The Presidential Planner
EmailABC News' Sunlen Miller reports:
On the road selling his State of the Union agenda again today, President Obama will visit a small business in Baltimore to speak specifically about one part of his jobs initiatives — the proposed small business jobs and wages tax credit.
The small business the president will visit will be one that could “potentially benefit” from the proposal and spur hiring this year – something an administration official likened to the popular cash-for-clunkers program.
“This is meant a little bit like the cash-for-clunkers program to give an extra incentive to go out, hire and maybe take someone you were going to sit on the sidelines for another six months and do it now,” a senior administration official says.
The president’s proposal will cut taxes and provide the incentive “not just to add jobs, but also to raise wages, to expand work hours and to create good paying jobs,” a senior administration official says.
Under the proposal, businesses will receive a $5,000 tax credit for every net new employee that they employ in 2010, small businesses will be reimbursed for the Social Security payroll taxes they pay on real increases in their payrolls, and firms will be able to claim the credit on a quarterly basis, which gets money out to businesses quickly and provides an early incentive to hire and increase payrolls.
Two days after calling for more bipartisanship in Washington in his State of the Union address, President Obama will then speak before the GOP House Issues Conference at the Renaissance Baltimore Harborplace Hotel in Baltimore.
While on the road Thursday in Florida, the president called on Republicans to get off the “sidelines.”
“I want them working with us to solve problems facing working families, not to score points,” President Obama said in Tampa, “I want a partnership.
After speaking before the annual retreat, the president will then return to Washington and will meet with Secretary of the Treasury Geithner in the Oval Office.
-Sunlen Miller
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I wonder if he’ll be able to do this without the smug look that he carries on his face everywhere he goes. As if his mere presence will just magically fix everything.
Posted by: EPU | January 29, 2010, 8:00 am 8:00 am
Obama passed the $282 billion tax cut last year, it was full of these incentives. How did that work out? We learned (again) the lesson over the last ten years that tax cuts are the worst method of stimulating the economy. Why would we think that these tired old Republican ‘solutions’ would all of a sudden start working now?
We voted for a change, and we got a corporatist republican.
Posted by: Flash Override | January 29, 2010, 8:17 am 8:17 am
If ALL the illegal aliens are deported back to their original country. Our unemployment would be zero, money would recirculate back to the Americans not other countries.
Posted by: k c oral | January 29, 2010, 9:31 am 9:31 am
“Obama passed the $282 billion tax cut last year, it was full of these incentives.”
Can you explain how this was a “tax cut”? It was not. It was a one-time tax credit of ~$13/week for couples earning <$150k, $7 per week for single-earners earning <$75k. "Only" $51B went to corporations.
Can you name a civilization that has failed because it taxed its citizens "too little"?
It's easy to rattle off civilizations/governments that have failed because they spent too much/taxed too much (as the U.S. is doing today).
Posted by: tjp612 | January 29, 2010, 10:40 am 10:40 am
Viewers of the State of the Union address were treated to the spectacle of a man completely disconnected from reality, insisting the country join him in celebrating his failures as rousing successes.
It wasn’t a President honestly discussing the state of the union. It was a long, rambling exit interview from a deluded employee, who thinks he was called into the office to get a raise instead of a pink slip.
It was the hurt and confusion of an academic who doesn’t understand how his B+ term paper could have become such a disaster when implemented in the real world, and insists it will still work, if everyone pays closer attention to the extensive footnotes.
Wake up, folks. The November elections are our opportunity to limit further damage from The Obama Buffoon.
Posted by: TT | January 29, 2010, 10:43 am 10:43 am
He’s now going a step further. He’s actually carrying fairy dust. That’s where the real magic is.
Posted by: Mike | January 29, 2010, 10:49 am 10:49 am
I’ve always had a problem with C4Clunkers. It goes against simple supply and demand logic. We’re pushing new cars into a market already saturated with countless used and repossessed cars (i.e. repofinder). Now new cars depreciate faster, more Americans are in debt, and more repossessions are on the horizon.
Posted by: Mike | January 29, 2010, 12:06 pm 12:06 pm
Wake up, folks. The November elections are our opportunity to limit further damage from The Obama Buffoon.
Posted by: TT | Jan 29, 2010 10:43:47 AM
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No substance in your post, just an attack topped off with name calling.
Is that the Republican strategy? Is that how the Republican right thinks good government works? Seems to be.
Posted by: tierra | January 29, 2010, 2:50 pm 2:50 pm
Can you name a civilization that has failed because it taxed its citizens “too little”?
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We came awfully close ourselves under the last administration. Tax cuts, plus unpaid for wars, plus unpaid for drug plan for seniors, etc = the ballooning of the national debt (and the deficit) under Bush. Couple that with a crashed economy under the same administration and you have something very close to a full system failure.
Posted by: tierra | January 29, 2010, 2:54 pm 2:54 pm
Too bad the GOP has no leader or real solutions to offer and can only attempt to make Obama, the only one who’s apparently trying to actually do something, bad. Any party that thinks limitless corporation donations to campaigns is a good thing like the GOP has done makes me take a step back and wonder if I’ll ever be able to support them again.
Posted by: Steven Worus | January 29, 2010, 4:15 pm 4:15 pm
My small business continues to operate. While I previously employed 7 people, I now employ ZERO. The punishing effects of State and Federal REGULATIONS and taxes made it too painful. I was an unpaid accountant and tax collector for the state. Now I have no employees and anything I make is subject only to the confiscatory personal State and Federal taxes, much fewer headaches than with employees. My company is not as big, but it is not as problematic. It was a small mountain, now more its more like a hill, but what the heck, King is King!
Posted by: twg | January 29, 2010, 9:49 pm 9:49 pm