President Obama’s Jobs Plan Is Completely Paid For – With Taxes
President Obama addressed Congress last week talking up his new “Jobs Plan”. He continued to say that “It’s paid for”. Well, it turns out that it is. It is paid for with taxes. While this is not a surprise, it is a contradiction of what Obama has been saying.
The plan is to tax oil and gas companies, which as anyone knows, it almost a direct tax on everyone in the United States. The oil companies (or any other company for that matter) are not going to lose money. When they are taxed, they pass that tax directly to the consumer.
Tax Sony more, Flat screen televisions and playstations cost will go through the roof. That is simple economics, yet it seems to be the sole plan of this administration.
“It would be fair to say this tax increase on job creators is the kind of proposal both parties have opposed in the past. We remain eager to work together on ways to support job growth, but this proposal doesn’t appear to have been offered in that bipartisan spirit,” Says speaker John Boehner.