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Thread: Republicans block Obama jobs bill

  1. #231
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Here is why small business is "glowing" about the American jobs act:

    Count Them: 5 Tax Benefits of The American Jobs Act

    "If you’re a small business owner, the impact of the American Jobs Act may be significant. Here’s an outline of some of the initiatives you should be tracking over the coming months:

    1. Payroll tax cuts: The plan cuts the employer share of payroll taxes to 3.1 percent on the first $5 million in wages. According to the White House, this tax cut would benefit the 98 percent of businesses with wages below $5 million. By halving the payroll taxes on the first $5 million, the President hopes to stimulate job growth among smaller companies.
    How many arguements have we heard about the evils of tax cuts? Except when they are the idea of Obama it seems.

    2. Payroll tax holiday: The plan would eliminate the entire 6.2 percent payroll tax on any increase in payroll (for added workers or increased wages) up to $50 million above the prior year.
    Again.

    3. Extend 100 percent expensing into 2012: Companies can fully depreciate certain purchases in the first year (instead of having to amortize these purchases over as long as 20 years). The goal here is to encourage new investment.
    Again.

    4. Tax credits for hiring the long-term unemployed: The plan proposes a $4,000 tax credit for any business that hires an individual who has been unemployed for at least 6 months. And considering that a recent review of job vacancy postings on sites like Monster.com by the New York Times revealed that employers have a strong preference for people who are still employed or just recently laid off, the long-term unemployed need all the help they can get.
    Again.

    5. “Returning Heroes” tax credit for hiring veterans: If a company hires a veteran, the tax credit increases to as much as $5,600, and reaches $9,600 if the veteran became disabled in the course of serving. Unemployment rates among veterans are truly shocking (13.3 percent), so most would agree with the idea of encouraging the private sector to hire or train our veterans.
    Again.

    It is nice seeing the benefits of tax cuts being promoted by all though. How long do you think this will last? Until November 2012?

  2. #232
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Here's another opinion on the President's Jobs plan:


    The American Small Business Chamber™ of Commerce Calls for Passage of The American Jobs Act of 2011


    [I]"The American Small Business Chamber of Commerce™ (The American Small Business Chamber of Commerce) calls for the immediate passage of The American Jobs Act of 2011 and continued actions to build a business climate in which America's small businesses can thrive and fuel job creation.
    Do you have idea what this organiztion is and where it came from? It just popped up in September and it has nothing to do with the real Chamber of Commerce.
    I love the smell of burning moonbat in the morning.

  3. #233
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by conservativeguy View Post
    Do you have idea what this organiztion is and where it came from? It just popped up in September and it has nothing to do with the real Chamber of Commerce.
    It's right there in Catawba's link.

    The ASBCC is an outgrowth of the National Association of Small Business Contractors (NASBC). In September 2011, the NASBC made the leap to broaden the work of our 501(c)(6) trade association and renamed our organization as The American Small Business Chamber of Commerce. Founded in 2004; our headquarters offices are located in Washington, D.C. Contact the ASBCC at 888-861-9290.
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

  4. #234
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    Re: Republicans block Obama jobs bill

    Yale economists agree that large-scale government spending is needed to avoid a larger scale, Japan-style lost decade. Most seem to favor infrastructure spending such as that proposed by President Obama:

    U.S. Economy Needs More Federal Spending, Yale Economists Say
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

  5. #235
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by 1Perry View Post
    How many arguements have we heard about the evils of tax cuts? Except when they are the idea of Obama it seems.
    "Tax cuts for wealthy, such as those in the Bush tax cuts, are the single “least effective way to spur the economy and reduce unemployment,” according to the non-partisan Congressional Budget Office, because wealthy Americans were more likely to save their money than spend it.

    Conversely, payroll tax cuts are one of the most efficient ways to stimulate economic growth, because low- and middle-income earners are more likely to spend their extra cash right away. But this analysis and similar ones from Moody’s and other experts has not disuaded Republicans from their myopic focus on tax cuts for the the wealthy only."

    Republicans To Oppose Tax Cut For Working People | ThinkProgress
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  6. #236
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    "Tax cuts for wealthy, such as those in the Bush tax cuts, are the single “least effective way to spur the economy and reduce unemployment,” according to the non-partisan Congressional Budget Office, because wealthy Americans were more likely to save their money than spend it.

    Conversely, payroll tax cuts are one of the most efficient ways to stimulate economic growth, because low- and middle-income earners are more likely to spend their extra cash right away. But this analysis and similar ones from Moody’s and other experts has not disuaded Republicans from their myopic focus on tax cuts for the the wealthy only."

    Republicans To Oppose Tax Cut For Working People | ThinkProgress
    Payroll taxes don't cut the taxes of the wealthy?

  7. #237
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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by AdamT View Post
    Yale economists agree that large-scale government spending is needed to avoid a larger scale, Japan-style lost decade. Most seem to favor infrastructure spending such as that proposed by President Obama:

    U.S. Economy Needs More Federal Spending, Yale Economists Say
    Its odd that you are saying this since Obama's stimulus bills have been overwhelmingly focusing on short-run fixes, such as tax cuts and welfare benefits rather than long term investment.
    Last edited by Antiderivative; 10-15-11 at 04:46 PM.

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by 1Perry View Post
    Payroll taxes don't cut the taxes of the wealthy?
    Most of the super wealthy do not receive the majority of their income through payroll.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Most of the super wealthy do not receive the majority of their income through payroll.
    But it does cut the taxes the wealthy pay, such as CEO's getting $$$$$ as opposed to stock options, right?

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    Re: Republicans block Obama jobs bill

    Quote Originally Posted by Catawba View Post
    Most of the super wealthy do not receive the majority of their income through payroll.
    In 2007, only 6.53% of their income came from wages.
    http://www.irs.gov/pub/irs-soi/07intop400.pdf

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