Republicans. You Are Put On Notice.

Recently, President Barack Obama challenged Congress to act on a $447 billion job creation bill called, “American Jobs Act,” that consists of tax cuts and new government spending, designed to revive a stalled economy.

The politically moderate plan cuts payroll taxes that pay for Social Security but also adds spending for teachers and school construction as well as, provides an extension of jobless benefits.

Here is how President Obama plans to pay for the bill without adding to the nation's deficit:

1)   Limiting the itemized deductions for charitable contributions and other deductions that can be taken by individuals making over $200,000 a year and families making over $250,000 (estimated $400 billion)

2)   Closing loopholes for oil and gas companies ($40 billion)

3)   Requiring fund managers to pay higher taxes on certain income ($18 billion)

4)   Changing the tax treatment of corporate jets. ($3 billion)

Even though this plan is politically moderate and is needed to revive the economy, do not expect any cooperation from the other side of the aisle.  The above-mentioned series of tax hikes have been previously proposed by the White House and rejected by Republicans. 

So it was unlikely that the White House will win Congressional approval for many elements of the package, which is badly needed to keep the unemployment rate of 9.1%, from rising. 

For example, the spokesman for Republican Boehner was not enthusiastic about the White House proposal regarding the details on how to pay for $477 billion package.  "We remain eager to work together on ways to support job growth, but this proposal doesn't appear to have been offered in that bipartisan spirit," Boehner spokesman Brendan Buck said.

It is obvious that the Republican’s number one goal is to ensure that President Obama is not re-elected in 2012.  It appears that the party literally has turned a blind eye to reviving the economy. 

However, if the Republicans refuse to embrace this bill, Mr. Obama should take them directly to the “boxing ring” aka the court of public opinion and make it known that the party is more concerned with doing his re-election harm than working for the American people.  

Live Positive!

Joveline 

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