Flap’s Links and Comments for October 4th through October 5th
These are my links for October 4th through October 5th:
- Senate Democrats rewrite Obama’s jobs bill– Senate Democrats are rewriting portions of President Barack Obama’s jobs bill to include a new 5 percent tax on income above $1 million — a proposal that is sure to be blocked by Republicans.Senate Majority Leader Harry Reid, D-Nev., said Wednesday he is changing the plan in an effort to attract more votes from fellow Democrats. He said he plans to bring the bill to the floor next week. Reid, however, wouldn’t predict whether Democratic senators would unite behind the measure, which is unlikely to get any support from Republicans.
The new tax would replace tax increases sought by the president. Obama’s plan called for raising taxes by limiting itemized deductions — including those for charitable donations and mortgage interest — for individuals making more than $200,000 and married couples making more than $250,000.
Reid said the millionaire’s tax would cover the entire cost of Obama’s jobs bill — about $450 billion over the next decade.
Sen. Chuck Schumer, D-N.Y., said there was opposition to Obama’s plan because people making $250,000 or $300,000 in high cost areas, like New York, don’t consider themselves rich.
“Drawing a line at $1 million is the right thing to do,” Schumer said.
The top income tax rate is currently 35 percent, on taxable income above $379,150. Under the bill, the new top rate for millionaires would go to 40 percent.
Reid announced plans to move the bill as Obama tried to blame Republicans for Congress’ failure to act.
======
Tax the rich enough and they won’t be rich any longer….
- Green Jobs Training Program Falls Short, Should Return Funds– A $500 million green jobs program at the Department of Labor has so far provided only 15 percent of current participants with jobs, leading the agency’s inspector general to recommend that the bulk of the money be returned to the Treasury.The program, which was funded through the American Recovery and Reinvestment Act, aims to find employment for almost 80,000 people by providing grants for labor exchange and job training projects. With those grants expiring over the next 15 months, IG officials concluded that the program would fail to come close to that target.
More than $300 million remains unspent, according to the report (pdf). Sen. Chuck Grassley (R-Iowa), who requested the Labor audit when he was ranking member of the Senate Finance Committee, said the findings show that Congress should focus on creating jobs in all sectors of the economy.
“This report paints a pretty bleak picture of the program’s effectiveness in job creation,” he said in a statement. “It’s hard to see how leaving $300 million in unused funding for the program in the hands of the Labor Department benefits either the taxpayers or the unemployed.”
======
Another busted Obama “Green Jobs” initiative.
Return the damn money to the government…..
- Flap’s Dentistry Blog: The Morning Drill: October 5, 2011 – Today’s top health and dentistry headlines…..:
- Dilbert October 5, 2011 – Room to Grow » Flap’s California Blog – Scott Adams and Dilbert today award Employee of the Month…..an honor?
- Day By Day October 5, 2011 – Numerology | Flap’s Blog – FullosseousFlap’s Dental Blog – Day By Day October 5, 2011 – Numerology #tcot #catcot
- foursquare – I’m at Rio Hotel & Casino (3700 W Flamingo Rd., at S Valley View Blvd., Las Vegas)
- Flap’s Links and Comments for October 3rd through October 4th | Flap’s Blog – FullosseousFlap’s Dental Blog – Flap’s Links and Comments for October 3rd through October 4th #tcot #catcot