Friday, July 8, 2011

Prez Obama says uncertainty over the debt ceiling has hindered hiring

PressDemocrat.com The Press-Democrat Santa Rosa, CA:
"Obama: Still differences on debt, new talks Sunday
By JIM KUHNHENN
Associated Press

WASHINGTON (AP) -- Beset by a weak jobs report, President Barack Obama on Friday called for swift action by Congress to raise the nation's borrowing limit, saying the uncertainty over the debt ceiling has hindered hiring in the private sector."

So now the blame for a failed economy and loss of jobs is ... because we are not in more debt???

Here's a tip for Congress and the Prez, add it to the book Letters to President Obama: Americans Share Their Hopes and Dreams with the First African-American President

Borrowing money does NOT create jobs. There is no such thing as an "entitlement", every American is "entitled" to work to earn what they want/deserve. Expecting the Government to hand you everything, from food to mortgage subsidies to medical care is as un-American as things can get. This country was built on hard work - blood, sweat and tears; to wax philosophically.

Instead of increasing the benefits to encourage unemployment - a more useful approach would be to help small businesses survive. The bulk of hiring is done by small business - not the mega corporations or government agencies. This is a fact, look it up. Small businesses should receive INCENTIVES to hire, not receive PENALTIES when they create jobs. Currently, the byzantine tax laws make it extremely difficult to manage a large payroll without having to hire an outside (expensive) accounting firm. Beside the direct tax LIABILITY of EVERY employee in a company, the new penalties include mandatory medical insurance when 50 or more employees are hired. It makes no sense for a small firm that has just under 50 employees to even consider expanding and hiring more workers - since they will be severely penalized if they try to create more jobs.

Providing SMALL businesses with tax breaks IF THEY CREATE NEW JOBS will solve most, if not all, the current problems. Stop: read that again. SMALL business, not mega WAL-corporations. Tax breaks = sensible taxation; currently small companies are taxed TWICE, the business entity pays income tax and the owners pay tax again when they draw any income from their own company, where many owners put in upto 80 work-hours a week. A disincentive to even operate a business, yet many do, and even after being hammered with ridiculous regulations and absurd taxes; some small businesses may even prosper. The current logic originating from the White House is to tax small business out of business. Putting them out of business will REDUCE tax revenue, the killing of the proverbial golden goose. Reducing the tax burden of small companies will NOT reduce any tax income for Uncle Sam - they are HIRING workers, workers who will get paychecks and generate payroll taxes. The newly hired will stop draining the social programs, thereby REDUCING the deficit. Yes, reducing taxes WILL reduce the deficit. It is as simple as that.

Put America to work, don't worry so much about the loss of entitlements. Social programs may take a hit today, but putting the effort and tax breaks into CREATING JOBS will bring those benefits back tomorrow, and we won't even have to borrow $14 Trillion to pay for them.

And for those who have not already read it, Animal Farm is a must read: