Bob's Links and Rants

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Tuesday, April 22, 2003

I ranted last year about how crazy it was for Alabama to outbid other states to get a Hyundai factory located in Montgomery at the cost of $133 million, or $66,500 per job (see, scroll down to April 29). But Alabamians are rank beginners compared to the Bushies! Paul Krugman points out that the Bushies are claiming that 1.4 million jobs will be created by their plan to cut $726 billion in taxes, which works out to over $500,000 per job. Krugman points out that it would be a lot cheaper for the government just to hire people directly. By my calculations, $726 billion could pay 5 million people $29000 a year for 5 years--more if it were earning interest! It would also go to people more likely to spend it (on something other than Lockheed Martin (destroy) and Bechtel (rebuild) stock), giving a further boost to the economy. Of course, all of this is sophistry--there is no $726 billion to be dolled out in either tax cuts or jobs programs. Instead, it is being looted from the states and from the future.