Obama's Plan to Generate Job Growth

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

July 30 (Bloomberg) -- American Enterprise Institute Visiting Fellow Timothy Carney discusses President Barack Obama's economic plans with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Part of the proposal announced today by the president would cut corporate tax rates from $.28 to 38%. if the plan lowers the corporate rate and does not add to the deficit, could that be a starting point for compromise?

Corporate tax reform has been what a lot of republicans have been falling for -- calling for and you heard it.

Leaders want to do this.

If he is talking about lower rate and eliminating loopholes , that is the starting five for discussion.

When president obama's week, he goes ahead and does he also wants incentives for bringing jobs home and green energy.

The talk of eliminating loopholes might run against harsh realities when different parties are defending different loopholes.

If the prospects are slim, why not split for individual rights and focus on an area where there and actually be some agreement between democrats and republicans to request that is what you are seeing.

The president is moving away from the more contentious things.

There is no mention of talking about entitlement and medicare and social security.

It used to be part of a grand bargain.

Individual reform is a trickier thing.

Corporate forms should be used year and that is why he's moving towards it.

In washington today, -- the presence of the revenue gained from reforming the corporate tax code.

When corporate taxes were cut during the administration and george w. bush, the criticism was that the money was found -- used to pay dividends to shareholders.

Where should that be invested?

President sees if you change the way depreciation works, recruit creation of earnings, it would be a one time bomb in new federal revenue.

In the long run, it might be a tax cut for businesses.

That is what he wants to use to pour back into spending.

He mentioned infrastructure that we wonder what else he was spent on if there were a bump.

If there will be a short-term uptick in federal revenue, there will be a lot of people fighting over pieces of that.

Is it time to revisit the discussion of infrastructure bank to put americans back to work, to rebuild the nation's roads and schools.

I do not think it usually makes things better.

Congress gets a lot of pay for earmarks.

Setting up a government body that hands out loans and loan guarantees and structure, that leaves towards the kind of thing that sets up dealing and move the decision process always run it.

I would not see that as a plus.

Some republicans would be open to that, even if barack obama is the one proposing it.

The plan is similar to one proposed in 2011 by the current chair of the house ways and means committee.

His draft requires the company to pay on all offshore funds regardless whether the funds are home.

Class the idea of moving toward a territorial is where most republicans are now.

Right now, we are one of the only countries that taxes american companies on foreign earnings.

The main thrust in the conservative and free-market views is we ought to move toward a system where u.s. businesses will not be taxed or earnings they are making overseas.

Anything short of that, we will have a hard time getting elkins excited about it.

Should american businesses have to pay any corporate taxes?

What is the reasonable amount?

The corporate tax code, i see as being a huge problem.

It is hard to it is.

Contrary to what mitt romney said, operations are not people and do not get to enjoy the money.

I would abolish the corporate tax code is a huge some cost.

The companies are not using the money to create value.

They are trying to seek value and not have to.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change