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  • #1

    Obama pushing for tax breaks for businesses.....

    In a stunning move it looks like Obama is offering a pretty substantial tax break. In fact, his proposal would allow a company to deduct (or depreciate is probably the best term) the cost of a capital investment in the year such investment is made. It seems as though no limits are in the current proposal, which is some cases is stunning given that this proposal is very much targeted to help businesses and even large corporations.

    http://online.wsj.com/article/SB1000...DDLETopStories

    Of course the GOP, who has been complaining about increased taxes and other similar items since Obama got into office, is fighting against the proposal. I understand he's not reducing the tax rate and is simply accelerating the deduction (which would have been spread over 3 to 20 years under current MACRS tables) but in a business and TVM sense this is a win for businesses.

    I'm not a big fan of Obama's fiscal agenda and would like the federal government to flatline spending and reduce taxes but it seems in this case Obama is doing exactly one of those things. It may be that he is trying to trap the GOP in some political game but it would be nice for once to hear the GOP praise what is being proposed. But then again we are close to November and they have to keep their momentum going as long as they can.
    "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf
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  • #2
    Originally posted by Eddie Jones View Post
    In a stunning move it looks like Obama is offering a pretty substantial tax break. In fact, his proposal would allow a company to deduct (or depreciate is probably the best term) the cost of a capital investment in the year such investment is made. It seems as though no limits are in the current proposal, which is some cases is stunning given that this proposal is very much targeted to help businesses and even large corporations.

    http://online.wsj.com/article/SB1000...DDLETopStories

    Of course the GOP, who has been complaining about increased taxes and other similar items since Obama got into office, is fighting against the proposal. I understand he's not reducing the tax rate and is simply accelerating the deduction (which would have been spread over 3 to 20 years under current MACRS tables) but in a business and TVM sense this is a win for businesses.

    I'm not a big fan of Obama's fiscal agenda and would like the federal government to flatline spending and reduce taxes but it seems in this case Obama is doing exactly one of those things. It may be that he is trying to trap the GOP in some political game but it would be nice for once to hear the GOP praise what is being proposed. But then again we are close to November and they have to keep their momentum going as long as they can.
    What are the Republicans' arguments against? IMO, this type of initiative would be far more effective at improving the employment situation than most of what President Obama's administration has proposed - and certainly more than any stimulus that includes any influence from Congress. I am not sure if the consumer spending, or lack thereof, would justify for the companies to invest the type of capital investment Obama is imagining, but the status quo has them just sitting on record cash assets.
    Do Your Damnedest In An Ostentatious Manner All The Time!
    -General George S. Patton

    I'm choosing to mostly ignore your fatuity here and instead overwhelm you with so much data that you'll maybe, just maybe, realize that you have reams to read on this subject before you can contribute meaningfully to any conversation on this topic.
    -DOCTOR Wuap

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    • #3
      Obama doesn't need any GOP votes to pass any of his agenda. He just wants to blame the Republicans because he and the Dems struggle to do anything because he can't afford to piss off even more of his base.

      He also knows the media will run with it and blame the GOP as well.
      "Socialism is a philosophy of failure, the creed of ignorance and the gospel of envy; its inherent virtue is the equal sharing of misery." - Winston Churchill


      "I only know what I hear on the news." - Dear Leader

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      • #4
        Also...

        this type of proposal is a win-win for Republicans IMO. I see it as no risk for them. If they get on board and it works, they can take some of the credit and brand it as a type of recession ending measure that is consistent with their supposedly conservative core values of incenting private business to lead out of rough economic times, but if it fails then they can continue to beat their drums about the bloated government spending, the uncertainity created by government spending and the administration's social agenda and incentive eroding aspect of increasing personal income taxes on the higher earners.

        Further, the beauty of a measure like this, unlike the stimulus, is that if nobody wants to use it because after running the numbers private companies conclude that the long term demand won't justify the increased capital investment then it costs nobody nothing.

