Politically, It Is DOA, But The Use Of Obama Is A Good Plan?
Obama is expected on Thursday to unveil its plan to put Americans to work. According to initial reports, the plan follows a similar script to the President in 2009: government stimulus.
Specific plan provides $ 300 billion in government spending through tax cuts, infrastructure spending and aid to state governments and local levels.
"Nearly half of the stimulus package would come from tax cuts, which include expansion of a reduction of two percentage points of social tax contributions paid by workers expires Dec. 31 and a further reduction in the proportion of the tax paid by employers, "Al Hunt of Bloomberg relates.
The GOP is not possible to cut taxes, but is likely to reject the whole plan of the face, calling it another failure of the measures.
Aside from the reaction of Republicans ("We do not like!") And the likelihood of passage ("It is my body"), in the video that accompanies the application Ticker Henry Blodget Yahoo Finance Journal editor Daniel Gross economy if in fact, the plan is good?
Tax cuts: Tax cuts on wages are a positive factor for the industry as it benefits both business owners and employees. In other words, it is a "tax cut for people who need it," says Gross. "This is a regressive tax because it is imposed only on your first $ 106.00 of income, "he said. "Probably (those who benefit) will take that money and spend it, boosting demand for the good." Unfortunately, Gross believes that the GOP will reject the idea, although it is a tax break. He speculates the Philippine government will accept that if Obama made a concession on the right programs, something the Democratic base will not appreciate.
Infrastructure: It is obviously a good idea, according to Gross. "Our roads are terrible, traffic is bad, construction workers are at rest." What better way to remedy the situation than build and repair roads and bridges? Not only the improvement of living standards, improved infrastructure will create jobs and improve the business. Also, if there was ever a time to take advantage of cheap borrowing costs, it is now, says Gross. Bottom line: If America is to remain competitive against China and other emerging markets in Asia, the country needs better infrastructure.
Direct aid to states and local government: Although the private sector to increase employment, albeit slowly, the work of cutting government. Since the end of the recession, government employees (federal, state and local) have lost nearly 600,000 jobs. The state and municipalities have suffered particularly harsh, less than 200,000 jobs in 2010 compared to 2009. Obama's plan focuses on stopping the layoffs of teachers and first responders. It 's something can go beyond gross. "I have all the things that keep people in their current job."
Specific plan provides $ 300 billion in government spending through tax cuts, infrastructure spending and aid to state governments and local levels.
"Nearly half of the stimulus package would come from tax cuts, which include expansion of a reduction of two percentage points of social tax contributions paid by workers expires Dec. 31 and a further reduction in the proportion of the tax paid by employers, "Al Hunt of Bloomberg relates.
The GOP is not possible to cut taxes, but is likely to reject the whole plan of the face, calling it another failure of the measures.
Tax cuts: Tax cuts on wages are a positive factor for the industry as it benefits both business owners and employees. In other words, it is a "tax cut for people who need it," says Gross. "This is a regressive tax because it is imposed only on your first $ 106.00 of income, "he said. "Probably (those who benefit) will take that money and spend it, boosting demand for the good." Unfortunately, Gross believes that the GOP will reject the idea, although it is a tax break. He speculates the Philippine government will accept that if Obama made a concession on the right programs, something the Democratic base will not appreciate.
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