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New York Jets owner, Woody Johnson, named US ambassador to the UK
MikeGangGree... Icon : (01 January 2017 - 03:39 PM) wooooo5-11
MikeGangGree... Icon : (01 January 2017 - 04:00 PM) J-E-T-S JETS JETS JETS!
MikeGangGree... Icon : (01 January 2017 - 05:56 PM) OK so Bill O brien and Sean Payton might get fired according to Fox this morning
MikeGangGree... Icon : (01 January 2017 - 05:56 PM) I would do anything to get one of them as OC
santana Icon : (02 January 2017 - 02:19 PM) texans coach? i doubt he gets fired
santana Icon : (02 January 2017 - 02:19 PM) but he would be ideal if the jets were to flush bowles out
santana Icon : (02 January 2017 - 04:36 PM) http://www.nj.com/je...trol_of_je.html
azjetfan Icon : (05 January 2017 - 09:54 PM) Sean Payton will get another HC gig. Obrien would be good.
azjetfan Icon : (09 January 2017 - 11:18 PM) Howard from Alabama seems legit. #88 TE
azjetfan Icon : (09 January 2017 - 11:20 PM) Williams the WR from Clemson looks like they are out to get him. He has taken some huge hits
vjdbbq Icon : (10 January 2017 - 07:12 AM) We'll take Williams in the first round .
Chadforpresi... Icon : (10 January 2017 - 10:48 AM) I'd love Howard in the 2nd round if he's still there. I like Williams a lot as well, but I just don't see WR being big enough of a need, and there should be better talent on the board at 6
Jetsfan115 Icon : (10 January 2017 - 07:21 PM) Raiders OC Musgrave not expected to return to OAK. what do you think about getting him? he did wonders with the oakland offense this year
Chadforpresi... Icon : (10 January 2017 - 07:39 PM) Definitely an appealing choice given with his history of progressing Carr. We need someone with a track record of grooming young QBs
MikeGangGree... Icon : (12 January 2017 - 12:36 PM) I want Watson now! after what he did Monday night I'm sold on him at QB. He moved the ball all night on Alabama and after hurts scored that TD he just told his team "Lets end this"
Jetsfan115 Icon : (12 January 2017 - 06:31 PM) An Ohio prosecutor says he wants to know what punishment Cincinnati Bengals player Adam "Pacman" Jones faces from the NFL before deciding how to proceed over Jones' latest arrest, Dan Sewell of the Associated Press reports..

Hamilton County Prosecutor Joe Deters tells WKRC-TV he's asking "what is the normal" for a player with multiple offenses and who's been suspended before.

An NFL spokesman said on Thursday that Jones' case is "under review" and declined to comment further.

Jones was jailed Jan. 3 on charges he head-butted police and spit on a nurse after his arrest for assault. Authorities say he was so combative he had to be placed in a restraint chair.

