Obama Tax Hike would kill jobs, economy

Discussion in 'Politics' started by Wiseacre, Jul 18, 2012.

  1. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    snippet:

    A new study conducted by Ernst and Young proves conclusively that the President’s tax increase would be devastating to the economy and jobs.

    The study finds that, if Congress misguidedly adopted President Obama’s plan to raise taxes on job creators by allowing the Bush-era tax policies to expire for incomes over $200,000 ($250,000 for married filers), the economy and jobs would suffer terribly:

    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; and real after-tax wages would fall by 1.8 percent.

    There are almost 13 million Americans out of work today. President Obama’s tax increase would needlessly add almost three-quarters of a million people to that already much too large number. Even those with jobs wouldn’t escape the pain of President Obama’s tax increase, as they would see their wages suffer.

    Ernst and Young: Obama
     
  2. RoadVirus
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    RoadVirus <insert pithy title here>

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    Like Obama cares about that!
     
  3. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Yeah, but by God things will be more fair!
     
  4. Lakhota
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    Lakhota Diamond Member

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  5. NYcarbineer
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    NYcarbineer Diamond Member

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    So are you acknowledging that the only way we can maintain employment at these levels is to continue running these size deficits?
     
  6. WillowTree
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    WillowTree Diamond Member

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    We'll find out soon. cause obamatax is the highest tax increase in AMERICAN history.
     
  7. NYcarbineer
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    NYcarbineer Diamond Member

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    That's already been proven false you dried up old leech. Get a job.
     
  8. Jroc
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    Jroc יעקב כהן Supporting Member

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    http://www.nfib.com/LinkClick.aspx?fileticket=OMV7uZczVaM=&tabid=1083
     
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  9. occupied
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    occupied Gold Member

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    You mean the republican designed election year wedge issue that they did not have the guts or the will to settle like reasonable people last year? You can blame this shit on Obama but he would have probably signed anything that landed on his desk just to put it behind him.
     

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