Obama Asks For $200 billion Tax Breaks For Business Capital Investment

[Rat in the Hat]

OK, I figured it out!

Bush tax cuts = bad

Obama tax cuts = good

Rat in the Hat! Thanks!

It's all so simple now!

Bush= bad
Obama = good

Bush tax cuts = bad
Obama tax cuts = good

Bush Ham sandwich = bad
Obama ham sandwich = good

Bush vacation = bad
Obama vacation = good

Bush Surge = bad
Obama Surge = good

Bush Iraq Victory = bad
Obama Iraq Victory = good

It's that simple!

C'mon Frank, you're better than this, and I know it.

I'm only pointing out the hypocrisy of modern political viewpoints. Currently the left is calling for letting the Bush tax breaks expire because they benefit "the rich". Now Obama's tax breaks are A-OK because they benefit the union working man.

But a fair portion of the infrastructure working man's pay will pass to the union leadership (AKA "the rich") in the form of dues.

Even you can admit there is a little bit of hypocrisy in this.

 

[asterism]

Obama Asks For $200 billion Tax Breaks For Business Capital Investment

What will/does the party of "No we can't!" say about this?

President Obama this week will call for tax incentives that would allow businesses to write off 100% of new capital investment through 2011 — moves that the White House says could save businesses $200 billion over two years. - Obama economic plan: President seeks massive tax break for business - latimes.com

The "party" will probably oppose it in some strange method of Washingtonian politics.

What do I think? I have no idea since it's not going to help me until I see it in the tax code. So what are the proposed changes to the tax code?

So far none of the "stimulus" tax breaks have made it into the tax code to benefit my small business.

 

[boedicca]

Here's why they should opposed it: Targeted tax cuts and credits are social engineering; broad tax cuts which are consistent with the freedom of each individual to decide how best to use his income and assets are better. Compromising Liberty in order to achieve a limited temporary tax cut isn't worth it. It's because of the accumulated effect of past compromises that our economy is in such a mess.

 

[NYcarbineer]

Oddly enough I'm not even surprised that professed pro-business, pro-tax cut conservatives would be falling all over themselves (quite comically, I should say) to concoct some rationale to oppose this,

ONLY because its coming from the president.

 

[boedicca]

It's is not because it's coming from him. It's because it is based on bogus class warfare ideology which is destructive to our society and economy.

 

[asterism]

Oddly enough I'm not even surprised that professed pro-business, pro-tax cut conservatives would be falling all over themselves (quite comically, I should say) to concoct some rationale to oppose this,

ONLY because its coming from the president.

Show me specifically what's going to help business. Platitudes and the actual tax code are different.

I want to see something good here, I just don't. Please correct me.

 

[Rat in the Hat]

Oddly enough I'm not even surprised that professed pro-business, pro-tax cut conservatives would be falling all over themselves (quite comically, I should say) to concoct some rationale to oppose this,

ONLY because its coming from the president.

I'm not opposed to it in any way. I don't care who it comes from. I think it's great that it will help keep people working and putting food on their families plates, and clothes on their backs.

Just don't claim that one side or the other is doing it for "the rich". Both sides do it in their own way to get the campaign donations they so need and desire. They don't care how they stomp on small business and the working class to get what they want. As long as they get their beaks wet, and pockets filled in the process.

 

[LordBrownTrout]

Tax incentives are nothing more than the govt TELLING you that you will receive a break IF you do something for them. Screw the govt. Its another way that the govt infiltrates our lives at every conceivable level. It's kinda like Uncle Sam's Plantation. Just more shell games but what can we really expect from incompetent leadership that thrives on theoretical axioms from academia world.

 

[haileydavey]

The tax break, credit or what every you choose to call it seems fine. I really do not see how it is going to help get business going. I guess the definition of (Capital Investment) is what is bothering me. I tend to wonder why you would invest money in new land, buildings or equipment if you are in hard times. I have been taught at a very early age that when you are short on funds or expect to be short on funds not to spend on unnecessary things.

I guess this will benefit those who were going to upgrade equipment or build anyway but I do not see it helping a struggling business.

