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Here It Comes: Obama Considering Another Fiscal Stimulus
It just never changes:
- OBAMA AIDES SAID TO DISCUSS EMPLOYER PAYROLL TAX BREAK
- PAYROLL TAX BREAK FOR EMPLOYERS AMONG IDEAS TO BOOST HIRING
- ADMINISTRATION CONSIDERING MEASURES AS RECOVERY SLOWS
Bolded bullets aside, good luck passing another fiscal stimulus Dear President when you can't even issue debt without stealing money from government retirees.
From Bloomberg:
President Barack Obama’s advisers have discussed seeking a temporary cut in the payroll taxes businesses pay on wages amid economic reports suggesting the recovery is slowing, according to people familiar with the matter.
The idea, in preliminary stage of discussion, is among several being debated in the administration with the aim of boosting hiring, the people said on condition of anonymity to discuss internal deliberations. The unemployment rate in April rose to 9.1 percent, the highest level this year, and the economy is a main focus of the political debate in Washington.
The discussion reflects the political constraints the White House is operating under with the Republican majority in the U.S. House pushing to cut federal spending. A hiring stimulus based on a tax break for employers may have an appeal to Republican lawmakers, many of whom have called for measures to help businesses.
A temporary break in payroll taxes also would echo a centerpiece of the deal Obama and congressional Republicans reached in December 2010 to extend tax cuts enacted during the presidency of George W. Bush. That package included a 2- percentage-point reduction in employee contributions to the payroll tax during 2011. The tax finances Social Security and Medicare and is divided between portions paid by employers and employees.
Obama said at the White House yesterday that he’s interested in “exploring” with lawmakers from both parties extending some of the stimulus measures that were part of the tax cut package “to make sure that we get this recovery up and running in a robust way.”
The people familiar with the discussions would not characterize how seriously the idea is being considered or whether it’s moved beyond initial discussions. Other ideas that have been discussed -- and rejected, according to some administration officials -- include a temporary holiday on corporate taxes on repatriated foreign earnings.
And what permawrong Wall Street aparathick lemmings gets quoted? Why the man who had the NFP number off by 300%+ Joe Lavorgna of course:
In an analysis released shortly after the December 2010 tax-cut deal, Deutsche Bank Securities economists Joseph LaVorgna, Carl Riccadonna and Brett Ryan estimated that the employee payroll tax cut would boost gross domestic product this year by an additional 0.7 percentage points.
Enter another speechless moment, especially since it was yesterday that we discussed just how worthless the first $787 billion fiscal stimulus really was:
QE 2 Was A Disaster: Here Is Why US Fiscal "Stimulus" Was A Complete Failure As Well
Two
and a half years ago, Christina Romer, then still employed by the Obama
administration in the position of Chair of the Council of Economic
Advisers penned "The Job Impact of the American Recovery and
Reinvestment Plan" - a report predicting the impact of a fiscal
"stimulus" that took out $787 billion from the pocket of American
Taxpayers (subsequently discovered to cost even more)
and put that money...somewhere. We are not sure where, because
according to a chart now made legendary for its complete failure to
predict the future, it sure did not go into creating jobs. Below we
present the original chart that made the January 10, 2009 presentation,
and superimpose upon it the reality of the past two and a half years. It
is simply stunning. And while we are here, and discussing the abysmal
failure of QE2 (the impending arrival of QE3 notwithstanding), it is
amusing to hear the whimpering of the likes of one Richard Koo, who is
now claiming that all along the money from the Fed's monetary stimulus
should have been invested in the form of a fiscal one. Well, Dick, below is the impact of your fiscal stimulus....AND it also includes the impact of $2 trillion in incremental monetary stimulus. Combined, both
fiscal and monetary stimulus has now missed the worst case projection
for US unemployment for 30 months running. Here is the simple truth:
both monetary and fiscal stimuli are abysmal failures, when the economy
is mean reverting to a state where it was hijacked from courtesy of 30
years of "great moderation" - and there is nothing that can be done to
stop it. Correction: there is one thing - the Fed can destroy the dollar
in its attempt to disprove simple physics. And, ultimately, it will.
From the original ARRA proposal:
And the outcome:
Nuff said.
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As predicted, whatever they call it, whether monetary or fiscal, they're gonna keep the smack flowin' in the veins of this economy. I had a feeling that the 'plausible deniability' would be that they wouldn't call it "QE'. Too embarrassing
Note to Moody's, now is the time to downgrade US debt. Obviously Washington doesn't understand the meaning of broke.
Fitch already threatened to this morning, I posted a link to the story on another thread.
