Obama hasn't filed "Jobs Act," Republican files his own! What happened to "pass this now?"

Originally posted by beezzer

Originally posted by links234
Harry Reid submitted the bill in the senate, S.1549 American Jobs Act of 2011 submitted September 13, 2011.

Yup. I do believe it has to be presented to the House, though. Not the senate.

Article II Section 7. All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.
jw

reply to post by defcon5

By taxing them, the government can at least ease up on the middle classes taxes, and hopefully that will put more money flowing back into the system as the middle class does not have the assets to hoard money like the elites.

Either you do not really know about this, or you are deliberately misleading everyone.

Let's take the example of GE.
CEO is Barack Obama's chief financial advisor.
Made $16,000,000,000 profits last tax year.
Received $1,000,000,000 in gov't work and credits.
Paid $0.00 taxes.

Let's look at GM.
Received $43,000,000,000 in bailout money.
Us taxpayers projected to LOSE $14,000,000,000 (if stock trades above $55.00; it trades at $22.00 to $24.00).
Received tax WAIVERS that will reduce GM's U.S. tax bill by an estimated $14 billion in the coming years, and its global taxes by close to $19 billion, according to a company filing.

The underlying tax rate is meaningless when Obama gives his favored industries enormous "bonuses" from OUR pockets!

Not impressed?

What about Obama's biggest favorites in the housing and banking business?
AIG, $0.00 tax.
Bank of America, $0.00 tax.
Citigroup, $0.00 tax.
GMAC/ALLY, $0.00 tax.

jw

reply to post by jdub297
Thank you for the clarification.
*Tips the hat*

reply to post by marg6043

Now the Administration of Bush bailed out the banks including the foreign banks that were lined to the too big to fail, that was trillions on tax payer money.

No! You are confusing different programs and different "bailouts."

Bush put TARP (I) into place with specific proivisions on repayment and limits on CEO pay and bonuses.
ALL of the largest bank recipients have paid 100% of TARP I, plus PROFITS!

Obama put into play TARP II, III, the buyouts and stimulus. He extended them beyond banks to other industries and favored recipients. We LOSE $40,000,000,000 on the auto (union) buyouts, alone. We also own AIG, BofA, CITI, (and their junk mortgages) and GM. All of their stocks are trading DOWN. We will lose on each of these as well.

jw

reply to post by ldyserenity


Oh, some here see it just like you Idyserenity but the truth is that you can not fight something when our own government sleeps with the same corporate entities that are lobbying to keep things the way they are.

That is why we can not change anything in this nation with votes because private interest runs the government.

reply to post by jdub297


I understand what you mean, but the Tarp money was to be used as needed and that extended into the Obama administration so that is why it was extended until the funds were used. Yes it should not be like that but that is the way government works.

Still Obama wanted to tax the bailed out banks but the Republicans block the idea.

The tog of war between the two elite parties in this nation is screwing the tax payers and some can not understand what that means.

reply to post by Rockpuck


Sadly is not going to happen because all we got left in this nation to be proud of is the mighty military forces, anything else has gone down the crapper.



But you are right, two wasted wars to feed the military private interest has done a darn thing to help the economy.

Originally posted by Rockpuck
reply to post by ldyserenity

 

I agree! ( actually I don't believe in "free trade" with anyone, even Europe) but I won't write my congress critter. No, last time I did that I got a snarky sarcastic reply back telling me in short what an ignorant little school boy I was, and should leave matters of governing, and for that matter my general opinions, to my superiors.

WOWZA!!! OMG!!! They were condesending? No that can't be, I am being sarcastic here, I realized they probably would say something like that. They think they're so intelligent, yet look at the debt it just proves how retarded they are, so my snarky comeback would have been "oh yeah you're doing such a wonderful job that's why Americans each owe 47,000 and some odd dollars, that's every man, women, and child in America owes for your national debt that YOU Created oh mighty one"

reply to post by defcon5

But lets just look at the second richest man in this country, Warren Buffet.
How many people does he employ?
What does he produce?
How does taxing him hurt the US public considering HE PROVIDES NO SERVICES to jack up the price of?

