Why are the Liberals so bad at math?

[nobull]

First off, the Bush Tax cuts were not tax cuts but simply left the capital gains taxes and interest taxes the same. So Osambo didn't cut crap. He raised payroll tax, and the slew of tax in Obama care including some hidden gems like coinage taxes for people who buy and sell coins, taxes on tanning operations etc.

The biggest obamacare tax are the ones levied against all businesses over $50K in payrolls that eliminate healthcare deductions but also force employers to pay for healthcare for employees.

Then there is the ever popular soak the rich tax which you low income chumps like. That kicks in in lots of ways including in the selling of a home in which the capital gains tax has been increased for homes with capital gains over $250K. So that sucks the investment potential out of real estate. Look how well that's worked.

Also the "tax credits" by obama from clunker junkers to weatherproofing your home are nothing more than tax burden shifters that lay heavy taxes on those that do not itemize.

http://dailycapitalist.com/2010/11/14/debunking-obama-tax-increases/


Under the Obama budget, tax revenues will grow from 14.4% of GDP in 2011 to 20% of GDP in 2021. By comparison, the historical average is only 18% of GDP.

Tax hike lowlights include:

Raising the top marginal income tax rate (at which a majority of small business profits face taxation) from 35% to 39.6%. This is a $709 billion/10 year tax hike

Raising the capital gains and dividends rate from 15% to 20%

Raising the death tax rate from 35% to 45% and lowering the death tax exemption amount from $5 million ($10 million for couples) to $3.5 million. This is a $98 billion/ten year tax hike

Capping the value of itemized deductions at the 28% bracket rate. This will effectively cut tax deductions for mortgage interest, charitable contributions, property taxes, state and local income or sales taxes, out-of-pocket medical expenses, and unreimbursed employee business expenses.

A new means-tested phaseout of itemized deductions limits them even more. This is a $321 billion/ten year tax hike

New bank taxes totaling $33 billion over ten years

New international corporate tax hikes totaling $129 billion over ten years

New life insurance company taxes totaling $14 billion over ten years
Massive new taxes on energy, including LIFO repeal, Superfund, domestic energy manufacturing, and many others totaling $120 billion over ten years

Increasing unemployment payroll taxes by $15 billion over ten years
Taxing management capital gains in an investment partnership (“carried interest”) as ordinary income. This is a tax hike of $15 billion over ten years

A giveaway to the trial lawyers—not letting companies deduct the cost of punitive damages from a lawsuit settlement. This is a tax hike of $300 million over ten years

Increasing tax penalties, information reporting, and IRS information sharing. This is a ten-year tax hike of $20 billion.

Add it all together, and this budget is a ten-year, $1.5 trillion tax hike over present law. That’s $1.5 trillion taken out of the economy and spent on government instead of being used to create jobs.

The “tax relief” in the budget is mostly just an extension of present law, and also some refundable credit outlay spending in the tax code. There is virtually no new tax relief relative to present law in the President’s budget.

Welcome to obama socialism where you are expected to pay for the gov endless foulups by increasing taxes not allowing you to keep more of what you earned.

The Obama idea is that "THEY" give you money which you earned. They let you keep a few crumbs on their way to expanding gov and Obama socialism.

just sayin
doug

I get mad every time I run these figures....yep, no new taxes!

 

[steveox]

But theyre so good at applying and collecting welfare!

 

[PLC1]

Under the Obama budget, tax revenues will grow from 14.4% of GDP in 2011 to 20% of GDP in 2021. By comparison, the historical average is only 18% of GDP.

So, revenues will go from way below average, to slightly above. Let's hope that is accurate, and that the Congress can be made to quit increasing spending to keep pace.

Since the GDP of the US is in the neighborhood of 1.4 x 10 ^ 13 , 14.4% of that is a little over 2 trillion. 20% of the same would be more like 2.8 trillion, or $800B more. If the Congress can cut out another $600B or so, then the budget can once again be balanced.

But, I suppose that is hoping for too much. People would much rather keep spending, limit taxes, live in a fool's paradise and wind up with a debt that can't be paid.

 

[TruthSeeker]

The U.S. economy has already reached critical mass. The collapse has already begun.

Hyper-inflation is just around the corner, if you ignore the bogus government statistics. Checked food prices and gas prices lately?

Unemployment is over 20%, if you ignore the bogus government statistics.

The U.S. dollar is already being replaced as the worldwide reserve currency.

The housing market is dead. More than 25% of home sales today are foreclosures and short sales.

Those of you who are holding paper and ink better trade it in for silver and/or gold before it's too late.

Those of you who are invested in the stock market better get the hell out before that house of cards collapses.

Those of you who are public employees and are counting on that retirement pension better start stockpiling extra food and fuel, and pay off your debts.

 

[nobull]

The U.S. economy has already reached critical mass. The collapse has already begun.

Hyper-inflation is just around the corner, if you ignore the bogus government statistics. Checked food prices and gas prices lately?

Unemployment is over 20%, if you ignore the bogus government statistics.

