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May 20, 2013 By Robert Wilder Comments 5
News
09.09.2011
1 Comments
FACT SHEET: Obama's Jobs Speech
By Alexa Schirtzinger
If the post-Zozobra haze has left you a bit too tired/impatient for all the news analysis out there, here's a basic breakdown of Obama's jobs plan.
Key features include a hefty payroll tax cut for 98 percent of businesses; unemployment reform, including workforce training programs; and "helping more Americans refinance their mortgages at today's historically low interest rates."
From the White House:
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This is nothing new and it hasn't worked before. Temporary tax cuts are tinkering around the edges of the problems with the Code, not solving anything nor encouraging businesses to risk capital. Infrastructure spending and paying for teachers, firemen and other government personnel are union payoffs. The dues funded by taxpayer money fund contributions to Democrat campaign funds or assistance in-kind. Think of this as Obama's commission for the favor.
Obama himself banned non-union contractors from bidding on federal funded construction, leaving 87% of the US construction workforce out of it. Other regulations function to ensure the cost of every task is as high as it possibly can be. Ergo, less gets done for every dollar spent.
The Dow is down 350, and Republicans forwent a rebuttal. Sounds like an appropriate response to nothing new but more spending and tinkering, all that Obama knows how to do.