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White House offers 'grand bargain' on tax cuts and infrastructure
Gene Sperling, the director of President Barack Obama’s National Economic Council, said Sunday that Obama is offering congressional Republicans “a grand bargain on jobs. He has said he would be willing to do corporate tax reform that lowers rates to 28 percent, simplifies taxes for small businesses, but do it together with a major infrastructure investment.”
In his budget proposal last year, Obama called for $50 billion in additional short-term federal spending on infrastructure projects such as bridges, highways, and mass transit systems, as well as creation of a National Infrastructure Bank to make loans to such projects.
“The economy is improving” and “we’ve had a lot of momentum,” Sperling said on NBC’s Meet the Press, but there are still “people who are desperately looking for work.” He said, “We have to admit – and we do admit -- that the worst legacy of this great recession is the crisis of long-term unemployment.”
How many time over the past 5 decades have committees set forth to 'simplify' the tax code?
Any offer to play with the current tax code is a shell game. No real progress can be made unless the entire tax structure is eliminated and replaced.
Charlie Rangel headed the ways and means committee forever. The labrynth of codes we have today is a result of his leadership and quid pro quo with business and financial industry.
Obama pretends to reduce tax here and simply raises it eleswhere....and his supporters won't be able to see his slight of hand numbers game.
How many time over the past 5 decades have committees set forth to 'simplify' the tax code?
Any offer to play with the current tax code is a shell game. No real progress can be made unless the entire tax structure is eliminated and replaced.
Charlie Rangel headed the ways and means committee forever. The labrynth of codes we have today is a result of his leadership and quid pro quo with business and financial industry.
Obama pretends to reduce tax here and simply raises it eleswhere....and his supporters won't be able to see his slight of hand numbers game.
The dems strategy which dictates your response is based on labels rather than content. With the help of the media, that strategy has worked well for the dems. This way the content becomes irrelevant to the title of the bill or proposal.
If you oppose their proposal named 'tax cut' or 'ppaffordable care act' or law to save speckled puppies, they make the assumption you do not want to save speckled puppies or have a tax cut. The 'logic' than cascades to conclude you have an aversion to specled puppies to the point of 'hate' and of course opposition tot tax cuts means you are greedy and care not for the unwashed.
This ploy is only possible with the gullible and uninformed who make decisions based on marketing hype.
White House offers 'grand bargain' on tax cuts and infrastructure
Gene Sperling, the director of President Barack Obama’s National Economic Council, said Sunday that Obama is offering congressional Republicans “a grand bargain on jobs. He has said he would be willing to do corporate tax reform that lowers rates to 28 percent, simplifies taxes for small businesses, but do it together with a major infrastructure investment.”
In his budget proposal last year, Obama called for $50 billion in additional short-term federal spending on infrastructure projects such as bridges, highways, and mass transit systems, as well as creation of a National Infrastructure Bank to make loans to such projects.
“The economy is improving” and “we’ve had a lot of momentum,” Sperling said on NBC’s Meet the Press, but there are still “people who are desperately looking for work.” He said, “We have to admit – and we do admit -- that the worst legacy of this great recession is the crisis of long-term unemployment.”
Do I even want to know what these cuts are tied to? More spending I'm sure.
Do I even want to know what these cuts are tied to? More spending I'm sure.
Not to mention - isn't a "bargain" something you get after, you know, bargaining?
Is this proposal the result of negotiations between him and Republicans? It doesn't look like it, but I guess that's still "compromising" in lefty world.
will this cut effective corporate taxes, or just the nominal tax rate?
It would cut the rate from 35% to 28%. The effective rate would depend on which deductions apply to any given corporation, and that can only be changed by changing the loop-holes and deductions. The past two times when the cuts have been proposed it included the removal of loopholes as well. I have not seen the details of this one yet, but I assume it is similar.
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More spending I'm sure.