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.
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
- Cantor ‘Puzzled’ That Obama Would Threaten To Veto The Latest GOP Tax Cut For Millionaires (thinkprogress.org)
- House passes small biz tax cut (politico.com)
- House Of Representatives Approves Cantor’s $46 Billion Tax Giveaway (thinkprogress.org)
- Eric Cantor Touts Analysis Concluding That His Tax Giveaway Would Cost $1.1 Million Per Job (thinkprogress.org)
- House will vote today on tax cuts for NASCAR/NFL team owners (dailykos.com)
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.
A BILLAN 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.
- “Congress Tackles Health Care Law Repeal, 1099s” and related posts (taxgirl.com)
- Jim Worth: An Unhealthy Debate: Again (huffingtonpost.com)
- “CBO’s Preliminary Analysis of HR 2, the Repealing the Job-Killing Health Care Law Act” and related posts (cboblog.cbo.gov)
Here is the list of incompetents responsible for this embarrassingly irresponsible piece of legislation: