"Recovery Summer"

[spence]

Originally Posted by scottw

no...THE important part is Bill Clinton says the nation’s corporate tax rate is “uncompetitive” and called for a lower rate

and it completely refutes your statements and the idea, your statement "we can justify higher corporate tax rates" that higher taxes on corporations is valid a way to increase revenue, particularly right now

I've never said we can justify having the highest taxes, but that we can justify having higher taxes as the US is a desirable place to do business for many industries. Certainly taxes are a factor (one factor of many) in where companies operate, but right now the effective corporate rate in the US is just over 25%, putting us lower than many industrialized nations including Canada, India, China, Brazil, Japan, Italy and Germany.

Source: http://www.pwc.com/gx/en/paying-taxe...taxes_2009.pdf

Clinton is throwing the GOP a bone in an attempt to be a deal maker and at the same time take away a key Republican talking point. Lowering the Tax rate from 35% to 25% while removing deductions will produce nearly the same tax revenue according to the GAO.

If it will even out how taxes are collected it's probably a good thing to do. These stories of corporations paying little or 1/2 the statutory rate is silly.

-spence

[Saltheart]

The jobless rate is not 9.4. Anybody who lost their job when things went critical in late 08 to early 09 have all dropped off the jobless statistics. The 99'ers (those who exhausted their unemployment benefits) do not exist according to how the jobless rate is determined. The jobless rate in above 20 percent IMO and many say as high as 25% .

[spence]

Originally Posted by Saltheart

The jobless rate is not 9.4. Anybody who lost their job when things went critical in late 08 to early 09 have all dropped off the jobless statistics. The 99'ers (those who exhausted their unemployment benefits) do not exist according to how the jobless rate is determined. The jobless rate in above 20 percent IMO and many say as high as 25% .

The official unemployment number is a measurement taken using one method of accounting. It doesn't reflect just people losing their jobs or the total number not working.

To jump between 9% and 20% isn't good for much beyond rhetoric, unless the argument is that the 9% method isn't accurately modeling the right trends.

There was a CATO article from last year that put the unemployment rate at less than 7% when focusing on people who had actually just become unemployed.

Perhaps more important is to use a consistent methodology. I'm more concerned with the trend...

-spence

[TheSpecialist]

Originally Posted by spence

The official unemployment number is a measurement taken using one method of accounting. It doesn't reflect just people losing their jobs or the total number not working.

To jump between 9% and 20% isn't good for much beyond rhetoric, unless the argument is that the 9% method isn't accurately modeling the right trends.

There was a CATO article from last year that put the unemployment rate at less than 7% when focusing on people who had actually just become unemployed.

Perhaps more important is to use a consistent methodology. I'm more concerned with the trend...

-spence

Rhetoric? It just shows that another 9% of the population is unemployed, and I am sure that the total of the population unemployed by now is closer to 30%

[striperman36]

there is no recovery and it's gonna get worse before it gets better

[justplugit]

Originally Posted by striperman36

there is no recovery and it's gonna get worse before it gets better

Yup, upto 9.2% today. Bad news always released before the
weekend hoping people won't pay that much attention.

Stimulus a complete failure.

Wake up and start cutting taxes for private industry so they know where they stand and can plan and start expansion.

Time for some genuine critical thinking and common sense, theory isn't working.

[spence]

The recent numbers are not good, but when you factor in continued high gas prices and global disruption caused by the nuke disaster and other events this spring there's reason for numbers to be where they are.

The same report by the government also indicated that business investment continuing to be up as companies seek to increase productivity. Hell, the North East is seeing a lot of growth in the aerospace industry keeps cranking out the orders for more aircraft. Parts suppliers in CT are experiencing record earnings.

So the GDP alone isn't reassuring but it's also not all bad.

To be honest I haven't seen anyone this giddy over bad news since Moveon.org mocked Gen. Petraeus.

-spence

[striperman36]

Where are the manufacturing plants though Spence? Off-shore?

[spence]

Originally Posted by striperman36

Where are the manufacturing plants though Spence? Off-shore?

A lot of aero manufacturing is done in CT, PA, NY. Some also have offshore plants but the engineering is done in the US. A huge % of the entire aero supply chain is US based...Granted, it's one industry of many, but they're doing well.

The good/bad element is that companies want to increase throughput without adding burden (i.e. staff) so they're investing in technology to make their existing workforce more productive. There are manufacturing jobs being added, but not at the rate required before.

-spence

[striperman36]

Originally Posted by spence

A lot of aero manufacturing is done in CT, PA, NY. Some also have offshore plants but the engineering is done in the US. A huge % of the entire aero supply chain is US based...Granted, it's one industry of many, but they're doing well.

The good/bad element is that companies want to increase throughput without adding burden (i.e. staff) so they're investing in technology to make their existing workforce more productive. There are manufacturing jobs being added, but not at the rate required before.

-spence

time to start coding more.

[spence]

Originally Posted by striperman36

time to start coding more.

It's interesting to look at the history...

Back in the day a machinist would pretty much do everything by hand. I remember a plant one time (they made aftermarket piston aircraft engines) had all these old lathes from WW2 used to turn tank cam shafts...wow, these things were big.

Then NC programming came about and you'd program a routine by tape.

Then even that got computerized (CNC) but the machinist still has final control. This is how most stuff is done today.

