Will Obama's jobs plan improve the economy?

didnt watch the speech, cnbc has this quote

"But the bulk of his proposal was made up of $240 billion in tax relief by cutting payroll taxes for employees in half next year and trimming employer payroll taxes as well. "


Wtf does that mean payroll taxes for employees will be cut in half? are they serious

 

Robbing Peter to pay Paul.

Payroll taxes fund Social Security. Less money into that system, the greater the deficit burden.

Not a real solution to anything.

 

Marc Faber: Obama's Job Package 'a Complete Joke'
Published: Friday, 9 Sep 2011 | 9:02 AM ET
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By: Patrick Allen
CNBC EMEA Head of News



Pimco’s Mohamed El-Erian might like what he sees in President Barack Obama’s $447 billion jobs package but not Marc Faber, the author of the Gloom, Boom and Doom report, who is not happy about the President’s plan.

Dr. Marc Faber
Axel Griesch | ASFM | Getty Images
Dr. Marc Faber

The package is “another complete failure of Keynesian economics and corrupt interventions,” Faber told CNBC.com on Friday morning.

Other economists have welcomed the plan as it attempts to boost employment.

Faber's major problem is that governments around the world should be attempting to cut spending, not spend more.

“This all amid talk of deficit reductions,” said Faber. The package is a “complete joke.”

On Thursday Nomura raised its third-quarter growth estimate for the US economy to 2.6 percent while Goldman Sachs’ chief economist Jan Hatzius told CNBC on Thursday that he may have been too bearish.

Hatzius said growth “now actually looks like it might come in a little stronger than” the 1 percent he had previously predicted.

“The bond and stock markets seem to have a different view,” said Faber.

 

Absolutely....Not!

It will be more of the same. More of the political reality show we are feed everyday!

Politics = showbiz for ugly people who couldn't get a job in the private sector to save their life....

 

Unions are a tax on it's people and an uncompetitive disadvantage to the US. Not immigrant or outsourced labor. The latter is a reaction to the theft which the union handicaps onto the rest of society. Protectionist labor is nothing more than middle class socialism.

 

I also find it ludicrous that Obama wants to reward construction companies which profited massively off the RE bubble with tax subsidized jobs creation and contracts.

This plan is nothing more than spending tax money to hire illiterate union workers to dig a big ditch and then fill it back up 6 months ahead of the November election and gain their vote.

 

I don't believe in the jobs bill... too many old ideas, and the new ones aren't really new either. Worst of all is that all this stuff has been tried in the past to no avail. Good luck...

 

O's trying to get some more union votes at taxpayer expense. Nothing more:

http://globaleconomicanalysis.blogspot.com/2011/09/dissecting-lies-in-obamas-477-billion.html

 

That guy mish is a tool. Republicans did the same thing over and over like with medicare but he doesn't give a crap. He only does when Obama does it. That's called hypocrisy.

 

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