100 million is nothing compared to the value added to the company from its stock doubling under Obamas policies The fine for a company not offering health insurance is 2,000 per employee,much less then the 10,000 they would have to pay on a decent insurance policy.Small companies with less then 50 employees have no fine or requirement to provide insurance The stock market and value to businesses has recovered faster under Obama then FDR and Reagan.While all these companies are complaining about Obamas polices most of them are doing much better now then they were in Nov 2008
Name one policy which Obama has implemented that is pro stock market. Since Obama introduced Obamacare the market is off over 6%, and it almost immediately collapsed right after Obama care was introduced, it will probably end up higher then where he introduced Obamacare but it is inspite of Obama not because of him. The market recovered inspite of him not because of him, that would be like saying Bill Clintons tax increases caused a stock market bubble, you are being terribly disingenous. A good friend of mine owns 8 bars, he probably has 160 employees, who are waitresses servers bartended, cooks, etc. this will cost him 320000 dollars, and his business just went from doing aout 1 mill a year to almost nothing over the last couple years, this bill will be the direct cause of his downfall and 160 people losing their job. You know how many businesses are out there in the service industry in the exact same situation as him? I dont know about you, but im pretty sure most people on minimum wage would rather have a job, and be able to eat then healthcare. Obama just tripled the cost for most people in the service industry with the stroke of a pen, because a large part of their cost is based on wages, and minimum wage jobs.
Tax cuts.This is tax cuts from From Obamas stimulus bill Tax cuts for companies Total: $51 billion $15 billion: Allowing companies to use current losses to offset profits made in the previous five years, instead of two, making them eligible for tax refunds. $13 billion: to extend tax credits for renewable energy production (until 2014). $11 billion: Government contractors: Repeal a law that takes effect in 2012, requiring government agencies to withhold three percent of payments to contractors to help ensure they pay their tax bills. Repealing the law would cost $11 billion over 10 years, in part because the government could not earn interest by holding the money throughout the year. $7 billion: Repeal bank credit: Repeal a Treasury provision that allowed firms that buy money-losing banks to use more of the losses as tax credits to offset the profits of the merged banks for tax purposes. The change would increase taxes on the merged banks by $7 billion over 10 years. $5 billion: Bonus depreciation which extends a provision allowing businesses buying equipment such as computers to speed up its depreciation through 2009. Tax cuts for individuals Total: $237 billion $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29] $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29] $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000. $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41] $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009. $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit â which provides money to low income workers â for families with at least three children. $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners. $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
When something go's wrong with buisnesses,Obama is to blame.When companies stock price double,the companies expand,beat analyst expectations etc it is doing so in spite of Obama I dont agree with that
Although unpopular,his bailouts of the car companies,banks,Aig ect saved a lot of jobs and avoided the declines in the stock market that would have occurred if all those companies had failed
Obama is playing a shell game here is a list of tax increases on businesses, not even mentioning Obama care which is the biggest tax increase in history, just because he calls it a "fine" for people not paying for healthcare doesnt mean it isnt a tax increase on business, in fact Obama and team is currently in court trying to argue the constitutionality of Obamacare, and they are arguing it is a tax increase, because if it isnt they cant force people to buy a product, funny he argued the whole time that it wasnt a tax increase.... President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals. 1) On people making more than $250,000. $338 billion - Bush tax cuts expire $179 billlion - eliminate itemized deduction $118 billion - capital gains tax hike Total: $636 billion/10 years 2) Businesses: $17 billion - Reinstate Superfund taxes $24 billion - tax carried-interest as income $5 billion - codify "economic substance doctrine" $61 billion - repeal LIFO $210 billion - international enforcement, reform deferral, other tax reform $4 billion - information reporting for rental payments $5.3 billion - excise tax on Gulf of Mexico oil and gas $3.4 billion - repeal expensing of tangible drilling costs $62 million - repeal deduction for tertiary injectants $49 million - repeal passive loss exception for working interests in oil and natural gas properties $13 billion - repeal manufacturing tax deduction for oil and natural gas companies $1 billion - increase to 7 years geological and geophysical amortization period for independent producers $882 million - eliminate advanced earned income tax credit Total: $353 billion/10 years
1.Is the first set of taxes from the Bush tax cuts expiring ?If so I dont consider that an Obama tax increase.With todays congress even Bush would not have been able to extend those tax cuts,he had to use reconciliation just to get them passed . 2.The $210 billion - international enforcement, reform deferral, other tax reform seems to be going after tax cheats rather then a tax increase on on honest individuals and companies Most of the other taxes seem to be against big oil.I wont deny he hates them
Well it doesnt really matter much given the fact that Obamacare will cost Businesses hundreds of billions a year. I have no problem with tax increases if they are used properly, i had no problem with Clinton raising taxes on businesses during the 90's because it was during an overheated economy. If we had responsible government/federal reserve, we could keep the economy on some what of a flat line most of the time, but we dont. What Obama is doing right now is reckless, if politicians raised taxes in times of prosperity and cut them in times of need, we would be fine. Raising taxes during a recession is a terrible idea in any economists book.