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SENTRY JOURNAL » Congress, Jobs Bill, Keynesian, Social Security tax, Washington » A Jobs Bill That Won’t Create Many Jobs…Brilliant!

A Jobs Bill That Won’t Create Many Jobs…Brilliant!

Well the brain trust in Washington is at it again.  They want to pass an $80 billion jobs bill that won’t create many jobs.  Yes that’s right, a jobs bill that won’t create many jobs.  Oh but it get so much better.  These Keynesians from both parties will provide tax incentives for businesses that hire unemployed people that have been unemployed for at least 60 days.  This tax break will exempt businesses from paying 6.2 percent of Social Security tax on wages for new employees for one whole year.  Wow, that should get the economy rolling again.  I can just see all the jobs being created with little or no demand.  Hmmm, how’s that going to work?

I know maybe the government can hire extras to go out into the free market system and place an artificial demand on the system with taxpayer dollars.  We’ll run this program for one year and call it “dollars for demand.”  Then once the demand increases, businesses will be able to take advantage of that 6.2 percent savings on not paying Social Security tax and hire new workers to meet the demand illusion created by the government.  That’s absolutely brilliant!  I actually feel dumber for reading their plan.

I’m telling you, the people we have in Washington coming up with these moronic plans wouldn’t even make the second team in the real world.  Can you imagine Nancy Pelosi or Harry Reid trying to start a small business?  They would be chewed up, spit out and then chewed up some more.  Their business plan would consist of a great deal of taxpayer money and lots of workers with no demand.  I give them six months at best.  These out of touch politicians who embrace the Keynesian model because it looks good on paper haven’t clue.  They surround themselves with less than competent economic advisors that fill their heads with this Keynesian crap and then push this garbage on us with our taxpayer dollars.  I wonder if they would be pushing as hard if the money came from their pockets.  Probably because they’re so dense they really believe in the snake oil their peddling.

I know, always with the negative thinking.  Well let me throw just a few positive thoughts at you that have worked in the past.  Let’s start with the capital gains tax; cut it drastically.  Create an environment that companies will thrive in.  Allow them to see that the United States is a corporate friendly nation.  Second, extend the Bush tax cuts for another two years.  Call me crazy, but people might be willing to spend a little more if they have more disposable income to spend.  This might actually spark demand again.  Third, get spending under control.  The debt is killing this nation.  The more we spend the weaker we become on a micro/macro level.  And finally get out of the free market.  Stop trying to impose regulation after regulation in the name of too big to fail.  This unpredictability hampers the growth of business because it makes it difficult to strategically plan for the future.  And when things are unpredictable, you usually batten down the hatches and freeze all hiring.  Let the free market be the free market and weed out the inept.

If our economic wizards in Washington would do these four simple things, you would be surprised how the free market would react.  How do I know?  Because it has been done in the past with successful results.  Extending unemployment benefits in this bill only makes us more dependent on an entity that has no wealth creating capacity.  It’s a demotivational factor that stifles our creative energy and overall makes us weaker as individuals.

And if we become weaker as individuals, America becomes weaker as a whole.



Filed under: Congress, Jobs Bill, Keynesian, Social Security tax, Washington

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  • LD Jackson February 11, 2010 at 5:51 AM

    I think the main reason they continue with this cycle that will not create jobs is this. The people who are now in power in Washington see corporate America and the businesses of America as evil. They do not see the good they can and do accomplish by supplying goods and services to the American people. They do not see the jobs that can and do come from that activity. All they can think about is punishing them for having "so much money". Until they change that outlook, they will not change their methods of "creating jobs".

  • John Carey February 11, 2010 at 6:00 AM

    Thanks for the comments LD.

    You make an excellent point. We have people in power that are very much against corporate America. Deep down they feel that companies cannot be trusted so they must be controlled. They can't come across as completely ant-corporation because a majority of the American people don't buy into that concept. So they talk out of both sides of their mouth and pass bills that slowly diminishing the wealth creating capacity of the private sector. More cheese please.

  • LD Jackson February 11, 2010 at 6:05 AM

    Very true, John. The thing that troubles me is how many people I see and hear every day who buy into this nonsense that breeds ill will towards businesses. If that attitude doesn't change, it does not bode well for the future of our country.

  • WhitU4ever February 11, 2010 at 7:50 AM

    We need jobs! The left has no idea what that means or how to make that happen. And you are absolutely right. Suddenly big business is evil in their eyes. Sure, there are some Enrons out there, but even those guys have done their time in jail and repented and founded an organization that investigates and reports business fraud. Listen to yesterday's Hugh Hewitt radio broadcast to hear the story.

  • WomanHonorThyself February 11, 2010 at 10:28 AM

    as long as they can expand govt they do not care!

  • Ron Russell February 11, 2010 at 6:42 PM

    Communist China, some years back trashed Keynesian economics and gave free reign to capitalism—look at what happened! While during the same period we were moving increasingly toward a regulated economy—something that has never worked anywhere at anytime. Another jobs bill, hell the last one didn't work. Fool me once shame on you, fool me twice shame on me—nope, I'm not buying this!

  • John Carey February 11, 2010 at 9:46 PM

    Thanks for the comments Ron,

    It funny you brought up China. I listened to a story this morning on the radio how they have embraced free market principles and are actually more capitalistic than us. And look at the results.

  • Scott Afeld February 12, 2010 at 2:12 PM

    If we can ever get back to a country of "I can" instead of "I need" or "You owe me" sense of mentality we will all be in better shape. What has happened to the sense of pride of being a man and providing for his family instead of sponging of another government run program? Increase taxes on imported goods, eliminate taxes on goods 100% American. More American jobs, healthier economy, and all of a sudden we have that long lost sense of self worth.

    Just one cowboy's opinion.

  • John Carey February 12, 2010 at 7:39 PM

    Thanks for the comments Scott.

    I agree we need to get back to a country where individuals are self-sufficient and can do on their own instead of depending on the government for cheese.