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.
*******
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:
Anybody who believes this crap from obuma is not just a fool, but a damn fool.
The tax increases on the “wealthy” he has planned will probably reduce revenue, not increase it. Additionally, his parameters mean that a school teacher married to a firefighter will be included in the “wealthy” category, even though they are solidly middle class.
I’ll bet he has not backed off on his tax on small businesses disguised on taxing the “rich”. This new plan is a smoke screen for his real target: Socialism.
Let me save everyone a lot of time and sum it up in far fewer words:
Same crap as the last four years - money thrown away on donors’ “green energy” schemes, temporary incentives that don’t really boost hiring, more stimulus spending using the money allegedly “saved” from ending wars he’s previously claimed were put on a credit card and never paid for, promises of deficit reductions that will NEVER actually occur, etc. etc. etc. — only with higher taxes on the rich.
It’s no wonder Obama is so popular with the Hollywood crowd because his administration is just like a bad movie: the first part sucked, and the sequel would be even worse.
I was expecting something more like
Point Goal
1 Raise Taxes
2 Raise Taxes
3 Raise Taxes
4 Raise Taxes
5 Raise Taxes
6 Raise Taxes
7 Raise Taxes
8 Raise Taxes
9 Raise Taxes
10 Raise Taxes
11 Raise Taxes
12 Raise Taxes
13 Raise Taxes
14 Raise Taxes
15 Raise Taxes
16 Raise Taxes
17 Raise Taxes
18 Raise Taxes
19 Raise Taxes
20 Raise Taxes
21 Raise Taxes
22 Raise Taxes
23 Raise Taxes
24 Raise Taxes
25 Raise Taxes
26 Raise Taxes
27 Raise Taxes
Don’t forget immigration *reform* - to reward the illegals for their GOTV efforts.
You should see all 932 of his executive orders. I hope Romney does away with all of them.
...and sacrificing soldiers and ambassadors for political gain.
“Cut $2.50 for each $1 in revenue increases”
Logic would dictate that instead of off-setting cuts vs. taxes in their 2.5./1 ratio is to just reduce the proportion of the cuts to $1.50 and forget the matching $1 tax increases.
Reminds me of the “Wish in one hand and Sh!+ in the other” saying.
Looks like the non-wishing hand has filled up at the DNC and they are trying to empty it into our hands.
Where is the fun in that? No room to politicize the outcome. Your a bore. /sarc :)
Your version of his plan is only half right; see my corrections...
1 Raise Taxes
3 Spend More
4 Raise Taxes
5 Spend More
6 Raise Taxes
7 Spend More
8 Raise Taxes
9 Spend More
10 Raise Taxes
11 Spend More
12 Raise Taxes
13 Spend More
14 Raise Taxes
15 Spend More
16 Raise Taxes
17 Spend More
18 Spend More
19 Raise Taxes
20 Spend More
21 Raise Taxes
22 Spend More
23 Raise Taxes
24 Spend More
25 Raise Taxes
26 Spend More
27 Raise Taxes
28 Spend More
29 Raise Taxes
30 Spend More
31 Raise Taxes
32 Spend More
33 Raise Taxes
34 Spend More
35 Raise Taxes
36 Spend More
37 Raise Taxes
38 Spend More
39 Raise Taxes
40 Spend More
41 Raise Taxes
42 Spend More
43 Raise Taxes
44 Spend More
45 Raise Taxes
46 Spend More
47 Raise Taxes
48 Spend More
49 Raise Taxes
50 Spend More
51 Raise Taxes
52 Spend More
That takes care of the first year...
For the remainder of his term replace ‘Raise Taxes’ with ‘Borrow More’
For the libtards that might be trolling through, Spend More=Invest More/Redistribute More
If. Was Mitt Romney, when I take office in January, my first order of business is to never invite the Obamas back to the Wite House for anything.
I object to all of that!
The government shouldn’t be ‘investing in’ or trying to pick winners among energy options.
The government certainly shouldn’t be paying companies to be less efficient by using more employees than needed.
Taxes are already too high, the GOP shouldn’t again fall for cranking them up higher in exchange for promised budget cuts.
“Invest in domestic energy sources”
That is not a job for government. The best energy policy is NO “energy policy”, just a flat corporate tax policy that applies to all corporations with no deductions, exceptions or exemptions, or subsidies ANYWHERE, leaving all sectors of the economy, not just “energy” to invest, innovate, expand, contract, export, import, hire, fire as science, technology and markets not rigged by government inform business as to what it should do.
“Cut taxes for companies that hire”
Corporate taxes should be cut for all companies, whether they hire or not. Special tax breaks for hiring have been shown by studies done by economists to be short term as far as any effect on overall employment goes. They usually mean that hiring increases during the short term affect of the tax credit, and then fall below the hiring levels that existed before the tax credit; and most often, in the long run, total employment has not been increased by special subsidies for hiring.
“Cut $2.50 for each $1 in revenue increases”
Where was this “compromise” (and that’s what it is with what Republicans have been demanding), in 2009, 2010, 2011 or 2012 - never happened, and given Obama’s inability to compromise on the $1 trillion over ten years spending for Obamacare, or Medicare and Medicaid, the biggest sources of domestic spending, the fact is there is no $2.50 of cuts for $1 of new revenue left in the budget, unless, and only partially, the U.S. military is to stripped to the bone as it was between WWI and WWII. China, Russia, Iran and the Islamists will just love that. The fact is that Obama has never and will never “cut” $2.50 in federal spending against $1 of federal anything.
“The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services” - translation - the $1 trillion of Obamacare spending is part of “essential services”, the federal taking of all college loans is part of “essential services”, the expansiong of FoodStamps to 47 million Americans is part of “essential services”, the non-performing and totally unnecessary federal costs for federal K-12 education mandates are part of “essential services”. the expansion of SCHIP health insuraqnce subsidies to families earning at 600% of the pverty level is part of “essential services”, the total EPA budget is part of “essential services”, extravgent Medicaid AS IS is part of “essential services”, special subsidies to “green” energy are part of “essential services”, subsideis for “high speed” trains to no where are part of “essential services”, wasteful unprofitable Amtrack is part of “essential services”; you get the picture - Obama just lies, period.
Obama, the buggest liar in the WH since Bill Clinton releases his economic plan one day AFTER his last debate with Mitt Romney - and people are supposed to believe it?
Obama’s record speaks for itself. As Clint Eastwood said; he’s a hoax.
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