Tuesday, December 28, 2010

Mythbusting the President and the Tea Party

Myth1: President Obama is anti-business.  According to the Chamber of Commerce you would think he was Barack Hugo Chavez Obama.  Fact: In the new $858 Billion tax cut deal aka Stimulus Part Deux, the following tax breaks were included for businesses:
-        Businesses can write-off capital expenditures immediately instead of over time.  This ‘Bonus Depreciation’ benefits capital intensive companies such as utilities, automobile, heavy equipment, and freight companies.
-        A tax shield through 2011 for banks, insurance companies, and other financial firms for their foreign profits.
-        Extending the R&D tax credit through 2011
-        Increased tax rebates to Puerto Rican and Virgin Island rum producers who export to the U.S.
-        Grant extensions for the production of wind, solar, and other renewable energy solutions.
-        50% tax credit for expenses related to railroad track maintenance
-        A tax break that allows TV and film production companies to immediately write off expenses.  Porn industry is not included…so no premature expensation.
Myth 2: The New breed of Tea Party lawmakers are anti-establishment Washington outsiders who are going to return the Capitol to the days of the Founding Fathers.  Fact: these new lawmakers have got in bed with lobbyists quicker than Charlie Sheen at a brothel.  Thanks to the Washington Post for this list:
-        Marlin Stutzman (R-IN) chose energy lobbyist Tim Harris as his chief of staff.
-        Mike Pompeo (R-KS) chose Koch Industries lobbying lawyer Mark Chenowerth as his chief of staff.
-        Robert Dold (R-IL) chose coal and nuclear lobbyist Eric Burgeson as his chief of staff
-        Chip Cravaack (R-MN) chose financial lobbyist Rod Grams as his chief of staff.
-        Krisi Noem (R-SD) chose telecom lobbyist Jordon Stoick as her chief of staff.
-        Jeff Denham (R-CA) chose lobbyist Jason Larrabee as his chief of staff.
-        Pat Toomey (R-PA) chose corporate lobbyist Chris Gahan as his chief of staff.
-        Steve Pearce (R-NM) chose casino lobbyist Todd Willens as his chief of staff.
-        Charlie Bass (R-NH) chose food marketing lobbyist John Billings as his chief of staff.
-        Chris Gibson (R-NY) chose general contractors lobbyist Steve Stallmer as his chief of staff.
-        Ron Johnson (R-WI) chose corporate lobbyist Don Kent as his chief of staff.
-        Mike Lee (R-UT) chose prison and nuclear industry lobbyist Spencer Strokes as his chief of staff.
-        Rand Paul (R-KY) chose anti-union lobbyist Douglas Stafford as his chief of staff.

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