Thursday, January 08, 2009

Dems Turn on Obama's Tax Cuts

It seems there isn't a consensus of opinion on the Democratic side after all.

They were especially critical of a proposed $3,000 tax credit for companies that hire or retrain workers.

"If I'm a business person, it's unlikely if you give me a several-thousand-dollar credit that I'm going to hire people if I can't sell the products they're producing," said Sen. Kent Conrad, D-N.D., a member of the committee.

Conrad is on the mark when it comes to hiring people but he glossed over the retraining part. I can see some employers getting the tax credit by sending some of their employees to classes or seminars in order to qualify. So you pretty much send someone to an Excel class at the Learning Annex or something for a few hundred dollars and then use the rest of that money for other purposes. It is only a sop to small businesses in the first place.

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