Wednesday, December 2, 2009

Leading suggestions at Obama's Job Summit so far.

Smart power!

Some of the leading ideas under discussion include:

offering a payroll tax holiday, which would temporarily suspend the 12.4% tax on workers' first $106,800 of wages;

creating a new jobs hiring credit;

giving more money to states and localities to close budget deficits. These
shortfalls could cost 900,000 jobs in 2010 alone, according to one think tank;

and offering public-service employment.



How about cutting the payroll taxes instead of temporarily suspending them which is stupid since you are not correcting the problem of high taxes. Then consider that since these taxes fund Social Security which needs fixing any drop would damage it further.

On the other hand that would get people off their butts to fix Social Security so there is that silver lining.

A new job hiring credit is useless because it again does not fix the problem that businesses of all sizes have with too much taxes on an already tightened business budget.

Giving more bailout money to the states to cover their budget shortfalls is like putting a band aid on a gaping wound that the states(American taxpayers) would be on the hook for to pay for the treatment later. States need to cut their budgets and get their finances under control from the out of control spending of the easy credit years.

As for the public service employment, you know that is a union idea that is to make more people dependent on taxpayers paying their salaries in jobs that have no defined purpose other than to boost numbers.

All in all, the job summit t is going to be what I thought it would be which is a bunch of leftist drool being paraded around as great ideas.

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