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Thread: shocking statistics on 'job growth' ...

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    Default shocking statistics on 'job growth' ...

    (snip)"
    Employment on Pluto Rises

    The June Employment Report is in. Once again, I think it is from another planet.

    Nonfarm payroll employment increased by 132,000 in June, and the unemployment rate was unchanged at 4.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment rose in several service-providing industries, while manufacturing employment continued to decline. Average hourly earnings rose by 6 cents, or 0.3 percent, over the month.

    The number of unemployed persons (6.9 million) was essentially unchanged in June, and the unemployment rate held at 4.5 percent. The jobless rate has ranged from 4.4 to 4.6 percent since September 2006.

    Details

    * Health care was once again a bright spot with employment growing by 30,000.
    * Employment in social assistance was up by 13,000 over the month. Social assistance has added 84,000 jobs in the last 12 months. Those jobs are mostly low paying jobs.
    * Food services and drinking places added 35,000 jobs in June. Again, those are low paying jobs.
    * Manufacturing employment continued to trend down in June -18,000. Those tend to be better paying jobs.
    * Government jobs rose a shocking 40,000. Over the year, state and local governments together added 347,000 jobs, while federal employment was about unchanged.

    Wow. 40,000 new government jobs were created in June alone, with 347,000 over the course of the year (and all at the state and local level). A mere 92,000 private sector jobs were created in June. This is a strong economy?

    But stop and think about this for a second. Think about falling property values and stagnating property taxes as a result. Think states are going to be able to stay on this insane hiring binge? I don't, certainly not without raising taxes. If anything, I expect to see reductions in services especially in places like Florida where property taxes were just slashed.

    The next question is whether or not we really created 92,000 private sector jobs. I doubt it. The overall number seems plausible until you look at how we got there. Closer inspection shows this is the fourth consecutive jobs report that appears like it was written about Pluto or Mars."(snip)

    from ... scroll down

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    Default Re: shocking statistics on 'job growth' ...

    Yeah, I don't believe a word coming out of this evil Bush regime.

    The job stats, inflation stats, unemployment numbers, GDP growth, and even the number of dead and wounded in Iraq, are all made up by this deceitful Bush junta.

    Ron Paul in 2008.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by James Bond View Post
    Ron Paul in 2008.
    The Ron Paul bandwagon is picking up steam!! I like him, he seems very sensible.

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    Default Re: shocking statistics on 'job growth' ...

    ron paul is the awesomest little old ladyparts-doctor evar.

    as for what mel posted, liberal (women) like undocumented workers as much as conservatives (both male and female)-- they like the cachet of social service jobs (lots of rich guys find that type of work charming in potential wives; also, rich daughters can afford to take small paychecks for such work in the first place), and the chance to make bank as nonprofit executives, unlike the conservative love of cheap, pliant, replaceable labor pools.

    so it doesn't surprise me that job growth is primarily in government work in social services or in pure service-industry work, which of course is quite illusory 'growth'. social workers hustling government programs to 'help' their friends' servants is not really the kind of america i'd like to raise my kids in.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ the operative word in your very apt commentary is 'rich' ... because for the most part only private sector manufacturing jobs and upper level gov't jobs provide enough income to survive on independently. The social assistance and restaurant/bar related service jobs definitely fall in the low income category.

    Also, only the private sector manufacturing jobs and private sector restaurant/bar related service jobs provide additional net tax revenue. Both the upper level gov't jobs and the lower paying social assistance jobs have as the origin of those paychecks the tax revenues collected from private sector workers. Given the US tax code's tiered tax brackets, earned income tax credit etc. the low paying restaurant/bar service workers pay very little towards 'general revenue' income taxes. it is only the private sector manufacturing jobs that actually provide(d) a significant stream of tax revenue from which the public sector upper level gov't jobs and lower paying social assistance jobs funding originates. Upper level gov't employees do pay out a significant percentage of their paychecks in income taxes, but since their paychecks are derived from someone else's private sector income taxes in the first place this is merely 'recycling' of tax dollars not a source of new tax revenue.

    The author's implied point of course is that with the continuing loss of private sector manufacturing jobs, and with the continued growth of gov't jobs, at some point or another the tax burden which must be placed upon remaining 'middle class' private sector workers in order to fund an increasing percentage of gov't employee paychecks is going to 'break the camel's back'.

