Monday, September 06, 2010

It's nothing you didn't already know...

...but still, confirmation is always nice to have. According to Fox News, on Wednesday,
President Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to write off 100 percent of their new investment in plant and equipment through 2011, a plan that White House economists say would cut business taxes by nearly $200 billion over two years. ...

[T]the investment incentive would embrace a long-held wish by conservative economists that had never won support from either Republican or Democratic administrations.
So giving business a huge tax break that conservative economists have long wanted. They must be over the moon. But wait!
[T]he response Monday from business lobbyists hinted at uncertain political prospects for the idea: Many said a higher priority for their members remains extension of the Bush income-tax rates for higher earners that are set to expire at the end of 2010.
So all the blather about investing and jobs and how they really really really want to build the economy but oh my! the taxes! was just pure unadulterated bullshit. When it's put to them, what they actually really really really want is to keep the cash flowing into their own wallets, no matter the effect on everyone else.

And yeah, of course you already knew that. But like I said, confirmation is always nice.

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