WH: Why no, today’s jobs report doesn’t change our economic strategy

posted at 1:21 pm on April 5, 2013 by Erika Johnsen

In another clip from CNBC this morning, take a gander at the White House chief economist Alan Krueger affirming that, why no, this morning’s awful jobs report does not mean the White House is going to be reassessing their economic approach. And hey, why should they? Backing off of failed progressive policies for the good of the country is for chumps, duh.

I think if you look at today’s report and other indicators that are coming in, the economy is continuing to heal. What we need to do in Washington is avoid self-inflicted wounds. Most importantly, the sequester, the CBO estimates, will reduce job growth by 750,000 full time/equivalent jobs by the end of the year. So, we’ve done a lot of healing in the economy, the housing sector is finally making a turn and we shouldn’t be putting up headwinds in the way of the recovery that is taking place. … I think this report, and frankly, where we’ve been over the last year, supports the president’s proposal to have a balanced approach, which supports growth in the near term, invests in our infrastructure, invests in manufacturing innovation, invests in pre-school so we’re more competitive in the future, and addresses our long-run deficit problems and the president has show that it’s possible to do that.

I see his lips moving, and yet I hear no meaningful words coming out. Avoid self-inflicted wounds, really? The president’s entire agenda of meddlesome health care, financial, and eco-regulations is one giant self-inflicted wound, but if we want to talk about the sequester, let’s not forget that it could never of happened if the president hadn’t signed off on it and that he distinctly refused to allow for flexibility in the ways the cuts were implemented. And the housing sector making a turn isn’t going to last long if you — ahem — ‘keep going back to the policies that got us here in the first place.’

And of course, “balanced approach” and “addressing our long-run deficit problems” are code for raising taxes so that the federal government can continue to rob the private sector of more capital and instead “invest” it for us on things like “infrastructure” and “pre-school” — which is why President Obama will be including still more tax hikes in his upcoming budget proposal. Perfect.


Related Posts:

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Comment pages: 1 2

The goal of the 0bama regime is the destruction of the economy and the bankrupting of America.

Why change a winning strategy?

Rebar on April 5, 2013 at 1:22 PM

So the $20,000 Obama is kicking back to the Treasury is a pittance that will not be missed. (What’s the difference between $789,674 and $769,674? Will the kids not go to camp? Is Hawaii out of the question for next summer? ) But 5 percent for someone making $100,000 is a different story. That’s five grand, and it well could be camp or a vacation. It is not chump change.

Obama was once poor –- although young and poor is not the same as old and poor –- so I know he can appreciate what that 5 percent can mean. The president was apparently responding to the symbolism of him living like a pasha while asking others to sacrifice. I understand. But his taking a wee haircut on his salary is just a PR stunt from the White House that’s more insulting than it is empathetic.

From Richard Cohen, the otherwise Obama-azzlicker.

Schadenfreude on April 5, 2013 at 1:23 PM

…S U C K S !…

KOOLAID2 on April 5, 2013 at 1:23 PM

Why must Bush ruin the economy?

Gatsu on April 5, 2013 at 1:23 PM

Why would it? True economic equality is right around the corner at long last!

Kensington on April 5, 2013 at 1:23 PM

Yesterday’s Reuters headline “Jobs up, good for economy”.

Today’s Reuters “Weak job gains cast shadow on U.S. economic outlook

May they all suffocate, in Obama’s azz.

Schadenfreude on April 5, 2013 at 1:24 PM

Most importantly, the sequester, the CBO estimates, will reduce job growth by 750,000 full time/equivalent jobs by the end of the year.

Are you referring to the job sequester created by your boss?

Wow, this guy’s going to get fired.

fogw on April 5, 2013 at 1:25 PM

I’m just waiting for vodka supplies and sales to start spiking.

In Utopia … happiness is intoxication.

The Soviet Union has become America’s bright, shining light on a hill.

OhEssYouCowboys on April 5, 2013 at 1:26 PM

“Why no, today’s jobs report doesn’t change our economic strategy”

To destroy the U.S. Economy (break it) and then (fix it) transform it into a Chinese State controlled capitalism/socialist Ruling class led nation.

Either evil, or dumber than dumb!!

PappyD61 on April 5, 2013 at 1:27 PM

The Obama Campaign will stay on course as long as he keeps getting the results he is looking for while being able to blame somebody else.

forest on April 5, 2013 at 1:27 PM

WH: Why no, today’s jobs report doesn’t change our economic strategy

Of course it won’t, their economic strategy is the Cloward-Pivens Strategy, and it is working exactly as planned.

SWalker on April 5, 2013 at 1:28 PM

“balanced approach” and “addressing our long-run deficit problems” are code for raising taxes so that the federal government can continue to rob the private sector of more capital and instead “invest” it for us on things like “infrastructure” and “pre-school” — which is why President Obama will be including still more tax hikes in his upcoming budget proposal. Perfect.

Perfect isn’t quite the word I would use.

Happy Nomad on April 5, 2013 at 1:28 PM

Odd mix, Kathy Boudin, William Ayers, B. Obama types comingled with the Federal Reserve Officals who vote Full RINO for John McCain etal.

