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Obama to Propose Massive Tax Breaks for Businesses to Invest in Growth
Foxnews.com ^ | 9/6/2010 | Unknown

Posted on 09/06/2010 7:27:32 PM PDT by Blood of Tyrants

President Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to write off 100 percent of their new investment in plant and equipment through 2011, a plan that White House economists say would cut business taxes by nearly $200 billion over two years.

The proposal, to be laid out Wednesday in a speech in Cleveland, tops a raft of announcements, from a proposed expansion of the research and experimentation tax credit to $50 billion in additional spending on roads, railways and runways. But unlike those two ideas, both familiar from Obama's 2008 campaign, the investment incentive would embrace a long-held wish by conservative economists that had never won support from either Republican or Democratic administrations.

(Excerpt) Read more at foxnews.com ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: business; economy; misleadingtitle; obama; obamalies; taxes
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To: Blood of Tyrants

Here it comes … higher taxes on middle class

http://blogs.reuters.com/james-pethokoukis/2010/09/07/here-it-comes-higher-taxes-on-middle-class/

Again, Orszag accepts that Americans are undertaxed, which is left-center dogma.

Of course, the real problem is not that tax revenues will be dramatically lower long term, it is that spending will be dramatically higher.


141 posted on 09/07/2010 10:58:26 AM PDT by rosettasister
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This is a step in the RIGHT direction!

Let's see if it happens.......

142 posted on 09/07/2010 11:19:23 AM PDT by NoRedTape
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To: Blood of Tyrants

Too little, too late, even if he does go through with it.


143 posted on 09/07/2010 12:01:26 PM PDT by random_user_827 (Boot to command line and run chkdsk)
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To: usconservative

“The problem is these “tax cuts” are only through 2011 which will only spur minimal capital investment for Q4/2010 through Q3/2011.”

well, you know, there are a lot of people even here who like the idea of a tax holiday. They don’t understand Friedman’s permanent income hypothesis


144 posted on 09/07/2010 12:46:53 PM PDT by ari-freedom
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To: hsrazorback1
Wonder what’s going to happen to the Bush tax cuts?

likely Dems let them go through but not for the 'evil rich' making $250k or more...many who probably file taxes as individuals AND own a small business, effectively negating the benefits this would have made...

145 posted on 09/07/2010 1:50:12 PM PDT by WOBBLY BOB (drain the swamp! ( then napalm it and pave it over ))
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To: listenhillary
If I was competing for customers, I would surely drop my price if the corporate tax went away.

Yes, but it's not going to completely offset the reduction in the tax unless the corporation operates in a perfectly competitive product market, which most corporations don't.

In reality, corporations generally enjoy some competitive advantage/barries to entry in their products of specialization, in which case they will not be forced to pass on all the savings from a corporate tax reduction to their customers, and their shareholders will emjoy a windfall. The size of this windfall will depend on the elasticity of demand and the degree of competitive advantage the corporation enjoys.

146 posted on 09/07/2010 4:00:54 PM PDT by curiosity
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To: Blood of Tyrants

Hey, I wonder if he’ll be all for this stuff AFTER the election.


147 posted on 09/07/2010 4:30:42 PM PDT by dr_who
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To: Blood of Tyrants

Invest in what? The problem is a lack of customers with money to spend. So now businesses can double down on a losing bet.

The O-pression will continue.


148 posted on 09/07/2010 5:24:20 PM PDT by RKBA Democrat (Amateurs study tactics, professionals study logistics, and victors study demographics.)
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To: Lazamataz

Actually, it probably pass with other bs with the Dead Duck Congress with many/many rats not coming back in January.


149 posted on 09/07/2010 5:29:05 PM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: Blood of Tyrants
Absolutely, positively NO!!

If we want to cut taxes how about this radical solution, since the current President came in on the mantra of change:


150 posted on 09/07/2010 7:40:32 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: listenhillary

listenhillary, try running a Commercial Mechanical Contracting business for one year in this economy. I deal with TARP funds, VA, Disability Act legislation, private funding, Davis Bacon Act, you name it!

You don’t know what you’re talking about. Eco 101 doesn’t apply. Politics, locally, State and otherwise does. You’d sink in a heartbeat!

This thread is dead to me.


151 posted on 09/07/2010 7:43:13 PM PDT by poobear ("The greatest tyrannies are always perpetrated in the name of the noblest causes." -- Thomas Paine)
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To: VRWCmember; listenhillary

Have either of you ever run a business?


152 posted on 09/07/2010 8:39:51 PM PDT by poobear ("The greatest tyrannies are always perpetrated in the name of the noblest causes." -- Thomas Paine)
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To: ari-freedom
well, you know, there are a lot of people even here who like the idea of a tax holiday. They don’t understand Friedman’s permanent income hypothesis

My rational, informed, intelligent comments were not intended for "those folks."

153 posted on 09/08/2010 3:50:52 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: poobear
Have either of you ever run a business?

A side business, yes. Nothing big enough to involve having employees or anythign like that, and certainly not a means of supporting myself, but a business that generated a little bit of extra spending money.

The bottom line point that another poster was trying to make, and that I tried to further explain, is that corporate taxes are ultimately paid by consumers through the prices they pay for goods (or to some extent by shareholders through the income that they forego because the government has taken that portion of the earnings that could be distributed as dividends or reinvested in the business). While the corporation files a return and writes a check for the taxes, ultimately the consumers pay those taxes.

154 posted on 09/08/2010 7:26:06 AM PDT by VRWCmember (Jesus called us to be Salt and Light, not Vinegar and Water.)
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To: VRWCmember

Correct but ultimately the government gets its share of my Profits. When I raise prices to cover this consumers go elsewhere. Evil Profits are controlled by taxes. Employment is controlled by expense and taxes. No Profits, less employees. More expenses per employee, less employees. Less employees less money to the Treasury.

Why can’t they figure this out?


155 posted on 09/08/2010 8:05:36 AM PDT by poobear ("The greatest tyrannies are always perpetrated in the name of the noblest causes." -- Thomas Paine)
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To: EQAndyBuzz

Bingo! This “offer” is for obambi’s corporatist pals. Net result if enacted- some cash laden cos. will get new equipment and fast write it off. Then they will still be looking for someone to buy their stuff. it is all a joke. permanent across the board tax roll backs and rate cuts. You cannot fund socialism when there is no capitalism and no economy left.


156 posted on 09/08/2010 8:44:24 AM PDT by John S Mosby (Sic Semper Tyrannis)
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To: Moonman62

B2B is only ONE kind of economy. It does not employ anywhere near the number of people that are needed to be employed. The 70% of employed that work for small business are left out of this equation, or are unmeasurable in the effect of this “tax break” for corporatist pals of obambi. keep in mind big pharma that got a free pass from obamacare.


157 posted on 09/08/2010 8:47:48 AM PDT by John S Mosby (Sic Semper Tyrannis)
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To: poobear

My heart goes out to you. Most commenting here have no idea how many tentacles reach into the most modest of small businesses. And they want to reach further. Imagine (you won’t have to) a firm with 20 employees and they have “card check” and join the union.


158 posted on 09/08/2010 8:52:19 AM PDT by John S Mosby (Sic Semper Tyrannis)
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To: John S Mosby

Almost all of the new jobs in this country come from small business. While large corporations create jobs, they also eliminate them with zero net effect. Small business has it tough. The big corporations don’t like them and neither do the big politicians.


159 posted on 09/08/2010 9:05:12 AM PDT by Moonman62 (Half of all Americans are above average.)
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