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Bush Signs Bullshit Jobs Creation Act

Sufferers Paradise.jpg

It's called the American Jobs Creation Act of 2004. What it really is is a flaming colossus of special-interest tax breaks. Kathleen Pender writes:

The new law is billed as a jobs creation act, but contains little that requires or even encourages companies to hire workers.

Will it create new jobs? "Jobs for tax professionals, yes," says Scharin.

Here are a few of the details:

The bill is a treasure trove of tax goodies for companies ranging from General Electric to Plano Molding Co., a maker of tackle boxes in Republican House Speaker Dennis Hastert's Illinois district.

Current law imposes a 10 percent excise tax on imported fishing equipment. It seems some anglers are stowing their lines and lures in sewing kits, which are not subject to the tax.

So Plano's representatives backed a measure to cut the tax on tackle boxes (but not other fishing gear) to 3 percent.

Among other minutiae, bows such as those used for hunting are subject to an 11 percent excise tax if they have a peak draw weight of 10 pounds. The bill increases the peak draw weight to 30 pounds before a tax applies. It also repeals the tax on all fish-finding sonar devices.

In a stroke of bad timing, the bill imposes a 75-cents-per-dose tax on flu vaccines, to be paid by the recipient. The tax is equal to that imposed on other childhood vaccines and will go into a vaccine injury compensation fund.

Sen. John McCain, R-Ariz., who did not vote on the bill this week, called it the "worst example of the influence of the special interests I have ever seen."

What makes me livid is not just the cost of the tax breaks, but the fact that in the midst of war and a health care crisis, our elected officials are worried about the peak draw weight for taxable bows.

More on this from Allan Sloan in Newsweek.

Here was Ford Motor Co. announcing yesterday that it had cut 10,000 jobs last year and that it will cut up to 30,000 more. But shedding jobs at muscle-car acceleration rates didn't stop Ford from pocketing hundreds of millions of dollars courtesy of the American Jobs Creation Act.

No, I'm not making this up. Right there, on page 2 of one of its news releases yesterday, Ford said that "repatriation of foreign earnings pursuant to the American Jobs Creation Act of 2004 resulted in a permanent tax savings of about $250 million."

Hello? How can you simultaneously cut jobs and benefit from the American Jobs Creation Act? Welcome to the wonderful world of Washington nomenclature.

Welcome to a population of apathetic Americans who either don't go to the polls or who go to the polls but vote for party lines instead of for people, thus shoving down our throats the sleazebags who push this crap on us. Too many of the people running this country are less legislators than they are cheap grifters, conning the rest of us the Washington way to pay for their bridges to nowhere and all the rest of their local pork.

link via Sploid, photo by Gregg Sutter

Posted by aalkon at January 26, 2006 12:03 PM

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Comments

This has been going on since I was a kid: Asking people to feel sorry for Detroit (INCLUDING THE UNION WORKERS) is a tough sell. Too many of us have had reliability problems with their products, problems which at the time seemed to set our lives back in meaningful ways. Kaus says the unions play a prominent role in the Big Three's inability to pull things together. Amy, did you ever consider buying a Detroit product instead of your import? Which product?

Yes, Bush is full of shit. Yes, McCain will probably be our next president, if he's healthy enough.

Posted by: Crid at January 26, 2006 1:05 AM

Aargh! Voting along the party line infuriates me! Essentially, the country is being run by two people: Democrats and Republicans. If you have a different view or mix of view from different parties, then you have no chance of electing someone who can make a change. Even if you did manage to get an independent or third-party candidate into office, they would have no power against the ruling classes.

Tell me again how the Roman Empire fell. Wasn't it corruption, excess luxury, and ignorance? What makes us any different?

Posted by: Silver_Fox at January 26, 2006 5:40 AM

Shit.

This has nothing to do with jobs, but Hamas is running Palestine now. It won 50% of the seats in parliament. It has almost twice as many seats as Abu Mazen's supporters. If even one of the other parliamentary elects switches to Hamas, they have absolute control over everything that happens in the disputed territories. Hezbollah controls a substantial portion of Lebanon.

THIS is exactly why I never supported arab democratization. This was my fear: that given the vote, arabs would elect people who are even worse for us than people like Saddam and Qadaffi.

Our last hope for that region's future is that somehow, someway, the Iraqis come up with a government that isn't an Iranian echo. I'm not holding my breath.


The bill:
I don't think any vaccines should be taxed, but 75 cents isn't prohibitive and I don't see why vaccines that don't work (flu) should be exempt while ones that do (the rest) are taxed.

The Ford bailout is as ridiculous as it was when it was the USAIR bailout.

This congress sucks.

Posted by: little Ted at January 26, 2006 10:44 AM

Jesus Christ! (seeing the machine the Professor was standing beside) casinos The Professor shrugged .

Posted by: Ayanna Delia at July 30, 2006 2:19 PM

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