Obama, ever the union man, in one of his most dramatic gestures to business, will propose that companies be allowed to more quickly write off 100% of their new investment in plants and equipment through 2011. And guess what, there is a proposed 50 billion dollar tax credit for the expansion of research and experimentation on roads, railways and runways. Does this sound like more union jobs to you? There is even something in there for Amtrak rail improvements. I don’t know about you but I am weary of subsiding light rail.
In addition, Mr. Obama’s plan calls for a new “National Infrastructure Bank” to make “low cost” loans for transportation projects directly from the federal government to local governments. All these great ideas were pitched at a union picnic in Milwaukee where it was well received. When I look at pictures of Obama he has begun to look like Jimmy Hoffa.
Mr. President why not make it simple for everyone? Consider meaningful tax cuts for small business (possibly everyone)? Extend the Bush tax cuts for the wealthy. Like so many Americans, who are not wealthy, their business falls in the category you are targeting and get rid of burdensome government control of business. And yes, step aside and let this country flourish again. You are not needed.