Section 101 - Temporary Tax Cut for Employees, Employers and Self-Employed
This is the section that extends the reduction in FICA taxes from payroll deductions. This is the money for Social Security and Medicare.
There are tax credits expiring and it is costing jobs. Example and to no surprise ALTERNATIVE ENERGY is taking a hit. Why is the GOP dragging their heels? GUESS! Could it be because of the petroleum industry lobbyists?
This is what the GOP is up to when they filibuster and stand in opposition to legislation that creates jobs, supports small businesses and alternative fuels. They are protecting their cronies interests and it has absolutely nothing to with the budget or the national debt.
So, if anyone wants to understand why the jobs numbers are lagging it is because of Secretary Boner and his band of bandits. They talk a good story, but, they are standing up for their cronies. Boner and the Congress of 2010 ran on creating jobs and they haven't improved anything, they have made it worse!
Section 102 - Temporary Tax Credit for Increased Payroll
This would have a really nice reduction for employers. They received nearly an zero tax liability after a certain amount and it would have been replaced in the USA Treasury with reductions in the budget and deposit into this fund under section 3111(a) of the IRS tax code. This would have increased the case flow for every business. Their liability to pay this tax would have been wiped out for the period of time this bill provided. Oh, well. Businesses could have increased their cash on hand, bought needed equipment or replacements or minor needed repairs not required for safety and modernized their facilities and their work force.
That was under subtitle A of the bill entitled "Payroll Tax Relief" and the next section was subtitle B "Other Relief for Businesses."
Section 111 - Extension of Temporary 100 percent bonus depreciation for Certain Business Assets
This was an attempt to accelerate depreciation rates. In other words it amended the usual depreciation rates for investment and gave them more to depreciate which would provide tax relief for many small businesses. The can take depreciation off their taxes. It extended that capacity which was part of the Recovery Act. This is good thing, it helps bring down tax liability for business and allows them breathing room for improving same things as above, including adding employees to expand their production capacity and increase their market share.
Section 112 - Surety Bonds
This section was to increase the amount of Surety Bonds a small business was allowed to carry. It increased it from $5 million from $2 million so a business that was ready for a bigger market could get bonds to allow them to move into other areas, hence, expanding their capacity and their profits and increase employees. This is particularly important for the construction industry. Surety Bonds are required for construction projects. I am confident everyone has seen the commercials regarding bonds for the work on the Panama Canal, well this is the same thing. This is a smaller business than is employed at the canal, but, it is necessary to have the capacity to move in that direction to bid on contracts, purchase necessary equipment, hire more people and take on greater profits. This was for the hometown industries in the USA.
I really loved this bill. Obama wrote this. It was his ideas and focus. Put AMERICANS back to work. He meant it, this bill would have brought down a lot of barriers and definitely lowered the unemployment rate. Yep.
Section 113 - Delay in Application of Withholding on Government Contractors
This dealt with Charitable Organizations under the Section 511 of the IRS Code. It would have extended the expiration tax breaks in the Recovery Act from December 31, 2011 to December 31, 2013.
Let's end it here and I'll pick up with Title II of this bill "Putting Workers Back on the Job while Rebuilding and Modernizing America"
Remember I said the government infrastructure tends to be aged rather than modern. Well, this was an attempt to modernize and update infrastructure. I don't remember whether it was just government infrastructure, but, tomorrow then.
This is the section that extends the reduction in FICA taxes from payroll deductions. This is the money for Social Security and Medicare.
There are tax credits expiring and it is costing jobs. Example and to no surprise ALTERNATIVE ENERGY is taking a hit. Why is the GOP dragging their heels? GUESS! Could it be because of the petroleum industry lobbyists?
This is what the GOP is up to when they filibuster and stand in opposition to legislation that creates jobs, supports small businesses and alternative fuels. They are protecting their cronies interests and it has absolutely nothing to with the budget or the national debt.
By ,
“The issue is, the longer you wait the more critical this tax becomes,” (click here) said Jan Blittersdorf president of Vermont-based NRG Systems, a 25-year old company that manufactures goods for the industry. “This is really serious. This is the first time in 30 years we’ve had to do layoffs and once you start to dismantle this system it’s hard to put it back together.”So, if anyone wants to understand why the jobs numbers are lagging it is because of Secretary Boner and his band of bandits. They talk a good story, but, they are standing up for their cronies. Boner and the Congress of 2010 ran on creating jobs and they haven't improved anything, they have made it worse!
Section 102 - Temporary Tax Credit for Increased Payroll
This would have a really nice reduction for employers. They received nearly an zero tax liability after a certain amount and it would have been replaced in the USA Treasury with reductions in the budget and deposit into this fund under section 3111(a) of the IRS tax code. This would have increased the case flow for every business. Their liability to pay this tax would have been wiped out for the period of time this bill provided. Oh, well. Businesses could have increased their cash on hand, bought needed equipment or replacements or minor needed repairs not required for safety and modernized their facilities and their work force.
That was under subtitle A of the bill entitled "Payroll Tax Relief" and the next section was subtitle B "Other Relief for Businesses."
Section 111 - Extension of Temporary 100 percent bonus depreciation for Certain Business Assets
This was an attempt to accelerate depreciation rates. In other words it amended the usual depreciation rates for investment and gave them more to depreciate which would provide tax relief for many small businesses. The can take depreciation off their taxes. It extended that capacity which was part of the Recovery Act. This is good thing, it helps bring down tax liability for business and allows them breathing room for improving same things as above, including adding employees to expand their production capacity and increase their market share.
Section 112 - Surety Bonds
This section was to increase the amount of Surety Bonds a small business was allowed to carry. It increased it from $5 million from $2 million so a business that was ready for a bigger market could get bonds to allow them to move into other areas, hence, expanding their capacity and their profits and increase employees. This is particularly important for the construction industry. Surety Bonds are required for construction projects. I am confident everyone has seen the commercials regarding bonds for the work on the Panama Canal, well this is the same thing. This is a smaller business than is employed at the canal, but, it is necessary to have the capacity to move in that direction to bid on contracts, purchase necessary equipment, hire more people and take on greater profits. This was for the hometown industries in the USA.
I really loved this bill. Obama wrote this. It was his ideas and focus. Put AMERICANS back to work. He meant it, this bill would have brought down a lot of barriers and definitely lowered the unemployment rate. Yep.
Section 113 - Delay in Application of Withholding on Government Contractors
This dealt with Charitable Organizations under the Section 511 of the IRS Code. It would have extended the expiration tax breaks in the Recovery Act from December 31, 2011 to December 31, 2013.
Let's end it here and I'll pick up with Title II of this bill "Putting Workers Back on the Job while Rebuilding and Modernizing America"
Remember I said the government infrastructure tends to be aged rather than modern. Well, this was an attempt to modernize and update infrastructure. I don't remember whether it was just government infrastructure, but, tomorrow then.
