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how this can be sold as part of a jobs plan? Supposedly, once again, this tax cut is only going to be extended another year. Reports were that the benefits by those who needed help the most were gone by April 2011 because of rise in gas prices. So, the current plan is to up the benefit (from 2% to 3.1%). With rising increases in health insurance and food costs, will it last until May 2012?
The people who benefited the most (those making over %106,800) were reported to have saved their dollars rather than spending them - think they'll do the same next year?
How does this create jobs?
As for the plan to give the same temporary tax cut to employers, how many employers create new permanent jobs based on temporary cuts? And the tax credit - will employers create a $50,000 permanent job for a one-time $4,000 credit? This proposals says the new employee can be hired for at least six months. Will currently employed workers lose their jobs to make room for the new tax credit hires, and move to the unemployed rolls?
The President said this part of the jobs bill (payroll tax cuts and hiring tax credits) will be paid for. Are these short-term "fixes" paid for with some of long-term spending cuts proposed and will future congresses honor those long-term cuts?
Last, these extended cuts to the viability of the Social Security system need to be explained; why is the system being funded from the general fund and added to the national debt?
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