If your feet felt cold this morning, it’s because Hell has frozen over. Last evening the U.S. House passed overwhelmingly (407-17) a piece of President Obama’s American Jobs Act. While the Senate Republicans yesterday blocked the transportation part of the jobs bill, House Republicans and Democrats solidly supported changing Security…
Millionaire challenge
Tuesday I challenged any real business owner making over $1 million a year to contact me to discuss the proposed millionaire surtax to pay for the President’s American Jobs Act. (A new NBC News/Wall Street Journal poll shows about 64% public approval for both the surtax and jobs plan). The U.S. Chamber, National…
Millionaire defenders club
A procedural vote this week, possibly even today, in the US Senate will determine if President Obama’s American Jobs Act even gets to be debated on the Senate floor. The bill doesn’t have a chance of passing the Senate because it, as most legislation now, can’t get the 60 votes…
Let upper-end Bush-era tax cuts expire
By Frank Knapp, Jr. The Hill’s Congress BlogSeptember 21, 2011 President Obama’s call for cutting the deficit by $3 trillion includes the roll back of the Bush-era tax cuts on the top income tax brackets, a move expected to bring in about $800 billion over the next 10 years.…
Cash flow and job tax credits
In my blog on Monday, I made the following observation about the job tax credits within the President’s proposed American Jobs Act. Tax credits are taken when tax returns are prepared, not at the time of hiring. If a business doesn’t have the capital to do the initial hiring, the…
We need customers
The Census Bureau reported yesterday that the United States now has 46.2 million people living below the poverty line—up 2.6 million people since last year. Median household incomes fell below 1997 levels. No wonder the biggest threat to small business is the lack of customers, not taxes or regulations. Last…
Job tax credits can work
This evening President Obama submits his American Jobs Act to Congress. According to a story in The Hill most economists from Moody’s Analytics to the Economic Policy Institute think that the plan, if passed, would add about 2 percent to the GDP growth next year. The big concern Wall Street…
Pass this jobs bill
Finally, a jobs plan that actually helps the largest jobs-producing sector to create jobs—small business. Advocates for small business were thrilled to hear President Obama speak these words last night. Everyone here knows that small businesses are where most new jobs begin….So for everyone who speaks so passionately about making…