American Jobs Act is a political farce

The more the government thrusts itself on the economy the more it flounders. - Courtesy: Bokblusters.com

As expected, President Obama’s jobs speech was full of political pabulum and worn out Democrat talking points straight out of the Bolshevik takeover of Russia.

I predicted earlier this week, the president’s plan would be little more than a speech. He has no plan to send congress so that they can “pass it now” as the president repeated seventeen times during his speech. Mr. President, if passing a bill, which doesn’t exist, is so important – why did you wait almost three years to take action? Furthermore, why is there no bill for Congress to take action on?

President Obama stated matter-of-factly that “everyone here knows we have badly decaying roads and bridges all over the country.  Listening to President Obama speak about America you would think we are some miserable third-world country like Kenya. Our infrastructure is neither crumbling nor deficient, in fact, it is the envy of the world.

The president also spoke about our overcrowded airspace stating that “our skies are the most congested in the world. It’s an outrage.” Really Mr. President? Maybe it’s because we have nearly five-times as many aircraft than any other country in the world, moreover, we have more aircraft than the next eight countries combined according to Global Firepower.com.

It wouldn’t be a democratic socialist speech without mentioning our indoctrination, I mean education system. President Obama talked about this urgent need to build schools as if our nation’s classrooms are somehow overflowing with students and our schools are collapsing from disrepair. In reality, many of our major cities, like Detroit and Kansas City, have had to close half the schools in their cities because of declining enrollment and wasteful spending. The United States spends more per student than any other country in the world yet we are ranked seventeenth in the world in education. Any rational thinking human would conclude that money isn’t the problem; our education system is the problem yet the left’s answer to everything is to throw more money at the problem.

The only reason the president mentioned these things is because he is beholden to the socialist labor unions that control our education system and much of the construction in the United States.

President Obama stated that he would pay for this half-a-trillion-dollar ponzi scheme by making further budget cuts. Only in America can we make a budget cut and still increase our debt. Why? Because it doesn’t reduce spending it merely slows the projected acceleration of spending. If you’ll remember, the mythical budget cuts passed over the summer includes two more automatic increases in the debt ceiling.

The other way the president wants to pay for his jobs plan is to have individuals who aren’t paying their fair share to chip in. President Obama usually defines this as Americans who earn more than $250K per year. Let’s say that the president wants to raise $2 trillion in additional tax revenue. According to the latest census, roughly two-percent of American households earn more than $250K per year.

The latest census also estimates that there are slightly less than 130 million households in America. So if you multiply that by two-percent you come to about 2.6 million households earning $250K or more per year. To get to the president’s magic number of $2 trillion, which is how much revenue he needs to pay for his two recent boondoggles, you would have to tax each one of those households an additional $76,900.00 per year on top of the $87,000 they already pay in taxes. So you tell me; does the president’s math does not work?

He also mentioned that he wants to use tax reform to help pay for the plan. What that means is he wants to tax energy companies even more which will cause a further escalation in energy prices. Meanwhile companies like GE and Google pay next to nothing in taxes but since they are major contributors to the president, he turns a blind eye, and provides them with more tax incentives.

President Obama has become fond of mentioning Warren Buffet in his speeches of late as if Buffet provides him with business credibility. Never mind that Buffet’s company, Berkshire Hathaway is nearly one-billion-dollars behind in their taxes, which the anointed one will probably have waived. (Ever notice that the Democrats, the party of taxes, seems to be filled with tax cheats? But I digress.)

Mr. Buffet is also fond of saying that his secretary pays a higher percentage in taxes than he does. What he doesn’t tell you is that he purposefully pays himself a token salary and then compensates himself with about $46 million in dividends. Why does he do this? Because dividends are taxed at 15 percent rather than the top rate of 35 percent on income. So the president’s shining example is cheating the system so he avoids paying 20 percent more in taxes.

Sadly the president isn’t ideologically capable of doing what needs to be done to pull America out of the second Great Depression. He says he wants to get rid of burdensome regulation but his administration continues to implement hundreds of new regulations on American business each month. He says he only wants to tax the evil rich people who aren’t paying their fare share but I have already proven that is impossible. If he raises taxes, he will have to raise them on the middle-class which continues to shrink on Obama’s watch.

The president is a socialist ideologue who believes that the government is the only answer to America’s problems, yet, the more the federal government thrusts itself upon our economy the more our economy flounders.

 

About Todd

Todd Kinsey is a political consultant and conservative commentator whose articles have appeared in many leading publications, both print and electronic. His work has been cited by prominent media outlets such as the Wall Street Journal, the Washington Times, the Washington Post and U.S. Daily Review. You can contact him by email: todd@toddkinsey.com
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