The American Jobs Act

Did anyone watch the Obama Job Bill speech? To be honest, I didn't. My understanding on the job bill will be to cut taxes for the small businesses. Small businesses do need this money to hire more employees. According to http://www.foxnews.com/politics/2011/09/12/obama-prepares-to-send-c... "If we're given the flexibility to spend it as we see fit and not as they see fit, I could see some benefit." Isn't the bill suppose to used for hiring employees, not to use it as they "see fit"? What if the business decides to spend the money that the government gives them to create job, and instead, they decide to use it to update their store? This may create some jobs to update their store, but after the store is updated, the workers would no longer be needed. According to http://news.yahoo.com/obama-touts-jobs-bill-benefits-small-business..., Obama said Wednesday, "We've got to make sure everybody pays their fair share, including the wealthiest Americans and the biggest corporations." This is just me, but increasing taxes on the wealthy and the biggest corporations going to create jobs? And, according to http://blogs.wsj.com/washwire/2011/09/12/obama-congress-may-not-pas..., "Mr. Obama announced Monday that he wants to pay for his plan by imposing tax increases on Americans making $200,000 a year or more, on corporate jet owners and on oil and gas companies, again, if you tax the wealthy, how will this help? And if you increase taxes on gas and oil companies, won't that hurt the American people instead of helping the American people? Won't that cost more for the American people to go to work, thus making the working Americans has to spend more money to go to work; therefore, spending will go down, how will this help the economy? Think about it, the wealthy are the ones that owns companies and the bigger corporations hire employees, so how is this going to create jobs? According to http://www.washingtonpost.com/politics/obama-proposes-higher-taxes-..., he also said his proposals for paying for his jobs package ask more from those who can afford it in exchange for getting the unemployed back to work .He said that “His proposals for paying for his jobs package ask more from those who can afford it in exchange for getting the unemployed back to work. In another article, Obama Proposes Higher Taxes for the Wealthy to fund jobs bill. According to this article on http://www.washingtonpost.com/politics/obama-proposes-higher-taxes-..., it states that "The White House said Congress should pay for the jobs plan by imposing new limits on itemized deductions for individuals who earn more than $200,000 a year and families earning more than $250,000. Eliminating those deductions would bring in an additional $400 billion in revenue, aides said. The administration also recommended ending subsidies for oil and gas companies and changing the depreciation rules for corporate airplanes. So, let me get this straight? The bill will decrease taxes on the small businesses to create jobs (which is good), but will limit itemize deductions to the and/or families earning more than 250,000.00. So let me get this straight, this bill will decrease tax cuts, but eliminate deductions so that the individual/family can pay more taxes..wouldn't that hurt the individual that owns the small business? So, again, how will this create jobs? The owner is just going to have to cut expenses, which means cutting jobs. Obama said his proposal would " create 1.9 millions jobs, while reducing the 9.1% unemployment rate by a percentage point; he also said it would add two percentage points to the gross domestic product, according to http://content.usatoday.com/communities/theoval/post/2011/09/obama-.... Now, the GDP- should go up when unemployment goes down, but if it is funded by the government, its an artificial increase that cannot be sustains in the long term, but what happens when the government runs out? And "back in 2009 he promised that the stimulus one would keep unemployment below 8%," said Republican Party chairman Reince Priebus. "Well of course it's still above 9% and it's been that way for many, many months."
If this bill is going to pass, it will take at least 12-14 months to put it into motion because it has to be approved from Congress, when the job bill really needs to be implemented now, not 12-14 months from now. According to http://abcnews.go.com/blogs/politics/2011/09/obama-pitches-jobs-bil..., “Fact of the matter is the next election is 14 months away and the American people don’t have the luxury of waiting 14 months for Congress to take action… These aren’t games we’re playing our here. Folks are out of work. Businesses are having trouble staying open.” Our unemployment rate is high now, think about how high it will be in 12 months. Also, if it passes, I think our debt will increase, not decrease like most economics think. You have to get the money from somewhere, don't you, so wouldn't it increase the debit? And of course, this bill is suggested before election time.
If this bill is not going to pass, what will happen? Will the unemployment rate continue to go up? Will the economy get better or worse? According to http://www.huffingtonpost.com/2011/09/17/obama-jobs-plan-no-divisio..., "A New York Times/CBS News poll released Friday showed nearly half of those surveyed worried the economy was headed for another recession and nearly three out of four said they believe the country is on the wrong track." I am also worried that by passing the bill will create another recession. I don't know about you, but aren't we still in a recession? When the heck did we get out of the recession? Wont this just lengthen the recession? In the article Will Congress Pass Obama's Jobs ,http://www.usnews.com/opinion/articles/2011/09/12/will-congress-pas... "Obama is putting much of his political capital behind the bill, which he argues includes proposals that have been supported by both sides of the aisle in the past. However it has already been criticized some on the right for being just another faulty attempt by the government to spend its way out of the economic downturn. Doug Heye labeled the bill "Stimulus II" and Peter Roff called for a plan that dismantles federal regulations instead. Many on the left aren't happy either, arguing that package is too small. Said Brad Bannon, "I don't see how you can jump start an economy with $14 trillion GNP with $450 billion in tax cuts and spending. The original stimulus of $700 billion was not nearly enough to do the job and this proposal is even smaller." I agree, may be something that is "just another faulty attempt by the government to spend its way out of the economic downturn". Is Brad Bannon right? Is this not enough to "do the job", I have no clue..
So..what is your opinion, pass or not to pass, that is the question. Which one do you think will boost the economy instead of making the economy worse? If it doesn’t pass, will the unemployment rate go up? If it does pass, how much will the unemployment rate decrease, and how long will it take for it to go back up after the government money runs out? Stand up for your freedom and decide what side you want to be on, job plan, or no job plan..You choice, your right, your country!