Prosperity
and Capitalism
America’s Oil Boom
Reaganomics Vs.
Obamanomics
Obama Jobless Recovery
Red States Vs Blue States
Growth States Vs Declining States
Texas - 1.1 Million Jobs Created
Rest of the U.S. - 350 Thousand Jobs Lost
The Greatest Story Never Told
- 64 %
+ 1,500%
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Top Income Tax Share
80%
45
70%
40
60%
35
50%
30
40%
25
20
30%
15
20%
10
10%
5
0%
0
Year Top 1% Income Tax Share
Top Marginal Income Tax Rate
1% Income Tax Share
America’s Boom and Bust
Taxmageddon
Tax Rates Under Obama in 2013
Old Rate
Obama Rate
35%
Death Tax
40%
15%
Dividends
24%
15%
Capital Gains
24%
35%
Income tax rate
0.00%
41%
10.00%
20.00%
30.00%
40.00%
50.00%
Barack Obama Simplified tax form
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:
Rich Pay More Than Their Fair Share
2010 Income and Income Tax Shares
40
Top 1%
Bottom 50%
37
35
Percent
30
25
20
19
15
11
10
5
2
0
Income Share
Income Tax Share
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:
http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html
The Laffer Curve
Tax Rate
100%
Normal Range
Prohibitive Range
0%
Tax Revenue
Inflation Rate, 1950-2013
Past performance is no guarantee of future results.
Source: http://research.stlouisfed.org/fred2/graph/?id=CPILFESL,
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,
10 -Year Treasury Note yield
Jan 1960 to June 2013
Past performance is no guarantee of future results.
Source: http://research.stlouisfed.org/fred2/graph/?id=DGS10,#
real interest rate on 10-year U.S bonds
Jan 2003 to June 2013
Past performance is no guarantee of future results.
Source: http://research.stlouisfed.org/fred2/graph/?id=DGS10,#
Education and Medical Prices Skyrocket
While Import Prices Drop
CPI, Percent Change, 2000 to 2009
70%
80%
60%
40%
44%
50%
24%
20%
0%
-5%
-20%
-6%
-40%
-39%
-60%
-80%
-76%
-100%
All Items
Education
Medical
Care
Energy
New
Vehicles
Past performance is no guarantee of future results.
Apparel
Software
Computers
Bureau of Labor Statistics, Consumer Price
Index, Available at:
Worker Well-Being
160
Index, 1980=100
150
Per Capita Income
140
130
Total Compensation
120
110
Wages and Salary
100
90
1980
1982
1984
1986
1988
1990
1992
Past performance is no guarantee of future results.
1994
1996
1998
2000
2002
2004
2006
Based on data from the Census Bureau and the Department of Labor.
Number of Years It Took for Major Technologies
to Reach 50% of American Homes
Past performance is no guarantee of future results.
High Technology
Guns and Butter: Federal Spending Explodes
1995 – 2010
$3,000
Defense Spending
Billions of U.S.
Dollars
$2,500
$2,000
Total Nondefense Spending
(Discrestionary and
Mandatory)
Nondefense
$1,500
$1,000
$500
Defense
$0
1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010
Past performance is no guarantee of future results.
Source: Congressional Budget Office, Historical Budget Data, Available at: http://www.cbo.gov/
Where does your federal tax dollar go?
Flushed Down
Tossed Down
a Toilet
the Drain
8% Pissed Away
5%
15%
Given to
"Supporters"
19%
Postage Stamps
Corruption
6%
15%
Down a
Rat Hole
24%
Sleaze
8%
Source: IRS, GAO, BEA, BLS,
CEA, JEC, ETC.
High Corporate Taxes Make the U.S. Uncompetitive
U.S. Corporate Tax Rate v. Average for Developed Countries
40
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
41
40
37.9
38
37
37
36.7
36.7
35.7
34.8
33.6
32.5
31.2
30.7
29.8
28.6
28.1
27.6
26.6
26.29
25.2
25.1
25.1
25.1
U.S. Combined Federal and State Tax Rate
U.S. Corporate Tax Rate v. Average for Developed Countries
Combined Central and Subcentral Government Corporate Tax Rate
Combined Central and Subcentral
Government Corporate Tax Rate
U.S. Corporate Tax Rate v. Average for Developed Countries
45
45
40
35
30
25
U.S. Combined Federal and State Tax Rate
35
30
25
20
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
Gold Price
January 1970 – January 2013
Nixon/Ford
276%
1970
1975
Carter
316%
1980
Reagan
-28%
1985
Bush
4%
1990
Past performance is no guarantee of future results.
Clinton
-19%
1995
Bush
236%
2000
Obama
46%
2005
2012
Economic Freedom and
40,000
Income
35,000
$37,691
30,000
25,000
20,000
15,000
10,000
5,000
0
$16,957
$5,188
$6,596
Least Free 3rd Quartile 2nd Quartile Most Free
Quartile
Quartile
Source: EFW 2012, Exhibit 1.7.
Free Countries are Wealthier and Healthier
$35,000
80.0
78.7
75.0
$25,062
69.9
$25,000
70.0
Life Expectancy
64.8
65.0
$20,000
60.0
$15,000
56.7
$13,789
55.0
$10,000
50.0
$6,404
Life Expectancy at Birth, 2005
GDP per Capita, PPP, 2005
(Constant 2000 International $)
$30,000
$5,062
$5,000
45.0
$0
40.0
Most Free
Second
Third
Economic Freedom
Source: Cato Institute and Fraser Institute, Economic Freedom of the World, 2007.
Least Free
Past performance is no
guarantee of future results.
2000-01
2000-05
2000-09
2001-01
2001-05
2001-09
2002-01
2002-05
2002-09
2003-01
2003-05
2003-09
2004-01
2004-05
2004-09
2005-01
2005-05
2005-09
2006-01
2006-05
2006-09
2007-01
2007-05
2007-09
2008-01
2008-05
2008-09
2009-01
2009-05
2009-09
2010-01
2010-05
2010-09
2011-01
2011-05
2011-09
2012-01
2012-05
Major Currencies Dollar
Index Number
Dollar at Record Lows
Dollar Index, August 2000 – November 2012
115
110
105
100
95
90
85
80
75
70
65
2000 2001 2002 2003 2004 2005 2006 2007 2008
Past performance is no guarantee of future results.
2009 2010 2011 2012
Source: Federal Reserve Bank, Nominal Major Currencies Dollar Index
National Debt
by President and Control of Congress
Source: http://advisorperspectives.com/dshort/updates/Debt-Taxes-and-Politics.php?federal-debt-to-gdp-politics-update
Actual vs. Expected unemployment rate:
2009-2013 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