Ryan: Will agree to close loopholes if used to

[ugonow]

give more tax cuts-----thinkprogress.org/economy/2011/07/05/260523/paul-ryan-david-brooks-loopholes/

[safeharbor37]

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.


The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.
www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html

[floridayankee]

Jul 6, 2011 13:51:55 GMT -5 safeharbor37 said:

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

The Obama stimulus is really boosting the alcohol business. +7.9% over '09 and +11.9% for the first 6 months of '11. I guess I should be grateful for Obama.

[Politically_Incorrect12]

I think there was discussion about closing loopholes and decreasing tax rates across the board to simplify the system. Of course that doesn't mean the loopholes wouldn't work their way back in there.

[privateinvestor]

The loopholes for Private Jets is on the table today along with others tax increases but will they really contribute to the Revenue increases Obama and the Dems need to satisfy their base? Or this tax loophole thing just smoke and mirrors??? Our California state budget is mostly just smoke and mirrors with tons of revenue enhancements bases on projected windfall tax profits...whatever that means???

[fairlycrazy23]

Jul 7, 2011 7:42:05 GMT -5 Politically_Incorrect12 said:

I think there was discussion about closing loopholes and decreasing tax rates across the board to simplify the system. Of course that doesn't mean the loopholes wouldn't work their way back in there.

This is one reason why I want to completely replace federal income and payroll taxes with the Fairtax, as long as we have the IRS the way it is now, it will be very easy to just get back to where we are now.

Jul 7, 2011 8:24:02 GMT -5 @privateinvestor said:

The loopholes for Private Jets is on the table today along with others tax increases but will they really contribute to the Revenue increases Obama and the Dems need to satisfy their base? Or this tax loophole thing just smoke and mirrors??? Our California state budget is mostly just smoke and mirrors with tons of revenue enhancements bases on projected windfall tax profits...whatever that means???

It is mostly just fueling class envy; The new Jet tax code was actually in the 2009 stimulus package, so we giveth then taketh away.
Taxes=punish achievers
Windfall profit tax=Severally punish successful achievers.

When you want less of an activity you tax it, when you want more you subsidies it.

[djAdvocate]

Jul 5, 2011 13:32:24 GMT -5 ugonow said:

give more tax cuts-----thinkprogress.org/economy/2011/07/05/260523/paul-ryan-david-brooks-loopholes/

nope. that is a non-starter. there is no sense in cutting revenue for each increase in revenue. that makes as much sense as adding new programs for every cut in spending.

they are not getting it. the supply side crap is over. we have gone from balanced budgets to $1.5T deficits in 11 years using their idiotic logic. it is time to try what worked in the 90's.

[AgeOfEnlightenmentSCP]

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

Yeah, it's called a "document " and every administration does it. They release 70,000 pages of sh** with 3 pages of meaningful, but embarassing or outright damaging information on Friday night.

[djAdvocate]

Jul 7, 2011 21:41:02 GMT -5 AgeOfEnlightenmentSCP said:

When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

Yeah, it's called a "document " and every administration does it. They release 70,000 pages of sh** with 3 pages of meaningful, but embarassing or outright damaging information on Friday night.

sounds like Sarah Palin's heavily redacted email.

[SweetVirginia]

Jul 7, 2011 8:24:02 GMT -5 @privateinvestor said:

The loopholes for Private Jets is on the table today along with others tax increases but will they really contribute to the Revenue increases Obama and the Dems need to satisfy their base? Or this tax loophole thing just smoke and mirrors??? Our California state budget is mostly just smoke and mirrors with tons of revenue enhancements bases on projected windfall tax profits...whatever that means???

It is just smoke and mirrors. I am 100% for adjusting tax rates for the wealthy back to Clinton era rates, but I know that Obama is caving to the repubs and trying to throw the Dems a bone with the whole "tax loop hole" crap.

[EVT1]

Is this bullshit not blatantly obvious? They will agree to close tax loopholes only if offset by tax cuts? For fucks sake we are broke, but they want to make sure the billionaires are safe?

I'll give them credit- they have managed to convince 90% of their base that they should just work harder and they will be welcomed into the elite levels, where the real truth is that they are not invited. Way to go dumbasses!

