Republican Senators Offer Jobs Plans – That Does Not Create Any Jobs

But Then That Was Never Their Intention in the First Place

President Obama when he is not being the deficit reduction President is the jobs creation President.  Last month he submitted a job creation package to the Congress.  The package was intended primarily as a political statement.  Democrats knew that the package could not pass either branch of Congress, but it would show the President was serious about job creation while his opponents were obstructionists.

Hoping the avoid the obstructionist label, Senate Republicans have set out a jobs creation package of their own.  However just calling something a jobs creation package does not mean that if the package were passed it would create a large number of jobs.  In fact even if the Republican package were passed it would mean only a small reduction in unemployment, if that.  Here are some of the highlights:.

1. No new federal regulations would be allowed until unemployment was 7.7%.  This of course repeats the Republican mantra that regulations are killing the jobs market, a position totally unsupported by any evidence provided by Republican, because they have no evidence that current regulations are preventing job growth.

2. The ACA (Obama care) would be repealed.  Exactly how making health care affordable and available in 2014, which is when the major provisions of the law take affect, is hurting the job market today is left to one's imagination.

3. The Dodd Frank Financial regulations law would be repealed.  Allowing financial firms to engage in destructive practices harms the economy, see 2001- present, but helps the Republican base, so even though no jobs are created it still is something Republicans want to do.

4. Congress would pass a Balanced Budget Amendment.  If implemented an immediate balanced budget would cut government spending so severely that it would bring on a huge recession.  Huge recessions do not create jobs.

5. Top corporate and individual tax rates would drop to 25%.  While this would be paid for by changes in the tax code, the net result would be to shift more of the tax burden to the middle class.  This cuts their spending ability and produces job losses.

6. Corporations could repatriate foreign profits with reduced taxes.  Since corporations already are awash with cash, this would simply increase idle corporate cash balances, but do little else to help the economy.

7. Restrictions on off shore oil drilling would be removed.  The thinking may be that having another BP type oil spill would increase employment in the environmental remediation business.

Republicans claimed they wanted to have a “conversation” with Democrats,

But senators said outright that the plan’s goal was to undo the Obama agenda. Asked which pieces of the plan they believed Democrats might be most likely to embrace, they named only its emphasis on tax reform.

At least they get some points for honesty, and would get even more if they renamed their plan “The Job Killing Plan Which Will Cause Mr. Obama to Not Be Re-Elected”.  Actually they don’t need to do that, everyone knows what they are trying to do here.