Posted on 06/16/2010 8:51:14 AM PDT by Kartographer
Republicans and a dozen Democratic defectors in the Senate have dealt a defeat to President Barack Obama just days after he pressed Congress to renew pieces of last year's economic bill.
After coming out on the losing end of a 52-45 test vote, Obama's Democratic allies have been forced back to the drawing board in their efforts to extend unemployment benefits for the long-term jobless and provide $24 billion in aid to cash-strapped state governments.
(Excerpt) Read more at news.yahoo.com ...
This is the bill that the press keeps saying raises taxes on investment managers.
According to my CPA, the bill in question does more than that.
It creates a distinction for service based corporations with less than X shareholders. Those corporations will be required to pay soc-security taxes on all dividends as if they are wages.
The end effect is that S-corps for small service businesses will see a tax increase of ~13% (employer + employee side of FICA).
Granted, most s-corps take some percentage of profits as wages to ward off the IRS, but many of them use dividends as their primary income in order to avoid the huge taxes on soc-security and medicare.
What gauls me, beyond the tax increase, is that it specifically targets small biz people who use their brains for profit. They don’t target brick and mortar businesses. They don’t target large law firms, accounting firms, or consulting firms.
They target those of us with no lobbying group that have won life’s lottery and are capable of using our intelligence to eek out a living.
Just a thought, but maybe he is so incompetent that he and his advisers actually believed that increased govt spending, regulations and higher taxes would create economic growth. He's surrounded by career politicians and academics. He has very few people advising him that have ever run, or created a business. He has never been responsible for anything in his life.
Maybe it's as simple as the peter principle. He's reached his level of incompetence.
That was YEARS ago.
I’m glad the bill did not pass.
Hmmmmm, Olympia Snowe, Susan Collins, Scott Brown.... eenie, meenie, minie, mo, take your pick, choose a RINO, any RINO. I am surpised only by the fact that only one Repub RINO chose to run & hide.
He’s just a community organizer. No more. No less.
Community organizer = Communist agitator.
He has no political capital. His endorsement is the kiss of death. lol
Well like the political calculus the president uses, the Republicans I think stood firm becuse the chronically unemployed are primarily Obama voters so who cares. 99 weeks of umemployment...give me a break. I have never been without a job for more than 6 weeks, in 99 weeks you can do something, anything and yes that may mean moving to a place where the jobs are and away form BunnyPatch, Iowa.
listen to some of the speeches of Van Jones, its all about reparations and redistribution of wealth from the white rich and middle class to the urban poor minorities. These green jobs they all talk about wanting to create will be given to urban minorities not to the working middle class that supports the welfare of these communities. Thats there end game total govt control of everyones way of life with gov jobs in the hands of people that have been “oppressed”.
I agree. Unemployment figures don’t count small business that went belly up. Those folks are not collecting and are not counted. Lots of small business owners in my area have closed up shop and are now doing odd jobs to feed themselves. I believe your number of 17% is much more like it.
It became 99 in drips and drabs over time. The initial number of weeks from a state is 26. Several federal extensions followed, each adding between 13 and 20 additional weeks. This went on for a period of about 2-1/2 years.
The closer November comes, the quicker rats run from odumbo
She’s so cute!
I second that.
No compromises! Nothing is better than anything the leftists are involved with...
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