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Response to grantcart (Original post)

Wed Jul 31, 2013, 01:16 AM

5. A Plan to Simplify the Tax Code for Businesses and Give Working Families a Better Deal



“...But if we’re going to give businesses a better deal, then we're also going to have to give workers a better deal, too,” President Obama said.

I want to use some of the money that we save by closing these loopholes to create more good construction jobs with infrastructure initiatives that I already talked about. We can build a broader network of high-tech manufacturing hubs that leaders from both parties can support. We can help our community colleges arm our workers with the skills that a global economy demands. All these things would benefit the middle class right now and benefit our economy in the years to come.

"And that's what I'm going to be focused on not just for the next few months," he said. "I'm going to be focused for every one of the 1,270 days I've got left in my presidency on how to make sure that we've got more opportunity and more security for everybody who is willing to work hard in this country. That's where I believe America needs to go."

Learn more about President Obama's plan to simplify the tax code for businesses and create jobs and economic growth:

FACT SHEET: A Better Bargain for the Middle Class: Jobs

One of the cornerstones of the President’s plan to create a better bargain for the middle class is to ensure that every American who is willing to work for it will have the opportunity for a good job that pays good wages. In today’s speech, the President laid out an idea that both parties should be able to support to create jobs: a plan that simplifies the tax code for our businesses and gives working families a better deal.

Our current tax code is broken and too complex, with businesses that play by the rules paying a 35% tax rate while many corporations that can hire hundreds of lawyers pay virtually no taxes at all. That is why the President has called for a revenue-neutral simplification of our business tax code to eliminate loopholes that encourage companies to ship jobs overseas and establishes a top tax rate of 28%. Under the President’s proposal, some businesses would pay less, some corporations would pay more, but everyone would pay their fair share. But if we’re going to give businesses a better deal, we should give the people who work there a better deal too. Today, the President is calling for a pro-growth tax reform and jobs package that would be fully offset using one-time revenues raised as we transition to a new business tax system. The transition revenue would support much-needed investments such as modernizing our infrastructure; creating new manufacturing hubs; and training our workers with the skills they need for the jobs of today and tomorrow. At the same time, President Obama remains committed to pursuing a long-term deficit reduction deal that includes revenue-raising individual tax reform and a balanced approach to replacing the damaging sequester.

The bottom line is that the President will work with Republicans on a package to simplify our business tax code so long as it includes real investments to help restore middle class security, create jobs and grow the economy.

Much more here:

http://www.whitehouse.gov/the-press-office/2013/07/30/fact-sheet-better-bargain-middle-class-jobs

The primary source here:

http://www.whitehouse.gov/blog/2013/07/30/plan-simplify-tax-code-businesses-and-give-working-families-better-deal

Video, transcript, article and more at alp227's thread here:

http://www.democraticunderground.com/?com=post&forum=1014&pid=552943

Obama at Chattanooga’s Amazon center challenges GOP to accept corporate tax deal



Transcript:

http://www.whitehouse.gov/the-press-office/2013/07/30/remarks-president-jobs-middle-class-073013

Naturally, the 1% owned media will do all they can to obfuscate. block and edit this to depress the Democratic voting block.

They will be twisting his plan because it will curtail their profits by eliminating the loopholes that grow their monopoly power. The ignoratti will fall for it.

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grantcart Jul 2013 OP
PoliticAverse Jul 2013 #1
Pretzel_Warrior Jul 2013 #2
grantcart Jul 2013 #4
Cha Jul 2013 #3
LineNew Reply A Plan to Simplify the Tax Code for Businesses and Give Working Families a Better Deal
freshwest Jul 2013 #5
freshwest Jul 2013 #6
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