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[Pine Mt Beagles]

Obama Calls for Action on Small Business Jobs Bill
Senate Republicans for blocking federal help for small businesses
By Caitlin Huey-Burns

Posted: August 30, 2010
Fresh off his ten-day vacation, President Obama on Monday addressed the most contentious issue of this election season: the economy. Speaking in the Rose Garden, Obama urged Congress to "rise above the politics of the moment" and pass the jobs bill that is currently stalled in the Senate as soon as members return from their recess in September.


Obama faulted Senate Republicans for blocking action on the legislation, the Small Business Jobs and Credit Act, which features tax cuts and incentives for small business. "Holding this bill hostage is directly detrimental to our economic growth," said Obama. "I know we're entering election season. But the people who sent us here expect us to work together to get things done and improve this economy."

Obama said the Senate bill would help small businesses get loans and would encourage investment spending by eliminating capital gains taxes on certain kinds of investments. "There is no reason to block it besides pure partisan politics," said Obama. "Small business owners and the communities that rely on them, they don't have time for political games."

The president met with his economic team on Monday and said his administration is focused on moving the economy forward by extending the Bush-era tax cuts for all but the highest income
earners, and by redoubling investments in clean energy and rebuilding infrastructure. GOP leaders want all the Bush tax cuts extended, including those for households earning more than $250,000 a year, which would add to projected federal deficits.

Economic policy is likely to dominate the political and legislative debates in the run up to the elections, particularly on the question of how to provide additional support to the lagging economy. Most economists agree that the federal stimulus package helped avert a much worse economic downturn, but the large federal deficit is raising questions about the prospects for major additional federal spending or extending all the Bush tax cuts.

Obama's Rose Garden remarks come a week after House Minority Leader Rep. John Boehner of Ohio called for Obama to fire Treasury Secretary Tim Geithner and other members of the president's economic team. "We do not have the luxury of waiting months for the president to pick scapegoats for his failing 'stimulus' policies," Boehner said in a speech to business leaders in Cleveland last week.

[Pine Mt Beagles]

-- Jay Timmons, executive vice president at the National Association of Manufacturers, talks about the outlook for President Barack Obama's tax policy. Timmons speaks with Margaret Brennan on Bloomberg Television's "InBusiness." (Source: Bloomberg)
President Barack Obama wants Congress to extend middle-income tax cuts and would reject Republican efforts to extend tax breaks for the wealthiest Americans, said David Axelrod, a White House senior adviser.

“Our position is clear: We believe that we should get a clean bill that extends the middle-class tax cuts, and that’s it,” Axelrod said in an interview on Bloomberg Television. “I don’t think the president will support anything that doesn’t do that.”

He stopped short of saying the president would veto a bill that included keeping current rates for wealthier taxpayers.

The president will outline his stance in a speech this afternoon in Ohio. His insistence on letting the top tax rates expire at the end of this year sets up an election-year confrontation with Republicans, who are seeking to take control of the House and Senate with campaigns focused on the economy and the federal budget deficit.

AND THIS ,
House Republican Leader John Boehner said today that lawmakers should work with the White House to freeze government spending at 2008 levels and extend the Bush-era tax cuts for everyone for two years.
-HAS ALREADY ADDED BILLION'S OF DEBT TO THE BUDGET----------

[Pine Mt Beagles]

"What Have We Got to Lose?"
House Republicans, eager to shed the Party of No label, recently unveiled an alternative to Obama's 2010 budget. It was the kind of fiasco that shows why Washington thinks Republicans are in trouble — and why they really are in trouble.

The disaster began when GOP leaders, after calling a news conference to blast Obama's numbers, released a budget outline with no numbers — just magic assumptions about "reform." The mockery was instantaneous. Then Republicans began blaming one another for the stunt, which generated only more mockery about circular firing squads. And when they finally released the missing details on April 1, the notion of an April Fools' budget produced even more mockery; the substance was ignored. "The President's dog got more attention," recalls Paul Ryan, the top Republican on the House Budget Committee.

But if you pay attention, the GOP alternative is not just a p.r. disaster. It's a radical document, making Bush's tax cuts permanent while adding about $3 trillion in new tax cuts skewed toward the rich. It would replace almost all the stimulus — including tax cuts for workers as well as spending on schools, infrastructure and clean energy — with a capital gains–tax holiday for investors. Oh, and it would shrink the budget by replacing Medicare with vouchers, turning Medicaid into block grants, means-testing Social Security and freezing everything else except defense and veterans' spending for five years, putting programs for food safety, financial regulation, flu vaccines and every other sacred government cow on the potential chopping block.

