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Obama Has Released A 27-Point Plan For His Second Term, And It's A Doozy (Here's a quick summary)
Business Insider ^ | 10/24/2012 | Walter Hickey

Posted on 10/24/2012 3:04:29 PM PDT by SeekAndFind

After failing to deliver a line by line economic plan, the Obama campaign stepped up to the plate this week and delivered a glossy memo with 27 points on how he would use a second term in office.

It's called The New Economic Patriotism: A Plan For Jobs & Middle-Class Security and millions of copies have been printed and shipped off to swing states.

The plan is broken up into seven different parts, focusing on topics that include manufacturing, energy, small businesses, education, taxes and the deficit, healthcare, and Medicare and Social Security. While a lot of crucial details are still missing, it's a start to understanding what another four years under Obama would like.

For voters who can't get their hands on a copy, we've broken down the points here.

*******

1) Lower the corporate tax rate

In the plan, Obama touts the growth in the manufacturing sector over the last four years, and says that his new goal is to add 1 million new manufacturing jobs by 2016. The first point of his five point plan on manufacturing is to lower the corporate tax rate — which now stands at a maximum of 35% — by a quarter for domestic manufacturers:

[Reform] the corporate tax code to bring down tax rates – cutting tax rates on domestic manufacturers by nearly a quarter – while closing tax preferences and loopholes to pay for it.

This would bring the tax rate for manufacturers down to 26.25%

2) End deductions for outsourcing companies

Right now companies can claim a deduction on their taxes for a portion of the cost of exporting operations abroad, as the move offshore is considered a business expense. Obama wants to end that deduction:

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


TOPICS: Culture/Society; Government; News/Current Events; Politics/Elections
KEYWORDS: economy; obama; plan; secondterm

1 posted on 10/24/2012 3:04:38 PM PDT by SeekAndFind
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To: SeekAndFind

ANYBODY IN FR OBJECT TO THIS:

Invest in domestic energy sources

The second point of his energy plan emphasizes developing alternative energy sources, “including wind, solar, clean coal, nuclear, and biofuels. All while increasing our energy efficiency.”

OR THIS:

Cut taxes for companies that hire

With his small business plan, Obama is appealing more to a class of entrepreneurs as a whole rather than any specific subset of the economy, so it makes sense that the plan is more a strategy that a point by point goal set.
The first is to create a tax cut for businesses that hire or increase wages, and to allow businesses to continue writing off business expenses.

OR THIS:

Cut $2.50 for each $1 in revenue increases

This portion details the ratio of spending cuts to revenue increases in the Obama tax plan.

The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services to the point that the economy is harmed.
Here’s the policy:

President Obama’s plan reduces the deficit by more than $4 trillion over the next decade, including $1 trillion in spending cuts he signed into law last summer, and cutting $2.50 in spending for every $1 in additional revenue from the wealthiest families and closing corporate loopholes.


2 posted on 10/24/2012 3:07:08 PM PDT by SeekAndFind
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To: SeekAndFind
"The New Economic Patriotism:"

This is as Marxist a slogan as 'Forward'

3 posted on 10/24/2012 3:07:24 PM PDT by HannibalHamlinJr
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To: SeekAndFind

COMPARE OBAMA’s PLAN TO ROMNEY’s PLAN WHICH IS SUMMARIZED HERE:

http://www.businessinsider.com/romney-debate-economic-plan-2012-10?op=1


4 posted on 10/24/2012 3:08:16 PM PDT by SeekAndFind
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To: SeekAndFind

If anyone wants to know what a second term for Obama would look like, all they need to do is look at the results of the last four years. Complete disaster and epic fail!!


5 posted on 10/24/2012 3:08:22 PM PDT by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: HannibalHamlinJr

COMPARE OBAMA’s PLAN TO ROMNEY’s PLAN WHICH IS SUMMARIZED HERE:

http://www.businessinsider.com/romney-debate-economic-plan-2012-10?op=1


6 posted on 10/24/2012 3:09:04 PM PDT by SeekAndFind
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To: HannibalHamlinJr
Actually I recall it was Leninist: The "New Economic Plan" in the 20's after initial communistic gambits went belly up.

Nice obama used the same initials, NEP.

7 posted on 10/24/2012 3:15:18 PM PDT by hinckley buzzard
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To: SeekAndFind

NEP... New Economic Patriotism
Reminds me of Lenins “NEP”.......


