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  • Last Two Election Cycles, Unemployment Dropped Drastically Right Before Election, Rose Soon After

    10/04/2014 8:24:34 PM PDT · by Perdogg · 26 replies
    In an odd coincidence, the last two election cycles have seen a drastic, unexpected drop in the unemployment rate immediately before the election. And in 2012 and 2010, the unemployment rate increased the month or the next after the election. Just as big a coincidence, both 2014 and 2012 saw the drop come in September, but reported in October, the best time to report supposed good news on the economy.
  • Recent Job numbers favor Democrats

    10/04/2014 7:40:14 AM PDT · by SeekAndFind · 33 replies
    New York Post ^ | 10/04/2014 | John Crudelle
    Advantage, Democrats — unless the 248,000 new jobs in September suddenly force Republicans to go on the offensive. I will explain in a second what the Republicans’ next move could be. But first, you may have read that the Labor Department on Friday, in its last jobs report before the mid-term elections, revealed that job growth and the unemployment rate both improved nicely in September — in fact, better than I expected. That’s going to make the Republican battle to take over the Senate a lot harder because issue No. 1 with Americans is the economy. Jobs = votes. In...
  • Last Two Election Cycles, Unemployment Dropped Drastically Right Before Election, Rose Soon After

    10/03/2014 1:35:03 PM PDT · by therightliveswithus · 16 replies
    Pundit Press ^ | 10/3/14 | Aurelius
    In an odd coincidence, the last two election cycles have seen a drastic, unexpected drop in the unemployment rate immediately before the election. And in 2012 and 2010, the unemployment rate increased the month or the next after the election. Just as big a coincidence, both 2014 and 2012 saw the drop come in September, but reported in October, the best time to report supposed good news on the economy. This comes on the heels of this election cycle's surprise news that the unemployment rate decreased .2% to 5.9%., a mere two months after the unemployment rose to 6.2%. For...
  • Hedge Fund Manager Kyle Bass: Unemployment Rate Is 'Rigged', Closer to 11%

    09/24/2014 2:46:20 PM PDT · by SeekAndFind · 10 replies
    Real Clear ^ | 09/24/2014
    America's unemployment rate as measured by the Labor Department vastly underrepresents the number of Americans actually out of work, hedge fund manager Kyle Bass told CNBC. Earlier this month, the government said the nation's unemployment rate fell to 6.1 percent in August, while job growth cooled with just 142,000 nonfarm payrolls added. "Look at unemployment, the way it's calculated is it's semi-rigged," he argued in a "Squawk Box" interview. "It will trend down to the 5 percent range just because people stop looking for a job." "If you take everyone that has dropped out of the workforce since the beginning...
  • 4 Of 5 Top Job Additions In September Were Low Or Minimum Wage

    10/03/2014 7:09:52 AM PDT · by SeekAndFind · 14 replies
    Zero Hedge ^ | 10/03/2014 | Tyler Durden
    div class="content">Interested why despite the euphoric headline NFP print, a cursory glance deeper inside the payrolls report reveals weakness after weakness, with both participation plunging again and wages the worst since last summer? Here is the answer: 4 of the top 5 largest job additions in September, retail trade, leisure and hospitality, education and health and temp help, were of the lowest quality, and paying, jobs possible. So yes, America added a whole lot of minimum wage waiters, store clerks, groundskeepers and temps: truly the stuff New Normal "recoveries" are made of.
  • Obama's Illinois: Food Stamp Growth Exceeds New Jobs

    09/17/2014 3:41:34 PM PDT · by raptor22 · 12 replies
    Investor's Business Daily ^ | September 16, 2014 | IBD EDITORIALS
    Economy In Crisis: A new study by the Illinois Policy Institute shows in the past four years, the number of new food-stamp recipients in the state has outpaced new jobs nearly 2-to-1. Illinois Democratic Gov. Pat Quinn, locked in a tight re-election battle with self-made billionaire Republican Bruce Rauner, has been arguing that Illinois, arguably the bluest of blue states, has turned the fiscal corner and is on its way back. The recovery may be slower than Quinn wants it to be — but, he says, it is real. It is an odd recovery, though, that makes more people dependent...
  • U.S. initial jobless claims fall by 36,000 to 280,000 last week

