Thursday, September 15, 2011

Obama jobs bill: thumbs up, thumbs down?

The president is asking Congress to cut the payroll tax in half for 98 percent of businesses; give businesses a complete payroll tax holiday for added workers or increased wages.  He is proposing reforms and regulatory reductions to give small businesses and entrepreneurs access to capital; provide a $4,000 tax credit to employers to hire the long-term unemployed; and what he is calling a “Returning Heroes” hiring tax credits from $5,600 to $9,600 to encourage the hiring of unemployed veterans.


President Barack Obama said these and other elements in his plan are needed to stimulate the economy.  What do you think?  Should he be doing something else, or will these help grow our nation’s economy?

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Comment by Bob Fedus | Friday, September 16, 2011, 11:22
We should try to keep jobs in this country. Called on my sons Sally Mae student loan and was transferred to the Phillipines. Wonder why we have no jobs in this country?? I don't.
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Comment by John C Parker | Friday, September 16, 2011, 11:23
As a general statement - the government can not create jobs, other than public positions.

Incentives may or may not cause organizations to hire - often do not. What will work is eliminating the many many federal regulations, which hamper hiring. One big example is the significant burden plus uncertainty for employers coming from health reform.
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Comment by Dennis R Peoples | Friday, September 16, 2011, 17:12
We tried all these Keynesian ideas and they didn't work. How about making America a place where employers want to open businesses. That means a tax code competitive globally and call off the government bureaucrats that want to put roadblocks in the way of business growth. Aren’t we a nation based on capitalism?
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Comment by Michael Telesca | Friday, September 16, 2011, 23:47
Yes-cutting payroll taxes to working people will help create demand for goods and services by giving working people more money to spend. All businesses need increased demand before they can add on new employees. That's where new jobs come from- increased demand!

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