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Gingrich on how to create jobs; makes sense to me
Topic Started: Dec 3 2009, 07:48 AM (759 Views)
Mikhailoh
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If you want trouble, find yourself a redhead
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Opinion: Obama Needs to Change Course on Jobs
By Newt Gingrich and Dan Varroney

(Dec. 2) -- President Obama is holding a jobs summit to address the crisis of nearly 16 million Americans without work, the highest unemployment rate in more than 26 years. And while he's invited more than 130 CEOs, academics, journalists and union leaders to share their views on the economy at the White House, at the end of the day the only opinion that will matter will be Obama's.

So the big question for the country is whether Obama will change course on the economy after the summit. Will he embrace a different set of job-creation policies than the failed government spending approach to economic recovery tried by both Obama and George W. Bush, which has increased our national debt by $2.9 trillion in less than two years?

Change? That's the only question that matters.

It might be a surprise to this White House team, but you don't have to be a celebrity CEO or hold a Ph.D. in economics to know how to create jobs. The many small-business owners who are members of American Solutions and who actually create jobs have given input and widespread support to the following three-step job-creation plan for the economy.

1. Reduce Spending and Replace Bad Government with Limited, Effective Government to Achieve a Balanced Budget

When Newt Gingrich was speaker of the House, federal spending rose by an average of 2.9 percent per year, the lowest increase since the 1920s. We need to apply the same principles that worked from 1995 to 1998 to create jobs and four straight balanced budgets: smaller government, less spending, lower interest rates and less debt. We also need, where necessary, to replace bad government with limited, effective government, like we did in the 1990s when we replaced a destructive welfare system.

2. Enact Five Key Tax Reforms to Reward Job Creation, Entrepreneurship, Savings and Investment

• Immediate Payroll Tax Relief. Enact an immediate, two-year, 50 percent reduction of the payroll tax, which would boost the take-home pay of every worker and dramatically free up cash for every employer to hire and invest. This tax relief could be paid for with unspent TARP and stimulus money.

• Incentives for Small-Business Investment. Allow small businesses to expense 100 percent of new equipment purchases each year to help them invest in new, more productive technologies.

• Zero Taxes on Capital Gains. Match the Chinese capital gains rate of zero. Former Fed Chairman Alan Greenspan testified in the 1990s that this was the best rate for economic growth.

• Reduced Tax Rate for Business. America has the second highest business tax rate in the world. We should match the Irish business tax rate of 12.5 percent. Combined with a zero capital gains tax rate, America would become the most desirable country in the world in which to invest and start a business.

• Elimination of the Death Tax. Inheritance is the most powerful accumulator of capital. Studies show that eliminating the death tax would create hundreds of thousands of new jobs.

3. Implement an American Energy Plan to Create American Jobs and Keep American Money at Home

Developing more domestic energy while protecting the environment would mean millions of new American jobs and billions in new federal tax dollars, largely without the need for any new federal spending. Unfortunately, the federal government maintains an effective embargo on new domestic oil, natural gas and oil shale development, and hasn't done enough to expand our nuclear power generation. A recovering economy depends on affordable domestic energy supplies.

After today, we can continue down the road of a failing economic policy of government stimulus, or we can change course and implement policies that have historically been successful in creating American jobs and prosperity.
____________
Newt Gingrich is general chairman of American Solutions for Winning the Future. Dan Varroney is chief operating officer. On Thursday in Jackson, Miss., American Solutions is holding a REAL Jobs Summit, which can be viewed live online.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Mark
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HOLY CARP!!!
Newt for President!
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Aqua Letifer
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ZOOOOOM!
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Elimination of the Death Tax. Inheritance is the most powerful accumulator of capital. Studies show that eliminating the death tax would create hundreds of thousands of new jobs.


The rest of the article makes sense to me but I have no idea how you go from inheriting money to creating new jobs.
I cite irreconcilable differences.
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QuirtEvans
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I Owe It All To John D'Oh
Some of it makes sense. Unfortunately, some of it has the distinct odor of crap. And, when the smell of crap is present, it tends to make everything around it smell like crap too.

