Mark Hemingway points out just how fast the White House caves these days.
Yesterday morning, David Axelrod went on television and declared the GOP must pass the President’s jobs plan totally. All or nothing or something like that.
By early mid-day, the White House began signaling it’d cut a deal with the GOP.
By last night David Weprin got annihilated in NY-09.
This morning, Bloomberg reports Americans think the plan is crap. 53% of Independents dislike the President’s jobs performance and a majority of Americans think the President’s jobs plan will not create jobs.
It is time for the GOP to pitch a clear alternative of deregulation, tax reform, capital gains cuts, and corporate tax cuts.
By a margin of 51 percent to 40 percent, Americans doubt the package of tax cuts and spending proposals intended to jumpstart job creation that Obama submitted to Congress this week will bring down the 9.1 percent jobless rate. That sentiment undermines one of the core arguments the president is making on the job act’s behalf in a nationwide campaign to build public support.
Oh, by the way, the Congressional Budget Office, which the Democrats have in the past few weeks insisted we take as gospel about everything, says the President’s jobs plan will not bring unemployment below 9%.
Jeff Emanuel
Neil Stevens
at this time, de regulation is really the most important thing.
kyle8 (Diary) Wednesday, September 14th at 8:58AM EDT (link)Tax rates are not all that high, but regulations of business is through the roof.
This is really hamstringing job creation because businesses do not know what new regulatory nightmare will come down the pike.
The energy regulations in particular will be like a gigantic tax on all business due to higher energy costs.
Compliance costs directly decrease employment. Some companies get by by having a number of employees below what they would really like, but the costs of hiring that one extra person is too high.
Finally, the Obama care regulations will cause business to have to cease offering insurance, so if they are on the fence right now, they certainly do not want to incur the extra cost of new employees.
“Nothing works like freedom, Nothing succeeds like liberty”
Kyle
But the table is set for tax reform...and the country craves it...
APA Guy (Diary) Wednesday, September 14th at 9:47AM EDT (link)I’m with you on regulation, but I disagree that tax rates are “not all that high”… and so does a vast majority of Americans.
The Bush tax cuts were only temporarily extended. Job creators know that after the 2012 election, their taxes will go up if congress doesn’t act. This is most likely why they aren’t hiring right now. Job creators and demand drivers are putting money back in anticipation of this looming reality.
According to this Rasmussen poll released on 8/15/11:
http://www.newsmax.com/Newsfront/rasmussen-poll-taxes-cut/2011/08/15/id/407409
…”62% of Americans believe that cutting taxes, and not increased government spending, is the best way to create jobs”.
NOW is the time for Republicans to tell Obama to stuff his “jobs plan” and demand PERMANENT substantive tax reform. We have the horses in the House to push the plan and enough support in the Senate to back Obama into a corner he can’t get out of.
We do need tax reform
Death_of_the_Donkey (Diary) Wednesday, September 14th at 10:09AM EDT (link)And it must include ending the special treatment of cap gains/dividends in favor of overall lower rates. Treating cap gains and dividend income at rates far lower than the top rate hinders “job creators” because it penalizes personal and business income in favor of investments that have no bearing on US job creation. Treat all income (and spending) equally at any given tax bracket and you will have a much more free market system that will lead to growth.
Only if the cuts in corporate income taxes are sufficient
JSobieski (Diary) Wednesday, September 14th at 10:20AM EDT (link)The latest Ryan plan calls for a corporate income tax rate of 25%.
The reason why cap gains/dividends are taxed at a different rate is because to do otherwise would tax investments at an extremely high rate when you factor in both the corporate and individual sides of the house.
25% corporate tax + 25% income tax means an aggregate tax rate of 50%. Taxing investment MORE than income makes no sense both in terms of fairness and in terms of job creation. It is easier for investment dollars to leave the country than it is for income dollars to leave the country.
I do agree with you that if corporate income tax could be reduced sufficiently (say 15% or preferably 10% or lower), what you propose is a good idea.
