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Obama Plans to Propose $38 Billion Business Tax Break
Business Week ^ | 1/27/10 | Ryan J. Donmoyer and Roger Runningen

Posted on 01/27/2010 10:51:19 AM PST by Nachum

Jan. 27 (Bloomberg) -- President Barack Obama tonight will propose extending through 2010 a temporary tax incentive that encourages businesses to accelerate purchases of equipment, an administration official said.

Obama will call for renewal of the 50 percent so-called bonus depreciation in his State of the Union address to the nation, said the official, who spoke on condition of anonymity.

Extending the break, which expired Dec. 31, would save companies that make purchases of equipment such as tractors, wind turbines, solar panels and computers a total of $38 billion over this year and next by allowing a 50 percent write- off of the cost in the first year, the official said.

(Excerpt) Read more at businessweek.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 111th; agenda; bho44; bhosotu; break; bushtaxcuts; business; obama; tax
And not a dime for small businesses
1 posted on 01/27/2010 10:51:22 AM PST by Nachum
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To: Nachum
No tax cuts for the middle class. I guess they had to give something up somewhere.

"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus

2 posted on 01/27/2010 10:52:51 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Nachum
What? Obama extending "Bush's tax cuts"! The left should be in a rage. But they will instead play this as Obama's idea.

I predict the income rate reduction of the Bush years will remain in place when all is said and done as well.

3 posted on 01/27/2010 10:54:09 AM PST by Phantom Lord (Fall on to your knees for the Phantom Lord)
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To: Nachum
Wind turbines and solar panels? Sounds like more of the green initiative.

And you're right, nothing for small businesses.
4 posted on 01/27/2010 10:54:10 AM PST by tongue-tied
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To: Nachum

$787 BILLION to bailout idiots who placed the economic structure and foundation of this country at severe jeopardy but a mere $38 billion to the engine of growth and jobs in this country?

Jack Squat, one word for ya: I-D-I-O-T-!


5 posted on 01/27/2010 10:56:08 AM PST by cranked
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To: Nachum

So, who’s butt is this waxing? Not mine. Small Business Owner.


6 posted on 01/27/2010 10:58:43 AM PST by poobear
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To: Nachum
Everything this jerk does is an obscene joke.


7 posted on 01/27/2010 11:04:58 AM PST by Cobra64
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To: Nachum

I’ll say it again, running any business is like being in a poker game. The game only works when the rules and odds are predictable. 0 has no idea that his style and agenda are upsetting the rules and odds. On top of this the hands being dealt aren’t so good. So, who is going to go all in on a 2 and 5 off suit?

The real problems aren’t being addressed:
Taxes, Health care costs, Energy costs, Credit


8 posted on 01/27/2010 11:05:45 AM PST by updatedscreenname
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To: Nachum

He’s just throwing darts at the dartboard as usual. No clue about cause and effect. One of these days he’s going to accidentally do something right.


9 posted on 01/27/2010 11:11:33 AM PST by McLynnan (Obama also seemed painfully uncomfortable without his TelePrompter security blanket)
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To: Nachum
It ended on December 31, because the great one and the rest of the Dims were against extending it.

Now - after Virginia, New Jersey and Massachusetts spoke - he's willing to put it back into affect.

Before he was again it, now he be for it.

Is he honest enough to admit that economic recovery will come from what the private sector is let go to do, without political coercion, and not from what is drained from the private sector into political programs??? Doubt it.

10 posted on 01/27/2010 11:15:01 AM PST by Wuli
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To: Nachum

A tax breah for evil CEO’s,

That should send his whacko worshippers in to orbit...


11 posted on 01/27/2010 11:15:41 AM PST by tcrlaf (Obama White House=Tammany Hall on the National Mall)
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To: Nachum
I inherited

these polls from the previous

administration.

The haiku of FAIL.

12 posted on 01/27/2010 11:21:07 AM PST by clintonh8r (Nobody's 'bot!!)
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To: Nachum

$38 billion ?
Yawn.


13 posted on 01/27/2010 11:21:34 AM PST by Eric in the Ozarks (Impeachment !)
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To: Nachum

How about giving the taxpayers a break?


14 posted on 01/27/2010 11:23:06 AM PST by doodad
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To: Nachum

see Lenin: V.I.; New Economic Plan: 1921

(gotta feed the golden goose a bit before you bleed it again)


15 posted on 01/27/2010 11:26:28 AM PST by Buckeye McFrog
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To: Nachum

Let me be clear: CUT THE F**KING MARGINAL RATE YOU MORON.

Have a nice day...


16 posted on 01/27/2010 11:27:56 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: updatedscreenname

..... I was going to go off into a big rant about this ridiculous offer of crumbs, but you said everything that needed saying.

Bravo.


17 posted on 01/27/2010 11:29:11 AM PST by Senator John Blutarski (The progress of government: republic, democracy, technocracy, bureaucracy, plutocracy, kleptocracy,)
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To: Nachum

If a temporary tax cut is good, why isn’t a permanent tax cut.


