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| Name: |
MartiniMan
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| Subject: |
Insanely stupid comment by Obama
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Date:
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7/31/2013 11:32:57 AM
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Folks, I could make this one up even with my fertile imagination. This is prime facie evidence as to why he refuses to allow us to see his grades. He is an abject imbecile. First the quote and then the decimation."If those layoffs had not happened, if public sector employees grew like they did in the past two recessions, the unemployment rate would be 6.5 instead of 7.5. Our economy would be much better off, and the deficit would still be going down because we would be getting more tax revenue (emphasis added)." --Barack Obama |
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And now I will decimate this fool as only the economically illiterate would make such a statement (i.e., left wing nuts, socialists and the govt media....redundant terms I know). To wit, the government borrows $100,000 to pay a new federal employee (which they have to do - see deficit for proof). That employee then pays, say 40% of that back to the government in the form of taxes. That leaves the deficit having increased by $60,000 ($100,000 in cost for the new employee minus $40,000 in new tax revenue). Even if you want to try to multiply the effect of the remaining $60,000 on the economy and the attendant tax revenues that will create, it cannot ever add up to $60,000 as the tax rate is not 100%....yet anyway. Therefore the deficit is increased by adding federal employees as it is mathematically impossible not to do so in times of deficit spending.
Reminder, government creates nothing. All that government has is either taken from the productive at the point of a gun or is created out of whole cloth by printing money (or in this modern world by buying bonds with nothing to back it up as the Fed is doing to prop up the stock market).
The reason public sector job growth occurred in prior recoveries is because they were actually recoveries led by the private sector which increased revenue to state and local governments that actually rely on revenue and not endless printing of money to fund their operations. That we have no real recovery today is directly a result of the assault on the private sector that Obama's administration and Democrats in congress have been engaging in since January 2009 (really 2006 when Dems controlled the House and Senate). FDR made the same mistake and apparently Obama was high on crack and skipped both his history classes as well as economics and remedial math.......OK, I take that back on the history class....he may have been paying attention to the leftist professor teaching him the tripe they call history.
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| Name: |
MAJ USA RET
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| Subject: |
Insanely stupid comment by Obama
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Date:
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7/31/2013 12:29:17 PM
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STOP! You may be WRONG!
Say
the general multiplier for a government employee is 1.67 (approx). The employee’s take home would be $59880
($100K / 1.67). The employee pays… say 22% of that in taxes = $13,173. But, after he files his taxes…after
deductions… he really ends up paying 18% = $10,778. The government recovers $11K on a $100K
investment.
All
math is fuzzy… especially when the government engages in such.
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| Name: |
MartiniMan
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| Subject: |
GM investment math
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Date:
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7/31/2013 1:38:14 PM
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First of all I was trying to be as simplistic as possible for our economically and mathematically challenged left wing posters who seem remarkably quiet these days.....I suppose waiting for that rare bit of faux positive economic news. These are the same people that think the govt bailout of GM was actually a good investment despite the loss of billions, not to mention Solyndra, et al.
OK, I have to admit I don't understand the multiplier effect in your math. I thought the idea of the multiplier is that for every dollar you pay a federal employee it somehow magically creates $1.67 in increased GDP......that would be Nancy Pelosi math. But either way, I think it is obvious that Obama is either profoundly stupid to have made such a comment or he is an intentional liar. In this case I prefer the former explanation but could easily be convinced of the latter because he is a congenital liar as well as a moronic narcissist......the deadliest combination known to exist.
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| Name: |
MAJ USA RET
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| Subject: |
GM investment math
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Date:
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7/31/2013 2:13:06 PM
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...'s okay... just reinforcing your point.
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