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(The National Memo)   Mitt promises 12 million new jobs, eliminate the deficit, & lower taxes. Wall Street investor does the math: "At a 25 percent Federal tax rate on all the new income, the average new job would have to pay a mere $433,333 per year to fill the gap"   (nationalmemo.com) divider line 387
    More: Hero, Mitt Romney, deficits, tax rates  
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4049 clicks; posted to Politics » on 04 Oct 2012 at 6:01 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-04 09:09:34 PM  

tinyarena: And, at the highest levels, it's all been thoroughly planned, and scripted for maximum attention.


At the highest levels?

Do you mean the lizard people? Or the Illuminati?

Because if you do I have to say you're a kook and I can't take you seriously.

Everyone knows it's the reverse vampires.
 
2012-10-04 09:12:14 PM  

cabbyman: Jim_Tressel's_O-Face: cabbyman: Removing deductions raises revenue.

Your deductions. Bite the pillow, Mitt's coming in dry.

At least with Mitt we get a reach around.

Obama never even had the common courtesy to give us that!


He'll give you a reacharound so you'll pay him twice for the ass rape.
 
2012-10-04 09:13:24 PM  

US1: cabbyman: US1: cabbyman: Obama got schooled!

[i0.kym-cdn.com image 799x444]

schooled? that empty suit was just empty; all romney did was lie; sadly since most white inbreds are stooopid (ie the honey boo boo crowd) mittens might win. since the thing is basically a american idol contest an empty suit could win.

Hey, racist, stop being so racist!

Also, Obama is proof that an empty suit can get elected. The question is have we learned enough not to make the same mistake again.

Just calling a spade a spade

[3.bp.blogspot.com image 400x266]

[www.obamaftw.com image 494x371]

[thinkprogress.org image 485x450]


You shouldn't call anyone a spade.
 
2012-10-04 09:15:21 PM  

US1: cabbyman: US1: cabbyman: Obama got schooled!

[i0.kym-cdn.com image 799x444]

schooled? that empty suit was just empty; all romney did was lie; sadly since most white inbreds are stooopid (ie the honey boo boo crowd) mittens might win. since the thing is basically a american idol contest an empty suit could win.

Hey, racist, stop being so racist!

Also, Obama is proof that an empty suit can get elected. The question is have we learned enough not to make the same mistake again.

Just calling a spade a spade

[3.bp.blogspot.com image 400x266]

[www.obamaftw.com image 494x371]

[thinkprogress.org image 485x450]


Those people seem awfully proud of their racism and ignorance. Makes me glad I didn't get into medicine; I might have been forced to prolong the lives of shiatstains like that.
 
2012-10-04 09:15:41 PM  

MithrandirBooga: Are we sure this math is right? I didn't see where he carried the potatoe


FTFY
 
2012-10-04 09:17:50 PM  
An Obamabot website...no thanks, I can do the math a lot better.
 
d23 [TotalFark]
2012-10-04 09:17:56 PM  
Reminder: Mitt Romney has one platform plank: he's going to do nothing but help himself and his buddies. That's why everything that he says is shiat. That's all he wants. He has to pretend he cares about other things.
 
US1
2012-10-04 09:19:25 PM  

born_yesterday: US1: cabbyman: US1: cabbyman: Obama got schooled!

[i0.kym-cdn.com image 799x444]

schooled? that empty suit was just empty; all romney did was lie; sadly since most white inbreds are stooopid (ie the honey boo boo crowd) mittens might win. since the thing is basically a american idol contest an empty suit could win.

Hey, racist, stop being so racist!

Also, Obama is proof that an empty suit can get elected. The question is have we learned enough not to make the same mistake again.

