Posts Tagged ‘jobs tax credit’

Publius

Scott Brown Joins Democrats to Support ‘Jobs’ Bill

by Publius

From the Associated Press:

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A bipartisan jobs bill cleared a GOP filibuster on Monday with critical momentum provided by the Senate’s newest Republican, Scott Brown of Massachusetts.

The 62-30 tally to advance the measure to a final vote on Wednesday gives both President Barack Obama and Capitol Hill Democrats a much-needed victory—even though the measure in question is likely to have only a modest boost on hiring.

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Veronique  de Rugy

Repeat After Me: Tax Credit for Employers is a Dumb Idea When These Guys Have No Customers

by Veronique de Rugy

The definition of insanity is to keep doing the same thing over and over again and expect different outcomes.  The different versions of the jobs bills circulating in Washington DC these days are perfect example of that point.

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See for instance, the  jobs tax credit for hiring new workers idea. What a brilliant example of bipartisan nonsense that is. Pushed by President Obama during his State of the Union address earlier this month and most recently picked up by Senators Schumer and Hatch.

Still no one seems to wonder, why would employers pay a new worker $40,000 to earn a $5,000 credit unless that worker generates at least $35,000 of revenue? Even when the advice comes from economists at the National Federation of Independent Businesses, the largest association of small business owners in the country, it is ignored by the President and Congress.

This about it this way:

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