Jones says he anticipates the charges will be dismissed.
Jetsfan115 Icon : (12 January 2017 - 06:32 PM) we wont get watson. he's going 1st overall to the browns
azjetfan Icon : (12 January 2017 - 09:06 PM) Is Watson a product of Clemson's staff and supporting cast? Taj Boyd also put up some decent numbers if I remember correctly but he couldn't even make a scout team in the NFL.
azjetfan Icon : (12 January 2017 - 09:11 PM) From what I have read (although limited) he is not the highest ranked QB in the draft.
azjetfan Icon : (12 January 2017 - 09:11 PM) "No quarterback in this draft -- not Mitch Trubisky, not Watson, not DeShone Kizer -- is considered a sure thing. The folks at Scouts Inc. rank Trubisky, Watson and Kizer as the 21st, 38th and 46th prospects on their big board, respectively." ESPN
azjetfan Icon : (12 January 2017 - 09:12 PM) If we can get a decent return for Richardson we may be able to make a move into the mid teens to early 20s if the Brass really likes Watson.
azjetfan Icon : (12 January 2017 - 09:13 PM) Personally I don't think the jets have a clue on who they will take. We still have to hit FA and manage our roster
azjetfan Icon : (12 January 2017 - 11:46 PM) Jets to interview Broncos assistant Studesville for OC
Jetsfan115 Icon : (13 January 2017 - 01:28 PM) Why? seems like a weird choice
Jetsfan115 Icon : (13 January 2017 - 01:29 PM) Leonard Williams replacing Khalil Mack in Pro Bowl
Chadforpresi... Icon : (13 January 2017 - 09:49 PM) I'm not buying Watson, even after that championship game. Dude threw too many picks in his day
Chadforpresi... Icon : (13 January 2017 - 09:49 PM) I'm really curious to see what we get for Richardson, but I have a bad feeling his value is at an all time low between his crap season and bad attitude
azjetfan Icon : (14 January 2017 - 12:16 AM) I agree. He is a first round talent but a fourth round headache. We will be lucky to get a 2nd
Chadforpresi... Icon : (14 January 2017 - 08:41 AM) Yeah precisely. 2nd rounder would be a huge stretch. 3rd or 4th is more likely
vjdbbq Icon : (14 January 2017 - 02:18 PM) Send Sheldon someplace he will never see the playoffs ; like Jacksonville ; then he will have time to find da ho's .
azjetfan Icon : (14 January 2017 - 07:25 PM) R Sherman is getting torched by the Falcons.
vjdbbq Icon : (16 January 2017 - 09:37 AM) Pats vs Pitt - root for injuries
Jetsfan115 Icon : (16 January 2017 - 12:36 PM) GB-ATL game is gonna be a hell of a shootout. that throw rodgers made on 3rd and 20 with 12 seconds left in a tied game was ridiculous. 35 yards rolling out to his left a perfect placed ball on the sideline.
azjetfan Icon : (16 January 2017 - 10:50 PM) Winters resigned to 4 year deal. $7 million per year
Chadforpresi... Icon : (16 January 2017 - 10:51 PM) Seems like a slightly steep price but overall cool with it, he's turned into a good player and is still young. Just needs to stay healthy.
Jetsfan115 Icon : (17 January 2017 - 04:12 PM) seems like a good deal. they were saying he could have earned over 8 million in the open market
vjdbbq Icon : (18 January 2017 - 08:12 AM) Where's Rob ?
vjdbbq Icon : (18 January 2017 - 08:12 AM) Is he looking for a new ass ?
vjdbbq Icon : (18 January 2017 - 08:12 AM) :saythat:
vjdbbq Icon : (18 January 2017 - 08:13 AM) :trink39:
Jetsfan115 Icon : (18 January 2017 - 01:32 PM) 4 years 29 mil 15 mil guarenteed. so 7.25mil a year for winters. a nice bargain. he took a hometown discount. seems like a good guy. well done winters and mac
Jetsfan115 Icon : (18 January 2017 - 04:33 PM) Jets hire Dennard Wilson as defensive backs coach
Jetsfan115 Icon : (19 January 2017 - 04:01 PM) Trump to name Jets' owner Woody Johnson U.K. ambassador
vjdbbq Icon : (19 January 2017 - 06:04 PM) Maybe Woody will take the Jets with him to London . PLEASE PLEASE PLEASE
Jetsfan115 Icon : (20 January 2017 - 11:13 AM) Mark Gastineau says he has dementia, Parkinson's disease and Alzheimer's disease
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The Bush Tax-Cut Failure Voodoo economics

#1 User is offline   Mr_Jet Icon

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Posted 22 May 2013 - 02:36 AM

Quote

The Bush Tax-Cut Failure
May 21, 2013
by Bruce Bartlett

This post originally appeared on The New York Times Economix blog.

Posted Image
President Bush touts his tax cut plan to a crowd at Lafayette Regional Airport March 9, 2001, in Lafayette, La. (AP Photo/Kenneth Lambert)

Ten years ago this month, Congress enacted the third major tax cut of the George W. Bush administration. Its centerpiece was a huge cut in the tax rate on dividends. Historically, they had been taxed as ordinary income, but the Bush plan, enacted by a Republican Congress, cut that rate to 15 percent. The tax rate on ordinary income went as high as 35 percent.

This initiative originated with the economist R. Glenn Hubbard, who had been chairman of the Council of Economic Advisers when the proposal was sent to Congress. Mr. Hubbard was a strong believer that the double taxation of corporate profits – first at the corporate level and again when paid out as dividends – was a major economic problem.

During the George H. W. Bush administration, Mr. Hubbard had been deputy assistant secretary of the Treasury for tax policy and wrote a Treasury report advocating full integration of the corporate and individual income taxes.

Mr. Hubbard had also spearheaded enactment of big tax cuts in 2001 and 2002 that he said would jump-start the American economy. In an op-ed article in The Washington Post on Nov. 16, 2001, he predicted that the soon-to-be-enacted 2002 tax cut, which President Bush signed on March 9, 2002, would “quickly deliver a boost to move the economy back toward its long-run growth path.”

Mr. Hubbard predicted that it would create 300,000 additional jobs in 2002 and add half a percentage point to the real gross domestic product growth rate.

There is no evidence that the tax cut had any such effect. The unemployment rate remained above 5.7 percent all year, rising to 5.9 percent in November and 6 percent in December. The real GDP growth rate fell each quarter of 2002, and by the fourth quarter growth was at a standstill. Hence the need for yet another big tax cut.

