(1000+ posts) Thu Mar-11-10 06:10 AM
Original message We need a massive job creation effort and we get a truly piddling and virtually useless one
Tax credits are idiotic and useless. I got that confirmed in a thread last week where I specifically asked small business owners whether tax credits would motivate hiring.
Everything? Chuck, admit your impotence. At most, this bill might stimulate the creation of 250,000 new jobs -- a bit short of the 11 million that America needs just to get back to where were in 2007, much less the need to create an economic path to lead us into a bold future of new, sustainable, middle-class job creation.
In fact, the Democrats' response is even weaker than it appears. Rather than directly creating jobs that pay workers, the $15 billion is going into tax breaks for businesses. The convoluted hope is that the money will "encourage" the recipients to hire a few people who're suffering from long-term joblessness. This trickle-down approach is even more pathetic than trying to fight a house fire with a squirt gun, for it doesn't even put the squirt gun in the hands of the people caught in the fire.
What the Democrats have done is to pass a do-nothing Republican bill, a reality that was blurted out by Sen. Orrin Hatch, one of the five GOPsters to vote for it: "This is a conservative approach to help put our economy back on track through tax relief, not government spending."
What a fraud. And an insult. Remember when Wall Street bankers shouted "Fire!" two years ago? Both parties rushed to the rescue, not with "conservative" tax relief, but with trillions of public dollars that they put directly in the hands of the same Wall Street arsonists who started the fire.
We expect pious Republicans to consider millions of struggling American workers to be less worthy than a few greedheaded bankers, but not the Party of Roosevelt. Yet one Democratic leader said of this feeble bill, "Better something than nothing."
Maybe they're fooling themselves -- but not us, and certainly not the jobless. This bill is nothing. And if Democrats don't stiffen their spines, they'll be nothing, too.