Obama unveils $33 billion tax credit to boost jobs

Reuters on Yahoo ^ | 1/29/10 | Steve Holland

[NormsRevenge]

BALTIMORE (Reuters) – President Barack Obama on Friday proposed $33 billion in tax credits to coax small businesses into hiring workers as he underscored his commitment to pushing job creation to the top of his agenda.

With public frustration over double-digit unemployment eroding his popularity, Obama has begun rolling out initiatives aimed at backing up his jobs pledge made in his economy-focused State of the Union Address earlier this week.

The latest proposal calls for a $5,000 tax credit for every net new worker hired in 2010. The amount would be capped at $500,000 per firm to make sure that the bulk of the benefits go to small businesses.

"The economy is growing but job growth is lagging," Obama told workers at a custom-machine plant in Baltimore.

He spoke after the release of data showing U.S. gross domestic product expanded at a faster-than-expected 5.7 percent in the fourth quarter, a trend he hailed as a "stark improvement" compared to economic decline a year ago.

But he insisted that more work was needed to spur employment and urged the U.S. Senate to push ahead with jobs legislation. The House of Representatives approved a $155 billion jobs bill in December.

Obama said his tax credit proposal could help small businesses to hire workers while lowering their taxes. He estimated that more than 1 million small businesses could benefit.

"Now's the perfect time for this kind of incentive," he said. "The key thing is it's time to put America back to work."

[cranked]

$787 billion was for what then? Oh wait, my bad.....

[NormsRevenge]

STay the course..

and you're a one-termer for sure.

President Barack Obama holds a town hall meeting at the University of Tampa
Bob Martinez Sports Center in Tampa, Florida, January 28, 2010.
REUTERS/Larry Downing

[Recovering Ex-hippie]

What a set-up and con job...the NEW jobs stats look great right for 2012...then the small business just lay off everyone...besides how are they supposed to hire without small bsns loans? Uh, oh yeah...and customers.

[ConservativeMind]

Hired, then laid off two months later.

Worker = free.

[Ev Reeman]

http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

[9YearLurker]

Basically the same stupid plan that a number of Freepers have been pushing. Kudos to Brown for pointing out on SOTU night that broad-based, not targeted, tax cuts are needed.

[EGPWS]

President Barack Obama on Friday proposed $33 billion in tax credits to coax small businesses into hiring workers as he underscored his commitment to pushing job creation to the top of his agenda.

Coax??

Somehow that just lacks an air of Presidential directive.

Free market, free people, all awaiting to be "coaxed".

[sten]

hmmm... $33 billion dollars to boost jobs. hmph.

let’s say they GAVE the money to small business if the business hires someone for $33,000 per year. that would CREATE 1 million jobs

meanwhile, if they did the same thing in order to put all 17m unemployed people to work... it would cost $561 billion.

which would be cheaper than the ‘stimulus’ package by almost a 1/4 trillion dollars

[Ev Reeman]

Subject: HELP IS ON THE WAY

>>
>> DON’T WORRY, HELP IS ON THE WAY!!!!
>>
>>
>>
>> Due
>> to the current financial situation caused by the slowdown
>> in the
>> economy,
>> Congress has decided to implement a scheme to put workers
>> of 50 years of age and above on early retirement, thus
>> creating jobs and
>> reducing
>> unemployment.
>>
>> This scheme
>> will be known as RAPE (Retire Aged
>> People
>> Early)..
>>
>> Persons
>> selected to be RAPED can apply to Congress to be
>> considered for
>> the
>> SHAFT program
>> (Special Help After Forced
>> Termination).
>>
>> Persons who
>> have been RAPED and SHAFTED will be reviewed under
>> the SCREW program
>> (System Covering Retired-Early
>> Workers).
>>
>> A person may
>> be RAPED once, SHAFTED twice and SCREWED as many times as
>> Congress deems
>> appropriate.
>>
>> Persons who
>> have been RAPED could get AIDS (Additional
>> Income for Dependants & Spouse)
>> or HERPES (Half Earnings
>> for Retired Personnel Early
>> Severance).
>>
>> Obviously
>> persons who have AIDS or HERPES will not be SHAFTED or
>> SCREWED any
>> further by
>> Congress.
>>
>> Persons who
>> are not RAPED and are staying on will receive as
>> much SHIT (Special High
>> Intensity Training) as possible. Congress has always
>> prided
>> themselves on
>> the amount of SHIT they give our
>> citizens.
>>
>> Should you
>> feel that you do not receive enough SHIT, please bring
>> this to
>> the attention
>> of your Congressman, who has been trained to give you all
>> the SHIT you can
>> handle.
>>
>> Sincerely,
>> The Committee
>> for Economic Value of Individual Lives
>> (E.V.I.L.)
>>
>> PS - - Due to
>> recent budget cuts and the rising cost of electricity,
gas
>> and oil, as well as current market conditions, the Light
>> at the End of the Tunnel has been turned
>> off.

Curtis Richardson

[MrPiper]

Let me get this right,,, you want me to pay a guy $30K/yer when my sales are down and layoffs eminent, to get $5K worth of tax deduction........ you are a MORON!!!

[Ev Reeman]

I cannot attest to authenticity of this e-mail, but it sure gives you food for thought.

Subj: Why pay for the care of the careless?