8 posted on 10/24/2012 3:22:20 PM PDT by Kozak (The means of defence again.t foreign danger, have been always the instruments of tyranny at home JM)
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To: SeekAndFind

NEP... New Economic Patriotism
Reminds me of Lenins “NEP”.......


9 posted on 10/24/2012 3:22:23 PM PDT by Kozak (The means of defence again.t foreign danger, have been always the instruments of tyranny at home JM)
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To: SeekAndFind

“ANYBODY IN FR OBJECT TO THIS:

Invest in domestic energy sources”

Ummm...yep I object to Solyndra et al 2.0.

“Cut taxes for companies that hire”

This is already in his ‘jobs plan’, and most business organizations agree that a one time payday is not a good reason to make a hiring decision.

“Cut $2.50 for each $1 in revenue increases”

The last time the GOP agreed to such a deal, it was $4 to $1...one side kept their side of the bargain, the other didn’t. Its Lucy and the football stuff.


10 posted on 10/24/2012 3:25:17 PM PDT by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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To: SeekAndFind

Why do we have to “pay for a tax cut?” That phrase drives me nuts. Simplify the tax code and lower the rates where everyone willingly pays and has no incentive to “game the system” or avoid paying taxes. You will have more than enough revenue to cover everything the government should be doing, and a vibrant and growing economy that will begin moving people from the handout category to an employed taxpayer.

This monkeying with our ridiculous tax code, playing games to reward certain groups and donors, and making compliance virtually impossible for the average joe, needs to stop.


11 posted on 10/24/2012 3:27:12 PM PDT by Kandy Atz ("Were we directed from Washington when to sow and when to reap, we should soon want for bread.")
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To: Kandy Atz

..because it is THEIR money, not yours...

(what were you thinking?)


12 posted on 10/24/2012 3:36:57 PM PDT by telstar12.5 (...always bring gunships to a gun fight...)
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To: Kozak

Ah, NEPotism.

Lotsa new Kenyans in the workforce, then?


13 posted on 10/24/2012 3:37:19 PM PDT by Hardraade (http://junipersec.wordpress.com (I will fear no muslim))
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To: SeekAndFind

He’s a LIAR....I don’t believe ANYTHING he says.


14 posted on 10/24/2012 3:37:42 PM PDT by goodnesswins (What has happened to America?)
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To: SeekAndFind

LOL

too little , too late, too full of lies, too full of things NO ONE (even his supporters) believes he will ever do, and...

4 years AFTER HE WAS ALREADY GIVEN A CHANCE TO DO ANY OF THESE THINGS


15 posted on 10/24/2012 3:39:32 PM PDT by Mr. K ("The only thing the World would hate more than the USA in charge is the USA NOT in charge")
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To: SeekAndFind

>>Cut $2.50 for each $1 in revenue increases<<

$2.50 over 10 years is NOT $1 times 10 years. That’s the gotcha; plus the spending cuts never materialize while taxes go up. Base line budgeting has to be outlawed. Departments need to be eliminated. Property confiscated by the feds needs to be returned to the states.


16 posted on 10/24/2012 3:42:55 PM PDT by NTHockey (Rules of engagement #1: Take no prisoners)
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To: SeekAndFind

They really are a bunch of commies, they even have an NEP


17 posted on 10/24/2012 3:45:22 PM PDT by GeronL (http://asspos.blogspot.com)
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To: SeekAndFind

From the “O” regime?? More than likely the same BULLSHIT and LIES he has been trying to peddle to the American People for the last four years!!! FORGETABOUTIT!!!


18 posted on 10/24/2012 3:47:38 PM PDT by GoldenPup (Comrade "O" has got to GO!!)
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To: SeekAndFind
Cut $2.50 for each $1 in revenue increases

This portion details the ratio of spending cuts to revenue increases in the Obama tax plan.

The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services to the point that the economy is harmed.

No - the idea is to get more of our hard earned money into the DC corruption machine. The cuts would never happen but spending would increase accordingly. Using that math - why not just cut $1.00 out of every $2.50 raised thru the current tax collection system without raising taxes?

19 posted on 10/24/2012 3:49:26 PM PDT by capydick (''Life's tough.......it's even tougher if you're stupid.'')
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To: NTHockey

That isn’t even a reduction in the rate of growth


20 posted on 10/24/2012 3:49:41 PM PDT by GeronL (http://asspos.blogspot.com)
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To: SeekAndFind

ANYBODY IN FR OBJECT TO THIS:

Anybody who believes this crap from obuma is not just a fool, but a damn fool.


