Borrowing from Social Security the Obama Jobs Bill

  1. MikeNV profile image74
    MikeNVposted 6 years ago

    Every Obama "solution" works like this:

    Borrow and Spend.  And no plan is put into place to repay the massive borrowing.

    The Current Jobs Bill:

    The bill which passed Wednesday contains about $18 billion in tax breaks and a $20 billion infusion of cash into highway and transit programs. Among other things, it exempts businesses that hire the unemployed from paying the 6.2 percent Social Security payroll tax through December and gives employers an additional $1,000 credit if new workers stay on the job a full year. Taxpayers will have to reimburse Social Security for the lost revenue.

    So the "Taxpayer" gets to pick up the tab to repay Social Security.  Why bother with this temporary exemption in the first place. It's just more paperwork to administer.

    In my view... $1,000 is not going to make any company take on new employees that wasn't already planning to do so. But those companies who are planning to hire will get a little boost.

    Obama spends all his time on his plan to Destory Health Care and next to no time on real plans to put people back to work in the private sector.

    You can't just print money and funnel it through Government and expect economic recovery.