Fresh Downgrade Threat to US Debt
Wall Street Journal
Failure to raise the debt ceiling in time to avoid default would imply a crisis of governance, Fitch sovereign-ratings head David Riley said...
http://online.wsj.com/article/SB10001424052702304778304576373992711772366.html
Keynesian Economics in total failure mode. Instead of waving the white flag and admitting complete failure to your spend and pretend solution, you pound the final nails into our coffin. This is what you get when you listen to the likes of Paul Krugman and co. I saw this coming when Orzag,Romer Summers,and now Goolsbee jumped the sinking ship... Give it up already, If we had just let the chips fall where they may back in Sept 2008 and let the too big to fails collapse, we would be well on the road to recovery by now. Just think how many small businesses and banks would have thrived given the oportunity to put the pieces from the collapse back together? Unemployment would be under 6% by now and the economy would be moving forward.Unfortunately now we are stuck with the too big to fails bigger and more dangerous then ever and a country taken over by these FASCIST CRONIES calling all the shots and holding America hostage...
Hahaha, it's the plan! Debt slavery is the goal of the elite!
Since slavery and indentured servitude were technically banned, and are thus politically incorrect, debt slavery is not a term they're too keen on, but yes...yes indeed...
...it's all about the debt slavery. Grist for the mill. Capture that output on the cheap, yo. And yank those gold and silver fillings and strip them for anything else of value on the way out, too.
+9.1% to tahoebum.
Dead on.
*golf clap* for the brainiacs behind this move
And they're going to let QE expire and crash the stock market? ROFLMAO! I cannot believe the ignorance I read sometimes!
Stocks will crash regardless of QE.
Evidently, The Teleprompter insists on trying to drink us sober until we die of alcohol poisoning.
If only you guys could see the picture I took of the foreclosure board at the courthouse today. All I can say is WOW!! You can't even count them all there are so many. And this is from a supposedly military booming area too. There are so many they had to make two sections of the board for foreclosures out of 4 total. Would love to submit the pic for people to see. If it is like this here, I can imagine how bad it is over the whole country.
Upload it here then provide a link
how do you upload it here? I tried to put it in the text block but it won't let me.
Okay, I think this will work....this link should show the pic.
https://lh5.googleusercontent.com/-YYsa2sYVUho/TfABoclnIcI/AAAAAAAAABI/t...
Holy smoke! That's crazy, yo!
Do you live in detroit or in gary indiana ?
Actually, this is Fayetteville NC home of Fort Bragg
It's bad in many areas. It started with pockets, then whole cities, counties, regions. Now it's spreading and the pockets will be the exceptions. As I said here last week, urban blight will return to big metro areas (already started) where it was well-known before. But the big surprise this time around will be sub-urban blight. Even the burbs around NYC are beginning to experience it. It's gonna be the 1970s on steroids
Bullish for polyester.
Better dust off those "Peaches and Herb" 8-tracks
"ah ah ah ah STAYING ALIVE. . ."
http://www.youtube.com/watch?v=I_izvAbhExY
I'll believe it when I see it.
So far, ES futures are not really impressed.
No ones been impressed with you since QE2 started numbnuts.
it seems like only yesterday, we.......wait, it was yesterday!
wtf---proz0 might as well kick everything off with something really styooopid, ok?
The idea, in preliminary stage of discussion, is among several being debated in the administration with the aim of boosting hiring, the people said on condition of anonymity
uncanny. rilly. funny, too. goobermint deregulation, programs, designs, and monetary ease combined to cause the mess in the first place. remember?
the goobermint's job, should they choose to accept it [a long-shot, in itself], is to STOP BURNING OUR FUKING MONEY.
too subtle?
"people said on condition of anonymity"
Like them bloggers lying, hiding behind their anonymity. Unafraid to say anything without being held responsible, acting as if they were powers unto themselves. Come on out and identify yourselves, lend some credibility to your lives.
Or some such shit so we don't have to hunt you down with the web and thought police.
Uh huh.
Slewie, you are a hoot.
YEN plus 1
Those Obama aides must be lead by Obeyme's new economic swami-type Squid alumni Chicagoman Chief of Staff Daley.
That might have helped 2 years and $3 Trillion dollars ago, along with some structural cuts in spending. It would have created the same sort of debt but would have left the money in the hands of the private sector and not dead debt by handing it over to the banks for hoarding.
Larry Summers, 2009 : "The stimulus must be timely, targeted, and temporary." Failed on all three.
BTW, since the taxpayers bailed out the banks when they were insolvent, the Federal Reserve system should now belong to the taxpayers, ala Greece. If the USA ever has to sell off national assets -- we can start by strip-mining them and then selling off the FRBNY member bank carcasses beginning with Citi, JPM, and Goldman Sachs. IPOs bitchez!
Well, in all fairness, not really failed on all three;
Timely; took place between then and now when somebody thought it was needed.
Targeted; too anybody or anything, anywhere from anyplace that contributed vast sums to select election campaigns.
Temporary; will be as soon as we run out of money.
Larry Summers, telling it like it is.
(Smiles and standing ovation for the smartest guy in the room.) (Also a Genuine Asshole)
Wrong! It was "targeted" for the international banks and that's just where it went!
Tuco
sorry
It is really very simple. Promote housing. Even Greenspan said that you need housing to increase jobs.
For some reason the Banks do not want to promote housing. They dump houses on the Market way below their value and depreciate every house around the one they dumped. They will not work with Homeowners to let them stay in their Houses, instead they dump them on the Market way below Market Value. Hurting everyone. Banks will not give anyone a loan. You almost need an 800 credit score just to qualify for a 20% down loan. The Appraisals never come in at the selling price, causing sales to fall thru and the need to re sell the house.