21 posted on 10/24/2012 3:53:19 PM PDT by sergeantdave (The FBI has declared war on the Marine Corps)
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To: SeekAndFind

The tax increases on the “wealthy” he has planned will probably reduce revenue, not increase it. Additionally, his parameters mean that a school teacher married to a firefighter will be included in the “wealthy” category, even though they are solidly middle class.


22 posted on 10/24/2012 3:56:30 PM PDT by Sam Cree (absolute reality)
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To: lacrew

I’ll bet he has not backed off on his tax on small businesses disguised on taxing the “rich”. This new plan is a smoke screen for his real target: Socialism.


23 posted on 10/24/2012 3:57:38 PM PDT by sr4402
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To: SeekAndFind

Let me save everyone a lot of time and sum it up in far fewer words:

Same crap as the last four years - money thrown away on donors’ “green energy” schemes, temporary incentives that don’t really boost hiring, more stimulus spending using the money allegedly “saved” from ending wars he’s previously claimed were put on a credit card and never paid for, promises of deficit reductions that will NEVER actually occur, etc. etc. etc. — only with higher taxes on the rich.

It’s no wonder Obama is so popular with the Hollywood crowd because his administration is just like a bad movie: the first part sucked, and the sequel would be even worse.


24 posted on 10/24/2012 4:08:16 PM PDT by HHFi
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To: SeekAndFind

I was expecting something more like
Point Goal
1 Raise Taxes
2 Raise Taxes
3 Raise Taxes
4 Raise Taxes
5 Raise Taxes
6 Raise Taxes
7 Raise Taxes
8 Raise Taxes
9 Raise Taxes
10 Raise Taxes
11 Raise Taxes
12 Raise Taxes
13 Raise Taxes
14 Raise Taxes
15 Raise Taxes
16 Raise Taxes
17 Raise Taxes
18 Raise Taxes
19 Raise Taxes
20 Raise Taxes
21 Raise Taxes
22 Raise Taxes
23 Raise Taxes
24 Raise Taxes
25 Raise Taxes
26 Raise Taxes
27 Raise Taxes


25 posted on 10/24/2012 4:15:41 PM PDT by ImJustAnotherOkie (zerogottago)
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To: ImJustAnotherOkie

Don’t forget immigration *reform* - to reward the illegals for their GOTV efforts.


26 posted on 10/24/2012 4:18:50 PM PDT by Jane Long (Soli Deo Gloria!)
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To: SeekAndFind

You should see all 932 of his executive orders. I hope Romney does away with all of them.


27 posted on 10/24/2012 4:19:09 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Jane Long

...and sacrificing soldiers and ambassadors for political gain.


28 posted on 10/24/2012 4:22:57 PM PDT by ImJustAnotherOkie (zerogottago)
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To: SeekAndFind

“Cut $2.50 for each $1 in revenue increases”

Logic would dictate that instead of off-setting cuts vs. taxes in their 2.5./1 ratio is to just reduce the proportion of the cuts to $1.50 and forget the matching $1 tax increases.


29 posted on 10/24/2012 4:31:59 PM PDT by torchthemummy (Middle East Islamic Democracy: "One Man, One Vote, One Time")
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To: SeekAndFind

Reminds me of the “Wish in one hand and Sh!+ in the other” saying.

Looks like the non-wishing hand has filled up at the DNC and they are trying to empty it into our hands.


30 posted on 10/24/2012 4:33:28 PM PDT by pennyfarmer (Romney is a cresent wrench when you need a hammer. Sure it might work, but do you want to chance it?)
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To: torchthemummy

Where is the fun in that? No room to politicize the outcome. Your a bore. /sarc :)


31 posted on 10/24/2012 4:36:19 PM PDT by pennyfarmer (Romney is a cresent wrench when you need a hammer. Sure it might work, but do you want to chance it?)
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To: ImJustAnotherOkie

Your version of his plan is only half right; see my corrections...

