At least two tax cuts that are part of Barack Obama’s stimulus package have been criticized by lawmakers.
Both Democrats and Republicans have questioned a provision that would provide a $3,000 tax credit to companies for every job created and, possibly, for every job spared.
Another Obama provision, a $500 credit for middle-class taxpayers, may face significant revisions, if it survives the final cut. Obama has proposed distributing the benefit over the course of a year.
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More:
Advice for Obama: Put a Sock In It
I think investors were put off by Obama’s warnings of “trillion-dollar deficits for years to come” -– an unwelcome reality check from our cheerleader-in-chief who is laying the groundwork for massive spending programs and ultimately for an A+ report card for his administration.
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More Still:
Obama’s Economic Plan: The Great Snow Job of 2009Obama is getting away with the Big Lie on the economy. Read More
AND MUCH MORE
Obama’s Tax Plan Hits Democratic WallPresident-elect Barack Obama’s proposed tax cuts ran into opposition Thursday from senators in his own party who said they wouldn’t do much to stimulate the economy or create jobs.
Senators from both parties agreed that Congress should do something to stimulate the economy. But Democratic senators emerging from a private meeting of the Senate Finance Committee criticized business and individual tax cuts in Obama’s stimulus plan. Read More
Seem that many lawmakers don’t like all of Obama spending spree! I hope that the American people that voted for Obama see just what they are getting out of this stimulus package, people you’re not going to get much of anything. Tax cut my foot, its a one time welfare hand out and giving it out over the span of a year…what a laugh! Yes we can!