White House Screwing Up The Job Stimulus Bill

Discussion in 'Current Events' started by JimofPennsylvan, Jan 30, 2010.

  1. JimofPennsylvan
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    JimofPennsylvan VIP Member

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    The White House should be able to relatively easily get a job stimulus bill passed but they are blowing it big time with this tax credit for employers for wage increases for their employees! America doesn't have the money for this job stimulus bill to begin with but it has no choice but to pass one because unemployments at around ten percent and she can't let these five plus million of Americans continue to struggle wthout the necessity of a job. Why the hell are the Democrats doing this? If a provision in this stimulus bill doesn't have an unquestionable connection to creating jobs, it shouldn't be in the bill. Any argument that if you increase wages of American workers they will spend that money on a good or service which will create a job to produce that good or service requires too many assumptions it is just like the Republicans trickle down economics which has been proven to not work because there is not enough trickling down.



    The Democrats can readily get a helpful bill passed here. The tax credit for employers creating jobs and accelerated depreciation for capital investments are slam dunks. Eliminating the capital gains tax for small businesses could also probably readily pass even though it will be extremely costly and result in mostly people just evading taxes and little job creation. Some reputable organizations should do a study to determine if this capital gains tax revision goes through how much lost tax revenue will befall America just from Small business owners selling their ownership interest and from tax shelter investments that don't create any jobs - after seeing these figures I bet ordinary Americans will think this capital gain tax idea is a bad idea!



    If the Democrats want to do some real good for job stimulus in this bill and want to risk a fight why don't they add a provision to change the bankruptcy code for four years to allow bankruptcy judges to reduce the amount of home loans to the current market value of the home involved. This would save many homes from foreclosure and address an utmost serious problem America has which is that the new home construction industry looks bleak for the next three to five years because of the glut of foreclosed or to be foreclosed homes that are and will be flooding the U.S. housing market. New home construction is a big jobs engine for America, America's leaders are dropping the ball on the issues involving this industry. Further, this job stimulus bill should extend the $8000.00 tax credit for first time home buyers for fourteen moneys not the $6500 tax credit for home buyer that have been in their current home for five years (people in Washington the idea is to reduce the inventory of homes for sale not increase it); with eligibilty for the $8000 tax credit it should be individuals making less than $ 100,000 per year and couples making less than $150,000 - the idea is too help people buy homes that are struggling to afford it not help people that can clearly afford to buy a home!
     
  2. beowolfe
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    beowolfe Senior Member

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    If you're correct, it is a perfect example of why the GOP needs to fully engage rather than stand outside throwing rock. The Dems are not, have never, and will never be fully unified on anything. That's the nature of the Democratic party. IF the GOP can deliver some votes for the bill, their price can be the removal of this provision.
     

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