posted 11-25-2008 12:03 AM                  

It was part of how Obama would pay for an overall net tax cut aimed at low- and middle-income taxpayers, and an effort to bring what he called "fairness" to the tax system.

No one is talking tax hikes now.

Over the weekend, Obama said he has charged his new economic team with devising a plan that would create or preserve 2.5 million jobs over two years. He said the plan would include broad spending plans as well as the middle- and low-income tax cuts he described during the campaign.

Aides later said the plan would not include any of the tax increases Obama, as a candidate, had said he would impose on taxpayers who make more than $250,000.

Asked Monday when those hikes might go into effect, Obama said, "Whether that's done through repeal, or whether that's done because the Bush tax cuts are not renewed, is something that my economic team will be providing me a recommendation on."

If repealed early, Obama's tax increase on the rich would have generated significant revenue, but not enough to compensate for the cost of his tax cuts. An analysis by the Tax Policy Center, based on January 2008 income projections, estimated that the increases would result in about $43 billion in revenue in 2009 and $45 billion in 2010. Those numbers would be smaller now, as the economy has lowered expected incomes.

posted 11-25-2008 06:46 AM                  

Good luck on that. The only jobs he will create are government jobs, and a few SBA loans for George Jefferson Dry Cleaner establishments. We know who will pay for those types of jobs > us!

posted 11-25-2008 01:23 PM                  

quote:

---

Originally posted by ALLEY CAT:

Private businesses need a tax break now,,,,,to stimulate the economy,,,get $$$ moving again,,,,producing sales and profits,,,,and creating new jobs and working capital. [/B]

---

So you think taxes on a business profits are whats holding things back? I gotta tell you A/C, 17 years in business and the last thing on my mind are taxes on profits. I would just like to make a profit.

How about reducing the my health care costs?
How about changing the workers comp laws so I don't have to pay for something that another insurance company eventually foots the bill for?
How about employees that want to work?

Taxes are not keeping small business from hiring. It's the people they hire that are keeping small businesses from hiring. Everybody wants more then they are worth and to be taught on the job.

And I don't care what anyone say's it's not worth $74 in wages and benefits to hang the left side front door on a car all day long. That's not skilled labor.

People want to make big bucks then they go spend it at WalMart and wonder why the family bakery that they loved so much just went out of business. It must be due to increased taxes they think.

I don't shop at WalMart and I mostly eat out at local private establishments as opposed to chain restaurants.

posted 11-25-2008 07:30 PM                  

How about reducing the my health care costs? > Can't help you. Will probably go higher?

How about changing the workers comp laws so I don't have to pay for something that another insurance company eventually foots the bill for? > Can't help you. Run for political office,,,to change the local/state laws.

How about employees that want to work? > Can't help you,,,but I'd suggest firing those who don't carry their load, and hiring a few of the 300 people outside the front door waiting to fill out an application to work there.

Taxes are not keeping small business from hiring. > Your opinion,,,not mine. But I respect your opinion to express your thoughts. United States has the second highest, business tax rates in the world! No wonder med. to large companies are taking their production plants to foreign countries.

It's the people they hire that are keeping small businesses from hiring. > Weak excuse,IMO,,,,,,,,,screen them out better. Those wanting to work, and who are qualified,,,,are out there looking for good jobs,,,good employers.

Everybody wants more $$ then they are worth and to be taught on the job. > If the worker you want, and who applies for and is qualified for the job,,,, is worth $15 to $20 per hour,,,,,,pay 'em that instead of looking for entry level help. Charge slightly higher for quality work.

posted 11-26-2008 01:45 PM                  

Let's re-hire all the Clinton cronies and people like Rahm Immanuel who were part of the Freddie Mac boards which got us into the mortgage mess.