Obama Promises New Economic Proposals Next Week

Discussion in 'Politics, Religion, Social Issues' started by mcrain, Sep 3, 2010.

  1. mcrain macrumors 68000

    mcrain

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    #1
    http://www.cbsnews.com/8301-503544_162-20015546-503544.html

    I know there is a bill (that the President mentioned below) that was stalled before the August recess, but any ideas on what else they might be considering to increase job creation?

    Will the two parties be able to work together or have we become too partisan to do what needs to be done? Are we too close to the midterms for either side to actually work together?
     
  2. Thomas Veil macrumors 68020

    Thomas Veil

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    #2
    Emphatically yes. In fact, there is no way Obama is stupid enough to think that the Republicans will put aside politics and do anything that's good for the country. If anything, this is a win/win scenario for him. On the 0.0000001% chance that the GOP goes along with this, he's scored something that's good for the country. If the GOP balks, the Dems can portray them as anti-small business.
     
  3. leekohler macrumors G5

    leekohler

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    #3
    If the Republicans don't do it, we'll no beyond a shadow of a doubt that they do not care about the country, only themselves.
     
  4. NT1440 macrumors G4

    NT1440

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    #4
    FINALLY. The problem is that small business hasn't been taken care of for various reasons.

    Funnily, or depressingly, enough credit is oozing for big businesses. We handed them billions of dollars and gave them NO REQUIREMENTS, and NO OVERSIGHT, yet we look around bewildered wondering why the average citizen hasn't benefitted one bit.


    The question is, who rallied for no oversight and no regulations when giving away all this money? I don't care if they are a D, an R, or a purple anteater, I want to punch them directly in the ****ing face. :mad:


    We watch on the news every night about feature A,B, or C being stripped from important reforms in the name of cooperation. Then, months later our public is seriously stupid enough, and apparently forgetful enough, to just be generically mad at Obama when he has no hand in crafting these policies.


    To America:

    Are you ignorant, willfully ignorant, or just downright mentally retarded?

    Signed,

    Someone who cares about our future enough to look past the accusations and buzzwords.

    /rant thats been lingering for months.
     
  5. SactoGuy18 macrumors 68020

    SactoGuy18

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    #5
    Don't be surprised that we see a proposal for a much-simplified income tax with relatively few deductions in return for a lower maximum rate on income, capital gains, dividend payments and bank account interest.

    Almost everyone agrees that the current income tax system is WAY too complicated and a massive waste of resources just to comply with it (I've read the 2009 Federal returns cost US$304 BILLION in compliance costs). The income tax form should be no more than four pages long (two for the main return, one for attaching the schedule of the few remaining deductions and one for a deductions on a small business), which would slash the cost of compliance to half of the current system and would actually encourages Americans to keep their savings and capital investments in the USA (since it would include generous exemptions for levels of bank account interest, capital gains and dividend payment income).
     
  6. mcrain thread starter macrumors 68000

    mcrain

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    #6
    I'm all for a simpler tax code. ELIMINATE capital gains taxes, ELIMINATE estate taxes, ELIMINATE gift taxes and ELIMINATE all caps on various taxes.

    Simple. If you make X, you pay Y percentage.
     
  7. SactoGuy18 macrumors 68020

    SactoGuy18

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    #7
    My gripe with the income tax system is the MOUNTAIN of deductions for just about every Tom, Dick and Harry industry group or other special interest group that turns the tax code into a undecipherable mess (even the IRS admits they can't figure out much of it!). That's why we need to drastically prune it down to a far simpler system with relatively few deductions, one that will have vastly lower compliance costs and encourage Americans NOT to take jobs, factories and even liquid assets out of the USA as an income tax dodge.
     
  8. brianfast macrumors regular

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    #8
    Why are you saying this? I am willing to bet no one in this thread has read the bill...

    This small business bill is a joke... small business is not what drives the economy, it is only what politicians say to pander to voters. The amount of money in the bill is not enough to make any impact at all... and it is filled with pork...

    I would vote against the bill which seems like it is only a token gesture to generate public support while leaving many variables for big businesses to guess. Variables need to be eliminated.
     