[SweetVirginia]

Jul 8, 2011 2:11:36 GMT -5 EVT1 said:

Is this bullshit not blatantly obvious? They will agree to close tax loopholes only if offset by tax cuts? For fucks sake we are broke, but they want to make sure the billionaires are safe?

Yes, the republicans, and many of the "corporate" democrats, want to protect the interests of the billionaires. This country is being run (over run) by corporate hacks (both left and right) who do nothing but cave to special interest groups. Sad really.

[EVT1]

Thanks Sweet- Are you in Virginia? I am taking my family in your direction- the new river gorge and the nantahala- gonna do some kayaking! Not ready for the Gauly yet, but we are ready-ocoee is tough but good training!

[SweetVirginia]

Jul 8, 2011 2:48:24 GMT -5 EVT1 said:

Thanks Sweet- Are you in Virginia? I am taking my family in your direction- the new river gorge and the nantahala- gonna do some kayaking! Not ready for the Gauly yet, but we are ready-ocoee is tough but good training!

No evt, I am not in Virginia. My nick comes from the Rolling Stones song "Sweet Virginia." It is a great song, and the Stones are a great band. I wish you and your family a wonderful vacation.

[Politically_Incorrect12]

Jul 8, 2011 2:11:36 GMT -5 EVT1 said:

Is this bullshit not blatantly obvious? They will agree to close tax loopholes only if offset by tax cuts? For fucks sake we are broke, but they want to make sure the billionaires are safe?

I'll give them credit- they have managed to convince 90% of their base that they should just work harder and they will be welcomed into the elite levels, where the real truth is that they are not invited. Way to go dumbasses!

So if Republicans are trying to get people to work harder in order to make their lives better, what are Dems saying? Oh that's right, the wealthy don't deserve their money, or you shouldn't have to work that hard...or my favorite that you can't do it yourself so you need to government to do it for you.

[ugonow]

A few months ago Ryan was claiming we can't afford these subsidies and loopholes anymore,they need to go Now I guess we can and he wants more.Where did the extra money suddenly come from, the spending cuts?

[handyman2]

Folks both sides are playing the game. They are looking at what position to take to that will give them the most votes next election and none are going to support anything that will tick of the money bags. when all is said and done little will be done that favors the little people. Sad, but that is current politics.

[EVT1]

Jul 8, 2011 2:52:29 GMT -5 SweetVirginia said:

Jul 8, 2011 2:48:24 GMT -5 EVT1 said:

Thanks Sweet- Are you in Virginia? I am taking my family in your direction- the new river gorge and the nantahala- gonna do some kayaking! Not ready for the Gauly yet, but we are ready-ocoee is tough but good training!

No evt, I am not in Virginia. My nick comes from the Rolling Stones song "Sweet Virginia." It is a great song, and the Stones are a great band. I wish you and your family a wonderful vacation.

Thanks, have to introduce class 3 rapids to an 11 year old that would rather sit at home and play video games. Beautiful world outside. Politics aside a lot of the people on here have no idea how blessed they are. They want to jump on an immigrants ass but put in a similar place, would they not do whatever it took to take care of their family?

[SweetVirginia]

Jul 8, 2011 10:11:23 GMT -5 EVT1 said:

Jul 8, 2011 2:52:29 GMT -5 SweetVirginia said:

No evt, I am not in Virginia. My nick comes from the Rolling Stones song "Sweet Virginia." It is a great song, and the Stones are a great band. I wish you and your family a wonderful vacation.

Thanks, have to introduce class 3 rapids to an 11 year old that would rather sit at home and play video games. Beautiful world outside. Politics aside a lot of the people on here have no idea how blessed they are. They want to jump on an immigrants ass but put in a similar place, would they not do whatever it took to take care of their family?

evt, I truly believe that most Americans have no problem with legal immigrants. I am a 1st generation American born to legal immigrants. What I and many others have a problem with, are ILLEGAL immigrants who come here, take jobs that Americans are willing to do (for a living wage) lower our wages, and use up our social services even though they pay little to no taxes. Would I or others , do the same as them if we were in their place? Perhaps we would. But a part of me feels that I would work my heart out to make my own country better. My parents came here for a better life, but they were living a middle class life in El Salvador (San Salvador) They were not starving. They just felt that there were even better opportunities here, so they came here legally. I am all for legal immigration and I have absolutely nothing personal against illegal immigrants. I know they are here because we allow it, and they are desperate. That does not make it ok though. We need to look out for our own citizens and legal residents. We need to enforce our immigration and employment laws and illegal immigrants should stay in their countries, take to their own streets in protest, work to make their own countries better, and apply to come here legally if they wish to do so.

