$46B added to the deficit in order to create 100K jobs. That’s $460,000/job. That’s likely 10 to 15 times the salary of the jobs theoretically created. There is no possibility that this would generate enough new revenues to pay for the cuts, even if the new jobs were taxed at 100%.
Cutting taxes for 22M “small” businesses to create 100K jobs means only 1 job would be created for every 220 businesses getting a tax cut – and that’s if the republican best-case scenario proved true.
I think that Eric Cantor and I have radically different definitions of “potent economic stimulus”. This is designed to be incredibly inefficient, ineffective, and wasteful as a “jobs” program.
Could the lies be any more blatant? Promoting this as a “jobs” bill is an insult to the intelligence of every American, and a clear demonstration that republicans are fiscally irresponsible in ideology and in practice.
They can blame President Obama for opposing jobs by not signing it, or the Senate Democrats for not passing it, and never face responsibility for the consequences if it had been implemented. I expect them to accuse the Democrats of playing politics in stopping this moment of insanity.
As long as conservatives continue to pretend that tax cuts create jobs, demand is irrelevant, and low-paying jobs can fuel economic expansion, they will continue to be a knife in the American economy.
It's a bit of a rant, but I'm in a bit of a mood.