However, at the time of the speech, there was no jobs bill proposal from the Obama administration, so, much in the same way that then Speaker Pelosi said that Obamacare needed to be passed so that we could find out what’s in it, President Obama called for Congress to pass a jobs bill that had not yet been written. President Obama did eventually present proposed legislation to Congress on Monday– the America Jobs Act. However, as the Heritage Foundation reports, although President Obama sent a bill to Congress, no Congressional Democrats proposed the legislation, prompting Texas Representative, Louie Gommert to present his own legislation under the name President Obama gave his proposal–the American Jobs Act:
The American Jobs Act introduced in the House of Representatives looks quite different from the version President Obama outlined in his speech to Congress. Instead of hiking taxes on working Americans to pay for another stimulus, Rep. Louie Gohmert’s (R-TX) legislation offers a tax cut.
Fifth, we can and we will make America the most attractive country on earth to do business in. Here’s how we’re going to do this. Right now, we have the highest federal corporate income tax rate in the industrialized world. Did you know our rates are higher than China and communist Cuba? This doesn’t generate as much revenue as you would think, though, because many big corporations skirt federal taxes because they have the friends in D.C. who write the rules for the rest of us. This makes us less competitive and restrains our engine of prosperity. Heck, some businesses spend more time trying to figure out how to hide their profits than they do in generating more profits so that they can expand and hire more of us. So, to make America the most attractive and competitive place to do business, to set up shop here and hire people here, to attract capital from all over the globe that will lead to an explosion of growth, instead of chasing industry offshore, I propose to eliminate all federal corporate income tax. And hear me out on this. This is how we create millions of high-paying jobs. This is how we increase opportunity and prosperity for all.
But here’s the best part: To balance out any loss of federal revenue from this tax cut, we eliminate corporate welfare and all the loopholes and we eliminate bailouts. This is how we break the back of crony capitalism because it feeds off corporate welfare, which is just socialism for the very rich. We can change all of that. The message then to job-creating corporations is: We’ll unshackle you from the world’s highest federal corporate income tax rate, but you will stand or fall on your own, just like all the rest of us out on main street.
Today, President Obama spoke at a North Carolina company (which just so happens to be sending jobs to Costa Rica due to America’s economic policies) encouraging people to support the American Jobs Bill:
Yep, you heard that right. If you love President Obama, you’ll help him pass the bill. The Democrats in Congress did not take up the bill presented by President Obama on Monday, which allowed Representative Gommert to propose the American Jobs Act himself with different policies. Considering Gommert’s bill is simply a proposal to do just what Governor Palin suggested it in her Tea Party speech, we can conclude that if America really loves President Obama, we’ll support Congress in implementing Governor Palin’s policy ideas.
What do you say, Americans? Shall we show our love for President Obama by supporting Governor Palin’s economic policies?