Obama to propose 'grand bargain' on corporate tax rate, infrastructure (1 Viewer)

[azgreg]

Obama to propose 'grand bargain' on corporate tax rate, infrastructure | Reuters

(Reuters) - President Barack Obama will propose a "grand bargain for middle-class jobs" on Tuesday that would cut the U.S. corporate tax rate and use billions of dollars in revenues generated by a business tax overhaul to fund projects aimed at creating jobs.

His goal, to be outlined in a speech at an Amazon.com Inc facility in Chattanooga, Tennessee, is to break through congressional gridlock by trying to find a formula that satisfies both Republicans and Democrats.

Efforts to reach a bipartisan "grand bargain" on deficit reduction have been at an impasse for months.

A spokesman for John Boehner, the Republican speaker of the House of Representatives, criticized the idea even before the release of the plan's details, saying it further backs Obama's policies on taxes and spending "while leaving small businesses and American families behind."

He can at least wait for the plan details before he bitches can't he?

 

[KevinKohler]

It will be a tax cut for corporations, and a public works project. Maybe hire on some accountants to help funnel more millions to dead farmers.



Obama has proved time and again the he's a corporate whore.

 

[Fisher]

So cutting taxes on corporations will give the government more taxes to spend? As far as republicans go, Obama might go down as one of the best that has ever held the office :2razz:

 

[wbcoleman]

Obama to propose 'grand bargain' on corporate tax rate, infrastructure | Reuters

He can at least wait for the plan details before he bitches can't he?

It is another tax increase. What else does anyone need to know?

 

[Tigger]

He can at least wait for the plan details before he bitches can't he?

Why bother waiting? It IS NOT and never has been the role of the Government to create jobs. Even when they've tried over the years, they generally fail miserably.

 

[azgreg]

It is another tax increase. What else does anyone need to know?

Why bother waiting? It IS NOT and never has been the role of the Government to create jobs. Even when they've tried over the years, they generally fail miserably.

Whether he's right or not it makes him look petty. It makes it look like he's against it just because Obama said it not because of it's content. That makes him look weak.

 

[Tigger]

Whether he's right or not it makes him look petty. It makes it look like he's against it just because Obama said it not because of it's content. That makes him look weak.

He should be against that sort of legislation no matter WHO proposes it, and without having to read it. It's unConstitutional so far as I'm concerned; and unlikely to work even if it was legitimate legislation..

 

[Dittohead not!]

Obama to propose 'grand bargain' on corporate tax rate, infrastructure | Reuters

Cut the corporate tax rate... OK, that's what the Republicans have been making mouth noises about wanting to do, but the "business tax overhaul" sounds a lot like "business tax increase", especially when he's talking about using the money thus generated for a "jobs program."

Unless, of course, he's become a trickle down supply sider expecting tax cuts to increase revenues in a new move toward voodoo economics.

I think we're a bit short on details at this point.

He can at least wait for the plan details before he bitches can't he?

It was proposed by a Democrat. That's the only detail that really matters to the Republican leadership.

 

[TheDemSocialist]

It is another tax increase. What else does anyone need to know?

Uhh... How in the hell is this a "tax increase". This is a huge tax cut for the corporate shrills, the right should be loudly supporting this.

 

[CanadaJohn]

Obama to propose 'grand bargain' on corporate tax rate, infrastructure | Reuters

He can at least wait for the plan details before he bitches can't he?

He could, but then knowing the history of Obama ideas on the economy, he's just going to be bitching anyway. And when was the last time an Obama initiated plan actually had details? Or are you suggesting the Pelosi method of governance, just pass the damn thing and maybe read it when you're on one of your congressional breaks?

 

[azgreg]

It was proposed by a Democrat. That's the only detail that really matters to the Republican leadership.

Oh, I know. It's a style of legislation that is becoming more and more disheartening every day.

 

[CanadaJohn]

Uhh... How in the hell is this a "tax increase". This is a huge tax cut for the corporate shrills, the right should be loudly supporting this.

Even without details, you can see this for the shell game it really is.

Here are the components briefly outlined above:

1. Reduce corporate tax rates - theoretically lowering business tax burdens.

2. Overhaul business tax code - i.e. reduce and eliminate loopholes, subsidies, write-offs, whatever other tax tools businesses normally use to reduce their tax load - theoretically increasing business tax burdens.

3. Use $billions in newly generated business tax revenue to create government funded jobs.

In order to get from 1 and 2 all the way to 3, it is only logical that the net effect of 2 minus 1 must be $billions in new business revenue or there's nothing to fund 3 unless, of course, you go to the Bank of Obama and just print $billions more.

 

[azgreg]

He could, but then knowing the history of Obama ideas on the economy, he's just going to be bitching anyway. And when was the last time an Obama initiated plan actually had details?

I know what you are saying, it's just that it makes him look petty bitching right of the bat without knowing any details.

Or are you suggesting the Pelosi method of governance, just pass the damn thing and maybe read it when your on one of your congressional breaks?

Absolutely not! I suggested no such thing.

 

[polgara]

He could, but then knowing the history of Obama ideas on the economy, he's just going to be bitching anyway. And when was the last time an Obama initiated plan actually had details? Or are you suggesting the Pelosi method of governance, just pass the damn thing and maybe read it when you're on one of your congressional breaks?

That's a tough one, but I'll take number two, Alex!

Greetings, CJ! :2wave:

 

[CanadaJohn]

That's a tough one, but I'll take number two, Alex!

Greetings, CJ! :2wave:

Good afternoon Lady P - hope all is well with you and you're back to full-run mode now.