Just calling a spade a spade

[3.bp.blogspot.com image 400x266]

[www.obamaftw.com image 494x371]

[thinkprogress.org image 485x450]

Those people seem awfully proud of their racism and ignorance. Makes me glad I didn't get into medicine; I might have been forced to prolong the lives of shiatstains like that.


well if you take those people out of the gop, a republican couldnt even get on the city council
 
2012-10-04 09:19:36 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


Well, don't hold us in suspense. Drop some mathematical education on us fools.
 
2012-10-04 09:19:37 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


Will you use Romney Magic Math?
 
2012-10-04 09:19:52 PM  

violentsalvation: *click*

[i798.photobucket.com image 539x359]

*closes tab*



Don't you ever let anyone say you aren't open minded
 
2012-10-04 09:22:46 PM  

Orange-Pippin: ddam: ...
Reagan also had balance budgets and the national deficit was $0 when he left office.


Granted, it was long after he left office but he still gets the wharrgarbl credits.
 
2012-10-04 09:22:46 PM  
It really is stunning how far the "post-truth presidential campaign" has reached. Romney "won" by just straight up lying, over and over. There is no doubt in my mind he knew he was lying. He didn't care. And by lying over an over, he put Obama on the defensive. Truly amazing to watch. Obama seemed reluctant to come right out and say "you are lying".

I realize politicians lie, they stretch the truth, etc. But Romney's ENTIRE DEBATE was about straight up lies.
 
2012-10-04 09:22:53 PM  

GhostFish: tinyarena: And, at the highest levels, it's all been thoroughly planned, and scripted for maximum attention.

At the highest levels?

Do you mean the lizard people? Or the Illuminati?

Because if you do I have to say you're a kook and I can't take you seriously.

Everyone knows it's the reverse vampires.


Works for me!
 
2012-10-04 09:23:10 PM  
Only a farkwit like Romney could win a debate in such a way as to ultimately make it to his detriment. Without his father's fortune this man would be the petty tyrant manager at your local fast food joint.
 
2012-10-04 09:24:00 PM  

Debeo Summa Credo: gremzo: ddam: meat0918: Corvus: nevirus: Yeah, but you did the math without including Romney's super-secret numbers that make it all revenue-neutral and add jobs and bring down the deficit.

Even if you don't do the math. If it's not going to be a tax cut because the deductions are in theory going to balance it out how is it going to help anyone?? We might have a simpler tax code but if what Romney is saying is true (which I think is not true, I think he plans to shift the tax burden to the middle and poor classes he is just using this as the pretext) then it won't save anyone one penny on their taxes.

And another thing.

Didn't Romney say he would lower the rate while closing loopholes, and then claim no one had ever done that before?

Isn't that exactly what Reagan did???

Reagan also had balance budgets and the national deficit was $0 when he left office.


umm... Really? because this chart says otherwise.

What's the source for that chart?


LMAO.
 
2012-10-04 09:24:28 PM  

Hobodeluxe: he had to in order to get the debt ceiling raised. it wasn't like the GOP willing to compromise.


Epic fail. December 2010 was the tax cut. The debt deal was in Summer 2011. He wouldn't have needed to raise the debt ceiling that quickly had they had not cut taxes by hundreds of billions of dollars while simultaneously jacking up spending again. I didn't feel sorry for him when the bill came due - he brought it upon himself.
 
2012-10-04 09:24:41 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


okay, go... oh and show your work...
 
2012-10-04 09:27:14 PM  

aircraftkiller: shiat, I posted entirely in bold. I don't post here anywhere near enough to pull my head out of my ass in regards to the commenting system


Dude, we all do stupid things like that. You should see my epic html failure after five or six scotches. Probably my logic and manners as well.
 
2012-10-04 09:27:34 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


Sure ya can, sport. I bet you'll share your unskewed math with us won't you?

What was that? You're taking your ball and going home? Well, alright then. See you in November! :)
 
2012-10-04 09:28:42 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


Then do it. Here. Now.

Yeah the assumptions the article makes are iffy. But then again, it takes iffy assumptions to make Romney's math come out and even then it is still absurd. This was the point of the article.

