InfoAnda - Obama retools tax credit idea for creating jobs

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Strike threat hangs over La Scala gala opening | 28 November 2008
"Lost" fans gear up for series finale | 24 May 2010
Ex-con's magazine focuses on advocacy, prison life | 25 May 2009

Feature: Lower Oil Prices Don't Mean Lower Gas Prices | 2 March 2009

Forum Views () Forum Replies ()

Read more with google mobile : Obama retools tax credit idea for creating jobs

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Africa Europe Latin America Middle East North America Obama retools tax credit idea for creating jobs By CHARLES BABINGTON and STEPHEN OHLEMACHER,Associated Press Writers - Saturday, January 30 Send IM Story Print WASHINGTON – President Barack Obama is taking another swing at offering tax credits to companies that hire new workers, a plan that drew a cool reception from Congress last month despite the nation's high unemployment rate. With polls showing that jobs are Americans' top priority, Obama cited the retooled plan in his State of the Union address, and he is to detail it Friday when he visits a small business and speaks to House Republicans meeting in Baltimore. His proposal would give companies a $5,000 tax credit for each net new worker they hire in 2010. Businesses that increase wages or hours for their existing workers in 2010 would be reimbursed for the extra Social Security payroll taxes they would pay. No company could reap more than $500,000 from the combined benefits, one of several features meant to tailor the program more to small businesses than to large corporations. Startup companies could receive half that amount. Existing companies could not close down and then reopen under a new name and receive any benefits, White House officials said. The program, which needs congressional approval, would end Dec. 31 and would cost an estimated $33 billion. Administration officials proposed funding it with money repaid to the government from the 2008-09 bank bailout program. The Social Security system would not lose any revenue under the plan, which officials described Thursday ahead of Obama's Baltimore visit. Obama first promoted the idea of a tax credit for adding workers late last year. But House Democrats omitted it from a jobs bill they passed in December because of doubts about how to make the credit work. Administration aides say the revised proposal will be less susceptible to abuse from employers trying to game the system. Companies that fire workers and then quickly replace them would not qualify for the tax breaks, officials said. Wage increases for high-income employees also would not qualify. No one pays Social Security payroll taxes on income above $106,800, so any pay increases above that level would trigger no reimbursement to the employer. Despite the House's recent rejection of a similar plan, the idea of tax credits for job creation has caught on among Senate Democrats. They plan to include such a credit in a scaled-down jobs bill to be voted on in February. The nonpartisan Congressional Budget Office recently analyzed several proposals to create jobs and improve the economy and concluded that a payroll tax credit for companies that increase payroll would be among the most effective. However, the analysis cautioned that it could be difficult to administer. Some tax experts say it is hard to prevent abuse by companies that artificially increase their payrolls. But White House officials said they believed regulators would detect such attempts in the great majority of cases. Some analysts, however, said safeguards against abuse could make the credit too cumbersome for small businesses to use. "If it's big enough to be effective, then it's big enough for businesses to try to game it," said Ben Harris, a senior research associate at the Brookings Institution, a Washington think tank. Congress enacted a similar tax credit in the 1970s and few small businesses took advantage, the CBO report said. Republicans generally embrace almost any tax cut proposal. But Obama might receive a lukewarm reception for his proposal on Friday. "From a policy perspective, it's very difficult to make it work," said House Minority Leader John Boehner, R-Ohio. Rep. Mike Pence, R-Ind., said he understands why a tax break for adding jobs would be popular. But, he said, businesses won't hire new employees until there is increased demand for their products. "These targeted tax cuts, while individually appealing, are no substitute for the kind of broad-based tax relief that will release the entrepreneurial energy of the American people," said Pence, chairman of the House Republican Conference. Recommend Send IM Story Print Related Articles Canada's top court won't force detainee's return AP - 56 minutes ago Man arrested on Amtrak train after alleged threat AP - 57 minutes ago Mine blasts rock Georgia's rebel Abkhazia - reports Reuters - 1 hour 14 minutes ago Hamas: Israel assassinated operative in Dubai AP - 1 hour 19 minutes ago Official: Terror case may happen outside Manhattan AP - 1 hour 21 minutes ago News Search Top Stories US economy surged 5.7% in fourth quarter US economy grew at 5.7% in fourth quarter Bill Gates pledges $10 bln for vaccines for poor Greek PM says austerity pain must be shared Gates pledges $10 bln for vaccines for poor More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Overweight septuagenarians live longer: study Bill Gates pledges $10 bln for vaccines for poor US new jobless claims dip Reclusive US novelist J.D. Salinger dies at 91 Bernanke wins new term as Fed chief More Most Viewed » Woman who saved Anne Frank's diary dead at 100 Scientists praise Obama as Doomsday clock reset More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 29 January 2010
