Obama cant wait to let the cat out of the bag!

[mojack]

I have to agree. Most companies have been sucking wind since 2009. 2008 was a record year for most compaines. I look at it like this: Lets say the gov gives a small business ( which I own) a tax break, I may be able to grow some and hire lets say 10 more employees. Now the gov gives a large business, lets say Exxon, a tax break, they are likely to hire 1000 more people. Even though I dont like it, the large companies need the tax breaks to help the American people. Sure they make "Billions" but they spend "Billions" and employee 1000's.

If you take from the rich, everyone will be poor!

I've had small businesses and felt the effects since 2002. A stimulus was created back then to get people spending money again after 9/11. ONE INSTANCE: Interest rates were lowered and qualifying systems were not as strict which allowed a person to buy a new car cheaper and quicker than a used car. That's great for the buyer but a number of used car dealerships (small businesses) folded. They couldn't compete with the larger dealers. Jobs were lost etc...

Mojack! You changed your avatar? Yes, much smarter, the next president needs to know how to at least balance a checkbook. And understand that being in the RED means very bad!

Yes, getting ready to change my address

[DinarSeeker]

I've had small businesses and felt the effects since 2002. A stimulus was created back then to get people spending money again after 9/11. ONE INSTANCE: Interest rates were lowered and qualifying systems were not as strict which allowed a person to buy a new car cheaper and quicker than a used car. That's great for the buyer but a number of used car dealerships (small businesses) folded. They couldn't compete with the larger dealers. Jobs were lost etc...

Yes, getting ready to change my address

Good for you sir! I'm right behind you!

[fastarnie]

I was done getting upset about all this a year ago:D . Iraqis are just as slow as the camels they still use. Now I just like to surf it out for our members looking for good clues and tidbits. I have my plan, and I believe in this more everyday. Thanks for the plus;)

Couldnt agree more! Thank you for opening my point up on this article:D :D

I was talking about the person who gave you a neg

[BigKahuna]

I have to agree. Most companies have been sucking wind since 2009. 2008 was a record year for most compaines. I look at it like this: Lets say the gov gives a small business ( which I own) a tax break, I may be able to grow some and hire lets say 10 more employees. Now the gov gives a large business, lets say Exxon, a tax break, they are likely to hire 1000 more people. Even though I dont like it, the large companies need the tax breaks to help the American people. Sure they make "Billions" but they spend "Billions" and employee 1000's.

If you take from the rich, everyone will be poor!

[detroitjazzman]

I have to agree. Most companies have been sucking wind since 2009. 2008 was a record year for most compaines. I look at it like this: Lets say the gov gives a small business ( which I own) a tax break, I may be able to grow some and hire lets say 10 more employees. Now the gov gives a large business, lets say Exxon, a tax break, they are likely to hire 1000 more people. Even though I dont like it, the large companies need the tax breaks to help the American people. Sure they make "Billions" but they spend "Billions" and employee 1000's.

If you take from the rich, everyone will be poor!

How do you account for someone like Warren Buffett who insist that the Rich grossly under pay taxes and avail themselves of tax loopholes to effectively as Mr. Buffett points out; pay less taxes than thesecretary!

[learning all i can]

Yes, But I think you missed the point of this article..... Republicans will never let obama tax corps or raise taxes. We know this to be true because of the debt ceiling debate that went to the 12th hour. So it is all overblown conjecture to appease party lines. Yes, they may tax the foriegn currency holders more, and that we will have to accept. Hopefully, it will be fair. We will not know that until it happens.

But let me ask you this....... is it fair that not every person knows about this investment? Thats a pretty liberal view to have. Your saying that we must all be equal as investors? that we must all take dinar investment courses, so we all make, lose, or have to pay in the same amount? no no no.

If you do not try to protect your assests...... you get what you deserve. I mean, why dont you just give it all to Obama then just to help out his spending habits? Dont get me wrong, I want to be in control of my own finances to give it out to whom I see fit when I see fit. Not to that joker;)

sorry, but I think you miss read my post. Yes, if you can protect yourself,then by all means do so....My point was that Obama basically wants all the rich to carry all the burden of the lower income as well as middle class....don't get me wrong, I, personaly am in a position financially that I have never been in, in all my life. Money is just not going as far as it use to and I like many Americans have had to cut wayyyyyy back. I personally feel that there are many rich out there that has worked maybe harder than I have, maybe saved more than I did and perhaps were much higher educated than myself. Even with this being said, I still don't feel THE RICH or the ELITE should be the ones to carry and solve America's debt problems....In your post you said obama didn't tell us how he was going to pay for additional $$$$'s that he wants to spend. I in return said yes he did.....He wants the $$$$'s to come from the rich.

forgive me if I have offended you or your post as that was not my intention. I personally do not believe that obama has anything to do with the rv and that is not part of his plan for paying for his wreckless spending

[jakedog]

DinarSeeker ,, I have to give you a +1 on that last statement ,, SO SO TRUE !!!!!!

[BigKahuna]

You are all nuts! After 10 years of the Bush tax cuts...were are we? Hign unemployment! Do you know why? The super rich are spending on themselves, they are not "stimulating the economy"! Unless you count extra gardeners, maids, you know pee-on workers. They are buying more stuff so the sales girl can keep her job...bless their hearts! Listen to Warren Buffett, he said he is paying LESS taxes than his cleaning lady! Come on folks. Corporations DON'T pay taxes! I know I'm a corporate CPA. I pay more % of taxes on my $215,000 salary than the corporations making 1.2 million in profits because there are so many loop holes to hide corporate profits. I know because that is my job to find them.