Did you know that China has been losing manufacturing jobs since 1995? For the specific data, see Table 1 in the following link: http://www.bls.gov/opub/mlr/2005/07/art2full.pdf
debatable
Death_of_the_Donkey (Diary) Wednesday, September 14th at 10:36AM EDT (link)that argument only holds for investments in companies that are entirely US based (in operations and employment). Otherwise the percentages change and the negative effect on new business formation is greater (in terms of competing for any individual investment decision). The problem now for the investor(ie potential job creator), is that he has to get a much larger rate of return on a business venture than he does on a stock investment in order to get the same after tax profit. This skews investments decisions away from business formation and job creation and into stocks/etc.
I would agree to the extent of making tax cuts permenant...
kyle8 (Diary) Wednesday, September 14th at 11:13AM EDT (link)temporary cuts do nothing. However, our taxes right at this moment are much lower than they have been in the recent past.
Also, anything done would have to be a change with a long shelf life. What I mean by that is simply that changing the tax codes and laws every few years, the way we have been doing it, has it’s own negative effect on economic growth.
That is because it increases uncertainty and makes planning more difficult. Business would gladly put up with a few extra percentage of taxes if they knew the damn thing would not change for a decade or so.
We need to resist using tax cuts as a magic talisman.
“Nothing works like freedom, Nothing succeeds like liberty”
Kyle
But the table is set for tax reform...and the country craves it...
APA Guy (Diary) Wednesday, September 14th at 9:47AM EDT (link)I’m with you on regulation, but I disagree that tax rates are “not all that high”… and so does a vast majority of Americans.
The Bush tax cuts were only temporarily extended. Job creators know that after the 2012 election, their taxes will go up if congress doesn’t act. This is most likely why they aren’t hiring right now. Job creators and demand drivers are putting money back in anticipation of this looming reality.
According to this Rasmussen poll released on 8/15/11:
http://www.newsmax.com/Newsfront/rasmussen-poll-taxes-cut/2011/08/15/id/407409
…”62% of Americans believe that cutting taxes, and not increased government spending, is the best way to create jobs”.
NOW is the time for Republicans to tell Obama to stuff his “jobs plan” and demand PERMANENT substantive tax reform. We have the horses in the House to push the plan and enough support in the Senate to back Obama into a corner he can’t get out of.
When Obama calls it a jobs bill
izoneguy (Diary) Wednesday, September 14th at 9:31AM EDT (link)He means a bill to save his JOB.
It’s another stimulus package and should be DOA.
Those who had once simpered: “I don’t want to destroy the rich, I only want to seize a little of their surplus to help the poor, just a little, they’ll never miss it!” – then, later, had snapped: “The tycoons can stand being squeezed; they’ve amassed enough to last them for three generations” – then, later, had yelled: “Why should the people suffer while businessmen have reserves to last a year?” – now were screaming: “Why should we starve while some people have reserves to last a week?” – Atlas Shrugged
The confusing thing is how can 40% support it
YnotNOW (Diary) Wednesday, September 14th at 8:01PM EDT (link)in spite of all of the evidence that Keyensian stimulus spending does not work. If that many people are willfully blind, then we have a problem.
YnotNOW
If not me, who? If not now, when?
stimulus bill revealed
repubnut Thursday, September 15th at 7:22AM EDT (link)When Obama said,” it’s an emergency- must be passed now ” —BE AWARE !!!… it’s a redistribution plot for him to spend MORE BORROWED money with higher TAX in the Future ……Obama should take notice ..( N.Y. & NEV.) he is NOW a revealed Socialist trying to destroyed our Country, His First step is trying to destroy Capitalism–TRUE DEMOCRATS SHOULD “STAY” as far away as possible from his agenda !!!
Thanks
kraig Wednesday, September 14th at 9:33AM EDT (link)Erick for the info. Will need some Grey Poop-on for that crap croissant.