[Deleted]

How did your relatives come here legally Sweet? Did they win the lottery? If not, how many years did they have to wait after they applied? Thanks.

[SweetVirginia]

Jul 8, 2011 10:28:55 GMT -5 oped said:

How did your relatives come here legally Sweet? Did they win the lottery? If not, how many years did they have to wait after they applied? Thanks.

My father waited two years. My mother, who was already married to my father, had to wait almost two more years to join my father.

[EVT1]

Agree Sweet, they are here because we give them a reason- and you can't blame them for coming here to work and send money home- what are they supposed to do? I hate to make a globalization argument, but the cat is out of the bag and the only way to fix it is to bring up the wages of every country- global unions, whatever. As long as the disparity exists there will be a capitalist waiting to exploit it.

[Deleted]

They applied in El Salvador, and two years later your father was approved for a green card?

I'm curious, i just don't know that much about legal immigration timelines. I know my husband landed here illegally, applied for asylum, and while he was granted that immediately, he waited almost 7 years for a green card... because they would only approve so many per year... I know asylum is a bit different, but...

I also know that you can apply for a lottery each year, but otherwise, am surprised that he was given permanent residency status after only a two year wait... I wonder if that is a typical time period...

[SweetVirginia]

Jul 8, 2011 10:40:11 GMT -5 EVT1 said:

Agree Sweet, they are here because we give them a reason- and you can't blame them for coming here to work and send money home- what are they supposed to do? I hate to make a globalization argument, but the cat is out of the bag and the only way to fix it is to bring up the wages of every country- global unions, whatever. As long as the disparity exists there will be a capitalist waiting to exploit it.

I don't blame them. I blame our government and big business.

[EVT1]

So do I

[SweetVirginia]

Jul 8, 2011 10:43:52 GMT -5 oped said:

They applied in El Salvador, and two years later your father was approved for a green card?

I'm curious, i just don't know that much about legal immigration timelines. I know my husband landed here illegally, applied for asylum, and while he was granted that immediately, he waited almost 7 years for a green card... because they would only approve so many per year... I know asylum is a bit different, but...

I also know that you can apply for a lottery each year, but otherwise, am surprised that he was given permanent residency status after only a two year wait... I wonder if that is a typical time period...

He applied for an employment visa at first. He waited two years for that, once he arrived here, he applied for permanent residency (green card)

[Deleted]

Did he have to have a comany here support his visa? Or do they just provide visas and then expect you will be able to come here and get a job? Just wondering how this all works (and realizing it could change...)

[SweetVirginia]

Jul 8, 2011 10:57:21 GMT -5 oped said:

Did he have to have a comany here support his visa? Or do they just provide visas and then expect you will be able to come here and get a job? Just wondering how this all works (and realizing it could change...)

A company sponsored his visa.

[handyman2]

Evt1: So you are going to do the Ocoee river? Where the olympic center is on the ocoee was our swimming hole when I was a kid. It was called the blue hole then. When the gorge dam gates were closed above the center there were two huge rock bowls exposed and the sun would warm the water like bath water. The water moccasins would swim in the pools to catch craw fish. We would chase them out with a long pole onto the bank and go swimming. The water was crystal clear and only looked 5 feet deep but was 10 feet in most places. The water is diverted through a tunnel in the mountian to the generators down river to provide power. Have fun the moccasins don't get in the water when the gates are open, to rough so not to worry. ;D

[ameiko]

I'm trying to understand Democrat logic:

"We need to close the loopholes" vs "We need targeted tax cuts!"

Ummm... what do you think a loophole is? Also, why isn't the media jumping on Obama, who condemns the depreciation schedule of private jets, when it was his own stimulus bill that rewrote the law?

Oh yeah, liberals.