1 Raise Taxes
3 Spend More
4 Raise Taxes
5 Spend More
6 Raise Taxes
7 Spend More
8 Raise Taxes
9 Spend More
10 Raise Taxes
11 Spend More
12 Raise Taxes
13 Spend More
14 Raise Taxes
15 Spend More
16 Raise Taxes
17 Spend More
18 Spend More
19 Raise Taxes
20 Spend More
21 Raise Taxes
22 Spend More
23 Raise Taxes
24 Spend More
25 Raise Taxes
26 Spend More
27 Raise Taxes
28 Spend More
29 Raise Taxes
30 Spend More
31 Raise Taxes
32 Spend More
33 Raise Taxes
34 Spend More
35 Raise Taxes
36 Spend More
37 Raise Taxes
38 Spend More
39 Raise Taxes
40 Spend More
41 Raise Taxes
42 Spend More
43 Raise Taxes
44 Spend More
45 Raise Taxes
46 Spend More
47 Raise Taxes
48 Spend More
49 Raise Taxes
50 Spend More
51 Raise Taxes
52 Spend More

That takes care of the first year...

For the remainder of his term replace ‘Raise Taxes’ with ‘Borrow More’

For the libtards that might be trolling through, Spend More=Invest More/Redistribute More


32 posted on 10/24/2012 4:58:41 PM PDT by CenTex (O's internals... Assume fetal position... Insert thumb... Enjoy...)
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To: pennyfarmer

If. Was Mitt Romney, when I take office in January, my first order of business is to never invite the Obamas back to the Wite House for anything.


33 posted on 10/24/2012 4:58:44 PM PDT by EQAndyBuzz
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To: SeekAndFind

I object to all of that!

The government shouldn’t be ‘investing in’ or trying to pick winners among energy options.

The government certainly shouldn’t be paying companies to be less efficient by using more employees than needed.

Taxes are already too high, the GOP shouldn’t again fall for cranking them up higher in exchange for promised budget cuts.


34 posted on 10/24/2012 5:34:48 PM PDT by 9YearLurker
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To: SeekAndFind

“Invest in domestic energy sources”

That is not a job for government. The best energy policy is NO “energy policy”, just a flat corporate tax policy that applies to all corporations with no deductions, exceptions or exemptions, or subsidies ANYWHERE, leaving all sectors of the economy, not just “energy” to invest, innovate, expand, contract, export, import, hire, fire as science, technology and markets not rigged by government inform business as to what it should do.

“Cut taxes for companies that hire”

Corporate taxes should be cut for all companies, whether they hire or not. Special tax breaks for hiring have been shown by studies done by economists to be short term as far as any effect on overall employment goes. They usually mean that hiring increases during the short term affect of the tax credit, and then fall below the hiring levels that existed before the tax credit; and most often, in the long run, total employment has not been increased by special subsidies for hiring.

“Cut $2.50 for each $1 in revenue increases”

Where was this “compromise” (and that’s what it is with what Republicans have been demanding), in 2009, 2010, 2011 or 2012 - never happened, and given Obama’s inability to compromise on the $1 trillion over ten years spending for Obamacare, or Medicare and Medicaid, the biggest sources of domestic spending, the fact is there is no $2.50 of cuts for $1 of new revenue left in the budget, unless, and only partially, the U.S. military is to stripped to the bone as it was between WWI and WWII. China, Russia, Iran and the Islamists will just love that. The fact is that Obama has never and will never “cut” $2.50 in federal spending against $1 of federal anything.

“The idea is to get the right mix of government cuts and tax increases to cut the deficit without cutting essential services” - translation - the $1 trillion of Obamacare spending is part of “essential services”, the federal taking of all college loans is part of “essential services”, the expansiong of FoodStamps to 47 million Americans is part of “essential services”, the non-performing and totally unnecessary federal costs for federal K-12 education mandates are part of “essential services”. the expansion of SCHIP health insuraqnce subsidies to families earning at 600% of the pverty level is part of “essential services”, the total EPA budget is part of “essential services”, extravgent Medicaid AS IS is part of “essential services”, special subsidies to “green” energy are part of “essential services”, subsideis for “high speed” trains to no where are part of “essential services”, wasteful unprofitable Amtrack is part of “essential services”; you get the picture - Obama just lies, period.

Obama, the buggest liar in the WH since Bill Clinton releases his economic plan one day AFTER his last debate with Mitt Romney - and people are supposed to believe it?

Obama’s record speaks for itself. As Clint Eastwood said; he’s a hoax.


35 posted on 10/25/2012 9:08:44 AM PDT by Wuli
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