    09/18/2014 6:27:18 AM PDT · by SeekAndFind · 19 replies
    Investing ^ | 09/18/2014
    The number of people who filed for unemployment assistance in the U.S. last week fell to the lowest level since mid-July, fuelling optimism over the strength of the labor market, official data showed on Thursday. In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 13 decreased by 36,000 to a seasonally adjusted 280,000 from the previous week’s revised total of 316,000. Analysts had expected jobless claims to fall by 11,000 to 305,000 last week. Continuing jobless claims in the week ended September 6 fell to 2.429...
  • Weekly Jobless Claims Rise Less than Expected, Point to Firming Labor Market

    09/25/2014 8:34:45 AM PDT · by mykroar · 19 replies
    FoxBusiness.com ^ | 9/25/14 | Reuters
    <p>The number of Americans filing new claims for unemployment benefits rose less than expected last week, suggesting an acceleration in job growth in September.</p> <p>Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 293,000 for the week ended Sept.20, the Labor Department said on Thursday.</p>
  • The Great Recession: The financial crisis that keeps on giving

    09/29/2014 2:01:22 PM PDT · by SeekAndFind · 6 replies
    Los Angeles Times ^ | 09/29/2014 | SCOTT MARTELLE
    The Great Recession has lasted a lot longer for some than for others. A new survey from Rutgers University’s John J. Heldrich Center for Workforce Development found that “one in five workers - or nearly 30 million people - say they were laid off from a job in the past five years," dating back to the end of the recession in June 2009. "Nearly 4 in 10 of these laid-off workers say they searched for a job for more than seven months before finding another one; one in five workers laid off during the past five years never found another...
  • U.S. Weekly Jobless Claims Unexpectedly Drop To 287,000 [4th straight week below 300,000]

    10/02/2014 6:42:41 AM PDT · by SeekAndFind · 21 replies
    RTT News ^ | 10/02/2014
    First-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended September 27th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims fell to 287,000, a decrease of 8,000 from the previous week's revised level of 295,000. The pullback came as a surprise to economists, who had expected jobless claims to climb to 297,000 from the 293,000 originally reported for the previous week. The Labor Department said the less volatile four-week moving average also edged down to 294,750, a decrease of 4,250 from the previous week's revised average of 299,000. With...
  • "Discussion" of Unemployment on Bloomberg. Bring back JOBS to America.

    10/03/2014 5:14:14 AM PDT · by Cringing Negativism Network · 12 replies
    Bloomberg News | 10/3/2014 | (rant)
    This morning I'm watching Bloomberg news, and they just started the hour with a quick discussion of unemployment, in anticipation of the week's statistics. I am left distinctly unenthused by the nature of that "discussion". Nobody is talking about unemployment, as a lack of jobs. We have as a country, one big problem. We have sent millions of AMERICAN JOBS to other countries. Many to the Peoples Republic of China. Our solution is so simple. America needs to bring back American jobs. Nobody is willing to say that. We continue as a nation to run a 30 billion trade deficit...
  • .S. Added 248,000 Jobs in September, Unemployment Rate Falls to 5.9%

    10/03/2014 6:09:50 AM PDT · by mykroar · 27 replies
    FoxBiz.com ^ | 10/3/14 | Dunstan Prial
    The U.S. economy added 248,000 jobs in September as labor markets rediscovered the momentum gained earlier this year. The headline unemployment rate dropped unexpectedly to 5.9% from 6.1% The better-than-expected figures are certain to rekindle the debate over the timing and trajectory of interest rate hikes by the Federal Reserve, as the positive report will have many economists looking for rates to move higher sooner rather than later. In August the economy generated just 142,000 new jobs, well below expectations on weakness in major sectors including manufacturing, retail and transportation. That number was revised upward to 180,000 on Friday, according...
  • U.S. unemployment rate drops to 6-year low at 5.9%

    10/03/2014 7:05:04 AM PDT · by SeekAndFind · 74 replies
    CRAIN's CLEVELAND BUSINESS ^ | 10/03/2014 | SCOTT SUTTELL
    The U.S. unemployment rate is below 6% for the first time in more than six years. The U.S. Bureau of Labor Statistics reported Friday morning, Oct. 3, that the economy added 248,000 jobs in September, pushing the unemployment rate down to 5.9% from 6.1% in August. The unemployment rate hadn’t been below the 6% mark since July 2008, according to BLS historical data. Employment increased most strongly in professional and business services, retail trade and health care, the government said. The government said the number of people unemployed in September declined by 329,000 to 9.3 million. During the last year,...
  • Who Needs Work When We Have Obama?