Indeed, I would challenge anyone to come up with any way you can eliminate a deficit that is over $4000 a person and do it without raising taxes, cutting defense spending, without cutting entitlements, and not failing to pay interest on the debt.

Sadly eliminating the deficit will involve people having to contributing more or getting less then they would otherwise. Anyone Democrat or Republican who says otherwise is lying, does not know what they are talking about, or believe in magic.

I don't think that Obama has been frank enough on the problem. But Romney has been spreading outright delusions and magical thinking.
 
2012-10-04 09:32:57 PM  

Corvus: way south: Comparing Wall Street math with politician math?
I say we call it a wash, since there's no actual math going on here.

Well Romney's math is Politician-Wall Street math.


Its potato math and it comes from all sides.
As if a wall street guy is going to spend time crunching numbers with no slant of his own.

A real story would have been if they compared Obama and Romney's plans or past performance.
Rather, they bring in a meaningless third party to weigh in for one side.

I could have gone to someones blog for that kind of journalism.

/Oh wait, I think we just did...
 
2012-10-04 09:36:51 PM  

intelligent comment below: violentsalvation: *click*

[i798.photobucket.com image 539x359]

*closes tab*


Don't you ever let anyone say you aren't open minded


Yeah sorry, I try to get my political info, analysis, and news from websites that aren't openly shilling for one of the candidates and launching popups.
 
2012-10-04 09:38:09 PM  
Vote for Duke RoboRomney and ye shall receive a Big Bird in every pot and an elevator for every car or he pledges to devour his magic undergarments.
 
2012-10-04 09:39:57 PM  

mediablitz: Romney's ENTIRE DEBATE was about straight up lies.


Too bad he wasn't debating someone who was willing to call him on those lies, eh? The debate was very much a microcosm of the entire United States political dialogue the last decade or so - loudmouthed, smarmy Red Stater who dominates the conversation by getting louder and louder until the reasonable Lib just sort of trails off and stops responding.
 
2012-10-04 09:43:31 PM  

violentsalvation: Yeah sorry, I try to get my political info, analysis, and news from websites that aren't openly shilling for one of the candidates and launching popups.



So go ahead and prove the math is wrong. We're waiting
 
2012-10-04 09:44:05 PM  

dickfreckle: aircraftkiller: shiat, I posted entirely in bold. I don't post here anywhere near enough to pull my head out of my ass in regards to the commenting system

Dude, we all do stupid things like that. You should see my epic html failure after five or six scotches. Probably my logic and manners as well.


Well, it's nice to know that I'm not a complete farkup then! ;-) Really, it's just odd getting used to posting in HTML. I'm spoiled by forums and their simplified tags
 
2012-10-04 09:44:31 PM  

Shaggy_C: mediablitz: Romney's ENTIRE DEBATE was about straight up lies.

Too bad he wasn't debating someone who was willing to call him on those lies, eh? The debate was very much a microcosm of the entire United States political dialogue the last decade or so - loudmouthed, smarmy Red Stater who dominates the conversation by getting louder and louder until the reasonable Lib just sort of trails off and stops responding.



0bama did call him on his lies, did you even watch?

Is this the best the trolls can do? They were gloating for HOURS after the debate ended, you'd think they would have been energized. Instead they see the world collapsing around them under the weight of Romney's lies, backtracking, and flip flopping embarrassments.
 
2012-10-04 09:44:39 PM  

AdolfOliverPanties: And Barack Obama helped him out quite a bit by not challenging him on any of his bullshiat.


1.bp.blogspot.com

"What can men do in the face of such wreckless bullshiat?"
 
2012-10-04 09:46:05 PM  
Serious question here - why the fark does anyone give two rat turds about the deficit? Real bond yields are negative right now. The government is obligated to pay back something like 97 cents for each dollar it borrows. This situation won't last forever, but as long as it remains the case, we should be borrowing every penny we can without borking the credit market and make some overdue investments in our future.
 
