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Wednesday, February 10, 2010

Draft Jobs Bill Would Halve Payroll Tax

“Senate Democrats circulated a jobs bill Tuesday that’s light on new initiatives on boosting hiring and heavy with provisions sought by lobbyists for business groups, doctors and others…. It has bipartisan backing, but few new ideas for creating jobs, other than a $10 billion plan to exempt companies from paying the employer’s share of Social Security payroll taxes for new hires if they are unemployed and hired this year…. The idea, by Sens. Charles E. Schumer, New York Democrat, and Orrin G. Hatch, Utah Republican, is regarded as more workable than President Obama’s plan for tax credits of up to $5,000 for new hires.” (Washington Times, Wednesday)

Gimmicks instead of a permanent lifting of the burden of government.

FEE Timely Classic
“Creating Jobs vs. Creating Wealth” by Dwight R. Lee

  • Sheldon Richman is the former editor of The Freeman and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families and thousands of articles.