Read My Lips, No New Jobs

Ever since the depths of the current recession, (yes, current recession) I have said that there will be no economic recovery with the creation of jobs. Jobs is the key! And jobs have not been created faster than they have been disappearing.

The sense of recovery that we have had up till now has been a false recovery. It has come from the government printing money, bailing out corporations, and overpaying unemployment. The stock market has gone up because the government has given corporations billions. Mean while the private citizens of this country have spent their nest eggs, used up their savings, and have refinanced their houses to survive. All of us know people who have lost their jobs and can't find one.

A few months ago a rating agency lowered the United States debt rating, which basically means that our ability to pay back our loans is being called into question. Today the Wall Street Journal carries and article that Moody within a month could also be reviewing our debt rating if congress does not strike a deal on the debt ceiling. If Moody downgrades our debt rating the recession will deepen and more jobs will be lost.

Stocks are suffering now as smart investors are now pulling money out of the market bracing themselves for what they believe is coming. This means that your IRA or 401K will take another hit. Retirement is getting further away, which mens you will have to work longer at jobs that will soon cease to exist.

The fools in the White House and Congress do not seem to understand this. But why should they care, they live off from government checks, which are paid for by the taxes that you will soon not be paying if your job goes away. But I guess the President and lawmakers will always get paid even if it means..... more borrowing.

We need less taxes, not more. For example, I run a small business which means I am self-employed. Which also means that I pay 16% of my net pay in self employment taxes regardless of how much or little I make. Then we add federal and state taxes. If I net $60,000 per year, I could easily pay up to 40% of that in taxes. That's $24,000 leaving $36,000 for me. Of course that figure does not include property tax, sales tax, licensing my vehicles, a special tax when I buy tires, taxes on my phone, cable, electricity, and gas.

The United States has taxed itself poor. Our industries are at a disadvantage on the world market because of excessive taxes. This means that our jobs are going someplace else. Some argue that these are low paying jobs that are going overseas. Well, not all of them. And right now there are Americans that would like even a low paying job.

The number one job our our government is to provide an atmosphere desirable for businesses to start up and grow. Business will provide the jobs needed.