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  • Tax increase compromise

    From Jeff Binkley@1:226/600 to All on Sat Dec 11 04:24:00 2010



    It's been awfully quiet here regarding the proposed tax bill and Obama
    caving to the Republicans. It's 1994 all over again, with a worse
    economy for the Republican House to deal with. The addition of allowing businesses to write off 100% of major capital expenses next year is
    huge. They should have also added a provision to allow an increase in investment loss write-offs for individuals. Many folks are sitting on investment losses for 2008 that they can only write-off $3,000 per year forever. Increasing that number would have put a lot of money directly
    into pockets of those would would have either invested it or spent it.
    Either would have been a major boost for the economy. Another item is
    that the Administration needs to cut a deal with the business leaders
    who approached them about bringing $1T in profits back to the US, if the Administration was willing to cut a deal on the tax rates. This one may
    be covered under the capital expenses item. I am not sure. If not, it
    is a huge opportunity to get something vs. nothing and help the economy
    even more.


    Jeff

    CMPQwk 1.42-21 9999
    Democrats -- The party of economic obstruction ....

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