OK, now we know -you just have no idea what you are talking about.

Berkshire Hathaway (Buffett's corporation) INVESTS in troubled businesses to save them and keep them afloat.
Ever heard of Burlington Northern Santa Fe? Bank of America?

It insures others. ever heard of GEICO? Generel Re?

Berkshire's insurance business and reinsurance business provide coverage for individuals and other insurers against catastrophic and accident losses.

It makes things. Ever heard of Fruit of the Loom? Acme Brick? Acme/Justin Boots? Clayton homes? Benjamin Moore? Johns Manville? Sees Candies? Dairy Queen?

You really should try not to just follow the conventional wisdom or jump to conclusions.

jw

Originally posted by marg6043
reply to post by ldyserenity

 

Oh, some here see it just like you Idyserenity but the truth is that you can not fight something when our own government sleeps with the same corporate entities that are lobbying to keep things the way they are.

That is why we can not change anything in this nation with votes because private interest runs the government.

I agree, but I'd rather try at least... I would not give up on the hope it will change and the fortitude to try to impliment a change for the better...I don't know what that entails but, part of me thinks it's about dropping out of the system. I hope many people will simply drop out of the system, that will certainly put a wrench in their machine.

I realize this is easier said then done, that's the conundrum.

Originally posted by defcon5

Originally posted by mugger
So justify wasting trillions of tax payer money for one failed stimulus and he asks for another/
Were did that money go? Summer of recovery was laughed off by this buffoon. Shovel ready jobs?
I think Obama already gave this same speech a few years ago.

Obama is not the HR department at these corporations, there is NOTHING he can do to force them to hire people. What he CAN do is penalize them for not hiring people, which is what I have been saying, in so many words, since the beginning of this thread.

You know, I see why you chose your avatar.

Let's look at Obama's stimulus and "shovel ready" jobs projects.

In EVERY state, no contracts could be awarded until the Dept. of Labor approved the proposed pay scales, and the submitted pay scales had to compare with the Union "prevailing wage."
Obama WAS the "HR department" for stimulus projects. It added months and months to the time it took just to get a single job started. It multiplied administrative costs until they ate up most of the allocated money!

In Seattle, they got $20,000,000 to hire and train workers to weatherize poor peoples' homes and created 14 solar energy jobs, Nevada spent $12 million to produce five jobs.
California was awarded $186 million in federal stimulus money to weatherize homes. So far, the program has created 538 full-time jobs., and they're not even in the same business anymore.
$59 million to train people for green jobs in California produced 719 jobs in OTHER industries.
SolFocus designs solar panels in the United States, but the bulk of its employment is in China where the panels are actually made.
Johnson Controls (Obama was there, overseeing the recruiting!) turned $300 million in green technology grants into 150 jobs — that’s $2 million per job.
Solyndra (there were Obama and Biden and Chu) got $535,000,000; as of today has NO jobs. Their Chinese partners have hired thousands with our money!
In some places it averaged out to $250,000 per job created.

Get a grip.
Deny ignorance.
jw

Originally posted by ldyserenity
reply to post by jdub297

 

I think we should impose tariffs and here's a good list where to start:
USA Export Import Portal

How do you reconcile that with Obama;s DEMAND that Congress approve "immediately" the free-trade agreements he's got ready (but hasn't sent to Congress, yet) with South Korea, Columbia and Panama?

jw

Originally posted by jdub297

Originally posted by ldyserenity
reply to post by jdub297

 

I think we should impose tariffs and here's a good list where to start:
USA Export Import Portal

How do you reconcile that with Obama;s DEMAND that Congress approve "immediately" the free-trade agreements he's got ready (but hasn't sent to Congress, yet) with South Korea, Columbia and Panama?

jw

That's the problem, everyone wanting to go the opposite direction... definition of insanity doing the same thing over and over again expecting different results~~~ Einstein... We see this policy has done nothing for the USA... who was it whom spoke of the Sucking Sound made of the jobs leaving our country? Oh here hold on will find the link. Oh yes, Ross Perot
Was he wrong? Nope not from what I have seen he was DEAD on!

