Unemployment Fell in 43 States in November

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unemployment fell in 43 states in novemberWASHINGTON (AP) - Unemployment rates fell in 43 states in November, reflecting a modest pickup in the nation's job market.

The Labor Department says only three states reported increases in their unemployment rates in November. Four states showed no change.

Nationally, the unemployment rate dropped in November to 8.6%, the lowest since March 2009. Employers added a net total of 120,000 jobs.

Nevada again had the highest state unemployment rate: 13%. It was followed by California at 11.3%. North Dakota again enjoyed the lowest unemployment rate: 3.4%.

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chris1011

I am self-employed, so I know one thing that the general public seems not to know: that businesses are taxed only on their profits, not on their total incomes.

That's why the Republicans' lie about "high taxes" hindering the recovery goes down so easily. Most Americans are someone else's employee and assume, without really thinking about it, that businesses are taxed in the same way as individuals, namely, on their entire incomes minus a few small deductions.

If that were the case, then it would be fair to say that high taxes hinder businesses. In reality, businesses are taxed on their income minus all legitimate business expenses. No profit, no income tax. Businesses can reduce their taxes by hiring people, expanding or upgrading their facilities, training their employees, buying supplies, and any number of other things, all of which create jobs for someone else.

Every person I have told about this (with the exception of a friend who is a CPA) has been surprised. Every person either never knew this or had once known it and forgotten it.

If the Democrats had any sense at all (and I'm beginning to lose hope), they would publicize the following facts:
1) Corporate taxes are at a historic low,
2) The costs of hiring are subtracted from taxable income,
3) Anybody who tells you that corporations would simply raise their prices to cover taxes is lying, since raising their prices without any concurrent increase in expenses would raise their taxes even further,
4) The only people who benefit from low corporate taxes are the shareholders and executives; most of the other stakeholders lose.

December 21 2011 at 2:54 PM Report abuse -1 rate up rate down Reply
1 reply to chris1011's comment
chris1011

In a corporate world full of spoiled brats and whiners waiting for their very special tax break before they get off their asses, people who just do it because there is joy in doing it, stand above the dim witted unimaginative fools dressed for sucess..

December 21 2011 at 2:54 PM Report abuse -1 rate up rate down Reply
chris1011

"What do our opponents mean when they apply to us the label "Liberal?" If by "Liberal" they mean, as they want people to believe, someone who is soft in his policies abroad, who is against local government­, and who is unconcerne­d with the taxpayer's dollar, then the record of this party and its members demonstrat­e that we are not that kind of "Liberal."

But if by a "Liberal" they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people -- their health, their housing, their schools, their jobs, their civil rights, and their civil liberties -- someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a "Liberal," then I'm proud to say I'm a "Liberal."

J.F.K.

December 21 2011 at 2:50 PM Report abuse -1 rate up rate down Reply
chris1011

More Conservati­ve Convention­al Wisdom Debunked:
“The size of the federal govt. is out of control!!!­”

Number of civilian federal employees in 1966? 2.77 million
Number of civilian federal employees in 2010? 2.77 million

Total US population 1966: 196 million
Total US population 2010: 308 million

Total size of US economy 1966: $806 billion
Total US GDP 2010: $14.2 trillion

So the US population has increase by roughly 40%, and the size of the economy has grown by roughly 15 times,but the size of the employee pool that collects the taxes, mans the courts, lands the planes, delivers the mail has stayed the same?

Maybe that’s why government has the perception of not working. They aren’t staffed enough.
http://www­.opm.gov/f­eddata/His­toricalTab­les/TotalG­overnmentS­ince1962.a­sp

December 21 2011 at 2:49 PM Report abuse -1 rate up rate down Reply
chris1011

Was Eisenhower a conservative? Was he wrong when he wrote this:

Should any political party attempt to abolish social security, unemployme­nt insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes you can do these things. Among them are H. L. Hunt (you possibly know his background­), a few other Texas oil millionair­es, and an occasional politician or business man from other areas. Their number is negligible and they are stupid.

--The Papers of Dwight David Eisenhower­, Volume XV - The Presidency­: The Middle Way
Part VI: Crises Abroad, Party Problems at Home; September 1954 to December 1954
Chapter 13: "A new phase of political experience­"

December 21 2011 at 2:48 PM Report abuse -1 rate up rate down Reply
chris1011

Seniors surviving on fixed incomes and essentially living in poverty, yet Republicans in Congress have consistently voted en masse to increase their salary every year since 2000—not bad, when you consider that teachers and firefighters are taking huge pay cuts just to keep their jobs. Of the members of Congress, two-thirds are millionaires, with an average annual income of $700,000.

Strangely, where were the Tea Birthers when Bush 43 was creating the current deficit by giving trillion dollar, job-killing, revenue draining tax cuts to the wealthy and corporations? Working class conservatives do not have a clear understanding of who is responsible for creating the deficit crippling our Nation—it’s not Obama. America cannot be ruled by corporations or the top 2%. When Republicans controlled both Houses and the Presidency, they tripled the deficit, erased 10 million jobs, squandered the Clinton surplus, supported disastrous subprime mortgage derivatives, deregulate­d oil and mining (causing great loss of life), and tricked us into two wars.

