On one level, the JOBS Act is full of promise. On another some of the elements are downright ugly. As Shah explains, its buyer beware. Continue reading...
American Jobs Act
- The Ugly Truth About the Promise of the JOBS Act
- The Good the Bad and the Ugly Truth about the JOBS Act
- Obama's Jobs Plan Will Barely Dent Unemployment
I'm not just talking about the upcoming election and who is promising to do more to stimulate the economy. The entire future of America depends on job creation.
There are good and bad reasons why there aren't enough jobs.
Jobs have been lost because of advances in technology. Jobs have been lost because they've been outsourced.
Jobs aren't being created because banks aren't readily lending to entrepreneurs and businesses, and entrepreneurs and businesses supposedly aren't hiring because there are too many regulations and the future is uncertain.
All the reasons why there aren't enough jobs in America can be argued from both sides. And, while that's being done, arguing isn't doing anything for the unemployed.
Fortunately, there is a light at the end of the tunnel.
There is a pathway open, and hopefully soon to be widened, that bypasses all the arguments and does what our bickering partisan politicians can't do, create good jobs in areas where American ingenuity has always outshined the rest of the world.
The Promise of the JOBS ActThe Jumpstart Our Business Startups Act or JOBS Act was signed into law on April 5, 2012 and is the single best hope America has of regaining its preeminence in the world.
The JOBS Act has good, bad and ugly elements...
Furthermore, the Republican-controlled House of Representatives will surely object to several provisions in the American Jobs Act - particularly the total $447 billion price tag - further diluting its impact.
President Obama's jobs plan includes:
- Tax breaks for both individuals and businesses.
- Financial aid to states aimed at repairing schools and retaining public sector jobs such as policemen and teachers.
- An extension of unemployment insurance.
- And money to repair and upgrade transportation infrastructure, such as highways, railroads, and airports.
"There was nothing in the president's speech that would inspire the stock market one iota forward, and I think we can see that reflected already this morning," Money Morning Capital Waves strategist Shah Gilani said on the Fox Business Network program "Varney & Company."