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Payroll tax cuts for workers. Obama wants to extend and expand this tax cut, which is set to expire in December. It would put an extra $1,500 in the pockets of the typical household earning $50,000, the White House says. Failing to extend the tax break would, in effect, be a tax hike on most Americans, Obama argues. The overall cost is $175 billion.
Business tax cuts. Obama would give a partial payroll tax cut to all employers, with the benefits targeted especially toward small businesses, for next year. He also proposes a complete payroll tax holiday for new jobs or wage increases. The overall cost: $65 billion.
"100 percent expensing." This $5 billion proposal would be a one-year spur for businesses to make investments, by allowing them to quickly deduct the full value of spending on facilities or equipment.
Aid to states. Obama would devote $35 billion to aid designed to prevent layoffs at schools, police stations, and fire departments where local governments face budget shortfalls.
Infrastructure spending. The bill includes $50 billion for repairing highways, airports, and urban transit systems. About $4 billion of the money would go toward high-speed rail.
A National Infrastructure Bank. This $10 billion effort would offer loans up to no more than half a project's cost to spur additional investments in transport, water, or energy systems. The money would partner with state or local government and private dollars.
Public school modernization. Some $30 billion would go toward everything from repair and renovation to computer labs, with 40 percent of the funds "directed toward the 100 largest high-need public school districts," the White House says.
By 45% to 32%, more Americans want their member of Congress to vote for rather than against a jobs bill similar to the one President Obama proposed last week, with the rest having no opinion.
You consider families making $250K per year "Super Rich"?
compared to the vast majority of under or unemployed middle class, yes.
$250K is anything but "Super Rich"...
Thanks for proving the Kool Aid still works...
Texas has by far the largest number of employees working at or below the federal minimum wage ($7.25 per hour in 2010) compared to any state
Texas tied with Mississippi for the greatest percentage of minimum wage workers. From 2007 to 2010, the number of minimum wage workers in Texas rose from 221,000 to 550,000, an increase of nearly 150 percent.
What's in his plan?
Tax cuts
Payroll tax cuts for workers. Obama wants to extend and expand this tax cut, which is set to expire in December. It would put an extra $1,500 in the pockets of the typical household earning $50,000, the White House says. Failing to extend the tax break would, in effect, be a tax hike on most Americans, Obama argues. The overall cost is $175 billion.
Business tax cuts. Obama would give a partial payroll tax cut to all employers, with the benefits targeted especially toward small businesses, for next year. He also proposes a complete payroll tax holiday for new jobs or wage increases. The overall cost: $65 billion.
"100 percent expensing." This $5 billion proposal would be a one-year spur for businesses to make investments, by allowing them to quickly deduct the full value of spending on facilities or equipment.
Investments and aid to states
Aid to states. Obama would devote $35 billion to aid designed to prevent layoffs at schools, police stations, and fire departments where local governments face budget shortfalls.
Infrastructure spending. The bill includes $50 billion for repairing highways, airports, and urban transit systems. About $4 billion of the money would go toward high-speed rail.
A National Infrastructure Bank. This $10 billion effort would offer loans up to no more than half a project's cost to spur additional investments in transport, water, or energy systems. The money would partner with state or local government and private dollars.
Public school modernization. Some $30 billion would go toward everything from repair and renovation to computer labs, with 40 percent of the funds "directed toward the 100 largest high-need public school districts," the White House says.
What's in Obama's jobs bill? | Alaska Dispatch
How's it being received????
By 45% to 32%, more Americans want their member of Congress to vote for rather than against a jobs bill similar to the one President Obama proposed last week, with the rest having no opinion.
Americans Favor Obama Jobs Plan by 45% to 32%
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Obama's proposal would reduce payroll taxes on workers, cut them in half for most businesses and offer incentives for employers to hire. It would spend tens of billions of dollars on new public works projects, extend unemployment benefits for long-term jobless and help states and localities avoid layoffs of teachers and emergency workers.
CBO chief Doug Elmendorf's testimony to the joint deficit Super Committee:
"If policymakers want to achieve both a short-term economic boost and long-term fiscal sustainability the combination of policies that would be most effective according to our analysis would be changes in taxes and spending that would widen the deficit today, but narrow it in the coming decade. The combination of fiscal policies that would be most effective would be policies that cut taxes or increase spending in the near-term, but over the medium and longer-term move in the opposite direction."
And guess what? That is what the President's Job Plan does.
As for jobs estimates, here's what Moody's had to say:
CBO chief Doug Elmendorf's testimony to the joint deficit Super Committee:
"If policymakers want to achieve both a short-term economic boost and long-term fiscal sustainability the combination of policies that would be most effective according to our analysis would be changes in taxes and spending that would widen the deficit today, but narrow it in the coming decade. The combination of fiscal policies that would be most effective would be policies that cut taxes or increase spending in the near-term, but over the medium and longer-term move in the opposite direction."
And guess what? That is what the President's Job Plan does.
As for jobs estimates, here's what Moody's had to say:
First offr, Elmendorf is not endorsing Obama's plan.
Secondly, Obama's plan is simply a remake of his first stimulus. That stimulus was a failure. The Left claims it was a failure because it didnt spend enough. This plan spends half of what the one that failed because it didnt spend enough spends.
Are you stuck on stupid?
CBO chief Doug Elmendorf's testimony to the joint deficit Super Committee:
"If policymakers want to achieve both a short-term economic boost and long-term fiscal sustainability the combination of policies that would be most effective according to our analysis would be changes in taxes and spending that would widen the deficit today, but narrow it in the coming decade. The combination of fiscal policies that would be most effective would be policies that cut taxes or increase spending in the near-term, but over the medium and longer-term move in the opposite direction."
