What else should be done with jobs bill?

There’s only one problem with the jobs bill now circulating in Washington — it won’t create many jobs, Associated Press is reporting.

Even the Obama administration acknowledges the legislation’s centerpiece — a tax cut for businesses that hire unemployed workers — would work only on the margins, AP writes.

Tax experts and business leaders said companies are unlikely to hire workers just to receive a tax break. Before businesses start hiring, they need increased demand for their products, more work for their employees and more revenue to pay those workers.

That’s exactly right. So what else should be done? How can we get things moving more quickly? Or does the ballooning deficit prevent bold action?

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24 comments Add your comment

Spanky Spankmeyer

February 11th, 2010
8:19 am

While O-dumb-dumb in in office we can expect much of nothing from him. Now is an excellent time to hunker-down and pay off credit cards, automobiles or save up a stash of cash.

The economy will remain in recess for quite sometime and the presdential dumbell can do nothing about it.

Tom

February 11th, 2010
9:57 am

Wont create jobs? Wow, did you figure that out all by yourself? It might create some government jobs.

There’s already been a jobs bill…..it was the stimulus package. I have noticed some highway construction taking place, but thats really about it. The government just can’t create jobs out of thin air.

Rosco

February 11th, 2010
10:05 am

Until the administration and Congress draft and implement legislation that penalizes big business, particularly technology companies, for moving jobs overseas layoffs will continue. Also, banks and mortgage lenders should be penalized for wantonous oversight in lending too much money to so many beyond their ability to pay back their mortgage loans. Start with SunTrust and Bank of America.

TnGelding

February 11th, 2010
10:18 am

That’s what I’ve been saying all along. How can you cut taxes when most businesses aren’t paying any, other than the payroll tax? We could transfer that to the employees over 7 years with little adverse impact. Pass Medicare for all and the tax increase would be a lot less than current insurance premiums and the full costof it could be transferred to the employees over time, too.

Let the stimulus in the pipeline work. It will save or create some jobs. $800 billion could have paid the 8 million workers sacrificed to the bottom line $100,000 for a year, or better yet, $50,000 for two years.

We simply have to make it easier and cheaper to run a business in this country.

Recession Casualty

February 11th, 2010
10:22 am

Hey Rosco…I was hot with the layoff bug last year and yes, my job went to Bangalore. Was there any difference in qualifications between the person who took my job and me? Probably not, but they think $20/hr is amazing and can live well with that. Whereas I can be resentful for a foreigner to have taken my job, I can’t say I blame my former employer. Let’s face it, there is no loyalty whatsoever from companies to employees in the modern business landscape and US companies have to put up with soooo much government imposed overhead that they are, out of the gate, handicapped to compete globally. The fact American business is still well-considered around the world is a testimony to our talents. There needs to be massive reform to enable US companies to once again be competitive globally but the government beast will refuse to be starved because of the risk in diminishing handouts and losing votes. This applies to both parties. Finally, the BOA and SunTrust comment, again, government mandated the issuance of loans to less-than-qualified applicants and they were all too happy to comply seeing as the taxpayer ends up holding the bag. As our founding fathers pointed out, government needs to be kept in check and as a necessary evil, not the end-all, be-all of society.

TnGelding

February 11th, 2010
10:23 am

Rosco

February 11th, 2010
10:05 am

Didn’t Countrywide issue about half of the bad mortgages? There were relatively few bad actors, but it all got sucked up into mortgage backed securities. The derivatives need to be liquidated in an orderly manner before it happens again. If you can’t stand the heat, stay out of the kitchen.

Subroto Sarkar

February 11th, 2010
10:25 am

I am an Indian tourist on a tourist visa ending on 10th May. Since I ar-rived in November I have placed proposals in different forum newspaper highlighting the ways and means to create new employment. Although I had a long 20 years experience in generating self employment no one gave any attention to my proposal. Neither Govt nor NGO nor any individual ever contacted me to know the plan. It is a tragedy. I feel very much hurt by this treatment meted out to me. Is it because I am an Indian? An alien? Any way still I am telling there are enough scope and opening to create employment in the US economy in the small scale sector and cottage sector with good potential export market demand in certain items.

