IF higher taxes will create jobs, why did the stimulus fail?

[Jarhead]

I cannot put it any better

It’s official: Obama’s job stimulus program failed
TAGS: Examiner editorial failure job stimulus President Barack Obama unemployment rate
COMMENTS (0) SHARE PRINT
By: Examiner Editorial 01/22/11 10:00 PM
Democrats have lambasted Republicans for years for believing in “Voodoo economics.” Well, the evidence is mounting that economic superstition is alive and well in the nation’s political circles, though it has nothing to do with a fondness for tax cuts.

It’s instead the crazy belief that the government can spend its way to prosperity for the rest of us. Analyzing this conclusion, the House Ways and Means Committee recently released a report titled “It’s Official: On Unemployment and Jobs, Democrats’ 2009 Stimulus Was a Huge Failure.”

The Ways and Means report provides a number of striking reminders about the predictions the White House made in January 2009 while urging the passage of their $814 billion Keynesian spending bill. By January 2011, the stimulus bill was supposed to have lowered the unemployment rate to 7 percent. It now stands at 9.4 percent, and the report notes that “the unemployment rate would be 11.3 percent if it included all the ‘invisible unemployed’ — American workers who have simply given up looking for work.” The report also said that the stimulus was supposed to create 3.7 million jobs by now, for a total of 137.6 million jobs in the American economy. Currently, there are 130.7 million jobs. Since the stimulus’ passage, 47 of the 50 states have lost jobs; overall, the private sector has seen 1.8 million jobs disappear.

Note as well that unemployment currently is slightly above what the White House predicted it would be if the Obama stimulus program was not passed as emergency legislation. Any honest assessment of the stimulus has to consider the possibility that flawed economics, kickbacks to unions and other Democratic special interests, corruption and an inefficient bureaucracy simply swallowed all the jobs for which those billions were supposed to pay. In fact, job creation exceeded the White House’s expectations in only one area: The District of Columbia created almost twice as many jobs as the White House anticipated. In other words, thanks to the stimulus, the only area growing new jobs is the federal government.



Read more at the San Francisco Examiner: It

The stimulus bill was 40% tax cuts.

So?
It failed. Period. End of conversation.
Obama, Pelosi and Reid did not say "it will not be successful becuase 40% of it is tax cuts"
To the contrary, they heralded the plan.
And it did nothing that it claimed it would do.

Sure.....some are tossing some numbers of growth around...

But lets be real....if the plan was marketed this way...

"unemployment will still top 10% before it shows signs of recovery"
"there will be a couple of hundred private secotr jobs created over the next 2.5 years"
"unemployment will teeter between 9 and 10% for a minimum of 2.5 years"

I dont think it would have passed.

Thus...it is an utrter failure.

 

[Mr.Nick]

The private sector has been creating jobs for well over a year.

8537 to start with I wish you had more respect for our president
How can you claim a job has been created when that same job was lost?
were not even close to being where we where in 2008


You surely are not trying to claim that a 6 million job deficit can be ignored just because BHO has a 1 trillion dollar failed stimulus attached to him?
No, No way

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

Bush sat there for two years with Pelosi's communism - he respected democracy and signed the democratically passed bills..

I respect Bush and hate Bush at the same time for not vetoing all that bullshit.. He respected democracy but at the same time all that legislation destroyed jobs...

All the 110th and 111th did was spend money.

Those progressive motherfuckers were out of control and Bush signed all that nonsense they passed.

 

[Jarhead]

No one can prove the stimulus failed because no one can demonstrate what would have happened had there been no stimulus.

True...

You stick with that one NYCarbineer..

It works well for you in a debate.

 

[Jarhead]

Funny, every chart I find shows the t op rate @ 35% since 2003.... it was onl 3.6% higher the years before.

So we had those low tax rates going into the worst recession since the Depression...

...which means they didn't work.

"worst recession since the great depression"

Do you ever think for yourself?

I have seen unemployment at higher numbers in my time.
Prime rates topping 20%
Markets do mucgh more poorly in other recessions...and to the contrary, this recession, the markets fared fairly well.

Yet you still regurgitate that campaign slogan....."worst recession since the great depression"

You show how niave you are with lines like that NYCarbineer.

Very unbecoming of you.

 

[JRK]

"In terms of promoting economic growth, the Bush tax cuts have been a miserable failure.

Under George W. Bush, U.S. GDP growth averaged 2.1 percent a year. Since the end of World War II, the country has never experienced such low economic growth during an eight-year period. And if you exclude the war demobilization of 1946, when U.S. government spending fell by two-thirds and GDP fell by 10.9 percent, Bush had the worst economic record since Herbert Hoover."

