Obama's Job Plan? Raise Taxes!

[Erasmus]

Lew said the "tax provisions" that Obama was proposing included:

A limit on itemized deductions and certain exemptions on individuals who earn over $200,000 and families who earn over $250,000, which would raise roughly $400 billion over 10 years.

A proposal to treat carried interest earned by investment fund managers as ordinary income rather than taxing it at capital gains rates, which would raise $18 billion.
Eliminating certain oil and gas industry tax breaks that would raise $40 billion.

A change in corporate jet depreciation rules that would raise $3 billion.

http://www.cnbc.com/id/44488639

Sounds more like a Kill More Jobs Act to me. I still have to go back to the study on homosexual penises, which cost $899,000.  If you can afford that type of study, YOU DON'T NEED ANY MORE MONEY.

[DumbAss Tanker]

A change in corporate jet depreciation rules that would raise $3 billion.

A meaningless sop to his base which can have no real effect, for what it peanuts in terms of the amount he has to find for this BS to work (On the baseless assumption it would anyway). 

Well, it will probably put some pilots and maintenance guys on the street when 25% of the bizjet fleet gets grounded, but I don't think that's what he was looking for here.

[Erasmus]

A meaningless sop to his base which can have no real effect, for what it peanuts in terms of the amount he has to find for this BS to work (On the baseless assumption it would anyway). 

Well, it will probably put some pilots and maintenance guys on the street when 25% of the bizjet fleet gets grounded, but I don't think that's what he was looking for here.

How can this failure NOT know that he's going to create even longer jobless lines with this garbage?

[NHSparky]

How can this failure NOT know that he's going to create even longer jobless lines with this garbage?

He doesn't care.  He's playing to the base--"See how much I care about you??  Taking money away from those eeeeevil rich people!"

Of course, the fact that none of that money makes it to them makes not a bit of difference.

[JohnnyReb]

He doesn't care.  He's playing to the base--"See how much I care about you??  Taking money away from those eeeeevil rich people!"

Of course, the fact that none of that money makes it to them makes not a bit of difference.

Right...but the main thing to them is...the evil rich don't have it any more.

[cavegal]

Same ol song and dance with him.

[Erasmus]

Like a smart business owner is going to hire someone just to get a $4,000 credit on their taxes.  Let's see, hire someone at $30,000 a year that I don't need, I get $4,000.  Brilliant.  If a company is going to hire someone, they will.  $4,000 won't be promoting any new employment all by itself.

[thundley4]

Like a smart business owner is going to hire someone just to get a $4,000 credit on their taxes.  Let's see, hire someone at $30,000 a year that I don't need, I get $4,000.  Brilliant.  If a company is going to hire someone, they will.  $4,000 won't be promoting any new employment all by itself.

That $4000 credit or deduction won't even cover the cost to employers of ObamaCare.

[DumbAss Tanker]

Like a smart business owner is going to hire someone just to get a $4,000 credit on their taxes.  Let's see, hire someone at $30,000 a year that I don't need, I get $4,000.  Brilliant.  If a company is going to hire someone, they will.  $4,000 won't be promoting any new employment all by itself.

At the margin, it probably will mean some few minimum-wage people get hired, because for that wage level, it does shift the break-even point enough to make a slight difference.  That is, it will if they are small enough businesses to be exempt from the most oppressive pay & benefit regulations, aren't unionized, and if the full $4K is available on minimum-wage jobs instead of being pro-rated down for lower-paying jobs.

The lucky winners will still get cut loose the second the tax break goes away, unless the business is actually doing well enough to really need them at full (Still minimum-wage) pay by that point.     

[NHSparky]

At the margin, it probably will mean some few minimum-wage people get hired, because for that wage level, it does shift the break-even point enough to make a slight difference.  That is, it will if they are small enough businesses to be exempt from the most oppressive pay & benefit regulations, aren't unionized, and if the full $4K is available on minimum-wage jobs instead of being pro-rated down for lower-paying jobs.

The lucky winners will still get cut loose the second the tax break goes away, unless the business is actually doing well enough to really need them at full (Still minimum-wage) pay by that point.     

Actually, I'd be curious to see if businesses in high-turnover industries get credit for each employee they hire--for example, get someone in a place with 50 percent turnover, does he get a certain limit or $4K for every lunkhead they hire?

[vesta111]

http://www.cnbc.com/id/44488639

Sounds more like a Kill More Jobs Act to me. I still have to go back to the study on homosexual penises, which cost $899,000.  If you can afford that type of study, YOU DON'T NEED ANY MORE MONEY.

Excuse me Erasmus, are you employed with a high end government grant to study the penises of homosexuals ???

Just so happens I could use a part time job, my Nursing job in the past exposed me to hundreds of penises of all kinds, working for Public Health I have seen some interesting penises.    I think I could work at this job.

I have seen some so odd we took pictures and sent them to the CDC,  some with what looked like barnacle's growing on them, What was that mildew growing ,  how the heck did they get chiggers eggs hatching in that appendage ?

Please PM me when a part time job comes up,  seems like an interesting job.    

 

[Erasmus]

Excuse me Erasmus, are you employed with a high end government grant to study the penises of homosexuals ???

lol, nope.  I wish I was though.  I'd have taken the $899,000 and farm out the work to some gay graduate student with a Stanley tape measure and a Big Chief tablet for $500 and kept the difference (which is probably what happened anyways).