[Newt]

Yep, I heard the lieing Kenyan this morning say that he is for a leaner government with individuals keeping what they make. Watch what he does not what he says.
This stimulus bill is to buy votes for the upcoming election. Nothing More.


Rufus, have you noticed the increase in the cost of health insurance since Obama Care was passed.

[2500 HD]

Have you noticed the increase on alot of items since the health care passed??/ If not your nieve!!!!!!!!

[2500 HD]

Watch this
Click on this link !!! > http://d.yimg.com/kq/groups/17260182/16 ... c-vi26.wmv>

[bluemouse]

Pinenut how about stop with the cut and paste crap and tell everybody what you see with your own eyes what obumer has done. Obumer said one year ago that his shovel ready jobs would create thousands of jobs. It did not create jobs the states held on to the money. This new batch of spending will go to the unions and fill their pockets. Point being pinenut do not believe what you read and what a professional liar says. Tell me one Dem that has mentioned health care reform in their election platform for November, tell me how many dems that want to continue spending and keep their jobs. Obumer has not only hoodwinked the American people he has done it to his own party. Obumer says people talk about him like a dog, but truth be told if he was a rabbit hound that lied that much guess what would happen he would get FIRED.

[Rabbithoundjb]

Just another Obama administration scam. If we pass the stimulas unemployment will stay below 8%, an executive order to close gitmo in 1 year, bring the troops from Iraq in 16 months, We know where Bin Laden is and If elected I will go get him, Obamacare will drop the cost of healthcare and so on and on and on. Has this idiot met any time line or kept any promises. NO!!!!!!!!!!!

Obama accomplishments: growing unemployment, food stamps, welfare, foreclosure, homelessness, government, federal budget, national debt, first family travel and first family vacations.

[Pine Mt Beagles]

Small Business Tax Breaks in the Stimulus Package

February 15, 2009
The American Recovery and Reinvestment Act of 2009 contains numerous tax provisions aimed at small businesses.



Bonus depreciation: IRC section 168(k) is amended to extend the 50% first-year bonus depreciation through 2009 (through 2010 for certain transportation property and aircraft).



The election to accelerate AMT and research credits in lieu of taking the bonus depreciation (which had been introduced last year by the Housing Assistance Tax Act, P.L. 110-289) is also extended to qualifying property placed in service through 2009. Special rules apply to taxpayers who had already made this election for property placed in service in 2008.



Section 179 expensing: The increase in the section 179 expensing amount to $250,000 and the increase in the phaseout threshold to $800,000 are both extended through 2009. The amounts had originally been temporarily increased (for 2008) by the Economic Stimulus Act of 2008, P.L. 110-185.



Carryback of small business NOLs: Eligible small businesses are allowed to carry their 2008 net operating losses (NOLs) back for five years (section 172(b)(1)(H)). An eligible small business is one that has average gross receipts of $15 million or less (using the gross receipts test from section 448(c)). The act gives Treasury authority to publish anti-abuse rules relating to this provision.



Small business estimated taxes: Qualified individuals are allowed (for 2009 only) to make estimated tax payments that equal only 90% of their preceding tax year liability instead of 100% (under section 6654(d)(1)). To be a qualified individual, the taxpayer must have adjusted gross income (AGI) of less than $500,000 and more than 50% of the individual’s gross income must come from a small business (a business with an average of fewer than 500 employees).



Work opportunity tax credit: The act creates two new targeted groups for the work opportunity tax credit, “disconnected youth” and unemployed veterans (section 51(d)(14)). Employers who hire members of these groups during 2009 or 2010 may be eligible to take the credit.



Discharge of business indebtedness: The act allows certain businesses to recognize cancellation of indebtedness income over five years, starting in 2014, if the business repurchases specific types of debt in 2009 or 2010 (section 108(i)).



Qualified small business stock: The section 1202 exclusion of gain from the sale of qualified small business stock is increased from 50% to 75%, for stock acquired after the enactment date and before Jan. 1, 2011.



S corporations: The recognition period for assets subject to the built-in gains tax is reduced from 10 years to seven years for S corporation tax years beginning in 2009 and 2010 (Section 1374(d)(7)).



Limitations of loss carryforwards: For businesses that have ownership changes pursuant to a restructuring plan required by a Treasury loan agreement or line of credit under the bailout provisions of the Emergency Economic Stabilization Act, P.L. 110-343, the section 382 limitation on loss carryforwards will not apply.



New markets tax credit: The section 45D new markets tax credit investments limit is increased for 2008 and 2009 to $5 million.