If lending standards got at least reasonable and appraisers did not under appraise every house you just might get housing going again.
The sale of a house involves, Realtors, Mortgage Brokers, Title Companies, Appraisers, etc. Plus, people buy furniture, carpet, hire movers. A new house creates jobs for Plumbers, Carpenters, Drywall contractors, Electricians, Roofers, Graders, Concrete contractors, Siding installers, Window installers, etc. Plus, you have the Manufacturers that make all of those products.
So, simple. It is housing, housing, housing.
Isn't that what Greenspan said back in the early 2000's?
Not sure why you got junked but I entirely agree. Mistakes were made in the last effort to encourage home ownership, but it remains hugely important and there is inventory to work with.
hey, w_f_s! i think i see why yer taxes went down...hope UR enjoying the gardenz.
I'm + 15 and growing some Jacko Lanterns.
perhaps, as they work towards a global waged slave race, they realise the cost of housing must be lowered in amrka, given that it is most (waged) people's largest monthly expense, and even landlords will eventually need to lower the rates.
http://www.worldsalaries.org/total-personal-income.shtml
amrka still leads the world in "average wage" earnings, obviously that will be shifting.
Yeah, it's all about housing.
It's not like you need jobs to support any sustainable housing expansion.
What came first, the chicken or the egg?
The house built itself, then the chicken crossed the road, hired someone, who then qualified for a mortgage and bought it.
/sarc
Jim Rogers was on CNBC...http://www.cnbc.com/id/43328325 ...called Federal Reserve Chairman Ben Bernanke a "disaster" who has "never been right about anything" since he's been in Washington. "I hope he doesn't come back with QE3 but that's all he knows. The only thing he knows is to print money."
He predicted that after the Fed ends its quantitative easing program, known as QE2, this month, it may come back under another name.
"They're gonna bring it back because [Bernanke will] be terrified and Washington will be terrified," he said. "There's an election coming in November 2012. Washington's gonna print more money."
Sounds about right!
Jim Rogers is the former business partner of globalist George Soros. I trust him as far as I can throw him!
Tuco Benedicto Pacifico Juan Maria Ramirez
Yeah but I still would have paid to see that interview, the network must have been ready to pull the plug on him with "technical difficulties" cited as the reason.
Despite his former business partner, or whatever else you think about him, the interview was sick. Maria B's voice was hoarse from her incessant jabbering of nonsense, she could not even reply.
He went off for a solid minute. Something to the tune of,
"B.B. doesn't understand economics. B.B. doesn't understand finance. He doesn't know anything but printing. All he knows is printing. So The Bernake will print."
Best CNBC interview in months.
HA American Dream my ass. My adventure in capitalism went badly 4 and a half years working 12-14 hours a day, 6 to 6 and a half days a week in the wonderful Residential construction industry. Got a big old kick in the balls lost EVERYTHING to include my wife , home and all the stupid shit I had. The truth will set me free. I did teach my self to trade but well that takes money. I'm not bitter, I just want to see this bitch burn to the ground so we can start over and the productive people can get on with there lives. Good news as a former Marine/Sniper that is Ranger trained I have great new life skills. I'm applying for Leader of the Revolution.
For now I sit and read and plot
I love you malcontents that actually make me feel sane.
Middle class was fun
Illegitimi non carborundumGood to have you on board, mate.
You are hired. My marine machine-gunner dad fought at Guadacanal, Bouganville, Guam and Iwo Jima. Glad to see you have chosen not to be a henchman for the New World Order. You are now officially classified as a domestic terrorist by Homeland Security. Welcome to the burgeoning club!:) Semper Fi!
Tuco Benedicto Pacifico Juan Maria Ramirez
HileTroy; have you applied to Homeland Security or the TSA? You're profile looks like a good fit.
Illigitimi non carborundum? Bullshit is not valid? Wow, my Latin must be rusty.
Otherwise I can sympathize.
Best of luck to you, in all sincerity. Sounds like some rough shit, but then that's going around these days, non? Wanted to name drop oathkeepers.org/ as well -- seems right up your alley, if you hadn't yet heard of it.
Peace.
~Magis
Welcome to the Re-Recovery!
Make that the "Dee dee dee-covery"...
Well said in 'good luck' and why.
If they did get it done....nobody believes that it will create more than 0.1% of the jobs the trickle down economics know-nothing or their hillbilly keynesian cousins, ivory tower professors say it would create.
Nope, those savings will be pocketed (like all the rest) which means of course the bottom lines will have a little more of a cushion during the coming 'rough patch'. (i.e. reality merely starting to approach the possibility of setting in)...which when happens is a little like buying a new rear view window right before crashing it into a wall as such a small amount cannot stop the force of gravity that will come with the temporary time frame between QE numbers.
