Reuters: FLASH: Obama jobs package likely to contain tax cuts...

[Jon Ace]

FLASH: Obama jobs package likely to contain tax cuts, infrastructure, help for certain sectors and for long-term unemployed-official.

http://twitter.com/#!/Reuters/status/103809764592599041


Tax cuts?

TAX CUTS?

[ChairmanAgnostic]

1. yeah, that 10 year history sure proves how well

THOSE work.

[ananda]

2. Corporate executes are "advising" him.

nt

[TransitJohn]

3. It's the solution to everything.

Economy's good? Tax cuts. Economy's bad? Tax cuts. High unemployment? Tax cuts. Full employment? Tax cuts. Y2K? Tax cuts. El Niño? Tax cuts.

It's Grover Norquist bullshit, and it's par for the course to see a national Dem politician spouting it.

[polmaven]

4. Alrighty then!!

Let the party begin! No need to wait for the President's speech. Reuters' speculation is absolutely good enough for some good Obama bashing!

PARTY TIME

:bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce: :bounce:

[Jon Ace]

5. If it doesn't contain tax cuts

then Reuters' will have hurt themselves.

[luvspeas]

8. If the OP actually did some research, you'd see that the tax cuts are payroll tax cuts...

a bit of corporate welfare in return for creating jobs. Unfortunately it seems like lately people around here don't like to read.

[n2doc]

12. payroll tax cuts = weakening Social Security

I'd rather see regular income tax cuts than that, if he has to go that route.

[theaocp]

36. +1

And it's opposite of what needs to be done: raising the cap! What a legacy...

[coalition_unwilling]

10. I saw the same language in a story from Reuters this morning (reposted

on finance.yahoo.com).

Apparently, the speech will include a package of proposals, among them tax cuts. No mention in the Reuters article of whom the tax cuts are targeted towards. If the working poor or middle class, their effect would be salutary, although not immediately stimulative in the way a government hiring program would be.

[polmaven]

40. Like I said...

No need to wait for the actual speech! Reuters speculation is even better than facts! Let the partying begin!

[BREMPRO]

6. come on.. this is a tweet not a news story..

and you don't even know what taxes they are talking about... there is good reason to lower corporate tax rates for instance..to bring back jobs to the US.. the reason places like Ireland and other foreign countries are getting thousands of American high tech corporate jobs and growth is because they have significantly lower corporate taxes..60 minutes did a very revealing piece on this recently.. we could get those jobs and investment back here if they lowered the rate to closer to the international average... sounds counterintuitive and unfair, but its the reality...

[Bluenorthwest]

11. What exactly in the Irish economy do you wish to emulate for us?

In June of this year, Ireland had 14.7% official unemployment.
http://www.irishtimes.com/newspaper/breaking/2011/0315/breaking21.html

[BREMPRO]

15. that has nothing do to with what i'm talking about.. as the article states

40% of the job losses are from construction..and public sector job cuts from austerity measures.. they had a huge housing bubble and rapid growth that just collapsed when the global economy did.. the high tech jobs still exist in large measure and are likely to grow when and if the global economy picks up because of the perverse incentives to offshore corporate jobs and profits..

[Bluenorthwest]

34. You said Ireland has lots of jobs because of their low corp tax

and we should emulate that. Ireland has 14.7% unemployment. So where are all those jobs you claim went streaming to Ireland? If that low tax is so 'job making' why does Ireland have high unemployment?\
All that 'bubble' stuff comes from the exact deregulation and under taxation you are calling for. And face it, you claimed they have the jobs, but they have high unemployment, far higher than prior to their 'tech boom'.
So their policy is good for jobs, but still they have no jobs. Good, good stuff. If only we could reach 14.7% unemployment! What glorious goals!

[BREMPRO]

42. please watch this

http://www.cbsnews.com/stories/2011/08/14/60minutes/main20091720.shtml?tag=contentMain;cbsCarousel

i just explained to you why they NOW have high unemployment... not a result of the jobs offshored there by US companies..read my post.

[polmaven]

18. One of the MA candidates

for Senate recently said the same thing - during lunch, not to reporters (only about 8 of us there) - Cut the tax rate, bring the jobs back, and get the revenue from closing the loopholes. The loophole closing will generate far more revenue than will be lost by lowering the actual tax rate, as will the new jobs that would come with it.