The idea of the 2003 legislation was to raise dividend payouts, thereby bolstering personal income, and raise the prices of common stock, which would improve household balance sheets. As President Bush explained in his signing statement, “This will encourage more companies to pay dividends, which in itself will not only be good for investors but will be a corporate reform measure.” He also said the dividend tax cut would “increase the wealth effect around America and help our markets.”

The Treasury Department issued a fact sheet on July 30 asserting that the decline in dividends had been a cause of the weak stock market and noting that dividend payouts had risen since enactment of the tax cut on May 28.

Subsequent research, however, found that the increase in dividends was a short-term phenomenon and mainly at companies where stock options were a major form of executive compensation. A 2005 Federal Reserve Board study found that the United States stock market did not outperform European stock markets after the dividend cut. Nor did stocks qualifying for lower dividend taxes outperform those, such as real estate investment trusts, that did not qualify for lower dividend taxes. Non-dividend paying stocks slightly outperformed dividend-paying stocks, and many corporations that did pay higher dividends scaled back stock repurchases by a similar amount.

Share repurchases were a common way that corporations returned profits to shareholders. They raised stock prices, which were untaxed as long as shareholders held the stock and were taxed at low capital gains tax rates when sold.

A 2006 Federal Reserve study found that a third of corporations cut share repurchases by the same amount they increased dividend payouts. Hence only the form of shareholder compensation changed, not the amount. A 2010 Federal Reserve study found little change in total dividend payouts after the 2003 rate cut as a percentage of corporate earnings. It concluded that the tax cut had little, if any, effect.

A 2008 study published in the National Tax Journal surveyed investment professionals to see their reaction to the dividend tax cut. It found that the tax cut was less significant than other factors, such as corporate cash flow and cash holdings that were unaffected by the tax change.

A 2011 study by the Treasury Department examined household portfolios. It found no evidence that households shifted their investments from those whose return was taxed as ordinary income into dividend-paying stocks whose income was taxed less.

Finally, a January 2013 study by Danny Yagan of the University of California, Berkeley, examined the impact of the 2003 tax cut on corporate investment. He found zero change.

It is hard to find even a reputable conservative economist willing to say anything good these days about President Bush’s tax and economic policies. In 2009, the Harvard economist Dale Jorgenson said he saw no redeeming features in them.

In 2011, the economist Alan Viard of the conservative American Enterprise Institute told Bloomberg News, “The effects of the Bush tax cuts on growth were ambiguous at best.” He added, “They were not much of a poster child for pro-growth tax policy.”

Even Mr. Hubbard now seems unwilling to defend the tax cuts he shepherded into law. Earlier this year, he was asked by The New York Times what he thought about the repeal of many of the Bush-era tax cuts on Jan. 1. He said many of those tax cuts were no longer relevant to our tax and economic problems.

Mr. Hubbard even suggested that higher revenues, long a Republican no-no, were not a bad thing. “We need a tax system that can promote economic growth and raise the revenue the American people want to devote to government,” he said.



-Bruce Bartlett held senior policy roles in the Reagan and George H. W. Bush administrations and served on the staffs of Representatives Jack Kemp and Ron Paul. He is the author of The Benefit and the Burden: Tax Reform – Why We Need It and What It Will Take. He’s been a guest of Bill’s twice on Moyers & Company.



Papa Bush had it right from the very beginning...

View PostFlyHiJets, on 01 June 2013 - 08:35 PM, said:

You're the scumbag that thinks everyone should kiss the as$es of a bunch of criminals but I'm a dumbass. Yeah okay douchebag. Go give some illegal wetback or Revis another blowjob. But then again.....don't you live in an entirely different country but yet think you can tell us how to live? Go fvck yourself little boy. You're likely still living with mommy & daddy. Pu$$y.


View Postazjetfan, on 02 July 2014 - 03:36 PM, said:

There are a few things I have realized about Mr. Jet over a few topics.

1) He is a racist. By constantly using race as a battling tool.
2) He is an extreme Liberal. If you are on either extreme you are probabaly more wrong than right.
3) He is one of those people who will never admit fault, error or defeat.
4)His life sucks and he takes it out on people who don't share in his views.
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#2 User is offline   azjetfan Icon

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Posted 22 May 2013 - 05:15 PM

You have to have a reasonable budget for a tax code to work. Something our government has yet to do effectively no matter the party for one reason or another. Some people want more taxes and the government to be more evolved with their lives and some do not. Time to put all this Liberal vs Conservative or Democrate vs Republican crap aside. It's fun to talk about but eventually something will need to be done.
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