Here is a take on what he said and what he meant. Hope that you will take time to read it all.
The main theme once again was RAISING TAXES which has been his only plan from day one. His use of Warren Buffet as an example of those paying less taxes was not a good one since Buffet has failed to even pay his taxes while all the while calling for more taxation. Not a bad plan when you don't pay your taxes but expect others to do so. But then again Obama's own Sec. of Treasury is a tax evader as well. Nothing surprising here.
Raising capital gains taxes will do nothing but kill job creation but Obama insists that this must be done.
Taxing those who can produce jobs will not create jobs and will not solve the problem.
He said tax cuts for those people and tax cuts for what he calls middle class, you can't have both. so he intends to raise taxes on the very ones who produce jobs and reward those who don't produce anything other than perhaps children that they can't afford.
Cutting the corporate tax rate which he referred to as being the highest was thrown in but then he disputed the idea by asking why big oil corporations should get a break when the low income worker didn't and he said you can't have both. So much being serious
on reducing corporate taxes . It's time to reduce the corporate tax.
He said the plan would build schools.
"The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed Internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures."
Sorry but it is not the job of the government to build schools, that is for the States. Now if he wants to cut spending and see that States are the beneficiaries of these cuts the well and good. Nothing else in this part of his plan will create jobs now or in the future.
"...we'll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy.
This idea came from a bill written by a Texas Republican and a Massachusetts Democrat. The idea for a big boost in construction is supported by America's largest business organization and America's largest labor organization. It's the kind of proposal that's been supported in the past by Democrats and Republicans alike. You should pass it right away."It is not the job of Government to control job projects and award them to who they "deem" to be right for the job. However it is a nice payback to UNIONS. I remind all that one of the biggest boondoggles in our history was created by a Texas politician by the name of Bush and a Massachusetts Democrat by the name of Ted Kennedy. It is known as NCLB.
"Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they're adding teachers in places like South Korea, we're laying them off in droves. It's unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong."
It is not the job of government to put teachers to work. It is a nice payback for teachers unions however. Again that is the duty of the States and should be funded by the states. One way is to eliminate the NCLB and all the regulations that it entails and takes money from the States in order to comply with NCLB rules.
Tax cuts for business hiring is not a job creator. Cutting their taxes and the number of regulations they have to comply with is. His mention of this was to brag that he had found 500 regulations that would be cut but then said no regulation that was deemed a harm would be cut. The very regulations he refers too are the ones that killed job creation in this country and sent them overseas.
Tax cuts for hiring returning Vets falls into the same category and fails to create jobs. Vets already have a 10 point preference in hiring but that has not created jobs now has it?
"Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and dignity of a summer job next year."
Since when did the government get into the business of making summer jobs for kids? It is not a job creator but a detriment to hiring those who are out of work .
$4000 bonus for companies who hire those unemployed more than six months is nothing more than another boondoggle akin to his failed stimulus or cash for clunkers. It will only cost the tax payers money. The average time of those unemployed is now over 32 weeks in duration. This number also includes all unemployeed from age 16 and up. So once again we see another attempt at a failed stimulus plan.
Building infrastructure, roads and bridges was the only idea which is Constitutional. The constitution says that the Congress can approve moneys for building of "post roads". Of course this idea was replaced somewhat by building of "national defense roads" during the Eisenhower administration. So yes this part of his plan may have some credence but it will take months to get this off the ground and do little for immediate job creation. Of course Obama says that he knows of a company that is ready to go to work next week on building a bridge in Kentucky. Well, Kentucky should be funding this bridge in the present and leave the long term to be figured out.
Extension of Unemployment is not a Stimulus but Obama seems to not understand this. Cutting those off who have been laying around for over two years would do more to stimulate these people than giving them more money not to work. Obama doesn't get it.
The Democrats don't get it but it plays well in an election year.
"Pass this jobs bill, and the typical working family will get a fifteen hundred dollar tax cut next year. Fifteen hundred dollars that would have been taken out of your paycheck will go right into your pocket. This expands on the tax cut that Democrats and Republicans already passed for this year. If we allow that tax cut to expire — if we refuse to act — middle-class families will get hit with a tax increase at the worst possible time."
If this idea was so good why has it not done anything that was promised. Just a re-run of a failed plan which proves that Obama still doesn't have a NEW plan . The so called tax cut actually cost the average family more since they had to pay income taxes on this fiasco. The same thing will happen again since the IRS has yet to change the policy on this.
" the trillion dollars of spending cuts I've already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts;"Fact is it does nothing to reduce the deficit in the long run and actually will add to the debt. They raised the debt ceiling 2.4 trillion which they will spend over the next 18 months while they cut expenses 2.4 trillion to take place over the next 10 years. If you belive this will stick then I have beach property in North Dallas to sell you. So in fact this plan is only paid for through smoke and mirrors and Leftist Math.
