lorddarley

Obama's Role in the Market's Next Breakout

What a shame. Not a penny of the House bill is dedicated to tax credits to induce solvent, non-failed, companies to maintain and expand their US payrolls, or to give real tax relief to working Americans.

How much more simple if we abolish the 15% payroll taxes (on the first $106,800 of wages) that penalize most workers, and the companies which employ them. That's about $850 million in 2009. Over 12 months this money could have flowed directly to payroll checks (and to their employers) with a simple computer entry.

Also, regardless of one's views on workers' rights, private employers do not hire when it is difficult to fire. The new government wants to additional workplace mandates, which will reinforce the idea that it is bad business to expand US payrolls.

The decision makers all have public sector backgrounds. They are rehashing failed policies with a welfare bill that poses as "stimulus." We will not be a stronger country one year from now, We will be weaker because of the debt, and our employment base will continue to diminish.

LordDarley