Notice 2008-83 restricted: The act expresses Congress’s doubt about the legal authority of Notice 2008-83 (the “Wells Fargo Ruling”) and states that it is inconsistent with Congressional intent in enacting section 382(m). Therefore, the act restricts the notice’s effect to changes in ownership occurring (or subject to a binding written contract entered into) on or before Jan. 16, 2009. (For more on the questions surrounding Notice 2008-83, see White, “Notice 2008-83: The Ripples Keep Spreading,” Tax Insider (Feb. 2, 2009).)



Energy credits: The act also includes a number of energy incentives aimed at both individuals and businesses, including increases in the section 25C residential energy property credit, the section 25D residential energy efficiency property credit, and the energy investment credit under section 48.

BEST FRIEND SMALL BUSINESS'S HAD IN YEAR'S

[Rabbithoundjb]

LMAO, PMB you better lay off the kool-aid for while.


OBAMA=ANTI-BUISNESS, PERIOD!!!!!!!!!!!!!!!!!!!!!!!!!
ANTI-AMERICAN WORKER, PERIOD!!!!!!!!!!!!!

[bluemouse]

Pinenut, with all your cut a paste crap, answer this question, if its all rosey and America's best friend obumer running the country, why are small business NOT hiring. here is a little help, obumer running the country is like living with a rat you never know what he is doing behind your back.

[Pine Mt Beagles]

WASHINGTON — President Obama signed his first bill into law on Thursday, approving equal-pay legislation that he said would “send a clear message that making our economy work means making sure it works for everybody.”

Mr. Obama was surrounded by a group of beaming lawmakers, most but not all of them Democrats, in the East Room of the White House as he affixed his signature to the Lilly Ledbetter Fair Pay Act, a law named for an Alabama woman who at the end of a 19-year career as a supervisor in a tire factory complained that she had been paid less than men.

After a Supreme Court ruling against her, Congress approved the legislation that expands workers’ rights to sue in this kind of case, relaxing the statute of limitations.

“It is fitting that with the very first bill I sign — the Lilly Ledbetter Fair Pay Act — we are upholding one of this nation’s first principles: that we are all created equal and each deserve a chance to pursue our own version of happiness,” the president said.

He said was signing the bill not only in honor of Ms. Ledbetter — who stood behind him, shaking her head and clasping her hands in seeming disbelief — but in honor of his own grandmother, “who worked in a bank all her life, and even after she hit that glass ceiling, kept getting up again” and for his daughters, “because I want them to grow up in a nation that values their contributions, where there are no limits to their dreams.”

[Pine Mt Beagles]

)For the second time in the last 30 days a single Republican Senator has blocked a temporary extension of the filing date for unemployment extensions. Sen. Tom Coburn (R-OK) no doubt drawing the short straw among the GOP caucus, used the national debt as the basis for his argument against the short tem extension. "What we are doing is stealing future opportunity from our children," Coburn said Thursday with little regard for the well being of some of those children whose parents are living benefit check to benefit check and will now go at least one week without thanks to the Senators actions.
NO SHAME,REPUBLICAN DO NOTHING'S.

[Pine Mt Beagles]

The Senate invoked cloture on a bill that provides states with $26 billion in funding for Medicaid and to prevent mass layoffs of teachers. These two streams of funding have been added to — and then cut from — bill after bill, because conservatives objected to their cost. Initially, the bill that was voted on today added $5 billion to the deficit, but it was tweaked to include larger spending offsets. And according to the Congressional Budget Office, it now decreases the deficit by $1.3 billion over ten years through cuts to food stamps and closing corporate tax loopholes.

Two Republicans — Sens. Susan Collins (R-ME) and Olympia Snowe (R-ME) — voted to invoke cloture and end the ongoing filibuster. The rest of the Republican caucus, however, voted no. That’s 38 Republican senators who voted against a deficit reducing jobs bill. (Sen. David Vitter (R-LA) didn’t vote.) The Wonk Room explains how this vote clearly puts the lie to the notion that Republicans really want small spending measures to pass, but only if they’re “paid for.”
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-DON'T YOU JUST LOVE THESE ANTI- AMERICAN HIPPOCRIT'S--THE WORST ENEMY AMERICA HAS IS REPUBLICAN SENATOR'S..

[Pine Mt Beagles]

Republicans Against Highway Jobs Bill

At this very moment, Republican Senators are fulfilling a pledge that they made on Tuesday to filibuster today to block passage of the Senate Democratic Caucus plan to create jobs and improve our roads and bridges. Senate Bill 121 will invest $1 billion dollars in road and bridge construction and create approximately 30,000 new jobs without raising a dime of taxes–not one thin dime. Republican Senators say that they are opposed to this plan and have offered their alternative–Senate Bill 229 by Senator Del Marsh.
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-JUS NO END, TO THE CONTEMPT-REPUBLICAN'S HAVE FOR WORKING AMERICA.