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ALL WE NEEDED WAS A FIELD GOAL
santana Icon : (17 October 2014 - 06:25 PM) its deff a good move for the jets they will probably manage to sell some tickets for the rest of the year
518-JeTS-FaN Icon : (17 October 2014 - 06:26 PM) nice to see a move finally, hopefully he can stay healthy and give us a spark
santana Icon : (17 October 2014 - 06:27 PM) put a spork in that salad
Jetsfan0099 Icon : (17 October 2014 - 06:39 PM) Should have gotten desean Jackson this offsesson
518-JeTS-FaN Icon : (17 October 2014 - 06:43 PM) yup
V DidDy 210 Icon : (17 October 2014 - 06:44 PM) wowsers
V DidDy 210 Icon : (17 October 2014 - 06:44 PM) i'm still crying from last night
V DidDy 210 Icon : (17 October 2014 - 06:44 PM) and on top of that the jets fuccked me again by getting harvin before he could play this week lol
santana Icon : (17 October 2014 - 07:33 PM) stop your crying THERE'S NO CRYING AT NYJETSFAN
Jetsfan0099 Icon : (Yesterday, 08:12 AM) Jets are cutting David Nelson
jetfan4life12 Icon : (Yesterday, 09:15 AM) the probably could have had Santana Moss cheap. He has been healthy all season but inactive every week
HarlemHxC814 Icon : (Yesterday, 11:06 AM) I'd prefer to keep him and cut Salas
santana Icon : (Yesterday, 11:36 AM) you would of thought david nelson would of been more of a redzone threat by this point. hes a big dude.
santana Icon : (Yesterday, 11:39 AM) real madrid shooting practice continues
santana Icon : (Yesterday, 12:02 PM) arent there some other names that could have been cut instead
santana Icon : (Yesterday, 12:03 PM) chris owusu
Jetsfan0099 Icon : (Yesterday, 01:21 PM) Salas is better than Nelson
Jetsfan0099 Icon : (Yesterday, 01:22 PM) Nelson is rated as the worst wr in football this season
santana Icon : (Yesterday, 01:34 PM) he has to better than owusu or graham
518-JeTS-FaN Icon : (Yesterday, 04:36 PM) I posted an article about harvin and some of his issues. Dude seems like a wack job with talent. Hope rex can corral this guy or he could make the locker room implode
santana Icon : (Today, 11:43 AM) Wasn't demean Jackson vilified as a gang affiliated street thug during his Philly release
santana Icon : (Today, 12:31 PM) damn football sunday and no ones on
Canuck Jet Icon : (Today, 01:00 PM) Yeah, cuz Rex is so good at developing offensive talent; 0 - Infinity
Canuck Jet Icon : (Today, 01:02 PM) Harvin is Holmes 2.0, except punches for general bitchiness and annoying first down celebrations.
santana Icon : (Today, 01:03 PM) i'm not buying into the media nonsense
Jetsfan0099 Icon : (Today, 01:06 PM) Harvin is a playmaker, we needed one.
Canuck Jet Icon : (Today, 01:15 PM) I hope he tears it up as a Jet, but he's been tossed from 2 teams in as many years and hasn't cracked 1000 yds in his career. I wouldn't be surprised if he had CTE from those brutal head hits, hence the aggression of late.
santana Icon : (Today, 01:18 PM) I was tossed from two t-ball teams and some people still say i was the best hitter on timid deer lane
santana Icon : (Today, 01:20 PM) bills RBs dropping like flies
Canuck Jet Icon : (Today, 01:20 PM) We'll only really know when the autopsy his brain. Stay tuned! Guy never should have played the Super Bowl after the 2 concussions he suffered against the Saints.
santana Icon : (Today, 01:26 PM) whitehurst clipboard jesus
santana Icon : (Today, 02:54 PM) brian shottenheimer must of lost his mind haha
V DidDy 210 Icon : (Today, 03:11 PM) fuckin orton
V DidDy 210 Icon : (Today, 03:11 PM) how does he keep doing it?
santana Icon : (Today, 04:53 PM) Jack Daniels
santana Icon : (Today, 06:25 PM) murray horse
santana Icon : (Today, 08:28 PM) GOD DAMN IT ANQUAN
santana Icon : (Today, 08:29 PM) what is this amateur hour!?!?!?
santana Icon : (Today, 08:29 PM) come on!
ganggreen2003 Icon : (Today, 08:43 PM) Manning just broke the Passing TD record
ganggreen2003 Icon : (Today, 08:44 PM) :boredom: we could of had him a few years ago
ganggreen2003 Icon : (Today, 08:44 PM) but at least he didn't break it on us
santana Icon : (Today, 08:45 PM) I don't think he wanted to be here
santana Icon : (Today, 08:46 PM) I don't really care for passing records being broken. Qbs now have a lot of rules in their favor
santana Icon : (Today, 08:46 PM) I mean even the catch that got them into the redzone was a PI call that wouldnt of been called when favre played
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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.


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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