And guess what? That is what the President's Job Plan does.
As for jobs estimates, here's what Moody's had to say:
First offr, Elmendorf is not endorsing Obama's plan.
Secondly, Obama's plan is simply a remake of his first stimulus. That stimulus was a failure. The Left claims it was a failure because it didnt spend enough. This plan spends half of what the one that failed because it didnt spend enough spends.
Are you stuck on stupid?
Where did I say that the CBO chief WAS endorsing the President's plan, imbecile. What he did was testify as to what needs to be done to get our economy jump started. What he described was President Obama's jobs plan.
The original stimulus wasn't enough. This too, isn't enough, but when you are starving and someone offers bread, you don't turn it down in hope of getting lobster.
Apparently, you missed the first heap of shit $780+ stimulus bill....That's your problem...In case you hadn't noticed, it was a towering failure.
The current steaming heap is all the same old crap wrapped around some new toilet paper.
If you're convinced that new upholstery on the deck chairs of the Titanic are all it takes to keep the ship from sinking, then you're even dumber than I thought...Which was already on a par with a bag of hammers.
Not really. But hey.. You are the kind of person to insist that steak tastes like shit if it's served from a democrat so... Your opinion must be considered as what it is: partisan tripe.
After all, you'd bitch about trying to plug the hole in the boat if you couldn't offset the price of materials with WIC funds and FEMA appropriations.
Translation: When you have nothing deflect.
If he's talking about 780 billion, Shogun...he's talking about the first stimulus...which would be in the past tense. Since the stimulus now being debated is in essence just more of something that didn't work before...then why should we think it will work this time?
Your insistence that it didn't work is akin to blaming seat belts for running into a tree. It would have NEVER worked for you people no matter how much worse the economy would have become without it because you seem to think keeping the bar just beyond reach amounts to a failure on Obama's part. Sorry to break your heart but the tea party talking points just don't resonate with hungry, unemployed Americans.
yeah....it's worked out so well for the taxpayers
The Obama administration's US $38-billion green energy loan plan-part of the first stimulus program-promised 65,000 jobs. So far, it has delivered 3,545 jobs at a cost of US$5-million a job. Major firms are going bankrupt.
How to enlighten Penelope on green jobs
Drink some more of your orange Kool-Aid
You consider families making $250K per year "Super Rich"?
compared to the vast majority of under or unemployed middle class, yes.
$250K is anything but "Super Rich"...
Thanks for proving the Kool Aid still works...
250K/yr is pretty darn rich around here.
The "meat" is to raise taxes on all the usual suspects.Would someone who is kindly disposed to Obama's plan and good with details please explain what kind of (and numbers of) jobs Obama's bill is supposed to create?
The claim that it will create jobs is merely a ruse to get the gullible to buy into the feds flushing anther 1/2 trillion bucks down the bureaucratic toilet.
Your insistence that it didn't work is akin to blaming seat belts for running into a tree. It would have NEVER worked for you people no matter how much worse the economy would have become without it because you seem to think keeping the bar just beyond reach amounts to a failure on Obama's part. Sorry to break your heart but the tea party talking points just don't resonate with hungry, unemployed Americans.
yeah....it's worked out so well for the taxpayers
The Obama administration's US $38-billion green energy loan plan-part of the first stimulus program-promised 65,000 jobs. So far, it has delivered 3,545 jobs at a cost of US$5-million a job. Major firms are going bankrupt.
How to enlighten Penelope on green jobs
Drink some more of your orange Kool-Aid
Again, your kind would scream at a band-aid placed on a bullet wound.
Maybe you should vote for another war and crash the economy again... You know, then you can blame a Democrat for not working miracles in stopping a bleeding hemorrhage!
fucking fool.
national post? nice.
First offr, Elmendorf is not endorsing Obama's plan.
Secondly, Obama's plan is simply a remake of his first stimulus. That stimulus was a failure. The Left claims it was a failure because it didnt spend enough. This plan spends half of what the one that failed because it didnt spend enough spends.
Are you stuck on stupid?
Where did I say that the CBO chief WAS endorsing the President's plan, imbecile. What he did was testify as to what needs to be done to get our economy jump started. What he described was President Obama's jobs plan.
The original stimulus wasn't enough. This too, isn't enough, but when you are starving and someone offers bread, you don't turn it down in hope of getting lobster.
OK so you admit that this plan will fail as the first one did. Glad we cleared that up.
Why would anyone vote for this piece of shit if even its supporters admit it will fail?
The MEAT in Obama's Jobs Bill is Pure Bologna.
BTW there is bi-partisan support AGAINST IT. There are some things in this bill that both democrats and republicans LIKE--but Obama has already stated he won't sign it--unless he gets it all.
The "meat" is to raise taxes on all the usual suspects.Would someone who is kindly disposed to Obama's plan and good with details please explain what kind of (and numbers of) jobs Obama's bill is supposed to create?
The claim that it will create jobs is merely a ruse to get the gullible to buy into the feds flushing anther 1/2 trillion bucks down the bureaucratic toilet.
just another scam and union payback scheem just like the last stimulus program. Hell we don't even know where all the money went, who got it and if any jobs were created. Obama and this administration is the worst and most corupt administration and presidency in the history of the United States. Why are we not hearing more about the green energy solar panel company that lost 535 million dollars scandle. I bet this is just the tip of the iceburg.
