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UPDATE 1-Obama to propose permanent research tax credit
reuters.com ^ | Sun Sep 5, 2010 11:53am EDT | reuters.com

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 ...


TOPICS:
KEYWORDS: borrowpeter; credit; insane; lies; obama; paypaul; permenent; research; tax
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To: ThunderSleeps

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.


21 posted on 09/05/2010 10:03:20 AM PDT by Wayne07
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To: Dubya-M-DeesWent2SyriaStupid!

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?


22 posted on 09/05/2010 10:10:38 AM PDT by Redbob (W.W.J.B.D.: "What Would Jack Bauer Do?")
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To: Nick Danger
Worse they are trying to pick winners and losers again. What do you want to bet that the research money will go to unionized businesses.
23 posted on 09/05/2010 10:10:41 AM PDT by WHBates
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


24 posted on 09/05/2010 10:24:56 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Dubya-M-DeesWent2SyriaStupid!
Can Obama be more of an idiot?

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*

25 posted on 09/05/2010 10:51:21 AM PDT by null and void (We are now in day 589 of our national holiday from reality. - 0bama really isn't one of US.)
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To: null and void

They not only think that can, they will be able to do it. Not to everyone, but enough to do what they want.


26 posted on 09/05/2010 10:53:58 AM PDT by sport
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To: sport

At least close enough to provide cover for voter fraud.

If the margin is wide enough, they can’t cheat.


27 posted on 09/05/2010 10:57:20 AM PDT by null and void (We are now in day 589 of our national holiday from reality. - 0bama really isn't one of US.)
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To: Dubya-M-DeesWent2SyriaStupid!

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.


28 posted on 09/05/2010 11:05:45 AM PDT by Question Liberal Authority (Worst. Post-Racial President. EVER.)
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To: null and void

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.


29 posted on 09/05/2010 11:06:49 AM PDT by sport
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To: Question Liberal Authority

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.


30 posted on 09/05/2010 11:40:53 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: Dubya-M-DeesWent2SyriaStupid!

“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!”


31 posted on 09/05/2010 12:04:27 PM PDT by catnipman (Cat Nipman: Made from the Right Stuff!)
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To: Dubya-M-DeesWent2SyriaStupid!

Soros does a lot of really important business research that needs to be subsidized so it can stimulate the economy. Why all the skepticism?


32 posted on 09/05/2010 12:52:44 PM PDT by UnwashedPeasant (Don't nuke me, bro)
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To: rep-always

Taxes to pay for a research panel to discuss taxes, this will need a czar for sure. Tax Research Czar.


33 posted on 09/05/2010 5:00:53 PM PDT by HollyB
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