Let the jobs bloom!
Listen to Dave Ross Commentary:
The President has reached a tentative tax deal with the Republicans. And what a deal.
We’ve been hearing that the reason businesses aren’t investing is all the uncertainty over taxes. Well, if this passes, they can be certain. Not only would federal taxes NOT go up, they’d go down even FURTHER! Because addition to keeping the Bush and Obama tax cuts, this deal ALSO cuts the payroll tax!
And it keeps paying unemployment for another 13 months — that’s money going to people who spend it right away.
And for businesses? The estate tax has been cut back so you can pass up to 5 million to your heirs without being touched by any federal tax. AND businesses get to write off 100% of all the capital equipment they buy!
“If companies can actually deduct a big portion of their investments perhaps that will give them some extra money to hire.”
CBS’s Jill Schlesinger. “Perhaps” they’ll start hiring? With all of these tax breaks, and with the fed continuing to pump money into the banking system, if the spirit of free enterprise doesn’t kick in now; if the job creators can’t create jobs even after getting just about everything they’ve asked for — I think socialism WOULD be the only thing left.
And as for the Democrats who say the President caved yet again? They forget that the Republicans caved too. Remember all that whining about the deficit? And about how everything has to be paid for? All that TEA Party stuff? Not a peep. This plan that the Republicans are backing balloons the deficit as if the TEA party had never existed!
Those guys don’t take office ’till NEXT year.
And just try passing this deal THEN!
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