Wednesday, October 12, 2011

Obama's Jobs Bill - Dead On Arrival

As old Abe Lincoln always said, you can fool some of the people some of the time; but you can't fool all of the people all of the time.   When Socialist President Obama demanded that Congress enact his deficit spending, trillion dollar SwindleUS Plans I, II and III, Obama promised us that the official unemployment rate would cap out at 8%, when it went to more than 10% and is today at 9.1%.   In fact, real unemployment, when all are counted is more than 17%, as 25 million Americans are either unemployed, under employed working part time that want full time work, or they have just given up looking for work altogether.   

In fact, the poverty rate today is higher than when President George W Bush was in office with 43 million Americans on Food Stamps.   Obama's previous SwindleUS Plans have failed miserably to create jobs and in fact 1.7 million jobs were lost after SwindleUS I, II and III were enacted into law. 

And then, Obama told us that his first SwindleUS Plans would fund "shovel ready" projects, then Obama later admitted "shovel ready" was not really possible because the permitting process and environmental wackos often stop anything from being built.  Finally, Obama said that his SwindleUS Plans would help keep teachers, firemen and cops on the job.   That may have been true because a good deal of this SwindleUS money went to government union employees, Obama's PEEP's, that are paid 20 - 40% more than typical employees in the private sector.

So now Obama is going around the country promoting his new $447 billion SwindleUS Plan IV to do more of the same.   Fortunately, this bill was DEAD ON ARRIVAL, when it reached the Senate floor, which when tweaked by Senate Majority Leader Socialist Senator Dirty Harry Reid of Nevada would have raised taxes on small business owners, that already pay a top federal income tax rate of 35%, by implementing an additional 5.6% surtax on companies with net revenues of $1 million or more.   These are the same people that already pay 40% of the federal income taxes paid in the US.  Even some Democrats voted against Obama's Jobs Bill because it would have been a job killer.  And there is no way Obama's SwindleUS Plan IV would have made it through the House anyway. 

It is time to stop all the gimmicks and get serious about long term solutions to restore economic growth and jobs in the United States and to deal with deficit spending and our National Debt.  Here is a plan that will do the job:

1.  Implement a hiring freeze to eliminate 500,000 federal civilian employees, out of the current 2.65 million, over the next five years, by normal attrition.   Use half the savings to fund infrastructure projects and use the other half to begin paying down the $16.7 trillion National Debt.  In doing so, eliminate or consolidate many federal agencies, commissions and departments.  Bring government compensation and benefits in line with what is typical in the private sector, instead of paying 20 - 40% more, as is the case today.
2.  Devise a 50 year energy plan to make the United States energy independent by development of all US energy sources including clean coal, natural gas, oil and gas shale, oil, nuclear energy and renewables.   This will create more than a million new high paying jobs and stimulate the economy by making energy cheaper, not more expensive; Obama's goal. 
3.  Cut corporate income taxes to no more than 20% from the current 35%, among the highest in the world to bring jobs home.
4.  Allow corporations a two year period to repatriate corporate profits from overseas with no federal, or state income taxes assessed.   Going forward allow repatriation of profits with a 5% federal income tax. 
5.  Get rid of all tax loopholes, except the charitable deduction.   This means gradually eliminating the mortgage deduction, over a five year period, while making the personal federal income tax rate flatter with a top rate of 25% and other rates of 20%, 15%, 10% and 5% for all Americans making more than $35,000 a year. 
6.  Finalize the Capital Gains and Dividend tax rate at 10% since income taxes have already been paid on the monies needed to fund these investments.
7.  Maintain the Estate Tax at $5 million, gifted tax free and then utilize the regular revised income tax rate thereafter.
8.  Prevent frivolous lawsuits by enacting loser pays.
9.  Review all Regulations and eliminate many that are job killers.  This will allow manufacturing jobs to return to the US. 
10.  Get the Environmental Protection Agency and the National Labor Relations Board, that are both killing jobs, under control.  
11.  Repeal ObamaCare, Dodd Frank and Sarbanes Oaxley that are all killing jobs.
12.  Improve public schools to make sure that kids either leave school with a vocational job skill, or prepared for college.
13.  Means Test Medicare so that those that can afford to pay more do so and raise the retirement age for full benefits to 68 years old for those under 55 years old to preserve these entitlements. 
14.  Block grant Medicaid payments to the states at a level that is sustainable and let the states deal with it.

We have structural unemployment in the US because of 100 years of Socialist creep.  The balloon has burst.   If the listed items were to be implemented, we would see economic growth and job creation again in America, without bankrupting our country.   It will not happen without these changes.   Of course, President Obama and his Socialist pals in government will never agree to these changes, which is the reason we must sweep them all out of office in 2012 and 2014.  

We must elect rock solid, common sense Conservatives that support free market capitalism, limited government, lower taxes and less regulation, term limits, a balanced budget, real energy, education, health care and entitlement reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values that are the foundation of our nation.   This is the platform supported by the majority of the American people and the only way to restore economic growth and job creation in our country. 

We must take back our country in 2012 and 2014 to prevent the bankruptcy of our nation.   We can do it.   We must do it to preserve our freedom, our nation and way of life.   Socialist President Obama's Class Warfare is dividing our country at a time when we must come together to put people back to work.   To get there, we must finish the job we began with Republican victories in 2010.  It is time for change we can believe in; not more of Obama's Socialist Schemes. 

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