The President has yet to lay out many specifics for his economic plan, but he has already made plenty of enemies. In a speech delivered today at an Amazon (AMZN) fulfillment center in Chattanooga, President Obama outlined a plan — billed as a "grand bargain" for the middle class — which would lay the groundwork for new, sustainable jobs.

Obama is offering what he's calling "new incentives to manufacturers," but it's largely the same corporate engineering the Republicans have rejected in the past.

His headline figure calls for a reduction of the top corporate tax rate from 35% to 28% but the President says this cut would need to be "revenue neutral." That means lowering the tax rate to 28% would require closing loopholes to cover the expense. While taking out things like deductions for corporate salaries exceeding $1million would certainly be popular they won't cover the difference.

One week after his disappointingly ambiguous economic speech at Knox College, the President is still hammering the same stump speech applause lines that were already tired last week. "Congress should pass my 'Fix-It-First' plan to put people to work immediately on our most urgent repairs, like the 100,000 bridges that are old enough to qualify for Medicare."

The line got applause at Knox College and again today, but the Republicans aren't biting. A spokesperson for Representative John Boehner had already shot down the core of Obama's "grand bargain" before the speech had even been delivered, arguing that it would leave "small businesses and American families behind."

Jeff Saut, chief investment strategist at Raymond James, says Washington is getting "less dysfunctional" than it has been in the past, but that's not good enough. There are huge sums of money sitting in overseas bank accounts just waiting to come back — it's just a matter of lowering the highest repatriation rates in the world before we see it.

"Before it's all said and done, we are going to get the repatriation of the $2+ trillion dollars that resides offshore at a lower tax rate. I just think it's a matter of time," Saut says in the attached clip. If it's going to happen eventually, bringing the money home needs to happen now.Right now the repatriation rate is 35%, among the highest in the industrialized world. To see money coming back in from overseas would require a cutting the level to something closer to 20%. The President gestured at fixing this problem in the past, most notably during the State of the Union but has yet to follow through on the idea.

There's a reason the President spoke from an Amazon fulfillment center. Yesterday Amazon announced that it would be hiring an additional 7,000 workers. With that move, the world's largest online retailer joins companies like Ford (F), Boeing (BA) and Honda (HMC) in choosing to bring middle-class jobs back to U.S. shores.

When the White House and Republicans get serious about bringing money home, it will mark the start of the revival of the middle class. Until then, we're just spinning our wheels on the Obama tour.

The only thing that Obama has done is needlessly wasted taxpayer money to campaign across the country with the same failed ideas.
There will never be a "grand bargain" as long as Obama is president.
He's incapable of actually leading.
He thinks of himself as an idea guy.
He comes up with ideas and leaves all the work to his administration.
The only thing he's really accomplished is suppressing the middle class and the economy with Obamacare which will be repealed or defunded in the end as there's no chance in hell it will ever get implemented.
Congress passed it into law without even reading what was in it just to find out what was in it.
The dumbest logic anyone could possibly have.
For that they should all lose their chairs.

Lower the tax rate for mega corporations and force small businesses to pay 40%...

Is this the same guy that embraced the occupy "movement" and used their discontent towards the top 1% vs Romney?

He has overseen the largest growth of wealth disparity in history..

This guy is nothing more than an empty suit...

lol... and the idiotic libs blame the repubs for shooting it down...
at least they see through his stupidity...

thing really gets me about this is that every time he says this stuff, the jobs wind up going to foreign companies, that bring their own workers and add to the problem... the subway in new york... Chinese... the golden gate bridge... parts were made and assembled in china, shipped here, put together by another Chinese company...

his selective targeting of the "green" manufacturing industry has been a complete and total failure that has cost us billions of dollars.

this whole ruse is just another way for him to fill his campaign donors pockets with free money from the few taxpayers that still have jobs.

it is a disgusting display of crony capitalism.

All educated folks know China produces soft steel.

global warming, damnit... the polar bears dying? the libs even made a video to stuff the global warming down our throats...
i'm still trying to figure out that "green" light bulb thing...
gets rid of the good bulbs with no mercury, and replaces them with crappier, mercury filled POS...

There are also some smart people who support the President. I don't see the incompetence you write about, and I'll be surprised if you can actually find some. In my experience, the Cons are all bluster and no substance in their complaints. Go ahead and humor me, though, and post a link to back up your claims.

Needlessly waste money? Like when Republicans spend $millions and $millions on false scandals? You'll need to explain yourself on that one.

Also, Obama isn't failing to lead. The only reason things aren't getting done is the Republican derangement in Washington. Obama bends over backwards to work with Republicans to no avail. Obamacare is a direct copy of Republican plans, because the single-payer plan the Democrats wanted in the first place died under Clinton and it was hard enough getting what we got under Obama. That was a grand bargain to get all 60 non-Republican votes in the face of the health insurance industry spending $millions on lobbyists. Since losing the super majority, Republicans in the Senate have held an unprecedented number of filibusters to stop everything they can. On Obama's election day, the Republicans held a meeting to agree to stop every effort President Obama came up with. Senator McConnell stood up in front of news cameras to state that the Republicans #1 goal was to make President Obama a one-term President. That's not an absence of the President leading. That's the absence of Republican cooperation.

Lastly, it's not that nobody read the ACA before it was passed. It was that Nancy Pelosi said we had to pass it so that people would understand what was in it. Meaning that people would like it more once they saw it in action. Lots of people read the bill before it was passed. Maybe Republicans didn't read it, because they were voting against it, anyway, but Democrats sure did. It was posted on the Internet for everybody to read if they cared. I can't help you if you hate reading.

I have to agree.
Those smart ones who help push the agenda that make them richer.

They call them the one percenters.

The rest of his supporters are trolls, white haters and the gibmedats.

and very lastly,Nancy is a Liar wherever her Skin touches her!

she was a main member of the liars club... her, barry, holder, and clinton... and holder is the only one left

seems like someone covered something up there...

The hacking of Sharyl Attkisson’s computer: It’s not clear who hacked the CBS reporter’s computer as she investigated the Benghazi scandal, but the Obama administration and its allies had both the motive and the means to do it.


this during the CIA intimidation bullying...

Yup!
Hussein is definitely an all American, mom's apple pie name.

This thread has been edited of derogatory comments
aimed at other members rather than the Topic.

Quoting those comments also gets that post deleted.

soufie
Site Moderator

So if i insulted someone on this comment, you would have to delete it?

Insulting other members is against the rules.
Egregious insults get warnings.
Warnings get you..recess.

soufie
Site Moderator