Without the Bush tax cuts, we would have created a $739 billion surplus; instead, Republicans added trillions to the deficit to pay for tax cuts for the wealthy. For republicans, free-enter­prise means corporations should be free to exploit Americans with no oversight. Republicans have consistently voted against ending non-stimulative, job-killing tax cuts for the wealthy, a decision I find reprehensible.

Using reconciliation, Republicans forced legislation to raise the debt ceiling 7 times and borrow money from China to pay for massive reductions in the estate tax, a move that benefits the top 1.6% (less than 100,000 Americans), while sabotaging Obama’s stimulus plan, which saved the American auto industry (and 200,000 jobs) and expanded the overall economy 4.7%.

December 21 2011 at 2:46 PM Report abuse -1 rate up rate down Reply
chris1011

Let me make it crystal clear: Tea Party Republican­s oppose raising taxes for millionair­es, but have no problem raising taxes for the middle clas­s. The total tax burden on Americans in 2010, as a percentage of GDP, was 24%, lower than it was in 1965. In comparison­, Canadians paid 31% of GDP in taxes, Britons 34%, Germans 37%, and the French 42% (and all have successful single payer health care­), yet Tea Party Republican­s backed by the Koch Brothers are pushing to lower the tax rate for the top 2% to a mind-numbi­ng 14% of GDP, while increasing the tax rate for middle clas­s Americans to 36%.

Corporate taxes are at their lowest point in 60 years, yet Tea Party Republican­s are pushing to lower the corporate tax rate to 12%, even as cash-soake­d corporatio­ns are sitting on $22 trillion in revenue and continue to close US factories, pink-slip Americans, ship jobs overseas, bilk Americans via Republican create tax loopholes, and conspire with lobbyist to keep lucrative taxpayer funded subsidies in place.

Revenue is at a 15 year low, leaving many states unable to pay for the replacemen­t or repair of aging bridges, roadways, and sewer systems, yet, in an effort to defeat Obama, Republican­s continue to throw gasoline on our current economic crisis they created by calling for deeper reductions in revenue, even though Obama offered $4 trillion in cuts for $1 trillion in tax increases aimed at closing tax loopholes for corporatio­ns and millionair­es (Bachman opposes exempting the first $20,000 in income from payroll tax, a move uniquely designed to benefit the middle clas­s).

72% of Americans support raising taxes on the top 2%, also known as the Republican base, yet Tea Party Republican­s keeping promoting baseless claims that reducing taxes on millionair­es will create jobs, which failed to happen from 2000-2008, when Republican­s controlled American politics and 11 million jobs vanished, outsourced overseas. Under Bush 43, spending increased 241% ($11.6 trillion), while revenue decreased 442%, due primarily to cuts in income and capital gains tax for the wealthy (under Reagan, the capital gains tax was 28%, under Bush it was 14%, accounting for billions in loss revenue), which led to massive teacher lay-offs and a 93% loss of total wealth for middle clas­s Americans.

December 21 2011 at 2:41 PM Report abuse -1 rate up rate down Reply
1 reply to chris1011's comment
chris1011

I find it amusing that Republican constituents are surprised at the GOP agenda. It hasn't changed in 40 years. Once about every ten years, they get overconfid­ent and step over the line and their true nature becomes apparent, even to the ignorant, and their base gets a taste of how the GOP envisions America...with them left behind.

I will continue to ask the question of why Conservatives, apart from the extremely rich, vote Republican. No part of their legislative agenda is in the best interest of anyone but said wealthy.

There are plenty of Democrats that share their same conservatives social values and will endeavor to legislate them if elected. However, they will also work toward legislatio­n that is in their best economic interest. Legislatively,the GOP have no social morals apart from Bourgeois elitism, devoid of a middle class.

The country is moving precisely in the direction that the GOP intends with healthy corporate bottom lines and stock market, insanely low taxes and interest rates, minimal regulation and trade agreements, several wars, massive spending cuts that target the middle and lower classes, unlimited corporate donations and high gas prices. These are no mistakes. The tragedy is how a Democratic majority allowed all of this to happen.

December 21 2011 at 2:43 PM Report abuse -1 rate up rate down Reply
1 reply to chris1011's comment
chris1011

The dominance of Tera Party thinking is not a long term thing. We have gone thru this before, for instance during the Hoover era. A prominent economics scholar has said that you really have two choices, either do not tax rich people and allow the money to float upward, or tax them and use it to advance the economy thru public expenditures.

In the first case, the money floats up and gets concentrated in unproductive monetary vehicles with a resultant unemployment of around 25% (basically what we have right now). In the second case the money is kept in circulation and used to fund all kinds of stuff, including advanced science. With money constantly circulating, there is full employment. There is also a multiplier effect, for every dollar spent on science research we get back between 3 and 5 dollars of future economic growth.

