Obama unveils new economic plan

[Viditor]

Originally posted by: miketheidiot

Originally posted by: loki8481

Originally posted by: Capt Caveman
Is it too late to get two new candidates?

sometimes... when no one else is looking... I miss Ron Paul

i still wish wesley clark would have run, hopefully he'll end up in the administration somewhere though.

What do you think...
Sec State - Wesley Clark
Sec Def - Collin Powell
Sec of Homeland Security (or Nat Sec Advisor) - Richard Clarke
Sec Treas. - Warren Buffett
Sec of Energy - Al Gore
Attorney General - Alan Dershowitz

 

[crisscross]

If Obama does win I sure hope he dumps this populist crap and comes up with some realistic plans.

 

[Mani]

Originally posted by: Genx87
Santa Obama is coming to town.

1. Allowing people to cash out of their depleted 401ks. Brilliant!
2. Offering a tax credit of 3K for new hires? Think this is going to really get business to hire people in time of recession? Doubtful but a noble attempt.
3. 90 Day moratorium on foreclosure. Think 90 days is going to make the difference? Dont most state laws usually take 6-12 months before foreclosure can officially happen?
4. I heard he wants to suspend unemployment tax. I didnt quite get if he wants to suspend the payroll tax or just the tax paid on the benefits.

How is all of this going to be paid? With that magical repeal of the bush tax cut on the top 5%? That is a gift that apparently keeps on giving!

So first it's "Obama will raise your taxes"...now it's "Santa Obama" when he offers tax breaks. You guys are a riot.

 

[shira]

Originally posted by: JS80

Originally posted by: Genx87
How is repealing capital gains on investment money revenue neutral?
The 3K per employee can be offset provided they generate 3K in tax revenue. Depends on the position created. My guess is a 3K tax credit may entice low income low skill job creation. It will take some time to generate 3K in taxes on a 8-10 dollar an hour job.
The tax waiver on unemployment benefits. No idea, but not revenue neutral either.

Hire your children, cousins, aunts, uncles, grandparents, get $3k * # of family members, pay them a phantom wage just low enough so no taxes are paid, pocket the $3k * X, give them a $500 bonus for the scam.

You're correct that people can come up with schemes to defraud the IRS. But how is this any different from every other tax break that's subject to fraud? By your reasoning, there shouldn't be a deduction for charitable donations of property, since people can inflate the value of donated goods. There shouldn't be exemptions for dependents, since fraudulent social security numbers can be used to inflate the number of dependents. There shouldn't be a filing status of "married filing jointly," since two single people can arrange a "convenience" marriage between a high and low (or unemployed) wage earner and thereby lower their overall marginal tax rate.

With appropriate safeguards, fraud can be minimized.