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Thread: Obama to introduce another business tax cut

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    Obama to introduce another business tax cut

    (CNN) -- In another move aimed at stabilizing the still-shaky economy, President Barack Obama on Wednesday will introduce a new $200 billion tax cut giving businesses across the country an incentive to buy new equipment in the short term, according to a senior administration official.

    The tax cut would allow businesses to write off 100 percent of new investments in plants and equipment made between now and the end of 2011, according to the senior administration official.

    The new tax cut will be in addition to a $100 billion permanent extension of the business tax credit for research and development, as well as $50 billion in new infrastructure spending included in a package that the president will officially unveil Wednesday during an economic speech in Cleveland, Ohio.

    The $100 billion tax credit proposal was reported by CNN on Sunday while Obama himself disclosed the infrastructure spending Monday in a fiery speech at a Labor Day event in Milwaukee, Wisconsin, in which he tried to draw a sharp contrast with Republican economic plans.

    "I don't want to give them the keys back," Obama said. "They don't know how to drive ... They're going to pop it into reverse and have special interests riding shotgun and we'd be right back in the ditch."
    It would be highly interesting if the Republicans opposed this plan.

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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Jetboogieman View Post
    It would be highly interesting if the Republicans opposed this plan.

    You do realize the difference between a "tax cut" and "tax credits" don't you? I mean I know CNN is blurring the lines here, as is Obama, but still, let's be clear a tax credit is not a tax cut.


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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by j-mac View Post
    You do realize the difference between a "tax cut" and "tax credits" don't you? I mean I know CNN is blurring the lines here, as is Obama, but still, let's be clear a tax credit is not a tax cut.


    j-mac
    FOXNews.com - Obama to Propose Massive Tax Breaks for Businesses to Invest in Growth

    President Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to write off 100 percent of their new investment in plant and equipment through 2011, a plan that White House economists say would cut business taxes by nearly $200 billion over two years.

    The proposal, to be laid out Wednesday in a speech in Cleveland, tops a raft of announcements, from a proposed expansion of the research and experimentation tax credit to $50 billion in additional spending on roads, railways and runways. But unlike those two ideas, both familiar from Obama's 2008 campaign, the investment incentive would embrace a long-held wish by conservative economists that had never won support from either Republican or Democratic administrations.
    That more to your liking J-Mac?

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    Re: Obama to introduce another business tax cut

    He's playing **** politics is what he's doing. He's bundling his 50 Billion new "Stimulus" in with these "tax cuts". Basically if the GOP fights the 50Bill they lose, and if they support him, they lose.

    Obama, master of divisive politics.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Jetboogieman View Post

    Oh, I get it, you think because the story from FOX says "tax break" that makes it better? Look, It is NOT a tax cut. Let me ask you, if a business can't afford to buy new equipment, do they get a break in taxes? NO! So this isn't what Obama says it is, what it is, is another lie in a campaign cycle.


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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by j-mac View Post
    Oh, I get it, you think because the story from FOX says "tax break" that makes it better? Look, It is NOT a tax cut. Let me ask you, if a business can't afford to buy new equipment, do they get a break in taxes? NO! So this isn't what Obama says it is, what it is, is another lie in a campaign cycle.


    j-mac
    GASP! A conservative opposing tax cuts of any kind. You a communist or something?

    Quote Originally Posted by MrVicchio View Post
    He's playing **** politics is what he's doing. He's bundling his 50 Billion new "Stimulus" in with these "tax cuts". Basically if the GOP fights the 50Bill they lose, and if they support him, they lose.

    Obama, master of divisive politics.
    Yep. Tax cuts and spending. The Reagan way...

    Shouldn't you be happy?

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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Jetboogieman View Post
    GASP! A conservative opposing tax cuts of any kind. You a communist or something?
    Wow! how sad democrat politics has become. You think because your leaders lie that everyone should be stupid enough to just follow along like lemmings and say what a wonderful thing eh? Maybe that's good enough for you, but not for me sir.

    Look, if he want's to give credits to business for updating their equipment? I say good, do that, but give a genuine tax cut, or extend the Bush tax rates until we get going again, and don't lie to me and tell me that a credit is a cut, it is not.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by j-mac View Post
    Wow! how sad democrat politics has become. You think because your leaders lie that everyone should be stupid enough to just follow along like lemmings and say what a wonderful thing eh? Maybe that's good enough for you, but not for me sir.
    I'm not a democrat. He told you what he's gonna do. Who's lying?

    Look, if he want's to give credits to business for updating their equipment? I say good, do that, but give a genuine tax cut, or extend the Bush tax rates until we get going again, and don't lie to me and tell me that a credit is a cut, it is not.

    j-mac
    You're opposing this for the sake of it. Do you actually UNDERSTAND what it means.

    "proposed expansion of the research and experimentation tax credit to $50 billion"

    The Credit comes in if a company invests in R&D...

    Basically what he's saying is, if you buy new equipment, we won't tax you on it... which is a tax cut.

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    Re: Obama to introduce another business tax cut

    1. now that november is nearing at a breakneck, the presidential putz is suddenly racing to his right---what does that tell YOU?

    2. Obama plans big economic push: Too little, too late? - CNN.com

    party on!

    seeya in exactly 8 weeks---in pennsylvania, in michigan, in delaware, in wisconsin, california, colorado, arizona, washington, in salem, oregon...

    it's gonna be FUN!

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    Re: Obama to introduce another business tax cut

    Quote Originally Posted by Jetboogieman View Post
    I'm not a democrat.
    Yeah, uh huh....K.

    He told you what he's gonna do.
    No, he said what he want's to do, and was deceptive in the language in laying it out.

    Who's lying?
    Barrack Hussein Obama

    You're opposing this for the sake of it.
    No, I think that in this time we have to do anything we can to get out of this depression Obama has created. Just don't lie about what it is.

    Do you actually UNDERSTAND what it means.
    Do you?

    "proposed expansion of the research and experimentation tax credit to $50 billion"
    See the bolded words there, now define them for me would you?

    The Credit comes in if a company invests in R&D...
    Yep, and the companies that can't get the capital to invest in the R&D? I guess tough luck for them eh?

    Basically what he's saying is, if you buy new equipment, we won't tax you on it... which is a tax cut.
    Clearly you don't know the difference between a tax cut, and a tax credit.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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