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Jetsfan115 Icon : (28 April 2016 - 10:03 PM) Broncos traded up for lynch
MikeGangGree... Icon : (28 April 2016 - 10:41 PM) Round 1 is done
2JBallar01 Icon : (29 April 2016 - 12:43 AM) He will play ILB for us.
Jetsfan115 Icon : (29 April 2016 - 11:08 AM) http://nyjetsfan.com...showtopic=38865
Jetsfan115 Icon : (29 April 2016 - 11:19 AM) jets tried to trade up for tunsil but the price was too high
Jetsfan0099 Icon : (29 April 2016 - 05:10 PM) Tunsil will end up out of the league
Jetsfan0099 Icon : (29 April 2016 - 05:12 PM) Lee isn't a pass rusher, hes a fast athletic LB. Hes probably their future at ILB, someone who can cover in the middle
Jetsfan115 Icon : (29 April 2016 - 06:16 PM) jets said he's an ILB for us
Jetsfan115 Icon : (29 April 2016 - 06:17 PM) If we could grab jack he would be an OLB
Jetsfan115 Icon : (29 April 2016 - 06:17 PM) ttians have 3 picks in the next 13 picks
Jetsfan115 Icon : (29 April 2016 - 06:33 PM) jack to jax 36th overal
ganggreen2003 Icon : (29 April 2016 - 06:33 PM) Did you hear that the 1st round pick for the Browns RETIRED after getting drafted
SoReALSoJetS Icon : (29 April 2016 - 07:29 PM) Hi guys long time no talk hope everyone is well
Mr_Jet Icon : (29 April 2016 - 07:46 PM) SMH
ganggreen2003 Icon : (29 April 2016 - 07:46 PM) JETS drafted QB Hackenberg PSU
Mr_Jet Icon : (29 April 2016 - 07:47 PM) Should have picked Connor Cook.
MikeGangGree... Icon : (29 April 2016 - 07:56 PM) I guess we are giving up on petty
Jetsfan115 Icon : (29 April 2016 - 09:02 PM) Or giving up on geno
Jetsfan115 Icon : (29 April 2016 - 09:02 PM) I said the rumor was they liked him more then cook
Mr_Jet Icon : (29 April 2016 - 11:35 PM) I know I'm biased, but I've seen them both play. Cook is just better. Hackenberg had one good year. Cook has won more games, played in big games and won them....whatever, its done now so no sense on dwelling on it I guess. I just don't see the appeal in Hackenberg, nice kid, but I always thought he was really overrated. Oh well. I would have taken Kevin Hogan over Hackenberg.
azjetfan Icon : (30 April 2016 - 03:47 PM) From what I have read so far he had a great freshman year under Obrien in a pro style offense. At that point some considered him the next Andrew luck. Then Obrien left and they shifted to a spread under new HC who did poor job bringing in talent. He was also sacked and hit a million times. Might be shell shocked.
Smedsthejet Icon : (01 May 2016 - 06:17 AM) But Chan Gailey runs a spread system - still, I'm comfortable with the Hackenberg pick seeing as Gailey will develop the system to suit his strength... I'm just glad that we passed on Paxton Lynch in the first...we still desperately need Fitz to re-sign though
azjetfan Icon : (01 May 2016 - 07:14 PM) From my understanding the spread in college and the spread in NFL are not the same principals. I really think it was more of a talent issue and getting sacked 80 times in 2 years that did him in. I have no idea if he will make it. I don't follow college ball enough to to know. Theses are just things I read in articles.
Jetsfan115 Icon : (02 May 2016 - 10:24 AM) I'm stoked about getting peake in the 7th round. that was a steal. he was a projected 3rd rounder. wonder what scared teams away
Jetsfan115 Icon : (02 May 2016 - 06:05 PM) Jets Invite Terron Beckham(Odell's Cousin) to Minicamp
Jetsfan115 Icon : (02 May 2016 - 06:06 PM) Listed as a RB had more bench presses and highest vertical of anyone this year. Hasn't played football since high school and apparently not very smart
Jetsfan0099 Icon : (03 May 2016 - 05:16 PM) The Jets had Hackenberg as their #2 rated QB
Jetsfan0099 Icon : (03 May 2016 - 05:16 PM) Apparently, they loved Golf and tried to trade up. When that failed, their #2 QB was Hackenberg, they fell in love with his football IQ
Jetsfan0099 Icon : (03 May 2016 - 05:17 PM) It would be a mistake to start him right away, hes a guy who needs development. He has the talent, and apparently he has good leadership skills and football IQ. His mechanics are off though
HarlemHxC814 Icon : (10 May 2016 - 12:25 PM) Is this street thug Ryan Fitzpatrick ever gonna sign?
SecondHandJets Icon : (11 May 2016 - 02:03 PM) Hey guy
SecondHandJets Icon : (11 May 2016 - 02:03 PM) Is everyone excited for the Geno Smith Era?
SecondHandJets Icon : (11 May 2016 - 02:04 PM) Finally the kid can show us what he can do
SecondHandJets Icon : (11 May 2016 - 02:04 PM) I know Mr Jet is excited
SecondHandJets Icon : (11 May 2016 - 02:04 PM) I know Harlem is too
SecondHandJets Icon : (11 May 2016 - 02:04 PM) GO TEAM!
Jetsfan115 Icon : (18 May 2016 - 10:40 AM) from the looks of it, nobody is excited lol
santana Icon : (18 May 2016 - 10:27 PM) I'm excited for geno smith. His jaw will survive the off season.
Jetsfan115 Icon : (19 May 2016 - 06:26 PM) not true, never know who might punch him
MikeGangGree... Icon : (21 May 2016 - 05:38 PM) f*** Geno smith
MikeGangGree... Icon : (21 May 2016 - 05:39 PM) J-E-T-S JETS JETS JETS!!!
mgjetman Icon : (23 May 2016 - 02:01 PM) Geno really needs to go away. Double f**k Geno.
Jetsfan115 Icon : (23 May 2016 - 02:21 PM) Fitzpatrick said he wants to play for the jets and that he won't retire
HarlemHxC814 Icon : (23 May 2016 - 06:50 PM) This street thug Darron Lee hasn't signed yet
MikeGangGree... Icon : (25 May 2016 - 05:32 PM) that damn dirty street thug
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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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