Sun Jan 19, 2014, 06:19 PM
backwoodsbob (6,001 posts)
ever wonder why the repukes quit talking about the deficit and unemplayment?here's why
And if we look at the deficit in terms of GDP, we find that the 2013 deficit was just 3.6% of 2012 GDP. As of now, 2013 GDP numbers, though more impressive than the 2012 reading, aren't yet out. But the fact is that the deficit, in relative terms, is just one-third the size of the deficit in 2009. And it's nearly half the size of the deficit in calendar year 2012.
Also notable are higher taxes. Before 2013, dividends and capital gains were taxed at just 15%. Now, high-income earners may pay as much as 23.8%. This has an incredible effect on government revenue, as high-income earners who earn the majority of their income from investments paid tax rates that were nearly 40% higher than they paid the year prior. Suffice it to say that there are many unhappy hedge fund and private equity managers who are now paying 23.8% on their earnings, instead of a low 15% capital gains tax rate.
8 replies, 1904 views
ever wonder why the repukes quit talking about the deficit and unemplayment?here's why (Original post)
Response to abelenkpe (Reply #3)
Sun Jan 19, 2014, 08:53 PM
TexasBushwhacker (3,603 posts)
6. Because they like to think that those things are big parts of the deficit
In fact, they are not. SNAP benefits and unemployment go right back into the economy. They either don't understand economics or they understand economics and choose to blame our deficit on things that the 1% and the military industrial behemoth will approve of. Fortunately, the proof is in the pudding. Taxes on the wealthy have gone up and so has employment, while the deficit has gone down. They like to scream that the financial sky is falling by quoting the national debt in terms of trillions of dollars instead how the deficit is going down in relation to the GDP.
Response to backwoodsbob (Original post)
Sun Jan 19, 2014, 08:32 PM
JDPriestly (50,071 posts)
4. This is great news. Wonder what the Republicans plan to campaign on this year.
There really isn't much to reproach Obama about from the point of view of the Right-wing. He pretty much has satisfied all their desires.
Response to JDPriestly (Reply #4)
Sun Jan 19, 2014, 09:15 PM
tclambert (7,585 posts)
7. They will still campaign on the deficit, and unemployment, and the "disaster" of Obamacare.
They don't care if those things actually exist or if the problems have lessened (without their help). Hell, they may even make up something, like a unicorn shortage, and blame Obama for it. Whether or not their complaints contain any truth or not has never much concerned them.
Response to TransitJohn (Reply #5)
Sun Jan 19, 2014, 09:22 PM
davidthegnome (2,546 posts)
8. A good question to be asking...
I'm not sure I'd say they've given up... but the lack of dedication lately... is disappointing, to say the least.