The Commie Democrats over tax over spend and the Federal Reserve over prints the money supply.

Not hard to figure out who and what the targets are is it?

Got your mirror up and working, keep yourselves in mind.

APACHEWHOKNOWS on April 5, 2013 at 1:29 PM

WH: Why no, today’s jobs report doesn’t change our economic strategy

‘This is not the definition of insanity. We promise.’

- The White House

Resist We Much on April 5, 2013 at 1:29 PM

focused like a laser beam…..

portlandon on April 5, 2013 at 1:29 PM

To quote another big government politician, “Stay the course”.

MoreLiberty on April 5, 2013 at 1:29 PM

Why stop what we are doing now just because it’s not working? If we change course now, people will think we were wrong to do what we were doing in the first place. We can’t have people thinking we were wrong. Better to have the entire country slip into poverty then to have people think we don’t know what we are doing.

Lily on April 5, 2013 at 1:30 PM

“It’s always blackest before the dawn, wackobirds!

- The White House

Resist We Much on April 5, 2013 at 1:30 PM

WH: Why no, today’s jobs report doesn’t change our economic strategy

Uh, that’s because their economic strategy is working – exactly as planned. High unemployment, high numbers of people who have left the work force permanently, exploding numbers of people on disability, record high food stamp and welfare recipients … MORE FREELOADERS = more democrat voters. The plan is working out fine – why change?

Pork-Chop on April 5, 2013 at 1:31 PM

FWIW, Boehner rejects bho’s tax increase? We will see if he caves?

http://www.foxnews.com/politics/2013/04/05/obama-proposing-change-to-social-security-in-exchange-for-taxes-drawing-liberal/
L

letget on April 5, 2013 at 1:32 PM

Why should it change things, when the strategy is to destroy. Everything is going according to plan.

rrpjr on April 5, 2013 at 1:33 PM

Oh this is rich. Here, look at this quote taken to stand alone:

I think this report… …supports the president’s proposal to have a balanced approach.

Seriously, WTF is that ?! How did the interviewer not stop him right there in his tracks and say WHAT?!

How does this report support anything other than a clear statement that the job situation in this country is completely SCREWED ?

500,000 people gave up looking for a job completely.

deadrody on April 5, 2013 at 1:33 PM

WH: Why no, today’s jobs report doesn’t change our economic strategy

Say kids, do you know what time is it?

Kids: It’s Howdy Doody Time Pivot To Jobs Time!

Bearing in mind that this is dated 4 August 2011

Awesomely Awesome News! Awesomely Awesome Obama Plans An Awesomely Awesome “Pivot” To Awesomely Awesome Jobs For The Awesomely Awesome 15th Time!

Resist We Much on April 5, 2013 at 1:35 PM

Backing off of failed progressive policies for the good of the country is for chumps, duh.

Don’t worry, the foundation of Bush era spending and tax policies remain in place. This country is stuck with absurdly low capital gains taxes and far too many low income Americans paying no income tax whatsoever. Not even the great capitalists approve of the corporate tax structure, yet nothing is coming of that either.

It would be far better to return to Clinton spending and tax regimes, but that isn’t going to happen.

MORE FREELOADERS = more democrat voters. The plan is working out fine – why change?

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

White House Chief Economist Alan Krueger.

His brother Freddy..would have been a better economist.

Seriously, it’s like no one in the entire Obama administration has any business acumen whatsoever.

HumpBot Salvation on April 5, 2013 at 1:36 PM

The plan is working out fine – why change?

Pork-Chop on April 5, 2013 at 1:31 PM

That’s the thing. Our mistake is believing that the Dems are “concerned” about these numbers. Even after they have Democrat hegemony there will still be some cranky Republicans around to blame for various woes. And the electorate will eat it up.

One Party Rule!

happytobehere on April 5, 2013 at 1:36 PM

Yesterday’s Reuters headline “Jobs up, good for economy”.

Today’s Reuters “Weak job gains cast shadow on U.S. economic outlook”

May they all suffocate, in Obama’s azz.

Schadenfreude on April 5, 2013 at 1:24

Suffocate, why, no, you are so wrong, this kind of creatures that brought about the destruction of this once great country thrive in the kind of dark, moist environment/habitat you just described as 0′s azz…it’s where they came to life…

jimver on April 5, 2013 at 1:38 PM

Awesomely Awesome News! Awesomely Awesome Obama Plans An Awesomely Awesome “Pivot” To Awesomely Awesome Jobs For The Awesomely Awesome 15th Time!

Resist We Much on April 5, 2013 at 1:35 PM

If we put a magnet in Obama’s hands, and put him inside a coil of copper wire, Obama’s pivoting would generate enough electricity to light up half of America.

SWalker on April 5, 2013 at 1:38 PM

Why no, that iceberg doesn’t change our itinerary.

–White Star Line Captain of the Titanic

HumpBot Salvation on April 5, 2013 at 1:38 PM

WH: Why no, today’s jobs report doesn’t change our economic strategy

Why would they? Everything is proceeding according to plan.

