N. Willard: Republicans blocking efforts

The strongest and current criticism of President Barack Obama coming from the Republicans is “He didn’t create jobs.”

Mitch McConnell led the party in 2009 when he said, “Our goal must be to see that Obama is a one-term president.” The party joined the fight and Republicans have done all in their power to block attempts to improve the economy, health care, tax reform, etc. With a majority in the House since 2010 and the filibuster in the Senate, they succeeded.

In September 2011, the Sun Journal published a letter I wrote, “Pass the jobs bill now.” Called the “Rebuild America Act,” it would have created jobs by offering loans to rebuild infrastructure and start small businesses. It did not pass the House or the Senate.

I visualize Obama trying to climb a hill and the Republicans holding him back with a rope around his waist. Now they say: “See, he couldn’t even climb that hill.”

The very last thing this country needs right now is a return to the backbone of Republican philosophy of government — trickle-down economics. It has not worked in the past and it will not work now.

Although they hate regulations, if the planet is to be saved for future generations, common sense regulations are essential. Tax breaks for the super rich do not result in more jobs, just more money in their bank accounts. Walmart has destroyed thousands of small businesses.

Every American citizen should take the time to vote.

Nancy Willard, Woodstock

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Comments

Bob Woodbury's picture

Hey...

That's what Republicans are for.

MARK GRAVE's picture

“Tax breaks for the super

“Tax breaks for the super rich do not result in more jobs, just more money in their bank accounts.”

Do you know what happens to money in a bank account? The bank invests that money in whom? The bank invests that money in businesses and pays the depositor a poultry sum for the use of that money.

Unless the super-rich tuck their money under the mattress, it is invested in businesses to enable new growth and employment.

“Walmart has destroyed thousands of small businesses.” Perhaps, but the flipside is Walmart has provided lots of stuff to the American consumer at a very low price compared to the old fashion mom-and-pop stores. This allows Americans to have more pocket money to buy even more stuff.

Lastly, you cannot rebuild America on borrowed and printed money. To my knowledge, no country as perfected that form of alchemy yet.

FRANK EARLEY's picture

Mark, you are correct accept for one thing......

Most all large corporations operate to earn money, that means dividends. The first responsibility of a corporation is to earn dividends for the stock holders,or board of directors. Thats the law, who knows how they ever came up with that crazy scheme. The corporation can then allocate funds for other minor needs, like paying employee's, any insurance they might provide, and anything else needed to keep the dividends coming in. Some, but far from all, businesses consider reinvesting into the company a valuable endeavor. It's usually at the bottom of the list, until its needed.
Yes, banks reinvest the money in business, that's where the income is. but don't forget, its the stock holders who come first. It all runs down hill from there........

MARK GRAVE's picture

Frank, Banks buy stocks of a

Frank,

Banks buy stocks of a business too; that makes them shareholders. Banks also loan businesses money.

The takeaway from my comment is that money never remains idle; it does circulate in the economy, perhaps not from consumption. That is, unless you stuff it into you mattress or bury gold bullion in your backyard.

MARK GRAVE's picture

Can we please get back to

Can we please get back to teaching money skills in our schools, PLEASE!

MARK GRAVE's picture

My Epiphany!

I just had an epiphany. Perhaps teaching money skill is counter to the liberal premise that corporations are evil. Perhaps by teaching how wealth is created, we have to shine the light way from big government. Well, there goes my hope for teaching money skill in school.

MICHAEL LEBLANC's picture

Furthermore ...

... a member of a board of directors does not receive dividends, unless he is also a stockholder. A director can receive a salary, sometimes just a stipend. What's this law you speak of?

Your terminology is backwards - perhaps your understanding, too. A corporation does not earn dividends, it pays them - from profits, after all expenses and other obligations, including taxes, are taken care of.

MICHAEL LEBLANC's picture

The crazy scheme ...

... is known as capitalism. A corporation pays dividends to its owners (stockholders) from what's left after paying expenses and taxes. It's a small reward for investing their hard-earned and highly taxed money in the business. In many cases the investors are mutual funds who take the dividend income to help pay benefits to retirees. The stockholders pay taxes on their dividends - the same money is taxed twice. Now that's crazy.

Banks do not "invest" in anything. They lend money and receive interest as a form of "rent". Yes, they lend to businesses, and also to individuals for mortgages, car loans, college tuition, ...

Based on your comments, Frank, it's apparent that you have never owned stock directly. You have never opened your annual statement to find words like "Sorry, folks, but it's been a lousy year, so no dividends. Better luck next time."

Or you have owned stock in some fly-by-night scam, lost everything, and bitterly take it out on the "system". You want to see who is to blame? Look in a mirror.

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