President Obama is traveling across the United States promoting his jobs plan and asking people to contact their Legislature to pass this bill. A lot of talking points exist on both sides of the aisle. Here is the link to the 199 page bill: http://www.whitehouse.gov/sites/default/files/omb/legislative/reports/american-jobs-act.pdf
Let's all take a moment to read it and discuss it from a firsthand account of the bill.
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In reading this framework - it is rumored that Obama will be presenting something more detailed on Monday - I don't see anything really new that has not already been proposed. I did find it interesting that loopholes are built into the use of "Made in America" raw materials unless of course it costs more than 25% of the proposed costs.
ReplyDeleteMy question is why does the President ignore industries that are ready to hire now! Right now in North Dakota they need people to assist with exploration,extraction and establishing oil and natural gas pipelines. Why not push for those jobs now while laying the foundation for "green" energies?
Maybe because those industries don't need any help recruiting labor so why subsidize what is already a booming economy? In other words, why give away money to people who don't need it?
ReplyDeleteAnother example would be farm subsidies that go to farmers for crops they are already growing. Especially when those commodities are enjoying record highs 2-3 times what has been seen historically.
Giving money to these groups is nothing but rewarding lobbyists.
Truman - please enlighten me on how opening up exploration,extraction and refining of oil and natural gas in the United States equate to a subsidy? Isn't the goal to get people back to work? If so, why not go where the demand is versus backing failed industries?
ReplyDeleteViper, making profitable businesses more profitable by using government levers (financial or otherwise) to expand their business IS A SUBSIDY. Obviously the concept of opportunity cost is lost on you.
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