    10/04/2014 4:18:48 AM PDT · by Kaslin · 25 replies
    Townhall.com ^ | October 4, 2014 | John Ransom
    While many will be giddy because the BLS reported that job creation came in at 248,000, well above analysts expectations-- and because unemployment ticked down to 5.9 percent-- make no mistake: this is still a bad job market.ThatÂ’s because another 315,000 people left the labor force last month. When adding in the numbers of people who entered the civilian population (217,000) job creation is hardly keeping up with population growth.The job gains, in fact, are not much better than in previous years. When one accounts for part-time work, discouraged workers and those who have dropped out of the labor force...
  • Everything You Need to Know About Friday's Jobs Numbers

    10/04/2014 7:49:34 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | October 4, 2014 | Mike Shedlock
    Initial Reaction The payroll survey shows a net gain of 248,000 jobs vs. an expectation of 215,000 jobs. Last month was revised up by 69,000 to 180,000. The six-month string of plus 200,000 jobs remains broken. Last month the household survey had a gain in employment of only 16,000. That number was not revised up. This month the household survey shows a respectable gain of 232,000, pretty much in line with the establishment survey. Nonetheless the household survey over the past six months has been much weaker than the establishment survey. One or the other is apt for some serious...
  • High Taxes and Demographic Shift Affect Congressional Representation

    10/04/2014 8:48:31 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 10/04/14 | Alan Joel
    Northeast States: For an area that used to be a political powerhouse, it is becoming increasingly marginalized due to excessive taxes and the ensuing population shift I have written on this subject before, and now the affects of high taxes and population migration are playing out in a substantial, political way: the decline of about 40% of Congressional seats in the Northeast. According to the Census Bureau, high taxpayers are moving south. It notes that in the 11 states that comprise the Northeast, population grew at a rate of only 15% over the thirty year span from 1983-2013, while the...
  • So whatever happened to the deficit?

    07/19/2014 5:47:48 AM PDT · by Citizen Zed · 23 replies
    Washington Post ^ | 7-19-2014 | Al Kamen
    Not so long ago the federal deficit was projected to destroy the country, our children’s future and just about everything else. Budget battles shut down the entire government for a couple weeks. How times change. A count by our colleague Alice Crites illustrates how the issue gained media traction – - especially after the Bush/Obama stimulus packages to mitigate Bush’s Great Recession – and how much it’s faded from the front pages. So what happened? Simple answer, of course, is that the deficit is way down and, for now, no longer a big problem.
  • Carson on ‘Sluggish’ U.S. Economy: ‘We Have Asinine Economic Policies’

    05/28/2014 5:55:01 PM PDT · by Nachum · 12 replies
    Penny Starr ^ | 5/28/14
    (CNSNews.com) – Author and retired pediatric neurosurgeon Ben Carson said at a National Press Club luncheon that the reason for the “sluggish growth” of the U.S. economy is because of bad policy. “And why do we have such sluggish growth?” Carson said on Wednesday in Washington, D.C. “Because we have asinine economic policies.” Carson, who gained a following after remarks he made about the “moral decline” of the nation in a speech at the 2013 National Prayer Breakfast, told an appreciative audience that they should think about that fact concerning the economy.
  • Gas Price Record Worsens: 1,245 Days above $3 a Gallon

    05/22/2014 1:34:55 PM PDT · by Olog-hai · 41 replies
    Cybercast News Service ^ | Julia Seymour
    Memorial Day weekend drivers will continue to take a hit as gasoline prices remain high. May 20 marks the 1,245th straight day that the national average for a gallon of regular gasoline costs more than $3 a gallon, according to AAA data. That’s nearly three-and-a-half years above $3 a gallon.
  • Obama's Promise of More "Shovel Ready" Jobs

