Posted on 12/08/2009 8:29:12 PM PST by Nachum
WASHINGTON (AP) - President Barack Obama on Tuesday proposed a tax incentive for small businesses that add workers, even as Congress struggles to figure out how such an idea would work.
Lawmakers have been working for several months to develop a tax credit for businesses that hire workers, but they have been unable to figure out how to do it in a way that won't be abused.
Neither Obama nor his top advisers offered details Tuesday. They didn't say how big the tax break would be nor how it would be administered. Obama pledged to work on the issue with Congress.
(Excerpt) Read more at breitbart.com ...
“Obama pledged... blah, blah, blah.”
YOU LIE.
Obama is America’s First Failed Black Pres-dent.....
The way to do this is to give a tax credit or accelerated, uplifted depreciation for investment in capital equipment or facilities. Workers are then needed to run them. Otherwise if the wage is the only thing subsidized, the job goes away when the subsidy runs out.
Doesn’t this genius and his minions know there already is such a program in place? It’s called TJTC http://www.answers.com/topic/targeted-jobs-tax-credit
Already have accelerated depreciation, do you want to start buying it for them. Free Money, free money, it is still digging the hole deeper.
Is he cutting taxes???????? Gee, so Reagan of him. LOL!
That's strange... That problem certainly didn't stop them from doing the bank bailouts, cash for clunkers, new homeowner tax credits, GM restructuring, ad nauseum...
It's certainly not going to stop them with Health Care "Reform", Cap and Trade, and the like.
How and why is this any different?
1) Nationalize Healthcare
2) Nationalize Autos
3) Natinoalize Banks
4) Nationalize Home Loans (FHA)
5) Nationalize Student Loans
6) Force Unionization
7) Tax Increase on Income
8) Tax Increase on Capital Gains
9) Tax Increase on Death
10) Tax increase on Carbon
11) Tax increase on Healthcare
12) Massive Deficits kill the dollar
13) Massive Priting kills the dollar
Who would be stupid enough to hire in the USA under those conditions?
Payroll tax holiday for a while. Wow that was easy. Idiots in DC. Socialists and dumb to boot.
"You can write off certain expenditures in a single calendar year, instead of depreciating them over a number of years – giving an immediate tax benefit for 2009. Businesses can deduct up to $250,000 for purchases of equipment, including computer hardware and off-the-shelf software, in 2009.
To the extent that you cannot take the Section 179 deduction, you may be able to claim a bonus first-year depreciation of 50% of the remainder of the cost of the items purchased. In order to qualify for the accelerated Section 179 Deduction, the equipment must be purchased or leased and put into service by December 31, 2009.
They don’t even have a clue. They think business exists to hire people, what marroons.
Pray for America’s Freedom
” use the savings “, what, are you from DU, there are no savings. It’s just not additional debt.
Obviously, then it wasn't a good idea in the first place.
jimmuh cartah
Yes, that what the democaps say ever time they wish to spend more, just like you. Free Money, Free Money!
Exactly! The communist clowns now running -- I mean ruining -- our country have no idea how businesses are run, how they are created or even why they are created and exist in the first place. They behave just like the murderous creeps the drove Russia, China and other countries into backwardness and poverty for decades. I imagine the Democrats and Obama would love to turn America into a copy of North Korea. I bet they think North Korea is paradise.
You know this nasty is lying right through his teeth.
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