The new Obama "Jobs Plan" does little to create jobs, but an enormous amount to raise taxes. According to Reuters, Obama plans to raise $447 billion dollars to create jobs by taxing the rich. (full article here). But the article, in typical traditional media fashion, trumpets this as a great idea and only hints at its faults.
The article states that most Americans support the idea of raising taxes on the rich, making them pay "their fair share." But if this is actually true, then why hasn't Harry Reid, Democrat Senate leader, brought the bill up for a vote? Well, because no one running for re-election, including hard line, left-wing Democrats, want to be known for raising taxes during a recession. It is bad policy and hurts their campaigns. In 2009, during the debates to maintain the Bush Era tax cuts, Obama himself agreed that raising taxes on anyone during a recession would hurt the economy (TheGatewayPundit.com).
Even fellow Democrats say they will never vote for a bill that raises taxes during a recession (PoliticusUSA.com). So then why is Obama pushing this ridiculous bill that has no support even with Democrats? Obama's re-election.
Obama's re-election is looking bad. Fifty-five percent of Americans say Obama will lose in the next election (ABCNews.com). He desperately needs to re-energize his liberal base, who is leaving him (WashingtonPost.com). So what better way to do so than with a little class warfare?
And as far as jobs go, it would actually cause more jobs to be lost. As taxes are increased, the wealthiest among us, who are also the job creators, would have less money to hire people and/or keep people employed. Plus, if Obama's 2008 $787 billion stimulus package didn't create jobs (It was promised that the unemployment rate wouldn't go over 8% and it is not over 9% (MRC.org)), how is $477 billion dollars, nearly half of the original stimulus, going to do the trick?
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