Great
redpenny Thursday, September 15th at 4:54PM EDT (link)a little humor never hurts.
Don’t bother: the moderators tossed me out on my racist posterior already.
Odd
locomotivebreath1901 Wednesday, September 14th at 9:39AM EDT (link)“Majority Think Jobs Plan is Crap: Weak and Indecisive and Now Even More Dead on Arrival”
Odd. I don’t know why since the first $800 billion dollars shovel ready jobs stimulus that wasn’t quite shovel ready was such a resounding success.
Signature:
Caught a glimpse of Paul Ryan
lineholder (Diary) Wednesday, September 14th at 9:43AM EDT (link)on Greta’s show last night talking about different options such as closing tax loop holes that would be better choice to make in this context, but I didn’t get to watch the entire segment. Anyone got that info? Or something comparable perhaps?
Hard for Republicans to Pass this Jobs Bill Now!
miconservative Wednesday, September 14th at 9:46AM EDT (link)Since no Democrat has introduced the bill yet. Wonder why that is??
Best strategy is
steve010 (Diary) Wednesday, September 14th at 10:40AM EDT (link)for Boehner and Cantor to approach the no-Jobs bill is to continue to express a conciliatory tone to the executive and express that there are issues that can be agreed to. Then say, if the President wants an up or down vote on the entire package then we can do that, but it might be better for the Senate to go first because as it stands right now, there probably aren’t enough votes in the House for the package, but if the Senate passes the no-Jobs bill, we may be able to get the no-Jobs bill through the House. As you know, Mr. Reporter, the Senate is controlled by the President’s party the Democrats.
Boehner and co. know that the bill won’t even pass the democrat controlled Senate and Harry Reid won’t even bring it up for a vote because he doesn’t want to be embarrassed and doesn’t want the President to be embarrassed. But this is probably the best strategy to deflect the argument from the WH that the (R)’s are intransigent and the party of no. Give it to the (D)s to vote on first and then every time this comes up in the media, they can say that it wouldn’t even pass the Democrat controlled Senate, how could it be our fault?
Didn't you see what happened yesterday
lastgopinillinois (Diary) Thursday, September 15th at 5:55PM EDT (link)SEVERAL Senate democrats were OPPOSED to the bill. Harry Reid ANNOUNCED that he wasn’t in a hurry to bring the bill to the senate floor, Haha.
So, 0 bama is out in South Carolina chanting, “if you love me, tell them to pass this bill right now”, while his own chief supporter in the senate is sitting on the bill.
I think it is hilarious.
THAT should be prime time NEWS
In the beginning, God created earth to be an extension of his vast Kingdom and his LOVE was so great that he wanted to share it with man, whom he created in his own image and likeness and gave him free will.
To this very principal, the Founding Fathers of our nation decreed that freedom is a God-given in-alienable right of all the people.
Even more important
rememberthealamo Wednesday, September 14th at 10:03AM EDT (link)It’s a time to make sure the proposals brought forth by Boehner et al. are solid CONSERVATIVE ideas. All too often I see Republicans shoot themselves/us in the foot by letting Dems off the mat via “compromise”. If you have your boot on a rattlesnake’s head, don’t ease up.
Will O tune down the slime attacks?
johnt Wednesday, September 14th at 10:21AM EDT (link)Or will he and his band of mental dwarfs persist in the tactics of the sewer? For sure the media, the only place where the nuttiness equals O’s, will not backtrack. The NY House victory will hold their attention for at least ten minutes, the rest of the Dems are already reaching for the Tums.
Step up to the plate Republicans, it’s your turn.
“a man’s admiration for absolute government is proportinate to the contempt he feels for those around him”. Tocqueville
O tune down the attacks? Nah, their only hope is in attacking early and hard!
acat (Diary) Wednesday, September 14th at 10:25AM EDT (link)Can’t run on his record.
Can’t run on his ideas (since they’re the ones that got us his record)
He’s gotta go negative early and stay there.
