Posted on 10/24/2012 3:04:29 PM PDT by SeekAndFind
After failing to deliver a line by line economic plan, the Obama campaign stepped up to the plate this week and delivered a glossy memo with 27 points on how he would use a second term in office.
It's called The New Economic Patriotism: A Plan For Jobs & Middle-Class Security and millions of copies have been printed and shipped off to swing states.
The plan is broken up into seven different parts, focusing on topics that include manufacturing, energy, small businesses, education, taxes and the deficit, healthcare, and Medicare and Social Security. While a lot of crucial details are still missing, it's a start to understanding what another four years under Obama would like.
For voters who can't get their hands on a copy, we've broken down the points here.
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1) Lower the corporate tax rate
In the plan, Obama touts the growth in the manufacturing sector over the last four years, and says that his new goal is to add 1 million new manufacturing jobs by 2016. The first point of his five point plan on manufacturing is to lower the corporate tax rate — which now stands at a maximum of 35% — by a quarter for domestic manufacturers:
[Reform] the corporate tax code to bring down tax rates – cutting tax rates on domestic manufacturers by nearly a quarter – while closing tax preferences and loopholes to pay for it.
This would bring the tax rate for manufacturers down to 26.25%
2) End deductions for outsourcing companies
Right now companies can claim a deduction on their taxes for a portion of the cost of exporting operations abroad, as the move offshore is considered a business expense. Obama wants to end that deduction:
(Excerpt) Read more at businessinsider.com ...
ANYBODY IN FR OBJECT TO THIS:
Invest in domestic energy sources
The second point of his energy plan emphasizes developing alternative energy sources, “including wind, solar, clean coal, nuclear, and biofuels. All while increasing our energy efficiency.”
OR THIS:
Cut taxes for companies that hire
With his small business plan, Obama is appealing more to a class of entrepreneurs as a whole rather than any specific subset of the economy, so it makes sense that the plan is more a strategy that a point by point goal set.
The first is to create a tax cut for businesses that hire or increase wages, and to allow businesses to continue writing off business expenses.
OR THIS:
Cut $2.50 for each $1 in revenue increases
This portion details the ratio of spending cuts to revenue increases in the Obama tax plan.
The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services to the point that the economy is harmed.
Here’s the policy:
President Obama’s plan reduces the deficit by more than $4 trillion over the next decade, including $1 trillion in spending cuts he signed into law last summer, and cutting $2.50 in spending for every $1 in additional revenue from the wealthiest families and closing corporate loopholes.
This is as Marxist a slogan as 'Forward'
COMPARE OBAMA’s PLAN TO ROMNEY’s PLAN WHICH IS SUMMARIZED HERE:
http://www.businessinsider.com/romney-debate-economic-plan-2012-10?op=1
If anyone wants to know what a second term for Obama would look like, all they need to do is look at the results of the last four years. Complete disaster and epic fail!!
COMPARE OBAMA’s PLAN TO ROMNEY’s PLAN WHICH IS SUMMARIZED HERE:
http://www.businessinsider.com/romney-debate-economic-plan-2012-10?op=1
Nice obama used the same initials, NEP.
NEP... New Economic Patriotism
Reminds me of Lenins “NEP”.......
NEP... New Economic Patriotism
Reminds me of Lenins “NEP”.......
“ANYBODY IN FR OBJECT TO THIS:
Invest in domestic energy sources”
Ummm...yep I object to Solyndra et al 2.0.
“Cut taxes for companies that hire”
This is already in his ‘jobs plan’, and most business organizations agree that a one time payday is not a good reason to make a hiring decision.
“Cut $2.50 for each $1 in revenue increases”
The last time the GOP agreed to such a deal, it was $4 to $1...one side kept their side of the bargain, the other didn’t. Its Lucy and the football stuff.
Why do we have to “pay for a tax cut?” That phrase drives me nuts. Simplify the tax code and lower the rates where everyone willingly pays and has no incentive to “game the system” or avoid paying taxes. You will have more than enough revenue to cover everything the government should be doing, and a vibrant and growing economy that will begin moving people from the handout category to an employed taxpayer.
This monkeying with our ridiculous tax code, playing games to reward certain groups and donors, and making compliance virtually impossible for the average joe, needs to stop.
..because it is THEIR money, not yours...
(what were you thinking?)
Ah, NEPotism.
Lotsa new Kenyans in the workforce, then?
He’s a LIAR....I don’t believe ANYTHING he says.
LOL
too little , too late, too full of lies, too full of things NO ONE (even his supporters) believes he will ever do, and...
4 years AFTER HE WAS ALREADY GIVEN A CHANCE TO DO ANY OF THESE THINGS
>>Cut $2.50 for each $1 in revenue increases<<
$2.50 over 10 years is NOT $1 times 10 years. That’s the gotcha; plus the spending cuts never materialize while taxes go up. Base line budgeting has to be outlawed. Departments need to be eliminated. Property confiscated by the feds needs to be returned to the states.
They really are a bunch of commies, they even have an NEP
From the “O” regime?? More than likely the same BULLSHIT and LIES he has been trying to peddle to the American People for the last four years!!! FORGETABOUTIT!!!
This portion details the ratio of spending cuts to revenue increases in the Obama tax plan.
The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services to the point that the economy is harmed.
No - the idea is to get more of our hard earned money into the DC corruption machine. The cuts would never happen but spending would increase accordingly. Using that math - why not just cut $1.00 out of every $2.50 raised thru the current tax collection system without raising taxes?
That isn’t even a reduction in the rate of growth
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