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Obama To Push Jobs ‘Tax Credit’ Again

From a highly skeptical (about any tax credit) Associated Press:

PROMISES, PROMISES: Obama revives jobs tax credit

By Stephen Ohlemacher, Associated Press Writer Tue Jan 26

WASHINGTON – President Barack Obama’s push to create jobs includes a new tax credit for small businesses that add employees, an idea that has appeal as the nation struggles with an unemployment rate topping 10 percent.

It is an idea, however, that fell flat in Congress when Obama first proposed it last year because lawmakers didn’t know how to target the credit effectively. The Obama administration still hasn’t provided details on how the tax credit would work, and some tax experts question whether it would

Isn’t all of this skepticism somewhat hilarious, in that tax credits have worked each and every time they have been tried?

If they are so dodgy, why did Congress just unanimously pass a tax credit for donations to Haiti?

Congressional researchers say a tax credit for firms that increase payroll could be a good way to increase employment, if the credit is available to all companies, not just small businesses. They cautioned, however, that it would be difficult to administer.

Among the issues raised by tax experts:

— How would the government prevent abuse by companies that artificially increase payroll?

— How would new companies be treated?

— How would a firm be prevented from disbanding and reopening under another name just to claim the credit?

— How would the government ensure firms add long-term employees when the credit is only for a year or two?

— Would firms be willing to add workers to get a tax credit when consumer demand for their products has not increased? …

Again, where are these kind of questions when there is talk of tax increases? When there a new government programs? Or expansion of old government programs?

But the media, just like the Democrats, have their priorities.

And tax breaks are the polar opposite of what they want.

This article was posted by Steve on Tuesday, January 26th, 2010. Comments are currently closed.

11 Responses to “Obama To Push Jobs ‘Tax Credit’ Again”

  1. Reality Bytes says:

    So, my taxes go up to pay for a tax credit to hire someone who I don’t have work for? Who’s running this show, The Marxx Brothers?

    • tranquil.night says:

      I’m thinking along those lines too. Never trust the language, never trust the peddle. He has a fundamentally different understanding of how economics works and how business should be run. Rahm, Bam and Axe are going to do everything to get us thinking they’re adopting centrist policy. Even if they pass something theoretically useful they’ll rig it to fail (and probably profit from it) so they can claim we’re pragmatically wrong.

    • proreason says:

      He gave us the Rosetta stone during the campaign.

      He was asked by one of his sychophants in the press about reducing or even just maintaining the capital gains tax. When rebuffed, the sychophant followed up by pointing out that there is evidence that reducing the capital gains tax actually increases tax revenues, since investors sell when taxes are low. The tax revenue alway increases, even though the % is lower.

      Obamy’s response was “It’s not a question of revenue. It’s a question of fairness”. In other words, his goal is not a good economy, it’s not maximizing tax revenues, it’s not even growing government,……it’s redistributing the country’s wealth……to be “fair”.

    • Freedom615 says:

      Hey there RB, I didn’t know Karl WAS one of the Marx Brothers, but I’ll take your word for it!

  2. proreason says:

    “How would the government prevent abuse by companies that artificially increase payroll? ”

    At last, we have found something that little Timmy can handle !! He has tons of experience with tax abuse.

  3. NoNeoCommies says:

    OK, so I can be anal:
    Pedal – To use pedals or operate a bicycle or similar conveyance
    Peddle – To attempt to sell merchandise, services, or ideas

  4. proreason says:

    Couple of interesting developments re the new “Lying Dogs” strategy today.

    1. The Moron proposes a Spending Freeze, but it is sure to be defeated or drastically altered by Congress. This allows him to get credit for “fiscal restraint” (HA HA) even though nothing will happen. If even one Republican votes against it, they will be tarred forever. Also, the looniest of the loons hate even the concept of a spending freeze. They say it is a admission of defeat. The Keystone Kids in the WH either miscalculated or they have their leftist minions covering their flank.

    2. The “Budget Commission”, which was the dim bulb scheme to increase taxes, was defeated in the Senate a couple of hours ago. The timing has to be deliberate. Obviously, the Dims could have postponed a vote if they had wanted to. So we will certainly hear tomorrow (for those of you who can listen to him without retching) how the Republicans are the party of no and have used their vast powers to thrwart the god man.

    These are pretty weak ploys, hardly worthy of even an adolescent king.

    Things are going pretty well for our side.

    • tranquil.night says:

      “They like the president, and that’s all that counts.” – Rahm

      It remains to be seen, the fringe is crying very hard over the dying dreams of this administration.

      Obama will now either be remembered as the greatest failure to all of the Left’s aspirations, or the greatest failure of an American President that may well be facing even less time on the throne than one term if he persists with the fundamental ‘change’.

      It’ll be interesting to see what grappling with that choice is going to result in tomorrow night. Either way the hyper-inflated ego clearly cannot take it.

  5. Liberals Demise says:

    I, for one, don’t believe you Mr. president and I’m calling you a liar.
    Your track record sucks and you should be replaced as the boy who places the cups for the waterboy to fill. (you’d screw that up too)

    THIS ….is how I feel.
    No disrespect to you, Steve. I love this site!!

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