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Jets pick up option on Wilkerson
Jetsfan115 Icon : (16 April 2014 - 03:33 PM) so i bet powell barely gets any touches this year and goodson gets cut
azjetfan Icon : (16 April 2014 - 03:34 PM) Goodson is as good as gone.
azjetfan Icon : (16 April 2014 - 03:34 PM) With all his legal issues and coming off injury he is done. Possibly even in the NFL
Jetsfan0099 Icon : (16 April 2014 - 03:39 PM) Powell is average anyways.
Chaos Icon : (16 April 2014 - 03:39 PM) @ProFootballTalk 5m

Per source, Chris Johnson's two-year deal has a base value of $8 million, with another $1 million available in incentives based on yardage.
Jetsfan0099 Icon : (16 April 2014 - 03:40 PM) He does a lot of things well, but isn't talented enough. Johnson has breakaway ability still and Ivory is man beast running the football
Jetsfan0099 Icon : (16 April 2014 - 03:41 PM) We will get another WR in the draft. Even in round 2 you can get a starting WR
azjetfan Icon : (16 April 2014 - 04:09 PM) I am still standing by my CB in the first round and WR in the second prediction
santana Icon : (16 April 2014 - 05:19 PM) The title race is bale
azjetfan Icon : (16 April 2014 - 05:34 PM) Sidney rice coming in for a visit
Jetsfan0099 Icon : (16 April 2014 - 05:49 PM) I think the Jets are getting themselves ready to draft best player available
Jetsfan0099 Icon : (16 April 2014 - 05:49 PM) Last year they stuck to their board
HarlemHxC814 Icon : (16 April 2014 - 06:27 PM) if they sign him I think that means they look to take a CB round 1
2JBallar01 Icon : (16 April 2014 - 06:32 PM) “@AdamSchefter: RB Chris Johnson's 2-year deal with Jets has a team option in it for year two. Jets have option to pick up year two at $4M in February 2015.”
Jetsfan0099 Icon : (16 April 2014 - 06:51 PM) @AlbertBreer 2m
Sidney Rice has agreed to terms with the Seahawks on a one-year deal, per source.
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Jetsfan0099 Icon : (16 April 2014 - 06:55 PM) There is really only 2 CBs worth taking at 18
Jetsfan0099 Icon : (16 April 2014 - 06:56 PM) I rather get a offensive playmaker
ganggreen2003 Icon : (16 April 2014 - 06:58 PM) LaMont Jordan was 34
Jetsfan0099 Icon : (16 April 2014 - 06:59 PM) liar
ganggreen2003 Icon : (16 April 2014 - 07:05 PM) He wore #34 when he played for the JETS
ganggreen2003 Icon : (16 April 2014 - 07:05 PM) I should know I met him at an event in his last year with the JETS before he went to Oakland
ganggreen2003 Icon : (16 April 2014 - 07:05 PM) GFYS 0099 you shit talker
HarlemHxC814 Icon : (16 April 2014 - 07:06 PM) http://www.nydailyne...entry-1.1758342
HarlemHxC814 Icon : (16 April 2014 - 07:06 PM) there's no reason we can't have someone off this site on that list too
azjetfan Icon : (16 April 2014 - 07:08 PM) Rice resigned with Seattle
Jetsfan0099 Icon : (16 April 2014 - 07:08 PM) did you scare him into going to Oakland?
Chaos Icon : (16 April 2014 - 08:18 PM) unfortunately those sites are too much bigger than our
MikeGangGree... Icon : (16 April 2014 - 10:51 PM) WOOOO
santana Icon : (16 April 2014 - 11:01 PM) I'm sure it's possible but this isn't a blog site as much as its a login and yell about the jets site
santana Icon : (16 April 2014 - 11:01 PM) WOO
Chaos Icon : (Yesterday, 07:39 AM) yeah...TheGangGreen didn't participate either. they're represented as a forum too on Google
Jetsman05 Icon : (Yesterday, 01:11 PM) offesnive tehhhh
santana Icon : (Yesterday, 01:46 PM) 05 on point today
santana Icon : (Yesterday, 02:36 PM) lol
ganggreen2003 Icon : (Yesterday, 05:31 PM) It's 0099's favorite day of the year
ganggreen2003 Icon : (Yesterday, 05:32 PM) it's National High-5 day :WTF:
ganggreen2003 Icon : (Yesterday, 05:32 PM) who the hell high 5's people anymore
ganggreen2003 Icon : (Yesterday, 05:32 PM) just dap and leave it there
santana Icon : (Yesterday, 05:43 PM) everyone high 5s
santana Icon : (Yesterday, 05:44 PM) bubba watson when he won the masters last weekend went through a gauntlet of high 5s
Jetsfan0099 Icon : (Yesterday, 06:05 PM) GG03 is the high 5 master
Jetsfan0099 Icon : (Yesterday, 06:07 PM) FIRE IDZIK
Mr_Jet Icon : (Yesterday, 10:45 PM) People don't dap anymore either.
ganggreen2003 Icon : (Today, 04:43 PM) Dapping is more manly than high 5ing which is really really really girly
Jetsfan0099 Icon : (Today, 06:05 PM) gg03 doesn't like that people left him hanging
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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...

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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.
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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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