        From what I read the GOP is not opposed to this issue but they don't want to let it cloud the voters' minds concerning the poor overall business atmosphere that President Obama's administration has seemed to add to, yet they seem to leave themself room to get on board with this idea if it ends up being what it is proposed to be.
        Do Your Damnedest In An Ostentatious Manner All The Time!
        -General George S. Patton

        I'm choosing to mostly ignore your fatuity here and instead overwhelm you with so much data that you'll maybe, just maybe, realize that you have reams to read on this subject before you can contribute meaningfully to any conversation on this topic.
        -DOCTOR Wuap

        Comment

        • #5
          Originally posted by Goatnapper'96 View Post
          this type of proposal is a win-win for Republicans IMO. I see it as no risk for them. If they get on board and it works, they can take some of the credit and brand it as a type of recession ending measure that is consistent with their supposedly conservative core values of incenting private business to lead out of rough economic times, but if it fails then they can continue to beat their drums about the bloated government spending, the uncertainity created by government spending and the administration's social agenda and incentive eroding aspect of increasing personal income taxes on the higher earners.

          Further, the beauty of a measure like this, unlike the stimulus, is that if nobody wants to use it because after running the numbers private companies conclude that the long term demand won't justify the increased capital investment then it costs nobody nothing.

          From what I read the GOP is not opposed to this issue but they don't want to let it cloud the voters' minds concerning the poor overall business atmosphere that President Obama's administration has seemed to add to, yet they seem to leave themself room to get on board with this idea if it ends up being what it is proposed to be.
          I think you are wise. The GOP should jump on board this bandwagon.
          Give 'em Hell, Cougars!!!

          For all this His anger is not turned away, but His hand is stretched out still.

          Not long ago an obituary appeared in the Salt Lake Tribune that said the recently departed had "died doing what he enjoyed most—watching BYU lose."

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          • #6
            Originally posted by Goatnapper'96 View Post
            What are the Republicans' arguments against? IMO, this type of initiative would be far more effective at improving the employment situation than most of what President Obama's administration has proposed - and certainly more than any stimulus that includes any influence from Congress. I am not sure if the consumer spending, or lack thereof, would justify for the companies to invest the type of capital investment Obama is imagining, but the status quo has them just sitting on record cash assets.
            From the article:

            "The White House is missing the big picture. These aren't necessarily bad proposals, but they don't address the two big problems that are hurting our economy—excessive government spending, and the uncertainty that Washington Democrats' policies, especially their massive tax hike, are creating for small businesses," said House Minority Leader John A. Boehner (R, Ohio).
            It sounds like the GOP wants the recession and high unemployment to last long enough to help them in November. I agree with you though that the GOP should jump on this right now and claim it was their original idea. Then when it gets the economy pumping again (believe me, many companies have cash and would consider investing if they had a favorable tax situation like this) the GOP can take credit for actually voting for something that helped.

            Instead, it appears the GOP will stick with their filibuster and ride out the economic woes to a semi-substantial victory in November and then we'll spend the next two years in gridlock with a split congress and a president who couldn't care less about bipartisianship.
            "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

            Comment

            • #7
              Originally posted by Eddie Jones View Post
              From the article:



              It sounds like the GOP wants the recession and high unemployment to last long enough to help them in November. I agree with you though that the GOP should jump on this right now and claim it was their original idea. Then when it gets the economy pumping again (believe me, many companies have cash and would consider investing if they had a favorable tax situation like this) the GOP can take credit for actually voting for something that helped.

              Instead, it appears the GOP will stick with their filibuster and ride out the economic woes to a semi-substantial victory in November and then we'll spend the next two years in gridlock with a split congress and a president who couldn't care less about bipartisianship.
              This will do nothing to change what is going to happen in November, that is why I don't understand why the GOP would stand against it. My prediction is that they will get on board with the idea and declare it their victory.

