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Obama pleads with Republicans on small business bill

The Dane

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EDISON, New Jersey — US President Barack Obama pleaded with his Republicans foes Wednesday not to block his bid to aid small businesses, an economic sector he called "as American as apple pie."

Obama met local business owners at the tiny Tastee Sub sandwich shop in New Jersey, which he said was an example of the small businesses and startups that the country needs to start creating new jobs to cut 9.5 percent unemployment.

"It is clear we need to do more," Obama said.

"That's why I am urging the Senate to approve a jobs bill that will do two big things for small business, cut taxes and make more loans available."
AFP: Obama pleads with Republicans on small business bill

Republicans strategy is to stop the country from recovering, and blaming it on Obama.
 

Vader

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I haven't read the bill yet and I'm not sure you have either, so let's hold our horses before we start the blame game.
The fact is ... he is correct, HG.

Republicans are nothing more than big business mouthpieces. Republicans have ALWAYS had issues with honesty (so have Democrats) ....

It's time for laws that force big businesses to pay a hefty price for interfearing in politics.
 

Harry Guerrilla

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The fact is ... he is correct, HG.

Republicans are nothing more than big business mouthpieces. Republicans have ALWAYS had issues with honesty (so have Democrats) ....

It's time for laws that force big businesses to pay a hefty price for interfearing in politics.
Well just from my initial look at this bill, it's entirely supply side.
What good is this bill, if there is no demand from consumers?
 
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Vader

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Well just from my initial look at this bill, it's entirely supply side.
What good is this bill, if there is no demand from consumers?
It creates jobs and lowers unemployment. This is important.... whether Republicans like it or not.
 

Harry Guerrilla

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It creates jobs and lowers unemployment. This is important.... whether Republicans like it or not.
That's what they hope it will do.

Businesses don't grow a whole lot, if demand is down.
The fact of the matter is that the whole economy is at a stand still because of uncertainty in relation to deficits.

I also see that the tax breaks are only good for one year and have to be reauthorized annually.
Pretty wimpy, if you ask me.
 

VanceMack

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:shock:

"Obama's plan would offer small banks capital and incentives to lend to small businesses, to unlock frozen credit for the small firms.

It would also create tax incentives for new investments by small businesses which want to expand -- for instance, offering quick tax reductions for outlays on new machinery or equipment.

The plan would also wipe out capital gains taxes on key investments in small businesses, in a bid to encourage the flow of capital to such firms."

REDUCING TAXES stimulates economic growth????

ummmmm....

:shock:
 

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That's what they hope it will do.

Businesses don't grow a whole lot, if demand is down.
The fact of the matter is that the whole economy is at a stand still because of uncertainty in relation to deficits.

I also see that the tax breaks are only good for one year and have to be reauthorized annually.
Pretty wimpy, if you ask me.
Well government spending increases demand in the economy. Things like unemployment benefits, you know which was shot down.

Also, its pretty smart to have them be reauthorized annually, keep them as long as were in a recession, and once we come out of this economic downturn don't reauthorize them. Cut down the deficit some.
 

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Well government spending increases demand in the economy. Things like unemployment benefits, you know which was shot down.
I agree with that but there is a limit to the success quantitative easing.

Also, its pretty smart to have them be reauthorized annually, keep them as long as were in a recession, and once we come out of this economic downturn don't reauthorize them. Cut down the deficit some.
I think we're putting ourselves into a yo-yo tax situation.
One year it's up, the next it's down.
Creating a lot of uncertainty and hesitation.

It's time to streamline it, so there is a (somewhat) foreseeable future.
 

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REDUCING TAXES stimulates economic growth????

ummmmm....
First thing I noticed too. It must have been a mistake. Democrats keep telling us that tax cuts do not create any jobs or help improve the economy.
 

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VanceMack

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First thing I noticed too. It must have been a mistake. Democrats keep telling us that tax cuts do not create any jobs or help improve the economy.
I will bet money that Obamas begging aside, someone will stuff this very basic concept with a bunch of spending riders...that will cause the other side to reject the legislation...and then they will say "they are against small business!" I HOPE Im wrong. If The One is honest and serious they should make this be very simple, straightforward, and should prohibit all pther amendments or riders. Lets see how far that goes...
 

justabubba

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so, some is worse than nothing? good lord.
i am not advocating abandoning the good in favor of an unattainable perfect

i am suggesting that the administration is taking half measures, giving us more of the same
 

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so, some is worse than nothing? good lord.
I didnt see that in his response or the article posted...just that there should be more. Did I miss something?
 

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AFP: Obama pleads with Republicans on small business bill

Republicans strategy is to stop the country from recovering, and blaming it on Obama.
Then why is he advocating repeal of the Bush tax cuts for small businesses?

Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.”
Why is he advocating return of the death tax? Up to 55% tax on estates of $1 million or more? If that's not working against small business, I don't know what is.

He's a liar.
 

VanceMack

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Then why is he advocating repeal of the Bush tax cuts for small businesses?



Why is he advocating return of the death tax? Up to 55% tax on estates of $1 million or more? If that's not working against small business, I don't know what is.

