Skip to comments.Obama Plans to Propose $38 Billion Business Tax Break
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 ...
"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
I predict the income rate reduction of the Bush years will remain in place when all is said and done as well.
$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-!
So, who’s butt is this waxing? Not mine. Small Business Owner.
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
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.
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.
A tax breah for evil CEO’s,
That should send his whacko worshippers in to orbit...
these polls from the previous
The haiku of FAIL.
$38 billion ?
How about giving the taxpayers a break?
see Lenin: V.I.; New Economic Plan: 1921
(gotta feed the golden goose a bit before you bleed it again)
Let me be clear: CUT THE F**KING MARGINAL RATE YOU MORON.
Have a nice day...
..... I was going to go off into a big rant about this ridiculous offer of crumbs, but you said everything that needed saying.
If a temporary tax cut is good, why isn’t a permanent tax cut.
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."
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.
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...
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.
It makes one grind their teeth to see all of it. Frustrating as all get out.
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.
What is the general mood of the military people you know about Obama now?
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.
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.
So, it sounds like most of the military hates him except for the blacks (mostly). Is that it?
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.