Read more: The Bush Tax Cuts: Failure Analysis by David Fiderer ? Failure magazine |

What?
You comparing 20 years of record growth with 40 million jobs created to post 9-11 2003 tax cuts in 2008
Economic growth?
lets do not forget that the first year of his admin was fighting back from Clinton's recession and the last year of his term dealing with the largest recession in this countries history that had nothing to do with him or his policies
You liberals blow me away
You right an article about tax policy and GWB while this country has lost 6 million jobs and spent 1 trillion dollars we did not have doing it like 3-4000 dollars a year on my tax bill caused it
Are you joking?
what did GWB tax policy have to do with the housing crises?

ARE U NUTS?

 

[JRK]

8537 to start with I wish you had more respect for our president
How can you claim a job has been created when that same job was lost?
were not even close to being where we where in 2008


You surely are not trying to claim that a 6 million job deficit can be ignored just because BHO has a 1 trillion dollar failed stimulus attached to him?
No, No way

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

Bush sat there for two years with Pelosi's communism - he respected democracy and signed the democratically passed bills..

I respect Bush and hate Bush at the same time for not vetoing all that bullshit.. He respected democracy but at the same time all that legislation destroyed jobs...

All the 110th and 111th did was spend money.

Those progressive motherfuckers were out of control and Bush signed all that nonsense they passed.

He did not sign the 09 budget
BHO did 3/2009

 

[8537]

8537 to start with I wish you had more respect for our president
How can you claim a job has been created when that same job was lost?
were not even close to being where we where in 2008


You surely are not trying to claim that a 6 million job deficit can be ignored just because BHO has a 1 trillion dollar failed stimulus attached to him?
No, No way

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

 

[JRK]

The private sector has been creating jobs for well over a year.

8537 to start with I wish you had more respect for our president
How can you claim a job has been created when that same job was lost?
were not even close to being where we where in 2008


You surely are not trying to claim that a 6 million job deficit can be ignored just because BHO has a 1 trillion dollar failed stimulus attached to him?
No, No way

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

GOD
its about the 1 trillion dollars
hell no I dont blame him for those jobs lost
I blame him for those jobs not coming back
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Jobs jobs jobs

Power generating facilities

Do you know how many people 1 trillion dollars will pay in 2 years @ 40,000 a year?

 

[Mr.Nick]

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

Bush sat there for two years with Pelosi's communism - he respected democracy and signed the democratically passed bills..

I respect Bush and hate Bush at the same time for not vetoing all that bullshit.. He respected democracy but at the same time all that legislation destroyed jobs...

All the 110th and 111th did was spend money.

Those progressive motherfuckers were out of control and Bush signed all that nonsense they passed.

He did not sign the 09 budget
BHO did 3/2009

The budget is about as meaningless as our currency..

The liberal majority congress (110th and 111th) spent like little kids in a candy store.

At least presently the House isn't even authorizing spending on the majority of the spending bills they passed.

 

[Mr.Nick]

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

List it???

They only passed like 3,000 bills, most of which were either spending bills or HR or SR's..

THOMAS (Library of Congress)

There you go, indulge your self with the 110th and 111ths lunacy.

They were either spending money, regulating or passing retarded resolutions...

Nancy Pelosi is one of the most delusional crackpots ever to hold public office.

 

[Soggy in NOLA]

No one can prove the stimulus failed because no one can demonstrate what would have happened had there been no stimulus.

OMG...

 

[JRK]

I cannot put it any better

It’s official: Obama’s job stimulus program failed
TAGS: Examiner editorial failure job stimulus President Barack Obama unemployment rate
COMMENTS (0) SHARE PRINT
By: Examiner Editorial 01/22/11 10:00 PM
Democrats have lambasted Republicans for years for believing in “Voodoo economics.” Well, the evidence is mounting that economic superstition is alive and well in the nation’s political circles, though it has nothing to do with a fondness for tax cuts.

It’s instead the crazy belief that the government can spend its way to prosperity for the rest of us. Analyzing this conclusion, the House Ways and Means Committee recently released a report titled “It’s Official: On Unemployment and Jobs, Democrats’ 2009 Stimulus Was a Huge Failure.”

The Ways and Means report provides a number of striking reminders about the predictions the White House made in January 2009 while urging the passage of their $814 billion Keynesian spending bill. By January 2011, the stimulus bill was supposed to have lowered the unemployment rate to 7 percent. It now stands at 9.4 percent, and the report notes that “the unemployment rate would be 11.3 percent if it included all the ‘invisible unemployed’ — American workers who have simply given up looking for work.” The report also said that the stimulus was supposed to create 3.7 million jobs by now, for a total of 137.6 million jobs in the American economy. Currently, there are 130.7 million jobs. Since the stimulus’ passage, 47 of the 50 states have lost jobs; overall, the private sector has seen 1.8 million jobs disappear.