You have to know how to play the game or you will go through your investment in two years. This is true statics, people who live from paycheck to paycheck will go threw their investments between two to five years. They will be right where they are right now, always waiting for that BIG break to get them out of their problems. A very rich man gave me the best advice, "If you want to live like a republican, you have to vote like a democrat". OK let the bashing begin!!

[Redwizard]

I see most of you guys may have watched the speech but didn’t hear it. Perhaps too busy criticizing every word.

Watch and listen to Boehner and Cantor over the next few days. Don’t listen to the spins of Fox or any other media.

In short: How would it be paid for:

1.) Obama stated that the American Jobs Act would inspire the private sector; meaning private small business owners (people with money) by giving them tax advantages to create jobs. That’s not raising taxes!

2.) They’ve already agreed on over 1 Trillion dollars in cuts from the Debt Ceiling Agreement. He’s asking congress and team of 12 to cut another 447B and apply to the American Jobs Act! Therefore, it will be paid for with money that’s already being spent.

We've got to be smarter.

"People with money?"

He has destroyed small business! We have no more money! Small Business wont see a dime of help, belive me.

Mojack, your right, when you help the big guys get bigger, they usaully destroy the small guys.

[DinarSeeker]

How do you account for someone like Warren Buffett who insist that the Rich grossly under pay taxes and avail themselves of tax loopholes to effectively as Mr. Buffett points out; pay less taxes than thesecretary!

Can I chime in please?

My opinion of course. Warren Buffet has always shown signs of provacative leadership. In this case, leadership that was intended to orchastrate an economic turn using other businessmen and women alike . A rallying of the troops if you will to jumpstart the economy. He knows that all of his businesses need buyers, folks with money to spend. He also knows that without buyers his profit shrinks, or evaporates, and his business suffer at worse report losses. Eventually all will retract and layoff workers. Where and how can he fix his problem? oh yes.... offer up more taxes. The government gets more money to spend and create its jobs that it advertises, and he gets a much better tax break next year. Maybe.... showing this kind of leadership in these times would put more lobbist in his corner to help him on matters that he needs attention on.

Rich folks are rich for a reason, they cant part with thier money. Hes not parting from any money by offering up the way he did. All strategy in a days work in the life of Warren Buffet;)

[DinarSeeker]

sorry, but I think you miss read my post. Yes, if you can protect yourself,then by all means do so....My point was that Obama basically wants all the rich to carry all the burden of the lower income as well as middle class....don't get me wrong, I, personaly am in a position financially that I have never been in, in all my life. Money is just not going as far as it use to and I like many Americans have had to cut wayyyyyy back. I personally feel that there are many rich out there that has worked maybe harder than I have, maybe saved more than I did and perhaps were much higher educated than myself. Even with this being said, I still don't feel THE RICH or the ELITE should be the ones to carry and solve America's debt problems....In your post you said obama didn't tell us how he was going to pay for additional $$'s that he wants to spend. I in return said yes he did.....He wants the $$'s to come from the rich.

forgive me if I have offended you or your post as that was not my intention. I personally do not believe that obama has anything to do with the rv and that is not part of his plan for paying for his wreckless spending

You have not offended me my friend. Just casual debate. Thank you for stating your intention as I did not interpet it the way you intended. I do agree with what you posted. and since we are coming clean,,,,,, I assumed you gave me the -1 as your post came in lightning speed first and the red showed up. You know what assume means...... Sorry bout that:P Your not alone with your finances, we are all here for the same reason:D Hang in there!

[Redwizard]

You are all nuts! After 10 years of the Bush tax cuts...were are we? Hign unemployment! Do you know why? The super rich are spending on themselves, they are not "stimulating the economy"! Unless you count extra gardeners, maids, you know pee-on workers. They are buying more stuff so the sales girl can keep her job...bless their hearts! Listen to Warren Buffett, he said he is paying LESS taxes than his cleaning lady! Come on folks. Corporations DON'T pay taxes! I know I'm a corporate CPA. I pay more % of taxes on my $215,000 salary than the corporations making 1.2 million in profits because there are so many loop holes to hide corporate profits. I know because that is my job to find them.

You have to know how to play the game or you will go through your investment in two years. This is true statics, people who live from paycheck to paycheck will go threw their investments between two to five years. They will be right where they are right now, always waiting for that BIG break to get them out of their problems. A very rich man gave me the best advice, "If you want to live like a republican, you have to vote like a democrat". OK let the bashing begin!!

No bashing from me....

Let the super rich spend on themselves. It is there money, not my concerns. You as a corp CPA know that there is many loop holes, but there is loop holes for everyone. Why raise tax anyway? Why dont we just stop spending? You stated that you make $215K, I bet you dont spend $400K a year. You live with in your means. Just like most Americans. As a business owner, as business has dropped, so has spending. Buy just want we need, no more no less. Last month during the Debt Ceiling, O donated 1.2 Billion to the research of Malaria in Kenya.... WTF.... the same week he sold the stock that the Gov held in Chyrsler (from the bailout) to Fiat and lost 1.2 Billion in the sell.

Forget taxing, tighten up the belt and quit spending!!!

