Here’s what you can expect to hear from Congress this fall

Congress and -- especially -- Obama have made job creation their top fall priority.
REUTERS/Jim Bourg
Congress and — especially — Obama have made job creation their top fall priority.
Norm Ornstein
Courtesy of the American Enterprise Institute
Norm Ornstein

No Minnesotans sit on this so-called “super committee,” but its work through the fall and the final plan it submits will be among the most watched legislative developments as the leaves change and the snow begins to fall in Washington.

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Comments (7)

  1. Submitted by Thomas Swift on 09/07/2011 - 11:30 am.

    I design capital equipment. We are busy as hell, but we could be a lot busier if we could complete our projects faster.

    It’s not a lack of manpower that is keeping us from growing, it’s a lack of raw materials and parts. And our customers would report the same problem; we are not stocking spare parts for them.

    This problem goes all the way back down the material chain pipeline. Sensor manufacturers report the cannot get the chips they need; chip manufacturers are not making wafers.

    Why?

    The tax on inventory costs more than they are willing to gamble with.

    How about a nice juicy cut on inventory taxes? And let’s toss in a tax credit for capital equipment purchases.

  2. Submitted by Bernice Vetsch on 09/07/2011 - 12:48 pm.

    American corporations are awash in tax credits and exemptions and constant reductions in the regulations that keep our food safe, our air and water clean, and ensure that manufactured products do not injure children or anyone else.

    But they do not create jobs because the market is “uncertain.” Are they not supposed to be the Risk Takers as well as the Job Creators? Are we to offer governmental guarantees of profit every time a capitalist takes a risk?

  3. Submitted by Jon Kingstad on 09/07/2011 - 02:33 pm.

    As long as “making Obama a one term President” is the primary goal of the Republican Party, there will be no jobs bill. The Republicans demonstrated their callous disregard for the public interest during the ridiculous stalemate over the debt ceiling. What makes Mr. Ornstein so confident that these bozos have suddenly come to their senses? I fully expect the Republicans to continue their war by refusing to pass a budget and shut the government down hoping to gain political points for this.

    Republicans (and now apparently Obama) simply cannot accept that Keynes and his teachings on economics showed that government spending, i.e. fiscal policies, is sometimes the only mechanism to spark job creation. Now is one of those times, despite the deficit which is irrelevant. Taxes on the wealthy and their corporations is precisely what is needed to redirect these hoarded profits and windfalls into productive investment, out of currency and other speculation. The magical thinking that savings automatically brings about investment and employment lies at the bottom of this which is precisely the problem here.

  4. Submitted by Ray Schoch on 09/07/2011 - 03:15 pm.

    Ditto, Bernice, and ditto, Jon Erik, especially Jon’s final sentence.

    We’ve had more than a decade of Bush tax cuts for both wealthy “jobs providers” and businesses that “can’t compete because of their tax burden.” While there’s a mountain of Republican rhetoric that tax cuts create jobs, I’ve seen no evidence – credible or otherwise, and after more than a decade of tax rates from 60 years ago – that a significant number of jobs have been created.

    Beyond “magical thinking,” a phrase that’s wonderfully appropriate, Bernice’s second point is very well taken. Every businessman/woman I’ve known wants it both ways – reward as if huge risk was being taken with one’s own money, while simultaneously doing everything possible to make sure that there’s no risk at all. While that’s a fairly common human self-deception, there’s no reason why the public should support it with their own tax dollars.

    American corporations are sitting on mountains of cash, according to even slavishly-devoted sources like the Wall Street Journal, and they’re not hiring because of “uncertainty?”

    Please. Grow up.

    The only certainty in life is that it will end, and sooner than most of us would like. If you have to have certainty in order to do business, you have no business BEING in business, and you need to talk to some farmers, for whom certainty is strictly a fantasy, and one thing they can be sure they will not enjoy. Yet they continue to farm. There’s a lesson there – from people who typically vote Republican – for a whole bunch of more urban Republicans.

  5. Submitted by Thomas Swift on 09/07/2011 - 03:49 pm.

    “you need to talk to some farmers, for whom certainty is strictly a fantasy”

    http://farm.ewg.org/region.php?fips=27000 …Doh!

  6. Submitted by Dennis Tester on 09/07/2011 - 06:48 pm.

    “But they do not create jobs because the market is “uncertain.” Are they not supposed to be the Risk Takers as well as the Job Creators?”

    Unlike managers in government, corporate managers realize that they are playing with other people’s money … the stockholders’ money.

    If there’s nothing out there that promises a return on the stockholders’ investment, of course they’re going to sit on the money until the uncertainty of excessive taxation and regulation is eliminated by eliminating the democrat control of government.

  7. Submitted by David Willard on 09/09/2011 - 10:27 pm.

    As a guy who goes in and out of this website, hoping there is some balance in the reportage of the very talented journalists and the comments section, well, the Left gets its way.
    The dusty Progressyves rule the comment sections while the OLd Left snark on in the “news” sections.

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