The trend in more tightly regulated industries is now to do everything in CAM software and not modify the code at the machine. It makes sense in some applications (for instance you may be required to know exactly which program made which part years later) but also really takes away from the artistry of the job.

So even though the factory isn't a bunch of robots, the job functions have shifted and become more technical as a result. The technology also allows companies to get better utilization from their production equipment so more parts can be cut without adding a lot of people.

Again, this is just one example, but I think a part of the unemployment problem we have right now is simply a correction as technology is becoming more advanced.

-spence

[justplugit]

Originally Posted by spence

Hell, the North East is seeing a lot of growth in the aerospace industry keeps cranking out the orders for more aircraft.

-spence

Good news, but how will this continue when Obama wants to put more taxes
on Jet owning companies and individuals?

How will that help the little growth we are seeing in that industry.

[scottw]

Originally Posted by spence

The recent numbers are not good brilliant!!!, but when you factor in continued high gas prices and global disruption caused by the nuke disaster and other events this spring there's reason for numbers to be where they are . HUH?
The same report(the report that we just established is worthless and mostly wrong) by the government also indicated that business investment continuing to be up as companies seek to increase productivity. Hell, the North East is seeing a lot of growth in the aerospace industry keeps cranking out the orders for more aircraft. Parts suppliers in CT are experiencing record earnings.

So the GDP alone isn't reassuring (SPENCE"S IRA is "reassuring"...for now...) but it's also not all bad. mostly

To be honest I haven't seen anyone this giddy over bad news since Moveon.org mocked Gen. Petraeus.

-spence

not giddy...just realistic.... and having to constantly point out that when you, Obama or the administration claim something...the opposite is usually true

[detbuch]

Originally Posted by spence

The same report by the government also indicated that business investment continuing to be up as companies seek to increase productivity. Hell, the North East is seeing a lot of growth in the aerospace industry keeps cranking out the orders for more aircraft. Parts suppliers in CT are experiencing record earnings.

So the GDP alone isn't reassuring but it's also not all bad.

-spence

Have you recovered from your gloomy episode a few days ago in "THE SPEECH" thread where you felt that "Real wages continue to lag inflation for several decades now. Wealth generation appears to be more of a product of speculation than productivity in the marketplace"?

Or are you just changing your tone to suit your argument?

[spence]

Originally Posted by detbuch

Have you recovered from your gloomy episode a few days ago in "THE SPEECH" thread where you felt that "Real wages continue to lag inflation for several decades now. Wealth generation appears to be more of a product of speculation than productivity in the marketplace"?

Or are you just changing your tone to suit your argument?

The context for the two remarks are completely different.

-spence

[spence]

You should spend more time talking to actual corporate execs rather than reading Right wing blogs...

-spence

[scottw]

Originally Posted by spence

You should spend more time talking to actual corporate execs rather than reading Right wing blogs...

-spence

all smarm...no substance

you do the high-minded rhetoric thing very well...

but on facts and reality...not so much...

a lot like our current president.............

[scottw]

Originally Posted by spence

You should spend more time talking to actual corporate execs rather than reading Right wing blogs...

-spence

Intel CEO Paul Otellini, referring to Obama and the Democrats, said in an August speech to the Technology Policy Institute's Aspen Forum, "I think this group does not understand what it takes to create jobs."

Verizon CEO Ivan Seidenberg, in a June speech at the Economic Club of Washington, accused Obama of creating an "increasingly hostile environment for investment and job creation."

Cypress Semiconductor's Rodgers told me last week that he had "started out happy with Obama because we had broken through the white male barrier" and made "a step forward for equality." But Rodgers added: "I have become deeply disappointed with him. It is amateur hour in Washington. The guy hasn't got a clue about the economy, how jobs are created, how wealth is created. It reminds me of the Jimmy Carter years, only worse."

Blackstone Group CEO Steven Schwarzman seemed to compare the Obama administration to Hitler by saying in a recent private meeting that Washington's push to increase taxes on private-equity firms is war, "like when Hitler invaded Poland in 1939," according to Newsweek.

July 19, 2011
Publicly-traded companies hold quarterly conference calls where investors are given updates on the state of the company and often hear about positive plans for the future.

Just yesterday, Wynn Resorts (WYNN) CEO Steve Wynn was speaking on a company conference call when he unleashed on President Obama, ranting about what Wynn sees as anti-business, socialist policies that are frightening companies as well as customers.

Bernie Marcus co-founded Home Depot (HD) in 1978 and brought it public in 1981 as the U.S. was suffering from the worst recession and unemployment in 40 years. The company thrived, creating hundreds of thousands of jobs and redefining home improvement retailing.

But Marcus says Home Depot "would never have succeeded" if it launched today due to onerous regulation.

Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.

“It makes U.S. jobs more expensive,” Ballmer said in an interview. “We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.”

"We don't know what the latest great idea from Obama will be. Therefore, we are hunkering down," Cypress Semiconductor CEO T.J. Rodgers.



74% of CEOs Believe Obama Would Be Disastrous for the Nation | October 09, 2008 |

With the nation in the middle of what is being regularly reported as the worst financial crisis since the Great Depression, a new poll found that 74 percent of America's top business leaders fear "an Obama presidency would be disastrous for the country."


i GUESS THEY WERE RIGHT

7/29/11

As U.S. Chamber of Commerce economist Martin Regalia warned Friday, Obama's increased regulation and uncertainty for small businesses "have made it extremely difficult for the economy to grow and create jobs."