Social Question

josie's avatar

Do you think you will lose your job in 2011?

Asked by josie (28438points) August 5th, 2010

The Bush tax cuts expire this year. Other taxes become active over the next couple years, and loopholes are being closed. As has always been the case, people will take “next year’s” income, this year in order to avoid next year’s taxes. Also, in anticipation of greater regulation and taxes causing price increases, consumption is being moved from 2011 into 2010. All of this means that the 2010 economy looks better than it really is. Next year, under the burden of higher taxes and decreased consumption, businesses will have to lower their costs. Since personnel is always a big expense, that means they will have to let people go (which means that the government will get less in revenue from income and sales taxes by the way). Since it is unlikely that this government will admit that raising taxes is a bad idea, some of us will not have jobs next year. Do you think you could be one of them?

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28 Answers

BoBo1946's avatar

No, I’m retired. no one can have my job! I love it.

But, Congress needs to act on this.

CMaz's avatar

No, I work for Jesus.

Cruiser's avatar

No…I never have nor never will have to worry about my job…but I lay awake at night wondering if I will be able to afford the workers I currently have with tax hikes, and force fed expensive health care programs coming at me.

MyNewtBoobs's avatar

No, because I already lost it.

tedd's avatar

Taxes will remain lower than they were during the Clinton presidency, which was the second most economically prosperous time in our countries history. The only addition is healthcare, which if you actually read the facts will save the average citizen (not to mention the government) billions of dollars.

To answer the basic question though, no, I’m not worried about it at all, business has been booming here.

Cruiser's avatar

@tedd I don’t know where you live but our Corp Fed taxes is going to go up 3% and my State 1.5% so thank you very little for a 4.5% jump in taxes. That alone would pay for 2 new workers I could use at my plant, won’t be able to afford them now!

tedd's avatar

@Cruiser Its not a tax hike, its the expiration of tax cuts put in place early in the Bush years. Expiration dates that were agreed upon and put in place by Republican led congress and presidencies. Those tax cuts were NOT in place during the entire Clinton presidency, which was incredibly more prosperous than the Bush presidency.

Further more, the current congressional Democrats and president Obama want to EXTEND the tax breaks, for everyone except the top 2% of income populous (people making like 250k or higher on their own). Republicans are holding up the legislation (as per usual).

Randy's avatar

@papayalily Yeah, me too. It’s hard to lose a job when you don’t have one and are having trouble finding one.

aprilsimnel's avatar

Oh, no, please, I’m still looking for a job! More layoffs!??!

Cruiser's avatar

@tedd Double speak!! I could give a rats ass what it might have been or what you want to call it now….all I know is for the first time in 10 years my taxes are going up as in “hiked” up higher than they were, as in costing me more money, as in screwing my ability to spend money to make my company grow.

tedd's avatar

@Cruiser Then you can thank president Bush and a Republican controlled congress for working in ending dates to those tax cuts, and current Republicans for fillibustering efforts to extend the majority of them.

Besides, were you aware that the ENTIRETY of the Bush tax cuts was added to the national deficit and debt? Thats 1.5 TRILLION dollars, in debt, so that he could give a tax cut and not cut spending.

Your refund check for the last 10 years might as well have been printed in Chinese, because they paid for it.

CaptainHarley's avatar

Nope. Not worried at all. I’m retired/disabled military. If they decide to not pay me, we’re ALL in trouble.

CMaz's avatar

@CaptainHarley – My dad and brother are in the same boat as you.

They say the same thing. lol

CaptainHarley's avatar

@ChazMaz

LOL! Yeah, us old veterans iz all alike anyway! : D

Tell them I said hi! : ))

Austinlad's avatar

More likely than losing my job will be that it loses me.

Simone_De_Beauvoir's avatar

My grant expires in August 2011 – they’re looking to extend it but it’s very possible that I will have to look elsewhere for work.

cookieman's avatar

Well, one of my three jobs just ended this month (it was a year-long contract gig)...

And I know I will be losing one of my two remaining jobs in June of 2011. The college I teach at will be shutting down the night program next Summer (to focus more efforts on the lagging day program). I’m pretty sad about it.

But I should still be pretty stable with my day job, so I’m not complaining. Plus, I have a whole year to pick up another side-gig.

CMaz's avatar

Don’t worry. It will all be over in 2013.

cookieman's avatar

@ChazMaz: This is a good point.

Cruiser's avatar

@tedd All fine and dandy to crunch raw tax dollar numbers but what you fail to recognize is all the jobs those tax breaks generated…unemployment was at a 30 year low during the Bush years and our buddy Obama has turned a 5.8 unemploement number into almost double digits 9.7%!! Plus all the bonuses those tax dollars went to, all the 401 k’s and other company “fringe” benefits that those extra tax dollars went to…all the machinery and equipment those tax cuts allowed companies to invest in which in turn generated revenue and profits for those on the receiving end of those tax dollars.

Bottom line is Tax breaks generate jobs which would get a huge chunk of those who were responsible for BO feeling the need to extend government handouts to those who can’t find a job thanks to BO’s wonderfully screwed economy and think of all the money we could save on those unemployment checks that would go a long way towards covering the extension of those Bush tax cuts!! Stimulus what??

