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Thread: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by nijato View Post
    Just making sure we've all seen this gem...Attachment 67115657
    I have seen that chart many times and I continue to look at the line item expenses of the Federal Govt and just cannot seem to find tax cuts listed as an expense. Further I keep waiting for any projections from this Administration or the CBO to actually be accurate especially since govt. revenue went up after the Bush tax cuts were fully implemented.

    CBO made predictions based upon assumptions given them by the Congress and the Administration which assumes that human behavior would remain the same, unemployment would remain the same, no jobs would be created after those tax cuts, and economic growth would be the same. CBO by legal requirements has to make projections based upon the assumptions given. Those assumptions if wrong make the projections wrong and in almost every case projections have been wrong so why buy those projections?

    Someone has to ask themselves why liberals are fighting so hard to repeal the Bush tax cuts and to raise taxes on the rich? The passion for this subject is questionable in that liberal leadership loves dependence for that his how they keep their jobs. I do not support raising taxes on anyone with 25+ million Americans unemployed and underemployed thus "rewarding" politicians for their poor stewardship of the economy. I prefer rewarding taxpayers for their hard work and thus allowing them to keep more of THEIR money.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Boo Radley View Post
    Kind of like that Ryan bill he knew wouldn't pass?

    As my statement was both sides play politics, and you agree, exactly what makes it hog wash? I suggest that partisans always see the other side as playing politics, and in doing so allow themselves an out for not considering what is being proposed.
    You were typing?....heh, heh....Just kidding Joe. But seriously, Do you believe that this rehash of a speech by Obama with really nothing new in it, was a heart felt attempt at arriving at a solution? Or setting up his campaign with talking points in the future when he knows the outcome of this BS?

    I say the latter.

    j-mac
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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    From the conservative publication Forbes:

    First of all, let the record show that President Obama is right and the GOP is wrong about these tax breaks. They make the economy less--not more--efficient and do nothing to reduce prices at the pump.

    Although the president hopes to eliminate eight specific tax breaks--which cost the Treasury $43.6 billion over 10 years--only three, accounting for $31.9 billion of that total, are particularly important. Conservatives have no business defending any of them.

    (snip)

    Rigging the tax code to make investments in manufacturing artificially more attractive than investments in something else is an enterprise designed to harm non-manufacturers for the benefit of ... manufacturers. Conservatives who want government to leave markets alone have no business throwing their political bodies in front of this tax break. If their political rhetoric means anything, they would see the president's bid and raise him by calling for total repeal of this tax break for everyone, not just for oil and gas companies.

    Eliminating Oil Subsidies: Two Cheers For President Obama - Forbes.com

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by j-mac View Post
    Oh, I was just trying to take it to its logical conclusion, considering the level of obvious disdain, and disgust you have for private business in the past...



    See, I think you have to define what you are calling 'subsidies'. Past discussions about oil companies and 'subsidies' have included eliminating deductions in depreciating equipment like any other business. So tell us dude, what are YOU speaking of when you talk of eliminating these so called subsidies?

    j-mac
    Good luck getting an answer to that question.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Boo Radley View Post
    From the conservative publication Forbes:

    First of all, let the record show that President Obama is right and the GOP is wrong about these tax breaks. They make the economy less--not more--efficient and do nothing to reduce prices at the pump.

    Although the president hopes to eliminate eight specific tax breaks--which cost the Treasury $43.6 billion over 10 years--only three, accounting for $31.9 billion of that total, are particularly important. Conservatives have no business defending any of them.

    (snip)

    Rigging the tax code to make investments in manufacturing artificially more attractive than investments in something else is an enterprise designed to harm non-manufacturers for the benefit of ... manufacturers. Conservatives who want government to leave markets alone have no business throwing their political bodies in front of this tax break. If their political rhetoric means anything, they would see the president's bid and raise him by calling for total repeal of this tax break for everyone, not just for oil and gas companies.

    Eliminating Oil Subsidies: Two Cheers For President Obama - Forbes.com
    Why are you supporting rewarding politicians that created the 14.6 trillion dollar debt we have right now? Seems you are more concerned about how much money goes to the govt. than how that money is spent. That is true liberal elitism

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by j-mac View Post
    You were typing?....heh, heh....Just kidding Joe. But seriously, Do you believe that this rehash of a speech by Obama with really nothing new in it, was a heart felt attempt at arriving at a solution? Or setting up his campaign with talking points in the future when he knows the outcome of this BS?

    I say the latter.

    j-mac
    It's a fools game to judge someone's heart. You could be as wrong as me and vise versa. However, I would say this, if this is campaign talk alone, he needs to be in campaign mode more often. Perhaps he should stay in that mode all during his term.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Conservative View Post
    Why are you supporting rewarding politicians that created the 14.6 trillion dollar debt we have right now? Seems you are more concerned about how much money goes to the govt. than how that money is spent. That is true liberal elitism
    Wow? Where did you get that from the Forbes article? Is this a squirrel moment?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Boo Radley View Post
    Oh goody...Dueling Forbes articles....

    A temporary tax cut, credits for home buyers, shovel-ready government spending, targeted measures for the chronically jobless, extended unemployment compensation. This is President Obama’s latest plan to nudge unemployment below its high new normal – and also precisely that of John F. Kennedy as he confronted recession on taking office in early 1961. The difference is that JFK came to realize that this policy was wrong-headed. Two years into his presidency, JFK turned on his heels to call for tighter money and marginal tax cuts. President Obama is repeating JFK’s initial policy error – though much further along in his presidency.

    Obama Is Repeating JFK's Mistakes - Forbes
    j-mac
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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by j-mac View Post
    Oh goody...Dueling Forbes articles....



    j-mac
    J, aren't they two separate issues?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama Seeks to End Tax Breaks to Pay for Jobs Plan

    Quote Originally Posted by Boo Radley View Post
    It's a fools game to judge someone's heart. You could be as wrong as me and vise versa. However, I would say this, if this is campaign talk alone, he needs to be in campaign mode more often. Perhaps he should stay in that mode all during his term.
    I judge performance, not rhetoric. What is it in the Obama performance that justifies support? Obama is a campaigner and lacks leadership skills. How hard is it to sell people who don't pay any FIT to raise the taxes on others that do?

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