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<blockquote data-quote="purplesky" data-source="post: 1185427" data-attributes="member: 23628"><p>Print Email </p><p>Obama proposes lower corporate tax rates, new spending for job creation</p><p>By Nedra Pickler, Associated Press</p><p>POSTED: 07/30/2013 11:28:00 AM MDT16 COMMENTS</p><p>UPDATED: 07/30/2013 11:28:45 AM MDT</p><p></p><p></p><p></p><p></p><p></p><p></p><p>WASHINGTON — President Barack Obama, seeking to break Washington's fiscal stalemate, is proposing cutting corporate tax rates in exchange for more spending on jobs programs. But his offer was immediately panned by congressional Republicans, casting doubts about its prospects.</p><p></p><p></p><p>The White House painted the new offer as a way for Washington to create jobs and generate short-term economic growth even as hopes for a grand deficit reduction deal fade. Obama was to announce his proposals Tuesday during a trip to an Amazon.com distribution center in Chattanooga, Tenn.</p><p></p><p></p><p>"We should be looking for other avenues of progress, other 'grand bargains' that can be for middle class job growth," White House economist Gene Sperling said.</p><p></p><p></p><p>The president has previously insisted such business tax reform be coupled with an individual tax overhaul. His new offer drops that demand and calls only for lowering the corporate rate from 35 percent to 28 percent, with an even lower effective tax rate of 25 percent for manufacturers.</p><p></p><p></p><p>Obama wants those rate changes to be coupled with significant spending on some sort of job creation program, such as manufacturing, infrastructure or community colleges.</p><p><strong></strong></p><p><strong>Obama talked about lowering the corporate tax rates during the presidential debates with Romney. Remember Romney complained over and over about the HIGH Corp. tax rates while all along he was paying a super low effective tax rate. Thats why we didnt see Romneys tax returns. </strong></p><p><strong></strong></p><p><strong></strong></p></blockquote><p></p>
[QUOTE="purplesky, post: 1185427, member: 23628"] Print Email Obama proposes lower corporate tax rates, new spending for job creation By Nedra Pickler, Associated Press POSTED: 07/30/2013 11:28:00 AM MDT16 COMMENTS UPDATED: 07/30/2013 11:28:45 AM MDT WASHINGTON — President Barack Obama, seeking to break Washington's fiscal stalemate, is proposing cutting corporate tax rates in exchange for more spending on jobs programs. But his offer was immediately panned by congressional Republicans, casting doubts about its prospects. The White House painted the new offer as a way for Washington to create jobs and generate short-term economic growth even as hopes for a grand deficit reduction deal fade. Obama was to announce his proposals Tuesday during a trip to an Amazon.com distribution center in Chattanooga, Tenn. "We should be looking for other avenues of progress, other 'grand bargains' that can be for middle class job growth," White House economist Gene Sperling said. The president has previously insisted such business tax reform be coupled with an individual tax overhaul. His new offer drops that demand and calls only for lowering the corporate rate from 35 percent to 28 percent, with an even lower effective tax rate of 25 percent for manufacturers. Obama wants those rate changes to be coupled with significant spending on some sort of job creation program, such as manufacturing, infrastructure or community colleges. [B] Obama talked about lowering the corporate tax rates during the presidential debates with Romney. Remember Romney complained over and over about the HIGH Corp. tax rates while all along he was paying a super low effective tax rate. Thats why we didnt see Romneys tax returns. [/B] [/QUOTE]
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