Obama, O'Malley jobs programs won't work

February 09, 2010

Both the Obama and O'Malley administrations recognize that small businesses create the majority of new jobs. They have good intentions in their proposals for small business. However, I believe neither program will work.

As the retired co-owner of a small business, I can tell you the short-term, limited proposals by President Obama and Gov. Martin O'Malley are insufficient incentives to justify the long-term commitments of hiring new employees. The growing deficit, together with the expiration of the 2003 tax reductions at the end of this year, mean higher taxes in the near future.

The economic lessons of the Kennedy and Reagan administrations tells us that the best way to get the economy moving is to cut taxes across the board and reduce spending. The federal government needs to get away from social engineering through taxation inducements. What they seem to fail to understand is that the entrepreneurs who take the risk in creating businesses are most likely to be in the top income brackets, the very ones the federal government looks to for future tax increases. We really need more members in Congress with business experience.

Want to get the economy moving again and improve job creation? Remove the present high uncertainty about the future, and extend the 2003 tax reductions now!

Benedict Frederick Jr., Pasadena

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