Barack Obama's jobs plan may be one of the worst policy proposals I've ever seen. As I pointed out last week, the plan to "pay for" the jobs proposal with tax hikes is just lunacy. It eliminates every bit of stimulus effect that could possibly come from additional government spending. Over at Zero Hedge, John Poehling has run the numbers on
A value-added tax (VAT) that would come with the elimination of corporate and individual income taxes is the best way to get jobs rolling in the U.S., investor Wilbur Ross said. While the plan that President Obama will present to Congress Monday has some merits, it also contains weaknesses that could make it too costly to implement, Ross said
New international bank capital rules are “anti-American” and the US should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, has said. In an interview with the Financial Times, Mr Dimon said he was supportive of forcing banks to have more capital but argued that moves to impose an
Jobs creation remains weak, because temporary tax cuts, stimulus spending, large federal deficits, expensive and ineffective business regulations, and increased health care mandates and costs do not address structural problems holding back dynamic growth and jobs creation-the huge trade deficit and dysfunctional energy policies. Oil and trade
Source: USDebtClock.org
and Rebuild-US.net
