PROMISES, PROMISES: Jobs bill won’t add many jobs
It sounds great: A big jobs bill that would hand President Barack Obama a badly needed victory and please Republicans with tax cuts at the same time. But there’s a problem: It won’t create many jobs.
Even the Obama administration acknowledges the legislation’s centerpiece – a tax cut for businesses that hire unemployed workers – would work only on the margins.
Wait… a jobs bill that won’t create jobs…. brilliant!
As for the bill’s effectiveness, tax experts and business leaders said companies are unlikely to hire workers just to receive a tax break. Before businesses start hiring, they need increased demand for their products, more work for their employees and more revenue to pay those workers.
"We’re skeptical that it’s going to be a big job creator," said Bill Rys, tax counsel for the National Federation of Independent Business. "There’s certainly nothing wrong with giving a tax break to a business that’s hired a new worker, especially in these tough times. But in terms of being an incentive to hire a lot of workers, we’re skeptical."
Read More: By STEPHEN OHLEMACHER, AP
Tags: Barack Obama, Jobs Bill, UnemploymentThis website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.