    From independent sources, an arguable statistic emerges that 20% or 1 in 5 persons now working in the USA are drawing paychecks that are funded via tax revenues collected from the remaining 4 in 5 or 80%. Again given the realities of the US tax code, two of the remaining four private sector workers collectively paying the salaries of the gov't employees have incomes that are so low as to not actually provide significant amounts of 'general revenue' income taxes. The inescapable conclusion is that 2 out of 5 or 40% of Americans who are still working in the private sector and still earning substantial paychecks are now funding the paychecks of 1 out of 5 or 20% of other Americans drawing gov't paychecks. This equation spells economic doom !!!

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Richard_Head View Post
    The Ron Paul bandwagon is picking up steam!! I like him, he seems very sensible.
    I like him too! Ron Paul is the first one from that side of the political spectrum that I can actually respect since I have become old enough to vote some 10 plus years ago.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    This equation spells economic doom !!!
    everything seems to spell doom with you, LOL! I do think the job growth numbers are misleading though. But I'm with James on what is behind it. Things will settle down and improve once the Bush people are out of office.

    The last several years are just the USA's time of disgrace, mostly because of them. But most great nations have a very dark period in their history due to bad leaders and leadership. George Bush, Jr. is that leader for the USA. When he and his group are gone it will get better. All is not lost. The USA will be a great nation once again.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ I'm grateful for your 'sunday sermon'. Unfortunately, it sheds very little factual assurance as to how exactly a country with fewer and fewer well paid private sector employees as a source of tax revenue will be able to continue to pay the salaries of more and more public sector employees ! Oh yes I almost forgot ... in anticipation of a 2008 victory the Democrats in congress have already passed a $400 billion + income tax increase on the middle class, are proposing a new fuel tax that will raise the price of gasoline to $6 per gallon over the next 8 years, will be proposing a new carbon tax this week etc. I guess you are 'rich' enough to be able to avoid these tax increases ?

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    Default Re: shocking statistics on 'job growth' ...

    ^ more doom and gloom. Bleh! Don't you ever get tired of being sooooooo negative about life? Have you ever heard the theory about creating your own destiny? Maybe life sucks so bad in your eyes because you focus on negative ALL the time.

    Ofcourse I deal with taxes, high energy costs and all the other things you complain about. But while I am dealing with it I make a point to find positive things to do to help the situation get better. I don't just sit around never leaving my house and complaining online every single fucking day about what is wrong with life like you do. I conserve where I can. I vote and take part in political action groups. I help out at my local community service centers. I do what I can about the issues and then I ENJOY the rest of my time.

    Seriously, get out and take a walk in the sunshine. Go see something on Broadway. Maybe watch some kids or dogs play in Central Park for a change.

    Life has it's positive side too. Try remembering that once and awhile and then maybe your own situation won't seem so awful.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ actually my own situation is not bad at all. If you're not aware already, I have been able to retire from dancing by saving up a rather substantial nest egg of investments which I actively manage with reasonable success. I live in the Adirondacks ... I garden intensively ... I spend a good deal of effort helping out the 'younger' members of my extended family (I came from a family as one of 6 children, and they all have kids and now some grandkids as well).

    My concern is not for myself, but for those grandchildren ... who will wind up having to live with the consequences of the policy decisions and financial chicanery which are taking place right now. I do not want to see those grandchildren robbed of an opportunity for a better life because their parents will become so heavily taxed that it is no longer possible to send them to college. I do not want to see those grandchildren robbed of a better life because US dollar inflation and real estate deflation has converted their parents' net worth into pocket change. I do not want to see those grandchildren robbed of a better life because a future permanent underclass imbues all of future American society with crime / drugs / fear on top of world economy poverty levels. Most of all, I do not want to see those grandchildren enduring the eventual 'solution' to making the USA great again - i.e. World War 3 ! This is the reason that I try to bring attention to what's REALLY going on in the USA, in the vain hope that enough people will recognize the risky path this country is turning toward.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    This is the reason that I try to bring attention to what's REALLY going on in the USA, in the vain hope that enough people will recognize the risky path this country is turning toward.
    Don't you mean the path that we are already on and have been on for the past several years????