    05/17/2014 7:17:42 AM PDT · by Kaslin · 22 replies
    Townhall.com ^ | May 17, 2014 | Bill Tatro
    When Barack Obama was first elected President he took to the podium along with his smiling V.P. and announced that America would be brought back with “shovel ready” jobs. In other words the construction business would be aboomin. Unfortunately like many of the President’s promises, too many to mention, it turned out to be just another illusion. A few years later, when both the President and Vice President were taking questions about the lack of jobs, and their shovel ready promises, they looked at each other, laughed and said “Right”. Unless we go down the road of the Chinese and...
  • Hillary Clinton slams Obama economy: 'Dream feels further and further out of reach'

    05/17/2014 10:51:11 AM PDT · by SeekAndFind · 70 replies
    Washington Examiner ^ | 05/17/2014 | Byron York
    n a speech in Washington on Friday, Hillary Clinton repeatedly criticized economic and social conditions under President Obama, barely mentioning the accomplishments of the man who appointed her secretary of State. Clinton's address, at the New America Foundation, was a broad indictment of the country's current leadership, with exactly one -- one -- note of praise for the Democratic president Clinton has called her partner and friend. Clinton, never known for self-effacement, began by noting her lifelong desire to make the world a better place and the "driving force" toward public service instilled in her by her mother. From there,...
  • 92,594,000: Americans Not in Labor Force Hits All-Time Record; Participation Rate 36-Year Low

    05/05/2014 8:05:29 AM PDT · by xzins · 35 replies
    CNS News ^ | May 2, 2014 | Terence P. Jeffrey
    A record 92,594,000 Americans were not in the labor force in April as the labor force participation rate matched a 36-year low of 62.8 percent, according to data released today by the Bureau of Labor Statistics. In March, according to BLS's non-seasonally adjusted data, there were 91,630,000 Americans not in the labor force. In April, that increased by 964,000 people to an all-time record of 92,594,000. The previous record was 92,534,000, set in January of this year. The BLS's seasonally-adjusted number for people not in the labor force--which was 92,018,00 for April--was also an all-time record. This was up 988,000...
  • U.S. economy slows to stall-speed (0.1% in Q1....any slower and we are contracting)

    04/30/2014 3:46:15 PM PDT · by Red in Blue PA · 45 replies
    The U.S. economy stalled in the first three months of 2014, but don't panic yet as it's probably just the winter weather effect. Gross domestic product, the broadest measure of economic activity, grew at a 0.1% annual pace in the first quarter, the U.S. Bureau of Economic Analysis reported Wednesday. That's brutally slow, even by sluggish post-recession standards. Since the Great Recession ended in June 2009, the economy has been growing at a rate of about 2% to 3% per year.
  • One-Tenth of 1% Economic Growth!

    04/30/2014 5:15:50 PM PDT · by Kaslin · 26 replies
    Rush Limbaugh.com ^ | April 30, 2014 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH:  One-tenth of 1%.  One-tenth of 1%!  Let me say it again.  One-tenth of 1%.  That's first quarter economic growth, and the Regime is blaming the cold weather.  I thought it was supposed to be global warming.  That was the reason for the cold weather.  Now the cold weather, which, because of global warming, is what the Regime is using to explain economic growth.  One-tenth of 1%.  Ladies and gentlemen, the ChiComs have overtaken us.  The ChiComs are the world's biggest economy, a communist country.  I warned everybody about this March the 4th of last year, this McKinsey...
  • White House Wants to Lift Ban on Interstate Tolls

    04/29/2014 6:24:18 PM PDT · by Nachum · 95 replies
    New York Times ^ | 4/29/14 | Ron Nixon
    Washington - Drivers on the nation’s Interstates could soon be paying more to travel. A transportation proposal sent to Congress by the Obama administration on Tuesday would remove a prohibition on tolls for existing Interstate highways, clearing the way for states to raise revenue on roads that drivers currently use at no cost. Congress banned tolls on Interstates in 1956 when it created the national highway system under President Dwight D. Eisenhower. The administration said lifting the toll ban would help address a shortfall in funding to pay for highway repairs. The tolls, along with other changes, could provide an
  • Wayne LaPierre: You Know The National Media Is Lying When They Call Themselves Journalists

