MLM Passive Income

Don't you just chuckle when Newt tries to claim credit for balancing the budget during Clinton's presidency? Here's the already worn out claim: "Newt balanced the federal budget, reformed welfare, cut taxes and created 11 million new jobs," LOL! It's a stretch to credit Gingrich alone because there were many forces and people at work in bringing the government to a balanced budget. The primary one: a booming economy. "Collender agreed that the balanced budget was more a result of "a soaring economy, with capital gains taxes coming in, and the tech bubble than it had anything to do with legislation." Steve Ellis, vice president of Taxpayers for Common Sense, said Gingrich is simply doing what politicians do. "He’s just kind of ignoring that there was anybody else in Washington doing anything about the budget, which is kind of in a politician’s DNA," Ellis said. "Another factor Ellis cited is the 1993 tax increase that Clinton pushed through, over Gingrich’s and all other House Republicans’ objections. Tax increases generated more revenue, which led to surpluses." "Gingrich was House speaker in 1998, the first year of the surplus, and he can be given some credit for the 1999 surplus, even though he was out of Congress for most of that fiscal year." "Even so, simply being speaker during the surplus years doesn’t mean that the balanced budget was his doing. He pushed for it, yes. But other factors like Clinton’s 1993 tax increase -- which Gingrich opposed -- were at work, too. And our experts agreed that a booming economy, generating millions more revenue, was the single most important factor, and one that no politician can take credit for." So, isn't this just more dishonesty from Gingrich (which is no surprise when one notes how dishonest he's been in his previous marriages and such)?

Have you read this? ? I want to know what everybody thinks about this article below: What the Wrong Change could Do to Our Jobs and Economy. Improving the economy is a main issue for millions of Americans. History proves that a key driver of economic growth and prosperity is lower tax rates, which allow businesses to hire, buy goods and services, and make major investments in things like new equipment, automobiles and facilities. Senator Obama believes that increasing taxes on American businesses at this point and time is the way to return America to prosperity. It’s true that we need a change, but where our economy is concerned, is Senator Obama’s plan the Right Change? Here’s what the experts say: Stanford University Economist, Michael Boskin: “History teaches us that high taxes and protectionism are not conducive to a thriving economy, the extreme case being the higher taxes and tariffs that deepened the Great Depression. While such a policy mix would be a real change, as philosophers remind us, change is not always progress.” (“Obamanomics is a Recipe for Recession” The Wall Street Journal, July 29, 2008) CNBC’s Larry Kudlow: "First off, you don't raise taxes during a recession. That's a no-brainer." (Larry Kudlow, Op-Ed, "Why Not Blame Obama?" National Review, 4/18/08) James Pethokoukis, U.S. News & World Report: If Obama is correct and the economy ... is 'in a shambles' and 'teetering not just on the edge of recession, but potentially worse,' why would he want to nearly double the capital-gains-tax rate, which is a tax on savings, investment, and, yes, housing? ... [W]hy would he want raise payroll taxes by 6 to 12 percentage points on people making $100,000 or more? And again, Obama said this right after pledging not to raise taxes on people making under $200,000 to $250,000." (James Pethokoukis, "Obama-Clinton Debate In Philadelphia Spawns Weird Economics," U.S. News & World Report's "Capital Commerce" Blog, www.usnews.com, 4/17/08) Grover Norquist, president, Americans for Tax Reform: “Many Democrats in Congress have proposed making all small businesses (including S corporations) pay this 50-plus percent rate. A small business tax rate that high would be the highest marginal rate faced by them in nearly a quarter-century… Since small businesses create a majority of jobs in America, Main Street closing up shop will have a direct impact on the family budget, as well. Plants and equipment will go unused. Despite the misguided opinions of static scorers in Washington, federal tax revenues will likely decline as the economy staggers into a full-on recession.” Michael Barone, U.S. News & World Report: “Herbert Hoover raised taxes on high earners sharply and, ignoring a letter signed by 1,000 economists, signed the Smoot-Hawley tariff in 1930. The results were not pretty. Until now, his example has not commended itself to Democrats. One wonders whether voters will agree that tax increases will stimulate the economy.” (Michael Barone, Op-Ed, “Uncle Sam Pays? Sure, Whatever,” U.S. News & World Report, 4/21/08) Amity Schlaes, Bloomberg News: "When the capital-gains rate is low, America feels like doing business. When the rate is high, the country turns its attention elsewhere. ... If a capital-gains rate increase alone, however, makes it into 2008 law, the U.S. economy will become less competitive compared with other economies at a crucial time. And if you don't mind me saying, that's a spread that can affect a lot of relationships." (Amity Shlaes, Op-Ed, "Wife-Swapping, Taxes And Spreads Are All Related," Bloomberg.com, 8/1/07) The Tax Foundation: “Among 30 industrialized nations, the United States has the second highest corporate tax rate (39.3%) in the world. As other nations gain on the US in the basic ingredients of economic competitiveness, the imbalance in tax rates is becoming a bigger drag on the US economy. (Tax Foundation) source: http://rightchange.com/issue_tax4.php

Do you think low taxes on dividends and capital gains can help growth in the US production and job market? Tax rates on both dividends and capital gains have been cut down to historical lows. The maximum tax rate on both dividends and capital gains is now set at 15%. Policy makers agreed to such a reduction hoping to see a faster economic recovery and further job growth. These policy makers would like to get your expert opinion on this issue Do you think low taxes on dividends and capital gains can help growth in the US production and job market?