Gotta get at least close to those estimates, even if they are 100 percent gimmick based. Surely no one will see through it. Nope, they will change their behavior accordingly thinking happy days are here again. Umm...no, just like all the other measures didn't change behavior as much as they wanted (I wonder why), and relying on the greater fool theory when fewer and fewer of them around (either through learning or wipeout) will surely get them far and achieve the desired results.
More eye candy to psychologically fool people, not any actual change. Seeing how the psychological games have been failing pretty badly, one should expect the same to continue on this one as the law of diminishing returns is applied yet again.
...and of course this 'nothing' measure that just quickens the pace of piling up debt upon the pile of fraudulent debt that we somehow promise to pay off. Of course we shouldn't pay off fraud anyways, but they keep pretending otherwise, AND calling it legitimate (when it isn't) by not calling it illegitimate, until they can't pretend any longer, in which case their response won't be to do the right thing and Glass-Steagall the broken system, the obvious choice, it'll be to do the wrong thing, and force austerity in a futile attempt to save the broken system. But not before a 'forced republican default' which again does nothing to address the problem either but surely piss off China, who can create a QE like ending effect all on their own if they want to. (among more forceful military ways further down the list)
Another supply side disaster as it is proven once again that NerObama will do anything inside the monetary (bullshit) playbook to keep the (imported) monetary system from going down. No real measures, no fusion project, no glass-steagall, just more gimmicks geared toward obfuscating corporate bottom lines for psychological reasons.
This gimmick though, like most things obama does these days, is all republican ideology, which obama has proven he'll gladly embrace if it extends his 'all in' bet another quarter. The half-life of this measure won't even last that long. Barack the Keynesian has been replaced by Barack the Voodoo master....at least today, as it must be opposite day, at least this week.
How sad we've become that now short term quarterly thinking encompasses the business world and gov't in a 'wipe my ass, I'll wipe yours approach' on all sides of the aisle. But considering that republicans have been calling for this again, they'll once again when convenient forget about everything else they plead about 24/7 in order to cut this expense, err revenue...because according to them we have a spending problem, not a revenue problem (how about the truth: a fraudulent debt problem within a broken system).
Well at least this is one republican talking point they won't be able to run on once enacted. I guess his re-election strategy is to use their dumb ass ideas first and take credit for them, thus saving the republicans from having to make their own dumbass mistakes. (maybe that's why the repubs keep talking about cutting social security and medicare, because those are the only republican positions so far the barack hasn't caved to yet..and the only thing they can, for the moment, be guaranteed that he won't follow them on, and they can draw a distinctive line between the one...err two parties)
We've all known Obama could do it like this, but now it's not merely acquiescing to bullshit ideas of whatever side trying to foster a deal or photo op of harmony between parties, it's literally pulling them out of his ass in desperation mode because they have no other TPTB aligned 'monetary system' options. That's whats new. The fed knows what must happen to do QE3, but I guess the whitehouse just figured it out. Some of these wildfires and tornados must have disrupted their supply chain of hopium. They blame weather on everything else. Guess what Barack, Genocide Ben ain't Toots.
Yes Barack, you've been screwed since day 1, spending your political capital on a dead end strategy and broken system. I guess you finally received one of the memos. I don't expect any change though, as he still hasn't figured out that everything the right, left, center, and tea currently talk and strategize about is wrapped in monetary bullshit incapable of working, and surely won't change anything about the dynamics of our problems being structurally based. It's not psychological, it's structural. It's not a revenue or spending problem, it's a fraudulent debt problem.
Glass-Steagall (and there are members of both sides that have signed on to it) while being enacted by FDR, is a return to American Economics and away from European Economics. It's an American ideal. An American built and already tested RESET button.
So nothing new but the obvious.
So are we still fucked or not? Oh look......a butterfly............
darn it people. Just google most of Obama's appointments and Fed Reserve officers past and present and look at their 'religious" affiliation..........can you hear me noW???
It's not the Jews. It's the Luciferians. It's the criminals. It doesn't matter if they had a bat-mitzvah or a communion or a baptism. They're all just criminals.
There's like a gajillion to one probability that all the jewish people running the TBTF financial institutions and government oversight positions are just there 'by chance' - even if accounting for education and class.
That kind of clustering of religion amongst those guys is as improbable as them all being red haired or pro basketball players. In which case, we'd have carpet bombed Scotland or the Knicks by now, in revenge.
Look at the darn maths. The big banks. The Fed's controlling families. The sheer number of well-paid pro-Isreali lobbyists per congressman. It's indisputable. It's the jooooooos!
At the risk of sounding like you I want to add, AND MEDIA!
It's the criminallllllllllllllllllllllllllllllllllllllllllllllzzzzzzzzzzzzzzzzzzzzzzzzzzz!
Lol. Willful ignorance. Ol' Blankfein and his tribesmen at Goldensacks apparently are still doing God's work. Remember though, It's just the criminals.
You can say it's the Jews.
You can say it's the whites.
You can say it's balding guys.
You can say it's short dudes.
You can say it's guys with little tails. Whatever you want.
I'll say they're just criminals.
End of story.
Is the DEVIL (LUCIFER)?