[armondtoth]

A problem with raising taxes on the rich is the fact that the rich would have otherwise have used the money to either buy stuff or invest with.

In the buying stuff they support manufacturing, jobs, and stores and jobs occurring in stores, and the trucking industry, too. If the government gets the money it is removed from helping the country whatsoever. The country becomes in a far worse way. So the whole idea of excessively taxing the rich could not be more stupid.

While I agree that the rich should not be taxed more just because the have a higher income, I do believe they need to stop giving the big corporations these huge tax breaks. It doesn't do any good because in order for a company to hire more people there has to be people to to buy the end product, and if there is no one then they are not going to hire its like pissing money away. If they really want to make a change lets start buy telling all these big corporations that have shifted jobs overseas that they need to manufacture at least 50% of there product in the U.S otherwise we will raise the tariff on there goods so high it will be cheaper to manufacture here.

[Caye98]

Ouch, thanks for the -1

Just reporting to our friendly clan from a respected news media. This is good news when it is stated like that! Also spend a few bucks on VIP and learn how to protect your $. Maybe you wouldnt be so angry:D Good Luck!

Agreed DS...O did not say where the money comes from, other than yet undisclosed cuts. Others' have posted we have agreed upon $1B of cuts, but we have not, only to TRY and find them, OR cut from programs Dem's want cuts in anyway (what do you think will happen?)...the excitement he is going to (try) create in the private sector will not be enough for employers to justify new employees with the overall costs they face and the uncertain future.

Warren Buffett? The same guy who's Berrlkshire Hathaway owes unpaid taxes going back to 2002? http://www.theblaze....xes-since-2002/ , http://www.huffingto...y_n_941099.html

For me, I'll tithe where I deem appropriate, and support the people, workers, and causes in my community out of MY earnings and smart investments (based upon MY risk).

I will say I was glad to hear O say "One nation under God", and "God bless the United States of America". Those are the best things I heard him say.

[DinarSeeker]

You are all nuts! After 10 years of the Bush tax cuts...were are we? Hign unemployment! Do you know why? The super rich are spending on themselves, they are not "stimulating the economy"! Unless you count extra gardeners, maids, you know pee-on workers. They are buying more stuff so the sales girl can keep her job...bless their hearts! Listen to Warren Buffett, he said he is paying LESS taxes than his cleaning lady! Come on folks. Corporations DON'T pay taxes! I know I'm a corporate CPA. I pay more % of taxes on my $215,000 salary than the corporations making 1.2 million in profits because there are so many loop holes to hide corporate profits. I know because that is my job to find them.

You have to know how to play the game or you will go through your investment in two years. This is true statics, people who live from paycheck to paycheck will go threw their investments between two to five years. They will be right where they are right now, always waiting for that BIG break to get them out of their problems. A very rich man gave me the best advice, "If you want to live like a republican, you have to vote like a democrat". OK let the bashing begin!!

I am honored that you decided to open the gates here with your first..... and second post:D Welcome aboard. I bet you have been following for a long time, watching, and waiting.

Pan up a little and let me know what you think of my warren buffet post, Im sure im not to far off on that:) . I must concede though, that jr did do some wild west stuff that seemed a little to much. He overstimulated much of everthing. You know that saying.... a little goes a long way, well he missed that one. I truely believe that he and Cheney were expecting the Rv to happen before his term ended. What would be the point to say that the war would pay for itself with no explanation that followed. This whole dinar plan was put into effect under his watch, which included the WMD plot. I believe that china was showing signs of economic anarchy even in the nineties. This became a game of control, and deflating our dollar was the only way we could calm the chinese down. This ultimately started the currency war to even out the trade deficits we ran with them . They issued thier ultimatums, relenquish the reserve currency status and we will not implode your system by selling our bonds. The only tool the US has that i can see was monetary devaluation. So here it is. The US says, if the ship is going to sink, then all of you pegged to us, will sink with us. China officially unpegs the Reminbi in 2005, I see a pattern emerging, do you?

So, there is always a mechanism to start the gears rolling. Enter subprime mortgages. Our govt folk are not idiots, they knew, and had been reporting every subsequent year since the ninties that the middle class had over extended credit, and were borrowing on max capacity. The question is, how do you fix it..... in this case, it was the bubbles. This was a classic run up the charge card before you file trick. How long can families exisist on charge card living? The truth is, the economy overstimulated by overbuilding homes. NEw home construction is one of the best barometers an economy can have and it was to late when the reins were pulled back. The barometer was now unreadable. Enter Barack Obama.

If you read back to 2008, economist were eager to offer up thier version of the well to do economy but in fact, the subprime market was coming unhinged at that time. I remember reading one article that the writer stated " it would be impossible for the housing market to take down our economy single handedly. Several unprecedented things would need to take place first which would include the demise of the banking sector, and that will never happen". I guess he was wrong.

So here we are today, most folks can hardly manage thier famlies let alone large sums of money they have never had or encountered. You are probably correct with your numbers and thier fallout losses. But lets face it, if you have never had money, how do you know how to manage it so you will have more in the future. Folks just dont think like that, and if they do, they will sucuumb to it eventually. They will buy everything they have always wanted right away. Quite thier jobs, go onthier trips, ect. But dont you think, that is part of this equation too? Think of how much money will freeup on the banks balance sheets in one month. Factor in the fractional banking from the deposits, more loans can be made. Cars, boats, campers, and all the fun stuff will be purchased thus making the jumpstart needed to get the economy going again. You are correct by saying they will lose thier financial worth too, but you can see where im heading with this. Warren Buffets statements are not far from what I am trying to say here. He only wants what everyone that has money to spend could want. And that is the elusive buyers. Something Warren knows alot about. I could keep going, but i will end it. Sorry to get off track:D.

