Edwards says he can create 100,000 jobs in 4 years

[renie408]

http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20030909/APN/309090704

By HOLLY RAMER
Associated Press Writer

BEDFORD, N.H. --
Democratic presidential hopeful John Edwards told an audience of business leaders Tuesday that he can create 100,000 new jobs in four years by closing a tax loophole for wealthy investors.

The North Carolina senator said investors are abusing a 1954 law that allowed the creation of small, tax-exempt insurance companies to help farmers and those who otherwise couldn't obtain insurance . Because the law doesn't limit the investment income of such companies, accountants have advised clients to set up sham insurance companies as tax shelters, he said.

"The result has been that billionaire investors use this exemption as a vehicle for receiving millions and millions of dollars of investment income, tax-free," Edwards said. "No one ever intended it for that purpose. It was mistake, it was intended to focus on something else, and it needs to be closed down."

Edwards said he would close that loophole and use the money for a venture capital fund, which would help entrepreneurs in areas hard hit by job losses.

"I think we need to replace the jobs we've lost, and not just replace them at-large but make every effort to replace them in the very communities where the job loss has already occurred," he said.

[Drifter]

1. He better do better than that ...

bush is shedding jobs at about 100,000 per month.

Cheers
Drifter

[renie408]

2. Well

It's a start and the most specific thing that I have seen any candidate say about creating jobs. But you are right. Sometimes I feel such a sense of urgency about getting Bush and Co. out of the White House. I wonder if we can afford another 16 months of them.

[chimpymustgo]

3. This is but one idea out of many he has.

And at least he's offering some specifics.

www.johnedwards2004.com

[Malikshah]

4. I can go one better.

I can name that tune in 4 notes!....

(sorry--the cadence of the original message had this pop in my head)

[Pavlovs DiOgie]

5. Edwards has been turning up the volume lately

I can't wait to see him in the next debate. He's been coming on stronger and stronger!

[LuminousX]

17. One practical method

I don't think he is saying "100,000 jobs, that's it" but is saying that in this one simple way, he can add 100,000 new jobs to the economy. It looks like a solid proposal worthy to be looked into.

Even if that money doesn't get shunted into his venture capital fund thingy, the loophole looks like it needs to be closed.

[cprise]

6. So what? GWB can create 4 jobs in 100,000 yrs!

So... there!

[bif]

7. A small dent in the 3 million Shrub sent overseas.

n/t

[renie408]

10. Not to 100,000 currently unemployed people.

[helleborient]

8. It seems like an unfortunate title to the thread...

Because it seems like he's not talking about big picture job creation...and how much can be created overall. He's talking about a very specific example of job creation opportunities that are currently being ignored by the administration.

[renie408]

9. And that's wrong because....???

*sigh*

I will go get the links to his 'big picture'. I thought it was a neat example of something specific being said. I didn't realize that broad strokes are better.

[helleborient]

11. I don't think that's wrong at all...

I thought people were being dismissive of the content of his points because of the thread title. And I think that's unfortunate.

Please...just because Dean is my chosen candidate at this point, I'm not ignoring positive statements by other candidates.

[renie408]

12. Sorry

I am a little head shy at this point. I had promised myself that I would try to post something positive about Edwards every day or so and also to reply to everything I could that would keep getting his name brought up. Edwards is the first politician that has really made me sit up and think, "Hey, I really WANT this guy to be President." I am pretty new to any kind of political...anything and this has been a real eye opener for me. I have had what I thought were some pretty innocuous 'happy' posts slammed here. Sorry again for being head shy.

[helleborient]

13. No problem...

I'm pretty new, too to DU...not as new to grassroots political work, but the skin is thickening.

[sandnsea]

14. I think he was targeting an audience

That's what Edwards does. He talks about specific things related to an audience that they'll immediately connect to. Show where laws are hurting business and how he can turn them around to help business. I think the writer either didn't get it or didn't want to. In watching reporters interview people on C-Span, I've sometimes been less then impressed.

And it kind of sounds like he addressed frivilous lawsuits, but asbestos really isn't frivilous although I don't know how responsible certain companies can really be if nobody knew asbetos was harmful. I don't understand that whole issue. I hope he responded more strongly then the article suggests because I don't want to see him labelled a trial lawyer that's killing small business. He's going to have to fight on that one.

[davidinalameda]

15. cool--when is he quitting the race to start creating these jobs?

face it, government has a limited ability to create jobs in the private sector unless they are being funded by public money

[sandnsea]

16. not exactly

That's certainly part of it and has always been an important factor in the economy. The US has always invested in public projects to help put in the infrastructure and framework for economic growth, well until Bush.

The kind of tax policies you have also provides incentives for investment and economic growth. If we have programs where people are getting tax breaks and the programs aren't helping the economy anymore, then those tax breaks need to go. And if changing the program can provide the investment stimulus that will actually create jobs, then they ought to be changed. That seems to me to be what Edwards is saying here.

[polpilot]

18. O.K.

Dean '04...