Posted on 09/05/2010 9:22:24 AM PDT by Dubya-M-DeesWent2SyriaStupid!
(Adds details)
WASHINGTON, Sept 5 (Reuters) - President Barack Obama will ask the U.S. Congress on Wednesday to increase and permanently extend a tax credit for business research as a way of boosting job growth, an administration official said on Sunday.
The proposal would cost $100 billion over 10 years, and Obama would pay for the plan by closing other corporate tax breaks, said the official, who spoke on condition of anonymity.
Obama will call on Congress to increase to 17 percent from 14 percent one of two credit options available to businesses, the official said.
(Excerpt) Read more at reuters.com ...
It is partially true in this case if it really is a credit (not a deduction). A business could owe no tax, and get paid by a credit the govt for doing research, so It would be a cost to the govt (ultimately a burden on all other taxpayers). Tax credits probably shouldn’t exist as they are basically targeted welfare.
If the dumb ass can see the benefit in jobs of reducing corporate taxes, why can he not see the benefit in an across-the-board reduction in corporate taxes?
From, say, the highest of industrialized nations to maybe the lowest?
What if we were to have NO corporate taxes? Wouldn’t that attract investments and corporate headquarters?
The list, ping
Let me know if you would like to be on or off the ping list
Oh yeah, BIG time!
Does the MSM really think this last minute load of crap will get them re elected?
Yes. They think they can sell the dumbed-down American people the same bill of goods any number of times.
They are probably right. *sigh*
They not only think that can, they will be able to do it. Not to everyone, but enough to do what they want.
At least close enough to provide cover for voter fraud.
If the margin is wide enough, they can’t cheat.
So they can research how to drill offshore, but they can’t actually drill offshore. They can research how to dig for coal, but they can’t actually dig for coal. They can research how to build more efficient nuclear power plants, but they can’t actually build a more efficient nuclear power plant.
You got that right. If they can get close, they can manufacture,with help from the media, courts, and their other fellow travelers to get a majority.
What saved us in ‘00 was the Cubans would not let them close and lock the doors.
Vigilance and dedication are two ways we can stop it. But I do not believe that the Republican Party hierarchy wants to.
And they can research how to save some field rat in San Fran and give it millions. And they can research if they have they’re heads up their asses and they won’t believe the results.
“The proposal would cost $100 billion over 10 years, and Obama would pay for the plan by closing other corporate tax breaks.”
Obama added, “Essentially, we’re going to rob Peter to pay Paul. That way my proposal will be deficit neutral. Furthermore, while everyone knows that robbing Peter to pay Paul accomplishes almost nothing, at least we’re giving the appearance of doing something useful, making a change that we hope will increase business confidence. At least for now, it sure beats re-arranging the deck chairs, which is the only other option I was presented with by my council of economic experts. Hey everybody, I’m starving; let’s go buy some shrimp now! I’m buying!”
Soros does a lot of really important business research that needs to be subsidized so it can stimulate the economy. Why all the skepticism?
Taxes to pay for a research panel to discuss taxes, this will need a czar for sure. Tax Research Czar.
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