Prosperity and Capitalism

Transcription

1 Prosperity and Capitalism

2 America s Oil Boom

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4 Reaganomics Vs. Obamanomics

5 Obama Jobless Recovery

6 Red States Vs Blue States

7 Growth States Vs Declining States

8 The Greatest Story Never Told - 64 % + 1,500%

9 Top Income Tax Share 1% Income Tax Share America s Boom and Bust 80% 45 70% 60% 50% 40% 30% 20% 10% % 0 Year Top Marginal Income Tax Rate Top 1% Income Tax Share

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11 Taxmageddon Tax Rates Under Obama in 2013 Old Rate Obama Rate Death Tax 35% 40% Dividends 15% 24% Capital Gains 15% 24% Income tax rate 35% 41% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00%

12 Barack Obama Simplified tax form

13 Bottom 95 Percent Pays Less than Top 1 Percent Past performance is no guarantee of future results. Source: Internal Revenue Service, Statistics on Income, Number of Returns, Shares of AGI and Total Income Tax, AGI Floor on Percentiles in Current and Constant Dollars, and Average Tax Rates, Table 1. Available at:

14 Percent Rich Pay More Than Their Fair Share 2010 Income and Income Tax Shares 40 Top 1% Bottom 50% Income Share Income Tax Share 2 Past performance is no guarantee of future results. Source: Internal Revenue Service, Statistics on Income, Number of Returns, Shares of AGI and Total Income Tax, AGI Floor on Percentiles in Current and Constant Dollars, and Average Tax Rates, Table 1. Available at:

15 Tax Rate The Laffer Curve 100% Normal Range Prohibitive Range 0% Tax Revenue

16 Inflation Rate, Past performance is no guarantee of future results. Source:

17 Helicopter Ben Year on Year Monetary Base Growth, bi-weekly, percent, through June 2013 QE2 QE1 QE0 Past performance is no guarantee of future results. Source: Federal Reserve Bank of St. Louis, Monetary base Growth, Available at:

18 10 -Year Treasury Note yield Jan 1960 to June 2013 Past performance is no guarantee of future results. Source:

19 real interest rate on 10-year U.S bonds Jan 2003 to June 2013 Past performance is no guarantee of future results. Source:

20 Education and Medical Prices Skyrocket While Import Prices Drop CPI, Percent Change, 2000 to % 70% 60% 40% 24% 44% 50% 20% 0% -20% -5% -6% -40% -39% -60% -80% -76% -100% All Items Education Medical Care Energy New Vehicles Apparel Software Computers Past performance is no guarantee of future results. Bureau of Labor Statistics, Consumer Price Index, Available at:

21 Worker Well-Being Index, 1980=100 Per Capita Income Total Compensation 110 Wages and Salary Past performance is no guarantee of future results. Based on data from the Census Bureau and the Department of Labor.

22 Number of Years It Took for Major Technologies to Reach 50% of American Homes Past performance is no guarantee of future results.

23 High Technology

24 Billions of U.S. Dollars Guns and Butter: Federal Spending Explodes $3,000 Defense Spending $2,500 $2,000 $1,500 Total Nondefense Spending (Discrestionary and Mandatory) Nondefense $1,000 $500 Defense $ Past performance is no guarantee of future results. Source: Congressional Budget Office, Historical Budget Data, Available at:

25 Where does your federal tax dollar go? Tossed Down the Drain 5% Given to "Supporters" 19% Flushed Down a Toilet 8% Pissed Away 15% Down a Rat Hole 24% Source: IRS, GAO, BEA, BLS, CEA, JEC, ETC. Postage Stamps 6% Corruption 15% Sleaze 8%

26 Combined Central and Subcentral Government Corporate Tax Rate Central and Subcentral Government Corporate Tax Rate High Corporate Taxes Make the U.S. Uncompetitive U.S. Corporate Tax Rate v. Average for Developed Countries U.S. Corporate Tax Rate v. Average for Developed Countries U.S. Combined Federal an U.S. Corporate Tax Rate v. Average for De 40 U.S. Combined Federal and State Tax Rate Past performance is no guarantee of future results. Note: The bars are the average tax rate in the rest of the world. Source: OECD Tax Policy Analysis

27 Gold Price January 1970 January 2013 Nixon/Ford 276% Carter 316% Reagan -28% Bush 4% Clinton -19% Bush 236% Obama 46% Past performance is no guarantee of future results.

28 Economic Freedom and Income 40,000 $37,691 35,000 30,000 25,000 20,000 15,000 $16,957 10,000 5,000 $5,188 $6,596 0 Least Free Quartile 3rd Quartile 2nd Quartile Most Free Quartile Source: EFW 2012, Exhibit 1.7.

29 GDP per Capita, PPP, 2005 (Constant 2000 International $) Free Countries are Wealthier and Healthier $35, $30, $25,000 $20,000 $15,000 $10,000 $5,000 $25, $13,789 Life Expectancy 64.8 $6, $5, Life Expectancy at Birth, 2005 $0 Most Free Second Third Least Free Economic Freedom Source: Cato Institute and Fraser Institute, Economic Freedom of the World, Past performance is no guarantee of future results.

30 Major Currencies Dollar Index Number Dollar at Record Lows Dollar Index, August 2000 November Past performance is no guarantee of future results. Source: Federal Reserve Bank, Nominal Major Currencies Dollar Index

31 National Debt by President and Control of Congress Source:

32 Actual vs. Expected unemployment rate: UNDER PRESIDENT OBAMA Source: "The Job Impact of the American Recovery and Reinviestment Plan," 2009, president's Council of Economic Advisers; Bureau of Labor Statistics, Labor Department. Graphic: The Washington Post. Published Oct. 7, 2011