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Economist says jobs bill could create 300k more jobs

By Jay Heflin - 02/18/10 02:36 PM ET

Economist Mark Zandi predicted the payroll tax credit included in Senate Majority Leader Harry Reid's jobs bill could create more than 300,000 jobs.

The tax credit is the brainchild of Sen. Chuck Schumer (D-N.Y.)

"I think Senator Schumer's plan has very good potential for generating a couple 300,000 jobs," he told reporters.

Schumer's provision give employers a tax credit for hiring workers that have been unemployed for more than 60 days. Business leaders have questioned the measure, saying customer demand, not a tax credit, will provoke businesses to hire.

Source:
http://thehill.com/blogs/blog-briefing-room/news/81945-economist-says-jobs-bill-could-create-300k-more-jobs
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Comments (13)

Is this the same economist that said the $787 billion pork bill would create 3.5 million jobs? Hum, we all know how well that has gone… Maybe Zandi should go back to school.BY JLC on 02/18/2010 at 15:08
If tax cuts work why do democrats constantly want to raise taxes.Further, if this is a legitimate action, why did we borrow and print a trillion a year ago?Did the Hill replace the 'parrots' with reporters, or do they figure a democrat senator doing the right thing is now newsworthy?BY TaxCutDude on 02/18/2010 at 15:17
JLC, couldn't have said it better !!!BY azjim on 02/18/2010 at 16:00
@JLC - No, this is the same Economist that stated Reagan, Bush Sr., Bush Jr., used Social Security money for their foolish "TAX CUTS", and these 3 right wing Republican Loons, are responsible for two third's of our "NATIONAL DEBT !" Thanks GOP Inbreds…BY GOPPUNKS on 02/18/2010 at 16:09
Schumer is a fraud. If he and the Democrats were serious about getting more jobs for Americans, they would stop peddling amnesty for illegals and order Janet Napolitano to restart the workplace riads and remove the 8 million illegal foreign workers. And this wouldn't cost taxpayers a dime.BY no hope no change  on 02/18/2010 at 16:41
Businesses are not going to hire until they know what the impact of health care reforms, cap and trade, and Obama's tax increases in the next budget will affect them. So tax credits will have little or no impact. It's as simple as that. Until Obama and the Dems recognize this, the joblessness will stay at the present rate…and it's going to be a long spring and summer until Nov.BY Butterflylady on 02/18/2010 at 17:08
I have a few questions for Mr. Zandi as an American taxpayer. Looks like you need to give us an actual to expected from your Jan 21, 2009 analysis of the American Recovery and Investment Act…and complete explanations for the differences. Table 3, page 12. I'll be looking for it on your website.BY chercast on 02/18/2010 at 18:24
Tax breaks for business and individuals will create jobs. Money in the hands of the people. Not short term feel good jobs for 300k. We need a long term jobs bill with some forward looking wisdom. All we can expect is political pay back and smoke and mirriors from the Democratic crooks in power. Come on November 2010!BY Doug McManus on 02/18/2010 at 19:51
Zandi appears to be angling for a seat on Obama's crony capitalist gravy train. Oh, and by the way. is this the Democrats focusing like a lazer on jobs, jobs, jobs? They come up with a plan to create 300,000 jobs when the economy has lost 4 million since Obama's inauguration. Cheney was right, Barry O! is a one termer. If he even makes it that far.BY Brian Goettl on 02/18/2010 at 21:46
As a small business owner I would gladly accept a tax credit IF I was going to hire anyway. Be certain that Dem's will measure this bill based on how many credits are given and not how many jobs are created. It goes to show you how clueless these people are. They don't understand that 3000 or 5000 dollars in a tax credit doesn't offset the cost of hiring someone THAT YOU DON"T NEED .Demand for you goods or services will drive hiring.BY larry chiaravallo on 02/18/2010 at 22:15

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