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Obamas contradictory call for US to "do better"

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Maybe you low information lefties heard bho talk about "low hanging fruit"

 

Do you know what that was??? Limiting deductions for state income taxes paid (happy NJ and NYers heh?), limiting mortgage interest deductions, and LIMITING MUNI BOND TAX FREE INTEREST.

 

See Bloomberg

Obama Proposes Limits on Tax-Breaks for Municipal-Bond Investors

 

President Barack Obama proposed curbing the amount of interest from municipal bonds that top earners can exclude from their taxable income, a step that may diminish demand for state and local-government securities.

 

The president’s $447 billion job-creation plan would pare the tax break for municipal-bond interest to 28 percent for couples earning more than $250,000 a year. Such tax-exempt interest is currently worth 35 percent for earners in the top tax bracket because that’s the amount they would otherwise have to pay on their income.

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BUT GET THIS ON FRIDAY HE CALLED......................

 

Trying to show that the economy remains a top priority, President Barack Obama promoted a plan Friday to create construction and other jobs by attracting private money to help rebuild roads, bridges and other public works projects

$4 billion in new spending on two infrastructure programs that award loans and grants.

-Higher caps on "private activity bonds" to encourage more private spending on highways and other infrastructure projects State and local governments use the bonds to attract investment. .

 

-Giving foreign pension funds tax-exempt status when selling U.S. infrastructure, property or real estate assets. U.S. pension funds are generally tax exempt in those circumstances. The administration says some international pension funds cite the tax burden as a reason for not investing in American infrastructure.

 

 

-A renewed call for a $10 billion national "infrastructure bank."

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So do you 'get it'????

 

On one hand bho goes after muni bond tax free interest.....then he demands HIGHER private activity bond limits (munis). Additionally while he demands you and I pay more taxes because it "Fair" he proposes eliminating taxes of foreign investors.

 

 

THIS IS THE MOST DISHONEST DISINGENUOUS PRESIDENT OF ALL TIME

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So do you 'get it'????

 

On one hand bho goes after muni bond tax free interest.....then he demands HIGHER private activity bond limits (munis). Additionally while he demands you and I pay more taxes because it "Fair" he proposes eliminating taxes of foreign investors.

 

 

THIS IS THE MOST DISHONEST DISINGENUOUS PRESIDENT OF ALL TIME

 

1000

 

 

Let Fairness Be Our Touchstone And Sharing Wealth Our Goal.

 

 

 

sgd. SQUEALER

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It's 1984 all over again.

 

I am just besides myself. One day he wants to chop muni deductabilty....the next day he wants more.

 

Can anyone on the left call him out for his hypocrisy????

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If municipalities issue their own bonds, then several things happen... since they cant print money, they have to be frugal enough to actually pay them back.

This means they are careful about issuing credit, and careful about spending what they borrow efficiently.

Decisions on whether to borrow or not are made locally, and covered with local work (taxes) for payback.

 

If they cant borrow (because people dont get tax breaks for lending to them) then they will have to take govt grants. The Fed gets to tax us more, and give it out as they want to

(i.e., spoils allocations instead of localities making the decisions based on economics). AND THE FEDS DONT HAVE TO PAY IT BACK since they can borrow and print...

 

localities can borrow and print, they have to borrow and pay back.

 

So its more Fed control and more redistribution... we ALL get to pay for cities via direct Fed taxes and through inflation taking our savings.

 

Barry has been very vocal about thinking the 'burbs need to pay for the cities. Social justice, doncha know.

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To tax muni's tax free income is unconstitutional in my book. Same with not allowing state taxes paid to lower Fed AGI.

 

By reducing muni's appeal, which is Obama clearly stated intention, state and local gov's will have to pay more. All those infrastructure projects bho talks about will cost more and grind to a halt.

 

BUT WAIT now he said friday he wants MORE public private investment...and higher caps on a specific muni...those for PRIVATE aka corporate, projects.

 

YOU CAN'T HAVE IT BOTH WAYS. Which is it????

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