Never has Obama insulted the American people's intelligence more than with the crap he called a 'Jobs Plan'.
Obama's speech should have provided solutions to the question, 'Why aren't American companies hiring(creating jobs)?' These solutions should correct or improve the following issues:
1. The US economy under Obama's leadership is not growing and therefore not creating the need for businesses to add additional employees.
2. Obamacare has created an environment of uncertainty throughout the business world not knowing what their increased costs will be, what new taxes they will have to pay, and what mandates are coming down and when.
3. Government regulations have created an unnecessary shortage of energy resulting in inflationary costs across the board (food, supplies, raw materials, transportation, etc.). The green energy give aways are scams. Government should leave energy inovation to the private sector.
4. Obama, in the name of fairness, has constantly threatened to raise taxes on small business owners from their current rate of 35% as he calls them greedy rich people not paying their fair share. This creates more uncertainty among small business owners. This same is true for corporations who pay higher taxes than most foreign competitors.
5. All companies are choking on government regulations as the Obama administration has set historic records in passing regulations to control and stifle business. The annual costs of regulations to businesses in now in the Trillions.
6. All tax payers from large companies to individuals have been threatened by Obama that they will lose their 'tax loopholes' which is another way of raising taxes and reducing a company or individuals ability to invest and expand. Big oil companies who are completely over-taxed and over-regulated in both exploration and production are prime targets for Obama's threats. Homeowners are afraid they will lose their mortgage rate deductions. Eliminating the charitable giving 'tax loophole' would destroy local and national charities leaving only the government to make the needy even more dependent on tax payers.
7. Lastly our tax structure is a complete mess. Taxes need to be lowered and the system needs reform from top to bottom.
So what were Obama's answers to these issues last night?
The biggest element in Obama's plan calls for increasing and extending a payroll tax cut for workers that goes to Social Security, while providing the tax cut to employers, too. For workers, the tax that has been cut from 6.2 percent to 4.2 percent for this year would fall to 3.1 percent under Obama's plan -- a $175 billion cost. The tax will go back up to 6.2 percent by the end of the year. For this year this is an additional cut of 1.1%. With the issues facing business people today, who would go out and hire anyone because they will receive a tax credit this year that is an average of $440 for an employee that makes $40,000 that they will turnaround and lose next year? Not to mention that Social Security is the last place that we need to be robbing AGAIN.
Next there are incentives (tax credits) to hire workers who have been on unemployment for longer than 6 months, for hiring veterans, and for hiring disadvantaged youths for summer jobs. Does anyone believe that business people would forget all of the Obama uncertainties because they would receive a temporary tax credit? Would they hire one additional person that they would not hire anyway? Uncertainty is eliminated by taking PERMANENT ACTIONS THAT AMERICANS CAN RELY ON. Adding temporary government hoops for business people to jump through only adds uncertainty.
The icing on the cake is to extend unemployment for 12 more months paying people not to work and calling it job creation while taking federal money, that we don't have, to hire teachers after local governments have trimmed unnecessary positions with the sole purpose of buying teacher union votes.
And then of course Obama is once again going to build bridges, tunnels, schools, highways, and anything else that would support his union campaign contributors AGAIN. This is just more 'shovel ready shit' that spends tons of tax payer money and never amounts to anything. Schools, highways, and bridges should be managed LOCALLY to avoid as much corruption and waste as is possible.
And then Obama closes with the greatest LIE ever. All of this will be paid for! Do the folks understand by now that when Obama spends money he does it NOW. When he cuts government spending he does it over 10 to 12 years, BACK END LOADED. So in this case he will spend $450 Billion NOW. He will add this to the $1.5 Trillion that he promised to cut to get his $2.5 Trillion debt ceiling raised and ask his committee to make the cuts over 10 years. He doesn't want to make them too quickly because it might hurt his recovery. Recovery my ass!
One last farce. Miss Michelle sits by the CEO from GE, Jeffrey Immelt, who pays no taxes and moves operations to China. Obama again references Warren Buffett who is begging for tax increases on the wealthy because his secretary pays a higher tax rate than Warren. Facts: Warren takes money from his operations in stock not income. Therefore he pays the 15% capital gains tax not the income tax that he wants to raise on small business owners. Also, Warren is a multi-billionaire who needs no income. He is pledged to give much of his wealth to Bill Gates foundations to avoid inheritance taxes. Buffet, like, GE will pay little to no taxes. Of all of Obama's horseshit nothing smells more than this. Buffet should be ashamed and the GE CEO, Immelt, should have no association with government officials.
So what will happen as a result of the jobs speech to congress. NOTHING!!! Very little of this will pass and what does pass will have no effect of job creation. Meanwhile Obama will say if the Tea Party would have passed his jobs bill we would be in recovery by November, 2012. Obama is plagued by a do nothing congress. Put him and the Socialist back in control in 2012 and everything will be OK, AGAIN.
I hope every reader of this posting is sufficiently INSULTED.
Think about it,