Off-Topic: Barry OCarter finally gets something....sort of

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	Name:	MartiniMan -
	Subject:	Barry OCarter finally gets something....sort of
	Date:	9/7/2010 3:54:58 PM

Well, OCarter seems to have finally figured out that spending $900 billion on porkulus sends us to almost 10% unemployment so now he is going to try something new......tax cuts for the productive. Duh! The reason I say sort of is because he is only half right, which of course is a big improvement for him but not quite good enough for the country. His tax breaks are targeted towards a certain behavior and will not have the desired effect. He is now proposing small business tax breaks for hiring people. This will not work as he hopes because: a) many of the tax breaks will go to small businesses that would have hired anyway (ie, no net benefit); b) no small business is going to take on a huge liability of an employee for a lousy $10K tax credit or whatever they come up with; and c) the small businesses have to believe that there is a legitimate reason to hire an employee, as in an increase in customer demand, and as poll after poll shows there is no reason for that optimism.

Yes, the tax break will help but it will not spur job growth. What spurs job growth is to reduce tax rates for all Americans and reduce Federal spending to get the deficit under control so the productive will believe that their long term prospects justify adding employees. You have to believe that because with increased regulation and legislation like Obamacare it will be more and more expensive to have employees so you will be very reluctant to hire. Also, studies have demonstrated that in order for tax policy to spur long-term investment and long-term job growth it must have an element of permanence. This latest addition to the deficit is neither long term nor will it spur much job growth. However, at least it shows he can finally figure something out even if he eventually does it the wrong way.

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Barry OCarter finally gets something....sort of - MartiniMan - 9/7/2010 3:54:58 PM

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