2012-10-04 09:48:50 PM  

BMulligan: why the fark does anyone give two rat turds about the deficit?


Because they're told to. Right now it should be much further down the list of things Very Serious People talk about on the teevee.
 
2012-10-04 09:49:44 PM  

intelligent comment below: violentsalvation: Yeah sorry, I try to get my political info, analysis, and news from websites that aren't openly shilling for one of the candidates and launching popups.


So go ahead and prove the math is wrong. We're waiting


Go ahead and show me where I ever mentioned anything about the math. I'm not waiting, I have better things to do than argue with an idiot.
 
2012-10-04 09:49:53 PM  

Mad_Radhu: AdolfOliverPanties: And Barack Obama helped him out quite a bit by not challenging him on any of his bullshiat.

[1.bp.blogspot.com image 373x248]

"What can men do in the face of such wreckless bullshiat?"


*snort*
 
2012-10-04 09:51:16 PM  
imageshack.us
 
2012-10-04 09:51:29 PM  

BorgiaGinz: And he wasn't even correct; although the earth's orbit is indeed elliptical, we have seasons because the earth wobbles on its axis like a spinning top, a phenomenon also known as axial tilt.


Between me not remembering exactly what he said, and typing in a hurry, I think you got the wrong impression. I also meant to say that the Southern hemisphere has warmer summers and colder winters.

In an elliptical orbit, the object being orbited is not at the center, but at one of the foci. In the degenerate case where the major and minor axis of the ellipse are equal (circle), the center is the only focal point, but this is not the case with earth. In fact, using measure theory one can prove it's impossible for a perfectly circular orbital path to occur in reality.

upload.wikimedia.org

So the illustration shows that the earth is 5 million kilometers closer to the sun in January than it is in July. This is when the earth crosses the major axis of it's elliptical orbit.

Axial tilt is independent from when a planet crosses the elliptical axes.
 
2012-10-04 09:52:13 PM  

Shaggy_C: Hobodeluxe: he had to in order to get the debt ceiling raised. it wasn't like the GOP willing to compromise.

Epic fail. December 2010 was the tax cut. The debt deal was in Summer 2011. He wouldn't have needed to raise the debt ceiling that quickly had they had not cut taxes by hundreds of billions of dollars while simultaneously jacking up spending again. I didn't feel sorry for him when the bill came due - he brought it upon himself.


oh yeah that was the one that they compromised and got the payroll tax cut and unemployment extensions.
 
2012-10-04 09:54:15 PM  

violentsalvation: intelligent comment below: violentsalvation: Yeah sorry, I try to get my political info, analysis, and news from websites that aren't openly shilling for one of the candidates and launching popups.


So go ahead and prove the math is wrong. We're waiting

Go ahead and show me where I ever mentioned anything about the math. I'm not waiting, I have better things to do than argue with an idiot.



So you have no idea the validity of the article you just cry biased. Typical weaseling out of tough questions .
 
2012-10-04 09:54:29 PM  

BMulligan: Serious question here - why the fark does anyone give two rat turds about the deficit? Real bond yields are negative right now. The government is obligated to pay back something like 97 cents for each dollar it borrows. This situation won't last forever, but as long as it remains the case, we should be borrowing every penny we can without borking the credit market and make some overdue investments in our future.


It doesn't matter. No matter how much of this country China and India purchases they can't take it back home. Remember when Japan was going to make us an economic backwater? They couldn't take Rockefeller back to Nippon. The Republican plan is to bankrupt the country. Why else would rational people spend and spend and spend and not back the spending up with taxes or anything? If anyone has a problem with that, we'll annihilate them.
 
2012-10-04 09:58:05 PM  
Okay Mitt fans, lets make it simple.