YES
http://www.youtube.com/watch?v=jPhWZmTSVhM
Read rusty. never forget friends.
YEN
Welcome to the recovery!
+1 LOL Timmy G.... lap dog to bankers everywhere. And, a little off topic, but if I have to hear Jaime continue to bitch and moan about how "unjustly" we are treating the TBTF banks after they almost took the whole system down....scratch.... continue to threaten to take the whole system down I'm going to be sick. This misery doesn't end until the destruction of the banking system as we know it around the world comes about.... we may be waiting a while.
M**herF**king Recovery Summer, Bitchez!
LOL
Break it again, Timmmay Jeetner!
Matchbox Twenty - How Far We've ComeoBLAHma will make sure that those who presently hold jobs, will never be able to afford retirement!
Maybe that is the plan. To keep them paying Income Taxes until they drop dead.
We have front row seats for this theatre of mass destruction. The demolitions committee of Project Mayhem wrapped the foundation columns of a dozen buildings with blasting gelatin. In two minutes primary charges will blow base charges and a few square blocks will be reduced to smoldering rubble. I know this, because Tyler knows this.
LOL
Just bitchen, we had the $780 billion stimuli for '09. Then we got the $400 billion omnibus (because they couldn't call it stimuli) in early '10, plus the $50 billion union slush fund late last year. So in addition to funding Pakistan, Libya and any other god forsaken place, oh and bailing for Greece, Barama might as well funnel more taxpayer bucks to some of his pet thugs like SEIU.
You forgot the $360 billion National Infrastructure Improvement Act of 2007.
Since throwing out useless ideas seem to be the soup du jour:
How about no taxes for anyone? The US gov't can fund itself through the fed reserve and they can do this on their own. Leave the rest of the real world to us where we can exchange things based on a gold standard-- sooner or later less people will be dependent upon their system which will be great for all involved. A peaceful transition from one tye of monetary system to another. We'll call the old government B.K.D. (before keynesianism died) and the new one A.K.D. and the representatives for A.K.D. will have to forfeit any stock holdings and be reliant upon a donation setup (kind of like the wikipedia model) for their income. Corporations don't have the same rights as people, and there is no such thing as central banking. The conversion rate can be as follows: gold =$10,000/oz silver = $250/oz. No more IMF, Worldbank, and central banks, and banks don't exist anymore. No campaign contributions as campaigns are free to those willing to run for office and coverage of the campaign will not be done on any network that is being paid for their advertisements. Oh yeah, no more wars because we're going to be busy re-building the world for a changing climate and we're going to need as many resources as possible.
How about:
1. Stop all imports from China and rebuild mfg. here.
2. Pull all troops out of Iraq, Afghanistan, Pakistan, and stop the planning stage for the Iran war.
3. Tell the New Bolsheviks that the game is up and they have 12 hours to exit the US shores.
4. With 3 accomplished, the Fed will no longer work so we can start the money system fresh with non-fiat currency.
5. With the savings from 2,3 and 4, put together a Marshall Plan to get fuel cell tech rolled out by 2013. Shoot anyone who denies it can be done.
6. Elect Ron Paul in 2012 or get Hopey impeached ASAP.
This idea is the one that needs to gain traction among the masses. As soon as they realize there is absolutely no reason to be paying taxes or issuing debt, because the currency is merely paper or bits on a computer that can be generated at will, the game will be over.
Correct. The income tax was established the same year as the demon Federal Reserve in 1913. I hear tell the sun rose in the East and set in the West even before implementation of the unconstitutional income tax.
Tuco Benedicto Pacifico Juan Maria Ramirez
We also had epidemics of smallpox, typhus, cholera, yellow fever, malaria, polio, E-coli that were so endemic it makes today's food safety problems look laughable, far more soldiers died of these and other communicable diseases in the Civil War than from battle. Triple in fact. Water borne diseases were practically universal, cities were up to their hips in horse shit and dead animals, and capitalism assured us we would have more early death from poverty related causes even as the giled class paid next to nothing to support the nation, the average lifespan when the Fed was created was 48 (45 by the end of 1919). Infant mortality was taking every third child by age 5 mostly due to poverty.
True story,
Small business person who experienced approximately 3k of theft over a period of 2 months. Someone in the business was stealing and the GM (on his way out) didn't catch it. We knew who did it, caught them red handed and fired them. Called police in my medium sized eastern seaboard town to deal with it. They came and 20 year veteran officer informed me that "he could file a complaint and report but that it was a waste of time because of all the police cut backs nothing would come of it." Said it wouldn't even make the radar. Just want to let everyone know that it's officially time for folks to protect their own.
We are laying off cops left an right and O Man is gonna provide more stimulus! Well, I guess it's really working so far. Cool I think i can feel it working right now.....oh sht that's my nutsack glowing green fukashima vibrations again.
It doesn't matter how many cops are laid off they can always find a swat team to raid the homes of the innocent.
Tuco
Obamachrist is the Devil, what don't you get about that? If it was not going to be him, it would still be the American President. The only one that could fit the bill, for the whole global Babylon mark of the beast and the false peace with Israel and the nations, is the New World Secular Order of the U.S. Masonic President of the New Age.
