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Why aren't we discussing other plans?

Posted: Sep 10, 2011

President Obama isn't the only one who has presented a jobs plan.

In “Believe in America: Mitt Romney’s Plan for Jobs and Economic Growth,” the candidate says that if elected, he would lower the corporate tax rate by 10 percentage points, points, to a top rate of 25 percent; eliminate taxes on capital gains, dividends, and interest for taxpayers earning under $200,000 a year; slash the federal workforce by 10 percent, by allowing Uncle Sam to hire a new employee only after two existing ones have been let go; and expanding domestic energy production.

In all, the Romney campaign estimates his plan, if fully enacted, would create 11 million jobs over four years.

My biggest problem with Obama's plan is simply this...it relies on temporary measures and federal spending to spur growth. And even if Obama's plan is fully enacted, it is estimated to create about 1.9 million jobs. Eleven million over 4 years sounds better to me. Just saying.

Just curious to see if anyone has given any thought to Romney's idea or whether this is strictly an "It's Obama's way or nothing."

;

obama's an idiot - i have yet to see one of his plans work

[ In Reply To ..]
You want to lower the deficit and employ people? STOP GIVING TAX BREAKS TO COMPANIES THAT ALLOW OFFSHORING WORK AND HEAVILY TAX THEM INSTEAD!
Simple, to the point, and works.

Which plan would that be? Bubs have blocked all - of his proposals. nm

[ In Reply To ..]
.

Did you forget stimulus #1? - ??????

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Obama passed that and look where it has gotten us. Tax payer money that isn't even fully accounted for that was given to unions and special interest groups. That was about as stimulating as a blind man looking at a playboy magazine.

I wonder if..... - oldie

[ In Reply To ..]
the jobs he is going to create will be (hee-hee) shovel ready. I just don't trust any of them anymore. That clip of him and Imelt laughing about the shovel-ready jobs not being as shovel-ready as they thought just blew all of my trust in their honesty. Obama has allowed Imelt to make all the $$ overseas and Imelt's corp doesn't pay taxes on that $$. All US corporations doing business overseas should pay taxes on profits even if they have to lower the rate to get the corps to bring the $$ back here. Just my humble opinion.

Exactly right! The first stimulus was a disaster! - Obama is clueless on the economy.nm

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nm

Bush started the stimulus and left the other half - for Obama. nm

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This is what I keep saying. This is the answer. - TAX OFFSHORING sm

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companies. Unfortunately, I don't think either party will ever do this. I had high hopes that Obama was the one who might consider it. I have no hopes that a repub president would. They can offer as many "plans" as they want to. The answer is to punish those who offshore.

Addendum to my above post. Not only punish - offshorers but reward sm

[ In Reply To ..]
companies that do not offshore.

And that is exactly one of Obama's solutions. - sm

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He plans to give a tax CREDIT to companies that keep jobs here.

But don't give him credit for proposing this.

You need to catch up on your talking points.

What I don't get is why so many - sm

[ In Reply To ..]
are all for "investing" in infrastructure when Japan is the perfect example of why that doesn't work. The only way to get out of this is to cut government spending and make government smaller...not bigger. President Obama has no intention of doing either.

All politicians lie to get votes. - sm

[ In Reply To ..]
I don't trust any of them to do anything they promise. The world economists say that lack of spending now is the way to make this recession go double-dip and will hamper our economy for years to come. You have to spend money to make money. This is not the time for austerity. "The spice [money] must flow!..."

Well...if spending was the answer to - our problems

[ In Reply To ..]
we should be booming then. Obama and Bush have spent so much money that we should all be financially sound if spending were truly the answer.

What were we doing "right" when the economy was growing? - .

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There are probably some major hints there as to what we should do (or undo) to improve the economic and employment situation.

Let's look at the things that have hurt us. - sm

[ In Reply To ..]
The housing bubble from which politicians demanded banks give high risk loans because everyone deserves a home. When that bubble burst...it screwed a lot of people.

We don't manufacture things here like we used to. We have so many factory jobs going out of our country where there are lower prices and less regulations to follow.

Our government has gradually gotten bigger and with that....government spending has gotten out of control.

We got ourselves involved in wars we never should have been involved in and that has resulted in spending a lot of more...but more importantly...losing a lot of American lives.

Illegal immigration hurts us because they are costing us a lot of money as well as jobs that Americans could be doing if they weren't receiving a check from the government in order to stay home and NOT work.

Oil prices going up always hurts the economy.

NAFTA hurt us as well.

So if we go down the list of things that have hurt us, perhaps we can repeal and change some of this crap. Seems to me that government is more of a problem than a solution to our problems.

How about no more spending on wars. That is what - is draining us. nm

[ In Reply To ..]
.

Uh...did you even read what I said? - I do believe I

[ In Reply To ..]
mentioned that we got involved in wars we never should have gotten involved in.

Our think the 2 biggest things that hammered us and really sent us in a downward spiral were the wars and the housing bubble. A lot of things contributed to our situation and it has be coming on for a long time...but the wars and the housing bubble tipped the scales.

Republicans push a false economic picture. - We do need to spend

[ In Reply To ..]
If we get America spending again, all will be well, but if we do the austerity thing, continue to deprive our people of the ability to make money, then all is lost and that 2nd dip is likely to occur. Trickle-down economics has failed us miserably. Corporations are making more than they ever did, but do you see anything trickling down. No, we don't.