Thanks for your post.

sorry for the spelling errors, my sp checks not working.

Agreed DS...O did not say where the money comes from, other than yet undisclosed cuts. Others' have posted we have agreed upon $1B of cuts, but we have not, only to TRY and find them, OR cut from programs Dem's want cuts in anyway (what do you think will happen?)...the excitement he is going to (try) create in the private sector will not be enough for employers to justify new employees with the overall costs they face and the uncertain future.

Warren Buffett? The same guy who's Berrlkshire Hathaway owes unpaid taxes going back to 2002? http://www.theblaze....xes-since-2002/ , http://www.huffingto...y_n_941099.html

For me, I'll tithe where I deem appropriate, and support the people, workers, and causes in my community out of MY earnings and smart investments (based upon MY risk).

I will say I was glad to hear O say "One nation under God", and "God bless the United States of America". Those are the best things I heard him say.

thanks for the post, I think you have a good point on the job creation. Amen on the last part. You can never praise God enough!

[Francie26]

How do you account for someone like Warren Buffett who insist that the Rich grossly under pay taxes and avail themselves of tax loopholes to effectively as Mr. Buffett points out; pay less taxes than thesecretary!

Buffet is wrong. He is comparing apples and oranges. He is paying corporate income taxes, which are a a lower rate than his secretary's taxes, since her taxes are presonal income taxes. Several money managers are up in arms about what Buffet said since it is just not true, and he is bssically lying to people like us.

[detroitjazzman]

I read these post and have to ask the question.....Are we talking about raising taxes on the rich? I personaly believe what should be happening should be the closing of some loopholes. perhaps if you read the bloomberg report from last year, (enclosed in case you missed it) you might be asking yourself..... why do we continue to allow these big loopholes?,..... so corp. execs. can award themselves HUGE bonuses ?.......60,000,000,000 lost to loopholes.....hmmmmmmm.......I could be wrong....but read it for yourselves... http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html

Edited September 9, 2011 by detroitjazzman

[Bambino3]

And whose philosophy was it to allow the less fortunate to be able to own homes over their head? Enter Barney Frank - who then fought all over-sights into Freddie and Fanny Mac. However, that being said, there are no good guys here. The simple formula of 20% down on a mortgage like the older of us had to live by would have eliminated the problem because if you put down 40K on your 200K home, which then falls in value to 100, chances are you are going to tough it out. It is like a stock. You only have a loss when you sell. But, if your investment is zero, see ya later Freddie.

[dinarcimi]

Posted Today, 09:08 AM

A little later on in the speech he said that with the money saved from the recent budget cuts and asking Congress to dig a little deeper in the budget for the money to pay for this. He then said something to the effect of having a new budget plan that was based on things that both the Dems and Reps can agree on. Also he said pass this bill 15 times in the 34 minute speech. At least that's what I counted.

( And here’s the other thing I want the American people to know: the American Jobs Act will not add to the deficit. It will be paid for. And here’s how: The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I’m asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I’ll be releasing a more ambitious deficit plan – a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.

This approach is basically the one I’ve been advocating for months. In addition to the trillion dollars of spending cuts I’ve already signed into law, it’s a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share. What’s more, the spending cuts wouldn’t happen so abruptly that they’d be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away. )

Read more: http://www.tauntonga...h#ixzz1XTJL3Qzx

It sounds like he is using this Job Bill to get what he wanted out of the Budget cuts IMO.

Read more:

[Verified Dinar Investor]

Posted Today, 09:22 AM

Here is the official WH fact sheet.

The White House

Office of the Press Secretary

For Immediate Release

September 08, 2011

Fact Sheet: The American Jobs Act

THE AMERICAN JOBS ACT

1. Tax Cuts to Help America’s Small Businesses Hire and Grow

Cutting the payroll tax in half for 98 percent of businesses: The President’s plan will cut in half the taxes paid by businesses on their first $5 million in payroll, targeting the benefit to the 98 percent of firms that have payroll below this threshold.

A complete payroll tax holiday for added workers or increased wages: The President’s plan will completely eliminate payroll taxes for firms that increase their payroll by adding new workers or increasing the wages of their current worker (the benefit is capped at the first $50 million in payroll increases).

Extending 100% expensing into 2012: This continues an effective incentive for new investment.

Reforms and regulatory reductions to help entrepreneurs and small businesses access capital.

2. Putting Workers Back on the Job While Rebuilding and Modernizing America

A “Returning Heroes” hiring tax credit for veterans: This provides tax credits from $5,600 to $9,600 to encourage the hiring of unemployed veterans.

Preventing up to 280,000 teacher layoffs,while keeping cops and firefighters on the job.

Modernizing at least 35,000 public schools across the country,supporting new science labs, Internet-ready classrooms and renovations at schools across the country, in rural and urban areas.

Immediate investments in infrastructure and a bipartisan National Infrastructure Bank, modernizing our roads, rail, airports and waterways while putting hundreds of thousands of workers back on the job.

