Newly elected Mass. senator Scott Brown has been on the job for about two weeks and he's already letting himself be taken advantage of in the back seat of Harry Reid's car. By signing on to Harry Reid's jobs bill, along with RINO's Snowe and Collins and retiring GOP senators Bond and Voinovich, Brown demonstrated his lack of understanding of economics and his willingness to side with liberals to expand the federal government still further. You can go to wbur and read about the bill but here are the low-lights.....
-Hiring tax incentives — Exempts employers from paying the 6.2 percent Social Security payroll tax this year on newly hired workers that have been unemployed for 60 days or more. Cost: $13 billion.
-Highway programs — Reauthorizes through the end of 2010 the highway trust fund to use gasoline taxes to help state and local governments pay for highway and transit projects.
-Equipment write-offs — Permits businesses to write off equipment as a business expense rather than depreciating them over time. Cost: $35 million.
-Build America Bonds — Expands the Build America Bonds program to subsidize the interest costs of bonds to include certain school and energy projects. Cost: $2.3 billion.
Any economist will tell you that business rarely hire new workers because of tax incentives. This is a ruse. Tax policy in the hands of feckless politicians is arbitrary and labile. Businesses hire new workers because of private-sector demand for it's product. If you want to create real lasting jobs, immediately cut income taxes and let the market determine where the demand will be. Senator Brown should know this.
Government doesn't create jobs other than government jobs. Government doesn't create wealth, produce anything of value or, sell anything. It exists for one purpose, to regulate, inhibit and, depress the rest of us. Senator Brown should understand this too.
The fact that he's being praised today by liberals for his mavericky vote should be as alarming to him as it is to the rest of us. I wonder if Reid had to buy him off or did Scott Brown stupidly offer up his vote for nothing?
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