Cameron: Afghan w/d only after basic security met
Motorola forecasts loss; shares plunge
US new jobless claims dip
US durable goods orders up 0.3%
France's Villepin acquitted in Sarkozy smear trial
Iran hangs two in wake of election unrest |
Key infrastructure often cyberattack target: survey
Startpage launches anonymous Web search service
Obama backs Israel, also sympathetic to Palestinians |
ICC prosecutor expects Bashir genocide charge |
Motorola forecasts loss; shares plunge
Sister: Drew Peterson's 4th wife feared for life
Obama speech fails to break health care logjam
Dad: Stepmom suspected Neb. teen was abused
Navy sued to halt training near endangered whales
Father: Man who set self on fire mentally ill
Obama starts Fla. trip with stop at Air Force base
Bangladesh executes killers of leader Mujib
Police: SC man used hostage hoax to rob bank
China says it wants to cooperate with US
Nokia, Motorola win smartphone share; outlook weighs |
Alito disparages Obama's Supreme Court criticism
Philippine government meets rebels in Malaysia
Pelosi: Health bill must pass regardless of time
Terror suspects in Malaysia from Mideast, Africa: activists
Defendant testifies he killed Kan. abortion doctor
Myanmar's Suu Kyi rejects minister's release comment: lawyer
US troops shoot and kill Afghan cleric near Kabul
Sri Lankan president hails election victory
NATO troops kill Afghan cleric, officials say
China demands EU lift arms embargo
Military plane crash kills 9 in the Philippines
China city denies renaming mountain after "Avatar"
G20 leader Lee says time for 'post-crisis agenda'
Nintendo says price cut, new games lift Wii sales
Ford halts some China production after Toyota's woes
Philippines says economy rebounding after 11-year low
Ford halts some China vehicle production
Aggressive tightening unlikely in S.Korea-adviser
Beyonce? Taylor? Lady Gaga? The AP's Grammy Picks
Toyota recalls show price of too rapid growth
Japan OKs second extra budget to spur weak economy
Noted African-American art collector dies in Ga.
Pakistan's forex reserves fall to $15.10 bln
Comcast, NBC promise to keep news, free TV
Comcast, NBC promise to keep news, free TV |
Metallica posts condolences on Va. fan found dead
Kristen Bell's rising career takes her to Rome |
Grammy nod adds leverage to Melanie Fiona's career
Cheryl Cole to support Black Eyed Peas on UK tour |
A Minute With: Joseph Gordon-Levitt at Sundance |
Taiwan to ban junk food ads on children's TV
Obama Holds Town Hall Meeting In Tampa
Visionary Chekhov lives on in modern Russia
German beer sales at 20-year low: statistics
Inmate Faces Felony Charges In "Armed" Assault
China's "Confucius" struggles against "Avatar"
Creator of hit iMussolini iPhone app sets sights on iPad
Miami Man Promises Gum Enhances Sexual Performance
NASA Confirms Endeavor Shuttle Launch Next Month
Anti-Illegal Immigration Advocates Support "Racist" Councilman
Economic Pain Of Americans Hurting Democrats Politically
Hate Crime Has Ohio College On High Alert
In Reversal, Bloomberg Questions Holding 9/11 Terror Trial In Big Apple
India adds record 19 million mobile users in December
West backs fund for Taliban as UN meets Afghan militants
Former French PM acquitted in Sarkozy smear trial
Karzai government invites Taliban to peace meeting |
Cyber spies and thugs attacking power-water plants
Bernanke wins new term as Fed chief
North Korea fires more artillery towards South |
Evictions amid winter freeze spark outrage in Russia
Critics, fans weigh in on Apple's iPad
Tony Blair braced for grilling over Iraq war
Reclusive US novelist J.D. Salinger dies at 91
Author J.D. Salinger Dies At 91
Clinton makes Haiti plea to big business
Gunmen holed-up in building in southern Afghanistan |
Iran hangs 2 for allegedly aiming to topple state
Kindle helps Amazon book strong fourth quarter
Mobs disrupt some Haiti quake food handouts |
US: Key al-Qaida leader killed in Iraq
US-TECH Summary
Israel kills top Hamas commander in Dubai: Hamas |
Ke$ha, Taylor Swift Top Billboard Hot 100 Chart
Oracle claims firm stole its intellectual property
Hamas says killed Israeli civilians by mistake
Top US lawmakers demand hacker probe
Human rights group: Hamas targeted civilians
Painful Wii price cut keeps Nintendo in the game
"Hope For Haiti Now" Album Debuts At #1 On Billboard
China still leery on U.S. sanctions push for Iran |
Chinese Woman To Undergo Plastic Surgery To Look Like Jessica Alba
Microsoft net profit soars to 6.66 billion dollars
AT&T profit rises 26 percent, plans more spending
Nokia tops earnings forecasts
Nokia tops earnings forecasts
