Posted on 09/13/2010 9:57:44 AM PDT by Hojczyk
The president and many in Congress are using this year's catastrophe in the Gulf to push for sweeping, unrelated measures that would punish not only the US oil and gas industry but the American economy as a whole.
Just last week, President Obama explicitly targeted the industry for two massive tax hikes. First, he'd ban oil and gas companies from using the "Section 199" tax credit, a measure for domestic manufacturers enacted in 2004 to boost US employment. (The Senate is set to vote this week on its version of the ban.) Second, he wants to end "dual capacity" protection for US energy firms.
AFP/Getty Images BP: Stands to gain by prez push to tax US firms. Without this shield against double taxation on foreign revenues, American companies would be competing on an uneven global playing field. Again, Obama aims directly and specifically at the US oil and gas industry.
Yet, by the federal government's own economic model, these tax hikes would lead to huge, immediate job losses. I ran the numbers through the Commerce Department's RIMS II model; it shows, under the proposed changes to Section 199 and dual capacity, Americans would almost immediately lose more than 150,000 stable, private-sector jobs.
Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/the_prez_new_jobs_killer_4ndPiDDlONpgCfi9eXfDUN#ixzz0zQfMrce4
(Excerpt) Read more at nypost.com ...
That's the point.
Hussein’s motto: “Anything to hurt America.”
That’s the scheme. Kill off the private sector replace with school teachers and firemen.
“Kill off the private sector replace with school teachers and firemen”.
...actually, there are cities around the country that are so broke they’ve issued warnings to citizens that police and fire will not respond under certain circumstances. This economy is firing some public sector people as well.
For decade the IAFF have gouged municipalities.
Harold Schaitberger union thug esp. has done a terrifice job
for the union but at what cost?
But your point is taken. When the economy suffers tax revenues decrease. The lesson is that robbing the private sector via redistribution does not create wealth.
Obama: Destroying more lives than drugs and alcohol.
For all of us who have Liberal aquaintenances salivating at the thought of pushing more taxes onto the “big corporations”.....
Ask them to their face WHERE THEIR retirement money is invested.
In a jar in the back yard? In stocks & bonds?
Mutual funds—money markets—all kinds of private & corp pension funds will be affected by such an increase in taxes.
Keep putting more taxes on large & small companies & you will see more layoffs & lower stock values. The stockholders expect a return on their investment & it is the duty of the Board of directors of any company to provide enough profit to make that happen.
An increase of 13% in taxes could result in a decrease in 13% of the employees on payroll & a price increase in the product or service.
Companies cannot operate without stockholders—they are the investors who keep the business running, even during normal operations after start-up.
Do YOUR parents have all their pensions in such companies? Are you prepared to take them into your YUPPIE mansion, Liberals, when they no longer have dividends to live on?
I think it would be a stunning shock for you to realize the end result of what you are asking for now.
Almost every liberal I know is motivated either by envy/jealousy, resentment, or the need to have a cause with which to elevate their own importance. I know of few, if any liberals who are actually motivated by altruism or genuine empathy. They are the ‘we’re going to stick it to you and take things from you’ crowd, and are morally bankrupt. How the right allowed the left to characterize themselves as the caring and empathic choice is beyond me.
We need some new math to calculate how many jobs “lost or killed” by Obama.....
*Obama: Destroying more lives than drugs and alcohol.*
WOW!
That’s one for a bumpersticker
Excerpt:
Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.
“The US has run out of bullets,” Roubini told an economic forum in Italy earlier this month. “Any shock at this point can tip you back into recession.” * * * But other economists, who have so far stayed out of the media limelight, are also proselytizing nightmarish visions of the future. * * *
Well . . . DUH ! . . . Printing $ Trillions in fake currency is like the government going into the counterfeiting business. No good can come from it. Bernanke and Geithner deserve to be tarred and feathered and left in the stocks for the homeless to torment. 'Nuff said ere.
” Bernanke and Geithner deserve to be tarred and feathered and left in the stocks for the homeless to torment “
Not severe enough.
"We're not sure what he said, exactly, but attendees drew a picture of his speech (so Googly of them)."
Good one ;-)
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