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OBAMA'S JOB SUMMIT By Neal Boortz @ November 13, 2009 8:41 AM Permalink | Comments (34) | TrackBacks (0)

Unemployment hit 10.2%.  Who knows, maybe it will rise even more.  Hopefully for the sake of many Americans, this will be the worst of it.  But the Democrats and the Obama administration are starting to get nervous.  They worry that the longer you are out of a job, the longer you have to sit there and wonder whether or not your representatives in Washington are really doing what is best for our economy.  They know you have a vote.  So they want to look like they are doing to something to solve this problem.  I know .. we'll have a jobs summit!

That's exactly what Obama plans to do.  He is inviting investors, CEOs, small-business owners, academics, nonprofit officials and labor and financial figures to the White House for a jobs summit.  The focus of this summit, according to Obama, will be why employers aren't hiring.  Duh!  Obama notes that businesses are increasing employee hours and adding temporary workers but "have not yet been willing to take the steps necessary to hire again."

Let me give you a little clue as to why this is the case.

First ... taxes.  All three of the DC heavy hitters, Obama, Reid and Pelosi, are proposing new taxes on business owners.  Oh yeah ... they position these taxes as merely attempts to make the evil, disgusting, filthy, putrid, rancid rich pay "their fair share,"  but every additional tenth of a percent of income tax you're told is being levied on "high income earners" is, in reality, a tax on business owners --- the very business owners who now employ about 70% of Americans with jobs and who are providing 80% of the new jobs.  Now you ObamaBots out there tell me --- since you have all the answers --- why would a business owner who is facing:

1. A nearly 5% increase in his income taxes when the Bush tax cuts expire
2. Another 5.4% increase in his income taxes with Pelosi's rich bastards surtax
3. An increase in his Medicare taxes pursuant to Harry Reid's wishes
4. The prospect of paying Social Security taxes on every single penny he earns
5. God knows what else

Why oh why would this person stick his neck out right now and try to expand his business and hire new workers?  He's in the freaking cross-hairs, for goodness' sake, and you want him to act like everything is hunky dory and get out there and hire people? 

Now with taxes out of the way, the government must stop this outrageous spending spree.  Spending more money is not going to create jobs.  Studying grandparents in Alaska, building puppets in Atlanta and studying tadpoles in Wyoming is not going to grow our economy.  We have already seen that with this $787 billion economic stimulus bill.  The stimulus package was a private sector jobs killer.  Only one state has seen an increase in private sector employment since this idiotic stimulus bill was passed .. and that was North Dakota ... and that's because they hired a new snow plow driver. 

Some of you might be okay with the idea that jobs are jobs.  You don't care if they are in the government or the private sector .. at least people are working.  Well I can assure you that relying on government jobs to turn around our unemployment rate is the wrong way to go.  The Cato Institute explains it best:

The reason is private sector jobs tend to be more productive than government jobs, and there is a considerable cost (i.e., dead weight loss) when government extracts monies from the private sector by taxing or borrowing to pay for the government jobs. Therefore, countries with large government sectors, like France and Germany, tend to have much higher unemployment rates than countries with smaller government sectors.

Another problem that is hindering job growth is our weakening dollar.  I've explained what is happening with our dollar lately.  Our spending and borrowing isn't getting us anywhere in terms of strengthening our currency.  Did you know that a drop in the dollar has the same effect as a tax increase on the American consumer?  Think about that.  The weaker our dollar becomes, the less you can buy for everyone one dollar.  This has the same effect as if you were paying more in taxes.  The same goes for businesses.  The weaker their buying power, the less inclined they are to hire.

So if I, the Talkmaster, were invited to this jobs summit in Washington, here is what I would suggest.

1. Do not increase taxes on Americans by letting the Bush tax cuts expire
2. Get spending under control.  Rather than spend more money trying to create   jobs, try and get spending under control and the economy with correct itself
3. Pass the FairTax.
4. Find something for Barack Obama, Nancy Pelosi and Harry Reid to do that won't be so damaging to our Republic.  Give them some old alarm clocks to take apart and re-assemble. 

I don't think I have to explain to you why #3 would work wonders for our economy.

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