    04/25/2014 7:06:02 PM PDT · by Red Steel · 9 replies
    NRO ^ | April 25, 2014 1:27 PM | Geraghty
    National Rifle Association Executive Vice President Wayne LaPierre, now speaking to the NRA Annual Meeting’s Leadership Forum, held at the Lucas Oil Stadium: “One hundred million gun owners will not back down, not now, not ever. Freedom has never needed our defense more than now.” “The core values that we believe in the things we care about most are changing and eroding: our right to speak, our right to gather, our right to work, our right to practice our religion and raise our family and protect them they see fit. Those aren’t old values or new values. They are core...
  • White House 'taxpayer receipt' shows 25% of income taxes go to health care

    04/25/2014 2:45:30 AM PDT · by SunkenCiv · 15 replies
    Washington Examiner ^ | April 15, Tax Day 2014 | Paul Bedard
    As a thank you for paying taxes today, the White House has written up a “2013 Federal Taxpayer Receipt” that shows most income tax, 25.19 percent, goes to health related areas, after accounting for Medicare and Social Security. “Want to know how your federal taxes are spent? President Obama is keeping his promise to make sure Americans like you can easily see what you're getting for your taxes,” said an email from the White House. The email notes that payroll taxes for Social Security tops Uncle Sam's take. They also break out Medicare separately from income tax expenditures. Users can...
  • 5 Scandalous Obamacare Horror Stories

    10/19/2013 3:51:29 AM PDT · by Kaslin · 23 replies
    Townhall.com ^ | October 19, 2013 | John Hawkins
    Obamacare is hurting people. A lot of people -- and not just the ones who are wasting all day trying and failing to sign up for the dysfunctional 600 million dollar website. Millions of Americans are losing their insurance, losing their doctors, and taking huge hits to their wallets because of Obamacare. Here are some of their stories... 1) Man with leukemia loses his health insurance: Michael Cerpok is a high school drop-out, one of six kids born to a school teacher, and doesn't come from a wealthy family. He has run two businesses for more than 25 years and...
  • Flex spending accounts face hit in health overhaul(aka possible new Tax)

    11/01/2009 8:18:32 AM PST · by janetjanet998 · 32 replies · 1,339+ views
    WASHINGTON – Those tax-free spending accounts that you and your co-workers use to help pay for dental work, insurance copayments or over-the-counter drugs face a hit under the health overhaul bills in Congress — unless a coalition that includes a powerful union, insurers and others can stop it. Bills in the House and Senate would cap at $2,500 an employee's allowable annual contribution to a health care flexible spending account. There is no federal cap on contributions now, though companies that offer the accounts — more than 80 percent of companies employing 500 or more workers do — typically impose...
  • IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    01/31/2013 2:43:47 PM PST · by rhema · 250 replies
    CNS News ^ | January 31, 2013 | Matt Cover
    In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year. Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS. The IRS's assumption that the cheapest plan for family of five will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan. “The annual national...
  • Health Reform Breaks Bad: The deceptions and disasters of Obamacare

    10/13/2013 11:58:48 PM PDT · by 2ndDivisionVet · 15 replies
    The Weekly Standard ^ | October 21 - October 28, 2013, Vol. 19, No. 07 | Christopher J. Conover
    Breaking Bad is the story of a seemingly well-intended but very misguided man who turned to cooking meth in order to amass enough wealth to provide for his family once he dies of cancer. The consequences of that unfortunate decision—not to mention the lies and deceptions to keep it on track—pyramid alarmingly over the course of five seasons, culminating in mayhem and a head-spinning body count. Obamacare isn’t a TV drama. But it will unleash its own tsunami of unintended consequences: more than a million jobs lost, an economy increasingly made up of part-time workers, higher health spending (at least...
  • How Obamacare Will Shrink the Labor Supply (freeloaders jazzed)

    10/14/2013 2:38:30 PM PDT · by Libloather · 4 replies
    National Review ^ | 10/14/13 | Veronique de Rugy
    Under the Affordable Care Act, someone making less than 138 percent of the poverty line qualifies for Medicaid, and someone between 138 and 400 percent of the poverty line is qualified to receive a federal tax subsidy for health insurance bought on a government exchange. But here is the problem: premiums will rise for millions of Americans because of requirements that policies provide certain benefits that they didn’t offer before. This means plenty of people will now have a pricier plan, and no way to defray the cost. My colleague Chuck Blahous sends me this piece from SFGate that gives...
  • ObaMedia: Health Insurance You Earn Is A "Tax Break"

