Page 1 of 2 12 LastLast
Results 1 to 20 of 22

Thread: Ernst and Young: Higher Taxes to lead to 710,000 jobs lost

  1. #1
    Silver
    Reputation
    10
    Join Date
    Aug 2012
    Location
    2012 MVP Poster
    Posts
    607
    Load Metric
    10305888

    Ernst and Young: Higher Taxes to lead to 710,000 jobs lost

    The Ernst and Young study predicts that the tax increases will slow investment, resulting in slower growth in employment and wages. Compared to their modelís baseline predictions, the higher-tax economy would have 0.33 percentage point lower employment after 10 years and would asymptotically approach 0.5 percentage point lower employment. In terms of todayís population, that would be 710,000 fewer people holding jobs. In addition, real wages for those with jobs would decrease by 1.8 percent on average.

    Because the effects take place over time, they may seem small in any given year, but they build. Long-run models donít focus on the timing with which effects come into play. However, based on their 10-year figure, a back-of-the-envelope calculation shows that the model probably predicts more than 2.6 million job-years lost in the first decade. If strong effects of the tax increase are felt immediately, as the second study suggests, then the lost job-years in the first decade might be around 3.4 million


    Here is another gem from the study:

    The Ernst and Young study predicts that long-run GDP with the higher tax rates would be 1.3 percent smaller.

    All this demonstrates once again, is Obama has never held a private sector job. All he has done is basically run for higher office. Oh, there is another study out as well, that one of the reasons unemployment is persistently high is because the benefits people receive staying at home outweigh what they would receive going for a lower paying job.

    In all forms of socialism, the rich definitely get poorer. But the poor also get poorer. It's a failed experiment and the scrap heap of history is littered with them.

    http://blog.heritage.org/2012/11/13/...ate-increases/

  2. #2
    NoFraud Poker Room Manager Belly Buster's Avatar
    Reputation
    1339
    Join Date
    Mar 2012
    Location
    England
    Posts
    3,571
    Load Metric
    10305888
    Almost all Western economies were living beyond their means during the 2000s. Lower tax and unemployment were an illusion created by a boom fuelled by profligate lending.

    Now is payback time.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  3. #3
    Diamond shortbuspoker's Avatar
    Reputation
    863
    Join Date
    Mar 2012
    Posts
    5,043
    Load Metric
    10305888
    http://www.massdevice.com/news/stryk...d-med-tech-tax

    Stryker Corp. (NYSE:SYK) officials said the company plans to cut 5 percent of its workforce over concerns about the impending 2.3 percent medical device tax prescribed by President Barack Obama's health care overhaul.

    "Here we are, one of the greatest industries in the country, and we're staring down on January 1st, 2013 and the addition of a 2.3 percent excise tax, while meanwhile on the other side all the discussion in Washington is about creating jobs," he said.
    Given it's only 86 people that will get the boot, but it suck for those 86. It is also of note that

    http://www.breitbart.com/Big-Governm...e-to-ObamaCare

    Jon Stryker is heir to the Stryker Corporation, one of the largest medical device and equipment manufacturers in the world. Strykerís grandfather was the surgeon who invented the mobile hospital bed. The company now sells $8.3 billion worth of hospital beds, artificial joints, medical cameras, and medical software every year.
    Stryker, a member of the Forbes 400 list, was one of the top five donors to the Obama campaign. Having donated $2 million to the Priorities USA Action super PAC, Stryker also gave $66,000 in contributions to Obama and the Democrat Party.
    Good to see that Obama appreciated his support.

  4. #4
    Bronze NotAPedophile's Avatar
    Reputation
    10
    Join Date
    Mar 2012
    Posts
    84
    Load Metric
    10305888
    Quote Originally Posted by RobbieBensonFan View Post
    The Ernst and Young study predicts that the tax increases will slow investment, resulting in slower growth in employment and wages. Compared to their modelís baseline predictions, the higher-tax economy would have 0.33 percentage point lower employment after 10 years and would asymptotically approach 0.5 percentage point lower employment. In terms of todayís population, that would be 710,000 fewer people holding jobs. In addition, real wages for those with jobs would decrease by 1.8 percent on average.

    Because the effects take place over time, they may seem small in any given year, but they build. Long-run models donít focus on the timing with which effects come into play. However, based on their 10-year figure, a back-of-the-envelope calculation shows that the model probably predicts more than 2.6 million job-years lost in the first decade. If strong effects of the tax increase are felt immediately, as the second study suggests, then the lost job-years in the first decade might be around 3.4 million


    Here is another gem from the study:

    The Ernst and Young study predicts that long-run GDP with the higher tax rates would be 1.3 percent smaller.