The U.S. dollar is already being replaced as the worldwide reserve currency.

The housing market is dead. More than 25% of home sales today are foreclosures and short sales.

Those of you who are holding paper and ink better trade it in for silver and/or gold before it's too late.

Those of you who are invested in the stock market better get the hell out before that house of cards collapses.

Those of you who are public employees and are counting on that retirement pension better start stockpiling extra food and fuel, and pay off your debts.

Truth..and here is a big part of the problem..did you know more Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?

Every state in America today except for two—Indiana and Wisconsin—has more government workers on the payroll than people manufacturing industrial goods. Consider California, which has the highest budget deficit in the history of the states. The not-so Golden State now has an incredible 2.4 million government employees—twice as many as people at work in manufacturing. New Jersey has just under two-and-a-half as many government employees as manufacturers. Florida's ratio is more than 3 to 1. So is New York's.

Even Michigan, at one time the auto capital of the world, and Pennsylvania, once the steel capital, have more government bureaucrats than people making things. The leaders in government hiring are Wyoming and New Mexico, which have hired more than six government workers for every manufacturing worker.

Now it is certainly true that many states have not typically been home to traditional manufacturing operations. Iowa and Nebraska are farm states, for example. But in those states, there are at least five times more government workers than farmers. West Virginia is the mining capital of the world, yet it has at least three times more government workers than miners. New York is the financial capital of the world—at least for now. That sector employs roughly 670,000 New Yorkers. That's less than half of the state's 1.48 million government employees.

Don't expect a reversal of this trend anytime soon. Surveys of college graduates are finding that more and more of our top minds want to work for the government. Why? Because in recent years only government agencies have been hiring, and because the offer of near lifetime security is highly valued in these times of economic turbulence. When 23-year-olds aren't willing to take career risks, we have a real problem on our hands. Sadly, we could end up with a generation of Americans who want to work at the Department of Motor Vehicles.

 

[Gipper]

Truth..and here is a big part of the problem..did you know more Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?

Every state in America today except for two—Indiana and Wisconsin—has more government workers on the payroll than people manufacturing industrial goods. Consider California, which has the highest budget deficit in the history of the states. The not-so Golden State now has an incredible 2.4 million government employees—twice as many as people at work in manufacturing. New Jersey has just under two-and-a-half as many government employees as manufacturers. Florida's ratio is more than 3 to 1. So is New York's.

Even Michigan, at one time the auto capital of the world, and Pennsylvania, once the steel capital, have more government bureaucrats than people making things. The leaders in government hiring are Wyoming and New Mexico, which have hired more than six government workers for every manufacturing worker.

Now it is certainly true that many states have not typically been home to traditional manufacturing operations. Iowa and Nebraska are farm states, for example. But in those states, there are at least five times more government workers than farmers. West Virginia is the mining capital of the world, yet it has at least three times more government workers than miners. New York is the financial capital of the world—at least for now. That sector employs roughly 670,000 New Yorkers. That's less than half of the state's 1.48 million government employees.

Don't expect a reversal of this trend anytime soon. Surveys of college graduates are finding that more and more of our top minds want to work for the government. Why? Because in recent years only government agencies have been hiring, and because the offer of near lifetime security is highly valued in these times of economic turbulence. When 23-year-olds aren't willing to take career risks, we have a real problem on our hands. Sadly, we could end up with a generation of Americans who want to work at the Department of Motor Vehicles.

This is written by Stephen Moore and published in the Wall Street Journal last week.
http://online.wsj.com/article/SB10001424052748704050204576219073867182108.html?KEYWORDS=stephen+moore

I wonder if liberals see anything wrong with this unbelievable deficit spending to support public union employees. I would guess they would say just raise taxes and that will fix everything.

 

[TruthSeeker]

Great points, "nobull". I live in the state of Maine. Guess who the largest employer in the state of Maine is? You got it. The State of Maine.

I am sure this is the case in almost every state. Let's face it. The largest employers in the United States are the local, state, and federal governments.

Combine the massive public employee hiring bonanza with the decades-long efforts by all levels of government to destroy private businesses by regulating and taxing them to extinction, and the end result is what you see now.

What has happened is exactly what Nikita Kruschev stated 50 years ago would happen: "We will conquer the United States without firing a shot".

 

[pocketfullofshells]

Great points, "nobull". I live in the state of Maine. Guess who the largest employer in the state of Maine is? You got it. The State of Maine.

I am sure this is the case in almost every state. Let's face it. The largest employers in the United States are the local, state, and federal governments.

Combine the massive public employee hiring bonanza with the decades-long efforts by all levels of government to destroy private businesses by regulating and taxing them to extinction, and the end result is what you see now.

