The LuLac Edition #2284, December 3rd, 2012
Consumer demand is the ultimate job creator. (Photo from The Telegraph)
WHO ARE THE JOB CREATORS?
For the last twelve years, we’ve heard that businesses big and small are the job creators. Partially true. The country is full of adventurous men and women who struck out on their own and took a chance, poured their heart and soul into an ideas or making a product that people would want to buy. These people are to be commended. But the ultimate job creators are the consumers that buy the products. Consumer demand sometimes spurs on innovation. But consumer demand creates the growth of a business. So with that in mind, I give you a message from the White House regarding the impact of the middle class tax cut on Pennsylvania. Worthwhile reading.
The Middle-Class Tax Cuts’ Impact on Consumer Spending and Retailers:
Impact For Pennsylvania
President Obama is committed to growing our economy from the middle out by ensuring a strong, secure, and thriving middle-class. Now we face a deadline that requires action on jobs, taxes and deficits by the end of the year. While the President is committed to working with Congress to reduce our deficit in a balanced and responsible way, there is no reason to hold the middle-class families in Pennsylvania hostage while we debate tax cuts for the highest income earners.
Pennsylvania Can’t Afford Tax Increases On Middle-Class Families…
A median-income Pennsylvania family of four (earning $80,400) could see its income taxes rise by $2,200. 98 percent of Pennsylvania families who make less than $250,000 a year and would not see an income tax increase under the President’s plan. …Because Middle-class Families Drive Pennsylvania’s Economy… The bulk of economic activity comes from American families buying basic necessities like clothing and healthcare; durable goods like cars and furniture; and the food and gifts that millions will enjoy over the holiday season.
The retail industry employs 14.8 million Americans – including 637,400 in Pennsylvania – and has been a key part of the recovery.In the 40 months since the recession ended in June 2009, the retail industry alone has been responsible for more than 9 percent of overall employment growth and has added 438,000 jobs in the past 32 months.
Over the course of this year, American consumers are on pace to spend around $5 trillion on retail sales. And with the start of the holiday shopping season, which accounts for close to one fifth of industry sales nationwide,retailers can’t afford the threat of tax increases on middle-class families.
Which Is Why Raising Taxes On The Middle-class Will Hurt Pennsylvania’s Economy Pennsylvania’s economy can’t afford that right now. New analysis by the President’s Council of Economic Advisers (CEA) finds that:
This sharp rise in middle-class taxes and the resulting decline in consumption could slow the growth of real GDP by 1.6 percentage points in Pennsylvania.
Faced with these tax hikes, the CEA estimates that consumers in Pennsylvania could spend nearly $8.6 billion less than they otherwise would have in 2013 just because of higher taxes. Consumers nationwide would likely spend nearly $200 billion less than they otherwise would have in 2013.
posted by David Yonki @ 9:03 PM
8 comments
8 Comments:
As a preemptive strike since he hasnt posted yet today, I disagree with the professor!
Respectfully,
A Longtime Lulacer
Good morning Students,
From the looks of most of you, the weekend hangovers have not yet subsided. Or, perhaps you are trying that age old experiment of ‘the hair of the dog’. Trust me, it does not work. A colleague of mine from the glorious fifties, Professor Duffy, used to attempt the same thing. Needless to say, may he rest in peace. Still, please, if you must gamble on sporting events, make certain that you have the cash to back up your inevitable losses!!!!
The business of this classroom goes forward……
Students,
I experienced a most joyful weekend in sunny FLA. Courtesy of the OMNI resort, several colleagues and myself enjoyed a few good holes of golf, good food, and conversation. We discussed and indeed laughed at the false impression that the Democrats possess that they are now the party of the future. One friend, a physician commented that back in 2008 the “Jackass party made the same prediction and then the sleeping Elephant that was the GOP came back with a vengeance to control the House in two short years.”
IT was then that another friend, a banking executive came off with a very funny one liner: “It’s better to be a sleeping elephant than a jackass kicking himself in the groin!!!” I swear, I nearly fell out of my seat in jocularity risking a very expensive dish of filet mignon falling all over me!!! To make a long story short, we concluded not only massive GOP gains in the House in the 2014 mid-terms, but also a Senate takeover with a very comfortable margin. All in all, it was a wonderful trip and I always enjoy getting together with people of my own intelligence. It most certainly serves as a “recharging of the batteries of life”. Especially after having to deal with you slugs all week long.
I would now like to address that dreaded subject of the “War on Christmas.”
For too long, and in a very stealth manner, the liberal elites who by the way, do NOT believe in God, have been attempting to morph the sacred holiday of Christmas into a secular event. For those of you who are uninformed (and in this classroom, that is most of you slackers), Christmas marks the birth of our Lord and Savior, Jesus of Nazareth. This is the most revered day in the lives of all Christians and a day not to take lightly. Yet, from what I have witnessed both personally and in the media, the name Jesus is rarely if ever mentioned. What a travesty!!!!!!