As for the 50 Billion that will surely be attached to the 200 billion tax whatever, I kind of wonder what good will it do. If you were to just pay workers only you would be able to employ 2 million people at a salary of 25000 for the year. That does not include the cost of materials nor equipment. It seems like a way to falsely reduce unemployment in the short term. Why can you not take it out of the unemployment and welfare budget instead of creating more debt?

 

[CrusaderFrank]

$200B over a few years is less than peanuts while Obama and the Dems are running up almost that much in monthly deficits.

If you want to grind the American economic engine to a screeching halt put it in (P) for Progressive

 

[Mini 14]

Obama Asks For $200 billion Tax Breaks For Business Capital Investment

What will/does the party of "No we can't!" say about this?

President Obama this week will call for tax incentives that would allow businesses to write off 100% of new capital investment through 2011 — moves that the White House says could save businesses $200 billion over two years. - Obama economic plan: President seeks massive tax break for business - latimes.com

You do know how he plans to fund those cuts, don't you?

And with that in mind, I say its a huge mistake. Anyone who falls for it has been taken by "the shell game" yet again.

 

[Claudette]

I just wonder if the expiration of the Bush tax cuts will negate all of this??

After all if you make more that 250,000 your taxes will go up as of Jan 1 whether your a business or a person.

Big question mark there.

 

[editec]

On one hand we have the GOP demanding that the tax breaks for billionaires passed druing the BUSH II admin become permanent.

OTOH, they stand in the way of tax breaks for smaller businesses.

Gee...I wonder which class the GOP supports?

They don't ask where the money is coming from when they demand tax breaks for billionaires, but they want to know where a much more modest tax break given to small businesses will come from?!

Hypocracy much?

These two positions display the GOP's classism playing out in tax policies, folks.

Ther GOP is now and probably always will be the party of by and for the rich.

The Dems vacilate polticially and sometimes actually do support policies that support the working and merchant classes.

As for example, their current tax breaks for small businesses proposal that the REPS are opposing.

 

[Titanic Sailor]

The problem with taxing the rich means increased theft by government, who are also very rich. None of this money makes it to the poor, or the middle class. We need massive corporate reform, and a return to managerial ethics when it comes to taking care of their workers. The days of managers believing they are 500 times better than their mid-level employees needs to end. And then we need massive government reform. Fire them all, and start over.

 

[Meister]

On one hand we have the GOP demanding that the tax breaks for billionaires passed druing the BUSH II admin become permanent.

OTOH, they stand in the way of tax breaks for smaller businesses.

Gee...I wonder which class the GOP supports?

They don't ask where the money is coming from when they demand tax breaks for billionaires, but they want to know where a much more modest tax break given to small businesses will come from?!

Hypocracy much?

These two positions display the GOP's classism playing out in tax policies, folks.

Ther GOP is now and probably always will be the party of by and for the rich.

The Dems vacilate polticially and sometimes actually do support policies that support the working and merchant classes.

As for example, their current tax breaks for small businesses proposal that the REPS are opposing.

You do realize the government gets to pick and choose which small businesses get the benefits, and gives the guidelines on how they use the money right? The devil is in the details with this bill, and it's not as good as the dems would lead you to believe.

 

[boedicca]

I've studied this a bit more. It is a complete con job.

The tax credits mean that small businesses can accelerate write offs into 2010 from future years. Yes, they will pay less taxes this year at the current lower rates. Next year, when the tax rates increase, they will have used up the credits already, and will end up paying much higher taxes.

No Thank You.

 

[Titanic Sailor]

so you mean Obama is lying again?

guffaw!

 

[AmericanFirst]

You know what happened last time the idiots in charge claimed the stimulus would keep the unemployment rate at or under 8%? After it passed the unemployment rate went to 10%. Since we haven't spent all that money yet why do they need more of our money? Oh, wait, they are socialist idiots.

 

[AmericanFirst]

Yep typical left wing spin. Make you think it is a good thing but it really sucks, look at the health care bill, it was sold to us as being a good thing and turns out they all lied to us. Idiots