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azjetfan Icon : (13 August 2016 - 05:03 PM) The Cowboys may trade a player or a pick for Geno. With Romo being brittle and them having zero depth I could see them giving something.
azjetfan Icon : (13 August 2016 - 05:04 PM) I'm really not an anti Geno guy though. If he can mature he can play in this league. He has the physical talents but lacks the drive.
santana Icon : (13 August 2016 - 06:06 PM) I doubt anyone trades for geno
santana Icon : (13 August 2016 - 06:07 PM) jets would get like a 6th rounder for him his value would be better on the bench
Chaos Icon : (13 August 2016 - 06:25 PM) yes, yes, let's cut the former 9th overall pick because he had a poor preseason game and deal with a no good $4M cap hit.
Chaos Icon : (13 August 2016 - 06:26 PM) who would you sign to be #2? or do you seriously think petty is good for the job?
santana Icon : (13 August 2016 - 06:37 PM) the backup is always ready for the job is the jets fan mantra
santana Icon : (13 August 2016 - 06:46 PM) I need a backup
santana Icon : (13 August 2016 - 06:46 PM) WHERES MY BACKUP
vjdbbq Icon : (15 August 2016 - 07:52 AM) Would someone scratch bobrob42 ?
ROBJETS Icon : (16 August 2016 - 03:33 AM) Az..... Apparently you didn't watch the Cowboys preseason game. Romo didn't play and their current backup played a good bit with starters and backups and he looked great. Almost like a veteran. They would have 0 interest in trading for Geno now.
vjdbbq Icon : (16 August 2016 - 01:57 PM) ROB is back ; ,how's the ass ?
Chaos Icon : (18 August 2016 - 12:18 PM) we need 1 more for fantasy football!
Jetsfan115 Icon : (19 August 2016 - 06:27 PM) game stream http://ifirstrowus.e...-york-jets.html
MikeGangGree... Icon : (19 August 2016 - 07:06 PM) defense is playing like shit
MikeGangGree... Icon : (19 August 2016 - 09:00 PM) Geno still sucks
MikeGangGree... Icon : (19 August 2016 - 09:08 PM) Petty 9/15 120 yards and a TD
MikeGangGree... Icon : (19 August 2016 - 09:27 PM) Sudfeld sucks 2 fumbles
MikeGangGree... Icon : (19 August 2016 - 09:28 PM) petty had then in the red zone going for the go ahead score
MikeGangGree... Icon : (19 August 2016 - 09:31 PM) OK we at the wash 42
MikeGangGree... Icon : (19 August 2016 - 09:32 PM) WOOOO TD!!
MikeGangGree... Icon : (19 August 2016 - 09:32 PM) f*** you Geno. Lets keep Petty
MikeGangGree... Icon : (19 August 2016 - 09:40 PM) Petty 15/24 230 yards and 2 TDs
MikeGangGree... Icon : (19 August 2016 - 09:40 PM) Geno 6/13 1Int
MikeGangGree... Icon : (19 August 2016 - 09:46 PM) BOOOO we lose
santana Icon : (20 August 2016 - 09:29 AM) I was at the game and I thought fitz looked like crapola
vjdbbq Icon : (21 August 2016 - 01:01 PM) You were looking at GENO !!!!!!!!!!!
santana Icon : (21 August 2016 - 02:24 PM) you have a crush on geno don't you
santana Icon : (21 August 2016 - 02:24 PM) it's ok
ganggreen2003 Icon : (21 August 2016 - 07:10 PM) WTF is taking so long to cut geno and milliner
ganggreen2003 Icon : (21 August 2016 - 07:10 PM) they both are bums and need to go away
Chaos Icon : (22 August 2016 - 08:29 AM) it makes zero sense to cut them.
Chaos Icon : (22 August 2016 - 08:30 AM) this isn't fantasy. cutting players has an impact on the cap.
Jetsfan115 Icon : (22 August 2016 - 10:20 AM) becuase we need them
Chaos Icon : (23 August 2016 - 11:25 AM) DRAFT UPDATE:

Date: Tuesday August 30, 2016
Time: 8:00 pm
Jetsfan115 Icon : (23 August 2016 - 02:20 PM) cap stuff http://nyjetsfan.com...showtopic=38899
ROBJETS Icon : (24 August 2016 - 11:20 AM) All the Sanchez fans saying he finally has good receivers so he will play well will probably finally have your eyes opened. Looking like he will likely be cut from the Broncos by the end of preseason. He already lost his starting job to the backup and the rookie qb is playing decent too
ROBJETS Icon : (24 August 2016 - 11:21 AM) Sanchez isn't starting this week and may not play at all
ROBJETS Icon : (24 August 2016 - 11:22 AM) SOURCE: NFL LIVE yesterday
ROBJETS Icon : (24 August 2016 - 11:24 AM) 3 turnovers and one td in 2016 preseason
santana Icon : (25 August 2016 - 07:20 AM) he will probably start until week 4 lol hes their geno smith
santana Icon : (25 August 2016 - 07:20 AM) https://youtu.be/f7FZ04xFa2Q
Jetsfan115 Icon : (25 August 2016 - 06:37 PM) Browns trade former first-round pick Barkevious Mingo to Patriots
Jetsfan115 Icon : (25 August 2016 - 06:37 PM) for a conditional draft pick
Jetsfan115 Icon : (Yesterday, 05:43 PM) enunwa out for tomorrows game. should give the young WRs some good reps with the first team. CUrious as to who starts in the slot. Will give a good idea of who the jets consider at the top of the group
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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.

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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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