I guess the 1st Stimulus bill of 787 billion, the one they did not read before they voted for it, passed last Feb, has officially been declared a failure.
I could have told them that, because I read it. It was and remains nothing more than a slush fund for states to dip into when they get in trouble, it was a liberal wish list that was stuck in a drawer for 20years, brought out, dusted off and passed in record time. It was promised to keep unemployment below 8%, we are at 10% now and growing. Written in this bill was millions of dollars for failed AIG exects thanks to Chris Dodd. It will go down as the biggest fraud and waste of taxpayer money in this century beating out Berney Madeoff for fraud.
Now they are attempting to give tax credits for business's to hire. What they don't realize is that business hires ONLY because of DEMAND for their products and services. If there is NO DEMAND they DO NOT HIRE. Jimmy Carter tried this before, and we had business's firing one day only to hire the same person back the next in order to get the tax credit. It did not work then, it won't work now.
Senate Democrats unveil job-creation package - latimes.com
The Democratic jobs plan initially will involve extending a tax incentive to employers to reward them for hiring new workers. The details of the credit are expected to be finalized in the coming days by Sen. Max Baucus, chairman of the Senate Finance Committee, but a bipartisan proposal offered by Schumer and Sen. Orrin Hatch (R- Utah) is under consideration.
The Schumer-Hatch plan would refund the 6.2% share of the Social Security payroll tax to companies of any size that hire workers this year.
While Reid said Thursday that he hoped to have a vote on a tax-credit bill as early as next week, it remained unclear whether the measure would draw significant GOP support.
"It appears to me that on a jobs program, they want to work with us," Reid said.
Details of the full Democratic plan remained vague, however, and Senate leaders refused to say how much the overall program might cost. But components of the agenda are likely to include some tax relief and loan assistance for small businesses, increased investment in highway infrastructure projects, a bond program to help state and local governments borrow money and another extension of unemployment insurance and COBRA benefits.
I could have told them that, because I read it. It was and remains nothing more than a slush fund for states to dip into when they get in trouble, it was a liberal wish list that was stuck in a drawer for 20years, brought out, dusted off and passed in record time. It was promised to keep unemployment below 8%, we are at 10% now and growing. Written in this bill was millions of dollars for failed AIG exects thanks to Chris Dodd. It will go down as the biggest fraud and waste of taxpayer money in this century beating out Berney Madeoff for fraud.Now they are attempting to give tax credits for business's to hire. What they don't realize is that business hires ONLY because of DEMAND for their products and services. If there is NO DEMAND they DO NOT HIRE. Jimmy Carter tried this before, and we had business's firing one day only to hire the same person back the next in order to get the tax credit. It did not work then, it won't work now.
Senate Democrats unveil job-creation package - latimes.com
The Democratic jobs plan initially will involve extending a tax incentive to employers to reward them for hiring new workers. The details of the credit are expected to be finalized in the coming days by Sen. Max Baucus, chairman of the Senate Finance Committee, but a bipartisan proposal offered by Schumer and Sen. Orrin Hatch (R- Utah) is under consideration.
The Schumer-Hatch plan would refund the 6.2% share of the Social Security payroll tax to companies of any size that hire workers this year.
While Reid said Thursday that he hoped to have a vote on a tax-credit bill as early as next week, it remained unclear whether the measure would draw significant GOP support.
"It appears to me that on a jobs program, they want to work with us," Reid said.
Details of the full Democratic plan remained vague, however, and Senate leaders refused to say how much the overall program might cost. But components of the agenda are likely to include some tax relief and loan assistance for small businesses, increased investment in highway infrastructure projects, a bond program to help state and local governments borrow money and another extension of unemployment insurance and COBRA benefits.
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