Obama Urges Congress to Pass $450 Billion Jobs Plan 'Right Away'
Seeking to boost a slumping economy along with his hopes for re-election, President Obama on Thursday night implored Congress to pass a $450 billion jobs plan that he says will give an array of tax cuts to small businesses that hire while reforming the corporate tax code and investing in infrastructure projects.
In a highly-anticipated speech to a joint session of Congress, Obama repeatedly called on lawmakers to pass his plan "right away," saying "there should be nothing controversial" about the American Jobs Act. Obama said all the proposals are paid for with spending cuts although he won't detail them until next week.
Obama also called on Congress to "stop the political circus and actually do something to help the economy."...
Mike, I don't think that's a realistic scenario - almost half of US households pay no Fed. income tax because they earn too little & qualify for credits. This is why lobbying for tax cuts gets a big yawn from the "not my problem" crowd.
You do have a point concerning local property taxes, however.
Neil wrote: We Westerners are simply too expensive (min. wage laws, benefits, etc.), that is the gist of the problem. Until we are humbly willing to work for peanuts w/o all the benes, jobs will continue to fly away. Americans & Europeans have no God-given right to high pay; who of whatever political stripe will admit this? The American post-WW2 lifestyle, in particular, was a luxury we enjoyed while Europe was recovering, China was in thrall to Mao's lunacy, & India had yet to discover the global market economy. ---
I wouldn't mind being paid hundreds a year, but then I wouldn't be able to pay the thousands in taxes demanded of me for every conceivable governmental invention designed to "help" me.
We Westerners are simply too expensive (min. wage laws, benefits, etc.), that is the gist of the problem. Until we are humbly willing to work for peanuts w/o all the benes, jobs will continue to fly away.
Americans & Europeans have no God-given right to high pay; who of whatever political stripe will admit this? The American post-WW2 lifestyle, in particular, was a luxury we enjoyed while Europe was recovering, China was in thrall to Mao's lunacy, & India had yet to discover the global market economy.
BTW, Mao was right to label Deng Xiaoping a "Capitalist Roader." Why he wasn't arrested on trumped up charges & executed, as Stalin would've done, is a mystery to me.
Exploiting more of our own natural resources would certainly create more jobs, as graphically stated on the sign held by one congressman during Obama's speech, but points made by Mark and Scott below lead me to believe that some if not many of the jobs created this way could still be outsourced (i.e. clerical, accounting, and any other such position that does not require the employee to be actually on-site).
Every new infrastucture related job is short term and is paid for with tax dollars. As the government is already in debt this really helps no one. Obammy may say this program is paid for already. Let's give that to him and ask then what?. This is short term planning. I don't think they will be hiring unskilled labor for these projects either. Taxing the wealthy is the wrong way to go. There is nothing to stop these folks from leaving the country and taking their cash with them. I am poorer than a dirt farmer and I am able to go overseas and work tax-free. What would stop the very wealthy from doing so? If I were in their position I would have left three years ago.
After two decades of sending jobs overseas as quickly as possible, now we have chronic unemployment. The speech did not directly address the underlying problem.
What's interesting is connecting the dots. The President called for increased taxes on corporations and the wealthy, and then wanted to extend unemployment benefits. We're perhaps closer to admitting there is a permanent underclass of people age 50+ who will probably never work again. Corporations which send jobs overseas are going to have to permanently subsidize the unemployment benefits for these people until they reach retirement age and qualify for social security.
I see little in the speech about the long-term growth of middle-class jobs. I have looked for several years, but have been unable to find any growth sectors for jobs besides health care and retail. Where will future jobs come from?