Nepal VP to be reinstated after language fight
North Korea fires more artillery toward South
13 countries craft plan to save tigers
Google row threatens China web development: analysts
Vietnam crackdown continues as dissident on trial
Pilot considered the only ace Tuskegee Airman dies
Senate votes to impose even more sanctions on Iran
Global Weather-Celsius
Medical marijuana lab says it was raided by DEA
Oracle claims firm stole its intellectual property |
SKorea leader says he's ready to meet NKorea's Kim
Factories may close to clear air for Shanghai Expo
Bill renews Calif. ban on felons owning body armor
New China-Tibet talks prompt speculation on shift
Update: Obama Announces $8 Billion for High-Speed Trains
Parole recommended for Manson family member Davis
North Korea fires more artillery towards South
Update: Obama, Biden Announce $8 Billion Grants For High-Speed Rail Projects
Senate Votes Clears Way For Bernanke To Stay At Fed
Recluse Author J.D. Salinger Dead At 91
Nominee to lead National Guard withdraws his name
U.S. embraces Copenhagen pact, Senators rework bill
Jogging Barefoot More Beneficial To Runners
Ex-NV deputy denies taking bribes in Francis case
Japan urges Toyota to secure consumer confidence
Samsung jumps back to profit in 4th quarter
Japan output rises but deflation threatens recovery
PAKISTAN
US-ENTERTAINMENT Summary
Avatar poised for seventh box office win |
Samsung Electronics profit tops $8 billion
Gay groups urge Grammys to denounce Buju Banton
Reclusive author J.D. Salinger dies at 91 |
Attractive cast wasted in Rome |
Ugly Betty cast may not be jobless for long |
S.Korean bonds rebound; economic data in focus
Music world celebrates its big event of the year
Caligula director to make 3D porn film |
Japan consumer prices down 1.3 pct in December on year
Is calling E.T. a smart move?
Sundance: More retreads than recharging |
John Travolta a blast in routine thriller Paris |
Seoul shares down; Samsung Elec falls, KDHC jumps
Sly & Family Stone founder alleges royalties fraud
Google attack highlights 'zero-day' black market
Horror film Buried an excruciating experience |
Bad-boy drama Hesher picked up at Sundance |
Oscar-winner shines light on corrupt US politics
Jay Leno says bad guy image unfair in Conan struggle |
The mystery grows: What's in Salinger's safe?
About 48 million watch Obama's State of the Union
Sly Stone sues ex-manager for $50 million
Good ol' boys talk of life, love, a lunar eclipse
Eurozone unemployment rate hits 10%
Russia unveils top secret new fighter
Dialogue on stalled Iran atom deal goes on
UK's Blair voices defiance over Iraq war |
Oklahoma, Texas Under Blanket Of Sleet And Snow
Officer Charged With Falsely Ticketing Minorities
Blair gives evidence to Iraq war inquiry
Palestinians irate over new Jerusalem tram
Nigerian leader not obliged to transfer power: court |
Police: Teen Killed In Canal Crash Under Influence Of Marijuana
U.S.-Led Coalition Forces In Afghanistan Apologize For Killing Muslim Cleric
No deal yet on Northern Ireland devolution talks |
Mobs disrupt some Haiti quake food handouts |
Iran, IAEA say nuclear proposal still on table |
New Russian stealth fighter makes first flight |
Sri Lanka police raid losing candidate's office |
Myanmar's Suu Kyi criticizes release date remarks
Microsoft profit beats on strong Windows 7 sales |
Housing complex in China 'open to foreigners only'
Vietnam jails writer for 4 years for 'propaganda'
Hong Kong apartment building collapses, 1 killed
Amazon blows by estimates, sees strong first quarter |
Phoenix-area policeman killed at traffic stop
Obama pushes for job creation and bipartisanship
Australia: Man vs. marauding crocodile over shark
US soldier dies in Iraq; death not combat related
AP Interview: Saakashvili offers US a supply route
Samsung Elec bullish on TV, chip demand |
Malaysia charges three over church attack
Obama retools tax credit idea for creating jobs
Indonesian police arrest suspected terrorist
Lawyer: Phone scheme meant to embarrass senator
N.Korea fires artillery near border for third day
Tag sale at NYC's Tavern on the Green restaurant
Down but not out, Sri Lanka's Fonseka to run again
Afghan troops battle Taliban militants in south
Colo. bar shooting suspect ordered to stand trial
General Motors gets $409M of loans in Thailand
Japan's Fujitsu says it made first 'iPad'
Taiwan dollar ends firmer, helped by local stocks
India's central bank hikes reserve requirements
Japan's ANA in the red amid recession
Mizuho earnings improve on economic recovery
Toyota races to fix accelerator glitch
All Nippon Airways posts $391M loss in April-Dec
UBS Taiwan sees client assets up 20-30 pct this yr
South Korea Dec output jumps but seen moderating
Indonesian-made rocket hits farm in test launch
"Little Fockers" release date shifts to December
'Ava-toad': 3D Aussie cane toads take Sundance by storm
Sundance: More retreads than recharging
"Avatar" poised for seventh box office win
"Caligula" director to make 3D porn film
Bad-boy drama "Hesher" picked up at Sundance
John Travolta a blast in routine thriller "Paris"
Attractive cast wasted in "Rome"
Horror film "Buried" an excruciating experience
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01