A New “Project Rebuild”, which will put people to work rehabilitating homes, businesses and communities, leveraging private capital and scaling land banks and other public-private collaborations.

Expanding access to high-speed wireless as part of a plan for freeing up the nation’s spectrum.

3. Pathways Back to Work for Americans Looking for Jobs.

The most innovative reform to the unemployment insurance program in 40 years: As part of an extension of unemployment insurance to prevent 5 million Americans looking for work from losing their benefits, the President’s plan includes innovative work-based reforms to prevent layoffs and give states greater flexibility to use UI funds to best support job-seekers, including:

Work-Sharing: UI for workers whose employers choose work-sharing over layoffs.

A new “Bridge to Work” program: The plan builds on and improves innovative state programs where those displacedtake temporary, voluntary work or pursue on-the-job training.

Innovative entrepreneurship and wage insurance programs: States will also be empowered to implement wage insurance to help reemploy older workers and programs that make it easier for unemployed workers to start their own businesses.

A $4,000 tax credit to employers for hiring long-term unemployed workers.

Prohibiting employers from discriminating against unemployed workers when hiring.

Expanding job opportunities for low-income youth and adults through a fund for successful approaches for subsidized employment, innovative training programs and summer/year-round jobs for youth.

4. Tax Relief for Every American Worker and Family

Cutting payroll taxes in half for 160 million workers next year: The President’s plan will expand the payroll tax cut passed last year to cut workers payroll taxes in half in 2012 – providing a $1,500 tax cut to the typical American family, without negatively impacting the Social Security Trust Fund.

Allowing more Americans to refinance their mortgages at today’s near 4 percent interest rates, which can put more than $2,000 a year in a family’s pocket.

5. Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.

AMERICAN JOBS ACT OVERVIEW

The American people understand that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security of the middle class has been under attack for decades. That’s why President Obama believes we need to do more than just recover from this economic crisis – we need to rebuild the economy the American way, based on balance, fairness, and the same set of rules for everyone from Wall Street to Main Street. We can work together to create the jobs of the future by helping small business entrepreneurs, by investing in education, and by making things the world buys. The President understands that to restore an American economy that’s built to last we cannot afford to outsource American jobs and encourage reckless financial deals that put middle class security at risk.

To create jobs, the President unveiled the American Jobs Act – nearly all of which is made up of ideas that have been supported by both Democrats and Republicans, and that Congress should pass right away to get the economy moving now. The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans. And it would do so without adding a dime to the deficit.

Tax Cuts to Help America’s Small Businesses Hire and Grow

New Tax Cuts to Businesses to support Hiring and Investment:The President is proposing three tax cuts to provide immediate incentives to hire and invest:

Cutting the Payroll Tax Cut in Half for the First $5 Million in Wages:This provision would cut the payroll tax in half to 3.1% for employers on the first $5 million in wages, providing broad tax relief to all businesses but targeting it to the 98 percent of firms with wages below this level.

Temporarily Eliminating Employer Payroll Taxes on Wages for New Workers or Raises for Existing Workers:The President is proposing a full holiday on the 6.2% payroll tax firms pay for any growth in their payroll up to $50 million above the prior year, whether driven by new hires, increased wages or both. This is the kind of job creation measure that CBO has called the most effective of all tax cuts in supporting employment.

Extending 100% Expensing into 2012:The President is proposing to extend 100 percent expensing, the largest temporary investment incentive in history, allowing all firms – large and small – to take an immediate deduction on investments in new plants and equipment.

Helping Entrepreneurs and Small Businesses Access Capital and Grow: The President’s plan includes administrative, regulatory and legislative measures – including those developed and recommended by the President’s Jobs Council – to help small firms start and expand. This includes changing the way the government does business with small firms. The Administration will soon announce a plan to accelerate government payments to small contractors to help put money in their hands faster. The President is also charging his CIO and CTO to, within 90 days, stand up a one-stop, online portal for small businesses to easily access government services. As part of the President’s Startup America initiative, the Administration will work with the SEC to conduct a comprehensive review of securities regulations from the perspective of these small companies to reduce the regulatory burdens on small business capital formation in ways that are consistent with investor protection, including expanding “crowdfunding” opportunities and increasing mini-offerings. Finally, the President’s plan calls for Congress to pass comprehensive patent reform, increase guarantees for bonds to help small businesses compete for infrastructure projects and remove burdensome withholding requirements that keep capital out of the hands of job creators.

Putting Workers Back on the Job While Rebuilding and Modernizing America

Tax Credits and Career Readiness Efforts to support Veterans’ Hiring:The President is proposing a Returning Heroes Tax Credit of up to $5,600 for hiring unemployed veterans who have been looking for a job for more than six months, and a Wounded Warriors Tax Credit of up to $9,600 for hiring unemployed workers with service-connected disabilities who have been looking for a job for more than six months, while creating a new task force to maximize career readiness of servicemembers.

Preventing Layoffs of Teachers, Cops and Firefighters:The President is proposing to invest $35 billion to prevent layoffs of up to 280,000 teachers, while supporting the hiring of tens of thousands more and keeping cops and firefighters on the job. These funds would help states and localities avoid and reverse layoffs now, requiring that funds be drawn down quickly. Under the President’s proposal, $30 billion be directed towards educators and $5 billion would support the hiring and retention of public safety and first responder personnel.

