Young Republicans Kickoff Event, 4/15/09

Did You Know - Stimulus


In recent weeks Republicans have presented many ideas to stimulate the economy, promote growth and create good jobs. All those plans were defeated in Congress by Democrats. Featured in those plans was an immediate decrease in taxes for all businesses as well as individual income taxes.

 
  • Increases Disposable Income per family an average of $1300 in 2009, up to $4500 by 2013
  • Lower effective tax rate for Small Business (U.S. Corporate tax is 2nd highest in the world) to 14.8%, allowing for job growth, and creation of new jobs, small business is responsible for 90% of new jobs.
  • Historically by cutting marginal tax rates, millions of jobs are created in the private sector. John F Kennedy 1964 Tax Reductions led to 9 million new private sector jobs in 5 years. Ronald Reagan’s 1981 Tax cuts led to 7 million new private sector jobs in 5 years. The continuing policy of tax reductions continued to create 4 million and 6 million private sector jobs in the years 2001 and 2003 respectively.
  • Employment increases: 500,000 jobs 2009, 1.3Million 2010 and an additional 3Million 2011-2012.
  • Cost of the Republican plan defeated by the Democratic majorities in the House and Senate cost approximately ONE HALF of the plan that did pass. The failed Republican plan created approximately ONE and ONE HALF as many jobs as the plan passed by Democrats.
 
Did you know…./Questions
 
For every dollar the government borrows there is a dollar less for families and business’ to borrow, and when the government borrows it drives up the cost of borrowing for families and businesses.
 
As stated above, HISTORICALLY results of government initiative evolves over time. Recent borrowing by the government now will have a negative effect felt in 2 to 5 years. 
 
Do you feel that your sources of news and information have a political bias, or agenda in their reporting or commentary?
 
90% of the new jobs created will be with companies of 500 or less employees. Is it good or bad that the Obama administration and Democratic Congress implement policy that is detrimental to that portion of the private sector?
 
 
 
If the government controls:
 
  • Your retirement (Social Security, 401K. etc.)
  • Health Care (Medicare, Medicaid, Nationalized)
  • Personal Bonuses
  • Business Profits
  • Increases on all levels of Income Taxes
 
As a U.S. Citizen will your freedoms and liberties be enhanced or diminished?
 

Source:  The Heritage Foundation