              My opinion is that this measure is the first step of President Obama becoming a born again centrist. I would not be surprised by many more of this type as Obama becomes consumed with his own re-election.
              Do Your Damnedest In An Ostentatious Manner All The Time!
              -General George S. Patton

              I'm choosing to mostly ignore your fatuity here and instead overwhelm you with so much data that you'll maybe, just maybe, realize that you have reams to read on this subject before you can contribute meaningfully to any conversation on this topic.
              -DOCTOR Wuap

              Comment

              • #8
                Originally posted by Eddie Jones View Post
                From the article:



                It sounds like the GOP wants the recession and high unemployment to last long enough to help them in November. I agree with you though that the GOP should jump on this right now and claim it was their original idea. Then when it gets the economy pumping again (believe me, many companies have cash and would consider investing if they had a favorable tax situation like this) the GOP can take credit for actually voting for something that helped.

                Instead, it appears the GOP will stick with their filibuster and ride out the economic woes to a semi-substantial victory in November and then we'll spend the next two years in gridlock with a split congress and a president who couldn't care less about bipartisianship.
                How can the GOP filibuster anything when the Dems have a majority in the House and Senate?

                I agree that the GOP should jump on this and take credit for it, but if Obama wants this done, he has the numbers to do it.
                "Socialism is a philosophy of failure, the creed of ignorance and the gospel of envy; its inherent virtue is the equal sharing of misery." - Winston Churchill


                "I only know what I hear on the news." - Dear Leader

                Comment

                • #9
                  Originally posted by il Padrino Ute View Post
                  How can the GOP filibuster anything when the Dems have a majority in the House and Senate?

                  I agree that the GOP should jump on this and take credit for it, but if Obama wants this done, he has the numbers to do it.
                  They need at least one republican to overcome a filibuster in the Senate.
                  Do Your Damnedest In An Ostentatious Manner All The Time!
                  -General George S. Patton

                  I'm choosing to mostly ignore your fatuity here and instead overwhelm you with so much data that you'll maybe, just maybe, realize that you have reams to read on this subject before you can contribute meaningfully to any conversation on this topic.
                  -DOCTOR Wuap

                  Comment

                  • #10
                    I don't trust politicians period. They either are most concerned about getting reelected because of their own need for power or because they believe in their point of view so much that the ends justify the means.

                    In other words, don't do something good for the Country now because it might help the other party look good and that would be bad for the country long term.

                    I don't know why it is. I think most of the country is center left to center right. Mainly center to center right. However, the extremists seem to dominate the airways.

                    Comment

                    • #11
                      I've heard different folks from the GOP make this exact proposal. IIRC Karl Rove and Mitt Romney are two of them.
                      Part of it is based on academic grounds. Among major conferences, the Pac-10 is the best academically, largely because of Stanford, Cal and UCLA. “Colorado is on a par with Oregon,” he said. “Utah isn’t even in the picture.”

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                      • #12
                        Originally posted by Color Me Badd Fan View Post
                        I've heard different folks from the GOP make this exact proposal. IIRC Karl Rove and Mitt Romney are two of them.
                        In the 2008 election, Romney's economic proposals - of which this was a major part - is what got me on his bandwagon. They seemed like real solutions, rather than political pandering or payback.

                        Comment

                        • #13
                          President Barack Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to more quickly write off 100% of their new investment in plants and equipment through 2011.
                          Nice. Uncle Ted may be buying lots of new stuff for his small business.
                          "If there is one thing I am, it's always right." -Ted Nugent.
                          "I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
                          "Yet I still see wisdom in that which Uncle Ted posts." -creek.
                          GIVE 'EM HELL, BRIGHAM!

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                          • #14
                            Whitehouse fact sheet is now available....

                            http://www.whitehouse.gov/sites/defa...ing_9-8-10.pdf
                            "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

                            Comment

                            • #15
                              Originally posted by Eddie Jones View Post
                              Whitehouse fact sheet is now available....

                              http://www.whitehouse.gov/sites/defa...ing_9-8-10.pdf
                              My understanding is that real property is excluded from this. I was really excited until I was dumb enough to call my auditor. He ruined yet another day of mine.
                              Do Your Damnedest In An Ostentatious Manner All The Time!
                              -General George S. Patton

                              I'm choosing to mostly ignore your fatuity here and instead overwhelm you with so much data that you'll maybe, just maybe, realize that you have reams to read on this subject before you can contribute meaningfully to any conversation on this topic.
                              -DOCTOR Wuap

                              Comment

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