Democrats criticize Obama's proposed tax cuts

Friday 09th January, 07:00 AM JST

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13 Comments

Ninefingers at 08:53 AM JST - 9th January

Obama is a train wreck. In 4 years we need CHANGE!
HonestDictator at 09:40 AM JST - 9th January

Can't change in four years what took decades to create. Tax cuts? I don't expect to be paying more taxes, but I also think the problem needs to be fixed about all those that are avoiding paying taxes or misreporting their taxes for deductions need to be fixed. The US is going for broke.
skipthesong at 09:50 AM JST - 9th January

The plans of the incoming administration's is really going to hurt small businesses who usually hire between 5 to 10 people.
Helter_Skelter at 09:59 AM JST - 9th January

proposed $3,000 tax credit for companies that hire or retrain workers.

I'm no economist, but that does seem a little lame. Why would a relatively small tax credit encourage companies to hire employees, which are very expensive, if they don't have the work? Is this a sample of the economic policies Obama is proposing? I hope not.
Betzee at 10:30 AM JST - 9th January

Without consumer access to cheap credit, our "great economy" would have tanked long ago. Consumption-driven economic growth is sustained by continuously expanding the number of people who have money, or more likely access to credit, to buy products and services. In their absence, businesses, regardless of tax credits or cuts, won't invest in new plants and equipment or have any need to hire new workers, since consumers lack the purchasing power to buy their products.

This was the worst holiday season in 40 years. I don't expect it to get better for a while.....
sharky1 at 11:52 AM JST - 9th January

democrats criticizing democrats...
adaydream at 03:28 PM JST - 9th January

I'm disappointed to hear all this dissension with in the democratic ranks. I think that there needs to be more this will work or that will work more than just complaining.

I remember listening to his speach today and he said that he was open for suggestions. If these leaders have such great ideas, I hope they get them in.

The direction that we are going now is killing us. The way that John McCain had plans for would continue the bleeding.

Unless you got a better idea, we need to follow the direction we voted for.

How much of a credit do small businesses get right now to hire or retrain workers?

Is the middle class getting this tax credit right now? Don't think so. So you want to complain about it?

I voted for Barack, so I want these tax cuts.

What would you suggest? < :-)
SushiSake3 at 04:02 PM JST - 9th January

adaydream - 'What would you suggest?'

Republicans, attracted as they are to failure like moths are to a flame, simply want more of the same George Bush-sponsored failure.

As if they haven't already got a big enough crisis on their hands.

4 more years of Barack! :-)
SuperLib at 08:54 PM JST - 9th January

I sure hope the next 4 years aren't like the last 8 because I'm not sure I could handle 12 years of hearing Sushi talking about Bush. ;)

Sounds like Obama missed the ball on this one, but then again I can't really say I know much about it. My guess is that he wanted to have any kind of incentive to keep employers from laying off workers. Maybe if some employers are on the fence about letting some people go this is a push in the right direction. But yeah, getting people in a position to buy more would probably create an overall bigger gain.
Betzee at 10:06 PM JST - 9th January

I'm disappointed to hear all this dissension with in the democratic ranks.

I'm sure not. It' when things aren't debated that the worst mistakes are made. I remember Olympia Snowe, a moderate Republican, back in early 2001 questioning the revenue projections that the White House floated to show GWB's tax cuts were affordable. Her concerns were shouted down. And then the Republican Congress, with the exception of two Senators, marched in lockstep with the administration over a cliff, taking all of us with them. It's gonna take us a while to get back up; but the specter of Japan's "lost decade" illuminates the consequences of doing nothing.
usaexpat at 01:08 AM JST - 10th January

I have to side with Senator Conrad as well. If a company can't sell its products why would they hire workers even if they were 100% subsidized? $3000 is certainly not incentive to add jobs to the payroll. I'm still skeptical about the infrastructure projects as well. Now is the chance to fully re-instate the WPA and get everyone on the doll including able bodied people collecting wellfare engaged in some sort of work that will benefit the country. I want to see a comprehensive plan before I weigh in on the likelihood of it making a difference to the economy.
WayneRooney10 at 01:49 AM JST - 10th January

Just do what Miss Oprah says! Don't Worry, Be Happy!
SuperLib at 01:50 AM JST - 10th January

I sure hope the next 4 years aren't like the last 8 because I'm not sure I could handle 12 years of hearing Betzee talking about Republicans. :)