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.
by ptosis2 months ago
yea or nea? Are you HAPPY! that the richest .01% get less taxes? I mean - they did earn it didn't they?Do they just work harder? Is everybody else just stupid and lazy? Hard work will only get you so far if...
by Moderndayslave6 years ago
With the income gap between the wealthiest American's and the soon to be decimated middle or working class ever increasing. How much more proof do you need that tax cuts for the wealthy isn't creating jobs or supplying...
by Mike Russo5 years ago
The next time someone tells you that Obama is destroying the economy, remind them that the stock market and corporate profits are at all-time highs.When they tell you that this hasn't helped them, remind them they've...
by kerryg7 years ago
Republicans have repeated the lie that tax cuts are always good for the economy so often that all of Washington seems absolutely convinced that it's true. The conventional wisdom is so established on this that all a...
by My Esoteric2 years ago
The bottom line of President Reagan's Right-wing endorsed economic policy is that "if you put more money in the hands of the wealthy, it will, 1) Expand the economy, 2) Let the boat rise with the economy, and 3)...
by Deforest3 years ago
poor" by Gore Vidal. He added that the rich are living off the federal government (contracts and tax breaks...).I definitively agree with him. Your opinion?
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