What has happened is exactly what Nikita Kruschev stated 50 years ago would happen: "We will conquer the United States without firing a shot".

thats odd, that when you add up all teachers, Fire, Police, ext for a whole state...that it may add up to more then the biggest company. What they should do clearly, is find out what company employs the most people...then if it happens to be say...8000 ( don't worry thats a trick, as 8000 is the highest amount employed in main..and its the U of Main. ( 7000 is the National Gaurd)

so now 8000 jobs...out of all those must fit under that amount to make it so they state does not end up employing the most...so you get rid of the guard, and then just have 1000 people do all police fire and teaching and pretend the evrything else the state has to do does not realy exist....

http://www.acinet.org/acinet/oview6.asp?printer=&next=oview6&id=&nodeid=12&stfips=23&group=1

 

[nobull]

thats odd, that when you add up all teachers, Fire, Police, ext for a whole state...that it may add up to more then the biggest company. What they should do clearly, is find out what company employs the most people...then if it happens to be say...8000 ( don't worry thats a trick, as 8000 is the highest amount employed in main..and its the U of Main. ( 7000 is the National Gaurd)

so now 8000 jobs...out of all those must fit under that amount to make it so they state does not end up employing the most...so you get rid of the guard, and then just have 1000 people do all police fire and teaching and pretend the evrything else the state has to do does not realy exist....

http://www.acinet.org/acinet/oview6.asp?printer=&next=oview6&id=&nodeid=12&stfips=23&group=1

The employment trends described here are explained in part by hugely beneficial productivity improvements in such traditional industries as farming, manufacturing, financial services and telecommunications. These produce far more output per worker than in the past. The typical farmer, for example, is today at least three times more productive than in 1950.

Where are the productivity gains in government? Consider a core function of state and local governments: schools. Over the period 1970-2010, school spending per pupil, adjusted for inflation, doubled, while standardized achievement test scores were flat. Over roughly that same time period, public-school employment doubled per student, according to a study by researchers at the University of Washington. That is what economists call negative productivity.

But education is an industry where we measure performance backwards: We gauge school performance not by outputs, but by inputs. If quality falls, we say we didn't pay teachers enough or we need smaller class sizes or newer schools. If education had undergone the same productivity revolution that manufacturing has, we would have half as many educators, smaller school budgets, and higher graduation rates and test scores.

The same is true of almost all other government services. Mass transit spends more and more every year and yet a much smaller share of Americans use trains and buses today than in past decades. One way that private companies spur productivity is by firing underperforming employees and rewarding excellence. In government employment, tenure for teachers and near lifetime employment for other civil servants shields workers from this basic system of reward and punishment. It is a system that breeds mediocrity, which is what we've gotten.

Most reasonable steps to restrain public-sector employment costs are smothered by the unions. Study after study has shown that states and cities could shave 20% to 40% off the cost of many services—fire fighting, public transportation, garbage collection, administrative functions, even prison operations—through competitive contracting to private providers. But unions have blocked many of those efforts. Public employees maintain that they are underpaid relative to equally qualified private-sector workers, yet they are deathly afraid of competitive bidding for government services.

President Obama says we have to retool our economy to "win the future." The only way to do that is to grow the economy that makes things, not the sector that takes things.

 

[Dr.Who]

The U.S. economy has already reached critical mass. The collapse has already begun.

Hyper-inflation is just around the corner, if you ignore the bogus government statistics. Checked food prices and gas prices lately?

Unemployment is over 20%, if you ignore the bogus government statistics.

The U.S. dollar is already being replaced as the worldwide reserve currency.

The housing market is dead. More than 25% of home sales today are foreclosures and short sales.

Those of you who are holding paper and ink better trade it in for silver and/or gold before it's too late.

Those of you who are invested in the stock market better get the hell out before that house of cards collapses.

Those of you who are public employees and are counting on that retirement pension better start stockpiling extra food and fuel, and pay off your debts.

You can't eat silver and gold but you do need to find a buyer for it so that you can get food.

 

[Dr.Who]

thats odd, that when you add up all teachers, Fire, Police, ext for a whole state...that it may add up to more then the biggest company. What they should do clearly, is find out what company employs the most people...then if it happens to be say...8000 ( don't worry thats a trick, as 8000 is the highest amount employed in main..and its the U of Main. ( 7000 is the National Gaurd)

so now 8000 jobs...out of all those must fit under that amount to make it so they state does not end up employing the most...so you get rid of the guard, and then just have 1000 people do all police fire and teaching and pretend the evrything else the state has to do does not realy exist....

http://www.acinet.org/acinet/oview6.asp?printer=&next=oview6&id=&nodeid=12&stfips=23&group=1

It would be helpful to reduce the size of government. I do not think a quota system like you have described would be a good idea.

 

[Dr.Who]

Broad generalizations about liberals and math are not productive.

 

[Phoenix68]

First off, the Bush Tax cuts were not tax cuts but simply left the capital gains taxes and interest taxes the same.

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Bush's tax cuts `sounded too good to be true' for Democrats
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Tax Cuts Don't Boost Revenues
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Bush Era Tax Cuts Didn't Fix Economy
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[Phoenix68]

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[Scooby]

When it comes to being bad at math, no one will ever surpass this whopper from the liberal dipshits at MSNBC.

$500 million divided by 327 million = $1 million!!!