Modernizing Over 35,000 Schools – From Science Labs and Internet-Ready Classrooms to Renovated Facilities:The President is proposing a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools – investments that will create jobs, while improving classrooms and upgrading our schools to meet 21st century needs. This includes a priority for rural schools and dedicated funding for Bureau of Indian Education funded schools. Funds could be used for a range of emergency repair and renovation projects, greening and energy efficiency upgrades, asbestos abatement and removal, and modernization efforts to build new science and computer labs and to upgrade technology in our schools. The President is also proposing a $5 billion investment in modernizing community colleges (including tribal colleges), bolstering their infrastructure in this time of need while ensuring their ability to serve future generations of students and communities.

Making an Immediate Investment in Our Roads, Rails and Airports: The President’s plan includes $50 billion in immediate investments for highways, transit, rail and aviation, helping to modernize an infrastructure that now receives a grade of “D” from the American Society of Civil Engineers and putting hundreds of thousands of construction workers back on the job. The President’s plan includes investments to improve our airports, support NextGen Air Traffic Modernization efforts, and resources for the TIGER and TIFIA programs, which target competitive dollars to innovative multi-modal infrastructure programs. It will also take special steps to enhance infrastructure-related job training opportunities for individuals from underrepresented groups and ensure that small businesses can compete for infrastructure contracts.The President will work administratively to speed infrastructure investment through a recently issued Presidential Memorandum developed with his Jobs Council directingdepartments and agencies to identify high impact, job-creating infrastructure projects that can be expedited in a transparent manner through outstanding review and permitting processes. The call for greater infrastructure investment has been joined by leaders from AFL-CIO President Richard Trumka to U.S. Chamber of Commerce President Thomas Donohue.

Establishing a National Infrastructure Bank:The President is calling for Congress to pass a National Infrastructure Bank capitalized with $10 billion, in order to leverage private and public capital and to invest in a broad range of infrastructure projects of nationaland regional significance, without earmarks or traditional political influence. The Bank would be based on the model Senators Kerry and Hutchison have championed while building on legislation by Senators Rockefeller and Lautenberg and the work of long-time infrastructure bank champions like Rosa DeLauro and the input of the President’s Jobs Council.

Project Rebuild: Putting People Back to Work Rehabilitating Homes, Businesses and Communities. The President is proposing to invest $15 billion in a national effort to put construction workers on the job rehabilitating and refurbishing hundreds of thousands of vacant and foreclosed homes and businesses. Building on proven approaches to stabilizing neighborhoods with high concentrations of foreclosures, Project Rebuild will bring in expertise and capital from the private sector, focus on commercial and residential property improvements, and expand innovative property solutions like land banks. This approach will not only create construction jobs but will help reduce blight and crime and stabilize housing prices in areas hardest hit by the housing crisis.

Expanding Access to High-Speed Wireless in a Fiscally Responsible Way: The President is calling for a deficit reducing plan to deploy high-speed wireless services to at least 98 percent of Americans, including those in more remote rural communities, while freeing up spectrum through incentive auctions, spurring innovation, and creating a nationwide, interoperable wireless network for public safety.

Pathways Back to Work for Americans Looking for Jobs

Reform Our Unemployment Insurance System to Provide Greater Flexibility, While Ensuring 6 Million People Do Not Lose Benefits: Drawing on the best ideas of both parties and the most innovative states, the President is proposing the most sweeping reforms to the unemployment insurance (UI) system in 40 years help those without jobs transition to the workplace. Alongside these reforms, the President is reiterating his call to extend unemployment insurance, preventing 6 million people looking for work from losing their benefits and extending what the independent Congressional Budget Office has determined is the highest “bang for the buck” option to increase economic activity.

Reemployment Assistance: States will be required to design more rigorous reemployment services for the long-term unemployed and to conduct assessments to review the longest-term claimants of UI to assess their eligibility and help them develop a work-search plan. These reforms are proven to speed up UI beneficiaries’ return to work.

Work-sharing:The President will expand “work-sharing” to encourage arrangements using UI that keep employees on the job at reduced hours, rather than laying them off.

State Flexibility for Bold Reforms to Put the Long-Term Unemployed Back To Work:The President is proposing to provide additional funds to allow states to introduce new programs aimed at long-term unemployed workers, including:

“Bridge to Work” Programs:States will be able to put in place reforms that build off what works in programs like Georgia Works or Opportunity North Carolina, while instituting important fixes and reforms that ensure minimum wage and fair labor protections are being enforced. These approaches permits long-term unemployed workers to continue receiving UI while they take temporary, voluntary work or pursue work-based training. The President’s plan requires compliance with applicable minimum wage and other worker rights laws.

Wage Insurance: States will be able to use UI to encourage older, long-term unemployed Americans to return to work in new industries or occupations.

Startup Assistance: States will have flexibility to help long-term unemployed workers create their own jobs by starting their own small businesses.

Other Reemployment Reforms: States will be able to seek waivers from the Secretary of Labor to implement other innovative reforms to connect the long-term unemployed to work opportunities.

Tax Credits for Hiring the Long-Term Unemployed:The President is proposing a tax credit of up to $4,000 for hiring workers who have been looking for a job for over six months.

