"Schumer, Hatch offer payroll tax break for new hires"

[CommonSense1]

More smoke-and-mirrors.

Riiiiight.... Give them a one-time $5,000 tax credit for new-hires (bet lots of current workers will get fired and re-hired the same week, you just wait) and let the corporate taxes for small business making over $200,000 in GROSS receipts take a massive tax hike during the proposed Obama 2011 budget and by letting the Bush tax cuts expire.

Doesn't Obama get it that employers need to know the COST of an employee before hiring someone? Doesn't he get it that the uncertainty/instability he is causing is negatively affected the job market and the financial markets? Doesn't he get it that increasing payroll taxes cause people to hire less? Doesn't he get it that unless you have across-the-board tax credits banks won't lend, companies will not hire or expand, that people are fearful of buying anything major, like a house or car??

Isn't Obama the "smartest person in the planet" with the "highest IQ ever"?

Originally Posted by delusianne

Sens. Chuck Schumer (D-N.Y.) and Orrin Hatch (R-Utah) released a plan Wednesday to give tax breaks to companies that add new workers, a proposal that is likely to become a key component of the jobs bill Senate Democratic leaders are hoping to unveil this week.

President Obama has called for employers to receive a $5,000 tax credit for each new employee they hire, while other lawmakers have floated different proposals for a job tax credit. The Schumer-Hatch plan, which would allow companies to avoid paying Social Security taxes for the duration of 2010 on each unemployed worker they hire, appears to have the most momentum in the Senate.

44 - Schumer, Hatch offer payroll tax break for new hires

Link includes a summary of the bipartisan plan.

[ozzie679]

Originally Posted by sanrene

And how do you effectively free up more discretionary income for the consumer?

Not by taxing them, not by taking money OUT of the private sector so the government can spend it. Jobs are the key to a confident consumer who spends.

Another key; ditch the radical legislative agenda of obama.

Consumers WILL NOT start spending if they don't have jobs or are afraid of losing the job they do have. They will not start spending again if they see tax hikes (in obama's budget) coming at them or if they watch while the government continues to increase the debt/deficits through the expansion of government into the private sector.

I'm not sure how to free up money in the shot term. Long term I have ideas that you would completely disagree with.

Also, the average consumer doesn't give two craps about our countries debt. Sad to say, but its true.

[HookTheBrotherUp]

Originally Posted by CommonSense1

More smoke-and-mirrors.

Riiiiight.... Give them a one-time $5,000 tax credit for new-hires (bet lots of current workers will get fired and re-hired the same week, you just wait) ...

As juicy as that sounds, it's not true. I read the proposal, there are checkmarks built in, the employee would have to be unemployed for 60 days prior, etc. But you are right on, this is a "vote for me, see what I did" gimmick!