TnGelding

February 11th, 2010
10:26 am

“government mandated the issuance of loans to less-than-qualified applicants”

Not true. They were still supposed to meet prudent lending qualifications. They weren’t supposed to deny loans for other reasons if the applicants were otherwise qualified.

DAVID: AJC Truth Detector

February 11th, 2010
10:37 am

WIZARDs of SMART at the Atlanta-Obama-Journal feel the need to tell us dumbAs@es Obama’s JOBs Bill will not create new jobs……TELL US SOMETHING NEW..

Corey

February 11th, 2010
11:03 am

It’s all about consunmer demand, people. Referring to the president as o dumb dumb and other childish name calling does not improve things. It took us eight years to get here; it certainly will take longer than 14 months to get out. A recession is defined as two or more consecutive quarters of negative growth. The last time I checked the economy is growing, but the pace of job growth lags. I know a lot of you wish national elections were held today and instantly millions of jobs lost would suddenly reapear; that’s fansay land at its best. Also Congress writes the legislation not the president. The president’s proposal have been significantly scaled back because that’s the only way to get the opposition party to contribute to the process without hearing the automatic “NOOO” from them. Spouting emotional tantrums makes you sound like retards. Yes I said R-E-T-A-R-D-S!

TnGelding

February 11th, 2010
11:09 am

Corey

February 11th, 2010
11:03 am

I would only say it has taken decades to get here. New World Order? It’s not too late to reverse it though, and at least he’s trying.

truth

February 11th, 2010
11:17 am

Do any of you brilliant people have any jobs to offer people who need them?

Ron

February 11th, 2010
11:25 am

The cost and risk of bringing on a new employee far exceeds the benefit of a one-time tax credit, period.

ITP Conservative

February 11th, 2010
11:30 am

It is frankly easy and has been done before, but the current administration and the leaders in congress ignore truth to impose their own idealogue Progressive Liberal Statist beliefs.

1) Cut the corporate tax to 10%
2) With Personal income tax – either shift to the Fair Tax or go to a Flat tax of 10% – 20%.
3) End capital gains tax
4) Cut Federal government programs to only constitutionally mandated responsibilities. That means ending most massive entitlement programs, ending earmarks and corporate welfare.

Capital follows freedom and low tax, capital means investment which means jobs. We do the above and we are rocking the world. We follow along the same path we are on now I encourage you to read about Japan’s past 20-year economic history as that is the Obama, Progressive Liberal Statist path – massive unsustainable debt and high unemployment.

Spanky Spankmeyer

February 11th, 2010
12:19 pm

Corey

O-Dumb-dumb, the presidential coconut, Obobo etc. They all fit. You, Corey may now climb back into that toilet which you call home.

PS…I bet you lay in bed at night all alone and eating your boogers.

Over It

February 11th, 2010
12:19 pm

Does anyone think that perhaps not giving jobs to foreigners in our own country might be a good start? We invite these people in on visa programs by the hundreds of thousands per year, let them stay here forever and then stand back and whine over the unemployment rate. Duh…….

Ron

February 11th, 2010
12:41 pm

ITP Conservative is correct. To put folks back to work and restore our economic strength we will need to re-engineer the entire tax structure and that re-engineering will also require a re-engineering of the federal government. Specifically, downsizing and eliminating departments and functions that have crept in over the past 45 years.

Today, government is too big, too powerful and too expensive. It almost precludes private enterprise. It has created a hostile environment for free enterprise. Frankly, government (coupled with greedy business practices) has brought the American economy to this watershed. This place of change.

Over the next couple of years we will decide if government becomes even larger (and more powerful) or if private enterprise will regain its strength and vitality. Obviously the present administration sees a more powerful federal government. More regulations, more controls, more oversight and eventually more taxes. Bigger government will equate to smaller private enterprise. Smaller private enterprise will mean more unemployment. The administration knows this and this why they’ve admitted that their jobs bill will be only marginally successful.

