Make It In America

Republican Policies "Don't Really Do Much to Reduce Unemployment and Grow the Economy"

With all eyes on the Super Committee this week, Republicans still can’t hide from the fact that they have yet to offer a comprehensive jobs plan of their own.

 Democrats have offered numerous plans to get America working again—including the Make It In America plan and President Obama’s American Jobs Act, but so far the GOP has refused to go along with any of them. Instead, Republicans have chosen to offer smaller measures designed to reduce taxes for the wealthiest among us that don’t do nearly enough to help the millions of Americans still out of work.

 And according to the non-partisan Congressional Budget Office, what few ideas the GOP has offered up will not do enough to reduce unemployment.

 As TPM reports on CBO head Doug Elmendorf’s testimony before the Senate Budget Committee yesterday: 

“But [Elmendorf’s] prepared remarks… imply that the GOP’s economic counter-proposals would do almost nothing to actually improve things.” 

“…And as you see the plans conservatives favor don’t really do much to reduce unemployment and grow the economy. Cutting income taxes across the board is less effective than anything that puts money in the hands of people who need it to pay for necessities (extending unemployment insurance and the payroll tax holiday are both top Obama goals). Letting corporations repatriate foreign-earned profits tax free (as Republicans want) does almost nothing, while creating incentives for firms to hire has a fairly substantial effect.” 

Or here it is in handy chart form: