To ensure that the American Jobs Act is fully paid for, the President has called on the Joint Congressional Committee to achieve additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how the Committee can achieve the additional deficit reduction necessary to meet the President’s goal of stabilizing our debt as a share of the economy and pay for his plan to put Americans back to work via American Jobs Act | The White House.
Fully paid for, come on, really! It’s going to come from the pockets of the middle class. Think about it where does the Government get their money, from taxing the middle class. The wealthy don’t pay, the poor can’t pay. Now, government officials are another story, they get their money from the wealthy who make their money off the backs of the middle class. Seeing a trend yet? The middle class are the ones with the power.
This is how I see the jobs act. Big business will not have to pay the government payroll tax, cutting and suspending $245 billion worth of payroll taxes for qualifying employers, more money for the wealthy. Yes, things included in the act are good. Extending unemployment, and job reeducation. So the money has to come from somewhere, but where?
This my be very simplistic view, but seem more like smoke and mirrors. -RB