  9. mcrain thread starter macrumors 68000

    mcrain

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    #9
    ELIMINATE THEM ALL. Tax every penny that comes in the front door. Simple.

    Maybe add one tax... maybe tax every penny spent overseas or to buy an item from overseas.
     
  10. leekohler macrumors G5

    leekohler

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    #10
    So what? It's a brilliant political move. Republicans pull this s*** all the time. It's about damn time they got a taste of their own medicine.

    BTW- all I have is your post to go on. I'll check it out later.
     
  11. macfan881 macrumors 68020

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    #11
    and I'm sure you read the Bill page for page.:rolleyes:
     
  12. mcrain thread starter macrumors 68000

    mcrain

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    #12
    Hey BP, did you read the bill? Are you well versed in tax law? What's your learned opinion? Seeing as you know all about it.
     
  13. leekohler macrumors G5

    leekohler

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    #13
    I might also mention that small businesses are usually good innovators, with many growing to be large businesses. But hey, we shouldn't let a little thing like the truth get in the way. Small business is extremely important for the future of the country.
     
  14. Shivetya macrumors 65816

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    #14
    Too bad the guy who many believed would be the Main Street President actually was the Wall Street President. I guess we should have asked what the street name was.


    His small business loan proposal is meaningless. Small businesses are trying to get by in a dour economy and the smart ones are not going to take on debt they might not be able to pay back. Where is the incentive to expand when the tax cuts many small businesses enjoy; being that their income is reported by their owners and not as a corporation; may go up in smoke raising their costs. Throw in the fact no one knows the true impact of the recently passed Health Care law and the bogeyman of Cap and Trade hiding around the corner.

    Even big corporate America isn't readily expanding, many sitting on billions of dollars, without reason to spend it as they can't see pass the fog that is Washington.
     
  15. mcrain thread starter macrumors 68000

    mcrain

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    #15
    So, are you by any chance insinuating that the GOP isn't really supporting small businesses, but merely protecting the big businesses that are their benefactors? Say it isn't so!
     
  16. flopticalcube macrumors G4

    flopticalcube

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    #16
    http://www.smallbusinessnotes.com/aboutsb/rs299.html

    * small business defined as those with fewer than 500 employees.
     
  17. mcrain thread starter macrumors 68000

    mcrain

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    #17
  18. macfan881 macrumors 68020

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    #18
    I think that what he's getting I know atleast I fell this way the GOP has been saying we need to focus on Jobs Jobs Jobs and if not a single Gop Votes on this bill or atleast proposes one, they are just bent out to make sure that Obama Fails and dont care about what they preach.
     
  19. william sire macrumors regular

    william sire

    #19
    And working in reverse but I guess he forgot to mention that.
    Ending his insane direction of leadership is a good start. Stepping down from a job he is hopelessly unqualified to do would help too.

    I was thinking how it would prove just how much they care about the country more than worrying about the next election cycle if they don’t go along with Obama.
     
  20. Blue Velvet Moderator emeritus

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    #20

    [​IMG]



    Sorry, but which direction is insane?
     
  21. leekohler macrumors G5

    leekohler

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    #21
    From what BV posted, looks like we're headed in a good direction.

    They really do have you brainwashed, don't they?
     
  22. brianfast macrumors regular

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    #22
    Well, while it seems common to call a business with fewer than 500 employees "small" I have a problem with publicly traded companies being referred to as "small"...

    You guys also have to remember that in a service economy like we live in large corporations create initial money/jobs and then service companies (many small businesses) spring up to cater to that money...

    This job bill extends the unemployment benefits... that is what I call pork in a "jobs" bill.
     
  23. Eraserhead macrumors G4

    Eraserhead

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    #23
    ^^

    AFAIK <50 employees is usually treated as small. 500 is pretty big - bigger than that is probably large.

    That's illegal under WTO rules, and would be bad for everyones economies.
     
  24. mgguy macrumors 6502

    mgguy

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    #24
    The most important thing For republicans to accomplish is to move control of the government away from democrats, even if that means accepting short-term extension of our down economy. The last thing republicans want is for the economy to improve or for democrats to be perceived as offering good ideas to improve it just before the fall elections.
     
  25. Eraserhead macrumors G4

    Eraserhead

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