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RetireChrebet Icon : (22 March 2015 - 01:28 PM) Haha I'm jk man, but my point was if you've never seen virginia play you would know they weren't going anywhere. Their offense is just painful to watch.
ROBJETS Icon : (22 March 2015 - 03:46 PM) Lol....point taken. But a couple of things. 1 you do realize Nova and Va are in the same bracket right? 2 at least Va lost to a top 25 ranked opponent. Nova lost to an unranked.
ROBJETS Icon : (22 March 2015 - 03:49 PM) Also VA beat some good teams. Lost to Duke,beat Maryland and split games with NC and Louisville. Their wins against quality and ranked opponents was higher and better than Nova.
ROBJETS Icon : (22 March 2015 - 03:55 PM) NC State didn't even get one vote to be in the top 25
2JBallar01 Icon : (22 March 2015 - 10:53 PM) @RichCimini: Random contract note: Antonio Cromartie's 4 yr/$32M deal with Jets includes only $7M gtd - $5M base + $2M roster bonus at signing. #nyj
Mr_Jet Icon : (23 March 2015 - 11:45 AM) January - February - Izzo - April - May
2JBallar01 Icon : (24 March 2015 - 01:09 PM) @MMehtaNYDN: Jets announce that they have signed DE Stephen Bowen. #nyj
2JBallar01 Icon : (24 March 2015 - 01:09 PM) @DrewfromJersey: Coples days as an OLB are over. He'll be back to DL. Good for the #Jets. Pretty bad news for NFL players and their heads. #Jets
2JBallar01 Icon : (24 March 2015 - 01:10 PM) @DWAZ73: #Jets busy today, signing DE Stephen Bowen & OT Corey Hilliard, and making signing of DE Kevin Vickerson official.
Jetsfan0099 Icon : (24 March 2015 - 03:23 PM) Mike is building some depth and competition
Jetsfan0099 Icon : (24 March 2015 - 03:23 PM) I like it
Jetsfan0099 Icon : (24 March 2015 - 08:10 PM) Jets file tampering charges against Patriots for Kraft's comments
Jetsfan0099 Icon : (24 March 2015 - 08:10 PM) lmao
Jetsfan0099 Icon : (24 March 2015 - 09:53 PM) Jets signing Kellen Davis, TE
Jetsfan0099 Icon : (24 March 2015 - 10:00 PM) Hes a good blocking TE
JSOTF Icon : (25 March 2015 - 06:02 AM) So, the question is.......Do I invest to go see the Jets vs Fish in England this season????????
HarlemHxC814 Icon : (25 March 2015 - 07:10 AM) I'm considering going
HarlemHxC814 Icon : (25 March 2015 - 07:10 AM) My brother is moving to London next year...so I have a reason to be over there
HarlemHxC814 Icon : (25 March 2015 - 07:10 AM) This August I should say
Smedsthejet Icon : (25 March 2015 - 02:59 PM) You both should do it...I'll buy the first (overpriced) beers as well! Got my ticket back in January
HarlemHxC814 Icon : (25 March 2015 - 03:02 PM) Smeds if I come over I'll be sure to check you out
santana Icon : (25 March 2015 - 09:58 PM) FIRE FIREMAN ED
JSOTF Icon : (26 March 2015 - 03:58 AM) Well, I now live accros the pond and maybe some of us could meet up there?
JSOTF Icon : (26 March 2015 - 03:59 AM) Smeds, where did you get your tickets?
ROBJETS Icon : (26 March 2015 - 05:56 AM) Az bitches!!!
ROBJETS Icon : (26 March 2015 - 06:01 AM) I dont know about all that. As bad as we get over sports the Brits get far worse. You might suffer a huge beat down if you say the wrong thing there. Well maybe not being its televised to the U.S.. Security probably be pretty tight.
ROBJETS Icon : (26 March 2015 - 06:03 AM) Well...... the good thing is I know who to mooch off of now if I go to London.
JSOTF Icon : (26 March 2015 - 06:47 AM) hahahaha, it isnt European Football!
ROBJETS Icon : (26 March 2015 - 07:04 AM) Ive seen a lot of videos. Most countries go psycho over their soccer teams. Ive seen some serious very bloody beat downs. Fans stabbing the players and refs,etc. And they say we are bad in the U.S. not even close to that.
ROBJETS Icon : (26 March 2015 - 07:06 AM) I think one was in Africa....a fan stormed the field and was knifing everyone in sight after his team lost
ROBJETS Icon : (26 March 2015 - 07:08 AM) Hell even in mma when the Brits come over they are all cocky as hell. Big time cocky like they are going to easily destroy everyone they face cocky.
JSOTF Icon : (26 March 2015 - 07:36 AM) hahahaha
JSOTF Icon : (26 March 2015 - 07:36 AM) damn Europeans!
JSOTF Icon : (26 March 2015 - 07:37 AM) They havent fucked with a disgruntled, lifelong Jets fan!!!
Smedsthejet Icon : (26 March 2015 - 02:49 PM) Got my tickets from Ticketmaster the day they went on general sale
ROBJETS Icon : (Yesterday, 02:33 AM) You guys get Bellator in London? http://www.bellator.com/schedule its on Spike tv free regular cable channel. in the U.S. and the prelims are free on http://www.spike.com/
ROBJETS Icon : (Yesterday, 02:37 AM) London is 4 hours ahead of east coast U.S. Bellator prelims are 7pm Friday night U.S. East Coast time and the main card is 9pm So just add 4 hours to that if you can catch either. Im sure you can catch a stream or use a U.S. VPN if you dont have access to Spike.com. You guys might get Bellator on another channel their just like with the UFC.
ROBJETS Icon : (Yesterday, 02:47 AM) Anyway only reason I mentioned it was because of your sense of humor. The last Bellator 134 was called the British Invasion. If you watch mma Might want to add this site to your favorites http://www.mmauk.net...y/bellatornews/
ROBJETS Icon : (Yesterday, 02:55 AM) There was one of those hour long shows about the upcoming event featuring the fighters the prior week to Bellator 134 and all 4 of the Brits were cocky as hell. Yelling "The British are coming!!!!"
ROBJETS Icon : (Yesterday, 02:57 AM) By the way 135 is tonight if you are interested. I used to watch pretty much all the televised mma now I stick with Bellator and UFC only
ROBJETS Icon : (Yesterday, 03:07 AM) that last link is a UK mma site. Only reason i added it. http://www.sherdog.com/ is pretty much the best mma site on the net for everything mma
JSOTF Icon : (Yesterday, 07:08 AM) I actually live in Germany
azjetfan Icon : (Yesterday, 09:08 PM) Just got done sitting in traffic for 3 hours in Louisville KY.
azjetfan Icon : (Yesterday, 09:09 PM) Unbelievably poor planning by the DOT.
santana Icon : (Today, 05:48 PM) Favre on my TV selling shaving razors so I bought a years supply
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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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