"We must act now. The longer the oppressive tax burden on honest, hardworking individuals remains unaddressed, the larger and more deadly this fire will become."
Yes it is a lazy way to blog, but damn the Onion can be spot on.
The recent spate of economic news has been worrisome at best. It is nice to see good news hit. In particular there is good news in the area of manufacturing. The Los Angeles Times headline says it "Carmakers' rebound is driving jobs in U.S."
From a trough two years ago, Ford Motor Co., General Motors Co., Chrysler Group and other auto companies have added almost 90,000 manufacturing jobs, a 14% increase, according to federal employment data.
These are good jobs with solid pay rates and benefit packages. The kind of jobs that built an American middle class. These are the type of jobs and this is the type of manufacturing that has positive spill over effect for related industries and connected communities.
This kind of expansion is important to the economy. Including factories, suppliers and dealers, the U.S. auto industry employs about 1.7 million workers and supports an additional 6.3 million private-sector jobs, according to the Center for Automotive Research in Ann Arbor, Mich. The center said those positions represent more than $500 billion in annual compensation and more than $70 billion in personal tax revenue.
It is a small drop in the vast ocean of the American economy, but as the rains of Irene and the forecast of a possible double dip it is worth the time to read a little good news.
Of course, as all things jobs related this will touch on Presidential Politics. Take a quick look at Obama v. Romney re: the Auto Bail out.
Representative can't explain how Bush Tax Cuts "created" jobs.
If most conservatives were honest they would simply say Rich deserve tax cuts because they work harder and tax money just pay for the lazy. Instead they try to make up excuses. Remember Bush's initial justification for Tax cuts was the government was running a surplus( yes a surplus when he ran for election ) Then when the economy softened the justification was to spur the economy. So to follow if the economy is good cut taxes for wealthy if economy is bad cut taxes for the wealthy. Follow that.
You can see why it would be hard to point to hard evidence. I kinda feel sorry for the guy, because you know he "absolutely believes".
Warren Buffet lays it all out. With you know facts and figures, not talking points. Such as:
Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.
I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.
I could copy and paste the whole article as he makes strong argument after strong argument based on factual reality and not emotional response. (probably the same way he invest his money).
I will include a couple of links to this commentary as it is on the New York Times website and I am not certain how their paywall will affect the links.
