32 years for Uncle Sam to recoup cost of job created by economic stimulus

 Ed Morrissey at Hot Air did some calculating on the time required for the federal government to receive back in taxes what it cost to create each job under President Obama's economic stimulus program. Here's what he found:

“At an effective tax rate of 15%, it would take 32 years and five months — almost the entire career of the person holding it.  At an effective tax rate of 20%, it would take less … just 24 years, four months.

“Or let’s consider the administration’s wildest claim, that of a million jobs saved or created at $159,000 per job.  At the 15% effective tax rate, it would still take almost 21 years to pay back the principal; at the 20% rate, 15 years, seven months. And bear in mind that this calculation applies all of the federal taxes paid to paying back the cost of the stimulus that created the job.”

Go here for the rest of Ed's analysis. See especially his observations regarding the apparent absence in the Obama White House of anybody with any genuine private sector management or budgeting experience.

 

 

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

‘Mad Mob’ aims to influence SF City Hall on mental health policies

They are fed up with City Hall telling those who need the services what’s best for them

Police efforts to stem 49ers revelry in Mission District spark backlash

SFPD preparing for potential bonfires, vandalism on Super Bowl Sunday

Calendar of Events: San Francisco celebrates the Year of the Rat

JAN. 25 Choy Sun Doe Day: The San Francisco Chinese Chamber of… Continue reading

BART study: Ending paper tickets would ‘disproportionately’ impact low-income riders, people of color

When BART eventually eliminates its magnetic-stripe paper tickets from use, it will… Continue reading

Second case of respiratory coronavirus confirmed in U.S.

The woman, who is in her 60s, remained hospitalized Friday and her condition had been stabilized

Most Read