Blind Man's News

December 11, 2010

More Spending No Jobs

President Obama gave in to Republican pressure to extend the tax cuts, but he put into the new bill an extension of 13 weeks onto unemployment benefits. For people on unemployment, this may seem like a good thing, but is it really? Wouldn’t these same people rather be working? Would they trade a government check for a paycheck? Most people would. So why don’t the Democrats in Washington start putting money into job creation instead of dead-ended government handouts?

Apparently, our elected morons are hearing our cries, but they are not smart enough to solve a simple problem. Extending the tax cuts does give some relief to companies which hire employees, but the effect is minimal. If economic stimulus is the objective, then all incentives need to be tied in some way to job creation. The best way to do that is a tax break for employers who hire workers for one year instead of a tax cut across the board. Large companies could save significantly more in taxes by hiring more employees. Since people would be getting back to work, money would be available to spend again, so the economy starts rolling again.

We have a government that seems to be lost and clueless as to how to motivate people and companies. Bailouts are not the answer. People need some incentive to get going; then clear the way of obstacles (unnecessary regulations); and watch how fast things can bounce back.

December 9, 2010

Bush Tax Cuts and Jobs

President Obama has sided with  the Republicans on extending the Bush tax cuts for all Americans. I am not surprised, but I really expected more from both parties. This was a perfect opportunity for the Democrats to score big with the American people by denying the tax cuts for wealthier Americans and tying tax breaks to job creation instead.

The Republicans keep ranting that rich investors and wealthy Americans are the job creators. This is true, so why not give these people tax credits for creating jobs instead of a built-in break. By taking away the tax break and replacing it with a more lucrative tax credit, there would be great incentive to create jobs by investing money to keep the government from taking it.

I would like to see this plan worked into the tax laws for 2011. It is too late for 2010. The President missed an opportunity to win points with the middle class and poor while freeing the wealthy to get back to the business of making money and jobs. I am not surprised. The President has been great at playing politics, but pathetic at leadership. We need the job building incentives that are directly tied to creating jobs. Does anyone in Washington get that? Apparently not.

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