HotAirian on April 5, 2013 at 1:39 PM

When theory and reality don’t match, it’s reality that needs fixing.

Socratease on April 5, 2013 at 1:40 PM

I think if you look at today’s report and other indicators that are coming in, the economy is continuing to heal

Only if “heal” means the gangrene is continuing to fester.

rbj on April 5, 2013 at 1:40 PM

Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

Wouldn’t change anything you putrid imbecile, the Marxist Democrat would just spend that money somewhere else resulting in a net gain of ZERO.

SWalker on April 5, 2013 at 1:41 PM

Obama’s America

Schadenfreude on April 5, 2013 at 1:43 PM

What ever you do…

… don’t blame the ideology.

Seven Percent Solution on April 5, 2013 at 1:44 PM

Must not question The Reich. The Fuehrer knows best….

viking01 on April 5, 2013 at 1:44 PM

WH doubles down on stupid?

In a sense, yes. But it’s more like doubling down on ideology. Obama doesn’t care enough about jobs and the economy to let it interfere with his fundamental socialist transformation.

petefrt on April 5, 2013 at 1:44 PM

Oh this is rich. Here, look at this quote taken to stand alone:

I think this report… …supports the president’s proposal to have a balanced approach.

Seriously, WTF is that ?! How did the interviewer not stop him right there in his tracks and say WHAT?!

How does this report support anything other than a clear statement that the job situation in this country is completely SCREWED ?

500,000 people gave up looking for a job completely.

deadrody on April 5, 2013 at 1:33 PM

They stopped looking for work because they know Big Brother Barack has their back.

With a knife to the kidneys.

And at this point, what difference does it make?

Lily on April 5, 2013 at 1:44 PM

Backing off of failed progressive policies for the good of the country is for chumps, duh.

Don’t worry, the foundation of Bush era spending and tax policies remain in place. This country is stuck with absurdly low capital gains taxes and far too many low income Americans paying no income tax whatsoever. Not even the great capitalists approve of the corporate tax structure, yet nothing is coming of that either.

It would be far better to return to Clinton spending and tax regimes, but that isn’t going to happen.

MORE FREELOADERS = more democrat voters. The plan is working out fine – why change?

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

Capital gains taxes are low in this country???? You are the biggest imbecile ever to set foot on a public forum, how about you cut yourself loose and put yourself out of your mental misery…you need a shrink, public forums aren’t the answers to your mental problems…am sure obamacare has a provision there, some sort of free, life-time assistance for your kind that does not even require institutionalization. Use it while is still there!!

jimver on April 5, 2013 at 1:45 PM

bayam is dumber than most all trolls.

Schadenfreude on April 5, 2013 at 1:47 PM

The President is too busy to pay attention to facts and circumstances. Besides, ideology matters more. In fact, its all that matters.

Well, almost all.

Fore!

MTF on April 5, 2013 at 1:48 PM

Open Letter to anybody that voted not once but twice for Obama who now realizes he is not “sort of God” but an unprepared angry incompetent redistributionist who cares for nothing except getting his community organized:

GFY. you voted for him, you pay the freight. We are Gunny Hartman, Obama is private Pyle sneaking Jelly donuts into his foot locker and Obamabots are Cowboy, Joker Snowball and the rest of the platoon of boots on Parris Island: He eats while you pay.

“From now on, I will not punish HIM. I will punish all of YOU”

Insincerely yours,

the 58 million who voted against Obama in 2008
the 60 million who voted against Obama in 2012

Sacramento on April 5, 2013 at 1:48 PM

bayam supports this.

Obama does too.

There are death panels in America now.

Schadenfreude on April 5, 2013 at 1:48 PM

bayam on April 5, 2013 at 1:36 PM

Hey dumazz, you want to hit the seniors first? The ones who actually contributed something? But oh yeah, let’s give free “preschool” (day care) to the obamabots so they have more free time to talk on their obamaphones. GFY

BeachBum on April 5, 2013 at 1:48 PM

Obama and Co. could gut over-regulation, slash the corporate tax rate, etc. and the economy would explode. There is tons of capital just sitting on the sidelines.

How many businesses are not being created? Just as important, how many are choosing not to expand, but instead “hunkering down?” How many are expanding elsewhere?

The founder of Subway restaurants is slamming the government for harsh regulations he says hurt small businesses, saying he would not have been able to successfully start his company in today’s climate.

Fred Deluca told CNBC Wednesday that he believes government regulations are preventing entrepreneurs from creating value in the economy, saying the environment for U.S. entrepreneurs is getting continuously worse.

“If I started Subway today, Subway would not exist,” Deluca told CNBC.

Deluca named a number of government regulations, including a possible increase in the minimum wage, the end of the payroll tax holiday and the the Affordable Care Act or ObamaCare.

Deluca said ObamaCare is “the biggest concern of our franchisees.”

“They don’t know what to expect,” he told CNBC. “It’s causing a lot of concern, but that too will be passed on to the consumer.”

The Progressive ideology will fail over time. It defies human nature and is based in a rejection of basic economic principles. Lower and middle-income families hardest hit.

visions on April 5, 2013 at 1:49 PM

They stopped looking for work because they know Big Brother Barack has their back.

