|
|
theseeker
Joined: 25 Jul 2000
Posts: 3403
Location: Damnit...I'm a doctor jim |
 Thu May 29, 2003 4:29 am
|
 |
|
beautiful day !
Bush Signs Tax Cut Bill
Wednesday, May 28, 2003
WASHINGTON — For the third time since taking office, President Bush signed a tax cut measure Wednesday to put money back into the pockets of individual taxpayers, investors and small business owners.
"By ensuring that Americans have more to spend, to save and to invest, this legislation is adding fuel to an economic recovery. We have taken aggressive action to strengthen the foundation of our country so that every American who wants to work will be able to find a job," Bush said during an East Room signing ceremony where he was flanked by congressional lawmakers who led the push in Congress, as well as Treasury Secretary John Snow, who lobbied on behalf of the White House.
With the signing of the 10-year, $330 billion tax cut (search), the third largest in history, the president is on track to fulfill his goal of signing a tax cut every year that he's in office. He signed a $1.3 trillion measure in 2001 and a $96 billion tax cut bill last fall.
Wednesday's tax cut measure will go into effect in July, when payroll checks will get a little bigger, reflecting reduced income tax rates that were not expected to go down until 2004 and 2006. Investor earnings will also increase as a result of a cut in dividend and capital gains tax cuts.
The president recited several examples of the amount of refunds average Americans would receive. He said that in July, 25 million families will begin receiving checks of $400 per child as part of the child tax credit accelerated in the bill.
"Tax relief matters a lot to the average citizen here in America. This tax bill will make it easy for moms and dads to save for their children's education, and that is vitally important for this country," Bush said.
The president's primary objective with the tax cuts is to create jobs, which he hopes will happen when people immediately pump money back into the economy. Saying tax cuts are more important than deficits, the administration is operating under the premise that with more jobs will come more tax revenues for the government.
White House Press Secretary Ari Fleischer said that economic numbers continue to show unevenness, and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (search) will give the boost needed to increase growth. New home sales were up last month but purchases of durable goods dropped.
"We continue to see mixed signs in the economy, and this tax cut comes at a very propitious moment in terms of being able to create opportunities for jobs and growth in the economy. It's a well-timed tax cut package," Fleischer said.
But Democrats say the $330 billion tax cuts will cost the government several times more than that. They say Republican congressional members are already trying to repeal the sunset provisions on some of the cuts, which are set to expire in just three to four years, and argue the president's tax cuts won't recover the more than 2 million jobs that have been lost since Bush took office.
If the president does get a second term, he is likely to rally Congress to extend some of the bill's provisions. But Fleischer was reluctant to make that promise on this day.
"In the future, the president will, of course, provide new budgets that may have ideas in them. Generally speaking, as an overall matter, the president believes that the more permanency in the tax code, the better. But the president wants to welcome today as the day of real progress in the code," Fleischer said.
The bill also provides $20 billion to help states deal with lower revenues and to pay for Medicaid expenses.
Wednesday's ceremony follows a much less public bill signing Tuesday, when the president raised the federal debt ceiling by $984 billion to nearly $7.4 trillion, in part to compensate the increasing deficit (search), expected to pass $300 billion this year.
Earlier in the day and also without fanfare, the president signed into law a measure that extends unemployment insurance an additional six months for those still unable to find jobs who have exhausted their state benefits. Unemployed workers in Alaska, Oregon, Washington, Connecticut, Massachusetts and Pennsylvania, where unemployment is higher than the national average, will get 26 weeks.
While the president has often said he inherited a faltering economy, starting with a recession in 2001 during the first three quarters of his presidency, Democrats say that with the tax cuts, the president clearly owns the ailing economy now.
That is something Democrats hope to capitalize on during election season, as they argue the president's tax cuts will have helped only the wealthy, who benefit from capital gains and dividend cuts more than lower income taxpayers.
Republican officials dismiss those arguments as a class warfare fight that no longer works.
Fox News' Wendell Goler contributed to this report.
[Edited 1 times, lastly by theseeker on 05-28-2003] |
| |
|
|
Molliani
Joined: 16 Mar 2001
Posts: 428
Location: Illinois |
|
Thu May 29, 2003 6:40 am
|
|
|
Huge tax loophole for luxury vehicles -
order your Hummer now.
Tax bill gets proviso for big SUV break.
by Joseph Szczesny 5/26/2003
An expanded tax break for sport-utility vehicles — included in the new tax package that President George Bush will sign into law this week — has come under fire from conservationists.
The bill, which cleared the U.S. Senate Friday by one vote, includes a special provision that allows small business and professionals who have incorporated for tax purposes to deduct up to $100,000 when they purchase any vehicle weighing more than 6,000 pounds.
The weight limit excludes several popular pickup trucks and SUVs. The bill also expedites the tax savings for depreciation by allowing small businesses to write off the full cost of their vehicles in the first year of ownership.
Detroit supports
The auto industry, which had been supportive of the President's tax package, had basically favored a broader change that would have allowed more vehicles to qualify for the deduction.
The existing deduction in the current law is $25,000 and President Bush initially had proposed increasing the deduction to $75,000 but the final draft of the bill called for $100,000 deduction, much to the consternation of conservationists.
"Including in the tax cut package a four-fold increase in the already egregious tax break for some SUV purchases - particularly while a comprehensive energy bill languishes in the Senate - is a poor way to make tax or energy policy," according to the Alliance to Save Energy, of Washington, D.C.
"By supporting a new $100,000 tax deduction for small business owners who purchase gas-guzzling SUVs and Hummers, Congress is sending the harmful message that it's okay to waste oil and to rip off U.S. taxpayers," said Alliance President David M. Nemtzow.
