And So I Go: Yesterday, Today and Tomorrow

>>Why the new bi-partison Jobs Bill can’t work. Why can’t the politicians get it?

Posted on: February 13, 2010

» Repeat After Me: Tax Credit for Employers is a Dumb Idea When These Guys Have No Customers – Big Government

The President and our

Congress just continue to dig the hole deeper and deeper and in the wrong place at that. Insanity!

digging

Last night on FOXNEWS business a small business owner was interviewed who was so frustrated by the politicians obtuseness.  Before coming on the program he explained that he had to drop his sixth grader son off at a friends and his son asked him what he was going to tell the people in the tv interview.  His son got the message so he wondered why it was so hard for the government to get the message.

This man  wasn’t the first I have seen interviewed and they all had the same message: the President and congress are all wet!  They don’t understand that it is these same spending policies like the $5000 credit that is keeping banks from giving the credit to small businesses NOW so they can be assured of meeting their pay roll and other obligations that WILL CREATE NEW JOBS AND NEW HIRING AND NEW MARKETS FOR THEIR PRODUCTS!  Until Congress stops spending and starts making cuts and show a stabilizing economic outlook then  the banks are not lending.  They have funds to lend, but until they are confident they have the opportunity for the small business owners to make a profit and repay the loan they are hoarding their funds.  It’s as simple as that and both parties, Republicans and Democrats, are totally blind to this common sense truth.

Repeat After Me: Tax Credit for Employers is a Dumb Idea When These Guys Have No Customers

by Veronique de Rugy

of Big Government Blog

Still no one seems to wonder, why would employers pay a new worker $40,000 to earn a $5,000 credit unless that worker generates at least $35,000 of revenue? Even when the advice comes from economists at the National Federation of Independent Businesses, the largest association of small business owners in the country, it is ignored by the President and Congress.

If Obama wants to help small businesses he should stop pretending to give with one hand while stealing big time from the other hand. What do I mean? Well, he gives useless tax credits on the one hand but is proposing big tax increases for those earning more than $250,000 a year on the other, including all the small business owners that report their business income as individual income. These guys aren’t going to take loans and invest in their businesses and hire new employees if they are going to be hammered with tax the following year.

And in case you haven’t noticed this big jobs bill loaded with a whole lot of pork and other spending passed in the Senate on a bi-partisan vote at $85 Billion.  Speaker of the House Harry Reid for some unknown reason automatically cut a lot out to bring it to $15 Billion.  The House Jobs bill is $150 BILLION with even more pork and unrelated spending.  These two are then to be reconciled and voted on again.    It is nothing more than a spending bill called a Jobs bill and it is just digging the hole deeper.

Might also mention that some are calling for the Senate to return to a simple majority vote rather than the 60 required to filibuster now that the Republicans have the 60 votes.  Sen. Reid explained that a super majority of 67 votes was needed to change the Senate rules and this is not likely to happen.  BUT, there is still that so-called Nuclear Option where a bill can be passed on 51 votes.    Using this Nuclear Option will be a bad, bad move on the part of the Democrats.

You know,  two actions by Congress could get things going big time:  Stop spending and just take a holiday right after they open up  to off-shore drilling.   There would be so many jobs created that the boom would be heard around the world.   So why doesn’t Congress do it?  Those of you who watched Glenn Beck Friday may have the answer:  it’s because of the countries to whom we are indebted.  They don’t want us oil independent; especially  the Middle Eastern countries who are selling us so much oil and who hold much of our debt.  Well,  you know the old saying: He who pays the bills calls the tune.  These countries who are holding our Treasury Notes in the hundreds of BILLIONS are now paying our debts because we don’t have the money to pay our own debts.  In fact, we are borrowing from China just to pay China the interest on our debt to them.  BB

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