Jobs bill set to give tax cuts to businesses to hire more people

Even the Obama Administration acknowledges that this aspect of the legislation will only marginalize unemployment slightly. A few workers will added to the workforce, but many - most- will remain bitterly out of work.

But an the article PROMISES, PROMISES: Jobs bill won't add many jobs cites the likelihood of businesses hiring people to get a tax break is very low. Businesses need to "re-up" their demand for their products (which won't happen until people start buying again) before they start hiring more people.

"We're skeptical that it's going to be a big job creator," said Bill Rys, tax counsel for the National Federation of Independent Business. "There's certainly nothing wrong with giving a tax break to a business that's hired a new worker, especially in these tough times. But in terms of being an incentive to hire a lot of workers, we're skeptical."

So what kind of a "break" are we looking at? Businesses would be exempt from paying a 6.2% Social Security tax on wages of workers who have been employed for at least 60 days (When we're all old with no SS, we will know that it went to the business tax-breaks!)

"The nonpartisan Congressional Budget Office recently concluded that reducing Social Security taxes for companies that add workers would be among the most efficient ways for the government to create jobs. However, in showing how difficult it is to create jobs through tax policy, CBO estimates that such a tax break would generate only eight to 18 full-time jobs per $1 million in tax breaks."

Looks like this one is not the answer. The Big Package Bill gives other things to the unemployed, like subsidies to help the jobless pay for health care coverage, but this bill seems to be more of a "cherry on top" after job growth has already been spurred, not the lone answer to millions of Americans problems. So keep on being Agnostic, President Obama...