Zera's Blog

A Citizen's View from Main Street

Eric Cantor’s Small-Business Tax Cut Faces Threat Of Presidential Veto


And a well-deserved veto it would be.

Holy Crap, Batman! Look at the numbers!

$46B added to the deficit in order to create 100K jobs. That’s $460,000/job. That’s likely 10 to 15 times the salary of the jobs created. There is no possibility that this would generate enough new revenues to pay for the cuts, even if the new jobs were taxed at 100%.

Cutting taxes for 22M “small” businesses to create 100K jobs means only 1 job would be created for every 220 businesses getting a tax cut – and that’s if the republican best-case scenario proves true.

Official portrait of Congressman .

Official portrait of Congressman . (Photo credit: Wikipedia)

I think that Eric Cantor and I have radically different definitions of “potent economic stimulus”. This is designed to be incredibly inefficient, ineffective, and wasteful as a “jobs” program.

Could the lies be any more blatant? Promoting this as a “jobs” bill is an insult to the intelligence of every American, and a clear demonstration that republicans are fiscally irresponsible in ideology and practice. After all, they can blame President Obama for not signing it, or the Senate Democrats for not passing it, and never face responsibility for passing it. I expect them to accuse the Democrats of playing politics in stopping this moment of insanity.
Read the Article at HuffingtonPost

April 19, 2012 Posted by | 2012 Election, Budget, Economics, Ethics, GOP, Legislation | , , , , , , , , , | Leave a comment

Eric Cantor Admits That Fair Tax Act Is Based On A Fraud


Representative Eric Cantor of Virginia

Image via Wikipedia

The FAA shut down over House Republicans’ insistence on including anti-union provisions in the agency’s re-authorization bill and the airlines are poised to collect $1.3 billion or more of extra profits in forgone taxes. With the FAA unable to collect the $28.6 million a day in aviation taxes it usually takes in, some of the […]

This has become a most interesting situation.

CANTOR: And what airlines have done is have stepped in and said, well, if we’re not going to pay that money to the federal government, we’re going to keep it towards our own bottom line. And I guess that’s what business does.

This is not just an admission that businesses are predatory, but that conservatives approve of it. But where does the Fair Tax Act come in? Because the Fair Tax is based partly on the premise that 23% of the price of a product is due to business taxes, and if the business is relieved of that tax burden it will reduce the price 23%. Cantor has just admitted that businesses won’t do that, because keeping the money (or as much as they can get away with) is how business works.

via Eric Cantor Defends Airlines Pocketing Taxes During FAA Shutdown: ‘That’s What Business Does’.

September 3, 2011 Posted by | Capitalism, GOP | , , , , , , , , , | Leave a comment

112th Congress HR 2 – Repealing the Job-Killing Health Care Law Act


H. R. 2:

                                 A BILL AN ACT

   To repeal the job-killing health care law and health care-related
provisions in the Health Care and Education Reconciliation Act of 2010.
   Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Repealing the Job-Killing Health
Care Law Act''.
SEC. 2. REPEAL OF THE JOB-KILLING HEALTH CARE LAW AND HEALTH CARE-
              RELATED PROVISIONS IN THE HEALTH CARE AND EDUCATION
              RECONCILIATION ACT OF 2010.
    (a) Job-Killing Health Care Law.--Effective as of the enactment of
Public Law 111-148, such Act is repealed, and the provisions of law
amended or repealed by such Act are restored or revived as if such Act
had not been enacted.
    (b) Health Care-Related Provisions in the Health Care and Education
Reconciliation Act of 2010.--Effective as of the enactment of the
Health Care and Education Reconciliation Act of 2010 (Public Law 111-
152), title I and subtitle B of title II of such Act are repealed, and
the provisions of law amended or repealed by such title or subtitle,
respectively, are restored or revived as if such title and subtitle had
not been enacted.

                                 all>

SEC. 3. BUDGETARY EFFECTS OF THIS ACT.

    The budgetary effects of this Act, for the purpose of complying 
with the Statutory Pay-As-You-Go Act of 2010, shall be determined by 
reference to the latest statement titled ``Budgetary Effects of PAYGO 
Legislation'' for this Act, submitted for printing in the Congressional 
Record by the Chairman of the Committee on the Budget of the House of 
Representatives, as long as such statement has been submitted prior to 
the vote on passage of this Act.

            Passed the House of Representatives January 19, 2011.

            Attest:

                                                                 Clerk.
112th CONGRESS

  1st Session

                                H. R. 2

_______________________________________________________________________

                                 AN ACT

   To repeal the job-killing health care law and health care-related 
provisions in the Health Care and Education Reconciliation Act of 2010.

This has got to be one of the most childish pieces of legislation I have ever seen. The title alone is antagonistically pejorative. It lacks the usual preamble of reasons and justifications, especially for legislation this far-reaching.

Most importantly, it lacks any sign of concern for, or even awareness of, the consequences of implementing this bill as a law. A responsible bill would have analyzed the portions of the law it seeks to repeal and provided instructions on how to unwind them.

I wonder where they got the idea that they could make a law retroactive?

In short, nobody did their homework, or due diligence, on this one.

The very low quality of work on this bill clearly indicates that it is a deeply partisan message, and was never approached as serious legislation or work in support of the people’s business.

There are not yet I have not yet seen any corresponding Senate bills online.

Here is the list of incompetents responsible for this embarrassingly irresponsible piece of legislation:

Continue reading

January 25, 2011 Posted by | Government, Health Care, Legislation, Strangelove | , , , , , , , , , , , , , , | Leave a comment

   

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