I tell you here and now, Christmas is NOT about getting toys for the kiddies or expensive electronics for the teens. It is simply about prayer and observance. The joys of the holiday come from the gathering of family and friends amongst good will and cheer. Not about little Timmy whining that Daddy got him the wrong I-phone. Or little Susie crying that her new doll isn’t the “IN” toy that all of the other neighborhood girls got. You get my idea; these demonstrations belay one thing: Selfishness.
Christmas is also a time for charity. Despite you ingrates accusations against me for many years of not having a heart, I make it a point to donate each Christmas to help the needy and downtrodden. For that is how it should be. Please understand that we Conservatives are not against helping those less fortunate: WE JUST DON’T WANT TO USE GOVERNMENT FUNDS TO DO SO. And may it be said, that Jesus Christ never allocated government spending. Jesus Christ never allocated drinking or drug use. Jesus Christ never endorsed Gay Marriage or heterosexuals living in sin or practicing pre-marital sexual conduct. No, he never endorsed any of these things. Simply, because they are wrong.
I do not hate. I do not hate liberals. I do not hate the harlots and drunkards who adorn this classroom. I do not hate gays. I, in fact, pray for you all every night on my knees for divine intervention. I wish all of you to be productive, moral citizens.
Something to think about this morning………
Class Dismissed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Repeat after me:
Government DOES NOT create jobs. Government DOES NOT create wealth.
Government runs on the money it takes from us.
Government DOES create the environment we exist in and we respond to that environment.
Yonk, what bothers me most is that the Boehner Congress insist that we the people take a hit on senior benefits. What bothers me is that these people earn hundreds of thousands of dollars and after paying a little bit more in taxes, they still have buckets of money left over to do with as they wish. But we the seniors, if we give up any part of our retirement benefits, we hurt, we have to do without something that gives us a little comfort. How in the name of all that is fair can they do this? I know there are some who follow the Rush line and they will respond with how we can't afford entitlements but they don't rally against foreign aid or the cost of wars or the cost of the oil depletion allowance, etc. The burden has to fall on us and I think that is simply wrong. I'm a senior and I can live. I do without vacations, etc but I can live. I do not go without food, I do have a simple social life and share lunch with friends but that's about it. My car does not have its own elevator and my second floor does not have an elevator either. Yet, Romney took in $20 million dollars last year and paid 13.9% in taxes. If I sold the little stock I have, I would pay the same rate and I have to ask if that fair? It is time that all middle class and lower middle class stood together and drop the Rush Limbaugh line of thinking. I'm a veteran while Romney and his 5 sons never spent a day defending their millions or my chump change. We the people need to stick together and we need to be firm as a group.
One last question, why is that phony professor still here? Funny how he hasn't said a word about his predicted blow out for Romney hasn't deserved a word in his own defense of being so very, very wrong.nr
Longtime Lulacer,
I'm with you!
Lately he has been posting daily and enough is enough.
I am a big fan of Lulac and seldom miss a days reading.
Mr Yonki does a great job and most posts are well thought out and respectful. An occasional blip from the Professor is amusing, but everyday gets old fast.
Jesus didnt endorse golf or arrogance or the GOP either or was Jesus in your foursome? If so how did he play?
I bet he can get a par whenever he wants.
As Kinky Friedman said in song long ago, "They Aint Makin Jews Like Jesus Anymore."
Something to think about this morning...
8:16AM
1) Being a vet does not allow you to suspend reality. It does allow you the benefits you were promised. Hey, how's the VA hospital treating you.
2) No one wants seniors to "take a hit" - except the Democrats who will include YOUR Soc. Sec. benefits in their increased tax package. Any change will affect those 35 and below (last I heard) and may require those kids to wait until they are 67 or 68 to retire. The age is 67 for full benefits now. This info is easily available with a minimum amount of effort and will relieve the anxiety evident in your posting.
3) When you hear these hammerheads talking try and think of how you finance your household and apply what they say to your situation.
4) You can't continue to give away or spend money you don't have and neither can the feds.
5) You can't fix our finances by raising taxes on the rich unless you also believe in unicorns.
Actually, Proffie, Christmas is a pretty pagan holiday. You should look into its roots, specifically, why it's on December 25th, the origin of the Christmas Tree, the significance of holly and mistletoe, etc.
Second, despite your impassioned assurances to the contrary, your last election prediction turned out to be not even remotely accurate, so I'm going to go out on a limb and say that you're wrong about this new prediction. You and Harold Campaign ought to do lunch some time.
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