Those who advocate austerity do not realize the effect of this kind of thinking. The rich have no need for science. They have all the money and comfort that money can provide, plus they have cheap labor at their beck and call. They really do not want any sort of egalitarian society where everyone has equal opportunity. They feel rightfully and biblically entitled to their earned or inherited wealth and resent any sort of spreading of the goods.

December 21 2011 at 2:44 PM Report abuse -1 rate up rate down
chris1011

You want more jobs? Jobs come from innovation, and innovation comes from knowledge.

Knowledge is infinite and was the main driver of American prosperity for decades.

We are however coming into a wave of anti-educa­tion, anti-intel­lectualism and anti-inves­tment.

The R&D of WWII drove a robust economy for 20 years. The space race R&D drove a robust economy for decades after.

Now we have the slashers stepping up to boost next quarter's profits while ******* every dollar out of the future.

For the first time in history the USA is filing less patents than the rest of the world. Doesn't bode well.

December 21 2011 at 12:07 PM Report abuse -2 rate up rate down Reply
1 reply to chris1011's comment
kernershort

Yes, jobs come from innovation, knowledge, perseverence, competence and the desire and possibility to enjoy the fruits of one's own accomplishments. Jobs don't come from government bureaucrats. If they did, the old Soviet Union would have been the richest country in the world.

December 21 2011 at 1:21 PM Report abuse rate up rate down Reply
1 reply to kernershort's comment
chris1011

However, government funding of basic research led to the invention of integrated circuits (needed for space flights), which led to the computer revolution. Lots of ways that government spending resulted in new industries. Private corporations cannot do the long term research and development on things like drugs that ultimately save lives. A huge portion of that kind of research is done at public Universities, paid for by taxpayers, and ultimately leads to drug company profits.

December 21 2011 at 2:37 PM Report abuse -1 rate up rate down
chris1011

The simplest of mathematics shows that the budget cannot be balanced through cuts alone (it would require eliminating Medicare, Medicaid and 80% of the defense budget) nor can it be balanced simply with tax increases (a 30% increase in taxes). What is really required is increased employment i.e. more tax payers and higher paying jobs combined with tax increases and budgetary economies.

Grover Norquist has hijacked the Republican party and turned it into a libertarian weapon of mass economic destruction. That a government which taxes its citizens at levels far below those of most developed nations should not even consider closing loopholes and raising taxes for the ultra-wealthy borders on insanity.

If there were a true national emergency (i.e. a major war) and the government were hamstrung by a balanced budget amendment and the Norquist pledge you might as well down weapons and let the barbarians in the gates.

That is an extreme example I admit but a similar, and unavoidable, emergency may come in the near future as the climate changes dramatically - population displacement, drought, famine, extreme weather events. How would a Republican government handle such an outcome; it would probably handle it by denying it. If it doesn't fit the ideology it doesn't exist.

December 21 2011 at 12:06 PM Report abuse -2 rate up rate down Reply
1 reply to chris1011's comment
kernershort

Of course we need more people employed and paying taxes to balance the budget, but our government's policies are not geared toward that outcome.

December 21 2011 at 1:14 PM Report abuse +2 rate up rate down Reply
chris1011

The rich are not job makers, what makes jobs is demand for products and services. 75% of the economy depends on small businesses whose owners are not rich and would not fall in the $250k yearly taxable income bracket. These small businesses are the job drivers in our economy, and they are not being served or represented by our newly elected Tea Party congress.

The Tea Party members are beholden to large corporate interests (Koch Brothers comes to mind) who have bankrolled their 2008 elections. These corporations have only one thing on their agenda, destroy the power of government to regulate them, get rid of taxes for themselves, get rid of social safety nets, get rid of all restrictions like clean water and air, so they can maximize profits. Tax breaks for sending jobs overseas, to bring wages down for everyone.

December 21 2011 at 12:05 PM Report abuse -2 rate up rate down Reply
1 reply to chris1011's comment
kernershort

Again, much of what you say is true, but those corporations produce most of the products and services we use every day, while providing millions of jobs with decent salaries and benefits. The bureaucrats should be concerned with safety and environmental regulations - and nothing more.

December 21 2011 at 1:09 PM Report abuse rate up rate down Reply
chris1011

14 trillion Debt:

Who hold the debt:

3.6 T held by individuals
1.2 T held by china
0.9 T Japan
0.7 T Britain and OPEC countries
1.9 T Others
1.6 T Fed Reserve
2.7 T SS surplus Trust fund
1.9 T Other gov trust funds

Who accumulated the debt:

1.0 T Before Reagan
1.9 T Reagan - defense and tax cuts
1.5 T George Bush Sr. - Gulf war
1.4 T Bill Clinton
6.1 T George W. Bush - 2 wars and tax cuts
2.4 T Obama - Stimulus, tax cuts, unemployment compensation

December 21 2011 at 12:04 PM Report abuse -2 rate up rate down Reply
1 reply to chris1011's comment
kernershort

Bill Clinton actually produced budget surpluses.

December 21 2011 at 1:02 PM Report abuse +1 rate up rate down Reply