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View Full Version : Obama to propose 'grand bargain'



Chris
07-30-2013, 02:17 PM
Here's link: Obama to propose 'grand bargain' (http://www.reuters.com/article/2013/07/30/us-usa-obama-idUSBRE96T0F820130730?feedType=RSS&feedName=politicsNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=574655).

From what I gather the bargain consists of (a) cutting corporate tax rates, (b) overhaul business taxes, (c) fund infrastructure with raised revenues.

Not real clear if over all taxes would be reduced or raised in effect or if this is basic Laffer Curve where lowering taxes can raise revenues. Funding infrastructure gives Dems what they want. I prefer starving the beast as Milton Friedman would argue.

At this point, with minimal information, what does everyone else think?

Cigar
07-30-2013, 02:20 PM
The Rethugs will say NO ... because it's from the Black Chicago Muslim Community Organizer from Kenya with no Birth Certificate.

fyrenza
07-30-2013, 02:30 PM
I'm actually All FOR cutting, and indeed, eliminating corporate/business taxes,

since this is just a "pass through" expense that is ultimately paid for by the end consumers,

and totally skews the whole Free Market principle of a Good Product for a Fair Price.

The infrastructure part would depend upon WHICH ones were to be funded.

ptif219
07-30-2013, 02:34 PM
It is more of a spending bill

http://thehill.com/homenews/administration/314191-obama-to-focus-on-manufacturing-in-chattanooga


Obama’s plan would cut the corporate tax rate from 35 percent to 28 percent, with a preferred rate of 25 percent for manufacturers. It would also allow small businesses to write off $1 million in investments.

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Obama also wants Congress to sign off on new infrastructure spending, aid to community colleges and investment in manufacturing hubs. The White House did not say how much Obama wants to spend.

Chris
07-30-2013, 03:19 PM
The Rethugs will say NO ... because it's from the Black Chicago Muslim Community Organizer from Kenya with no Birth Certificate.

If the libertarian/tea parties faction has anything to say you might be right.

zelmo1234
07-30-2013, 03:51 PM
It appears that it raises Business Tax and cuts the corporate tax rate so it is actually a net increase in taxes?

metheron
07-30-2013, 03:55 PM
We do need new infrastructure somehow.

I think if this were cost neutral then it should definitely be considered.

patrickt
07-30-2013, 03:58 PM
The Rethugs will say NO ... because it's from the Black Chicago Muslim Community Organizer from Kenya with no Birth Certificate.

I realize as a racist, Cigar, your view of the world is skewed. In reality, the grand bargain will fail because it will be proposed as spend now, cut taxes and increase revenue some time later, promise.

fyrenza
07-30-2013, 04:10 PM
If the libertarian/tea parties faction has anything to say you might be right.

I would align with either of those parties, to defeat the dems, and I'm not against it.

Chris
07-30-2013, 04:58 PM
It appears that it raises Business Tax and cuts the corporate tax rate so it is actually a net increase in taxes?

I was wondering that too. Reforming business tax makes sense only if it increases revenues to someone like Obama.

Chris
07-30-2013, 04:59 PM
I would align with either of those parties, to defeat the dems, and I'm not against it.

Movements, not parties. :-) We party but aren't partisan. I'd like to defeat both of them.

fyrenza
07-30-2013, 05:13 PM
No kidding! But WHAT can we call the New Party?

The Get-DOWN Party?

The Party HEARTY Party? :grin:

patrickt
07-30-2013, 05:29 PM
If a group as undemocratic as the Democrat Party, any party opposing the Democrats could be the Americans Walking on Water Party.

Singularity
07-30-2013, 05:35 PM
McConnell has said this is dead on arrival (http://livewire.talkingpointsmemo.com/entry/mcconnell-rejects-obamas-further-left-grand-bargain). No surprise there.

Boehner isn't too keen on it either.

At least we have something on the table now, but it looks like
we're going to need another election before somebody really
gets a mandate. I don't think anything else really can happen
unless the same group of Republicans who cut McConnell's balls
off on nominations takes similar action here to get this done.

Chris
07-30-2013, 05:38 PM
No kidding! But WHAT can we call the New Party?

The Get-DOWN Party?

The Party HEARTY Party? :grin:

DOn't know. Perhaps, as opposed to the Ruling Class, the Country Class.

fyrenza
07-30-2013, 05:43 PM
Peons For Personal Prosperity!

Heck, the middle-class peons are the one's FINANCING everything ~ perhaps THEY'D like a little sliver of the "pie."

ptif219
07-30-2013, 09:25 PM
McConnell has said this is dead on arrival (http://livewire.talkingpointsmemo.com/entry/mcconnell-rejects-obamas-further-left-grand-bargain). No surprise there.

Boehner isn't too keen on it either.

At least we have something on the table now, but it looks like
we're going to need another election before somebody really
gets a mandate. I don't think anything else really can happen
unless the same group of Republicans who cut McConnell's balls
off on nominations takes similar action here to get this done.

Maybe because it will hurt small business which means it hurts the middle class

http://www.weeklystandard.com/blogs/obama-top-tax-rate-should-be-28-corporations-40-small-business_742312.html



Obama: Top Tax Rate Should Be 28% for Corporations, 40% for Small Business

Mainecoons
07-31-2013, 07:51 AM
That is a little misleading since corporate dividends are subject to further personal taxation after corporate taxation.

Oh, and BTW, 28 percent is still way above most of the rest of the world, particularly the places we have to compete with.

More Obama tokenism. What's he's really after is more taxation.