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.
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.
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.
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.
REDUCING TAXES stimulates economic growth????
ummmmm....
it didn't go far enough
small businesses cannot compete with the multinationals that avoid payment of taxes in America by using offshore tax havens
that loophole needs to be closed
http://www.ctj.org/taxjusticedigest/archive/2010/07/small_businesses_launch_campai.php
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.
so, some is worse than nothing? good lord.
so, some is worse than nothing? good lord.
AFP: Obama pleads with Republicans on small business bill
Republicans strategy is to stop the country from recovering, and blaming it on Obama.
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.”
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?
Then why is he advocating repeal of the Bush tax cuts for small businesses?
do you also believe that a windfall someone wins by buying a lottery ticket should also be exempt from taxation?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.
please tell us exactly how he has liedHe's a liar.
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
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
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."
Got a link, LibLady? I haven't been able to find one. As to estate planning, why should there have to be estate planning????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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