Tomorrow President Obama will introduce a new tax cut for businesses that invest in new equipment and plants (the manufacturing kind, not the green kind) from now until 2011. I can get behind this tax cut more than a tax cut for the rich because this tax cut will actually force the money to trickle down. Sure, people who own big businesses will save some money by being able to write off new equipment and factories, but that in turn will create more jobs for the middle and lower class. Money has to be spent in order for it to be written off on the business's tax filings.
Contrast this with a tax cut for the rich, which some politicians have claimed will allow the saved money to trickle down to the lower classes "in theory", even though a lot of that money ends up just sitting in some bank account.
So, what say you, Hubbers? Do you support this new tax cut?
I also like the tax cut. Helps manufacturing and manufacturing jobs which will then help a larger sector of society. Plus, gives business incentives to expand or rejuvinate, good idea.
I have to see if he has any string attached, i.e. to get the tax get you have to buy the equipment from a company who is greater than 75% minority. I do not trust this guy?
The thing that would help the economy to stablelize if the governent would stablelize. There is many threats out there against businesses, i.e end of Bush tax cuts, cap and trade, Epa has new regs coming in 2013 that will close down 10-20% of manufacturing and electrical plants.
This administration has just too many unknown variables and threats out there, that until BO and crew settle down, there will be no economic recovery.
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