18 posted on 01/27/2010 11:34:16 AM PST by Blood of Tyrants (Truth - Reality through the eyes of God.)
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To: Nachum
...would save companies that make purchases of equipment such as tractors, wind turbines, solar panels and computers a total of $38 billion over this year and next by allowing a 50 percent write- off of the cost in the first year, the official said.

Yes, but T. Boone Pickens & the CEO of GE will probably gain another year to sell-off the divisions that make this cr@p & leave some other guy holding the bag when economic reality dawns on the "Green Economy."

19 posted on 01/27/2010 11:36:45 AM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: McLynnan

His dart board has been sanitized on anything that would be meaningful to the real world and instead focuses on stupid, pie in the sky, liberal wet dreams.


20 posted on 01/27/2010 11:50:47 AM PST by Blood of Tyrants (Truth - Reality through the eyes of God.)
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To: updatedscreenname

Amen! Every business in America saw, up close and personal, how well Odumbo’s “incentives” work for business. It was called Cash for Clunkers. Dealers are still waiting to be paid...still waiting...


21 posted on 01/27/2010 12:24:25 PM PST by Happyinmygarden (Yes, actually, I have pretty much seen and heard it all before...)
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To: Nachum
Which means my step daughter's fledgling IT business is going to have to keep getting shots in the arm from her dad who pays her health ins.

The new Demonrat mantra! Woof, woof, let granny eat dog food...spoof on 'let them eat cake'. obama's war on seniors

See the links in post 43-46 and on the last page.

Expanding support for families balancing work with caring for elderly relatives with a $102.5 million Caregiver Initiative adding $52.5 million in funding to Department of Health and Human Services caregiver support programs that provide temporary respite care, counseling, training, and referrals to critical services. The administration says the extra funding will allow nearly 200,000 additional caregivers to be served and 3 million more hours of respite care to be provided. It also adds $50 million to programs that provide transportation help, adult day care, and in-home services, such as aides to help seniors bathe and cook, help which eases the burden for family members and helps seniors stay in their homes.

http://motherjones.com/mojo/2010/01/obama-puts-social-security-chopping-block

22 posted on 01/27/2010 12:42:33 PM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, disabled,seniors & retired Military)
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To: GailA

It makes one grind their teeth to see all of it. Frustrating as all get out.


23 posted on 01/27/2010 12:47:31 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum
I've been fuming for weeks. Hubby's Navy retirement check was $10.80 lighter thanks to 0 fiddling with the tax codes. On top of NO COLA, now we are facing a whopping big new fee for his Tricare for Life (in the DOD bill), along with the Medicare and SS cuts.

And you can't get one of the talk radio host to address the cut and gut either. When Hannity interviewed Scott Brown, and Brown mentioned the cut and gut it went right over Hannity's head.

Not even RUSH has mentioned it.

Woof, woof let granny eat dog food, the new demwit mantra.

24 posted on 01/27/2010 1:19:57 PM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, disabled,seniors & retired Military)
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To: GailA

What is the general mood of the military people you know about Obama now?


25 posted on 01/27/2010 2:11:42 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Phantom Lord

Oh, the left won’t rage at all - these are “targeted” tax cuts for purchases of “approved equipment”.

The left only rages when the individual actual determines how his own earnings will be spent or given.


26 posted on 01/27/2010 2:13:50 PM PST by MrB (The difference between a humanist and a Satanist is that the latter knows who he's working for.)
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To: Nachum

From the ladies I talk to at the Exchange and Commissary, they didn’t like him to begin with and sure didn’t vote for him. One girl from the Philippines liken him to their former dictator. The foreign women and older ones (whites) know exactly what he is. A Military hater. Blacks are another story, they have blinders on. I blame it on botox and dingy when I talk to them, they wanted shillary, so they want 0 to fail. He, he, LOL sometimes you have to us tricks to inform people.

We are a proud Military family. My step dad put the flag back up on Corregidor when MacArthur retook it and has a bronze star. My late husband’s uncle Ralph was part of the original Merril’s Marauders, late husband USAF was Vietnam Era Vet, worked the Mace Missile system. His uncle Jim USAF worked radar sites. My hubby of 1 year spent 20 years in the Navy, retired a Senior Chief, was in the waters off Cuba during the missile crisis, and on the Midway when they pulled the ambassador out of Vietnam.


27 posted on 01/27/2010 4:26:15 PM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, disabled,seniors & retired Military)
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To: GailA
What a family history! My step father was a WWII vet (army). The rest of my family came out of Europe in the twenties and after to either escape the Communists, or Hitler. Many of my family perished there. One great uncle ran to Cuba, -not the best move. My step dad wouldn't talk about his service at all...

So, it sounds like most of the military hates him except for the blacks (mostly). Is that it?

28 posted on 01/27/2010 4:48:24 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Bingo. My step dad didn’t talk about his time in the Pacific either. His family came out of Italy. His dad told them they were now Americans and to only speak English, and enforced it. Ralph didn’t talk about his time with the Marauders either. Shot out a few stop lights when he got liqoured up.


29 posted on 01/27/2010 5:17:25 PM PST by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, disabled,seniors & retired Military)
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