    All this demonstrates once again, is Obama has never held a private sector job. All he has done is basically run for higher office. Oh, there is another study out as well, that one of the reasons unemployment is persistently high is because the benefits people receive staying at home outweigh what they would receive going for a lower paying job.

    In all forms of socialism, the rich definitely get poorer. But the poor also get poorer. It's a failed experiment and the scrap heap of history is littered with them.

    http://blog.heritage.org/2012/11/13/...ate-increases/
    The trend is your friend, brotha.....

    Honestly, do you look for truth and facts when you read the news, and try to form your own conclusions. Or do you just gobble Fox News talking points hook line and sinker? Let that marinate for a few. Try to come up with some real conclusions of your own.

  5. #5
    Banned
    Reputation
    10
    Join Date
    Mar 2012
    Location
    New England. Go Pats!
    Posts
    1,501
    Load Metric
    10305888
    Quote Originally Posted by RobbieBensonFan View Post
    The Ernst and Young study predicts that the tax increases will slow investment, resulting in slower growth in employment and wages. Compared to their modelís baseline predictions, the higher-tax economy would have 0.33 percentage point lower employment after 10 years and would asymptotically approach 0.5 percentage point lower employment. In terms of todayís population, that would be 710,000 fewer people holding jobs. In addition, real wages for those with jobs would decrease by 1.8 percent on average.

    Because the effects take place over time, they may seem small in any given year, but they build. Long-run models donít focus on the timing with which effects come into play. However, based on their 10-year figure, a back-of-the-envelope calculation shows that the model probably predicts more than 2.6 million job-years lost in the first decade. If strong effects of the tax increase are felt immediately, as the second study suggests, then the lost job-years in the first decade might be around 3.4 million


    Here is another gem from the study:

    The Ernst and Young study predicts that long-run GDP with the higher tax rates would be 1.3 percent smaller.

    All this demonstrates once again, is Obama has never held a private sector job. All he has done is basically run for higher office. Oh, there is another study out as well, that one of the reasons unemployment is persistently high is because the benefits people receive staying at home outweigh what they would receive going for a lower paying job.

    In all forms of socialism, the rich definitely get poorer. But the poor also get poorer. It's a failed experiment and the scrap heap of history is littered with them.

    http://blog.heritage.org/2012/11/13/...ate-increases/
    The US economy is toast.

  6. #6
    Platinum DirtyB's Avatar
    Reputation
    662
    Join Date
    Mar 2012
    Posts
    2,926
    Load Metric
    10305888
    The Congressional Budget Office, which is immensely more capable of doing this type of analysis than an accounting firm, disagrees.

    http://www.reuters.com/article/2012/...8A71D020121109

  7. #7
    Platinum Muck Ficon's Avatar
    Reputation
    531
    Join Date
    Mar 2012
    Posts
    3,721
    Load Metric
    10305888
    Quote Originally Posted by NotAPedophile View Post
    Honestly, do you look for truth and facts when you read the news, and try to form your own conclusions. Or do you just gobble Fox News talking points hook line and sinker? Let that marinate for a few. Try to come up with some real conclusions of your own.
    Quote Originally Posted by Baron Von Strucker View Post
    Quote Originally Posted by kmksmkn View Post
    Does anybody know if u can get a work visa for playing online poker in the UK
    I have had Issues with credit cards in Europe
    Quote Originally Posted by Tyde View Post
    you're more consumed with accumulating wealth than achieving spiritual enlightenment
    Quote Originally Posted by tgull View Post
    Getting a little surf and turf tonight. In my world that is Sea Bass with a nice lobster tail on the side. And grilled asparagus. It's nice having money.

  8. #8
    Platinum DirtyB's Avatar
    Reputation
    662
    Join Date
    Mar 2012
    Posts
    2,926
    Load Metric
    10305888
    200 of the richest people in America also disagree.

    http://patrioticmillionaires.org/

    We are writing to ask you to do the right thing for our country and REJECT ANY Super Committee deal that does not raise tax rates on incomes over $1 million to AT LEAST 39.6%, REGARDLESS of how many deductions are eliminated.

