BLS says that One-half Million More Jobs Lost in the Last Month … As Predicted, Economic Stimulus Package Will Do More Harm and Good

Six Months ago, I commented about the problems with the Economic Stimulus Package and how it would not provide any immediate benefit, be largely ineffective and create more long term costs than benefits.  The Bureau of Labor Statistics just released its latest employment situation report and showed that the economy lost nearly one-half million jobs in the last month and six and half million since the recession began.  Six months ago, the administration said that the package would create millions of jobs this year.  What we said then, still holds true.  To read our critique of the package, see: 

http://www.theamericanconsumer.org/2009/02/02/economic-stimulus-will-it-work-maybe-maybe-not/

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One thought on “BLS says that One-half Million More Jobs Lost in the Last Month … As Predicted, Economic Stimulus Package Will Do More Harm and Good

  1. How To Create More Jobs America – Survey Results

    My recent survey produced a variety of ideas, but most of them had these common elements: replace the Internal Revenue Code with a simpler model, encourage businesses to increase employment, and insist upon tort reform everywhere.

    It also brought two disturbing realities into focus: We are painfully apathetic (less than 1% of the people I contacted took the time to respond) and, although we have great problem-solving ideas, few to none of our ideas are included in any of the reforms being considered by Congress.

    For those who participated, thank you again. I hope that you will appreciate how I’ve synthesized your thoughts and suggestions into the commentary. I also hope that you will find the time to address some of these issues more aggressively with blogs, networks, and elected officials.

    Major changes are being proposed in six inter-related areas. All the dots cannot be connected in one article. Government revenue is cut in this article and the next without a hint about a replacement plan. I’ll get to that later, and painlessly for all of us.

    So how do we create more jobs?

    What Congress, a long line of Presidents, and much of the population have lost sight of is the fact that even the dirtier businesses are job providers. They must be pampered, not pummeled; supervised and reined in but not tethered and broken.

    Business income taxes are 100% inflationary; costs associated with employees (yes, even the minimum wage, which some suggest is the cause of our illegal alien problems) result in fewer employees hired. Period. Capitalism is not broken— its success formula has been compromised.

    Repealing the corporate income tax, and prohibiting any and all levies, fees, charges, and taxes on any form of business could instantly produce millions of job openings, lower prices, and create new business opportunities throughout the economy.

    Repealing business income taxes would instantly make export products more competitive in world markets, as businesses reduce prices while maintaining profit margins. Greater profits should translate into growth in economic activity.

    Finally, the elimination of these taxes would make all businesses run more effectively because there would be no need to spend money (or create losing transactions) just to cut the tax bill.

    For the rest of the article, just Google: “How To Create More Jobs America”.

    Steve Selengut
    http://www.kiawahgolfinvestmentseminars.com
    Author of: “The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read”, and “A Millionaire’s Secret Investment Strategy”

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