Obama Tax Cuts

The US tax cuts proposed by Obama are something of a mixed bag. I can’t readily decipher what it all means based merely on a quick glance at their website. It does seem to entail a lot of tax credits (ie handouts) rather than real reduction in tax rates. Tax credits are a demand side initiative and don’t generally do anything to change incentives or reduce trade barriers. However amoungst it all there are some good initiatives. Abolishing capital gains tax on small businesses will be good for the capitalists that drive innovation and will provide incentive for innovation. This is similar to the John Howard initiative in Australia where the small businesses held for more than 15 years was made exempt from capital gains tax.

What do others make of the Obama tax cuts?

9 thoughts on “Obama Tax Cuts

  1. I don’t think you need to worry about tax cuts from either side, unless you can convince the Chinese government to fund them.

  2. He talks more about rising taxes on the rich to “re-distribute” wealth than stopping taking it from the poor.

  3. There is a hell of a lot of double talk there given that he is eliminating the ‘Bush tax cuts’ which explains why he refers to ‘lower than tax rates in the 90s’ rather than what you are paying now.

    Placing a tax penalty on employers who do not give health cover is a significant rise.

    He has so far outlined in excess of a trillion in new spending, I doubt there will be much in the way of tax cuts.

  4. Now lets look an THINK America. Obama and Bidon has called this great NATION Black or White because there is no difference WE ARE ALL AMERICANS. They have called ALL AMERICANS Selfish , Unpatriotic , unless we vote for him.WRONG The first place your voice ether way is REAL AMERICAN. He has proven ties to both domestic and foreign terrorists. Has never served this nations armed forces. Has 90% tardiness record with his currant job as a Senator. The spread the wealth crap and it is crap.In a slow economy you DONT SPEND MORE AND YOU DONT RAISE TAXES. Lower taxes and less spending brings the dollar up it creates jobs. More jobs is more revenue , This also puts AMERICA Back on top in the World economy. The milatary will not follow a leader that has no sence of what VICTORY means to the COUNTRY. Dont let him lower your chance at having the AMERICAN DREAM.If you get the money from his welfare share the wealth plan then you become the one who then pays 50 % and you dont grow you become the back that HIS PARTY GETS RICH. So you never grow but the democrats get your money .WAKE UP WE ARE ONE NATION , We NEED A PROVEN LEADER THAT SEEs AMERICA , NOT DEMOCRATS NOT REPULICANS BUT AMERICANS. John McCain has crossed isle moretimes then Obama has been in the senate. A leader never uses guilt to get vote. I voted my belief not by party, I AM A AMERICAN AND YOU CANT USE GUILT TO CHANGE MY MIND. IT IS MY VOICE AND MY VOTE.

  5. A country that is not even close to balancing it’s budgets, come on get real. They have a war to pay for.

  6. Also if I was American, I’d be voting for Obama just to not be on people like sfokc6125’s side. Also John McCain’s tax cuts although across the board just seem unnecessarily cruel to me he is proposing a $200 000 tax cut for people earning over $2.9M but only a $19 or something like that tax cut for people earning under $19 000.

  7. Jarryd, it’s hard to give a big tax cut to someone earning $19k, seeing they don’t pay much tax at all (only payroll tax for social security). Cutting taxes for the rich does kinda help spur investment though.

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