trysail
Catch Me Who Can
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"Helicopter" Ben Bernanke's monetary policy:
What happened to all of the doom and gloom economic threads?
- Thread starter Ulaven_Demorte
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"Helicopter" Ben Bernanke's monetary policy:
IrezumiKiss
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Busybody
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Obamanomics: Chicago PMI Shows Sharp Contraction In Economy, Back To Recession Levels…
Via CNBC:
Business activity in the U.S. Midwest contracted this month for the first time since September 2009, as new orders sank, a report showed on Friday.
The Institute for Supply Management-Chicago business barometer fell to 49.7 from 53.0 in August. Economists had forecast an unchanged reading of 53.
A reading below 50 indicates contraction in the regional economy.
The forward-looking new orders index plummeted to 47.4, from 54.8. while the gauge of employment sank to 52.0 from 57.1 last month.
Following the report, stocks added to their losses on the final trading day of the third quarter and amid uncertainty ahead of the result of stress tests on Spanish banks.
Via CNBC:
Business activity in the U.S. Midwest contracted this month for the first time since September 2009, as new orders sank, a report showed on Friday.
The Institute for Supply Management-Chicago business barometer fell to 49.7 from 53.0 in August. Economists had forecast an unchanged reading of 53.
A reading below 50 indicates contraction in the regional economy.
The forward-looking new orders index plummeted to 47.4, from 54.8. while the gauge of employment sank to 52.0 from 57.1 last month.
Following the report, stocks added to their losses on the final trading day of the third quarter and amid uncertainty ahead of the result of stress tests on Spanish banks.
Busybody
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Top Five Worst Obamacare Taxes Coming in 2013
Starting the January, American citizens will be hit with 20 new or raised taxes that come with Obamacare. Here is a description of the five worst taxes.
Of the twenty new or higher taxes in Obamacare, below are the five worst that will be foisted upon Americans for the first time on January 1, 2013:
The Obamacare Medical Device Tax – a $20 billion tax increase: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to prosthetics more expensive.
The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase: The 30-35 million Americans who use a Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2,500 (currently the accounts are unlimited under federal law, though employers are allowed to set a cap).
There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. This Obamacare tax provision will limit the options available to these families.
The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:
Capital Gains
Dividends
Other*
2012
15%
15%
35%
2013+ (current law)
23.8%
43.4%
43.4%
The table above also incorporates the scheduled hike in the capital gains rate from 15 to 20 percent, and the scheduled hike in dividends rate from 15 to 39.6 percent.
The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: Currently, those Americans facing high medical expenses are allowed a deduction to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). This tax increase imposes a threshold of 10 percent of AGI. By limiting this deduction, Obamacare widens the net of taxable income for the sickest Americans. This tax provision will most harm near retirees and those with modest incomes but high medical bills.
The Obamacare Medicare Payroll Tax Hike -- an $86.8 billion tax increase: The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits. Under this tax hike, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate instead. This is a direct marginal income tax hike on small business owners, who are liable for self-employment tax in most cases. The table below compares current law vs. the Obamacare Medicare Payroll Tax Hike:
First $200,000
($250,000 Married)
Employer/Employee
All Remaining Wages
Employer/Employee
Current Law
1.45%/1.45%
2.9% self-employed
1.45%/1.45%
2.9% self-employed
Obamacare Tax Hike
1.45%/1.45%
2.9% self-employed
1.45%/2.35%
3.8% self-employed
Read more: http://atr.org/five-worst-obamacare-taxes-coming-a7217#ixzz27naQ9KW0
Starting the January, American citizens will be hit with 20 new or raised taxes that come with Obamacare. Here is a description of the five worst taxes.
Of the twenty new or higher taxes in Obamacare, below are the five worst that will be foisted upon Americans for the first time on January 1, 2013:
The Obamacare Medical Device Tax – a $20 billion tax increase: Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year. In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to prosthetics more expensive.