It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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QuirtEvans
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Aqua Letifer
Dec 3 2009, 08:06 AM
Quote:
 
Elimination of the Death Tax. Inheritance is the most powerful accumulator of capital. Studies show that eliminating the death tax would create hundreds of thousands of new jobs.


The rest of the article makes sense to me but I have no idea how you go from inheriting money to creating new jobs.
Yeah, I've read the study. It's an unscientific piece of garbage.
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Mark
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HOLY CARP!!!
The death tax is just as immoral if not more so than the income tax.

There doesn't need to be any sort of science behind it.

It's immoral. Period.
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Aqua Letifer
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Mark
Dec 3 2009, 08:35 AM
The death tax is just as immoral if not more so than the income tax.

There doesn't need to be any sort of science behind it.

It's immoral. Period.
Okay but how does inheritance create jobs? That's the part I'm calling out as B.S.
I cite irreconcilable differences.
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Mark
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HOLY CARP!!!
It doesn't matter. It's irrelevant.
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Mikhailoh
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If you want trouble, find yourself a redhead
I could see in some situations where the inheritors of a business have to essentially close it down or sell it off to pay the taxes, but other than that I don't really know. I'll look around a bit.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Free Rider
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Fulla-Carp
I think #1 is one of those things easier said than done.
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Mikhailoh
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If you want trouble, find yourself a redhead
Not really. The first step is yearly, across the board cuts. Everybody, 2% this year, next year and every year after that until we have a balanced budget. Not limiting the increase, cutting the spending. Let the people who know where the fat is cut it. Congress and the White House sure don't know.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Free Rider
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Mikhailoh
Dec 3 2009, 09:08 AM
Not really. The first step is yearly, across the board cuts. Everybody, 2% this year, next year and every year after that until we have a balanced budget.
Does everybody include the military? 2% of their budget would hurt us even more in our overseas wars.

Does everybody include social security and medicare recipients? With the rate of inflation and the rising costs of healthcare how do you justify reducing what already is an insufficient amount to a retiree or veteran?

Do you want to reduce the amount of $$ for repairing crumbling bridges, levees, and other crucial infrastructure that is 40 years overdue for repairs?

PS..I hear what you're saying Mik. I'm just trying to illustrate how hard that would be in reality.
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Mikhailoh
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FR, there is no budget anywhere that cannot function adequately with a 2% cut. Least of all a government budget.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Mark
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HOLY CARP!!!
Not really. I will answer a resounding YES to all the questions you posed.

And I would start with more than 2% each each. Probably more like 10% maybe more.
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1hp
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Fulla-Carp

Quote:
 
The rest of the article makes sense to me but I have no idea how you go from inheriting money to creating new jobs.


I think it's a trickle down theory (vs the trickle up poverty that we seem to have now). Wealthy people spend money, even if it's just to entertain themselves, and they do a better job of injecting the cash into the economy than the government does. Paris Hilton may be a moron, but the bars around LA are probably thankful for people like her.

There are 10 kinds of people in this world, those that understand binary and................
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Aqua Letifer
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1hp
Dec 3 2009, 09:32 AM
Quote:
 
The rest of the article makes sense to me but I have no idea how you go from inheriting money to creating new jobs.


I think it's a trickle down theory (vs the trickle up poverty that we seem to have now). Wealthy people spend money, even if it's just to entertain themselves, and they do a better job of injecting the cash into the economy than the government does. Paris Hilton may be a moron, but the bars around LA are probably thankful for people like her.

Yeah, I've read those studies. I'm with Quirt, they're pretty silly.
I cite irreconcilable differences.
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Larry
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Mmmmmmm, pie!
The inheritance tax is a crime. The ultra-rich can get around it. The working guy isn't hit by it. It's the ones in the middle - the people who work their asses of to build a business only to have it torn to shreds when they die that carry that load, and they're the ones who create the majority of jobs in this country.

Of the Pokatwat Tribe

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Axtremus
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HOLY CARP!!!
Newt Gingrich is wrong.

The most effective, most immediate way to create large number of jobs in this environment is to dramatically increase government spending on infrastructure programs.

