Is this really the American Jobs Act?
At no point in time during that speech did I hear anything that made me believe that Private Sector jobs were going to be created. He talked about cutting Corporate taxes. Ok. How much? How long? Business won’t hire if its not significant and long term. But that was it. How can government create jobs? Cut spending. Cut debt. Encourage companies to build their businesses in the USA by promising long term significant reductions in regulations and taxes. Significantly change the tax code.
He did say he wanted to give tax credits to small businesses who hire people, but think about that for a minute. A tax credit is a one time offering and thereafter that employee must be maintained at full price. Now think about this. His healthcare plan adds a between 4 and 8 percent (of employee pay) tax on all employees. Now you get a small business that hires someone, they get a one time tax break for one revenue cycle, and then they have to pay between 4 and 8 percent of that person’s salary to pay for their healthcare plan. Uh Uh. Sorry. Thats not a plan. Thats a disaster waiting to happen. Thats kicking the can down the road.
He also said he wants to cut payroll taxes, but if that’s going to happen, and he is gonna tinker with the tax code why not just dig in and change the whole dang thing? If a republican wanted to change the tax code there would be howls of outrage from across the nation that they are stealing money from the treasury and hurling grandma off the cliff in a wheel chair, but if a democrat wants to change it and reduce it there is applause? He’s not stealing? Well then why not just go all the way and scrap it and change it for real. This is a gimmick. It will not jump start the economy. This gimmick has proven in the past it will not jumpstart the economy. Only significant changes to the system of taxation in America will jumpstart the economy. We are using a tax system and code that is 100 years old. It served out great grandparents well but in this age of Technology it kills jobs and is killing our economy.
To complicate matters this so called plan of Obama’s won’t be available for 10 more days. Nobody has seen it. It was and is not available to the public nor to the Congress, and Obama will not make it available to anyone for 10 more days. How does that happen? He demands a joint session of congress to address the nation on jobs with what he says is a jobs plan, but then none of it is in writing. How does he get away with that? Does that tell you that possibly the whole address before Congress was a scheme to upend the Republican Debate at the Regan Library? How long will this plan be out and available to the public to review? How is this going to really be paid for? Should it be paid for? It was full of juicy Union and Teacher promises and benefits. Should the government be paying for jobs? Isn’t that counter productive? Doesn’t that seem bassakwards? The government paying for jobs. Hmmm. Ok. I thought the private sector did the jobs thing, and from that revenue rolls in.
Obama’s plan is to spend 450 billion dollars on government jobs and then get a fraction of that back in tax revenue. We go into the hole by another 1/2 trillion and get a small fraction returned. We then end up in worse shape than what we started in. He gets to avoid the problem for a year until he gets re-elected and then who cares after that. He’s the Lame Duck or potentially the Dictator. Spend 450 billion get 20 billion or so back in tax revenues is not a job creation plan. Its planned debt to add to the 15 trillion we owe now which will enrich those who own that debt. We pay 400 billion yearly in interest on the debt. Guess what, someone is pocketing that 400 billion yearly. Who? Find that out and you will find the reason why Obama and this government wants to dig a deeper debt hole for us to have to dig ourselves out of. Are you seeing what I am seeing? Really. This is a true case of him calling the sky green when it is really blue.
If he really wants jobs then Drill baby Drill. It will create an estimated 1.2 million jobs over the course of a year and many of those jobs will be Union jobs. It will also effectively reduce the price of gas which will instantly put money into consumers and businesses pockets to pump back into the economy and create jobs. It will also effectively keep 100’s of billions of dollars in our pockets by not sending those dollars to other nations to pay for oil. It will also effectively end the war on terror since terrorists will no longer have a source of funding. If he wants a jobs plan scrap the tax code and drill baby drill. Sounds simple but really the simplest things in life are often times the most genius. And I didn’t come up with this plan. Some other genius did. His/Her name is common sense.
We need leadership not compromise. We need ideas that can work effectively no more experimental legislation that makes political science look more like political dice and tea leaf reading.