President Barack Obama’s jobs plan is nothing more than stimulus junior and is destined to fail like the five-year plans of the old Soviet Union, Rep. Ted Poe tells Newsmax.TV.
The Texas Republican said that, simply put, the idea that giving the government more control over money by raising taxes and spending as it sees fit will not work.
“It’s junior stimulus,” Poe said of the president’s last ditch effort to get the economy back on track. “The first one was $870 billion; this one is $475 billion. The first stimulus bill did not work, did not help the economy, didn’t save us all like the president promised that it would. So the administration’s way of proving failure is to do it again and make sure that it really doesn’t work.”
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However, the president managed to get one thing right, lowering the corporate income tax.
“We have the highest corporate tax in the world,” Poe said. “We need to lower it down to 25 or even less so that automatically overnight that will create more jobs because business will have more of their own money to keep instead of giving it to Uncle Sam.”
Regardless, Poe maintained Obama has been driving the economy “off the track since he took office” because his concept of the economy is not sound.
“His idea is that the government should control every aspect of not only our lives but of the business community, of the banks through regulation and more Washington control. … The concept of the five year plan, the old really Soviet idea of the government controlling the economy seems to what he’s doing,” he said.
“And just like in the Soviet Union it has not worked and it has created economic uncertainly. People who have money are not spending it because no one knows what’s going to happen next. The economy is certainly not better than it was when he took office. He’s made really a bad economy even worse with his policies.”
On other issues, Poe said:
- The Obama administration’s half-billion dollar financing of collapsed solar panel firm Solyndra “doesn’t pass the smell test.” He added that the fact that one of the company’s investors donated $53,000 to the president’s 2008 campaign sounds like “old-fashioned Chicago cronyism.”
- His American Land Act could raise $200 billion to pay down the national debt by selling off some of the land the United States government owns. “Over half the land in the West is owned by the federal government. It’s time for the federal government to let Americans own America and bring in some revenue to the federal treasury.”
- That the special election in New York that flipped a long-time Democratic seat to the Republican side was the result of a number of issues including the Orthodox Jewish population, the president’s economic and Israel policies and a Democratic candidate that supported gay marriage and construction of a mosque near ground zero.
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