12 million new jobs. Give a guess to what the average wage of them will be. And make an estimate of how much tax revenue you think it will generate for the federal government. Include direct taxes and any indirect taxes such has corporate income taxes. It might be a drop in the bucket, but feel free to add on the fact that many of them will cease to be on welfare. Do likewise for a reasonable increase in the average wage for people with jobs.

Does it come close to eliminating the revenue shortfall of the federal government?


----------

You might also consider that the Bush tax cuts have never been repealed contrary to Obama's 2008 promise. Obama then added tax cuts of his own. Federal taxes have not yet increased under his watch. Any expiration of the Bush cuts is still in the future. That the Supreme Court ruled the individual mandate a tax is still moot as it has yet to take effect. The temporary payroll tax cut is still in effect though it is likely to expire next year. Thus so far we had since 2001 tax cuts targeted at the well off. Under Obama we had cuts primarily targeted at the middle class and working poor.

So if tax cuts will automatically make things better, how come things are not yet booming. Heck Bush and the GOP promised his tax cuts would do the trick. Obama is guilty likewise. The GOP also promised disaster when Clinton raised taxes and that did not happen. Now clearly taxes can hurt, but the idea that merely getting rid of them will solve our problems is a fantasy.
 
2012-10-04 09:58:28 PM  

Solid Muldoon: Isitoveryet: Solid Muldoon: You want to create a million jobs? Ban foreign cars.

b-b-but stockholders!

They day America began to die was the first time anyone ever said the phrase, "We had an obligation to our shareholders."


Calvin Coolidge: The business of America is business.

/sigh
 
2012-10-04 10:06:26 PM  
3.bp.blogspot.com
 
2012-10-04 10:07:25 PM  

Cuthbert Allgood: bloximages.chicago2.vip.townnews.com


Bascom Hill, I used to have English class up in Bascom Hall, the building in the back there
 
2012-10-04 10:07:40 PM  

TheMysteriousStranger: Okay Mitt fans, lets make it simple.

12 million new jobs. Give a guess to what the average wage of them will be. And make an estimate of how much tax revenue you think it will generate for the federal government. Include direct taxes and any indirect taxes such has corporate income taxes. It might be a drop in the bucket, but feel free to add on the fact that many of them will cease to be on welfare. Do likewise for a reasonable increase in the average wage for people with jobs.

Does it come close to eliminating the revenue shortfall of the federal government?


----------

You might also consider that the Bush tax cuts have never been repealed contrary to Obama's 2008 promise. Obama then added tax cuts of his own. Federal taxes have not yet increased under his watch. Any expiration of the Bush cuts is still in the future. That the Supreme Court ruled the individual mandate a tax is still moot as it has yet to take effect. The temporary payroll tax cut is still in effect though it is likely to expire next year. Thus so far we had since 2001 tax cuts targeted at the well off. Under Obama we had cuts primarily targeted at the middle class and working poor.

So if tax cuts will automatically make things better, how come things are not yet booming. Heck Bush and the GOP promised his tax cuts would do the trick. Obama is guilty likewise. The GOP also promised disaster when Clinton raised taxes and that did not happen. Now clearly taxes can hurt, but the idea that merely getting rid of them will solve our problems is a fantasy.


Maximum part time hours, (to cut down on the whole benefits thing) minimum wage pay = $12k(ish)
 
2012-10-04 10:12:36 PM  
"Is $100,000 middle income?" Stephanopoulos asked.

"No, middle income is $200,000 to $250,000 and less," Romney responded.

The average new job would have to pay a mere $433,333 per year.

/ that's 12 million upper middle income jobs
// see, he's strengthening the middle class
2.bp.blogspot.com
 
2012-10-04 10:20:13 PM  

born_yesterday: LordJiro: colon_pow: Get 12 million off welfare should help

So you're either advocating 'redistributing the wealth' to get 12 million people out of poverty, or you're advocating letting ~12 million people flood homeless shelters, or die in the streets, or filling our already-overcrowded prisons...

What could possibly go wrong? They'll just roll over and die, right?

