Daily Archives: 23 January 2015

Taxes

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Treasury Secretary Jacob Lew had a thought.

I don’t think that there’s any advantage in pretending that there aren’t big disagreements on the individual tax side. We had a national debate just two years ago about the top rate. We’re not looking at the kind of negotiation to go back to lower the top rate.

Never mind that after that debate and just a few months ago, Americans voted overwhelmingly to reject President Barack Obama’s tax policy—which he’d placed on the ballot along with every single one of his other policies (every single one of which were similarly rejected in that same election).

This Progressive, along with Obama, Knows Better and recognizes no obligation to listen to his employers.

It’s going to be a long two years with President No and his Party of Naysayers still in the way of economic reform and long term economic recovery and prosperity.

Even the AP Is Catching On

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They fact-checked President Barack Obama’s State of the Union speech, and they found these things.

OBAMA: At this moment—with a growing economy, shrinking deficits, bustling industry and booming energy production—we have risen from recession freer to write our own future than any other nation on Earth.

THE FACTS: Job growth has been…fueled in part by lower-paying jobs…which have replaced many higher-paying positions…. Part-time jobs also remain elevated: there are still 1.7 million fewer workers with full-time jobs than when the recession began in December 2007.

[F]aster hiring hasn’t pushed up wages much. They have been growing at a tepid pace of about 2% a year since the recession ended 5 1/2 years ago. That’s barely ahead of inflation and below the annual pace of about 3.5% to 4% that is typical of a fully healthy economy.

And

OBAMA: I am sending this Congress a bold new plan to lower the cost of community college—to zero.

THE FACTS: Zero for qualifying students; an estimated $60 billion over 10 years to the treasury.

And

OBAMA: Thanks to a growing economy, the recovery is touching more and more lives. Wages are finally starting to rise again. We know that more small-business owners plan to raise their employees’ pay than at any time since 2007.

THE FACTS: A survey of small businesses by the National Federation of Independent Business does show that a rising proportion plans to raise wages. But plans to raise pay aren’t the same as actually raising them.

Average hourly earnings rose just 1.7% in December from 12 months earlier, according to the Labor Department. That’s about half the rate that is typical of a healthy economy….

And on.