Where are you going to get the $ from? - I'm taxed enough!

[ In Reply To ..]
nm

Until companies start hiring and the middle class...sm - VTMT

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start spending the money they earn from those jobs our economy will never recover. It is not a matter of cutting. It is a matter of getting people spending again. Your tax money can go towards welfare and unemployment benefits or to pay workers from private small companies to do essential infrastructure work. Your choice.

I'm not sure how they are going to make that - happen. I am middle class

[ In Reply To ..]
and with the way the economy has been, we are looking for ways still to not spend. The average American has thousands in credit card debt, which I am assuming is something that helped bump the ecomony up at one time. I think a lot are trying to get themselves out of debt.

I think companies are starting to get the same mentality of not wanting to get in over the heads anymore than they already are. They are going to have to trust in the administration that the economy is going to get better, and I don't think a lot have that trust yet.

As far as cutting, it would be a good move to start with. I look at it just like a household budget. When you are going through a financial hardship, you go through and look at everything and try to cut down anything that can be cut any.

We have done a lot of spending in the past years, it might not be a bad idea to look at other options as obviously this hasn't helped too much.

Republicans raise taxes, too, except for the superrich. - Then scream big government

[ In Reply To ..]
The big government is only the parts that check up on them as they pilfer the earth without regard for future life on the planet.

We need jobs. If we can't work, then we can't pay taxes. We probably won't get the jobs until the republicans get their way, though. They want to reduce us to mill villages and shacks to live in first without their being in any way responsible for their employees. You work for them, owe them your life and livelihood. And we are supposed to be thankful for being enslaved by corporations.

If you are middle class or low income - The the GOP does not agree. sm

[ In Reply To ..]
If you are a retired senior receiving SS or Medicare, the GOP does not agree. If you are blind, disabled, chronically or terminally ill and receive SSI or Medicaid, the GOP does not agree. If your kids cannot qualify for Medicaid and are insured under SCHIP because one or both of their parents are unemployed or cannot afford health insurance, the GOP does not agree. If your kids are enrolled in the elementary, secondary or higher education systems, the GOP does not agree. If you are a child or adult enrolled in a literacy or jobs training program, the GOP does not agree. If you have sustained losses to your business or home or have been displaced from drought-driven wildfires, Midwest flooding, tornadoes, earthquakes, hurricanes, the BP oil spill or other man-made environmental hazards, the GOP does not agree. If you are jobless or underemployed, receive UI benefits or use food stamps to feed yourself or your family, the GOP does not agree. If your home was foreclosed and you need housing assistance, the GOP does not agree. Lest we forget, they have made it clear that active troops pay and veterans services will be fair game shortly, since they are just getting warmed up.

Be it tax increases or programs funding cuts, these are but a few GOP targets. No need for despair. If you are an uber or corpeoplelation, they feel your pain and deprivation, and will fight to the death to see to it your current exorbitant tax cuts under W are further reduced a full 10% in the name of jobs creation and will be kept under 25% for all eternity.

Nothing in that list benefits me. I'll NEVER vote - Republican. nm

[ In Reply To ..]

Having run our own construction business for 10 years, I am... - ndmt

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beginning to understand the whole concept of taxing people out of hiring people.

Granted, we are not big business in any way, and we DO NOT HIDE OUR MONEY OVERSEAS to prevent paying taxes, but...

If we make X amount of dollars a year, we have to show X amount of dollars profit - not for the IRS - but to be able to maintain a cash flow sufficient enough to give us the ability to borrow from a bank. Now, realistically, we just about break even every year. Once we pay for vehicles, fuel, tools, replacing tools that have worn out, ALL the insurance, and giving our employees a living wage, there is only a few thousand left. We are pretty much waiting for the day our loans are paid back to see some relief.

Now, in order to purchase a pickup which can pull a flatbed, tool trailer, and go down the road about 30,000 to 40,000 miles a year, we spend about $40,000 and usually after 4 years the truck is shot.

To get a $40,000 loan, we have to show income enough to afford that. To show income enough to afford that, we have to shave some expenses off of our taxes and show more income than we really have. Thus, we are paying more to the IRS than we really should, but we need to be able to keep our business afloat on the banking/lending side.

When you pay out $10,000 to the IRS in self-employment tax and income tax that you don't really need to just so you can borrow enough money to replace your equipment - that is money that could be spent towards hiring a new employee.

And please don't say we should be able to "afford" this. Debt to income in business is the same as anything else. Even if vehicles are our major expense, they won't lend if your vehicle purchase is over 1/3 of your income. If you claim that, you're paying tens of thousands more in income & self-employment tax.

It's a vicious cycle and much of the reason small businesses cannot make it. The SBA is a joke. It doesn't help you if you don't work with a lender, and if the first lender doesn't like your numbers and you go to another, it stays on your credit report for 2 years. That inhibits working with any other lenders because now your credit score has dropped. AND - that is if you can find a lender who wants to deal with SBA bull. Many, many, many don't.

I know so many people who drop out of small businesses just because they can't get a handle on all of it. The bottom line is while where less tax would help, they need honest real-time support for financing small business. That would create jobs.

Everybody is so concerned that a small business is so risky. Well, if it took 4 people off of unemployment or welfare for 6 months, added 6 months' worth of payroll taxes into the system, purchased equipment/tools/property supporting other businesses, it is really a failure??? More so a failure than saying not to try?

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