Obama's Ridiculous 'To-Do List'

[Geee]

Human Events:

 

President Barack Obama has compiled a handy to-do list for Congress that, "if acted upon quickly, will create jobs and help restore middle class security," according to the White House's blog. And it's about time. This is most certainly not, as cynics might suggest, another transparent political scheme. After all, these initiatives, the White House claims, enjoy bipartisan support -- which, I gather, is meant to impress you, even if it's not exactly true.

Regrettably, the sentiment of the to-do list does garner bipartisan support and illustrates how cheap populism leads to bad policy and why Washington shouldn't be in the business of "creating jobs" in the first place.

Obama says passing his to-do list would help create "an economy built to last -- one that creates the jobs of the future and makes things the rest of the world buys -- not one built on outsourcing, loopholes, and risky financial deals." History tells us that when government "creates" an economy, it won't be much of an economy to speak of -- but here's the new plan:

"Reward American Jobs, Not Outsourcing." Hey, let's play on the genuine frustration of struggling Americans. Most politicians will latch on to this protectionist notion to some extent. But need it really be repeated that outsourcing, by generating more productivity, creates more wealth and more jobs? On this point, most economists actually agree.

But even if you believe "outsourcing" is a job killer, does anyone believe the notion that "passing legislation that gives companies a new 20 percent tax credit for the cost of moving their operations" will make a dent on employment? Liberals frequently argue that high corporate taxes aren't chasing companies abroad, yet a one-time tax break on moving expenses is now a cornerstone of "an economy built to last"?

To do: "Create Jobs By Investing In Affordable Clean Energy." It is difficult to calculate just how many subsidies and breaks are already "invested" in unproductive clean-energy projects -- many of them supported by Republicans. Whether it be morally fulfilling or good for the environment, an expansion of "the 30 percent tax credit to investments in clean energy manufacturing" could cost jobs, not create them. As one Spanish study found, 2.2 conventional jobs are destroyed for every job created in the alternative energy industry. "Investing" in inefficient energy is no way to economic growth.

[clearvision]

Good point made on dems arguing tax rates don't impact corporations, but a 20% tax credit (one time) will bring employees back home.