Cleearly none of you are a small business owner. Any break in taxes paid by the employer means more profit and the ability to at least keep your current employees and MAYBE add another if your business needs/supports it. Doesn't matter whether it's on the employer or employee side; it's still money paid by the employer and considered part of total compensation.
It's also a great way to further starve the beast. Support it any way you can :)
+1. I don't understand the lack of understanding in this thread. That's why I tend not to read the comments until I'm drunk and hostile, because it's like everyone else is first.
...hey, I ran a small business and I know the ''volume'' required to overcome this tax system. How about this, shut up, sit down and let me tell you what you are worth today. As an old Drill Sargent use to say ''you don't mind do yuh Private?'' Oh, you don't like that? Oh, you can't find customers at my new price? Oh, you need a lone now?
Listen up, I will never work for your dusty ass. You are done and over. Business is closed. Have a nice day ..eating your children.
The only thing that could goose this economy is repealing Obama care. No one will hire employees with this anchor around their neck. Obama you were warned by many how this would impact employment. But you had too big of an ego or you were too stupid to understand the consequence. Which is it?
Neither, Obama is a puppet following the orders of the corporate fascist state. The insurance companies wrote Obamacare while pretending to lobby against it!
Tuco Benedicto Pacifico Juan Maria Ramirez
Correctamundo!
y/o
Absolutamente!
(Reuters) - The acting head of the IMF urged Japan to reduce its massive debt load to boost public confidence in the sustainability of the economy, which the global lender said could be achieved by tripling the 5 percent sales tax.
I am a small business owner, I'm pretty sure I don't have any foreign profits I need to repatriate and save taxes on. I do however have a bunch of employees and a health care nightmare on the horizon. Oh and if I'm not mistaken costs seem to be rising a trickle.....thankfully those appear to be transitory (sarc on)
they clearly are out of ideas
I saw this article when searching for news on a possible confiscation of 401(k)s: http://www.marketwatch.com/story/wheel-of-misfortune-2011-05-31. It says:
I don't have a subscription, so didn't read the whole thing. Does anyone know what this guy is talking about in the document dump? Since the administration is already confiscating pensions of federal employees to pay the debt, it is not a stretch to think they will go after private 401(k)s and IRAs under the guise of protecting us (After all, CONgress has been talking about it for a few years now -- See: New Lame Duck Threat to Bailout Union Pensions http://www.humanevents.com/article.php?id=39336 and other articles on guaranteed retirement accounts. Also last year there was an article on Zero Hedge about the Department of Treasury asking for comments on the plan: The Treasury Is Soliciting Your Feedback Regarding Proposed Annuitization Of 401(k): http://www.zerohedge.com/article/treasury-soliciting-your-feedback-regarding-proposed-annuitization)
Does anyone know either what was in this article or what was in the document from the administration that the author is talking about? Any information would be appreciated. Thanks!
I wonder what politically friendly name they can come up with for this round of money printing? Perhaps they can call it Economic Prostate Massage. That way, they are trying to point out the fun we are all gonna have while we are getting f**ked in the ass.
While we're on the topic of "temporary", how about just putting an end to the "temporary measure" called income tax?
+ending apportioned Bankster Rape!
Right ON! And paved streets, and potable drinking water, and sewers, who needs those? Why not arm police with deadly weapons and tell them to use those when some poor piece of starving shit gets uppity, then we would not have to pay a dime for anything like social spending, when the filthy poor people revolt we just kill them all. Well, let me know how that turns out, I am hosting a huge party on my yatch for a bunch of my Wall Street friends for a few weeks in Monoaco.
Right ON! And paved streets, and potable drinking water, and sewers, who needs those? Why not arm police with deadly weapons and tell them to use those when some poor piece of starving shit gets uppity, then we would not have to pay a dime for anything like social spending, when the filthy poor people revolt we just kill them all. Well, let me know how that turns out, I am hosting a huge party on my yatch for a bunch of my Wall Street friends for a few weeks in Monoaco.
You have a yatch?
You stepped off your PEDESTAL?
This is straight out of the liberal playbook. When you don't have a clue how to fix the problem then throw money at it to make it look like you are doing something about it.
What it tells me is what is already obvious: el Presidente has no idea what the problem is or how to solve it.
Further, my guess is they are using these leaked 'staff musings' as trial balloons to see how their ideas fly (or in this case, don't).
Obama created an incredibly hostile environment for business investment. There is no way any sane business can plan without a handle on key costs - such as healthcare and energy. That he is so clueless as to not understand this is astonishing, but we've seen the same kind of behavior just recently with his grand smash-up over the Israeli 1967 border.
He doesn't think through the problem before he rushes forward, perhaps because he is jaded by his "I'm the President" power-trip (while everyone else, apparently, is supposed to ride in the back of the bus).
What a mess.
Yeah, when you have no clue about fixing a problem you are SUPPOSED to throw a war at it dumbassed libtards.
