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The federal stimulus program has saved or created nearly 650,000 jobs through aid to states, infrastructure projects and federal contracts, the Obama administration claimed Friday morning, adding that officials believe they are on track to meet their goal of 3.5 million jobs over two years
The figures do not include jobs indirectly created by the money pumped into the economy through tax cuts, unemployment benefits and aid to states for Medicaid. If those were included, the administration estimates, the tally would rise to more than 1 million jobs saved or created.
“Some of our colleagues are saying that it hasn’t done much, or was a waste of money,” Mr. Schwarzenegger said, sharing the stage with Mr. Biden. “Well, I would dispute that.” He said the stimulus had created or saved more than 100,000 jobs in California, more than half of which were the jobs of teachers, professors and school administrators. The governor noted that some people have questioned whether those teachers would actually have been laid off: without the stimulus, he said, “No, those teachers would have been gone.”
The numbers are deceiving and fraudulent.
Originally posted by marg6043
Now I will like to see what the almost 10% of the unemployed in the nation have to say about this great news.
Originally posted by mavman
I would like to know how they "saved" jobs. Just google unemployment rate.
www.google.com...
This does not look like things have gotten better.
The term saving jobs is just used so it looks like the government did something to help.
Originally posted by mavman
reply to post by Eurisko2012
Kind of like giving a sandwich to a starving person and saying you solved their hunger.
While Obama does favor raising the top two rates, the quote is not true because not all the small business income of those in the top two rates is taxed at the 33% and 35% rates," said Gerald Prante, a senior economist at the nonpartisan Tax Foundation. The bottom line: McCain's claim only works by using an overly broad definition of what counts as a "small business" - and even with that definition, fewer than 2% of business owners would be hit by Obama's proposed rate increase. For those who are affected, the increase would be levied only on a part of their earnings, not all of them.
Originally posted by The Transhumanist
reply to post by Eurisko2012
money.cnn.com...
While Obama does favor raising the top two rates, the quote is not true because not all the small business income of those in the top two rates is taxed at the 33% and 35% rates," said Gerald Prante, a senior economist at the nonpartisan Tax Foundation. The bottom line: McCain's claim only works by using an overly broad definition of what counts as a "small business" - and even with that definition, fewer than 2% of business owners would be hit by Obama's proposed rate increase. For those who are affected, the increase would be levied only on a part of their earnings, not all of them.
How is Obama "attacking" small business with taxes? Check your facts.
[edit on 30-10-2009 by The Transhumanist]
Originally posted by marg6043
reply to post by The Transhumanist
The white house has been under pressure to show any success after spending billions on the economic stimulus.
The numbers are deceiving and fraudulent.
But they have no other choice.
Now I will like to see what the almost 10% of the unemployed in the nation have to say about this great news.
www.politifact.org...
During the campaign, Barack Obama promised to extend a tax break for small businesses to give them a boost during the recession. The tax change raised the expensing limit — the amount that small companies can claim as their business expenses for investments. A sharp-eyed reader brought to our attention a tiny provision in the American Recovery and Reinvestment Act, the economic stimulus package, that did exactly that. Section 1202 of the stimulus legislation raised the limit to $250,000. A May 2009 memo from the Internal Revenue Service confirms the change. We rate this Promise Kept.
The ad says that Obama "promises more taxes on small business, seniors, your life savings, your family." That sounds like a broad-brush statement of Obama's taxation philosophy. But Obama does not promise those things; in fact, he promises more taxes for taxpayers with the highest incomes. McCain's statement is a distortion of Obama's proposals, and we find it Barely True.
Will President Obama's health care plan promote small business and make us more like Europe? It very well might. One possible explanation for the relatively smaller role of small business in the U.S. economy is that concern over access to health insurance makes many people reluctant to strike out on their own and start a small business. The prospect of being stuck without health insurance has to be very scary for a 50-year old with some health problems.
Cap and trade doesn't create any paperwork for families and small businesses. Only major fossil fuel oil companies and big industrial polluters and utilities will track their emissions and obtain permits. Quietly but effectively, the cap will reduce our emissions. Energy prices may rise (as they already are), but revenues from auctioned permits can counteract the effects of price increases through investments in efficiency rebates, direct tax credits, transit infrastructure, and building energy retrofits.
Well-structured carbon emissions caps would foster clean-energy technology at scant cost to consumers. The program would even create jobs