By: Percy Olive
President
Obama's jobs plan has received a tepid reception from
Republicans, who are willing to consider some of his tax relief proposals, but not his spending plans. His proposal to pay for the plan with limits on tax deductions and closing corporate tax
loopholes is facing stiff Grand Old Party resistance and even
Democrats have pushed back on some of those provisions in the past.
In one of his
speeches he talks about how the political circus should stop and actually do something to help the community. His plan was to spell out a long-term debt stabilizing plan that aims to cut the deficit by about $2 trillion over 10 years. Obama is making his proposal to a special congressional committee that has been charged with lowering deficit by $1.2 trillion to $1.5 trillion.
In this plan that President Obama has it is going to
cause more people to go back to work, such as taeachers laid off by budget cuts. The plan will help put more money in the pockets of the middle class Americans by cutting in half the payroll tax that comes out of every workers pay check. the plan wont add a dime to the deficit and is fully paid for through a balanced deficit reduction plan that includes closing corporate tax loopholes and asking the wealthiest Americans to pay their fair share. All of these things fit in with President Obama proposing the way to increase
employment and head off a
double dip recession.
the president wants to give states and municipalities aid to stop the layoffs of public employees, extend the payroll tax suspensions in place, and give businesses a temporary cut in their part of those taxes. The
total cost would be $447 billion. This plan is to
avoid the return of a recession by maintaining growth and pushing down unemployment rates.
http://www.whitehouse.gov/economy/jobsact
http://www.wtvr.com/news/la-pn-obama-jobs-20110908,0,4334279.story
http://www.eweek.com/c/a/Government-IT/Obama-Defends-Jobs-Act-in-LinkedIn-Visit-321899/
http://www.cbsnews.com/stories/2011/09/17/eveningnews/main20107801.shtml
http://articles.cnn.com/2011-09-08/politics/obama.jobs.plan_1_president-obama-deficit-reduction-political-circus?_s=PM:POLITICS
http://www.whitehouse.gov/blog/2011/09/08/american-jobs-act
http://www.americanjobsact.com/
http://www.laboremploymentlawnavigator.com/discrimination/presidents-american-jobs-act-contains-new-cause-of-action-against-employers/
http://money.cnn.com/2011/09/26/news/economy/obama_linkedin/index.htm
http://www.bloomberg.com/news/2011-09-28/obama-jobs-plan-prevents-2012-recession-in-survey-of-economists.html