    Private jets shouldnít have been tax deductible in the first place.
    Thank you,

    Patriotic Millionaires and Patriotic Americans

  9. #9
    Diamond Walter Sobchak's Avatar
    Reputation
    1243
    Join Date
    Aug 2012
    Location
    Bowling Alley
    Posts
    8,875
    Load Metric
    10305888
    Quote Originally Posted by cleatus View Post
    Quote Originally Posted by RobbieBensonFan View Post
    blah
    you're a shmeggegie

    Name:  
Views: 
Size:
    +1 for the Yiddish

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

  10. #10
    Walking Image Library
    Reputation
    387
    Join Date
    Mar 2012
    Posts
    1,627
    Load Metric
    10305888
    Secrets to Jobs

    I understand that President Obama is going to meet with Mitt Romney. In the interest of cooperation and solving the problem of huge unemployment numbers, a topic prominent in the election campaign rhetoric, Obama should ask Romney to explicitly explain what all those 12 million jobs are Ė you know, the ones resulting from his secret economic plan if he had been elected.
    Modified: 11/14/12 04:30:22 PM

    Jim Beckford

    Read more here: http://www.newsobserver.com/opinion/...#storylink=cpy

  11. #11
    Silver
    Reputation
    10
    Join Date
    Aug 2012
    Location
    2012 MVP Poster
    Posts
    607
    Load Metric
    10305888
    DELETED FROM NET
    Last edited by RobbieBensonFan; 11-15-2012 at 06:06 PM.

  12. #12
    Platinum
    Reputation
    314
    Join Date
    Mar 2012
    Posts
    3,769
    Load Metric
    10305888
    Only the beginning...

    Massive List Of Layoffs After Election Update: Walmart, Papa Johns, Applebees, Energizer, Groupon

    Here are more companies since last week that have announced that because of Obamacare, they are cutting back hours, pay, and laying off workers. Some companies have announced that they are passing on the charges to people who buy their products.

    Wal-Mart employees will have to pay more for health-care plans. As if becoming a full-time employee of Wal-Mart was hard enough, now when they get there they ahve to pay between 8 percent and 36 percent more in premiums for its medical coverage in 2013. Walmart said they may hve to drop coverage of 1.4 million workers and bring more people to part time.

    Wal-Mart said average costs its employees will pay should rise about 4.4 percent or more in 2013. To read more go here.

    Papa John's CEO John Schnatter says the plan on raising the price of their products by 10 to 15 cents per item. They are planning to cut employees hours and reduce more people to parttime in order to pay for the new health care law. He told students inside a small auditorium at Edison State College's Collier COunty campus, "got in a bunch of trouble for this. hat's what you do, is you pass on costs. Unfortunately, I don't think people know what they're going to pay for this."

    Applebee's Zane tankel told Fox Business Network that they likely would have to have a hiring freeze so they can pay for for Obamacare for their employees.
    :
    Teco Coal officials announce layoffs

    Momentive Inc plans temporary layoffs for 150

    Wilkes-Barre officials to announce mandatory layoffs

    600 layoffs at Groupon

    More layoffs announced at Aniston Weapons Incinerator

    Murray Energy confirms 150 layoffs at 3 subsidiaries

    130 laid off in Minnesota dairy plant closure

    Stanford brake plant to lay off 75

    Turbocare, Oce to lay off more than 220 workers

    ATI plans to lay off 172 workers in North Richland Hills

    SpaceX claims its first victims as Rocketdyne lays off 100

    Providence Journal lays off 23 full-time employees

    CVPH lays off 17

    New Energy lays off 40 employees

    102 Utah miners laid off because of 'war on coal', company says

    US Cellular drops Chicago, cuts 640 jobs

    Career Education to cut 900 jobs, close 23 campuses

    Vestas to cut 3,000 more jobs

    First Energy to cut 400 jobs by 2016

    Mine owner blames Obama for layoffs (54 fired last night)

    Canceled program costs 115 jobs at Ohio air base

    AMD trims Austin workforce - 400 jobs slashed

    100 workers lose jobs as Caterpillar closes plant in Minnesota

    Exide to lay off 150 workers

    TE Connectivity to close Guilford plant, lay off 620

    More Layoffs for Major Wind Company (3,000 jobs cut)

    Cigna to lay off 1,300 workers worldwide

    Ameridose to lay off hundreds of workers

  13. #13
    Platinum DirtyB's Avatar
    Reputation
    662
    Join Date
    Mar 2012
    Posts
    2,926
    Load Metric
    10305888
    LOL at blaming health care costs for the 600 layoffs at Groupon, and not the 90% drop in their stock price.