The Obamacare “Special Needs Kids Tax” – a $13 billion tax increase: The 30-35 million Americans who use a Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs will face a new government cap of $2,500 (currently the accounts are unlimited under federal law, though employers are allowed to set a cap).
There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are several million families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. This Obamacare tax provision will limit the options available to these families.
The Obamacare Surtax on Investment Income – a $123 billion tax increase: This is a new, 3.8 percentage point surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income:
Capital Gains
Dividends
Other*
2012
15%
15%
35%
2013+ (current law)
23.8%
43.4%
43.4%
The table above also incorporates the scheduled hike in the capital gains rate from 15 to 20 percent, and the scheduled hike in dividends rate from 15 to 39.6 percent.
The Obamacare “Haircut” for Medical Itemized Deductions – a $15.2 billion tax increase: Currently, those Americans facing high medical expenses are allowed a deduction to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). This tax increase imposes a threshold of 10 percent of AGI. By limiting this deduction, Obamacare widens the net of taxable income for the sickest Americans. This tax provision will most harm near retirees and those with modest incomes but high medical bills.
The Obamacare Medicare Payroll Tax Hike -- an $86.8 billion tax increase: The Medicare payroll tax is currently 2.9 percent on all wages and self-employment profits. Under this tax hike, wages and profits exceeding $200,000 ($250,000 in the case of married couples) will face a 3.8 percent rate instead. This is a direct marginal income tax hike on small business owners, who are liable for self-employment tax in most cases. The table below compares current law vs. the Obamacare Medicare Payroll Tax Hike:
First $200,000
($250,000 Married)
Employer/Employee
All Remaining Wages
Employer/Employee
Current Law
1.45%/1.45%
2.9% self-employed
1.45%/1.45%
2.9% self-employed
Obamacare Tax Hike
1.45%/1.45%
2.9% self-employed
1.45%/2.35%
3.8% self-employed
Read more: http://atr.org/five-worst-obamacare-taxes-coming-a7217#ixzz27naQ9KW0
4est_4est_Gump
Run Forrest! RUN!
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We're really bending the cost curve now...
RobDownSouth
No Kings
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More bad news, I'm surprised AJ hasn't picked this up:
Iran's rial plummets against the US dollar to historic low.
I blame Obama.
Iran's rial plummets against the US dollar to historic low.
I blame Obama.
Busybody
We are ALL BUSYBODY!
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Federal Government Offers Bribes to Hide the Coming Job Losses … Until After the Election
I’ve written a few posts about the sequestration cuts which are sizable cuts in the Defense Department’s budget that will lead to hundreds of thousands of job losses. A controversy arose when by law the companies have to alert employees to the cuts but the Obama Administration wants to hide this fact from the public. This is part of their double-game I alluded to in the piece this morning where Obama mouths the words he’s against the budget cuts (and job losses) but does absolutely nothing to stop either. The Hill picks up on the latest efforts to silence the Defense contractors who by law are supposed to inform employees of the looming job cuts. The Obama Labor Department is offering bribes to the contractors to violate the law:
The Obama administration issued new guidance intended for defense contractors Friday afternoon, reiterating the administration’s position that the companies should not be issuing layoff notices over sequestration. The Labor Department issued guidance in July saying it would be “inappropriate” for contractors to issue notices of potential layoffs tied to sequestration cuts. But a few contractors, most notably Lockheed Martin, said they still were considering whether to issue the notices — which would be sent out just days before the November election.