He's a liar.
If they speak out against those they can invoke the name of Bush and appeal to the unwashed masses...then they can put forward the same principles in separate legislation and 'show' how much they care. Geez...skip to page 27 of the playbook and keep up already, willya? ;)
 

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If they speak out against those they can invoke the name of Bush and appeal to the unwashed masses...then they can put forward the same principles in separate legislation and 'show' how much they care. Geez...skip to page 27 of the playbook and keep up already, willya? ;)
Once again highlighting that the unwashed masses are idiots.
 

justabubba

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Then why is he advocating repeal of the Bush tax cuts for small businesses?

he is only advocating a return to the former tax rates for high earners - those making $200,000 ($250,000) as a couple
are you suggesting that business owners who are enjoying such profitability are unable to afford to pay a haigher portion of the taxes required to restore our nation to greatness? certainly, based on the profits they enjoy, they are benefitting from the tax paid infrastructure that makes this country a great one in which to own a small business

Why is he advocating return of the death tax? Up to 55% tax on estates of $1 million or more? If that's not working against small business, I don't know what is.
do you also believe that a windfall someone wins by buying a lottery ticket should also be exempt from taxation?
the person paying the taxes, either from lottery proceeds or from a willed estate, did not work for that windfall they enjoy ... then why should they not pay taxes like people who actually work for their incomes?

He's a liar.
please tell us exactly how he has lied
 

MaggieD

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he is only advocating a return to the former tax rates for high earners - those making $200,000 ($250,000) as a couple
are you suggesting that business owners who are enjoying such profitability are unable to afford to pay a haigher portion of the taxes required to restore our nation to greatness? certainly, based on the profits they enjoy, they are benefitting from the tax paid infrastructure that makes this country a great one in which to own a small business
He is also advocating the depreciation change for small business. This is huge.

do you also believe that a windfall someone wins by buying a lottery ticket should also be exempt from taxation?
the person paying the taxes, either from lottery proceeds or from a willed estate, did not work for that windfall they enjoy ... then why should they not pay taxes like people who actually work for their incomes?
Why on earth are you bringing up lottery tickets???? What a ridiculous parallel. Every dollar from a person's estate is after-tax dollars. A man works all his life, pays all of us taxes, and when he dies, the government confiscates what's left. A man creates a small business that employs 25 people. It's valued at $3 million after he dies. The government confiscates 55% over $1 million and assesses taxes. The business can't afford them. The business is forced to borrow money or sell off assets to pay this legalized extortion. 25 people lose their jobs. It's stealing. A farmer works all of his life on his 30 acres of land. He dies. The government assesses estate taxes on "highest and best use" of his land. His family must sell the land to pay the taxes. It's stealing.


please tell us exactly how he has lied
"Pleading with Republicans to help small business."
 

VanceMack

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he is only advocating a return to the former tax rates for high earners - those making $200,000 ($250,000) as a couple
are you suggesting that business owners who are enjoying such profitability are unable to afford to pay a haigher portion of the taxes required to restore our nation to greatness? certainly, based on the profits they enjoy, they are benefitting from the tax paid infrastructure that makes this country a great one in which to own a small business
Do you also believe that a windfall someone wins by buying a lottery ticket should also be exempt from taxation?
the person paying the taxes, either from lottery proceeds or from a willed estate, did not work for that windfall they enjoy ... then why should they not pay taxes like people who actually work for their incomes?
please tell us exactly how he has lied
WOuld you prefer patently dishonest? How many times have you heard the One (or any democrat say...you know..."the Bush tax cuts for individuals and small businesses really are a good thing...we just disagree that they applied them to big business and rich people too. not that it isnt effective but even though it is not really 'fair' the rich can afford to pay more taxes."

Instead they demonize tax cuts as being for the wealthy, then promote them as being good for middle income and small business. Its no different with their anti-terrorism practices. "Bush is evil and attacked civil rights...just like...welll...like we are doing..." see...that doesnt play real well.
 

digsbe

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Yes, the Republicans hate America, black people, poor people, and small business. That's why they don't rubber stamp everything Obama says and claims will help the country... Please, don't believe everything MSNBC tells you. On another note, studies show voting Republican may cause cancer.
 

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He is also advocating the depreciation change for small business. This is huge.



Why on earth are you bringing up lottery tickets???? What a ridiculous parallel. Every dollar from a person's estate is after-tax dollars. A man works all his life, pays all of us taxes, and when he dies, the government confiscates what's left. A man creates a small business that employs 25 people. It's valued at $3 million after he dies. The government confiscates 55% over $1 million and assesses taxes. The business can't afford them. The business is forced to borrow money or sell off assets to pay this legalized extortion. 25 people lose their jobs. It's stealing. A farmer works all of his life on his 30 acres of land. He dies. The government assesses estate taxes on "highest and best use" of his land. His family must sell the land to pay the taxes. It's stealing.




"Pleading with Republicans to help small business."
essentially, a 3 mm estate is taxed at 37%. a 2 mm estate is taxed at 27.5%.

and let's remember estate planning is available to everyone.
 

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It's a political ploy, just like with the unemployment extension bill. They have their minions in the LSM highlight the good portions of the bill, and then dare republicans to oppose it. After the congress has stuffed the bill with garbage, and the republicans oppose, then the LSM goes into full swing mode.. :)

The fact that some here can't see that, is glaringly dangerous. Oh, republicans do it too, so they're not off the hook. It's just that republicans aren't the ones making all the laws at the moment.. The dims are!

Oh, and an important note about this bill. Anyone catch the part about "authorizing" banks to lend money to small businesses? Hmm.. Authorizing.. Hmm.. Is that like guaranteeing loans? Can anyone say fannie and freddie? How about student loans.. Yeah this has all worked out in the past.. /sarc


Tim-
 

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essentially, a 3 mm estate is taxed at 37%. a 2 mm estate is taxed at 27.5%.

and let's remember estate planning is available to everyone.
Got a link, LibLady? I haven't been able to find one. As to estate planning, why should there have to be estate planning????

$2,000,000 X 27.5% = $550,000. That's where they're getting their 55%. The first million isn't tax-free if it's over $1 million.
 
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