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Originally Posted by Renegade Nation:
Originally Posted by JimiHendrix:
We are still living under the Bush economy. Same tax rates. Same job-killing tax rates.

 

Could you give specific examples of lower tax rates "killing" jobs? 

 

I can give specific examples of higher rates killing jobs...congress in 1990 imposed a 10% luxury tax on yachts, expensive cars, etc.  Within 8 months Viking Yachts, the nation's largest yacht manufacturer, laid off 1100 of its 1400 employees and closed 1 of its 2 plants.  They eventually went down to 68 employees.

 

Within one year a third of yacht building companies ceased operations.  By the time the tax was repealed in 1993, 25,000 jobs were lost in the yacht building business with an additional 75,000 in industries that supplied yacht material.  The US went from a net exporter of yachts to a net importer of yachts and jobs shifted to Europe or the Bahamas.

 

Back in 1990 congress said the luxury tax would raise $31M a year.  Instead the tax destroyed over a 100 thousand jobs.  The job losses cost the federal government over $24M in lost income tax revenue and unemployment benefits in fiscal 1991.  The Joint Economic Committee said that the value of jobs lost in just the first 6 months was $159.6M.

 

Congress repealed the luxury tax in 1993 realizing it was a job killer...Obama has proposed to bring it back.

Originally Posted by JimiHendrix:
So, you think tha the current tax rates are creating jobs? If so, where are the jobs?

 

Did I say "current tax rates are creating jobs"?  No, there's much more to it than that.  But you avoid the question (as usual).  We've had the same tax rates since '03, the unemployment shot up in '09.

 

So what are examples of the "same job-killing tax rates" actually killing jobs?  In other words, how exactly does having the 28% bracket lowered to 25%, the 31% bracket lowered to 28%,the 36% bracket lowered to 33% , and the 39.6% bracket lowered to 35%...lowering capital gains tax, lowering the gift and estate tax...become “job-killing"?

 

And if in fact your are right, how do you defend Obama and the democrats who extended those "same jo-killing tax rates"?

 

Jimi-

 

Since you don't seem to understand this, let's lay it out.  Tax rates, or any economic policy for that matte,r can have one of three effects on unemployment:

 

1)  they can increase unemployment

2)  they can decrease unemployment

3)  they can be unemployment neutral

 

You said the current tax rates are increasing unemployment when you called them "job killing."  When pressed for an example, you demanded proof that the current tax rates are decreasing unemployment.  You see, these are two different things.  Therefore, the burden of proof is on the person who makes the "job killing" accusation to prove their claim.  I

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