Obama seeks massive tax break for business

[Crvena-Zastava]

http://www.latimes.com/news/nationworld/nation/la-na-obama-economy-20100907,0,3857547.story

I would have posted the entire article here, but it is relatively long. A fair bit of interesting stuff in there, too :rolleyes:

[GPDP]

Soshulism!!!

[NGNM85]

Virtually all of this focuses on a large upcoming public works program. That's actually a very good idea. My biggest objection, offhand, is that this plan isn't big enough. We need something more on the scale of the New Deal. This would actually help out the working class instead of paying off the gambling debts of a number of lazy, uncompetitive firms so they can go back to the casino. Construction has been hit particularly hard. This is exactly what the government should be doing during hard times like these, infrastructure and public works projects to create jobs and bring up the poor and middle class, as opposed to the Republican plan to slash social programs which will just make it worse.

[the last donut of the night]

Virtually all of this focuses on a large upcoming public works program. That's actually a very good idea. My biggest objection, offhand, is that this plan isn't big enough. We need something more on the scale of the New Deal. This would actually help out the working class instead of paying off the gambling debts of a number of lazy, uncompetitive firms so they can go back to the casino. Construction has been hit particularly hard. This is exactly what the government should be doing during hard times like these, infrastructure and public works projects to create jobs and bring up the poor and middle class, as opposed to the Republican plan to slash social programs which will just make it worse.

What part of "Obama seeks massive tax breaks for business" didn't you hear?

[NGNM85]

What part of "Obama seeks massive tax breaks for business" didn't you hear?

Clearly, you didn't actually read the article.

[Barry Lyndon]

Clearly, you didn't actually read the article.

Here we go again, with NGNM85 telling us what the words in front of our face really mean.

'Anarchists for Obama' has a weird ring to it.

[NGNM85]

Here we go again, with NGNM85 telling us what the words in front of our face really mean.

You're full of shit because you didn't read it, either.

From the Los Angeles Times;
"Obama Seeks Massive Tax Break for Business"
By Kathleen Henessey

"Companies could save $200 billion by writing off capital investment. The president also announces a $50-billion spending plan for roads, runways and railroads.


The White House hopes to cover the costs by closing a series of tax breaks for oil and gas companies.

"This is a plan that will be fully paid for. It will not add to the deficit over time; we're going to work with Congress to see to that," Obama said.

It is unclear whether Congress will have the appetite for another major spending bill. Congressional Democrats have spent much of this campaign season defending themselves against Republican charges of wasteful and unnecessary spending that ballooned the deficit and delivered few results.

Polls have shown that the stimulus spending package passed last year has not been popular, particularly with independent and fiscally conservative voters.

Rep. Adam Smith (http://www.revleft.com/topic/politics/government/adam-smith-PEPLT006109.topic) (D-Wash.) applauded Obama's infrastructure proposal, as well as a plan to extend research and development tax credits, but was circumspect in assessing the initiatives' chances of being approved by Congress.

"In both instances, we're going to see how they're paid for and plugged into the economic mix," Smith said. He also said it was unrealistic to expect either initiative to have a significant short-term effect on the economy or job market.

The $50-billion plan amounts to slightly more than what was allocated to highway, rail and other transportation projects in last year's $814-billion stimulus package. Critics derided some of those projects as wasteful, and others, including many in the construction industry, complained about delays at the state level in getting projects approved and launched.

Even so, private economists have estimated that the recovery act overall boosted employment by more than 3 million jobs. And analysts say there's little question that government spending on infrastructure can give a shot in the arm to the economy, generating a hefty amount of jobs for an industry that desperately needs them.

Construction employment is down nearly 2 million from late 2007, accounting for about a quarter of the nation's job losses over the recession.

Ken Simonson, chief economist at Associated General Contractors, a trade group, said Monday that $50 billion in government transportation spending could yield 1 million jobs or more — half in construction and related manufacturing and services, such as architectural and engineering, and the other half in supporting businesses.

"Investment in infrastructure has been a very effective form of stimulus," he said of last year's recovery act. "It's kept a lot more construction workers on the job than had it not passed."

Few experts are hopeful about the administration's chances of making a significant improvement in the short term.

"There's nothing that can be done to make a material difference before the elections in November," said Jim Kessler, vice president for policy at Third Way, a moderate Democratic think tank in Washington.

Still, Kessler viewed Obama's new measures as an important political move. "He has to show he's focused like a laser beam on the economy and that he has a plan for getting the country moving toward economic growth.""



The thread title is highly misleading. Both of you would be able to offer more insightful comments if you actually read the fucking article.



'Anarchists for Obama' has a weird ring to it.

Do you have to be such a child?

[Barry Lyndon]

Do you have to be such a child?

Do you have to be such a liberal?

