Obama's announcement over the weekend

iVillage Member
Registered: 08-14-2010
Obama's announcement over the weekend
9
Tue, 09-07-2010 - 9:31pm

http://finance.yahoo.com/news/Suddenly-a-raft-of-taxbreak-apf-3669524499.html?x=0


"In a speech on Wednesday in Cleveland, Obama will ask Congress to let businesses quickly write off 100 percent of their spending on new plants and equipment through 2011."


This is the first serious proposal coming from the Obama adminstration we've seen yet. It's a bit

iVillage Member
Registered: 01-22-2000
Tue, 09-07-2010 - 10:24pm

I agree that it is promising, and surprising from Obama....but, dont we have a likely false "bump", where companies will make investments in 2011 that might other wise have been in 2012 or 13? Like the housing market where a tax credit was offered...sure, it spurred on home buying...but the months since then have been bad. Or, the cash for clunkers...boom for short period, then depressed.


Just a thought.


Sonny

iVillage Member
Registered: 08-14-2010
Tue, 09-07-2010 - 11:33pm

You're correct, there's a significant 1-time component that will occur much like those other programs. But there's also a long-term component since this applies to heavy equipment and plants/buildings. Those are long-term investments. Once they are built/installed it's hard to close up shop and move so they're likely to

iVillage Member
Registered: 02-28-2010
Wed, 09-08-2010 - 6:11am

Perhaps he's throwing this out, knowing how hypocritical the Republicans are.

iVillage Member
Registered: 01-22-2000
Wed, 09-08-2010 - 6:53am

"What's bad for the country is good for the Republicans"



You know, this statement was being made about 3 and 4 yrs ago all of the time, just with the other party dropped in as the last word. I thought it was silly then, and I think it is silly now...not saying it isnt and wasnt true...by "silly" I mean that if this is the way the game is played, it is silly. I dont know much about the new proposal, I just heard about it yesterday before total_recall posted it here. I wonder if there are other issues tagged to this proposal that the GOPers find distasteful. I simply dont know...but I do know it is time for all in DC to quit playing games and do something real to get the economy rolling.



Sonny

iVillage Member
Registered: 08-14-2010
Wed, 09-08-2010 - 8:24am

As I've mentioned before, it's strategically unwise to allow your opponent to use an arsenal and then leave yourself unarmed.



It's not the republican party that rolled out the ideological warfare methodology so it's a bit late for democrats to complain about it now. If there was a leftover piece of honesty in democratic rhetoric you might have a point, but look at where we are.



Only two short years ago democrats claimed tax cuts 'don't pay for themselves', which was an obvious enough untruth, but there's uneducated

iVillage Member
Registered: 02-28-2010
Wed, 09-08-2010 - 10:16am

This will be fun to watch the Republicans spin themselves around, I got the popcorn and soda.

iVillage Member
Registered: 08-14-2010
Wed, 09-08-2010 - 10:55am
In all the blather I seem to have lost your opinion. Do you think Obama's tax cut is a good idea or a bad one?
iVillage Member
Registered: 02-28-2010
Wed, 09-08-2010 - 11:31am
What do you think?
iVillage Member
Registered: 04-09-2007
Wed, 09-08-2010 - 3:26pm

It's a bit weird to see Republican opposition to this move (since this is actually out of the Republican playbook - only bigger).