But the Friday guidance from the Office of Management and Budget raised the stakes in the dispute, telling contractors that they would be compensated for legal costs if layoffs occur due to contract cancellations under sequestration — but only if the contractors follow the Labor guidance. The guidance said that if plant closings or mass layoffs occur under sequestration, then “employee compensation costs for [Worker Adjustment and Retraining Notification] WARN act liability as determined by a court” would be paid for covered by the contracting federal agency.
bribe [ brīb ] 1. persuade somebody with enticement: to give somebody money or some other incentive to do something, especially something illegal or dishonest
Senate Republicans, who accused the White House of trying to hide job losses after the first guidance, said Friday that the new OMB statement “puts politics ahead of American workers.” “The Obama Administration is cynically trying to skirt the WARN Act to keep the American people in the dark about this looming national security and fiscal crisis,” Sens. John McCain (R-Ariz.), Lindsey Graham (R-S.C.) and Kelly Ayotte (R-N.H.) said in a statement. “The president should insist that companies act in accordance with the clearly stated law and move forward with the layoff notices.”The fight over WARN Act notices began in June when Lockheed Martin CEO Bob Stevens said his company might send the notices to all 123,000 of its employees.
Quid pro quo
But the new guidance would appear to address one of the chief concerns from the companies — that they could be liable to compensate employees who were laid off if the companies don’t issue the notices. The GOP senators complained, however, that this tactic would push the cost of the layoffs onto taxpayers.
For a refresher, here is the relevant part of the WARN Act:
What Triggers Notice
Plant Closing: A covered employer must give notice if an employment site (or one or more facilities or operating units within an employment site) will be shut down, and the shutdown will result in an employment loss (as defined later) for 50 or more employees during any 30-day period. This does not count employees who have worked less than 6 months in the last 12 months or employees who work an average of less than 20 hours a week for that employer. These latter groups, however, are entitled to notice (discussed later).
Mass Layoff: A covered employer must give notice if there is to be a mass layoff which does not result from a plant closing, but which will result in an employment loss at the employment site during any 30-day period for 500 or more employees, or for 50-499 employees if they make up at least 33% of the employer’s active workforce. Again, this does not count employees who have worked less than 6 months in the last 12 months or employees who work an average of less than 20 hours a week for that employer. These latter groups, however, are entitled to notice (discussed later).
I’ve written a few posts about the sequestration cuts which are sizable cuts in the Defense Department’s budget that will lead to hundreds of thousands of job losses. A controversy arose when by law the companies have to alert employees to the cuts but the Obama Administration wants to hide this fact from the public. This is part of their double-game I alluded to in the piece this morning where Obama mouths the words he’s against the budget cuts (and job losses) but does absolutely nothing to stop either. The Hill picks up on the latest efforts to silence the Defense contractors who by law are supposed to inform employees of the looming job cuts. The Obama Labor Department is offering bribes to the contractors to violate the law:
The Obama administration issued new guidance intended for defense contractors Friday afternoon, reiterating the administration’s position that the companies should not be issuing layoff notices over sequestration. The Labor Department issued guidance in July saying it would be “inappropriate” for contractors to issue notices of potential layoffs tied to sequestration cuts. But a few contractors, most notably Lockheed Martin, said they still were considering whether to issue the notices — which would be sent out just days before the November election.
But the Friday guidance from the Office of Management and Budget raised the stakes in the dispute, telling contractors that they would be compensated for legal costs if layoffs occur due to contract cancellations under sequestration — but only if the contractors follow the Labor guidance. The guidance said that if plant closings or mass layoffs occur under sequestration, then “employee compensation costs for [Worker Adjustment and Retraining Notification] WARN act liability as determined by a court” would be paid for covered by the contracting federal agency.
bribe [ brīb ] 1. persuade somebody with enticement: to give somebody money or some other incentive to do something, especially something illegal or dishonest
Senate Republicans, who accused the White House of trying to hide job losses after the first guidance, said Friday that the new OMB statement “puts politics ahead of American workers.” “The Obama Administration is cynically trying to skirt the WARN Act to keep the American people in the dark about this looming national security and fiscal crisis,” Sens. John McCain (R-Ariz.), Lindsey Graham (R-S.C.) and Kelly Ayotte (R-N.H.) said in a statement. “The president should insist that companies act in accordance with the clearly stated law and move forward with the layoff notices.”The fight over WARN Act notices began in June when Lockheed Martin CEO Bob Stevens said his company might send the notices to all 123,000 of its employees.