We could “pay” for extending those tax breaks in one easy swipe of the pen if the Democrats would get off their asses and cut government spending to where it actually is making some responsible effort towards shrinking this record deficit!

As far as the Chinese, they are now quivering in their boots as they watch how much more worthless Obama has devalued the US dollar.

mowens's avatar

I know exactly when my job ends. The begining of January.

It’s all good though, I have a resume out there, and enough time to say no to people.

YARNLADY's avatar

I worry about my husband losing his job. We already help support several other family members who are out of work. At least three families would be out in the street if anything happens to his job.

(Or worse, they would have to move back in with us, which was a very difficult situation for a couple of years last time.)

He says his company is very strong, and his job is secure as long as the company lasts, so I should not be concerned.

dalepetrie's avatar

Not too worried, was out of work for 16 months until May. Now I’ve joined the enemy…work for the investment arm of a large bank. My job isn’t going anywhere unless I really screw something up. Plus if it does, as long as I’m employed for 9 months, I should be able to start a new unemployment account and still get the maximum benefit…I’ve lived through it before, I could live through it again if I had to.

As for this hysteria about Obama “raising” taxes, regardless of whether you think of it as a tax hike or the reinstatement of taxes that were previously given irresponsibly, fact is corporate taxes, even if they are raised by 4.5% total, don’t strike me as quite the hardship @Cruiser is making it out to be.

I know it’s “easy for me to say” when I don’t own a business, but I have been an accountant for 17 years, and I do know that corporate taxes are paid on corporate profits. Ergo, unless your business is profitable, meaning AFTER you’ve paid ALL your expenses, INCLUDING the salaries of all your employees (yourself included), if you STILL have money LEFT OVER, it is taxed. So the idea that losing 4.5% of your net profits after all expenses are paid is keeping people from growing their businesses is absurd.

Consider that if you look at the other knee-jerk reaction right wingers pull out when it’s suggested that some things maybe would be cheaper if better regulated by the government (such as health care, the other big scary issue keeping @Cruiser up at night) is that investment is what it’s all about, you invest money in something because you want to turn a profit…if you’re not invested in it and it’s just an “entitlement” it leads to waste because the bottom line doesn’t affect anyone. Well, seems to me that based on both this argument, and what logic itself would dictate, you are not going to invest or not invest in expanding your company simply due to the tax issue. In fact, investing in your company would drive UP your expenses and drive DOWN your tax liability, and bottom line is, you WILL find a way to expand your business if there is money to be made in so doing. You expand because you can make MORE money, not because your taxes are going up or down. Yes, taxes are a component of the total cost of ANY business decision, but these people who cry foul when their taxes might be raised, just to make them pay the same as a percentage of their income as everyone else, constantly overstate the bad, ignore the good and make mountains out of molehills.

KhiaKarma's avatar

If things get as bad as I think they will, my job will become even more of a necessity. My job saves the federal government money (They save $5 for ever $1 spent) so I don’t think I have to worry.

tedd's avatar

@cruiser ummm, I’m not sure where you’re getting your facts from, but unemployment was lower during the Clinton era than it ever was during the Bush era (multiple times). In fact the lowest unemployment numbers Bush ever saw were in 2000, right after taking the oath, with what would still largely be considered Clintons economy.

And Barack received an economy that was hemorrhaging jobs. No one in their right mind would blame BO for the loss of jobs. You can blame him for the fact that he hasn’t replaced nearly enough (though it should be noted that jobs HAVE in fact been gained for the past what, 6–8 months straight?)

The Bush tax cuts DID NOT create jobs, and they lead to a massive economic collapse that almost caused a depression, were it not for the bank bail out and a stimulus bill.

And if you want to talk record deficit and debt (which are different things btw) you can thank the republicans. The biggest DEFICIT in history was the 1.4 trillion dollar deficit Bush handed Obama. The biggest DEBT in our history is right now as far as actual number, around 14 trillion. But if you’re talking bigger PERCENT of GDP (which is the more valuable number), we’re still less than 100%, and the number has been higher many times in the past (most notably at the end of the civil war and WW2).

Heck, HALF of our current national debt was incurred by REAGAN for hecks sake. Bush gave tax cuts whilst increasing military spending and not making any major cuts to domestic programs. He was a financial idiot.

And just so you know, the dollar has actually gone UP in value since Obama took office.

I suggest you stop watching fox news, they’ve warped your mind.

CMaz's avatar

“Heck, HALF of our current national debt was incurred by REAGAN”
That is hitting the nail on the head.

Causing us to have the bank bail outs and a stimulus bill.
By the way, “were it not for the bank bail out and a stimulus bill” is code for world bank mobster mentality control.

When Don Regan got away with yanking President Reagan around. It was all over.

Obama is just transitioning us into that new world order. Having no real control to do anything.

tedd's avatar

@ChazMaz Don’t get me wrong, I’m not at all a fan of the bank bail out, and I wish there had been something other than the stimulus we could’ve done.

But to let those banks fail, and to not do SOMETHING to stimulate the economy…. would’ve been disastrous. All we can do now is try to ensure we never reach the point of being stuck doing thing we don’t like, again.

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