PDA

View Full Version : Obama Proposes $210 Billion for New Jobs



stephanie
02-13-2008, 04:09 PM
:poke:

By NEDRA PICKLER – 1 hour ago

JANESVILLE, Wis. (AP) — Democrat Barack Obama said Wednesday that as president he would spend $210 billion to create jobs in construction and environmental industries, as he tried to win over economically struggling voters.

Obama's investment would be over 10 years as part of two programs. The larger is $150 billion to create 5 million so-called "green collar" jobs to develop more environmentally friendly energy sources.

Sixty billion would go to a National Infrastructure Reinvestment Bank to rebuild highways, bridges, airports and other public projects. Obama estimated that could generate nearly 2 million jobs, many of them in the construction industry that's been hit by the housing crisis.

"This agenda is paid for," Obama said as the Republican National Committee promoted an "Obama Spend-O-Meter" online to track his proposals and portray him as a tax-and-spend liberal. Obama explained that the money for his spending proposals will come from ending the Iraq war, cutting tax breaks for corporations, taxing carbon pollution and raising taxes on high income earners.
Obama, who has faced criticism that he doesn't have enough policy specifics, asked autoworkers at the General Motors plant in Janesville, Wis., to "bear with me" as his began a policy speech that he said would be unlike his typical rousing addresses to rallies. He read from a TelePrompTer in a cavernous training room, flanked by sparkling new vehicles and a large American flag.

"Today I want to take it down a notch," Obama said. "This is going to be a speech that's a little more detailed. It's going to be a little bit longer, not as many applause lines."

Obama pointedly did not include one of his biggest applause lines, that he would require vehicle manufacturers to raise fuel economy standards. Obama often points out that he delivered that message straight to the automakers during a speech last year in Detroit.

read the rest..
http://ap.google.com/article/ALeqM5isOFwdbq0tsqatW6vJpkDRTI1gMgD8UPKE380

PostmodernProphet
02-13-2008, 04:32 PM
I like the idea in principle.....but it should be handled a bit differently.....like, we eliminate the income taxes on businesses that create new jobs......

Hobbit
02-13-2008, 04:47 PM
If all else remained equal and all we did was make a tax plan that could be figured out by any idiot in just a few minutes, that would free up $325 billion in tax compliance costs. That's not taxes paid, that's just how much is spent figuring out how much you're paying in taxes. Now, if a consumption tax, such as the FairTax, was adopted, and dollars overseas were not taxed the second they re-entered this country, former Federal Reserve Chairman Alan Greenspan believes most off-shore accounts, currently held for tax purposes, would come back within months, but let's be skeptical. Let's say only %10 of that money came back. That's still $1.2 trillion being dumped into the economy in a matter of just a few months, without it ever having to even pass through the treasury office. How's that for a stimulus? But wait, what if Greenspan's right? Then, we get a $12 trillion economic stimulus. The money is RIGHT FRICKIN' THERE, just waiting to be used, but the government won't do it because there's no way to buy votes with it.

So let's see, not counting all of the other benefits, that's about $12,325 billion as compared to Obama's measly $210 billion. That's a 5769% increase over his plan, and it doesn't involve socialist income redistribution schemes or putting our country further in the hole.

And speaking of government spending, if our current trend continues at the same steady pace it has been ever since LBJ's "Great Society" bullcrap, by April 2040, the sum total of all federal income taxes will no longer be enough to cover the interest accrued on the national debt.

PostmodernProphet
02-13-2008, 06:10 PM
that would free up $325 billion in tax compliance costs

you vile man, you just put all the accountants and tax lawyers on welfare......

avatar4321
02-13-2008, 06:40 PM
Let me see if I understand this....

We are going to create jobs by taxing corporations for global warming?

how exactly does that work?

glockmail
02-13-2008, 07:31 PM
you vile man, you just put all the accountants and tax lawyers on welfare...... Just think of the actual work that all those people could do. They might even create wealth instead of simply counting or hiding it.

Hobbit
02-14-2008, 01:48 AM
you vile man, you just put all the accountants and tax lawyers on welfare......

Instead of boring themselves to death by getting paid to properly record the past, they could make a living planning the future, which is what accountants did before the income tax. Tax lawyers would just have to find a different focus.

red states rule
02-14-2008, 06:12 AM
Let me see if I understand this....

We are going to create jobs by taxing corporations for global warming?

how exactly does that work?

Well at least we lnow for a fact, Obama does not believe in free enterprise and capitalism to create jobs - he believes it is the governments role to create jobs