    06/11/2009 10:36:20 AM PDT · by an amused spectator · 28 replies · 1,460+ views
    June 11, 2009 | various Obama Media sources
    Obama's Big Media mouthpieces are promoting the Dear Leader's latest talking point on Health Care: "Tax-free" health benefits from employers are actually a "tax break", and as such can be rescinded by The Leader and His Righteous Coven in the Congress.USA Today's Obama media sock puppet Richard Wolf "reports" in today's online rag:Lawmakers target health insurance tax break Congressscum appear to be ready to do a wilding on the health care you earned.
  • Guess Who Really Pays the Taxes By Stephen Moore

    01/01/2008 11:17:41 AM PST · by K-oneTexas · 37 replies · 1,005+ views
    The American ^ | November/December 2007 | Stephen Moore
    Guess Who Really Pays the Taxes By Stephen Moore From the November/December 2007 Issue Yes, income in America is skewed toward the rich. But taxes are skewed far, far more. The top 5 percent pay well over half the income taxes. STEPHEN MOORE has the numbers. 1. Are income taxes fair?That depends on who is offering the opinion. Democratic candidates for president certainly don’t think so. John Edwards has said, “It’s time to restore fairness to a tax code that has been driven badly out of whack.” Hillary Clinton laments that “middle-class and working families are paying a much higher percentage...
  • (Democratic) Older hill aides shocked by Obamacare prices [Waah alert!]

    11/21/2013 6:01:22 PM PST · by markomalley · 52 replies
    Politico ^ | 11/21/2013 | Jonathan Allen and Jennifer Haberkorn
    Veteran House Democratic aides are sick over the insurance prices they’ll pay under Obamacare, and they’re scrambling to find a cure.“In a shock to the system, the older staff in my office (folks over 59) have now found out their personal health insurance costs (even with the government contribution) have gone up 3-4 times what they were paying before,” Minh Ta, chief of staff to Rep. Gwen Moore (D-Wis.), wrote to fellow Democratic chiefs of staff in an email message obtained by POLITICO. “Simply unacceptable.”In the email, Ta noted that older congressional staffs may leave their jobs because of the...
  • Republicans: Wealthy Already Paying Their Fair Share On Income Taxes (CT battle over tax increase)

    07/27/2009 5:32:36 AM PDT · by raybbr · 17 replies · 456+ views
    Courant.com ^ | 7/27/2009 | By CHRISTOPHER KEATING
    Frustrated Democrats have been asking the same question for months: When are the rich going to pay their fair share? State employee unions are also asking — broadcasting television commercials depicting wealthy fat-cats smoking cigars and brandishing brandy snifters as Republican Gov. M. Jodi Rell has avoided tax increases on the rich and corporations. The unions have spent about $400,000 since February on radio, television and cable advertisements in their campaign for tax fairness. But Sen. L. Scott Frantz, R-Greenwich, says the rich are already paying their fair share. In fact, Greenwich paid more than 14 percent of the state's...
  • Another Obama Tax Hike [Obama favors 41% marginal tax rate for middle class]

    02/04/2010 4:51:56 AM PST · by grundle · 41 replies · 2,439+ views
    Wall St. Journal ^ | February 3, 2010 | Douglas Holtz-Eakin and Alex Brill
    The Senate health-care bill would raise effective marginal tax rates on lower and middle-income singles and families up to 41%. The effective marginal tax rate is the answer to the question: "If I earn $1 more, how much less than $1 do I get to save or spend?" If you can keep that full dollar for your disposal, the effective marginal tax rate is zero. If earning another dollar does not raise your disposable income by even a penny, the effective marginal tax rate is 100 percent. Consider, then, the figure below constructed for a two-earner family with two school-age...
  • Yes, We Can Afford Higher Taxes—Here's Why

