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Aid bill includes $10 billion in new taxes on U.S. corporations that do business abroad

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 09:30 AM
Original message
Aid bill includes $10 billion in new taxes on U.S. corporations that do business abroad
Edited on Wed Aug-11-10 09:46 AM by ProSense
President Obama signs $26 billion jobs bill to aid state payrolls

<...>

The sum is about half what Obama requested. Democratic leaders were forced to scale back the package by rank-and-file Democrats concerned about how more spending would play with angry voters. They also had to cover the cost of the measure so that it would not increase future deficits. The bill includes nearly $10 billion in new taxes on U.S. multinational corporations that do business abroad, and it rescinds after 2014 an increase in food stamp payments enacted in last year's $862 billion stimulus package.


The cuts to foods stamps don't take effect until after 2014 and only rescind the increases related to the stimulus.

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 09:47 AM
Response to Original message
1. No comment? n/t
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ipaint Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 09:57 AM
Response to Reply #1
2. Yes, that food stamps are on the table for cuts is a national disgrace. nt
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 10:19 AM
Response to Reply #2
6. Food stamps are not being cut. The stimulus wasn't a forever program.
The fact is that immediate end to the $25 increase to unemployment benefits is more drastic.


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ipaint Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 04:12 PM
Response to Reply #6
8. Of course we wouldn't want a bare minimum of food to be a forever program.
What was I thinking, when looking for funds always cut from the poorest of the poor, they have no voice so they don't complain. And the comfortable democratic middle class in this country wouldn't be caught dead defending the right to adequate food for all americans by insisting cuts are made that don't cause increased hunger and starvation.

I stand corrected. :crazy:
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ipaint Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 10:13 AM
Response to Reply #1
4. Starve the poor.
Obama Signs State Aid Bill After Dems Cut $12B in Food Stamp Funding

President Obama has signed into law a $26 billion measure Democrats say will save the jobs of 300,000 public sector workers, around half of them teachers. The House reconvened from summer recess to approve the state aid bill on Tuesday following Senate passage last week. To advance the bill, Democratic leaders agreed to cut $12 billion in spending on food stamps.The Food Research and Action Center says the cuts will impact some 40 million people when they take effect in 2014. A family of four that receives food stamps stands to lose $59 in monthly benefits. Democratic Congress member Rosa DeLauro of Connecticut voted for the measure, but said, "I cannot in good conscience condone what we have taken away...The bill shamefully pits these priorities against each other."

http://www.democracynow.org/2010/8/11/headlines#4
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rocktivity Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 10:11 AM
Response to Original message
3. "Rank-and-file Democrats (are) concerned
about how more spending would play with angry voters"?

New tax revenue equals more spending?

:crazy:
rocktivity
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discopants Donating Member (457 posts) Send PM | Profile | Ignore Wed Aug-11-10 10:17 AM
Response to Original message
5. 4 years to fix the increase in food stamp funding vs. immediate job layoffs
Pelosi did the right thing.


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ipaint Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 04:13 PM
Response to Reply #5
9. I'm sure it's first on her list to "fix" in 4 years right after
health insurance deform and financial deform.
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whistler162 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 02:21 PM
Response to Original message
7. K&R
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Vinca Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 04:59 PM
Response to Original message
10. Dems would be wise to keep food stamps off the table when negotiating.
Especially in this economy. People generally don't read the fine print and will immediately think they'll need to give up eating in the near future. I'm happy they're addressing the corporate tax dodgers though.
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