If there’s one issue on the minds of Americans right now, it’s jobs. From the individuals who are currently looking for one, to the business owners struggling to keep current positions, to even our president and the potential candidates vying for his position in 2012–jobs (or lack thereof) are the top concern in the U.S. today. So when it comes to creating more of them, who has the best plan to date?
Current Job Plans
It’s hard to say what the definitive answer to generating more employment opportunities in our country really is, but plenty of people are trying to convince the American public that they have it. Here’s a look at a few of the current notable job creation proposals on the table:
President Obama
The man in charge has proposed a job plan that would require $447 billion. So how does he plan to generate that kind of cash? A few of the details include:
- Limit itemized deductions for individuals with more than $200,000 in annual taxable income, and families with more than $250,000
- End certain tax breaks for oil companies and corporate jet owners
- Tax carried interest gains as regular income for investment fund managers
According to the White House, these tax changes would go into effect in 2013 and raise an additional $467 billion in revenue over the next 10 years.
Mitt Romney
“America’s CEO” managed to steal Obama’s thunder and present his multi-dimensional job plan days before the president did the same.
In what he calls his “business plan for America,” some of Romney’s ideas include modernizing our economy, reducing corporate taxes and regulations, expanding trade pacts, reducing non-security discretionary spending by 5 percent, reversing 2010 health care reform laws (“ObamaCare”), getting rid of the estate tax and diminishing the authority of labor unions–just to name a few. Whew.
Rick Perry
The Governor of Texas–and Romney’s biggest rival–says if he were elected president, he would use the job-boosting tactics he’s successfully employed in the past. Perry advocates limiting the size and scope of the government, as well as cutting taxes. Unfortunately, the details are somewhat vague thus far.
Rick Santorum
Rick #2 gets a little more specific. In fact, he released a 5-point plan this past July that spells out exactly what he plans to do if elected into office:
- Eliminate the corporate tax for manufacturers in the U.S.
- Reduce the foreign income tax from 35 to 5 percent
- Permanently increase the R&D Tax Credit from 14 to 20 percent
- Repeal ObamaCare, Sarbanes-Oxley and Dodd-Frank
- Expand domestic energy exploration
Ron Paul
Oh, Ron, what a character you are.
Paul’s campaign chairman, Jesse Benton, explains he plans to reduce income and business taxes, “cut the size and scope of the regulatory burden, becoming the first president in history to shrink the size of the federal register,” as well as “undertake a full audit of the Federal Reserve and sign into law a bill to allow gold and silver to act as legal tender.”
Michele Bachmann
Bachmann has listed a host of steps she would take to make America a more job-friendly nation:
- Reduce taxes
- Cut federal spending
- Repeal ObamaCare
- Move toward a flat tax
Of course, just about everyone has their own opinion about what should be done about the job situation in the United States, and there are plenty more from GOP candidates and others. So what about you? Who’s plan are you on board with, or do you have your own plan of action in mind?
