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Adsos Letter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:18 PM
Original message
Obama proposes tax cuts for small businesses
Source: Reuters
By Alister Bull and Patricia Zengerle

WASHINGTON (Reuters) – President Barack Obama proposed on Tuesday small business tax cuts, fresh infrastructure spending and energy efficiency rebates to boost jobs, but there were few details on the scale or cost of the measures.

Battling public dismay over double-digit U.S. unemployment, Obama also called for an extension of unemployment and health insurance benefits for the more than 15 million out-of-work Americans, and stressed that boosting jobs was the best way to tackle the deficit.

"There are those who claim we have to choose between paying down our deficits on the one hand, and investing in job creation and economic growth on the other. But this is a false choice," Obama said in a speech.

A senior administration official said around $50 billion of fresh money would be earmarked for spending on roads, bridges and other transportation infrastructure, and the money would be spent over the course of a year.

LINK: http://news.yahoo.com/s/nm/20091208/pl_nm/us_obama_economy
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Kdillard Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:29 PM
Response to Original message
1. Good speech and another article discussing how he nailed Republicans
Edited on Tue Dec-08-09 12:32 PM by Kdillard
http://news.yahoo.com/s/ap/20091208/ap_on_bi_ge/us_obama_jobs


"He said that soon after taking office, he and congressional Democrats took a series of difficult steps to try to stabilize the financial system and pull the economy out of a deep recession. And we were forced to take those steps largely without the help of an opposition party"
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Rosa Luxemburg Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:32 PM
Response to Original message
2. The GOP is losing ground
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:45 PM
Response to Reply #2
7. Only because the Democrats are taking their traditional territory
Seriously...tax cuts for businesses of any size? Thats not what the focus should be right now.
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Rosa Luxemburg Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:53 PM
Response to Reply #7
13. it all helps
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:56 PM
Response to Reply #13
14. Ive seen no substantial evidence that trickling down wealth "helps"
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Rosa Luxemburg Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 08:31 PM
Response to Reply #14
24. Any help small businesses can get would be appreciated!
I have many friends with small busineese like computer consulting, graphic designers, restaurant owners who are all feeling the pinch.
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Cha Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 06:59 PM
Response to Reply #13
23. Of course, it does..and this isn't the only
help that's being given.

Tons of small businesses across America and they all hire local people who need jobs right now.
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oviedodem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:37 PM
Response to Reply #7
18. There are limited immediate options that can be enacted to spur
job creation. I agree with the basic premise that tax cuts alone do not solve the problem, but this is targeted and short term. What we really need is a new industry, and the only one that is plausible is to go "green". In addition we need to DESTROY ALL trade laws that have gutted the American workforce.
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:53 PM
Response to Reply #18
20. And this isn't one of them
Helping the rich accumulate more wealth via bigger dividend checks wont make those businesses perform any better or create any jobs.

Unfortunately, Obama will not touch the trade laws in the benefit of the American people.
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cornermouse Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:37 PM
Response to Original message
3. And his proposal for John and Jane Q. Public would be??????
I haven't seen one so far.
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ShortnFiery Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:46 PM
Response to Reply #3
9. Relief from Capital Gains taxes ... Oh Boy!
:crazy: :eyes:
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pscot Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:00 PM
Response to Reply #9
15. Mom. What's a capital gain?
Shut up, she explained.
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oviedodem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:38 PM
Response to Reply #3
19. Ummm... it would be employment in this scenario. What Obama has truly screwed up
is the foreclosure plan.
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Cha Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 06:57 PM
Response to Reply #3
22. A lot of people I know have small businesses and they
hire people to work for them.

This is a job stimulus for more than just the owners.



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thereismore Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:37 PM
Response to Original message
4. Let's see who will be the first Republican against it... nt
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Deep13 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:39 PM
Response to Original message
5. What many small businesses really need is loan relief.
Equipment loans cost just as much, but there's half as much revenue coming in.
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Better Today Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:45 PM
Response to Reply #5
8. Bingo, and whether the loan is for equipment or say investment in personnel
or marketing, loan relief or loan guarantees would be the thing.
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Kdillard Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:01 PM
Response to Reply #5
16. Correct me if I am wrong but didn't his speech say he wanted to eliminate fees on
Edited on Tue Dec-08-09 01:14 PM by Kdillard
Loans to small businesses and federal guarantees of those loans? Isn't that what you are talking about?
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Deep13 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 01:08 PM
Response to Reply #16
17. No, I mean companies like my wife's that have bank loans...
...for large equipment items bought a few years ago. They laid off half of their staff because if the bank forclosed, the business would be finished.
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Better Today Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:44 PM
Response to Original message
6. Yeah, right, we have no profits (or business for that matter) so what taxes
is he going to cut? So many of us small biz owners are quite literally in complete stagnation meaning no profits and therefore no taxes. I don't see this tax cut idea helping much at all.
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:48 PM
Response to Reply #6
10. Spot on!
Most people don't understand that only profits are taxed, and therefore, struggling small businesses in the red will NOT be helped by this. In fact NO business will be helped by this. Who will? Shareholders.

Shareholders get their cut of the profits after they've been taxed. Cutting business taxes doesn't help businesses retain more money for investment (their investment money is untaxed). It helps shareholders get bigger dividends.

This is a weak angle to focus on for job recovery.
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ShortnFiery Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:52 PM
Response to Reply #10
11. Well put. I wish I could type that "I'm surprised" by this act but it's only more for larger ...
more stable corporations ... and SCRAPS to the struggling TRUE Small Business Owners.

"This is a weak angle to focus on for job recovery." :thumbsup:
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 12:52 PM
Response to Original message
12. Tax and Spend Democrats - thats all they do is tax and spend
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Clio the Leo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-08-09 06:51 PM
Response to Original message
21. Missed the speech. Cant wait to hear it. NT
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