With a knife to the kidneys.

And at this point, what difference does it make?

Lily on April 5, 2013 at 1:44 PM

They’ve given up hope. That’s the pinnacle of Socialism. When the People no longer care, when they’ve been beaten into submission – they’ve finally become clay to be molded by the State.

OhEssYouCowboys on April 5, 2013 at 1:49 PM

MTF on April 5, 2013 at 1:48 PM

Most make the mistake of using the wrong premise with Obama.

His plans of destruction proceed, apace. He’s beyond his targets.

Schadenfreude on April 5, 2013 at 1:49 PM

headwinds…..those Damn HEADWINDS!!

ToddPA on April 5, 2013 at 1:50 PM

BeachBum on April 5, 2013 at 1:48 PM

The AARP idiots voted for Obama/bayam, go figure.

Schadenfreude on April 5, 2013 at 1:50 PM

Y’all know better than to pick up a cat turd and play with it.

OhEssYouCowboys on April 5, 2013 at 1:51 PM

Come on, Obama knows the solution and you conservatives are standing in the way of makeing 20 million new citizens out of the illegal Mexican liberal voteing border jumpers.

Just lay back and enjoy the final solution William Ayers wrote his book about, the new age gas you can not even smell it when they pump it into your home.

APACHEWHOKNOWS on April 5, 2013 at 1:52 PM

May ab
mayab
may be a ab
bayambonggonebongersbyebye

APACHEWHOKNOWS on April 5, 2013 at 1:56 PM

The AARP idiots voted for Obama/bayam, go figure.
Schadenfreude on April 5, 2013 at 1:50 PM

I’m a senior and I sure as heck Never voted for this POS. I tried to sound the alarm but my idiot older sister thinks it’s all great. She’s so lo info that she voted for Carter..twice!!! Although she’s so apathetic now that she didn’t vote this time, like that helped..not.

BeachBum on April 5, 2013 at 1:56 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

I’m happy to end both programmes TODAY.

Now, if you are not going to give those that are currently eligible to receive SS & Medicare, for which they contributed, are you, at least, going to stop deducting payroll taxes from those that are working today? After all, why should people pay for something for 4 decades or more, if they are not going to get it in the future?

Or…do you think the government should make people pay both payroll and income taxes on the same wages/income even though one is supposed to be designated for trust funds and the other goes into the general fund?

I bet you love all of that money going to the government. Can you imagine what the deficit would be without it? I mean, like, ONLY $840.7 billion was paid in payroll taxes during FY2012.

Resist We Much on April 5, 2013 at 1:57 PM

Why should Barry change his policies? Everything is working out just the way he wants.

Grab ‘em by their wallets, their heats and VOTES will follow.

GarandFan on April 5, 2013 at 1:57 PM

Looters and moochers re-elected Obama.

Why would they change?

Schadenfreude on April 5, 2013 at 1:59 PM

Ya, thats the ticket, let the Mexicans who voted in the commie do nothing goverments for the last 100 years in Mexico vote more know nothing commie Democrats into our know nothing goverment.

problem solved

That way we can PEMEX our ass’s broke on our ass too.

APACHEWHOKNOWS on April 5, 2013 at 1:59 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

I’m happy to end both programmes TODAY.

Now, if you are not going to give those that are currently eligible to receive SS & Medicare, for which they contributed, are you, at least, going to stop deducting payroll taxes from those that are working today? After all, why should people pay for something for 4 decades or more, if they are not going to get it in the future?

Resist We Much on April 5, 2013 at 1:57 PM

Bayam???? the floor is yours :) but first you have to pick yourself up off it :)

jimver on April 5, 2013 at 2:01 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

Is this Rick Perry’s HotGas account?

happytobehere on April 5, 2013 at 2:01 PM

Just more Goverment and its all ok.

Simple it is.

We are all goverment now.

APACHEWHOKNOWS on April 5, 2013 at 2:03 PM

Until the American people wake up, they can continue to get away with this. But looking at my Facebook page populated by libs and younger people, no one cares. All they care about is gay marriage and whoever was voted off The Bachelor.

Jack_Burton on April 5, 2013 at 2:04 PM

We are all goverment now.

APACHEWHOKNOWS on April 5, 2013 at 2:03 PM

It’s “the only thing we do together.”

happytobehere on April 5, 2013 at 2:05 PM

Flaten U.S. all out run U.S. through the Federal Reserve Money Machine, we are all goverment $1.00 bills now.

APACHEWHOKNOWS on April 5, 2013 at 2:05 PM

Bayam???? the floor is yours :) but first you have to pick yourself up off it :)

jimver on April 5, 2013 at 2:01 PM

His next step will be to talk about how Bill Gates supports higher tax rates! So predictable, so stupid, and so much like a broken record.

ShadowsPawn on April 5, 2013 at 2:07 PM

Is this Rick Perry’s HotGas account?

happytobehere on April 5, 2013 at 2:01 PM

I think it’s Emeril Lagasse’s..BBBBBaaayyyyyyAAAAAAAMMMMMMMM.