    Clearly there was some very rigorous research behind that list.

  14. #14
    Gold Anal_Hershiser's Avatar
    Reputation
    65
    Join Date
    Jul 2012
    Posts
    2,099
    Load Metric
    10305888
    Now every fucking dipshit who ran their own business into the ground themselves is gonna blame Obama. It's a lot easier to say, "It's Obama's fault" than it is to say "I fucking suck at running a business and we have been considering layoffs for awhile now, but now I have someone else to blame." Maybe Obama is actually responsible for some of the layoffs mentioned. But FFS, research it before you simply find every company that is announcing layoffs and assume it was Obamacare related.
    Quote Originally Posted by 408Mike View Post
    Vegas is there any chance I can buy you some steaks and mail them to you or something?
    Quote Originally Posted by Lord of the Fraud View Post
    I do believe Iraq was a huge mistake
    Quote Originally Posted by Lord of the Fraud View Post
    Why the fuck is the world (cough US) allowing these backward fuckers have nukes.

  15. #15
    Banned
    Reputation
    835
    Join Date
    Mar 2012
    Posts
    5,494
    Load Metric
    10305888
    Quote Originally Posted by DirtyB View Post
    LOL at blaming health care costs for the 600 layoffs at Groupon, and not the 90% drop in their stock price.

    Clearly there was some very rigorous research behind that list.

    True but in the future you're going to see companies making decisions on employees across the board and really a lot of these companies long before obamacare was ever mentioned were practicing these sort of trades of cutting down hours and making it VERY difficult for someone to be considered full time and eligible for benefits including health insurance. It's going to get worse and were going to see even more people on welfare. Why couldn't these politicians see this coming and put in some penalties for working around the system? Maybe they have, I haven't really gone all detective druff on it myself but wouldn't it make sense to tax the shit out of companies who carry more part time workers than full time who are trying to avoid this? For everyone they lay off more fucking penalties. This Obamacare package seems very flawed and it's just going to defeat an already defeated work force.

  16. #16
    Gold Corrigan's Avatar
    Reputation
    341
    Join Date
    Mar 2012
    Posts
    2,075
    Load Metric
    10305888

  17. #17
    Gold Corrigan's Avatar
    Reputation
    341
    Join Date
    Mar 2012
    Posts
    2,075
    Load Metric
    10305888
    Pretty funny website:


    www.publicshaming.tumblr.com

  18. #18
    Banned
    Reputation
    835
    Join Date
    Mar 2012
    Posts
    5,494
    Load Metric
    10305888
    Name:  tumblr_lon2uh7XpR1qis6bco1_500.gif
Views: 319
Size:  482.6 KB

    simmer it down borrigan

  19. #19
    Platinum
    Reputation
    305
    Join Date
    Mar 2012
    Posts
    2,500
    Load Metric
    10305888
    Quote Originally Posted by DirtyB View Post
    The Congressional Budget Office, which is immensely more capable of doing this type of analysis than an accounting firm, disagrees.

    http://www.reuters.com/article/2012/...8A71D020121109
    You sure about that?

    Name:  cbogdpprojectionsrealit.png
Views: 297
Size:  460.0 KB

  20. #20
    Diamond Walter Sobchak's Avatar
    Reputation
    1243
    Join Date
    Aug 2012
    Location
    Bowling Alley
    Posts
    8,875
    Load Metric
    10305888
    OBAMA TOOK AWAY OUR TWINKIES!

    http://www.usatoday.com/story/money/...iness/1708409/

    FUCK THAT I'M VOTING TEA PARTY FROM NOW ON.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. the French government has lost their collective minds
    By shortbuspoker in forum Flying Stupidity
    Replies: 0
    Last Post: 09-28-2012, 09:29 AM
  2. Continued debate on Full Tilt taxes
    By Steve-O in forum Flying Stupidity
    Replies: 6
    Last Post: 08-01-2012, 02:59 PM
  3. Steve Jobs 60 minutes
    By NaturalBornHustler in forum Flying Stupidity
    Replies: 0
    Last Post: 07-15-2012, 09:57 PM
  4. Congratulations PFA's traffic now ranks higher than DonkDown
    By hutmaster in forum Flying Stupidity
    Replies: 33
    Last Post: 07-05-2012, 08:11 PM
  5. Replies: 2
    Last Post: 05-30-2012, 07:05 AM