Ken Nelson

Obama promises $5K per new hire to employers that have payroll and employee growth in 2010

First off… $5K won’t entice me. That won’t even pay a 1/4 of a new hire’s healthcare costs, much less make a dent in their payroll tax costs ($12K on average).  And, you know what, I’ve got to keep paying them in 2011 and 2012.  Nope, my hiring, as for ALL other businesses, will be driven by core economic issues as well as opportunities that employees can help capture.

The knowledge, however, that our government continues to be idiotic and so wasteful does make me highly UNLIKELY to hire anybody.  And it makes me think that our economic woes, largely government driven, will continue for the foreseeable future.

This Obama plan reminds me of the rooster that claimed the sun came up because he crowed.

Some companies will hire and expand this year. Their accountants will notice this tax credit and apply it. The government will then claim those jobs as ones they helped grow, confusing correlation with causation.

At the end, no more jobs would have been created, debt will have risen, and an un-measurable number of jobs would have been stifled due to fear of more government stupidity.