Randy

February 11th, 2010
1:03 pm

To get America back on track:

# 1 Fair Tax- abolish the IRS

# 2 No lobbyist in Washington- if a representative is found to have accepted a gift, trip, money, favor of any kind they should receive a mandatory sentence of twenty years imprisonment. No special interest groups in Washington either, if any person is found trying to convince a representative to vote in any particular manner he should receive a minimum twenty year sentence as well.

# 3 Term Limits- 4 years for Senators and 2 years for Congressmen. Their health care and benefits expire at the end of their term. Also should have a minimum educational requirement to meet.

# 4 No bill should be passed without it first being debated openly on CSPAN and the American public given the opportunity to vote online as to it’s passing.

November is coming soon the question is “Do you want your America back or continue down the same path we have been traveling?”

How do we do it? Vote incumbents out of office, quit voting party lines, vote your conscience is the person you selected best for our country or for you? If it’s for you then you voted wrong.

TnGelding

February 11th, 2010
2:51 pm

Randy

February 11th, 2010
1:03 pm

The “fair tax” is unfair. It’s a conservative scheme to recoup benefits paid out by Social Security. Senior citizens that aren’t paying anything now would be hit with a 23-30% sales tax. That said, most of us should be paying something, but not so the wealthy can see their taxes reduced.

TnGelding

February 11th, 2010
2:53 pm

Ron

February 11th, 2010
12:41 pm

The current administration wants a vibrant private sector. The “big government” is just temporay until we’re over this hump.

TnGelding

February 11th, 2010
3:04 pm

Over It

February 11th, 2010
12:19 pm

At the behest of big business, that claims we aren’t educated enough for their high tech jobs. Are they right? The military used to keep a steady flow of skilled workers coming. It has the best tech schools in the world. Another reason to bring back the draft? We can’t afford an all-volunteer army and the huge number of dependents it produces.

Ron

February 11th, 2010
3:55 pm

We are living and experiencing some interesting times. Frankly, there is no obvious answer to unemployment. Or at least a quick answer. I think most agree that government needs to be significantly changed but that takes time. Government didn’t get to be this behemoth overnight.

For those that think government can fix this thing with programs and spending please look back at the great depression. Roosevelt implemented many work programs WPA, CCC, TVA to name a few. All of these worked… to a point. TVA being the only survivor. And, Roosevelt had incentives for business to hire workers. And these programs worked… to a point. But in the end none of these programs brought about economic recovery and broad economic prosperity. Frankly, as most economist agree, the great depression was never solved. Instead, the US was brought into World War II and the country instantly went from economic stalemate to accelerated industrial expansion and output. Everyone was put to work.

So, now maybe we’ve come full circle. The US is not the industrial power house of the 40s, 50, and 60s. Just like we were in the 30s we’re just another player on the global stage. So, maybe we get the chance to pick up where Roosevelt and his administration left off and figure out how to make America work socially, politically and economically.

TnGelding

February 11th, 2010
11:56 pm

Ron

February 11th, 2010
3:55 pm

The government spending isn’t meant to fix it, just tide us over until corporate America comes to its senses. I had to move to Georgia to get a job in the ’60s. Today’s unemployed might have to move to China, Mexico, Canada, Haiti, Iraq, Afghanistan, etc. The U.S. military and Mother Nature have provided opportunities worldwide.

Jim Graham

February 13th, 2010
4:08 pm

Government does not have the answer to unemployment any more than it had the subprime mortgage crisis by the tail. Similarly, corporate America is no savior. 8 million jobs lost; most of them are not coming back. Entrepreneurship and small business is the answer, just as it has been all along (since that time when the US laid a foundation of entrepreneurial business and innovation, and all along as the US built the World’s longest-lasting and strongest democracy). Small business always has been the engine of job creation; we just need to get to a point where small business can compensate for corporate job shrinkage, and that is out of balance largely because small business financing has dried up along with the rest of the banking industry receding into its shell. Although those TARP dollars are propping up Wall Street – it is not helping Main Street much at all. And it has not loosened credit; absent credit, job creation stagnates; absent job creation, the economy putters along missing a few cylinders.
Get politicians, policy wonks, and corporate fools far away from Obama’s ear, and let him get in touch with small business owners. There is where your job creation ideation will come from.