But like I pointed out above....a TWEET by Reuters is more than enough fact to make this a true story, isn't it? :shrug:

[MineralMan]

26. Well, a Reuter's tweet is OK, but for the real news

we'll have to wait about ten minutes until someone at FDL writes 1000 words analyzing this tweet. Then, we'll really know what the proposal might have in it, maybe, when it's finally available for study. Those FDL writers have that, you know, inside information. Sources close to the White House and that. :sarcasm:

[BREMPRO]

32. something tells me they and their lawyers would find some way around just "closing" the loophold

I'm all for it if it brings the jobs and revenue back here, but not sure just closing it would work.. incentives for creating jobs here and not offshoring likely will have to include lowering the corp tax rate closer to int'l standards.. just like here in Maine lots of people make big purchases in NH because they have no sales tax.. if we lowerered the rate in relation to NH perhaps more large purchases would be made here in the state and increase state revenues.. it all depends on where the incentives, as well as penalties are...

[Ozymanithrax]

7. Considering the makeup of the House,

nothing else is possible.

And since it isn't possible to raise revenues because the House is controlled by Fantasy Economists, why confront them with their own idiocy.

"I'm just not very good at... confrontations."
George McFly - Back to the Future

[RKP5637]

9. We have one party in DC, The Corporatist Party, and they have a 13% approval

rating in congress. Yep, more tax cuts should sink that approval down some more.

[n2doc]

13. and most will be re-elected

And all the ones that aren't will be replaced by variations on the corporatist party.

[RKP5637]

14. Yep, sadly that's the way it will go, treading water, no real progress. n/t

[MineralMan]

16. How about this for a tax cut? If your corporation hires new additional employees

who have been on unemployment for more than six months, you get a tax cut that is a percentage of those new employees' salaries. That's just one example of using a tax cut as a direct incentive. Not all tax cuts are the same, for pete's sake.

How about we wait to see what's actually in this proposal before we start bashing it, eh? Isn't that a novel concept?

[polmaven]

20. Party pooper!

[frustrated_lefty]

21. My understanding was that

this has all been addressed in recent speeches and involves tax cuts for employers who hire returning vets, payroll tax cuts for employees, and possibly payroll tax cuts for corporations? While I applaud any effort to do right by our military men and women, these ideas don't strike me as particularly effective means of creating jobs.

[MineralMan]

24. Perhaps. It appears, though, that this new proposal will contain

new stuff, according to the reports. Now, I haven't seen the proposal yet. If you have, you can share some of its contents with us, if you would. That would be great.

[frustrated_lefty]

27. Nothing new here.

The only things I've heard or read have been in speeches made within the last week. Hopefully the new proposal will contain something more substantive.

[MineralMan]

33. I'm sure we'll find out, when it's released.

Until then, I don't know what's in it. When I do, I'll have comments about specifics.

[JoePhilly]

25. Premature Outrage is our only option.

If Obama does it, says it, then IT must be evil.

[MineralMan]

29. Well, natch! Why wait until details are available? Get started

condemning it now! Get a jump on the competition! :sarcasm:

[emulatorloo]

28. Thank you for posting the facts n/t

[MineralMan]

31. Not facts. I haven't seen the proposal, either. Just a comment

on a type of "tax cut" that can effectively create new jobs. I don't know if such cuts are in this yet-to-be-released proposal. Apparently, though, some people have some inside information, since they're telling us what it will contain.

[Autumn]

37. I will go out on a limb and suggest that

none of that idea would ever be included in with any tax breaks given out. That would indeed be a novel concept.

[JVS]

17. *facepalm*

[truebrit71]

19. +1

:crazy:

[HughBeaumont]

22. I'm just hoping for loophole closures at this point.

Far be it for our DEMOCRATIC SENATE AND PRESIDENT to even make life one atom-speck less pillow comfy for the wealthy and corporations (the Job Cremators) through tax increases . . . can't we at LEAST close the loopholes?

Can't we bring these stupid, pointless and costly MIC occupations to an end?

Why is that not even being talked about?

You can't win a war on a noun.

[JoePhilly]

23. Tax cuts for who, and for what? Without that, lighting your hair on fire over it

seems a bit premature.

Oh wait, I forgot, I'm on DU, where premature outrage is a requirement.

[Fumesucker]

30. The gap between "too soon to react" and "too late to do any good"....

Has gotten to about negative six weeks now..

These trial balloons are floated for a reason, to see how people will react.

[Bluenorthwest]

35. Gee, a discussion on a discussion board is 'lighting one's hair

on fire'? A discussion is 'outrage'? The hyperbolic characterizations of others is one of the most off putting elements of DU culture. Not to mention the 'grab a phrase and work it to death' routine. How many times have you typed 'set you hair on fire' to mean 'disagree with me'? 'Hair on fire' and 'outrage' join 'Kabuki theater' as the most tired, played out bits of politislang in current over use by internet typists.

[Name removed]

38. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Tierra_y_Libertad]

39. Yay! Corporate welfare has long been a Democratic Party principle...hasn't it?

[EC]

41. Well, yeah

he's been talking about the payroll tax holiday. When it's tax cuts for us workers, I know it's shocking but they are still tax cuts.

Then there are the tax cuts for hiring vets that he has been promoting, too.