Amazing New Jobs Bill

Wow! The congress and president are excited that they passed a "bi-partisan" jobs bill. Yep, they say it will inspire businesses to hire people by giving them a "tax holiday" on the Social Security Tax employers pay.

Just how will it work? Well, you hire someone who's been unemployed for 60 days or more and the business is exempt from the 6.2% (of annual salary on this employee) for the remainder of 2010. Sounds great doesn't it? Until you consider; on a $20,800 annual salary ($10 per hour), it would result in a $1,290 (annual) saving for the company, but it is still costing the business $20,800 to pay the employee, plus unemployment and workman's comp that are both based on payroll, and oh yeah, there may or may not be the actual work there to support hiring an employee...duh!

And here's the kicker; the uncollected revenue will have to be made up by the taxpayers (you and me). When will the idiots in D.C. understand that you need customers buying goods and services to justify hiring workers?