Tuesday, September 13, 2011

Oppose Obama's jobs bill

I sent a letter telling Congress to oppose President Obama's $447 billion "jobs" program. I encourage you to do the same using DownsizeDC.org's Cut Spending campaign.

The hard-wired message says simply, "Please cut federal spending."

I made these additional remarks, from which you may borrow or copy...

And please don't add to the national debt. Oppose President Obama's new proposal to create jobs by spending more money confiscated from the productive/voluntary sector of the economy.

I agree with the following points by Chris Edwards of the Cato Institute (http://www.cato-at-liberty.org/obamas-job-speech-full-of-bad-ideas/):

* The payroll tax cut isn't offset by budget cuts, and because it's temporary, it won't encourage businesses to hire additional workers anyway.
* A federal infrastructure bank would just be more crony capitalism. It wouldn't create permanent employment. And infrastructure spending has been rising steadily for the past several decades. We don't need more of it.
* Federal job training programs are unconstitutional and don't work.
* Tax credits for hiring will backfire by creating even more loopholes in the complicated tax code.
* Extending unemployment insurance will provide incentives for people to delay finding new jobs.

More importantly, the entire premise behind the plan is fatally flawed. Government's role is to protect our rights and liberties. It can't "fix the economy," nor can it create jobs. When the Federal State tries to "fix" or "improve" the economy, it makes things worse...

* Deficit spending steals from private capital investment
* The Fed's money printing destroys the value of the dollar, which encourages investors to purchase commodities instead of invest in business expansion
* Complicated taxes and regulations discourage hiring, and the compliance costs increase the costs of goods and services
* Regulations and occupational licensing laws prevent individuals from starting businesses or new jobs
* Tariffs, subsidies, and regulations tend to protect Big Business over smaller competitors

In every area, the Federal Government has the Reverse Midas Touch because it takes away the freedom of individuals to do for themselves. Instead, bureaucrats make decisions for us, but they're not held accountable when they make mistakes.

Congress can't create jobs. But it CAN remove barriers to job creation...

* Cut federal spending
* Reduce regulations
* Simplify and cut taxes

These measures will free-up capital for private investment, business expansion, and hiring. The most important thing the federal government can do for the economy is to STOP DOING HARM, and get out of the way.


You can send your letter using DownsizeDC.org's Educate the Powerful System.

Jim Babka
DownsizeDC.org, Inc.
D o w n s i z e r - D i s p a t c h
Official email newsletter of DownsizeDC.org, Inc. & Downsize DC Foundation.
SUPPORT the "Educate the Powerful System".

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