Rebates on social security taxes will not create any jobs, let alone the 1.5 million to 2 million that is projected. To create jobs in private business we need structural reforms that will permanently make businesses more competitive such as health care reform and scrapping numerous union work rules.
GDP Perversion
Government spending adds to GDP regardless of what is produced or how much, so fixing 1 bridge or 3 adds the same GDP. If you waste enough money you can have a positive GDP, whether anything is really produced or not.
Most of the first stimulus was squandered and should Obama win approval for his $447 billion plan, most of that will be squandered as well. Tax cuts will help corporate profits but do little for permanent hiring, and prevailing wage laws and union work rules ensure we will massively overpay for infrastructure projects.
Unless and until we fix structural issues, we can expect no job creation, no matter how much money Keynesian clowns want to throw around.
Devil at my Doorstep
Obama's proposals are 180 degrees wrong. Obama wants to drive up labor costs, not because it makes economic sense, but because it is the only way he can possibly be reelected.
GDP Perversion
Government spending adds to GDP regardless of what is produced or how much, so fixing 1 bridge or 3 adds the same GDP. If you waste enough money you can have a positive GDP, whether anything is really produced or not.
Most of the first stimulus was squandered and should Obama win approval for his $447 billion plan, most of that will be squandered as well. Tax cuts will help corporate profits but do little for permanent hiring, and prevailing wage laws and union work rules ensure we will massively overpay for infrastructure projects.
Unless and until we fix structural issues, we can expect no job creation, no matter how much money Keynesian clowns want to throw around.
Devil at my Doorstep
Obama's proposals are 180 degrees wrong. Obama wants to drive up labor costs, not because it makes economic sense, but because it is the only way he can possibly be reelected.
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