JOBS Act & Why It’s Bad For America
When you see a bill before Congress called the JOBS act, it’s easy to assume that it has something to do with a federal jobs program that will put unemployed Americans back to work. Well, it’s time to get your acronym on and guess what JOBS actually stands for.
Job Organizations Bringing Seasonal employment
Job Opportunities Between Shores
Job Options But for the Shoeless
Give up? The correct answer is: Jump-start Our Business Start-ups.
So what the hell does that mean? I’ll let the much smarter than I am Gail Collins explain:
Basically, it relieves businesses that are preparing to go public from some of the most important auditing regulations that Congress passed after the Enron debacle. Also, new public companies could delay following the rules on disclosing executive compensation that were passed after the 2008 Wall Street implosion. And salesmen could market stock in new companies to small investors on the Internet.
I’d be more inclined to support the Steve Jobs act – iPads for all! And believe me, I do NOT want my tax dollars to pay for a bunch of overpriced, Flash-less tablets that will be obsolete when Apple releases a new version six months from now.
There is shocking amount of bipartisan support for this awful legislation, so unless you sign a petition and/or email your members of Congress, the status quo will back just as soon as they can vote yes.