Investing in Low-Income Youth and Adults: The President is proposing a new Pathways Back to Work Fund to provide hundreds of thousands of low-income youth and adults with opportunities to work and to achieve needed training in growth industries. The Initiative will do three things: i) support summer and year-round jobs for youth, building off of successful programs that supported over 370,000 such jobs in 2009 and 2010; ii) support subsidized employment opportunities for low-income individuals who are unemployed, building off the successful TANF Emergency Contingency Fund wage subsidy program that supported 260,000 jobs in 2009 and 2010; and iii) support promising and innovative local work-based job and training initiatives to place low-income adults and youths in jobs quickly.

Prohibiting Employers from Discriminating Against Unemployed Workers: The President’s plan calls for legislation that would make it unlawful to refuse to hire applicants solely because they are unemployed or to include in a job posting a provision that unemployed persons will not be considered.

More Money in the Pockets of Every American Worker and Family

Cutting Payroll Taxes in Half for 160 Million Workers Next Year: The President’s plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family earning $50,000 a year. As with the payroll tax cut passed in December 2010, the American Jobs Act will specify that Social Security will still receive every dollar it would have gotten otherwise, through a transfer from the General Fund into the Social Security Trust Fund.

Helping More Americans Refinance Mortgages at Today’s Historically Low Interest Rates: The President has instructed his economic team to work with Fannie Mae and Freddie Mac, their regulator the FHFA, major lenders and industry leaders to remove the barriers that exist in the current refinancing program (HARP) to help more borrowers benefit from today’s historically low interest rates. This has the potential to not only help these borrowers, but their communities and the American taxpayer, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac.

Fully Paid for as Part of the President’s Long-Term Deficit Reduction Plan.

To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target. The President will, in the coming days, release a detailed plan that will show how we can do that while achieving the additional deficit reduction necessary to meet the President’s broader goal of stabilizing our debt as a share of the economy.

$, bn

Tax Cuts to Help America’s Small Businesses Hire and Grow

70

Cut employer payroll taxes in half & bonus payroll cut for new jobs/wages

65

Extend 100% expensing in 2012

5

Putting Workers Back on the Job While Rebuilding and Modernizing America

140

Teacher rehiring and first responders

35

Modernizing schools

30

Immediate surface transportation

50

Infrastructure bank

10

Rehabilitation/repurposing of vacant property (neighborhood stabilization)

15

National wireless initiative

0*

Veterans hiring initiative

n.a.

Pathways Back to Work for Americans Looking for Jobs

62

UI Reform and Extension

49

Jobs tax credit for long term unemployed

8

Pathways back to work fund

5

More Money in the Pockets of Every American Worker and Family

175

Cutting employee payroll taxes in half in 2012

175

TOTAL

447

* Proposal has a gross cost of $10bn, but a net deficit reducing impact of $18bn because of spectrum auction proceeds.

http://www.whitehous...erican-jobs-act

Go Iraq! Go Dinarians! Go RV!

Read more:

[Mongo]

OK, I wouldn't ever wish anyone harm...however, if by complete freak circumstance a wild tiger accidentally got into the room with all those politicians tonight...well, chalk it up to Circle of Life!

..............

Yes RedWizard..... hes been saying it since he realized he spent all of our money and he needed more. I get it. However, according to this articlel, he has acknowledged that he will get back to us on how it will be paid for. Its not hard science to figure out that republicans will not let obama tax the rich or corps. If it was so easy, it would be written into law right now. It is his dilusional wet dream. Taxing companies in a recession will stop it all together. Everyone just seems to be getting by right now am I wrong with that assumption?

No

[HawaiianGal]

My score is either going to go way up, or way down on this one!

Wow, where to begin... my response could be pages long. I'll start with this. Who in their right mind thinks that small business owners are rich!?!?! Maybe some of them are, or used to be, but after this economy most of them are hanging on by their shoestrings. They can't afford to give up, because their homes and business are probably tied together. they can't get loans from banks because the banks are hanging onto money for all its worth. Remember all that money that Obama gave the banks to give out as stimulus to get business moving? Never happened. Banks held onto it to keep themselves solvent.

So tell me, what happens to a "rich small business owner" when the markets are drying up because no one has money to spend, gas prices are going up so shipping becomes prohibitively expensive to get materials or ship product? What happens when all over the world the stock markets are crashing? No one buys stuff.

Small business owners are the backbone of the American economy. These are the people who have an idea, and take risks to make for themselves a better life. TAKE RISKS. These people aren't dependent upon someone else for their paycheck, they are making it happen, and they can't get funding. Obama wants to decrease the payroll tax, or give a credit for hiring more workers. I got news for you. A tax credit isn't going to help many of them because they are already operating at a loss! If they need labor, sons and daughters are pitching in to help, it's back to the days of the family farm for small businesses. That means no taxes to begin with. Do you have any idea how much money it takes to start a company? How much it costs to do a marketing campaign? How about buying enough packaging to get a decent bulk rate price? That all takes money -- up front. That takes the money that Obama wants to hit with capital gains, that takes the money that's hit with a higher tax percentage. Lets give all the money to the government shall we? I'd rather put it onto the economy, which is what I'm doing.

Only 3 percent of small business owners would be affected by the tax policy changes, he added, leaving 97 percent who “would not pay a penny more.”

While that's a true statement, I wonder if it captures the effect of higher tax rates on incentives. For those 97 percent of business who aren't profitable enough to be affected this time around, we can all agree they want to be more profitable, and envision their firms being so. The question then, is whether higher tax rates affect their payoffs for making the entrepreneurial commitment? I'd say a failure to extend the current low rates on cap gains and dividends would be central to entrepreneurial concerns. In essence, a successful startup is 100 percent capital gain for the founders.

