Even if you add in all possible “indirect” jobs that could be attributed to this subsidy flurry, it still works out to $1.63 million in subsidies per job created, according to the report.
Just to be clear, this isn’t some taxpayers federation or Republican Party group writing this scathing review. This is the US government itself.
Consider that $1.63 million dollar figure. Imagine a WPA style program such as busy work/cleanup that a city might normally not do because of regular budget. Say 3 ten man crews at $30,000 each plus another $10K in side expenses and taxes. Add a chief to run each crew, say $50K each with taxes and one guy to supervise the supervisors, let’s make him expensive: $100,000 counting benefits and taxes on say an $80K pay.
$1.2 million (work Crew 39 men)
$ .15 million (Three crew chiefs)
$ .1 million The supervisor
That adds up to $1.45 Million dollars, employing 34 people vs $1.63 million for one.
But we can’t have that can we? After all none of those 34 people are in a position to kick back money to the campaign.
William Jacobson (Cornell) blogs the tax consequences of the Obama campaign’s Dinner With Barack fundraising raffle. Three winners and their guests will receive:
Roundtrip airfare (valued at $1,200)
One night in a hotel ($200)
Dinner with President Obama ($200)
The rules state that “all federal, state and local taxes associated with the receipt or use of any prize are the sole responsibility of the winner.” The $1,600 is includible in each winner’s income under § 74 — at the 35% rate, that results in $560 of federal income tax.
Imagine you are a retired black person who was so proud to see the first black president elected and decides to give that $3 from her fixed income to get him re-elected, Just imagine her face after winning that dinner with Obama her getting that $560 tax bill.
That image is the Obama administration in a nutshell.
Update: The DaTechGuy Fundraiser is in progress, our goal is $3000 and any help is appreciated. For details click here for the progress check the thermometer to the right and to kick in hit DaTipJar”.