HumpBot Salvation on April 5, 2013 at 2:07 PM

LBJ
Jimmy Carter
Bill Clinton
B. Obama

Graph that.

APACHEWHOKNOWS on April 5, 2013 at 2:09 PM

Bayam???? the floor is yours :) but first you have to pick yourself up off it :)

jimver on April 5, 2013 at 2:01 PM

His next step will be to talk about how Bill Gates supports higher tax rates! So predictable, so stupid, and so much like a broken record.

ShadowsPawn on April 5, 2013 at 2:07 PM

You mean the same Bill Gates that is now into the condom upgrading business instead of the Windows upgrading one :)

jimver on April 5, 2013 at 2:12 PM

Rahming speed!

Steve Eggleston on April 5, 2013 at 2:13 PM

Resist We Much on April 5, 2013 at 1:57 PM

Bayam???? the floor is yours :) but first you have to pick yourself up off it :)

jimver on April 5, 2013 at 2:01 PM

Well, he can’t pick himself up off the floor until he crawls out of the crater RWM body slammed him into.

SWalker on April 5, 2013 at 2:14 PM

WH: Why no, today’s jobs report doesn’t
change our economic strategy

That is because to destroy the United States economy and put as many citizens as possible on the government teat IS THE STRATEGY of this administration. All is “progressing” as per the plan for these collectivist weasels.

djtnt on April 5, 2013 at 2:17 PM

This country is stuck with absurdly low capital gains taxes

CG: Capital Gains
CGT: Capital Gains Tax(es)
CGR: Capital Gains Rate

1. Argentina: No specific CGT.

2. Australia: 22.5% and 52 events that are exempt.

3. Barbados: No CGT.

4. Belgium: CGs realised by a Belgian resident company on shares in a Belgian or foreign company are fully-exempt from corporate income tax; provided, that the dividends on the shares qualify for the participation exemption. Other CGs are taxed at the ordinary rate.

5. Belize: No CGT.

6. Brasil: CGR is 15% and only paid on realised gains.

7. Bulgaria: The corporate tax rate is 10% and the personal tax rate is flat at 10%. There is no CGT on equity instruments traded on regulated markets within the European Union.

8. Canada: CGR is 10%.

9. Cayman Islands: No CGT.

10. China: Tax-resident enterprises will be taxed at 20% in accordance with the Enterprise Income Tax Law. Non-resident enterprises will be taxed at 10% on CGs, in accordance with the Implementing Regulations to the Enterprise Income Tax Law.

11. Czech Republic: CGs are taxed as incomes for companies and individuals and subject to the flat 15% individual income tax or the 19% corporate tax. CGs from the sale of shares by a company owning 10% or more is entitled to participation exemption under certain terms. For an individual, gain from sale of a main private dwelling, held for at least 2 years, is tax exempt. Or, when not used as a main residence, if held for more than 5 years.

12. Denmark: Dividends and realised CGs are charged at 28% to individuals of gains up to DKK 48,300 and at 42% of gains above that. Individuals’ interest income from bank deposits and bonds, realised gains on property and other CGs are taxed up to 59%; however, several exemptions occur, such as on selling one’s principal private residence or on gains on selling bonds. Companies are taxed at 25%. Share dividends are taxed at 28%.

13. Ecuador: No CGT.

14. Egypt: No CGT.

15. Estonia: There is no separate CGT. All earned income from CGs is taxed the same as regular income, the rate of which currently stands at 21%.

16. Finland: The CGR is 30% on realised capital income and 32%, if the realised capital income is over 50,000 euros; however, CGs from the sale of residential homes is tax-free after two years of residence, with certain limitations.

17. France: The CGR on the sale of financial instruments is a flat 32.3%, which includes 12.3% for social security taxes; IOW, the CGR is 20%. If shares are held in a special account (called a PEA), the gain is subject only to social security taxes; provided, that the PEA is held for at least five years. The maximum amount that can be deposited in the PEA is €132,000. The gain realised on the sale of a principal residence is not taxable.

18. Germany: The German CGR is 25% for individuals. CGT only applies to financial instruments that have been bought after 31 December 2008. Real estate continues to be exempt from CGT, if it has been held for more than ten years. For corporations, the CGR is 15%, but 95% of the CG from the sale of shares in a foreign subsidiary or German company is exempt when received by a company taxable in Germany. The corporate tax rate is 15%.

19. Hong Kong: No CGT.

20: Hungary: Since 1 January 2011 there is one flat tax rate (16%) on capital income. This includes: selling stocks, bonds, mutual funds shares and also interests from bank deposits. Since January 2010, Hungarian citizens can open special “long-term” accounts. The tax rate on CGs from securities held in such an account is 10% after a 3 year holding period, and 0% after the account’s maximum 5 years period is expired.

21. Iceland: Capital gains rate is 20%.

22. India: The tax rate on short-term CG from equities (held for less than one year) is 15%. Equities held for more than one year are considered long-term and are not taxed when sold if sold through a recognised stock exchange and a Securities Transaction Tax is paid. Currently in India, the STT is between 0.017% and 0.125% of the total amount received on the sale of securities.

