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32 years for Uncle Sam to recoup cost of job created by economic stimulus
By: Mark Tapscott
Editorial Page Editor
11/02/09 2:02 PM EST
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.
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