[Barry Lyndon]

Virtually all of this focuses on a large upcoming public works program. That's actually a very good idea. My biggest objection, offhand, is that this plan isn't big enough. We need something more on the scale of the New Deal. This would actually help out the working class instead of paying off the gambling debts of a number of lazy, uncompetitive firms so they can go back to the casino. Construction has been hit particularly hard. This is exactly what the government should be doing during hard times like these, infrastructure and public works projects to create jobs and bring up the poor and middle class, as opposed to the Republican plan to slash social programs which will just make it worse.

I did read the article. The problem is that you are riding Obama's dick. After all of Obama's broken promises, his betrayal of health care reform, his continuations of Bush's wars, his refusal to take action on global warming, etc, your actually taking this shit at face value? He had TWO YEARS to do it, and now he's obviously making this announcement to shore up his falling poll numbers with midterm elections only 2 months off.
As for your masturbating over the New Deal- that only happened because back then there was a real labor movement and a radical Left putting pressure on the Democrats to act. No such political force exists in the US now, it aint gonna happen.
And what kind of anarchist talks about what the capitalist state should do? It will do what capitalist states do-fucking the working class in the ass. The purpose of leftists is to fight to prevent that, not to advise the capitalist state on the best way to go about it.

[Rusty Shackleford]

shit, i was expecting to come in here and not see someone defend obama. :rolleyes:


obama can implement all the social programs he wants, its still all geared towards preserving capitalism and bourgeois state power.

the fascists in italy begam implementing kkkeyn$ian(see what i did there) policies in the 30s.

during the 20s, it was lasseiz faire capitalism that was favored by the fascists.

[NGNM85]

I did read the article.

Then you really had nothing valuable to say.


The problem is that you are riding Obama's dick.

That's not even remotely accurate.


After all of Obama's broken promises, his betrayal of health care reform,

It wasn't just his fault. All of the American left, myself included, (And you.) have to share the blame, as well.


his continuations of Bush's wars, his refusal to take action on global warming, etc, your actually taking this shit at face value?

I'm not 'taking anything at face value.' I'm evaluating two pending pieces of legislation.


He had TWO YEARS to do it, and now he's obviously making this announcement to shore up his falling poll numbers with midterm elections only 2 months off.

That's definitely a factor. However, I'm much more interested in the legislation, itself, and how it's going to affect the millions of people in this country who are hanging on by a thread.


As for your masturbating over the New Deal

Again, this is a gross exaggeration. the New Deal improved the lives and living conditions for many Americans. I consider that a good thing.


- that only happened because back then there was a real labor movement and a radical Left putting pressure on the Democrats to act. No such political force exists in the US now, it aint gonna happen.

If that's the case it's our fault.


And what kind of anarchist talks about what the capitalist state should do? It will do what capitalist states do-fucking the working class in the ass. The purpose of leftists is to fight to prevent that, not to advise the capitalist state on the best way to go about it.

The objective of the Left should be to create a more equitable, free, and democratic society. This perspective is a ridiculous oversimplification. By this thinking you should be championing the Republican endeavors to dismantle the EPA, Social Security, Welfare, and virtually every other social welfare or regulatory agency. It would drastically reduce the government. Except that's stupid because that just hurts people, especially poor people, which should matter. Interacting with the state doesn't mean you have to concede that the state is a legitimate institution.

Now, there are two pending bills which are both anemic, at best. One is the tax break for American businesses (This doesn't apply for the local mom 'n pop operations.) which isn't a tax cut. When businesses expand their operation and invest in new equipment and machines and so forth, you can write that off over a period of years. This bill would allow American business that expand this year to get the tax break all at once, this year. The business community is generally opposed to this legislation because it isn't actually a tax cut, and it's being paid for by closing other loopholes. However, it probably will have a fairly minimal, and short-term effect.

The more interesting idea is the 50 billion in infrastructure projects is more interesting. The right is screaming for deficit reduction and slashing spending, that's what you do if you want to extend the recession. (And, thus, cause even more harm to the working class.) This is predictable behavior, the republicans spend money like a 16-year-old girl with her daddy's charge card, then they suddenly become deficit hawks. This behavior is not new, the rhetoric is exceedingly transparent. Anyhow, in times like this the government becomes the employer of last resort. If this bill passes it will probably create about a million jobs. That's definitely positive, except most of the jobs are probably going to be temporary, and we have at least around 14 million unemployed. Like, I said, this plan is too small. the New Deal, adjusted for inflation, would be over a trillion dollars. So, it's too small, and it doesn't fix any of the fundamental problems. That doesn't mean I'm against creating a million jobs in the short term.

[NGNM85]

shit, i was expecting to come in here and not see someone defend obama. :rolleyes:

That bears no resemblance to what I said. That you're hearing that is psychologically interesting, but that's not my responsibility.