Tuesday, January 5, 2010

Jobs for Main Street Program

Congress is preparing to pass another multi billion dollar stimulus program in February. One hundred billion of it will not create one single job. It will go for unemployment, health insurance, child tax credit, states Medicare costs, education jobs which are in jeopardy of being eliminated, etc., then another seventy five billion for infrastructure, police officers and summer jobs for disadvantaged children.
All of the above merely helps maintain the status quo but does nothing to create private sector jobs, which is where I would put the funds. I would use the same funds to lower tax for business and industry, particularly industry if possible, regardless of size, but if necessary at least to small business. This would create incentive for employers to increase production or start new businesses.
The Administration and Congress it appears to me to be throwing funds into the air without a thought of reviving the private sector. A strong private sector will create good paying jobs for people who will contribute to the overall economy by paying taxes. The programs itemized above take away from the government taking us deeper and deeper into debt. It has been proposed to increase the national debt to over 13 trillion in February in part to cover the cost of this new stimulus package and the wars in the Middle East.
The other bold step I would take is to give notice to the Chinese and Indian governments that they must allow their currency to float as all other nations do. There may be other countries that do the same but these two are the giants who have been stealing American jobs. The previous administration and the current one have been too afraid of the consequences fearing these countries selling off American bonds. Should a real financial war begin they would lose as much or more than we would so I do not fear them nor should our government. As long as they are allowed this outrageous benefit American industry cannot possibly compete. Manufacturing that is not labor intensive would return to this country. How great that would be.
I continue to push these ideas as no one else is to my knowledge. I will be sending this to my Congressperson and my Senators where it will be placed in the nuisance file.

Jack B. Walters
3961 N. Hillwood Circle
Tucson, AZ 85750
(520) 722-2958
January 5, 2010

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