Quid pro quo
But the new guidance would appear to address one of the chief concerns from the companies — that they could be liable to compensate employees who were laid off if the companies don’t issue the notices. The GOP senators complained, however, that this tactic would push the cost of the layoffs onto taxpayers.
For a refresher, here is the relevant part of the WARN Act:
What Triggers Notice
Plant Closing: A covered employer must give notice if an employment site (or one or more facilities or operating units within an employment site) will be shut down, and the shutdown will result in an employment loss (as defined later) for 50 or more employees during any 30-day period. This does not count employees who have worked less than 6 months in the last 12 months or employees who work an average of less than 20 hours a week for that employer. These latter groups, however, are entitled to notice (discussed later).
Mass Layoff: A covered employer must give notice if there is to be a mass layoff which does not result from a plant closing, but which will result in an employment loss at the employment site during any 30-day period for 500 or more employees, or for 50-499 employees if they make up at least 33% of the employer’s active workforce. Again, this does not count employees who have worked less than 6 months in the last 12 months or employees who work an average of less than 20 hours a week for that employer. These latter groups, however, are entitled to notice (discussed later).
4est_4est_Gump
Run Forrest! RUN!
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More Middle Class taxes go under the radar...
Libs blame Reagan...
Your Universal Service Fee at Work
Rosslyn Smith, The American Thinker
September 30, 2012
Libs blame Reagan...
Your Universal Service Fee at Work
Rosslyn Smith, The American Thinker
September 30, 2012
RobDownSouth
No Kings
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You know the economy is getting better when all AJ has to bitch about are Reaganphones. It's sorta cute to watch him try and rebrand them as "Obamaphones" now that they are unpopular in conservative circles.
Yeah AJ...we know...
You didn't "say" that....
You didn't "comment" on that....
You merely "passed it along".....
That's one of the reasons you were judged unfit to adopt American children...
Yeah AJ...we know...
You didn't "say" that....
You didn't "comment" on that....
You merely "passed it along".....
That's one of the reasons you were judged unfit to adopt American children...
Busybody
We are ALL BUSYBODY!
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LOOKS LIKE WE’RE IN FOR NASTY WEATHER: CNBC reports “‘Zombie Economy’ May Give Markets a Scare in October.”
Or as Mike Flynn writes at Big Government, “Storm Clouds: The Looming Obama Recession:”
Make no mistake, the deteriorating economic situation is the result of Obama’s policies. Since the end of the recession we’ve had massive stimulus, auto bailouts, cash for clunkers, ObamaCare, Dodd Frank and a host of new regulations. We have also been promised a huge tax increase should Obama win reelection. If you were intentionally trying to trigger a recession, you’d be hard pressed to come up with more effective policies.
Obama’s reelection campaign is predicated on the myth that the economy, while weak, is steadily improving. It isn’t–at all. Come November, Obama ought to take his rightful place in the unemployment line.
Or else a lot more of the rest of us will.
Or as Mike Flynn writes at Big Government, “Storm Clouds: The Looming Obama Recession:”
Make no mistake, the deteriorating economic situation is the result of Obama’s policies. Since the end of the recession we’ve had massive stimulus, auto bailouts, cash for clunkers, ObamaCare, Dodd Frank and a host of new regulations. We have also been promised a huge tax increase should Obama win reelection. If you were intentionally trying to trigger a recession, you’d be hard pressed to come up with more effective policies.
Obama’s reelection campaign is predicated on the myth that the economy, while weak, is steadily improving. It isn’t–at all. Come November, Obama ought to take his rightful place in the unemployment line.
Or else a lot more of the rest of us will.
4est_4est_Gump
Run Forrest! RUN!