Note as well that unemployment currently is slightly above what the White House predicted it would be if the Obama stimulus program was not passed as emergency legislation. Any honest assessment of the stimulus has to consider the possibility that flawed economics, kickbacks to unions and other Democratic special interests, corruption and an inefficient bureaucracy simply swallowed all the jobs for which those billions were supposed to pay. In fact, job creation exceeded the White House’s expectations in only one area: The District of Columbia created almost twice as many jobs as the White House anticipated. In other words, thanks to the stimulus, the only area growing new jobs is the federal government.



Read more at the San Francisco Examiner: It

The stimulus bill was 40% tax cuts.

So?
It failed. Period. End of conversation.
Obama, Pelosi and Reid did not say "it will not be successful becuase 40% of it is tax cuts"
To the contrary, they heralded the plan.
And it did nothing that it claimed it would do.

Sure.....some are tossing some numbers of growth around...

But lets be real....if the plan was marketed this way...

"unemployment will still top 10% before it shows signs of recovery"
"there will be a couple of hundred private secotr jobs created over the next 2.5 years"
"unemployment will teeter between 9 and 10% for a minimum of 2.5 years"

I dont think it would have passed.

Thus...it is an utrter failure.

The stimulus was 33% tax cuts
God stop lying
lets not forget that Obama used tarp also
it was 1 trillion dollars, so using that it was close to 25%
American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia

 

[Soggy in NOLA]

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

List it???

They only passed like 3,000 bills, most of which were either spending bills or HR or SR's..

THOMAS (Library of Congress)

There you go, indulge your self with the 110th and 111ths lunacy.

They were either spending money, regulating or passing retarded resolutions...

Nancy Pelosi is one of the most delusional crackpots ever to hold public office.

Well, there's McKinny and the "Guam's gonna flip over" guy. And let's not forget Moonbeam Kucinich.

 

[Skull Pilot]

If cutting taxes for the rich creates jobs why is unemployment still where it is?

We cut taxes on the rich?

yes.

Actually Obama kept taxes at the same level they had been at for the past 10 years but he did put a trillion dollars into the economy, which is more than any tax hike on rich people would have and unemployment is still at 9+%

So is it your opinion that raising taxes on the rich, even if it would have been a smaller amount of money than the stimulus, would have somehow yielded a better outcome?

 

[JRK]

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

I can answer that
No
But let me also add there was no legislation passed from 07-10 that helped create any jobs either

 

[JRK]

No one can prove the stimulus failed because no one can demonstrate what would have happened had there been no stimulus.

OMG...

Soggy does that person know how many people could make 40,000 a year if you had 1 trillion dollars
I think for 2 years its 12.5 million, I did it with excel twice and thats what I keep getting
We have lost 6 million jobs in those 2 years

 

[JRK]

We cut taxes on the rich?

yes.

Actually Obama kept taxes at the same level they had been at for the past 10 years but he did put a trillion dollars into the economy, which is more than any tax hike on rich people would have and unemployment is still at 9+%

So is it your opinion that raising taxes on the rich, even if it would have been a smaller amount of money than the stimulus, would have somehow yielded a better outcome?

can anyone explain to me how raising the taxes on the "rich"
let me start there
can anyone define for me what does a rich person make? worth?
and some how after the 1 trillion dollars all we had to do was raise the taxes on the "rich" and here we go
Jobs galore

 

[The Rabbi]

Understand economics?

Ha!

I have a passing familiarity with the topic.

Translation: I can spell the word. Usually. With spell check.

The question is dumb. Of course he has no familiarity with economics. Anyone who thnks borrowing money to open a business is the exact same thing as borrowing money to tip waiters hasn't got a clue. 8537 consistently proves post after post that he totally at sea, launching one howler after another.

 

[JRK]

Understand economics?

Ha!

I have a passing familiarity with the topic.

Translation: I can spell the word. Usually. With spell check.

The question is dumb. Of course he has no familiarity with economics. Anyone who thnks borrowing money to open a business is the exact same thing as borrowing money to tip waiters hasn't got a clue. 8537 consistently proves post after post that he totally at sea, launching one howler after another.

He is the very reason Obama got elected to start with and now many like him do not want to admit what a mistake they have made
The job loss from late 08 till present was the makings of greedy people
the consumer
the banker
the hedge fund(s)

Where I have an issue with Obama is he never let a crises go to waste
he turned that event into the creation of a 1 trillion dollar slush fund while tax payer who did it right (like me) got 8537 to tell me why I should be so thankful and why I should blame Ol W on this mess

 

[The Rabbi]

Job loss occurred because there is a business cycle and we reached the top.
Had we done nothing, we would have been far better off, with a more robust recovery that would have brought many more jobs to this country.
Instead we have a grossly expensive mess that is riddled with fraud and abuse. People screamed about FEMA after Katrina and how much waste there was. That was nothing compared to the stimulus, which of course the MSM hasn't really reported.