U.S. House Budget Committee Chairman Paul Ryan, R-Wis., the latest budget whiz, unveiled a 2012 budget plan that targets those horrible, budget-busting entitlement programs — but only the ones that provide a minimal level of security for the old, the disabled, children and the poor. You can read it here.
Not a word about the multitude of corporate entitlements, carefully hidden away in a dysfunctional tax code, aimed solely at allowing corporations awash in record profits and federal incentives, to pay little or no taxes.
Also, Ryan wants to additionally cut corporate taxes. How do you cut a zero tax and tackle the federal deficit except on the backs of the most vulnerable?
In the name of job creation, Ryan wants to return America to a time, 100 years ago, when corporate America flourished and the rest of us were on our own to sink or swim.
A reminder to all – Government does not create jobs. Government jobs are a money transfer, like taking money out of one pocket and putting it in the other. There is no increase in wealth. Sure, the one who got the government job might be $50,000 better off, but taxpayers are $50,000 poorer.
With a $14 trillion debt, if government spending created jobs, we should be at 0 percent unemployment instead of near 9 percent. Of course, government can borrow money, print more or raise taxes, but that devalues the dollar, hikes inflation and invites companies to move jobs overseas. Have you noticed the rise in gas and food prices and how hard it is to find good jobs?
We must shrink government, lower taxes and cut government spending. Uncle Sam spends $10 billion a day and that doesn’t include state and local government spending. Only then will we see jobs return, companies expand and folks have more money to spend.
Paul Ryan’s plan will not work.