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FRONT PAGE CONTRIBUTOR

Barack Obama tries the same failed tactic on ‘stimulus.’

Let me just simplify this for the President’s tired and rather sad proposal on how to pay for his tired and rather sad ‘jobs’ bill:

President Barack Obama would pay for his $447 billion jobs plan by ending a series of tax breaks for oil and gas companies, hedge-fund managers and people making more than $200,000, the White House said Monday.

In total, Mr. Obama’s plan would end about $467 billion of tax breaks over 10 years, said White House Office of Management and Budget Director Jack Lew. The president has previously proposed ending the tax breaks, but has faced stiff resistance from Republicans.

No.

We are very possibly approaching the second stage of a double-dip reception, if we are not in one now; and even if we are not it is still not a good idea to raise gas/oil prices, not to mention putting yet more tax burdens on our small businessmen (the Left really, really hates it when its pointed out that their vaunted $200K/$250K tax hikes will hit small businesses that file as S-Corporations right between the eyes).  This is known, by the way: after all, as Hot Air helpfully reminds us, the Democrats ran from similar proposals in 2009, back when they were pretending to be responsible legislators eager to do the country’s business.  The reality, of course, is that they were more interested in giving the country the business.

In other words: if your own party was uninterested in running up even more debt and taxes to pay for your enthusiasms, don’t expect my party to.

Moe Lane

COMMENTS

  • reddog53

    This whole crock should be kicked to the curb for two reasons:

    1). Spending mealy half a TRILLION dollars in 2 years and collecting more taxes for 10 years is not “PAID FOR” in any rational use of the words. It is simply piling on more debt..

    2) Tossing this over to the debt commission without even suggesting what should be cut is a total surrender of leadership. Making someone else take the rap for your decisions is hardly the right thing to do — but it is so characteristic of this President.

  • harlan

    Who could possibly be surprised by this from o?

    It’s who he IS.

    It’s all he knows.

    Good grief.

  • http://conservativemountaineer.blogspot.com/ conservativemountaineer

    I am President and owner of a +100yo Company that seemingly is the 1st to have a slowdown in sales and last to experience an uptick. I’ve been President and owner for +15years and I can see the fluctuation with business compared to general economic cycles.

    Business has been markedly down for about 2 months. Inquiries are strong and we haven’t ‘lost’ any sales, but no wants wants to place an order. The good news is that certain of our products are critical to some industries and available only from us. We’re profitable even now (barely).

  • lastgopinillinois

    opposing the propositions in the American Jobs act ? I looked everywhere and found none. Not even on freedomworks.org. But I DID find several sites that have petitions IN FAVOR of the bill;
    Change.org, wordpress.com, credoaction.com, peoplespoliticsiii.yuku.com, thedemocraticdaily.com, www.elliotsblog.com, conservativedailynews.com, www.nationaljournal.com
    Frustrated, I wrote my own petition and sent it to my representatives (if you could call ‘em that) Costello and Durbin will outright ignore it. Mark Kirk (R) votes with the powers that be because he is only in it for himself.
    But I cant say I didnt try.
    Everone please feel free to use the text below and or edit to suit a version of your own and LET YOUR VOICE BE HEARD:

    REGARDING PROVISIONS OF THE UPCOMING “American Jobs Act”

    OPPOSE Project Rebuild. I had to pay for my own insulation and caulking and bought energy efficient windows WITHOUT ANY government assistance before the housing bubble burst. It is unfair to citizens like me who followed all the rules and did all the right things when the govt decides to give others who DIDNT insulate their homes MY tax dollars to pay for theirs. How about this? Why dont we all be responsible for our own actions and live with the consequences of our own decisions.

    OPPOSE the creatiion of an “infrastructure bank.” A govt slush fund to benefit unions and further the goal of wealth redistribution and socialism. I smell corruption, favoritism and vote buying brewing in this scheme.

    OPPOSE renewing payroll-tax cuts; Does not make sense to cut FICA payroll deductions for both employers and employees by 50% at a time when the coffers for Social security has already red-lined and Medicare has already suffered 500million loss to fund medicare, with more cuts on the way from the supercommittee, (and when the retirement community is growing every day, while fewer workers are left to pay for them), Unless you WANT to bankrupt the entitlements a little sooner.

    OPPOSE a new-hire tax credit and tax credit for hiring returning veterans; 1000′s of new regulatory job killers makes a $4000 tax credit look like a drop in a bucket. Short term schemes will not boost any confidence in the free-market. Economic growth requires a long term tax structure that business can plan hiring and expansion around.

    OPPOSE extending jobless benefits; If the right policies were in place to boost the economy, unemployment would decline and you wouldnt need this. See TAX REFORM, below.

    OPPOSE “bridge-to-work” program; This is more taxpayer dollars for employers to allow temporary workers and employer sponsored training. People are FREE to become independent consultants and get temporary employment now, without government assistance. Theres plenty of training available, and I have paid for additional training at tech schools WITHOUT any governemnt assistance. If I can do it, anybody can.

    FAVOR ratifying pending trade deals; Republicans have been trying to get this done since 111th congress. But 0bama has strategically held this back to use it as a boost for his 2012 campaign.

    OPPOSE providing aid for teachers; Let State and local governments take care of their education system so we can get some creative, innovative ideas to improve education.

    OPPOSE new job training for long-term unemployed; We dont already have dozens of job training programs? More government redundancy. Matter of fact why dont you consolidate some of those programs, streamline them and save the taxpayers some money?

    OPPOSE funding school renovations; We dont want our tax dollars to renovate schools 1000 miles away from our districts This is just a different form of wealth redistribution. Education tax is by far the highest percentage of individuals local real estate tax bill. This should be kept at the local level where citizens have a better chance of keeping their school boards accountable for spending.

    OPPOSE Tax Deform; Raising taxes on the wealthy (individual incomes), while lowering the corporate rates does nothing besides shift the tax burden around. Possibly causes irrepairable damage to small business due to increased taxes and shifts more burden on to the middle class.

    FAVOR tax Reform; Include lowering the corporate rates to about 24% and eliminate corporate subsidies and deductions, but should also prevent double-taxation of re-patriating money earned abroad. In addition the bill should call for ALL Americans to pay something in taxes. By broadening the base as such, all the people will have equal skin in the game. These needs to be coupled with MEANINGFUL regulatory reform.

    The Plan should be PAID FOR, not by using Fuzzy Math, New Math, Keynesian Math, budget gimmickry or kicking-the-can-down-the-road. Taking away all corporate subsidies and deductions amounts to about $2.3Billion. You still have another $444.7Billion unpaid for. Ohhh dont give me any provisions from the super-committee which might produce a 444billion savings over ten years. That ten year stuff aint gonna happen and you know it. Any costs incurred by this bill MUST be paid for within THIS budget year, or NO dice.

  • anjinconsulting

    The best reason to sh!tcan this “bill” is that spending .4T on the same things that spending .8T on previously and that got us 0 is beyond stupid, even if monkies fly out of my a$$ and the tax rates actually yielded what they projected then went away in the next decade.

    Captain Zero is beyond arrogant and condescending and he must be rolling on the floor watching the republicans flounder on this knowing he will likely get most of it.

    Good grief, what a circus! Never before has the complete abrogation of congressional responsibility and leadership been so apparent.

  • ajshea

    I just did. If enough of us do it will be noticed.

    Great text, thanks for writing it!