Obama Proposes HUGE tax cut

[Gary and Alla 3,694]

After deciding to accept money from Super PACs who are not limited in the amount of money the can donate to a politician due to the recent Supreme Court ruling, Obama has recently reversed his position on many issues.

After vowing to always protect the Social Security System for the nation's elderly, Obama has slashed the only source of funding for the program two years in a row. The Presidents spokesman, J. Carney noted that this additional money in the pockets of working Americans will help them buy gasoline which has doubled in price since Obama took office. "Old people really don't drive very much so better to let the young people keep it."

Obama then offered a HUGE tax cut to corporations reduicng the corporate income tax rate 20% from 35% to 25%. "7% is 20% of 35% and that is our gift to corporate America in return for generous funds in our campaign bank account"

Obama expects to be re-elected now based on the fact that he has killed more Muslims than George Bush, cut taxes more than George Bush and started us on the path to privatize Social Security.

"The President has kept Gitmo open, failed to produce any environmental legislation, doubled profits for oil companies, cut taxes for corporations and killed our enemies. Vote for 4 more years"

Edited February 23, 2012 by Gary and Alla

[Tim/Mav 305]

I guess so. Politics/Economy/Prices.

When was the last time you pulled into a Sevice Station and said: "Fill it up" with premium.

[Gary and Alla 3,694]

I guess so. Politics/Economy/Prices.

When was the last time you pulled into a Sevice Station and said: "Fill it up" with premium.

I can because Obama defunded Social Security and I get to keep the money now! Dude, $20 per week!

He is also going tocut taxes for oil companies and I think they will lower their gas prices because of the money they save. "Trickle down" is the theory.

[Usui Takumi 1,562]

Personally I think this is a good move...IF it happens which is unlikely.

[MyLittlePony 340]

Obama has to find a was to control the gas prices from going up before America goes broke.

[Gary and Alla 3,694]

Personally I think this is a good move...IF it happens which is unlikely.

I think it is great news. I expect the Repubs to add more tax cuts for PEOPLE also, not just for corporations. Corporations are not people, after all, and should not be treated like people just because they shovel money into Obama's campaign. But tax cuts are good. Makes us more competitive.

[Gary and Alla 3,694]

Obama has to find a was to control the gas prices from going up before America goes broke.

He wants to cut taxes for oil companies. That should do it.

[luckytxn 2,265]

Run to the right then veer to the left.

[Usui Takumi 1,562]

I think it is great news. I expect the Repubs to add more tax cuts for PEOPLE also, not just for corporations. Corporations are not people, after all, and should not be treated like people just because they shovel money into Obama's campaign. But tax cuts are good. Makes us more competitive.

I've probably said this before but I prefer higher income taxes and lower corporate taxes.

[Gary and Alla 3,694]

I've probably said this before but I prefer higher income taxes and lower corporate taxes.

Wouldn't surprise me. If we had -0- corporate tax we could have lower personal income tax, not higher. There would be about 15 million more people with jobs paying tax. Corporations just pass any tax on to us anyway. We could also do away with ALL payroll tax and fund SS and medicare with the surplus.

Obama is going the right direction. It is a learning process

[Gary and Alla 3,694]

Curious that none of our regular Democrat posters have come along to praise Obama for his bold move to boost the economy.

Big dog? Steven? LI? What do you guys think about slashing taxes for corporations and funding for SS? This could get him re-elected and will probably increase the shrieking from the Repubs about...condoms or something.

Edited February 23, 2012 by Gary and Alla

[Mr. Big Dog 10,747]

I think it is great news. I expect the Repubs to add more tax cuts ...

Now that Obama put forth a proposal to cut corporate tax rates, Republicans will now oppose lowering corporate tax rates.

[Gary and Alla 3,694]

Now that Obama put forth a proposal to cut corporate tax rates, Republicans will now oppose lowering corporate tax rates.

I doubt it. What they WILL do is add S corps and other small businesses, many of which file using a personal 1040. Now if Obama wants to help PEOPLE as well as Corporations that give him lots of cash, he would go along with that. On the other hand there are advantages to filing a personal return as opposed to separate Corporate and Personal returns and one could argue that they already have a tax cut. A person could simply opt to do both returns if that suited them better. Either way, I am not against lowering taxes on people that produce JOBS which produce income to be taxed.

Better yeat would be to eliminate corproate income tax altogether, but I am not going to turn down a 20% cut.

[Mr. Big Dog 10,747]

I doubt it. What they WILL do is add S corps and other small businesses, many of which file using a personal 1040. Now if Obama wants to help PEOPLE as well as Corporations that give him lots of cash, he would go along with that. On the other hand there are advantages to filing a personal return as opposed to separate Corporate and Personal returns and one could argue that they already have a tax cut. A person could simply opt to do both returns if that suited them better. Either way, I am not against lowering taxes on people that produce JOBS which produce income to be taxed.

Better yeat would be to eliminate corproate income tax altogether, but I am not going to turn down a 20% cut.

The Republican opposition to corporate tax rate cuts will become clear to you when this proposal fails to get through Congress. The corporate tax rate will be 35% at the end of 2012 just as it is now. Not because the president wants it that way but because Republicans will not pass the tax rate cut legislation required to bring it down from where it is today.

[Gary and Alla 3,694]

The Republican opposition to corporate tax rate cuts will become clear to you when this proposal fails to get through Congress. The corporate tax rate will be 35% at the end of 2012 just as it is now. Not because the president wants it that way but because Republicans will not pass the tax rate cut legislation required to bring it down from where it is today.

I disagree although you may be correct in the result. I think the Repubs will ADD tax cuts, the Dems will reject it and the Repubs will say the Dems would not cut taxes. That would backfire, but what is the alternative?

It is an election year, Obama wants to get re-elected, the Repubs do not wat him to usurp their "game" It is a no win for the Repubs. Pass it and Obama gets creidt and re-elected, turn it down and the Repubs get in trouble for not supporting tax cuts. The best they can hope for is to insert some sort of "poison pill" and get Obama to reject it. Myself, being neither Dem nor Repub just want tax cuts on businesses that create jobs

At the end of the day, the whole thing is an endorsement for the FAIR TAX which would get politics OUT of funding the government, this is why politicians hate the FAIR TAX and we should love it.