Hope and change and disasters- Clueless fuckers running the US Govt
http://www.bls.gov/opub/ils/summary_11_01/unemployed_jobs_quit.htm
Sadly, its time to end the Fed and nationalize the Fed's shareholders that are not adequate capitalized for Basel 3 today. All the notional derivatives are unenforceable contracts, each entered fraudulently by both parties in order to defraud American Citizens. All the mortgage debt held by and between these failed banks and Fannie and Freddie and Sallie are wiped out as are all the UST holdings - which are simply cancelled for the taxpayers. whatever assets/liabilities are left on a banks' balance sheet are split off in a new bank based in a county funded by county assets and customers. Every county commission sits on the board of this new bank, which then sets in motion a new era of local banking. Until the investment vermin are separated from the commercial banking backbone nothing will get better.
In exchange, overnight mortgage holders are released from bondage and the fake debt assets used by the banks to hijack the Republic's taxpayers are for naught. That is the reset button and sadly it will take the act of a dangerous fascist to "fix" Amerika.
If somebody sees something getting better, please let us all know.
Sounds OK till you get to the county by county part, 98% of the 3,143 counties in this country are so corrupt as to make the Fed and Wall Street look legit. Talk about a slush fund for the power hungry, or don't you remember the Savings and Loan raping we took a few years back?
I think the perfect name would be sanity. Not this Koch funded drivel and misinformation campaign.
The discussion reflects the political constraints the White House is operating under with the Republican majority in the U.S. House pushing to cut federal spending. A hiring stimulus based on a tax break for employers may have an appeal to Republican lawmakers, many of whom have called for measures to help businesses.
This is just a chewy toy for the president's political opposition (in name only). Whether they pick it up is another story.
The FICA reduction beginning this year on the employee side is partially offset by an equal percentage increase in the untaxed contribution one could make to qualifying 401k plans and also boosted the employer's optional matching contribution by 1%. So, one could effectively grow their "retirement" more robustly. Of course, given the restrictions to early redemption, this money was never going to be the employees' anyway and its looks more and more as though those cheering on the death of all things New Deal will have something under their crimmus tree come December.
done for...
...you can say that again.
the camel
sticks it's nose
in the tent....
qe on the qt, The first ratings agency in the world just stripped Uncle from TripleAAA to Double,AA,, this afternoon, citing the usual, so its game on partiers.
When the only tool you have is a big government stimulus hammer, everything looks like a nail. Are we really at all surprised by now that Obama sees everything as needing another government program? Just yesterday, we learned that used car prices are skyrocketing because of "cash for clunkers"!
It now boils down to just one question. We know NerObama is a psychopath, but is he psychopathic enough to start WWIII just to get re-elected? I hope that he is not, but I fear that he is.
;)
;)
aparathick - apparatchik
http://www.merriam-webster.com/dictionary/apparatchik
Be of good cheer ZHedgers. Tunga has a foolproof plan. An airtight alibi. All the time in world and plenty of beer.
He will fix this mess quickly. When he is done you will thank him. Then you will say" FerChristsakes Tunga! What took you so long?" To which Tunga will reply if it's so freakin' easy, why didn't you do it?
So there. Ah! It's Linda Green at my door and it looks like she's ready to go, if you catch my drift.
See you in court.
Crumbs for the peasants.
I have a better stimulus:
nobody pays tax for 5 years. Bernanke prints another 5 trillions. We would be out of recession in 5 years.
I have a better stimulus:
nobody pays tax for 5 years. Bernanke prints another 5 trillions. We would be out of recession in 5 years.
There is a big difference between squandering our tax dollars, bailing out defunct companies, acquiring toxic assets at everyone's expense, and reducing tax rates. They should reduce tax rates. If you want larger tax revenues get people working, collect a smaller amount from each = larger taxes collected.
He's a One trick pony..what can we seriously expect from a man who never ran a business or has any idea how economics or creating jobs work!..this is all too funny
i am too much of a lady to say the words that float in my head every time i read the garbage that we are force fed by the idiots running our country....
but i will say that BO will try to paint himself a republican to groom himself for reelection...a communist who wants to be the president of the new world order in sheep's clothing.
No mention of cutting spending of course.
I'm more in the FDR camp here. Infrastructure projects, with lots of contractors. Government pays the worker salaries plus. This is all about jobs, not money.
The administration blew their wad with the first $850b recovery package. There isn't any money for a second.
The first should have been $1T and should have gone 90% to infrastructure. It should have put people to work.
Shoulda, woulda, coulda.......now what?
No political will, nor money, for a second.
Yes, refurbishing the railroad system and upgrading for passenger train transportation, revamping the old canal systems etc. would have been a good investment. I think we will be sorry not to have such alternatives when those cars purchased with cash for clunkers are sitting and rusting because people can no longer afford to fill their gas tanks. The rest of our infrastructure is falling into disrepair as well. That bridge in Minneapolis isn't the only one that might end up in a river. Maintenance has been neglected on many things for many years. In some places the water mains are about ready to burst, the power grid is old, and how old are our nuclear power plants, by the way? Aren't they getting to the end of their lifespans? I believe some are way beyond. We won't be able to keep them up and running forever, and we'll be lucky not to have our own nuclear disaster. Things are being held together with spit and baling wire. There is a natural gas pipeline running through my state that is at least 30 years old or more. Well, we can at least take some comfort in the fact that the bank have been saved.