23. Iran: No CGT.

24. Ireland: There is a 25% tax on CGs, with several exclusions and deductions (e.g. agricultural land, primary residence, transfers between spouses). The tax rate is 23% on certain investment policies. Gains made where the asset was originally purchased before 2003 attract indexation relief.

25. Isle of Man: No CGT.

26. Israel: CGT is a flat rate of 25%. The taxed gains are inflation adjusted.

27. Italy: Corporate CGR is 27.5%. Individual CGR is 20%.

28. Jamaica: No CGT.

29. Japan: 10% flat tax on CGs.

30. Kenya: No CGT.

31. Latvia: CGs are taxed at a 15%. Dividends are taxed at a 10% rate.

32. Lithuania: CGT from the disposal of securities and from sale of real estate is 15%. Gains from sale of real estate are exempt if the property is owned for more than 3 years before sale.

33. Malaysia: No CGT.

34. Mexico: No CGT.

35. Moldova: The CGR is 50% of the income tax rate. For individuals, the income tax rate is 18%; thus, individuals pay 9% on CGs. Currently, the CGR is 0% — it was cut in 2008 to attract foreign investment — thus, corporations pay NO CGTs. It is expected that corporations will pay a flat 10% on income and CGs beginning in 2013.

36. Netherlands: No CGT.

37. New Zealand: No CGT.

38. Norway: The individual CGR is 28%. In most cases, there is no CGT on profits from sale of your principal home.

39. The Philippines: There is a 6% CGR and a 1.5% Documentary Stamps on the disposal of real estate.

40. Poland: CGR is a flat 19%.

41. Portugal: All CGs on stock above €500 are taxed at 20%. Investment funds, banks and corporations are exempted from paying CGTs. There is a CGT on sale of home and property. Any CG arising is taxable as income. For residents, this is on a sliding scale from 12-40%; however, the taxable gain is reduced by 50%.

42. Russia: There is no separate tax on CGs; rather, gains or gross receipt from sale of assets are absorbed into income tax base. If owned for more than 3 years, individuals pay no CGs. If owned for less than 3 years, residents pay 13% on CGs and non-residents pay 30%. Resident corporations do not pay CGTs. Such income is taxed as ordinary business profits at the common rate of 20% with deductions. Small businesses pay taxes on gross receipts at 6% or 15%. Dividends are taxed at 9% for residents and 15% for non-residents.

43: Singapore: No CGT.

44. South Africa: For legal persons, 50% of their net profit will attract CGT and 25% for natural persons. This portion of the net gain will be taxed at their marginal tax rate. As an effective tax rate this means a maximum effective rate of 10% is payable and for corporate taxpayers a maximum of 15%. For example, for natural persons the maximum marginal tax rate is 40%. Assuming the aggregate CG for the year of assessment is R50 000, 25% of R50 000 is R12 500, which is taxed at 40%, therefore R5 000 is payable. The R5 000 as a percentage of the original profit made is 10%.

45. South Korea: Individuals holding less than 3% of a listed company pay a 0.3% trade tax on sales of shares. Exchange-traded funds are exempt from trade taxes. For shareholders owning more than 3% of listed companies and for sales of shares of unlisted companies, the CGR is 11% for tax residents when the shares involved have to do with small- and medium-sized companies. Rates of 22% and 33% apply in certain other situations. If you have been a resident for less than 5 years, you are exempt from CGTs on foreign assets.

46. Spain: The CGRs are staggered. The first €6,000 is taxed at 21%. From €6,001 to €24,000, the tax is 25%. Gains above €24,000 are taxed at 27%. Companies do not pay CGT. CGs are taxed as regular income, which means it is taxed between 25% and 30% depending upon the size of the company.

47. Sri Lanka: No CGT.

48. Sweden: 30% on realised capital income.

49. Switzerland: No CGT. Corporate CGs are taxed as ordinary income.

50. Thailand: No CGT.

51. Turkey: No CGT.

52. United Kingdom: CGR is 18%. For people paying more than the basic rate of income tax, this increases to 28%. There are exceptions such as for principal private residences, holdings in ISAs or gilts. Certain other gains are allowed to be rolled over upon re-investment. Investments in some start-up enterprises are also exempt from CGT. Entrepreneurs’ Relief allows a lower rate of CGT (10%) to be paid by people who have been involved for a year with a company and have a 5% or more shareholding. Every individual has an annual CGs tax allowance: gains below the allowance are exempt from tax, and capital losses can be set against CGs in other holdings before taxation. All individuals are exempt from tax up to a specified amount of CGs per year. For the 2011/12 tax year this “annual exemption” is £10,600.

Capital Gains Tax Rates Around The World

Bray, bray, bray-am-ing at the moon!

Resist We Much on April 5, 2013 at 2:20 PM

Looters and moochers re-elected Obama.

Why would they change?

Schadenfreude on April 5, 2013 at 1:59 PM

The funny thing about downturns, the looters and moochers are hit hardest. They will not think so kindly about the rat-eared devil once the EBT doesn’t replenish their welfare payments, they can no longer text on their Obamaphone, and otherwise find themselves unwillingly going cold turkey on their public dole addiction.

