Tag Archives: bush tax cuts

Jobs Are Up, But Not Nearly Enough

Meanwhile, aggregate hours worked rose by only one-tenth of a percent in October and only 1.7 percent over the past three months at an annual rate. So even when you combine hours worked with hourly earnings, there’s still a shortfall in real income.

The best part of the jobs report is the recent surge in the household survey, which picked up 277,000 in October and has averaged 335,000 over the past three months. This is a good sign for small business, and it’s responsible for the small drop in unemployment to 9 percent from 9.1 percent. Continue reading

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Romney: Tax Cut Deal No Jobs Fix

Romney concluded that President Obama has reason to celebrate because deal delivers short-term economic stimulus before the 2012 elections. “But the long term health of our great engine of prosperity will remain very much in doubt,” he wrote. “To the twin inevitabilities of death and taxes, we may now have to add persistent high unemployment.” Continue reading

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Sell Bonds, Buy Stocks: An Investment Strategy Built on Pro-growth Tax Cuts

Recent polling data show overwhelming public support for the turn toward pro-growth tax cuts. The most recent Gallup poll reveals that 66 percent of voters support the deal. That includes 67 percent of independents, 52 percent of Democrats, and 85 percent of Republicans. Surveying likely voters, Scott Rasmussen finds that 56 percent favor the tax-cut deal while only 29 percent oppose it. Even political liberals are split on the issue: 43 percent favor the tax-cut extension, and 41 percent are opposed. Continue reading

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Why Letting Tax Cuts Expire Will Hurt Small Businesspeople…Like Me!

First, the sense of pride of ownership and having built something from nothing is as strong in an entrepreneur as it is in the artists I alluded to earlier. This is often a foreign concept to those who have spent their lives in secure positions in academia, government, or as line workers and middle managers in huge firms and thus do they discount our passion to create something while passing judgments like Ms. Greene’s. Do not underestimate the fact that more than just money drives us to take such enormous personal risk. Continue reading

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White House Concedes on Upper Income Tax Cuts

“Republicans made a pledge to America to permanently stop all of the tax hikes scheduled for January 1st. We’re glad to see that the president’s most trusted adviser now agrees with this course of action, and hope he and the president will show leadership by convincing Speaker Pelosi to stop these tax hikes permanently in the upcoming lame duck session,” Steel told Fox News. Continue reading

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Senate Democrats Divided on Taxes Put the Issue Off Until After Election Day

“It’s just better that we wait. Nothing has to be done before the end of the year. It’s clear, we’re not for a $4 trillion tax loss. What we want is tax extensions for the middle class,” said Sen. Dianne Feinstein, D-Calif., who said earlier that she could also support a compromise that woulid temporarily extend the top two tax brackets for two years. Continue reading

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Top 10 Failures of Obamanomics

6. Financial Regulation
The recently passed financial regulation legislation did nothing to reform Fannie Mae and Freddie Mac, the two mortgage giants that helped trigger the financial crisis. It did, however, guarantee future bailouts of large companies that fail, forcing taxpayers to foot the bill for private companies’ mismanagement. In the end, government control of America’s financial system will help London, Tokyo, Frankfurt, Shanghai and other foreign financial centers while killing jobs and reducing economic activity in the United States. Predictably, four out of five Americans believe the legislation will not help avoid another crisis, a Bloomberg poll found. Continue reading

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Expiration of Bush Tax Cuts Would Cost Families Thousands in 2011, Study Shows

Lowering the child tax credit from $1,000 to $500 per child would cost 31 million families an average of $1,033 in 2011; the reinstatement of the so-called marriage penalty, a peculiarity in the tax code that forces some married couples to pay more for income tax than they would if they were single, would cost 35 million couples an average of $595 each, according to the preliminary numbers Continue reading

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The Liberal Tax Revolt: Is it a Game-Changer?

When Tim Geithner told me in a CNBC interview a few weeks ago about his 20-20 rule for the top tax rate on capital gains and dividends, I blogged that this was a good thing — in particular the story for dividend taxes, which could go to 39.6 percent. But no increase at all on investment taxes would be even better. Continue reading

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