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.

 

 

Barack ObamaBeltway ConfidentialCongressUS

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

Union threatens legal action after Police Commission expands use-of-force policy

San Francisco’s police union is pursuing legal action after the Police Commission… Continue reading

City Attorney seeks to recoup ‘illegal profits’ gained by Walter Wong through city contracts

San Francisco will seek to recover “illegal profits” gained by well-known permit… Continue reading

SF Police Commission votes to expand use-of-force policy

Decision to bypass union negotiations could set stage for litigation

Free Muni for Youth program expansion halted by SFMTA budget crisis

Low- and moderate-income kids can still travel for free

Newsom orders multiple counties to shut down bars, indoor restaurants as COVID-19 cases rise

As confirmed cases of COVID-19 rise in California, Gov. Gavin Newsom on… Continue reading

Most Read