tons of "adults" that dont do this.

Some b/c it is financially hard and some b/c they just refuse to move

I know a PHD Chemical Engineer who lost his job (after about 3 years since he graduated) and he says he couldn't find a job.

I call bullshit... He just refused to move.

I have moved across the country and would move even farther if that's what it took.

[tonymctones]

I know a PHD Chemical Engineer who lost his job (after about 3 years since he graduated) and he says he couldn't find a job.

I call bullshit... He just refused to move.

I have moved across the country and would move even farther if that's what it took.

I agree, I was getting ready to move to Clovis, New Mexico before I found work in Houston.

CLOVIS, NEW MEXICO!!!! LMFAO

you have to be willing to do what it takes. I will say it would have been easier for me not being married and having no kids but still.

[tu_holmes]

I agree, I was getting ready to move to Clovis, New Mexico before I found work in Houston.

CLOVIS, NEW MEXICO!!!! LMFAO

you have to be willing to do what it takes. I will say it would have been easier for me not being married and having no kids but still.

Fuck that shit... If your kids want to eat, they're gonna move with you... same for some wife.

If she likes the pay you bring in, she'll move her ass wherever it takes and be damn happy about it.

[Straw Man]

http://news.yahoo.com/blogs/ticket/study-says-obama-tax-proposals-could-cost-700-145037841.html

Here is what the accounting firm concluded would happen:

·  Output in the long-run would fall by 1.3 percent, or $200 billion, in today's economy.

·  Employment in the long-run would fall by 0.5 percent, or roughly 710,000 fewer jobs, in today's 
economy.

·  Capital stock and investment in the long-run would fall by 1.4 percent and 2.4 percent, respectively.

·  Real after-tax wages would fall by 1.8 percent, reflecting a decline in workers' living standards 
relative to what would have occurred otherwise.

why didn't you post the full article ?

here are a few salient points worth noting

Republican House Speaker John Boehner hammered President Barack Obama on Tuesday after accounting firm Ernst and Young released a study funded by pro-business groups hostile to the Democrat's agenda


But Rep. Sander Levin, the top Democratic member of the tax-writing House Ways and Means Committee, blasted the report

"The study's bias is obvious, its methodology is flawed and its purpose is clear: Republicans are seeking every opportunity to repeat a tired and discredited claim about small businesses in an effort to protect the highest earners from contributing toward deficit reduction," Levin said in a statement.

"The fact is that extending the high-income tax cuts would cost $850 billion and it is far past time for Republicans to join with Democrats in asking the very wealthiest to contribute toward deficit reduction," Levin said.

One flaw, according to Levin: The report allows for two possible uses for the revenues generated by allowing the high-bracket tax cuts to lapse—more government spending, or returning the money to the public "through an across-the-board reduction in tax rates." But Levin said: "The president has made clear this revenue should be used for deficit reduction."

[tonymctones]

LOL I linked it and was asked for specific points...

So I guess youre saying that Ernst and Young one of the most respected accounting/consulting firms in the country is now biased too? they are the ones who conducted the assesment not the ppl who funded it!!!

Please explain how their methodolgy is flawed.

and how is deficit reduction going to help job creation right now?

arent liberals always talking about how the govt needs to stimulate the economy with money?

thats what EY put in their assesment

[Straw Man]

LOL I linked it and was asked for specific points...

So I guess youre saying that Ernst and Young one of the most respected accounting/consulting firms in the country is now biased too? they are the ones who conducted the assesment not the ppl who funded it!!!

Please explain how their methodolgy is flawed.

and how is deficit reduction going to help job creation right now?

arent liberals always talking about how the govt needs to stimulate the economy with money?

thats what EY put in their assesment

what makes you think they are not capable of creating a biased report, especially when they are being paid to produce one?

Are you familiar with the recent history of the big accounting firms?