Lizzy, FW it's W. I enjoy your post's
YEN
Not sure if you've noticed but the US is closing shop. Infrastructure is for countries with a future. Putting up an "Under New Management" sign ain't gonna help either. Sorry about that. Enjoy joy your day.
A temporary tax cut (har, har, har) ain't gonna fix shit. Especially when the right hand is implementing a dozen or so tax increases elsewhere. Raw materials costs, inflation, and other factors are already outstripping anything this malignant government bureaucracy can do in the form of stimulus anyhow. Nothing short of starting over will do, the economy is fucking DEAD.
John Connor speaks. He will lead the way to liberation.
http://grandfubar.com/greetings-from-crystal-peak
http://grandfubar.com/building-our-bases
junkS APLENTY? buzz,you ARE IMMUNE. cdad, YOU ARE THE BEST
YENCROSS.
idiot still dont get it
why not tax break for employees
ATrick question? I like' ZEBRA"S
YEN
Orly you area joke! Wipe the Bum Left handed
Want stimulus?
Hang every mother fucker who ever worked for the EPA, the DOE, or the FDA.
Then kill every mother fucker who had a hand in forming the obamination called Obamacare.
Then kill every lawyer with his picture in the yellow pages.
Just a thought.
I missed ya Rodent!
Man, I give up. 99% of government action, in MY life, just fucks things up.
We need to team up and go conquer a third world country and be kings. The proles can go hang.
Never give up! London calling!
I live by the river!
I own a small business and I'll gladly take a tax cut, but I would never hire anyone unless I had a job for him/her.
IMO this is the wrong kind of stimulus.
I hope that small business EXPLODES! In a good way!
Joking aside. look @ the CURVES.
yen
_
Just BTFDs!!
I mean haven't we been saying this like for months, buy silver, then buy more, then BTFD and buy even more!
_
YES
Announcement: We are now serving drinks on the deck of the Titanic
Given what has been done already and what is yet to come, given the data and analysis the army of analysts have to forecast and extrapolate from, given that the Great Depression originated in the US at a time when the US a brand new superpower and far from the only one, then you really need to ask yourself just what the worst case scenario is and if it's either fix it at all cost or all is lost (which this type of desperate plan leads one to envision) then why not keep lowering taxes? All I ask is that someone make a list of the biggest benefactors so if it fails there are clawback provisions.
The acceleration of the American campaign in recent weeks comes amid a
violent conflict in Yemen that has left the government in Sana, a United
States ally, struggling to cling to power. Yemeni troops that had been
battling militants linked to Al Qaeda in the south have been pulled back
to the capital, and American officials see the strikes as one of the
few options to keep the militants from consolidating power.
On Friday, American jets killed Abu Ali al-Harithi, a midlevel Qaeda
operative, and several other militant suspects in a strike in southern
Yemen. According to witnesses, four civilians were also killed in the
airstrike. Weeks earlier, drone aircraft
fired missiles aimed at Anwar al-Awlaki, the radical American-born
cleric who the United States government has tried to kill for more than a
year. Mr. Awlaki survived.The New York Times June 8th '' when the man comes around ''
They are all out of options, either they allow the economy to implode now or they allow it implode in the very near future. Either way they know it will implode and they are trying to slink off to better pastures.
i thought the war mongerer said that his last program was going to save the day....and i thought war was good for the economy so why hasn't the libyan stimulus brought us a forest teaming with green shoots?
If only Obama had gone to Med School. He would be draining blood from the left arm of his patients and dripping blood in the right arm to "stimualte recovery." (Minus a whole lot which he'd hand to his vampire buds on Wall Street)
If Obama were a doctor, he'd be cleaning bedpans....on Wall street !!!
If this were a soft patch, which implies things will get better, why is the President considering such stimulus?
Not buying the 'soft patch' bs.
"Stimulus"...yeah, I like the sound of that...so what do we get this time?
Free Golf carts?
Free cars?
How about more free zero down houses?
Gime, gime, gime!
At first glance, I assumed this thread would be a wasteland, so I skipped it. Figured I'd check it later. Well I'm back, and now I see at least everyone's considering this notion from a fair and objective viewpoint.
Tax cuts? Fuckin' horrible idea coming from that Kenyan Marxist. Any sensible conservative or libertarian would be raising payroll taxes right now. Or at least keeping them the same. Shit.
Surprised people aren't demanding the payroll tax cuts to individuals be rescinded immediately.
how relevant this still is, simply amazing.... http://www.youtube.com/watch?v=WINDtlPXmmE
Do not let the bastards wear you down?
Noli spurius permittere te terere. (My Latin is rusty, too.)
May be a good time to bone up some of the "vernaculars", as well.
In view of what's ahead for most americans....I propose a toast to the last President of the US, as we know it.
....doomsday is on the horizon !!