* Upgrade the air traffic control system, nation wide -- we know we need it, so just do it.

* Upgrade electricity distribution grids, nation wide -- we know we need it, so just do it.

* Build new and/or renovate old school buildings

* Renovate government buildings, for functional and energy efficiencies

* Build / repair public roads, bridges, Interstate highways, levees, etc.

* Upgrade/expand all government IT systems; subsidize state, counties, cities, and townships' IT upgrade/expansion projects.

* Bring lots of broadband data links to suburban and rural areas, make every American home as well-connected as those in Seoul or Tokyo.

* Make massive public investments in high speed wireless networks, make the whole nation's wireless broadband coverage rival that of Seoul or Tokyo's.

* Massively expand public transportation systems (rail, subways, busses, trollies, etc.)

* Digitize all public domain literary works, make them all freely available to every one (no BS like Google trying to claim copyrights of their digitized versions of public domain works)

* Dramatically increase funding for basic research -- those that take 20+ years to see commercial applications, the type that has massive potentials but the private sector enterprises are too chicken and too short-sighted to underwrite

* Massively increase subsidies to states and cities and counties and townships and national parks, etc. -- so they don't have to lay off police and firefighters and rangers and librarians and curators and town clerks and administrative support staff, etc.
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Larry
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Mmmmmmm, pie!
Ax, that is the most ridiculous thing I've ever read concerning how to create jobs.

Of the Pokatwat Tribe

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Copper
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Shortstop
Axtremus
Dec 3 2009, 09:46 AM
Newt Gingrich is wrong.

The most effective, most immediate way to create large number of jobs in this environment is to dramatically increase government spending on infrastructure programs.

Sure, government handouts are so much easier than making people work for their money.

That way nobody has to work very much and we are all happier.

Big government is the answer, it comes with built-in stability.
The Confederate soldier was peculiar in that he was ever ready to fight, but never ready to submit to the routine duty and discipline of the camp or the march. The soldiers were determined to be soldiers after their own notions, and do their duty, for the love of it, as they thought best. Carlton McCarthy
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Aqua Letifer
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ZOOOOOM!
Axtremus
Dec 3 2009, 09:46 AM
The most effective, most immediate way to create large number of jobs in this environment is to dramatically increase government spending on infrastructure programs.
That's a temporary solution at best, and I trust business with supplying, well, more business, far more than I do the government. That's not their responsibility, just for starters. What are you going to do once those infrastructure programs are completed?
I cite irreconcilable differences.
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Mikhailoh
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If you want trouble, find yourself a redhead
The problem with that approach is it is unsustainable. The businesses that arise from it will only be there so long as the government services are being purchased. It creates an unnatural marketplace. When you put money in the hands of people who will use it to create wealth for themselves by serving the real marketplace you will create lasting jobs.

My county refused the stimulus funds because they established programs that would still have to be paid for after the stimulus funds are gone. It is, I believe, the correct approach.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Aqua Letifer
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ZOOOOOM!
Holy ****.

I'm agreeing with Larry, Copper and Mik on political stuff.

What a sorry state of affairs the country must be in. :lol:
I cite irreconcilable differences.
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QuirtEvans
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I knew it. You're a closet fascist. :tongue:
It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010.
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Red Rice
HOLY CARP!!!
Axtremus
Dec 3 2009, 09:46 AM
Newt Gingrich is wrong.

The most effective, most immediate way to create large number of jobs in this environment is to dramatically increase government spending on infrastructure programs...
Yes, that would create a large number of jobs.

But where would the money come from?

Civilisation, I vaguely realized then - and subsequent observation has confirmed the view - could not progress that way. It must have a greater guiding principle to survive. To treat it as a carcase off which each man tears as much as he can for himself, is to stand convicted a brute, fit for nothing better than a jungle existence, which is a death-struggle, leading nowhither. I did not believe that was the human destiny, for Man individually was sane and reasonable, only collectively a fool.

I hope the gunner of that Hun two-seater shot him clean, bullet to heart, and that his plane, on fire, fell like a meteor through the sky he loved. Since he had to end, I hope he ended so. But, oh, the waste! The loss!

- Cecil Lewis
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