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    ^^^ actually my own situation is not bad at all. If you're not aware already, I have been able to retire from dancing by saving up a rather substantial nest egg of investments which I actively manage with reasonable success. I live in the Adirondacks ... I garden intensively ... I spend a good deal of effort helping out the 'younger' members of my extended family (I came from a family as one of 6 children, and they all have kids and now some grandkids as well).

    My concern is not for myself, but for those grandchildren ... who will wind up having to live with the consequences of the policy decisions and financial chicanery which are taking place right now. I do not want to see those grandchildren robbed of an opportunity for a better life because their parents will become so heavily taxed that it is no longer possible to send them to college. I do not want to see those grandchildren robbed of a better life because US dollar inflation and real estate deflation has converted their parents' net worth into pocket change. I do not want to see those grandchildren robbed of a better life because a future permanent underclass imbues all of future American society with crime / drugs / fear on top of world economy poverty levels. Most of all, I do not want to see those grandchildren enduring the eventual 'solution' to making the USA great again - i.e. World War 3 ! This is the reason that I try to bring attention to what's REALLY going on in the USA, in the vain hope that enough people will recognize the risky path this country is turning toward.
    Well you sure act like your life is bloody awful and with no hope of anything better so I don't know if I buy into much of what you wrote above. But whatever I'm not going to argue with you about it. If you want to be miserable all the f'ing time that's your choice.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ certainly many 'bad' turns have happened over the past 15 years. However, some even worse turns are recent developments i.e. derivatives, tax policies, hostile mergers & acquisitions etc.



    ~
    Last edited by Melonie; 07-08-2007 at 06:29 PM.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    ^^^ certainly many 'bad' turns have happened over the past 15 years. However, some even worse turns are recent developments i.e. derivatives, tax policies, hostile mergers & acquisitions etc.

    http://www.ft.com/cms/s/8890d07a-2d7...b5df10621.html

    ~
    Oh, you mean the last seven years correct???

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ in the interest of equal time, some of the negative changes have occurred since last November 7th i.e. the 400+ billion dollar income tax increase.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    ^^^ in the interest of equal time, some of the negative changes have occurred since last November 7th i.e. the 400+ billion dollar income tax increase.
    I'm thinking that's more fear mongering by the right than reality.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ well you're thinking incorrectly ! Failure of the current congress to extend AMT relief, failure to extend the 15% cap gains tax, and failure to extend income tax bracket reductions amounts to a huge tax increase no matter how you cut it. Granted that the timing of these tax increases is such that most American voters won't see much of a tax increase before the 2008 election, but nonetheless those tax increases will arrive in accordance with current law.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    ^^^ well you're thinking incorrectly ! Failure of the current congress to extend AMT relief, failure to extend the 15% cap gains tax, and failure to extend income tax bracket reductions amounts to a huge tax increase no matter how you cut it. Granted that the timing of these tax increases is such that most American voters won't see much of a tax increase before the 2008 election, but nonetheless those tax increases will arrive in accordance with current law.

    http://www.nationalreview.com/nrof_c...0411050748.asp
    That link is from 2004 . Try this one .

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    Default Re: shocking statistics on 'job growth' ...

    yes, but my link showed the actual laws already in effect which, in the absence of further action by the current congress (of which there has been none so far) will result in major tax increases in 2009, 2010 and 2011. Your link on the other hand is merely a proposal floated by a handful of current legislators, which is not the law and which has little chance of becoming law with a GWB veto waiting in the wings re any new tax increase bill.

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    Default Re: shocking statistics on 'job growth' ...

    Quote Originally Posted by Melonie View Post
    Your link on the other hand is merely a proposal floated by a handful of current legislators, which is not the law and which has little chance of becoming law with a GWB veto waiting in the wings re any new tax increase bill.
    Then GWB and the GOP would have that tax increase on their hands wouldn't they?? I don't think they want to go there.

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    Default Re: shocking statistics on 'job growth' ...

    ^^^ which is why the 'surtax' on 'rich Americans' who earn more than $500k a year that is being suggested at your link is not going to become law ... at least not until after the 2008 presidential election. However, the increases in Alternative Minimum Tax, capital gains tax, and regular income tax etc. are ALREADY law and will happen like clockwork unless congress votes to change existing law.

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