Mew
——

Caveat Suffragator
So R's have to be prepared for the attack machine
YnotNOW (Diary) Wednesday, September 14th at 8:04PM EDT (link)with good lines like Reagan’s “well, there you go again…”
Don’t get caught off guard, with any slip of the tongue that the media can spin, because everyone knows it is coming.
YnotNOW
If not me, who? If not now, when?
Don't forget tax increases in 'Jobs' bill...
texasmom2012 Wednesday, September 14th at 11:22AM EDT (link)Obama plans to partially pay for his latest pork-a-palooza by ending the Bush tax rates on top wage earners and small businesses. He could not get this stupid idea passed when he controlled both houses by huge majorities, including a filibuster proof Senate. If was unable to pass then he KNOWS this cannot pass now and so he passes the buck to the super committee. Obama is completely unserious, he makes Wimpy look responsible because Wimpy promises to actually pay for his own hamburger today in cash himself tomorrow, while Obama proposes someone else figure out how to pay for his plans today sometime over the next TEN years. Just unbelievable!
Already there are 5 (D) senators saying they
steve010 (Diary) Wednesday, September 14th at 12:24PM EDT (link)won’t vote for the bill. Webb,Landrieu,Lieberman,Ben Nelson, and Begich and Webb and Lieberman aren’t even running for re-election. If it can’t pass the (D) senate, what is Barry thinking? Is he just going to go down in flames on this too?
He's Making A Statement
Repair_Man_Jack (Diary) Wednesday, September 14th at 12:30PM EDT (link)He’s going to claim that he tried. It was calculated to try and fail and be a statement. He only wants to perserve the one job that matters in his solipsistic little world.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Will the Republicans Rise to the Challenge?
4dees Thursday, September 15th at 8:31AM EDT (link)This is the perfect storm for the Republicans. Of course, we all know Obama and the Dems are going to accuse the Repubs of being the party of NO and obstructionists if they don’t pass The One’s jobs bill as is and IMMEDIATELY!! The Repubs have to stop the Obama train on the tracks and realize that the majority of Americans have caught on to the ploys and false accusations of The One and Axelrod. They need to remember the childhood mantra of sticks and stones may break my bones, but names will never hurt me. People are much smarter than The One gives them credit for being.
Political Capital?
shadowmane Thursday, September 15th at 10:07AM EDT (link)I think this President’s political capital is pretty much spent now. In fact, he may be going in debt with the news coming out lately. And this jobs bill? Well… its pretty much dead on arrival.
"Non-sustainable" jobs
mspector (Diary) Thursday, September 15th at 12:43PM EDT (link)All said and done, a plan to create “jobs” via government spending programs is simply non-sustainable. And I think people are getting this point, which is why there is so little interest in the latest “jobs” bill.
In reality, “jobs” are a function of the economy. Business expands, jobs increase. It’s the normal process of capitalism. Our economy is stagnant, so jobs are not increasing. Aside from the normal ups and downs of any economy, we know that the taxes and hidden costs of regulations under Obama have a lot to do with it (there has to be some explanation for why Obama’s heroes such as GE and Solyndra are shipping their plants overseas).
The plan to take more money out of the private sector so government can create temporary “jobs” will only make matters worse for the simple reason that this can only delay the time that the private sector begins to become robust once more. Unless Obama is genuinely clueless (and there is mounting evidence for that proposition), the only real explanation for his proposal is that he understands this and doesn’t care because he is (a) statist and (b) only concerned with putting people back to work long enough to allow him to win the next election (“if you love me, you gotta help me pass this bill”). It’s ultimately just all about him, his vacations and Michelle’s $950 tote bag, the real needs of the American people be da**ed.
“Government, even in its best state, is but a necessary evil; in its worst state, an intolerable one.” (Thomas Paine)
“A friend of mine was asked to a costume ball a short time ago. He slapped some egg on his face and went as a liberal economist.” (Ronald Reagan)