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Will the American Jobs Act Stimulate the Economy?
After watching the speech by President Obama introducing the American Jobs Act and reading the key points about the act below continue to the online discussion and post your thoughts/reactions and your reactions to at least 2 other classmates' posts.
Do you Think it will Stimulate our Economy in a beneficial way? Here are a few important points about how the American Jobs Act works, and why Congress should act quickly: • First, it provides a tax cut for small businesses, not big corporations, to help them hire and expand now and provides an additional tax cut to any business that increases wages. • Second, it puts people back to work, including teachers, first responders and veterans coming back from Iraq and Afghanistan, and construction workers repairing crumbling bridges, roads and more than 35,000 public schools, with projects chosen by need and impact, not earmarks and politics. • Third, it helps out-of-work Americans by extending unemployment benefits to help them support their families while looking for work and reforming the system with training programs that build real skills, connect to real jobs and help the long-term unemployed. • Fourth, it puts more money in the pockets of working and middle class Americans by cutting in half the payroll tax that comes out of every worker's paycheck, saving families an average of $1,500 a year. And it removes the barriers that exist in the current federal refinancing program (HARP) to help more Americans refinance their mortgages at historically low rates, save money and stay in their homes. The American Jobs Act is based on ideas supported by both Democrats and Republicans, and is fully paid for by closing corporate tax loopholes and by asking the wealthiest Americans to pay their fair share. It would have an immediate impact on job and economic growth, but Congress has to act now. You can learn more about the American Jobs Act on Whitehouse.gov.
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1. I think it will work!
I think it is the right step to recovery. Our businesses need incentive to expand and hire new workers but they won't do that if they have to pay burdensome taxes.
posted 9/12/2011 8:41 AM
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