Why is it that every other known civilization managed to solve the problem of poverty and class stagnation but we can't?


Because the dirty little secret that people have increasingly figured out over the years is that we really aren't that far off from places like China. We pay lip service to liberty and justice, but in the end all we really want is to be the biggest badass on the block. So we pump the military and we pump corporations that keep financing our reelection campaigns, and if it means we don't have enough money for a few basics like ensuring a decent standard of living so that even our less fortunate have the capacity to function, well, they're just wilted leaves to be trimmed from our glorious American tree. Nevermind that with a philosophy like that, pretty soon you end up with nobody capable enough to create and run all that high-tech military hardware--and nobody wealthy enough to buy all the crap our corporations are peddling.

Meanwhile, the civilized world marches on--slowly, but steadily--as we burn out our massive potential in one great blaze of stupid.
 
2012-10-04 10:20:48 PM  

Mrtraveler01: MyRandomName: Mrtraveler01: MyRandomName: I was unaware the only tax revenue available was income tax. Could have sworn increased income increases purchases, increases corporate taxes, etc.

Can you answer this for me:

How much would the economy have to grow in order to make Romney's plan to reduce tax rates and reduce deductions revenue neutral?

Zero. Many analysts have shown what a piece of shiat the tax policy center analysis was. It assumed zero GDP growth, discounted all changes to corporate deductions, ignored bond interest writeoffs which can account for half of their deficit. The report basically was an analysis of their retarded assumptions on what Romney bwver put forth. Will link in a few a 3 step example. The tax report was garbage. The fact they rescinded their original numbers from 86 to 41 billion aafter the aei analysis shows that.



/Do you honestly believe the economy will grow fast enough to make Romney's tax cuts, revenue neutral?


The rate of growth necessary to do that would bring massive inflation.
 
2012-10-04 10:25:59 PM  

unlikely: AdolfOliverPanties: And Barack Obama helped him out quite a bit by not challenging him on any of his bullshiat.



He definately was sleepwalking.
 
I have only seen Obama speak in person once, at a New Years Eve thingee in Iowa during the last campaign and he was inspiring but as people tend to be in campaign years he was indiscript as to what he would actually do.  We live in the age of platitudes.
 
I don't know, Jimmy Carter was my favorite President and the country was going through some seriously depressing shiate at the time. 
 
2012-10-04 10:27:34 PM  

BMulligan: Serious question here - why the fark does anyone give two rat turds about the deficit? Real bond yields are negative right now. The government is obligated to pay back something like 97 cents for each dollar it borrows. This situation won't last forever, but as long as it remains the case, we should be borrowing every penny we can without borking the credit market and make some overdue investments in our future.


Because deficits only matter with a Democrat in the whitehouse.
 
2012-10-04 10:29:31 PM  

Diagonal: Solid Muldoon: Isitoveryet: Solid Muldoon: You want to create a million jobs? Ban foreign cars.

b-b-but stockholders!

They day America began to die was the first time anyone ever said the phrase, "We had an obligation to our shareholders."

Calvin Coolidge: The business of America is business.

/sigh


It might surprise some people from what I wrote above, but I have no problem with having an obligation to the stockholders.

Corporate officials do have an obligation to the stockholders. Duh.

But that is why these things called "laws" and "regulations" were invented. And ignoring that things, they still need to keep customers and employees happy for a business to prosper and that might mean that long-term interest of the stockholders might means some of the short-term interest needs to be sacrificed.

It is also true that a person has an obligation to more than one interest.

A good CEO needs to provide the stockholder a profit, the customers a product at a reasonable cost, keep the employees happy, and obey the laws of the land. Yes these can come into conflict with each other. But that is the problem they get paid to solve.
 
2012-10-04 10:32:47 PM  

shotglasss: An Obamabot website...no thanks, I can do the math a lot better.


Well don't be a threadshiatting little shiat, you shiat.

Show us some farking math.
 
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