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If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent. That’s a 75 percent increase. In real dollars, that would mean if you currently owe $1,000 in taxes, next year you would owe $1,750.
Monthly unemployment rates aren't set in stone
In early February, the BLS will release once-a-year revisions in its count of monthly job creation. Those revisions will be based on more complete information from employers, such as unemployment insurance tax records.
The economy added a net total of 1.1 million jobs in 2010. That total will likely turn out to be lower - by 366,000, according to a preliminary calculation the government made in the fall. The actual number will be released next month with the employment report for January. - Full Text
December 2010. Drum roll please.......
The just released report shows 130,710,000 jobs.
Let's do the math. 130,710,000 - 134,580,000 = -3,870,000. The president expected to create or save 3.5 million jobs. Instead he lost 3.87 million jobs. That is a whopping deficit of 7.37 million jobs.
Now Janet Yellen thinks the Fed is going to create 3 million jobs by the end of this year. Let's do that math, too. 3 million divided by 12 is 250,000 jobs a month. Does anyone believe that?
Should we add that total to the current deficit of 7.37 million jobs? If by some miracle we do create 250,000 jobs a month does the Fed get credit for them, President Obama, or the man in the moon?
Originally posted by Rockpuck
reply to post by marg6043
Then take 7million jobs LOST and add those jobs never created (approx 1.2m a year, via immigrant and college grads, hell, that actually mostly only covers main corporations and professional jobs and has no bearing on self employed, smaller companies etc) then add that by the number of years in the depression (4) and you get almost 11m jobs needed to be "normal".
Bernake says, get used to it.. there is a new underclass in town, and it's not meant to go anywhere soon.
China has launched trading in its currency in the U.S. for the first time, an explicit endorsement by Beijing of the fast-growing market in the yuan and a significant step in the country's plan to foster global trading in its currency.
Wait when small businesses and self employed take the hit of Obama care and been forced to provide insurance for employees.
REUTERS: 1099 tax rule may bring big pain to small business
The new rules on 1099 forms, which were attached to the health care bill and are set to go into effect in 2012, call for all businesses, no matter how small, to file 1099 forms for goods as well as for services. That sounds like a technicality, but it’s got small business up in arms.
The new rule requires all business to file 1099 forms for goods as well as services, if those goods cost over $600 annually...
It will affect all businesses, including sole proprietors, consultants, self-employed people and freelancers, who are considered businesses for tax purposes, but may not think of themselves that way. It also will apply to charities and other tax-exempt organizations. The National Taxpayer Advocate, based on Internal Revenue Service data, figures that it will affect 26 million sole proprietorships, 4 million S corporations, 2 million C corporations, 3 million partnerships, 2 million farms, 1 million charities and other tax-exempt organizations, and likely more than 100,000 federal, state and local government entities. All told, that’s more than 38 million taxpayers and taxpaying entities....