Ronnie Kweller, spokeswoman for the Alliance to Save Energy, noted the provision was originally included in the tax bill to help farmers, craftsman and contractors. It was never intended to help sell luxury SUVs, she said.
"It seems unnecessary," added Meagan Owens of the Ann Arbor-based Public Interest Research Group in Michigan. "I have difficulty understanding the justification for it," added Owens, who noted most work-ready, heavy duty trucks and SUVs cost nowhere near $100,000.
"They're a lot more vehicles closer to the bottom end of the range than top," Owens said.
"The tax package is supposed to stimulate the economy and help small businesses afford equipment such as computers and machinery. But instead, this huge tax loophole for luxury vehicles would loot the U.S. Treasury," Nemtzow said.
Kweller added it would have made more sense to use tax credits to encourage consumers to buy fuel-efficient vehicles, she added.
Billion-dollar break
The new tax deduction could save taxpayers as much as $1 billion, according to some estimates.
Several cash-strapped states, however, have begun to enact legislation that would neutralize parts of the tax break, according to Reuters.
Oregon state Sen. Charlie Ringo said his "nullification" bill had passed two key House committees and noted that the New York and California legislatures were moving similar bills.
Meanwhile, the auto industry also is pushing for tax breaks for energy-efficient vehicle. The tax breaks would bolster the commercial viability of new technologies.
Executives from General Motors, Ford and DaimlerChrysler have said that fuel efficiency tax credits could help in stimulate demand for hybrid vehicles, which draw power from both electric motors and gasoline engines.
http://www.thecarconnection.com/index.asp?article=6055
|
| |
|
|
the professor
Joined: 10 Jan 2003
Posts: 1164
Location: heartland USA |
|
Thu May 29, 2003 7:33 am
|
|
|
Dam I should've got that hummer instead of the intrepid, dammit. |
| |
|
|
theseeker
Joined: 25 Jul 2000
Posts: 3403
Location: Damnit...I'm a doctor jim |
|
Fri Jul 04, 2003 10:43 pm
|
|
|
sure looks like the folks that MATTER the troops really like bush...
eat your heart out $#@#!....
"Since that September day," he said, "we made our own intentions clear to them: The United States will not stand by and wait for another attack or trust in the restraint and good intentions of evil men."
"We will not permit any terrorist group or outlaw regime to threaten us with weapons of mass murder," he told a cheering crowd of mostly military servicemen and women and their families. "We will act whenever necessary to protect the lives and liberty of the American people."
hear hear !
|
| |
|
|
shatoga
Joined: 23 Nov 2002
Posts: 1291
|
|
Fri Jul 04, 2003 11:00 pm
|
|
|
Your dear w is holding the hand of:
a man!
In the best Log Cabin Republican tradition.
Really cute female sitting there and Dubya behaves like Fallwell and grabs a man.
Here:
Drool on RW fags and leave us real people alone for awhile:
http://www.tonywhite.net/Goeduck.htm |
| |
|
|
Fastwalker
Joined: 26 Mar 2003
Posts: 832
|
|
Fri Jul 04, 2003 11:40 pm
|
|
|
$#@#! has indeed parted from his mind.... |
| |
|
|
shatoga
Joined: 23 Nov 2002
Posts: 1291
|
|
Sat Jul 05, 2003 3:48 am
|
|
|
FW claims the following is departing from a mind?
quote:
Originally posted by shatoga:
Your dear w is holding the hand of:
a man!
In the best Log Cabin Republican tradition.
Really cute female sitting there and Dubya behaves like Fallwell and grabs a man.
Here:
Drool on RW fags and leave us real people alone for awhile:
http://www.tonywhite.net/Goeduck.htm
http://www.lcr.org is the only gay political orginaxition with significant influence.
whatsamatta FW?
Did the link to
http://www.tonywhite.net/Goeduck.htm
get you too excited?
Predictable
>As said before, newcomers to the geoduck phenomenon cannot fail to note the creature's resemblance to the most proud of human male parts. One need hardly imagine that the men seeing this can only but dream of what they might have been… while their wives or girlfriends dream the same dreams also… perhaps even more so. <
The rest of US hav enot that hangup that you conservatives have.
We who are secure in ourselves have not those dreams Fallwell and the rest of the RW fags have.
Our sympathy.
|
| |
|
|
the professor
Joined: 10 Jan 2003
Posts: 1164
Location: heartland USA |
|
Sun Jul 06, 2003 12:54 am
|
|
|
You gotta be kidding, are those things for real? |
| |
|
|
shatoga
Joined: 23 Nov 2002
Posts: 1291
|
|
Sun Jul 06, 2003 7:15 pm
|
|
|
That's why I respect you Professor.
You actually visit links and read articles before posting a response.
Are they real?
My source (in Seattle) claims they are for real.
she is amused.
I am not impressed.
FW is too tongue swelled up to respond or too partisan to even visit a link.
If they were all like that?
Eating clams could become too disgusting to many of us.
Libbers should appreciate the 'geo-ducks' however.
Rocky mountain oysters anyone?
Good surf and turf combo for FW/imho.
I treat dates to gator tail and lobster and eat freid clams with no thought to source until those pics got e=mailed to me.
Bleech!!!
GW's 1970's pats on the arse are now suspect however.
what was he thinking.
Now: what is he/them/it thinking?
Delusional perverted
don't really want to know!
[Edited 1 times, lastly by shatoga on 07-06-2003] |
| |
|
|
theseeker
Joined: 25 Jul 2000
Posts: 3403
Location: Damnit...I'm a doctor jim |
|
Mon Jul 07, 2003 12:05 am
|
|
|
your weird $#@#! and that proves it ! |
| |
|
|
 
|
|
 Goto page Previous
1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13
All times are GMT. The time now is Sat May 26, 2012 7:34 am
|
|
|
|
|
Login
