Tag Archives: President Obama

Ben Stein backs president on taxing millionaires

In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.

In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.

It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.

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Is today the day for a debt ceiling deal?

With calls growing for Congress and the President to put aside politics, will the Washington politicians finally reach agreement on the debt ceiling controversy?

I doubt it. Look for a few more days of political theater. The deadline is still a couple weeks away, after all.

Eventually the pols will act. It’s hard for them to ignore political self-interest, but they have to do what’s best for the country, right?

Will they?

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Tax breaks for rum, race horses and windmills

If you are a fan of tax breaks — the more obscure the better — spend a little time this holiday weekend reading the tax law President Obama signed recently.

There are tax breaks for windmills, rum subsidies, race horses and other goodies.

Or check out this story. It’s a quicker read.

More on the tax cuts from the White House White Board:

Tax Cuts, Unemployment Insurance & Jobs

Obama and the billonaires brainstorm about economy

The economy got a double dose of good news today — retail spending was up foObama+Tax+Cuts.jpgr the fifth straight month in November and inflation remains in check.

But the best news for the economy may have been President Obama’s meeting at the White House with some folks who know how to make money — Warren Buffett and Bill and Melinda Gates.

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Speaking clearly — can government really do it?

For almost a month, the government has been required to communicate in plain language.

On Oct. 13 President Obama signed into law the Plain Writing Act of 2010. The stated purpose of the new law “is to improve the effectiveness and accountability of Federal agencies to the public by promoting clear Government communication that the public can understand and use.”

Have you been able to tell a difference?

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FedEx chairman endorses Obama’s business tax break plan

Business investment creates jobs and that’s why FedEx Chairman and CEO Frederick Smith supports the president’s proposal to allow businesses to immediately write off all new capital
FEDEX+CEO+LAWMAKERS(2).jpginvestments.

 Smith told CNBC today he is “thrilled” with President Obama’s proposal that would allow companies to write off 100 percent of capital investments through 2011.

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Tax cut compromise in trouble

For a few hours it looked like Republicans and Democrats were going to reach a compromise on President Obama’s proposal to renew the Bush tax cuts for all but the richest 2 percent of households.

On Sunday, House GOP Leader John Boehner said he would grudgingly support Obama’s plan if that was the only option.

By noon Monday, Senate GOP Leader Mitch McConnell had kicked compromise to the curb.

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Will the GOP help small business?

President Obama on Monday urged the Republicans to support passage of a small business aid package ASAP when they get back to Washington after Labor Day.

So far, Republicans have threatened a filibuster and otherwise kept the package of small biz tax cuts and financial aid from being considered. Kind of bizarre when you consider small business is generally considered a loyal supporter of the Republican Party.

Here’s hoping Tennessee Republicans Sens. Bob Corker and Lamar Alexander will break with the party and help small business.

Blame the wealthy — then make ’em pay

Rich Americans need to get on the ball. The recovery is slowing down and it’s all their fault.

If they don’t start spending — and I mean really spending — some economists think their tight-fisted attitude could push the economy back into recession.

Sounds kind of selfish, to me. A true patriot would be willing to spend freely to get the economy bustling again.

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