Let me reiterate : Obamas jobs act = Garbage and so, probably this guys if it is similar!

reply to post by jdub297


Lord have mercy, more trade agreements? I am getting tired of going into the food chain stores and trying to find US produce, you know grown and produce in the USA I went a few days ago looking for Florida oranges well the oranges they have were from Africa, how in the hell you get Africa oranges, what happen to California and Florida ones? incredible.

Then we in GA are proud of our peaches, but went you go to the chain stores you can not find any. what the hell

I see that his gives corporations a tax cut which in and of itself is a bad thing unless there are tariffs on imports, there is a lot of other stuff tehy need to implement to make this really work. It goes far beyond what this governor is trying to do, unless we stop the excessive spending this will not work. Unless we make it more profitable to stay within the US, this will not work In other words they shouldn't get the tax cuts until the reopen their doors in America and should be tariffed for importing from China North Korea or anywhere for that matter... let's make it cheaper for them to stay or reopen their doors in America... but the tax cuts alone will not do that for the simple fact that as exporters we are tariffed by most other nations, I posted a link to the list...

reply to post by ldyserenity


Obama new stimulus is only 50 billions more than the last but just like the last is going for the same darn things, people should be very worry about this, Why? because it seems that to keep teachers and police working we many need yearly stimulus into the economy regardless of who is in power. States can not balance their budgets anymore than the federal government can.

reply to post by marg6043


I agree
The madness never ends!!!
I don't see much hope for the future all we can hope is that trying to prop up their house of cards, they will actually cause it to implode...then it may be blood and tears for awhile to pick ourselves up but I invite the opportunity, what doesn't kill me makes me stronger...and if I die, oh well at least I am free for sure...and maybe I wouldn't have died in vain because there still will be someone left to rebuild if not me as part of it.

reply to post by marg6043

I guess you can not understand that businesses in America are all for profits, they already getting incentives and tax brakes they use that to keep profits while minimizing labor, that is what is going on, that is no so hard to understand.

I don't think YOU understand. If I cannot make a profit on the products I create or the services I provide, why would I want to do it in the first place?

If I can deduct the "cost of goods sold," ( a "tax break") then I might have something left over after taxes to buy some food or pay the rent.

If I can deduct the money I pay my landlord, phone company, secretary and my helper (overhead - another "tax break"), I might have enough after taxes to buy a phone, computer and lamp.

If I get a"credit" for hiring an ex-convict to keep up the maintenance and help out (an "incentive), or replace my old, wasteful copier with a newer, efficient one (another "incentive" and amortize it a little faster ( a "tax break") I might have more time to do more work and hire more helpers.

If I incorporate, to protect my family, home and business from frivolous lawsuits, is my "corporation" now evil for taking breaks and credits the law says I'm entitled to?

If I can do this even better by adding 10X as many of me and helpers and secretaries, will I become evil then?
100x?
At which point do you and the government get to say that I've become "successful enough?"

If my margin of "profit" is only 20% ( but extremely high in almost ANY industry), how much of MY earnings should I be able to keep?

Or is it, "How much should you and the government ALLOW me to keep?"

deny ignorance

jw

reply to post by jdub297


You're not wrong, but you're not completely right either, When NAFTA and CAPTA is one sided (meaning trade into the US is free, but exporting costs the US) who do you think it's going to affect? It affects our corporations and our jobs...not Africa's so we need to address that issue first and foremost!
In other words why do we keep trying to fix the symptom instead of addressing the cause?

reply to post by defcon5
Excellent post. It is such a shame we have so many lemmings in this country that will follow and accept anything that comes their way.