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Wednesday, January 19, 2011

Tax Credits For Jobs Should Go To Workers

Yahoo Excerpt:
The deal would extend a $4,000 tax deduction for every job created for companies that have less than $5 million a year in gross receipts, Rep. Robin Vos, R-Rochester, told The Associated Press.

Also passed on a partisan vote was a bill to eliminate the corporate income and franchise taxes on businesses that relocate to Wisconsin.
Just swell.

The current narrative out of Republicans is that there are plenty of jobs. Really. The problem in their view is Americans who are fit to work would rather collect unemployment benefits than work. Paul Ryan believes this. That's why he voted against extending unemployment benefits when it stood alone for passage in Congress. Once the GOP were able to hold the unemployment bennies hostage in exchange for tax cuts for the wealthy, Ryan then voted for it. Ryan of course believes that the best incentive for the unemployed and people without health care is punishment. Take away those bennies, make them hungry for a job, put their backs against a wall and they will get a job and hunt for affordable health insurance.

So, why are state governments offering cash and tax incentives to wealthy individuals and businesses when many of these folks are sitting on hundreds of millions of dollars if not billions in collective wealth? Why not instead offer currently unemployed workers and those still collecting unemployment benefits a $1,000 annual cash pay-out when they find a permanent full-time job and are able to terminate their benefits early? Do this every year for the first two or three years. Why not pay an additional $2,000 cash pay-out to those who are able to leave state-run health care and join their employer's group plans? Wouldn't that be worth it? Actually, it would be a bargain for the state. Plus, putting extra money in workers pockets would increase consumer spending and demand for goods and services instead of padding the profits of wealthy businesses. If Republicans really believe the jobs are out there and some people only lack the incentive to work - then they should create the means to reward - not punish - those they want to inspire.

But, if state government continues following the backward “regressive” ideology now prevailing in Madison under Scott Walker and the republican legislature, Wisconsin will increasingly resemble a banana republic corporate welfare state – a business climate in which the state’s most profitable industries pay little or no taxes not only grow ever dependent on the government hand-outs, but will shamelessly demand the back door tax credits remain permanent in order to stay economically viable with their local competitors. Where income and property tax reduction is impossible for the wage slaves and modest home owners because they will be the “stakeholders” forced to pay into the ever-expanding welfare state slush funds for the wealthy rather than be allowed to keep more of their money in their pockets to support free market demand principles for job creation; where the most important revenue streams to businesses for job creation are no longer generated from the products and services they sell, but in the circular tax revenue process developed and lobbied by corporate governance to recapture the lost profits they believe incurred by overpaying the spoiled and lazy American worker; and where the spirit of free market risk-taking and good government is smothered by a massive web of crony capitalism from an all-providing corporate owned centralized government.

Welcome to Wisconsin.

1 comment:

Anonymous said...

Amen brother.

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