Just so happens I could use a part time job, my Nursing job in the past exposed me to hundreds of penises of all kinds, working for Public Health I have seen some interesting penises.    I think I could work at this job.

I have seen some so odd we took pictures and sent them to the CDC,  some with what looked like barnacle's growing on them, What was that mildew growing ,  how the heck did they get chiggers eggs hatching in that appendage ?

Please PM me when a part time job comes up,  seems like an interesting job.    
 

lol, I will keep you posted.

[DLR Pyro]

Same ol song and dance with him.

more like shuck and jive

[diesel driver]

Same ol song and dance with him.

With the same ol' result.

WE still get stuck with the bill.

Hurry November 2012!

[Freeper]

You all are missing the point of this job bill.
I shall splain how it will work.
Most of the measures in this bill that I have seen so far will end up with job losses.
The people who lose their jobs will apply for, and receive unemployment benefits.
Unemployment benefits and food stamps, according to the Democrats, stimulate the economy and create jobs.
So, with the increase of people drawing unemployment, the economy will be booming in mere months.
It's a brilliant plan!!!!!111111 elevnty one.
 

[thundley4]

President Barack Obama proposed curbing the amount of interest from municipal bonds that top earners can exclude from their taxable income, a step that may diminish demand for state and local-government securities.

The president’s $447 billion job-creation plan would pare the tax break for municipal-bond interest to 28 percent for couples earning more than $250,000 a year. Such tax-exempt interest is currently worth 35 percent for earners in the top tax bracket because that’s the amount they would otherwise have to pay on their income.

Any move to limit the tax advantage for municipal securities would face resistance from local-government officials because the break bolsters demand for their debt, lowering the interest rates they pay when borrowing for public works. Investors in the $2.9 trillion market for municipal bonds are willing to accept lower returns because the income isn’t taxed.

http://www.bloomberg.com/news/2011-09-12/obama-jobs-plan-proposes-limits-on-tax-breaks-for-municipal-bond-investor.html

Sounds to me lie this would make people less willing to invest in state and local bonds.  Is Obama trying to make them more dependent on the federal government.

[DumbAss Tanker]

President Barack Obama proposed curbing the amount of interest from municipal bonds that top earners can exclude from their taxable income, a step that may diminish demand for state and local-government securities.

The president’s $447 billion job-creation plan would pare the tax break for municipal-bond interest to 28 percent for couples earning more than $250,000 a year. Such tax-exempt interest is currently worth 35 percent for earners in the top tax bracket because that’s the amount they would otherwise have to pay on their income.

Any move to limit the tax advantage for municipal securities would face resistance from local-government officials because the break bolsters demand for their debt, lowering the interest rates they pay when borrowing for public works. Investors in the $2.9 trillion market for municipal bonds are willing to accept lower returns because the income isn’t taxed.

This would actually be a sea change in something that has been a bedrock of tax law for all of living memory.  Qualified municipal bond proceeds have been one of the few totally tax-exempt forms of income and thus the one safe port in a storm for trustees and other fiduciary investors, many of them pay a decent rate of return (Especially in the current flat economy), and they are the engine of almost all local public sector construction, and therefore most of the non-housing construction industry (Public projects, but private sector jobs).  The investors who buy these bonds, while often a sweetheart or even downright corrupt deal at the local level, are not the dad and mom with 2.5 kids that would be exempt from this change.  This one could have HUGE unintended consequences.           

[true_blood]

Nothing about Obozo is for building jobs. He's a jobs destroyer.
He'll build the unions and then they will be putty in his hands, little do the unions realize. After all, almost a trillion dollars that was spent on the "stimulus package" did wonders for jobs and the economy.

[compaqxp]

Link

I love the BS buy American policy he keeps going after. It'll only help hurt both countries in the end if it happens.

It's nice to know he wants to help screw us up with his nonsense too.
 

[GOBUCKS]

At the margin, it probably will mean some few minimum-wage people get hired

Well, now, that directly impacts the jug-eared Kenyan's base then, doesn't it?

[DumbAss Tanker]

Well, now, that directly impacts the jug-eared Kenyan's base then, doesn't it?

Of course.  Pretty transparent where that was aimed, I'd say.

[WARBOUND]

Obama has no job plan. He just wants more Government. In his perfect society everyone will work and live around the Government establishment. We will be slaves to the system more then just the mind, our physical presence will be controlled to do their bidding.

[Kid A]

http://www.cnbc.com/id/44488639

Sounds more like a Kill More Jobs Act to me. I still have to go back to the study on homosexual penises, which cost $899,000.  If you can afford that type of study, YOU DON'T NEED ANY MORE MONEY.

Please show me the correlation between higher taxes and job growth....I as well as many economists would be interested in seeing it.

[President Zero]

Chris Christie said it best in his recent speech when he talked about Obama convincing the public that we need to share more of the pie instead of increasing the size of the pie. An old addage, but not used enough in my opinion.

[Taylor]

http://www.cnbc.com/id/44488639

Sounds more like a Kill More Jobs Act to me. I still have to go back to the study on homosexual penises, which cost $899,000.  If you can afford that type of study, YOU DON'T NEED ANY MORE MONEY.

Let's call it what it is.  A tax increase plan.  And he knows damn well it will never get passed.  Just more Obama drama, theatre, bread and circuses and the usual leftist partisan hack BS.

November 2012 can't some soon enough.  Literally.