Happy Nomad on April 5, 2013 at 2:21 PM

If we put a magnet in Obama’s hands, and put him inside a coil of copper wire, Obama’s pivoting would generate enough electricity to light up half of America.

SWalker on April 5, 2013 at 1:38 PM

Ain’t dat da troof?

Resist We Much on April 5, 2013 at 2:22 PM

“It’s always blackest before the dawn, wackobirds!

- The White House

Resist We Much on April 5, 2013 at 1:30 PM

“It’s always darkest just before it goes totally black”

- Hannibal Smith

Steve Eggleston on April 5, 2013 at 2:25 PM

Obama was once poor –- although young and poor is not the same as old and poor –-

Schadenfreude on April 5, 2013 at 1:23 PM

O’bama Kneepad Cohen cites this as Fact, because he knows his Low-IQ Democrat “readers” will believe what he tells them. But is it really Settled Science that O’bama was once “poor”?

After all, his mother’s parents were both well-off, and they raised young Dear Leader from the age of 10.

May have to go to the WaPo link to amuse myself with some of the comments.

Del Dolemonte on April 5, 2013 at 2:25 PM

Well, he can’t pick himself up off the floor until he crawls out of the crater RWM body slammed him into.

SWalker on April 5, 2013 at 2:14 PM

Oh, he will…he will appear fresher than ever on a new thread, as if this one (and his particular comment) never existed, blabbering some urelated crapola about Bill of condom upgrade fame and the defunct Jobs…That’s bayam for ya, as irrelevant as ever..

jimver on April 5, 2013 at 2:26 PM

What strategy? They’ve been sitting there in DC watching the same numbers we have, only where we’re saying this is unacceptable, they’re acting like it’s no big deal. Feckless rumps.

scalleywag on April 5, 2013 at 2:26 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

“This country”? You’re a f’n Canadian.

slickwillie2001 on April 5, 2013 at 2:27 PM

There are death panels in America now.

Schadenfreude on April 5, 2013 at 1:48 PM

I heard something on local talk radio today that is even worse. A physician called in about the WaPo story yesterday that sequestration was causing cancer patients to be denied treatment (an outright lie though don’t expect the “fact checker” to call the rat-eared bastard on it).

Anyway, she was talking about Medicare reimbursement rates. Seems that part of the savings being touted by the administration comes from stuff like mandating that physicians do a less effective and more painful procedure because it is cheaper. Currently, the only time this procedure is used if the one that is the norm would cause an adverse reaction in the patient. So, in essence, one Obamacare kicks in we can expect third-world medical treatment in order to save money so that all those illegals can get their government payed sex change operations or something.

But remember, if you like your doctor you can keep your doctor. Right?

Happy Nomad on April 5, 2013 at 2:29 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

In 11 different U.S. states today, the number of people on welfare exceeds the number of people with jobs: California, New York, Illinois, Ohio, Maine, Kentucky, South Carolina, Mississippi, Alabama, New Mexico and Hawaii.

Gee, Sparky, there seems to be an overwhelming number of Blue states in that list. Care to try again?

Del Dolemonte on April 5, 2013 at 2:29 PM

“It’s always darkest just before it goes totally black”

- Hannibal Smith

Steve Eggleston on April 5, 2013 at 2:25 PM

Damn it! I swear, that was the quote that I meant to write. I screwed it up.

Idjit. Idjit. Idjit.

Resist We Much on April 5, 2013 at 2:32 PM

The biggest freeloaders in this country are Tea Party members blowing out the deficit with their social security checks and Medicare support. Cut them lose and our deficit problems are over.

bayam on April 5, 2013 at 1:36 PM

Is this Rick Perry’s HotGas account?

happytobehere on April 5, 2013 at 2:01 PM

No, bayam is in reality Paul Krugman.

BTW I read an economic analysis the other day written by an economist who won the same “Nobel Prize” in Economics that Krugs did. Sorry, can’t remember his name.

He said Paulie has absolutely no idea what he is babbling about.

Del Dolemonte on April 5, 2013 at 2:33 PM

Damn it! I swear, that was the quote that I meant to write. I screwed it up.

Idjit. Idjit. Idjit.

Resist We Much on April 5, 2013 at 2:32 PM

I grew up on “The A-Team”, so don’t sweat it.

Steve Eggleston on April 5, 2013 at 2:35 PM

The Soviet Union has become America’s bright, shining light on a hill.

OhEssYouCowboys on April 5, 2013 at 1:26 PM

Uh, the Soviet Union doesn’t exist anymore.

Bevan on April 5, 2013 at 2:39 PM

From Richard Cohen, the otherwise Obama-azzlicker.

Schadenfreude on April 5, 2013 at 1:23 PM

From the WaPo Comments about the Cohen article:

Good grief, Cohen. Would you rather he didn’t take the pay cut?!? If this is the worst thing Obama has done (giving himself a paycut), then I’d say he’s pretty awesome.

I actually like Obama and think he’s the best person for the job of president right now.

What is insulting is Richard Cohen pretending to have morals.

