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Obama reviewing hundreds of billions worth of tax cuts

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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:30 PM
Original message
Obama reviewing hundreds of billions worth of tax cuts
With just two months until the November elections, the White House is seriously weighing a package of business tax breaks - potentially worth hundreds of billions of dollars - to spur hiring and combat Republican charges that Democratic tax policies hurt small businesses, according to people with knowledge of the deliberations.

Among the options under consideration are a temporary payroll-tax holiday and a permanent extension of the now-expired research-and-development tax credit, which rewards companies that conduct research into new technologies within the United States...

White House officials cautioned that no tax cuts have been settled on and that a more limited measure could emerge. Policy staffers are debating a range of options. For example, a payroll-tax holiday - a top priority of many business groups - could be applied only to new hires or extended to current employees. It could be limited to small businesses or extended to larger firms.

If administration officials can agree on a policy path, it is not clear that it would be approved in the current environment on Capitol Hill. And even if Congress did approve new measures to bolster the economy, they would probably come too late to make a difference in the lives of recession-weary voters before the midterms.

http://www.washingtonpost.com/wp-dyn/content/article/20...
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:34 PM
Response to Original message
1. Its going to be hard to claim SS needs to have cuts because of the deficit
After increasing the deficit by cutting taxes so dramatically.
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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:35 PM
Response to Reply #1
2. Silly. SS is just people sucking on the government tits. These tax cuts would be for business!!
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:37 PM
Response to Reply #2
5. You're right, what was I thinking?!
:thumbsup:
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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-04-10 07:38 PM
Response to Reply #5
9. :)
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:36 PM
Response to Original message
3. But NO tax cuts for the middle class/working class that need it the most.
:argh:
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county worker Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 02:37 PM
Response to Original message
4. The new hires idea only is scary. Some employers would fire someone and replace them with a new hire
to get the tax break.
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Ramulux Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 03:02 PM
Response to Original message
6. Translation
I hate the democratic party and want to do everything in my power to see they lose as badly as possible this November.

Jesus Christ, I literally dont know what to say about this. If Obama honestly thinks this is a good idea, we are 100% fucked, if he thinks bringing this up now is smart policy and politics its all over.
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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 03:10 PM
Response to Reply #6
7. +100
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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-03-10 09:44 PM
Response to Reply #6
8. .
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