    10/25/2012 6:34:29 AM PDT · by Sir Napsalot · 23 replies
    The Atlantic ^ | 10-24-2012 | James Kwak
    .... The huge tax cuts passed under Presidents Reagan and Bush II (surrounding smaller tax increases under Bush I and Clinton), in the short term, contributed to the largest budget deficits in peacetime U.S. history. In the long term, they undermined the federal government's ability to pay for the social insurance programs that make up the largest part of the federal budget: Social Security, Medicare, and Medicaid. But the most remarkable victory of the conservative revolution has been taking tax increases off the policy table, to the point where even letting tax cuts for the very rich expire as scheduled...
  • Tax Loopholes Need To Be Closed [ Ok! Close All Loopholes- GO FLAT TAX! ]

    07/15/2011 4:03:09 PM PDT · by NoLibZone · 23 replies
    post-journal.com ^ | July 15 2011 | /post-journal.com
    A term new to most Americans, "tax expenditures," is being bandied about in Washington as Congress and President Barack Obama discuss ways to bring the federal budget closer to balance. In many discussions it is used interchangeably with a more familiar word, "loopholes." President Obama has been gaining a certain amount of political traction by urging elimination of many loopholes. He and liberals in Congress prefer to focus attention on tax breaks for big corporations and "the rich." That last needs to be qualified by noting that under one of the president's proposals, families earning $250,000 or more a year...
  • Health Reform Threatened by Conservatives' Anti-Tax Fantasy (Washington Post editorial)

    07/29/2009 9:14:22 AM PDT · by SeekAndFind · 22 replies · 625+ views
    Washington comPost ^ | 7/29/2009 | Steven Pearlstein
    Nothing has been more damaging to rational discourse about economic policy than the notion, peddled relentlessly by Republican conservatives and accepted by too many centrist Democrats, that raising taxes is always and everywhere bad for the economy. Mind you, there's very little evidence supporting this view -- it's an article of faith and a convenient way for politicians to pander to their constituents. Reality is a whole lot more complicated. The economic impact of a given tax increase can be positive or negative, depending on who is taxed, how the tax is structured and how the tax revenue is used....
  • How To Undo The Failure Of Obamanomics — Big Tax Cuts

    02/28/2014 12:11:39 PM PST · by Jim Robinson · 18 replies
    IBD ^ | 2/27/2014 | IBD Editorial
    Fiscal Policy: President Obama is putting all his political chips on raising the minimum wage to 10.10 an hour, but so far that issue isn't gaining much political traction. The 500,000 job losses confirmed last week by the Congressional Budget Office certainly were a mortal wound to the legislative push — as well they should be when we have nearly 20 million Americans already unemployed or underemployed. But most Americans have a much bigger concern than raising the minimum wage. Only about 5% of workers make that little (the average is well above $20 an hour), and most receiving the...
  • The Hidden Impact of Obamacare and the Economy

    12/23/2013 7:26:35 AM PST · by LucianOfSamasota · 40 replies
    The Fiscal Times ^ | December 22, 2013 | Jacqueline Leo
    Obamacare has delivered another sucker punch to the middle class. This time it’s sticker shock. Now that a few people can get past the tech problems of HealthCare.gov and actually see the real cost of insurance plans available, they are finding that Affordable Care is big hit to the family budget. And when the family budget gets hit in the solar plexus, guess what happens to consumer spending and the economy. In California, policies for about 900,000 Californians are being canceled because of Obamacare’s mandates and about 2/3rd of these do not qualify for subsidies, according to The Chicago Tribune....
  • Section 9002 of the Healthcare bill raises your reported gross income liability (Vanity)

    03/30/2010 3:01:18 PM PDT · by Sneakyuser · 15 replies · 1,853+ views
    Example: You receive $5000.00 in medical insurance from your employer. At a 25% tax rate you will owe an additional $1250.00 in taxes.
  • The Hidden Obamacare Taxes That Will Crush The Middle Class(news 4 those who chose not to read bill)

    11/14/2013 11:06:18 AM PST · by bestintxas · 31 replies
    moneymorning ^ | 11/14/13
    Get ready to be blindsided by a barrage of new taxes. $1 trillion worth... They'll be coming courtesy of the Affordable Care Act, otherwise known as Obamacare. And they won't just be affecting those who make over $250,000. The bulk of these taxes will be passed on directly to the middle class. That's because while a majority of these "stealth taxes" were designed to be taxes on businesses, they're actually transferred directly to ordinary citizens. They include the investment income surtax, a Medicare payroll tax, even a "tanning tax" on those who utilize indoor tanning services. "Many of those [hidden]...
  • Thanks Obama! Care- Now with 25% Fewer Jobs!