As an unabashed cheerleader for George W. Bush’s presidency, Cohen eagerly supported the invasion of Iraq and publicly supported the Bush administration in their desire for a war.

“It Burns!”

Del Dolemonte on April 5, 2013 at 2:40 PM

“It’s always darkest just before it goes totally black”

– Hannibal Smith

Steve Eggleston on April 5, 2013 at 2:25 PM

In tornado alley we say “it’s always darkest just before a big f’n storm kills you.”

slickwillie2001 on April 5, 2013 at 2:49 PM

Capital gains taxation only distorts the economy and restrains growth. It encourages investments to be held beyond their useful term to avoid or delay taxes, which keeps capital from its most efficient use.

Of course, leftists don’t understand economics, other than the economics of robbery.

Adjoran on April 5, 2013 at 2:50 PM

Flaten U.S. all out run U.S. through the Federal Reserve Money Machine, we are all goverment $1.00 bills now.

APACHEWHOKNOWS on April 5, 2013 at 2:05 PM

Greenbacks is people.

Lily on April 5, 2013 at 2:55 PM

In tornado alley we say “it’s always darkest just before a big f’n storm kills you.”

slickwillie2001 on April 5, 2013 at 2:49 PM

When you hear that sound, you know, the sound of a high-speed rail train to nowhere, you know it’s too late to take cover.

Lily on April 5, 2013 at 2:58 PM

What ye sow so shal ye reep.

The commie Democrats have stated a inside the commie dole fight and it will heat up and burn them bad sooner or later.

Black on Brown in one of the few almost Democrat counties in Texas.

Tarrant County, Arlington Ft. Worth area.

http://www.star-telegram.com/2013/04/03/4748462/fort-worth-activist-calls-arlington.html

Star Telegram big democrt news wipe,
Kyev Tatum (Texas Southern Christian Leadership Conference)

Tony Pompa (LULAC and Latin Chamber of Commerce)

Go at it.

The Democrat party leaderships lust for the brown vote has trumped their lust for the black vote, this is how sick the sob’s are.

APACHEWHOKNOWS on April 5, 2013 at 3:00 PM

Until the believers on the left are hit between the eyes with a downturn, Ocare, higher taxes, unemployment, higher gas and grocery bills, or not being approved for a loan, will they begin to understand what we have been screaming at them for over 4 years. Socialism does not work, never has, never will and those who keep trying to implement it are crazy.

Kissmygrits on April 5, 2013 at 3:04 PM

The goal of the 0bama regime is the destruction of the economy and the bankrupting of America.

Why change a winning strategy?

Rebar on April 5, 2013 at 1:22 PM

They may actually believe what they’re doing is economically sound. Remember these are academicians who never really worked in the private sector.

Everything to them is a

concept

.

Wouldn’t deliberate destruction look a bit different?

dogsoldier on April 5, 2013 at 3:07 PM

Immigration bill to import 1 million a year.

Schadenfreude on April 5, 2013 at 3:16 PM

Economic strategy is,

Keep us dependant on Saudi oil.
Induce a hyperinflation (destroy) of the US dollar.

esblowfeld on April 5, 2013 at 3:26 PM

Five years of one mind-numbingly stupid policy after another, and all we have to show for it is trillions more dollars in debt and yet another massive and massively inefficient entitlement program that we can’t even begin to afford. We have record numbers of people out of work, record numbers of people on food stamps, record numbers of people collecting disability, and record deficits.

The federal government is so completely out of control that it is going to destroy the entire country unless enough of the states band together and put a stop to this insanity.

AZCoyote on April 5, 2013 at 3:28 PM

Uh, the Soviet Union doesn’t exist anymore.

Bevan on April 5, 2013 at 2:39 PM

Uh, you dumbass, that’s like saying that the Aryan Nation doesn’t aspire to create another Nazi Reich.

The fact that it no longer exists, is irrelevant to those who desire to create the same kind of Utopia.

Run along, Boy.

OhEssYouCowboys on April 5, 2013 at 3:30 PM

What strategy? What has he done that would put people back to work? Other than Fed actions, which probably don’t involve much input from 1600 Pennsylvania Ave, what economic policy has this administartion followed since enacting ther “stimulus” plan?

hawksruleva on April 5, 2013 at 3:43 PM

Can’t change something you don’t have.

OxyCon on April 5, 2013 at 3:44 PM

In tornado alley we say “it’s always darkest just before a big f’n storm kills you.”

slickwillie2001 on April 5, 2013 at 2:49 PM

I thought that saying was “It’s always green just before a big f’n storm kills you.”

Steve Eggleston on April 5, 2013 at 4:05 PM

In tornado alley we say “it’s always darkest just before a big f’n storm kills you.”

slickwillie2001 on April 5, 2013 at 2:49 PM

I thought that saying was “It’s always green just before a big f’n storm kills you.”

Steve Eggleston on April 5, 2013 at 4:05 PM

Hell, in Oklahoma, if they’re an F-3 or below, we keep ‘em as pets.
Or, sometimes, we just open up the front door and let ‘em out the back.

OhEssYouCowboys on April 5, 2013 at 4:12 PM

Comment pages: 1 2