My link

How do I know this? Because I am a small business owner. Because I have put my savings into a business idea. Because I've tried to get a loan only to be asked how much toothpaste I use a year because the loan officer was asking really stupid and personal questions that had no impact on my need for the money. Because I want to make a difference and be able to hire people. That means my company has to be profitable to begin with.

Here's the second thing that really chapped me. Since when did this investment have to be fair? It's an investment. It's a risk. There is nothing fair about it. We don't even know for sure that it is going to return anything!!! When did this country start being about fair instead of the personal responsibility of working for what you want? I took a RISK on this investment. This is money that I can't be putting into my SMALL BUSINESS right now because it is tied up. I'm NOT rich. All my money is tied up in the SMALL BUSINESS. If you want to grow, you have to have product. You have to have raw materials when they become available. You have to build infrastructure in advance of when you need it, or you fail.

Entrepreneurs are hungry. They have an idea, or a service, or a product that they think will make the world a better place, and this gives them the incentive to take a chance. They have pride in their products. They want to work, and they want to make a better life for their families. More than that they want to make a living. How about even a comfortable living, from their own labor.

*gets off her soapbox*

[Mongo]

This debate shouldn't be over taxes, the root problem and the debate should be over the size of the GOV. Shrink the GOV and most of the tax problems go away...

[RodandStaff]

OK, I wouldn't ever wish anyone harm...however, if by complete freak circumstance a wild tiger accidentally got into the room with all those politicians tonight...well, chalk it up to Circle of Life!

Hey now... the wildlife has got to eat too don't ya know! Happy, you seem to have a knack for summing things up yet still coming across all innocent like, hmmmm... I sense a pattern here!

[Francie26]

Buffet is wrong. He is comparing apples and oranges. He is paying corporate income taxes, which are [at]a a lower rate than his secretary's taxes, while she pays [personal] presonal income taxes. Several money managers are up in arms about what Buffet said since it is just not true, and he is [basically] bssically lying to people like us.

Well, so far as I know, my spell checker works, but I sure dropped the ball on it this time. Sorry about the spelling errors.

[Francie26]

My score is either going to go way up, or way down on this one!

Wow, where to begin... my response could be pages long. I'll start with this. Who in their right mind thinks that small business owners are rich!?!?! Maybe some of them are, or used to be, but after this economy most of them are hanging on by their shoestrings. They can't afford to give up, because their homes and business are probably tied together. they can't get loans from banks because the banks are hanging onto money for all its worth. Remember all that money that Obama gave the banks to give out as stimulus to get business moving? Never happened. Banks held onto it to keep themselves solvent.

So tell me, what happens to a "rich small business owner" when the markets are drying up because no one has money to spend, gas prices are going up so shipping becomes prohibitively expensive to get materials or ship product? What happens when all over the world the stock markets are crashing? No one buys stuff.

Small business owners are the backbone of the American economy. These are the people who have an idea, and take risks to make for themselves a better life. TAKE RISKS. These people aren't dependent upon someone else for their paycheck, they are making it happen, and they can't get funding. Obama wants to decrease the payroll tax, or give a credit for hiring more workers. I got news for you. A tax credit isn't going to help many of them because they are already operating at a loss! If they need labor, sons and daughters are pitching in to help, it's back to the days of the family farm for small businesses. That means no taxes to begin with. Do you have any idea how much money it takes to start a company? How much it costs to do a marketing campaign? How about buying enough packaging to get a decent bulk rate price? That all takes money -- up front. That takes the money that Obama wants to hit with capital gains, that takes the money that's hit with a higher tax percentage. Lets give all the money to the government shall we? I'd rather put it onto the economy, which is what I'm doing.

My link

How do I know this? Because I am a small business owner. Because I have put my savings into a business idea. Because I've tried to get a loan only to be asked how much toothpaste I use a year because the loan officer was asking really stupid and personal questions that had no impact on my need for the money. Because I want to make a difference and be able to hire people. That means my company has to be profitable to begin with.

Here's the second thing that really chapped me. Since when did this investment have to be fair? It's an investment. It's a risk. There is nothing fair about it. We don't even know for sure that it is going to return anything!!! When did this country start being about fair instead of the personal responsibility of working for what you want? I took a RISK on this investment. This is money that I can't be putting into my SMALL BUSINESS right now because it is tied up. I'm NOT rich. All my money is tied up in the SMALL BUSINESS. If you want to grow, you have to have product. You have to have raw materials when they become available. You have to build infrastructure in advance of when you need it, or you fail.

Entrepreneurs are hungry. They have an idea, or a service, or a product that they think will make the world a better place, and this gives them the incentive to take a chance. They have pride in their products. They want to work, and they want to make a better life for their families. More than that they want to make a living. How about even a comfortable living, from their own labor.

*gets off her soapbox*

Soapbox, He!! Sounds to me like this belongs in Sunday sermons all across America and printed on parchment and framed for the president's desk!! You did a truly commendable job of stating the problems of small business in this administration. Our Harvard academic can't figure it out. I'm proud of you for the clarity, thoroughness, and brevity of this email. This President simply has no clue, and he'f vain enough that he won't ask for the truth. He thinks he already has all the answers, so why would he lower himself to ask people who he thinks know less than he does?