 

[sawdust]

Obama's problem is that he doesn't believe in capitalism. He believes in crony capitalism, just like every banana republic dictator in South and Central America. He doesn't believe in free markets, he believes in central planning. He doesn't like the fundamentals of free enterprise. His presidency will be recorded in history as 8 wasted years where the crowning achievement is an unpopular and unworkable healthcare system that will end medical advancement and decrease the quality of care available in America. We have met the enemy and they are us as we elected this clown twice. His policies aren't aimed at eliminating poverty in America, they are aimed at making it comfortable at the expense of producers in the economy.

 

[CalGun]

The United States has completely lost control of its means of producing infastructure projects. The unions have made the cost outlandish and stupid. Case in point the $1.5 billion wasted by the VA on hospitals and the one in Colorado 8 years behind schedule; the 3 billion over run of costs on the CA bay bridge, the lies told to us in CA about the high speed rail costs (somewhere between $60/200 billion) like that's an acceptable answer. Until they reign in these unions infastructure projects are a waste of tax payer money and should be shelved until those who want to do the work will do so for a reasonable rate.

I met a paramedic on standby for those working on the bay bridge making $82.50 per hour sitting around doing nothing. People on that project making $275 an hour. This is a ridiculous waste of tax payer funds.

 

[polgara]

Good afternoon Lady P - hope all is well with you and you're back to full-run mode now.

Yep! :thumbs:

 

[CanadaJohn]

Obama's problem is that he doesn't believe in capitalism. He believes in crony capitalism, just like every banana republic dictator in South and Central America. He doesn't believe in free markets, he believes in central planning. He doesn't like the fundamentals of free enterprise. His presidency will be recorded in history as 8 wasted years where the crowning achievement is an unpopular and unworkable healthcare system that will end medical advancement and decrease the quality of care available in America. We have met the enemy and they are us as we elected this clown twice. His policies aren't aimed at eliminating poverty in America, they are aimed at making it comfortable at the expense of producers in the economy.

Welcome to DP - I haven't seen your other 4 posts, but this one sure sums things up suscinctly. Well done.

 

[DVSentinel]

Obama to propose 'grand bargain' on corporate tax rate, infrastructure | Reuters




He can at least wait for the plan details before he bitches can't he?

He could, yes. But he may, I know this is stretch, also understand that Obama is not going to propose anything that will make a substantial change.

Tax rates are just one part of the whole. In the end, if the cost of doing manufacturing and other jobs cost more in the US than elsewhere, even after lower tax rates, then it will not have a huge impact. If the cost of an American made product still is significantly higher than the foreign one, then companies will stay overseas because the higher cost alone will decrease their sales and thus profits.

To make a significant impact, Obama would also have to address labor costs, EPA, OSHA, regulation, and other factors. Addressing just tax rates won't change much at all. Do you really see Obama or any Demo going against labor, environmentalist and decreasing government involvement? I don't.

 

[washunut]

Cut the corporate tax rate... OK, that's what the Republicans have been making mouth noises about wanting to do, but the "business tax overhaul" sounds a lot like "business tax increase", especially when he's talking about using the money thus generated for a "jobs program."

Unless, of course, he's become a trickle down supply sider expecting tax cuts to increase revenues in a new move toward voodoo economics.

I think we're a bit short on details at this point.




It was proposed by a Democrat. That's the only detail that really matters to the Republican leadership.

Is it possible to post a comment on this site that is not partisan, stupid or both. Just last week, Harry Reid said he would not even review the proposal of his own committee chairman because the tax reform was revenue neutral. So when Obama says cut rates and spend the EXTRA revenues on a new stimulus package, even the folks on this site should be able to understand he is calling for a tax increase and additional spending.

So if you are for neither, why do you need the details as azgreg and others call for to understand that this is a blatant partisan attack versus an attempt at compromise.

 

[Conservative]

Uhh... How in the hell is this a "tax increase". This is a huge tax cut for the corporate shrills, the right should be loudly supporting this.

Supporting what? You think it is the Federal Govt's role to create jobs or the atmosphere for the private sector to create jobs? The govt. doesn't invest, it spends and any job created has to be funded after the initial funding runs out so who does that? You want badly to believe what Obama says but lack the ability to think beyond the moment and the cost to the taxpayers for those spending programs.

 

[TheDemSocialist]

Supporting what? You think it is the Federal Govt's role to create jobs or the atmosphere for the private sector to create jobs? The govt. doesn't invest, it spends and any job created has to be funded after the initial funding runs out so who does that? You want badly to believe what Obama says but lack the ability to think beyond the moment and the cost to the taxpayers for those spending programs.

Wait so they gov's job is supposed to help private enterprise create jobs? Might as well x out every single conservative president who claimed "we are going to create jobs"..

 

[washunut]

Supporting what? You think it is the Federal Govt's role to create jobs or the atmosphere for the private sector to create jobs? The govt. doesn't invest, it spends and any job created has to be funded after the initial funding runs out so who does that? You want badly to believe what Obama says but lack the ability to think beyond the moment and the cost to the taxpayers for those spending programs.

Let's also remember that Obama is proposing a reduction in rates, not revenues which he expects to increase. He will do this by eliminating deductions. Sen. Reid would not even consider a corporate tax package that was revenue NEUTRAL.

 

[Conservative]

Wait so they gov's job is supposed to help private enterprise create jobs? Might as well x out every single conservative president who claimed "we are going to create jobs"..

Provide incentive, do you understand the word and definition? You think Obamacare and higher taxes is incentive for a private business owner who cannot print money to create jobs and grow their business? Try responding to what I posted rather than diverting as usual.