He failed to say how he wanted to change Medicare. The best way would be to say, I will repeal my Obamacare . That would help Medicare and create jobs. Companies do not hire because of the uncertainty of what faces them in Obamacare. So far there are over 1 million words in the regulations in effect in Obamacare so far with more to come. This does nothing to encourage expansion of business or hiring of more employees.
Time for Obama to admit his Obamacare is a big part of the problem and then repeal it.
"...to help responsible homeowners, we're going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent — a step that can put more than $2,000 a year in a family's pocket, and give a lift to an economy still burdened by the drop in housing prices."What makes Obama think that more government interference in the housing market will create jobs or stimulate the economy? Many of the people in that situation could not afford the houses to begin with but thanks to another failed government boondoggle created by Carter and perpetuated by Clinton called the Community Reinvestment Act . Congress controll by the democrats refused to hear the warnings of the Bush Administration and insisted that Mac and Mae were in good shape thanks to Barney Franks and Dodd.Now Obama thinks more of the same will create a different result. That is insanity or stupidity depending on how you define such action.
"Now it's time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama, Colombia, and South Korea — while also helping the workers whose jobs have been affected by global competition."
Then why has Obama been sitting on these agreements since he took office. They were created under Bush in his last term but yet Obama has refused to act on them. Why? because they didn't give Unions the advantage that he wanted so they have been tweeked to do just that and now it is urgent to get them passed, just in time for election and paybacks to UNIONS. They will do little to nothing to create immediate jobs.
"We should have no more regulation than the health, safety, and security of the American people require. Every rule should meet that common sense test.But what we can't do — what I won't do — is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades. "Then he need to immediately repeal Obamacare which was pointed out earlier will create over a thousand new regulations that will strangle job creation. He need to rid the country of the EPA which has made laws without consent of Congress that has done more to kill jobs and the economy than anything else in the history of this country. It is evident that he is not serious about removing regulations that will hinder his agenda and cause higher taxes and higher cost for Americans.
Obama's use of Lincoln and building railroads was disingenuous at best. The government did provide dollars but not the way Obama wishes to provide them. Each [ railroad] was required to build only 50 miles (80 km) in the first year; after that, only 50 miles (80 km) more were required each year. Each railroad received $16,000 per mile ($9,940/km) built over an easy grade, $32,000 per mile ($19,880/km) in the high plains, and $48,000 per mile ($29,830/km) in the mountains. This payment was in the form of government bonds that the companies could resell. To allow the railroads to raise additional money Congress provided additional assistance to the railroad companies in the form of land grants of federal lands.
Land Grant colleges were just that. Congress allowed them to be founded but not paid for by the government. The States were responsible for paying for them and building them. Many of the schools received money from business men such as Carnegie and others, not the government. This is not Obama's plan. To him the government should foot the bill. Well folks we are the government and it is We The People who will foot the bill on yet another fiasco put forth by one who has no clue about the economy, job creation but understands only one thing, getting relected and appearing as the good guy. Narcissism at it's worst.
Furthermore he was less than honest when he said this:
"and listen to every good proposal, no matter which party comes up with it."Actually he just plain lied because Harry Reid has been holding up a whole list of job and economic plans submitted by Republicans months ago. here is the list:
The Reducing Regulatory Burdens Act (H.R. 872), which would halt duplicative federal regulations on farmers and small business owners that are impeding job creation.
The Energy Tax Prevention Act (H.R. 910), which would stop the federal bureaucracy from imposing a job-destroying national energy tax.
The Clean Water Cooperative Federalism Act (H.R. 2018), which would restrict the federal government’s ability to second-guess or delay a state’s permitting and water quality certification decisions under the Clean Water Act once the EPA has already approved a state’s program, preventing approval process delays that cost jobs and leave businesses hampered by uncertainty.
The Consumer Financial Protection & Soundness Improvement Act (H.R. 1315), which would increase consumer protection and government accountability by eliminating the ability of Dodd-Frank’s unelected Consumer Financial Protection Bureau Director to unilaterally carry out regulations that hurt job growth.
The Restarting American Offshore Leasing Now Act (H.R. 1230), which would help to address high gas prices and support the creation of new American jobs by increasing offshore energy production.
The Putting the Gulf of Mexico Back to Work Act (H.R. 1229) and the Reversing President Obama’s Offshore Moratorium Act (H.R. 1231), which would help to put thousands of Americans back to work by ending the de facto moratorium on American energy production in the Gulf of Mexico in a safe, responsible and transparent manner by setting firm timelines for considering permits to drill.The Jobs and Energy Permitting Act of 2011 (H.R. 2021), which would streamline the permit process for American energy production to help lower prices and create tens of thousands of new jobs.
The North American-Made Energy Security Act (H.R. 1938), which would require the federal government to make a determination by a date certain on whether or not it will allow the Keystone XL pipeline expansion, which is projected to directly create 20,000 jobs and support the creation of thousands more, to move forward.A Budget for Fiscal Year 2012 (H.Con.Res. 34). With Washington’s failure to control spending hurting job creation in America, the House has passed its budget, while the Senate has not yet considered a budget of its own.