THIS IS ABSOLUTELY TRUE!!!!

His two-paragraph letter to the editor of his newspaper in Jackson , Mississippi accurately puts the blame on a “Culture Crisis” instead of a “Health Care Crisis”. It’s worth a quick read:

Dear Mr. President:
During my shift in the Emergency Room last night, I had the pleasure of evaluating a patient whose smile revealed an expensive shiny gold tooth, whose body was adorned with a wide assortment of elaborate and costly tattoos, who wore a very expensive brand of tennis shoes and who chatted on a new cellular telephone equipped with a popular R&B ringtone.
While glancing over her patient chart, I happened to notice that her payer status was listed as “Medicaid”! During my examination of her, the patient informed me that she smokes more than one costly pack of cigarettes every day and somehow still has money to buy pretzels and beer.
And, you and our Congress expect me to pay for this woman’s health care? I contend that our nation’s “health care crisis” is not the result of a shortage of quality hospitals, doctors or nurses. Rather, it is the result of a “crisis of culture”, a culture in which it is perfectly acceptable to spend money on luxuries and vices while refusing to take care of one’s self or, heaven forbid, purchase health insurance. It is a culture based in the irresponsible credo that “I can do whatever I want to because someone else will always take care of me”.
Once you fix this “culture crisis” that rewards irresponsibility and dependency, you’ll be amazed at how quickly our nation’s health care difficulties will disappear.
Respectfully,
STARNER JONES, MD

[1010RD]

Yep. Typical liberal special interest tax cut. They neither like nor trust people.

[Ev Reeman]

http://www.humanevents.com/article.php?id=35374

[Ev Reeman]

‘The most terrifying words in the English language are: I’m from the government and I’m here to help.’-Ronald Reagan

Heads Up.....CA Needs Money

Simply ridiculous...!!! $400.00 for a red light violation? Gezzzz, $400.00 would feed a good size family for a week... If you check, you’ll find that the actual fine is about $85.00 but with Sacramento and other entities taking a share or percentage of traffic fines, the “penalty assessments” nearly triple the actual traffic fine! You can bet that a lot of lower income folks will not be able to afford the fine and not pay the ticket ending up with a bench warrant for their arrest. RIDICULOUS!!!!

Heads up….California needs money, so pay close attention to the rules of the road!

Traffic Tickets Fines (01/06/2010)

Violation
Total Fine Due

VC 12814.6
214

Failure to obey license provisions.

VC 14600(A)
214

Failure to notify DMV of address change within 10 days

Note: The fine may be reduced with valid proof of correction.

VC 16028(A)
796

Failure to provide evidence of financial responsibility (insurance)

Note: This fine may be reduced with proof of insurance on or after the violation date.

VC 21453(A)
436

Failure to stop at a red signal.

VC 22350
214

VC 22349

Unsafe Speed, 1 to 15 miles over the limit.

VC 22350
328

VC 22349

Unsafe Speed, 16 to 25 miles over the limit.

VC 22450
214

Failure to stop at a stop sign.

VC 22454(A)
616

Passing a school bus with flashing red signals.

VC 23123(A)
148

Drive using wireless phone not hands free, First offense

VC 23123(A)
256

Drive using wireless phone not hands free, For each subsequent offense.

VC 23123.5(A)
148

Drive while wireless device to send, read or write text.

VC 23124(B)
148

Minor drive using wireless phone.

VC 22500(I)
976

Parking in a bus loading area.

VC 22507.8(A through C)
976

Violation of disabled parking provisions, first offense.

VC 22507.8(A through C)
1876

Violation of disabled parking provisions, second offense.

VC 26708(A)
178

Unlawful material on vehicle windows.

VC 27150(A and B)
178

Adequate muffler required

VC 27315(D and E)
148

Mandatory use of seat belts.

VC 27360(A and B)
436

Mandatory use of child passenger restraints

Note: This fine may be reduced by completing a court authorized child seat diversion program.

VC 27400
178

Headsets/Earplugs over both ears.

VC 27803 (A through C)
178

Motorcycle safety helmet requirements.

VC 34506.3
616

Commercial Driver - Log book violation

VC 4000(A)
256

No evidence of current registration.

Note: The fine may be reduced with valid proof of correction.

VC 4159
178

Notify DMV of change of address within 10 days.

Note: The fine may be reduced with valid proof of correction.

VC 5200
178

Display of license plates.

Note: The fine may be reduced with valid proof of correction.

VC 9400 (A through C)
178

Commercial weight fees due.

Note: The fine may be reduced with valid proof of correction.

[GeronL]

So if we hired a bunch of people for a week each, do we get $5000 each?

[Trajan88]

Okay, who am I now subsidizing with this boondoggle?

[Proud_USA_Republican]

"$787 billion was for what then?"

Political pork and kickbacks to those that got him elected.

[Las Vegas Ron]

President Barack Obama on Friday proposed $33 billion in tax credits to coax small businesses into hiring workers

Uh, bammie, companies hire employees because demand for their product or service warrant it, not because of tax credits.

F'n dork, although you can now say you gave tax breaks and it is the businesses fault that there is still un employment and not yours but we know your game.

[Sybeck1]

Hire a 50K a year employee just for a 5K tax break don’t seem to be a ood deal to me.