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Do not worry, merc's, KO's, Sean's, Phrodeau's and Throb's handlers know how to make down look like up; they will just show that it was worse than they thought it was worse than they thought when it was proved to be worse than when they inherited this mess from Bush which was the worst economy since Eve bit into that "free" apple...
But look, since they saved us from the worst of the worst of the worst SIR! They deserve fore more years.
Watch, as soon as the results are announced, the Obama family will make up for all the vacations they "sacrificed" in the last 9 months...
Hell we might not see him, or them, again until the Summer of Recovery 2013 when once again he will patiently explain that the mess the last administration was worse than anyone, even JK Rowlings, could ever imagine and as Bill Maher points out, we muggles just do not have the capacity to understand just how hard it is to turn an aircraft carrier around, but do not worry, the "Mission Accomplished" banner is still there for when it does!
And then they will be off on Summer vacation...
But look, since they saved us from the worst of the worst of the worst SIR! They deserve fore more years.
Watch, as soon as the results are announced, the Obama family will make up for all the vacations they "sacrificed" in the last 9 months...
Hell we might not see him, or them, again until the Summer of Recovery 2013 when once again he will patiently explain that the mess the last administration was worse than anyone, even JK Rowlings, could ever imagine and as Bill Maher points out, we muggles just do not have the capacity to understand just how hard it is to turn an aircraft carrier around, but do not worry, the "Mission Accomplished" banner is still there for when it does!
And then they will be off on Summer vacation...
RobDownSouth
No Kings
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Paul Ryan just told Chris Wallace on Fox News Sunday that he "doesn't have time" to explain how much money the Ryan/Romney tax plan will cost him.
Reminds me of the old days of Saturday morning rassling, Jesse The Body Ventura telling Vince McMahon "I ain't got time to explain this to ya".
Ryan can't explain his plan without admitting that he gonna soak the middle class, so he's put his deflectors up to AJ-levels.
Reminds me of the old days of Saturday morning rassling, Jesse The Body Ventura telling Vince McMahon "I ain't got time to explain this to ya".
Ryan can't explain his plan without admitting that he gonna soak the middle class, so he's put his deflectors up to AJ-levels.
mercury14
Pragmatic Metaphysician
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How are even conservative voters not completely insulted by this? Serious question.
SgtSpiderMan
Literotica Guru
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You're insane. The Republican Party has been saying for months how great the economy is.
U
unregistered
Guest
RobDownSouth
No Kings
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Excellent rationalization.
Now, tell us why it wasn't really Jerry Sandusky's fault that he molested those boys in the shower.
Ok , now tell us why its not really obuma fault the USA is F up
mercury14
Pragmatic Metaphysician
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How long have Romney and Ryan had to put the "math" behind their plan on their website?
4est_4est_Gump
Run Forrest! RUN!
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RobDownSouth
No Kings
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I don't have enough time to tell you, Chris.
Beco
I'm Not Your Guru
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pete
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koalabear
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EXECUTIVE ORDERS ISSUED…
Teddy Roosevelt 3
Others to FDR NONE
FDR 11 in 16 years
Truman 5 in 7 years
Ike 2 in 8 years
Kennedy 4 in 3 years
LBJ 4 in 5 years
Nixon 1 in 6 years
Ford 3 in 2 years
Carter 3 in 4 years
Reagan 5 in 8 years
Bush 3 in 4 years
Clinton 15 in 8 years
George W. Bush 62 in 8 years
Obama 923 in 3 1/2 years!
Teddy Roosevelt 3
Others to FDR NONE
FDR 11 in 16 years
Truman 5 in 7 years
Ike 2 in 8 years
Kennedy 4 in 3 years
LBJ 4 in 5 years
Nixon 1 in 6 years
Ford 3 in 2 years
Carter 3 in 4 years
Reagan 5 in 8 years
Bush 3 in 4 years
Clinton 15 in 8 years
George W. Bush 62 in 8 years
Obama 923 in 3 1/2 years!
- Status
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