Unemployment tops 10% in 16 states

[Old Rocks]

[

Bill Clinton raised the rate of taxation on the rich in 1993. The Republicans predicted disaster. What we got was the longest sustained boom in the history of this nation.

Thats a lie[/QUOTE]

Well, I guess that you don't know your ass from a hole in the ground. So what was a lie? The tax increase? The economic boom? Or the theatrics of the Gay Old Party?

The Biggest Tax Increase in History - By Jodie T. Allen - Slate Magazine

The Biggest Tax Increase in History
By Jodie T. Allen
Posted Friday, Aug. 16, 1996, at 3:30 AM ET
Republicans say that Bill Clinton imposed the biggest tax increase in American history. Democrats disagree, saying Dole himself is responsible for the biggest tax increase in history: a massive tax bill he engineered as Senate Finance Committee chairman in 1982. Who's right? The answer turns on so many metaphysical questions as to be nearly meaningless. Nevertheless, the issue will be central to the fall campaign.

The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) fashioned by Dole and the Omnibus Budget Reconciliation Act of 1993 (OBRA-93) pushed through Congress by Clinton were projected, at the time of passage, to raise almost exactly the same amounts of revenue. The Dole measure was estimated by the Joint Committee on Taxation to increase the Treasury's take over the next five years by $235 billion. The revenue parts of Clinton's bill were projected to produce $241 billion over five years. But these numbers need to be adjusted.

 

[GHook93]

The exodus from Michigan has little to do with the tax rate. In addition, there are huge tax breaks available for businesses wanting to relocate to Michigan.

I say this as someone who has relocated to and started a business in Michigan in the last 12 months.

Sometimes low taxation and regulations aren't enough. Many times they aren't enough! MI is a mess right now and people know it. When auto boom was going on, the liberals in MI were taxing people like liberals normally do. Now that Detroit is a complete mess they are trying to lure business with lower regulations and taxes. Its a mess right now, but I guarantee Detroit makes a rebound within the next 5-8 yrs. Reasons:
(1) Population, although shrinking, is still there!
(2) The Unions are losing power that they will never get back! Libs don't want to say it, but they are a big culprit in the fall of the Big Three
(3) The minimum value of a home in Detroit is $18K! Even in nice good "White" neighborhoods you can get a home for cheap. That has attracted people who do regional outside sales from their home, writers or people who are able to work from there homes. I know an IT guy at my company moved to Detroit (sold his place in Chicago making $50K on it, would have been $150K a few years back) and bought a place outright for $30K in a nice neighborhood! He works from home and is making the same salary! A little move like that made him a wealthy man!
(4) Corporate Property, including large factories, are available to amazingly cheap prices. Dirt cheap. With not to mention a large amount of out of work laborers that might still be around
(5) Lower taxation and lower regulations do attract businessmen!

I agree, though I think less than 10 years may be optimistic. Pittsburgh is a good example.

See what dumb investor do is buy into an area when its hot and high value. Smart investors buy in areas where its not hot and values are low! Take Wrigleyville back in the 80s you wouldn't want to live there! See it now, property values through the roof, middle class families everywhere and its a happening part of the city!

Thinks changes quickly!

 

[alan1]

This is the weirdest recession I've ever seen. Unemployment is slightly above 10% in the city I live in, yet everywhere I go, I see people spending money like crazy. Everyday on my way home from work I pass a fairly large mall. I can see about half the parking lot from the highway. The parking lot is full everyday. It's just weird.

Odd. We are seeing just the opposite here in Portland, Oregon.

And that's exactly why I say it's the weirdest recession I've ever seen.
Here where I live, the visible signs of a recession aren't there. I know for a fact that due to the unemployment rate alone, this city is in a recession (as is most of the country), but it doesn't look like it. Other areas of the country (like where you live evidently), it's painfully obvious that there is a fucked up economy.
It's just strange.

Oh, and the city has a population exceeding 700,000 and the metro area is over 2 million, so it's not like this is podunckville.

 

[editec]

This is the weirdest recession I've ever seen. Unemployment is slightly above 10% in the city I live in, yet everywhere I go, I see people spending money like crazy. Everyday on my way home from work I pass a fairly large mall. I can see about half the parking lot from the highway. The parking lot is full everyday. It's just weird.

Odd. We are seeing just the opposite here in Portland, Oregon.

And that's exactly why I say it's the weirdest recession I've ever seen.
Here where I live, the visible signs of a recession aren't there. I know for a fact that due to the unemployment rate alone, this city is in a recession (as is most of the country), but it doesn't look like it. Other areas of the country (like where you live evidently), it's painfully obvious that there is a fucked up economy.
It's just strange.

Oh, and the city has a population exceeding 700,000 and the metro area is over 2 million, so it's not like this is podunckville.

Yeah it's obvious that different parts of the nation are more effected than others.

But given how wildly different economies are nationwide otherwise, that's about what you'd expect.

FYI, tourism here in Maine is way down.

The cars still seem to be here, but they're not spending money.

 

[Modbert]

The 15% figure for Michigan is bullshit. It's close to 20.

The real unemployment rate is closer to 20% yes. All unemployment rates that each state gives is lower than the actual rate.

 

[alan1]

Odd. We are seeing just the opposite here in Portland, Oregon.

And that's exactly why I say it's the weirdest recession I've ever seen.
Here where I live, the visible signs of a recession aren't there. I know for a fact that due to the unemployment rate alone, this city is in a recession (as is most of the country), but it doesn't look like it. Other areas of the country (like where you live evidently), it's painfully obvious that there is a fucked up economy.
It's just strange.

Oh, and the city has a population exceeding 700,000 and the metro area is over 2 million, so it's not like this is podunckville.

Yeah it's obvious that different parts of the nation are more effected than others.

But given how wildly different economies are nationwide otherwise, that's about what you'd expect.

FYI, tourism here in Maine is way down.

The cars still seem to be here, but they're not spending money.

Don't get me wrong, I'm not saying we aren't affected. It's just unlike any other recession I've ever seen. Around here, people are still spending money and it's almost as if the 10% unemployment is a myth (and it's not a myth). It's just freaking weird.

 

[pinqy]

The 15% figure for Michigan is bullshit. It's close to 20.

The real unemployment rate is closer to 20% yes. All unemployment rates that each state gives is lower than the actual rate.

The actual rate? What is the technical definition of this rate, who defined it, when did they define it, what is the methodology for calculating it, and what makes it "actual" rather than just a different definition? I've been working with unemployment rates and different definitions of them for over ten years and I've never heard of a single absolute "actual" rate.

 

[sparky]

and you probably never will pingy

it's debated all the time

but to somehow connect taxing the rich to unemployment is a bit disconnected here

employment comes from a strong base where everyone has equal opportunity to prosper

we haven't had that for a while because we've allowed big biz to change the rules here, and effectively make any startups hard to do

and those small mom's & pops have traditonally provided the most empolyment here