    02/05/2014 5:23:35 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | February 5, 2014 | John Ransom
    The Congressional Budget Office just confessed that the healthcare law passed by Democrats and only Democrats in 2010—you know the one that was supposed to save us so much money?-- is really a dud, a job killer, as we have said all along. And the consequences aren’t just that some guy you don’t know won’t have a job, the consequences are that guys you DO know won’t have jobs, and --in the best case—your tax bill will go up accordingly. The reform package, derisively known as Obamacare, is going to cost the country an additional 2 million jobs by 2017...
  • Obamacare's average monthly cost across U.S.: $328

    09/25/2013 7:03:21 AM PDT · by Idaho_Cowboy · 56 replies
    Yahoo News ^ | September 25, 2013 | Caroline Humer
    Americans will pay an average premium of $328 monthly for a mid-tier health insurance plan when the Obamacare health exchanges open for enrollment next week, and most will qualify for government subsidies to lower that price, the Obama administration said on Wednesday. The figure, based on data for approved insurance plans in 48 states, represents the broadest national estimate for how much Americans will pay for health coverage under President Barack Obama's healthcare reform law next year. The prices of the new plans are at the heart of a political debate over whether they will be affordable enough to attract...
  • Health care costsare going up 72% (IN)

    07/31/2013 8:16:45 AM PDT · by digger48 · 6 replies
    Kokomo Tribune ^ | July 31, 2013 | Stephen W. Robertson
    When Indiana recently announced that individual health insurance costs in Indiana will rise 72 percent on average because of new Affordable Care Act requirements, an immediate outcry followed from some ACA supporters, who accused the Department of Insurance of misrepresenting these numbers in a deliberate attempt to mislead Hoosiers. The DOI provided a lengthy testimony about these numbers before the Indiana Health Finance Commission on July 22, and the DOI stands by its numbers. The fact remains that the Indiana individual health insurance market will see significant increases next year because of ACA. The following is some background about how...
  • New Obamacare fees coming in 2014

    12/26/2013 9:02:28 PM PST · by Innovative · 30 replies
    NY Post ^ | Dec 25, 2013 | S.A. Miller and Geoff Earle
    Here comes the ObamaCare tax bill. The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills. But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.” Under ObamaCare, individual tax filers earning more than $200,000 and families earning more than $250,000 will pay an added 0.9 percent Medicare surtax on top of the existing 1.45 percent Medicare payroll tax. They’ll also pay an extra...
  • Hidden Obamacare taxes will appear on health insurance bills starting in 2014

    12/27/2013 3:46:16 AM PST · by afraidfortherepublic · 23 replies
    The Daily Mail ^ | 12-27-13 | Daily Mail Reporter
    New Obamacare taxes that were previously kept secret have been unveiled by outraged customers who feel betrayed. Residents in many states have yet to feel the change that will come when President Obama's signature health care program which will go into full effect in January. But Blue Cross Blue Shield subscribers in Alabama got a glimpse of the future when they received their latest bill which had a separate line spelling out how much extra they will have to pay as a result of national health insurance. A local paper, AL.com, obtained a picture from a reader who received a...
  • George W. Bush found the solution to America's healthcare crisis seven years ago. Nobody listened

    02/19/2014 6:52:22 PM PST · by SeekAndFind · 25 replies
    Politico Magazine ^ | 02/19/2014 | EDWARD LAZEAR
    The Congressional Budget Office’s warning that the Affordable Care Act will cause employment to fall by the equivalent of 2.5 million full-time workers is just the latest of Obamacare’s negative surprises. Unfortunately, House Minority Leader Nancy Pelosi’s statement that “we have to pass the bill so that you can find out what is in it” is proving to be depressingly accurate. The law’s defenders legitimately argue that it is not sufficient merely to criticize the Affordable Care Act; responsible action requires proposing an alternative. Fortunately, Republicans have a good one, and it’s been hiding in plain sight for the past...