TranceAddict Forums (www.tranceaddict.com/forums)
- USA - West Coast / Las Vegas
-- How Obama's budget proposal affects California
Pages (2): [1] 2 »

How Obama's budget proposal affects California

quote:

How Obama's budget proposal affects California (02-27) 04:00 PST Washington - -- California will see a sweeping commitment to addressing climate change, a huge tax hit for its wealthiest taxpayers and a major benefit to Silicon Valley's tech industry in President Obama's first budget proposal. As in all presidents' budget plans, there are winners and losers. California college students could benefit from a proposal to tie increases in Pell Grants to inflation for the first time in the program's history. University of California President Mark Yudof said the plan could raise the maximum Pell Grant, intended to foster educational opportunity, by $200 next year, yielding an extra $10 million in aid for UC undergraduates. He said Obama's budget also would help students and their parents with an expanded $2,500 tax credit for college expenses. The plan "will help ease the economic burden for many students and families in California and across the nation," Yudof said. California's plans for a high-speed rail system could take another leap forward with Obama's pledge to add $5 billion for nationwide super-fast rail programs over five years on top of the $8 billion approved in the stimulus package. The state could get a big share because voters have approved $10 billion in state bonds for bullet trains between San Francisco and Los Angeles and from the Central Valley to the East Bay. Losers in Obama's budget include large-scale California farm operations. Farmers making more than $500,000 a year could face deep cuts in subsidies for rice, cotton and other commodity crops, part of Obama's effort to direct aid to smaller farms. The budget plan, totaling $3.55 trillion for 2010, represents the most detailed blueprint yet of Obama's priorities for the country. And for the most part, his budget implements the agenda that he ran on during last year's campaign. His tax proposal amounts to a reversal of President George W. Bush's policies: Obama's budget would allow the Bush tax cuts for the nation's wealthiest 2 percent to expire in 2011. Couples earning more than $250,000 a year would see their tax rate rise from 36 percent to 39.6 percent. Wealthy tax filers would also face new limits on what they can deduct for mortgage interest, state and local taxes, and charitable donations - which could limit giving to nonprofits. Hedge fund managers and oil and gas firms would see major tax increases. The top capital gains tax rate climbs from 15 percent to 20 percent. Tilting the system Obama would tilt the tax system in favor of lower-paid workers, extending the payroll tax cuts approved in the stimulus bill - $400 for individuals making less than $75,000 a year and $800 for couples earning less than $150,000. Obama's budget also includes a provision dear to Silicon Valley: a proposed 10-year, $74 billion extension of the research and development tax credit. Tech companies say the credit gives them incentives to spend billions on research, creating jobs and motivating new technologies. Betsy Mullins, vice president for government and political affairs at TechNet, a trade group of tech CEOs, said she was also enthused about the president's proposal to triple the number of graduate student fellowships. "Think of all the things that have been done by graduate students - from Google to the work Marc Andreessen (founder of Netscape) did as a graduate student," Mullins said. Obama's budget also makes a firm commitment to fighting global warming, setting the goal of cutting greenhouse gas emissions by 14 percent below 2005 levels by 2020 and 83 percent below by 2050. The president's plan is modeled on California's cap-and-trade program, capping emission levels and allowing power plants and other emitters to buy and sell credits to release carbon dioxide. Obama is counting on revenue, estimated at $645.7 billion over a decade, to fund investments in renewable energy and other programs. Critics call it a tax on energy firms, which could pass the added costs on to consumers. House Minority Leader John Boehner, R-Ohio said, "Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch." But California Gov. Arnold Schwarzenegger praised the proposal, saying it would spur economic growth by fostering the development of clean energy technologies. "In California, we know that the environment and the economy go hand in hand," he said. ... full read at: http://www.sfgate.com/cgi-bin/artic.../MN19165PCL.DTL

-rolling back bush tax breaks for the wealthiest 2% of america
-raising capital gains tax percentage for the highest bracket
-higher taxes for hedge fund managers and the oil & gas industry
-closing tax deduction loopholes
-cutting farm subsidies for large corporate farms
-promoting agricultural export market
-more federal funds to back california's high-speed rail
-tax incentive for technology reseach & development
-triple funding for state & federal epa/water treatment infrastructure
-more aggressive national carbon-cutting goals
-carbon-trading market to fund clean energy development
-funding graduate-level education
-expanding va health care access to non-disabled veterans

and this doesn't even mention his other seismic shifts in policy such as rescinding bush's anti-abortion rule, red-lighting the war on weed, setting a deadline for withdrawal from iraq, mending us-russia relations as well as us-iran relations, retaking leadership of nato, rethinking the cuban embargo, etc...

i thought only bad news was printed on fridays? this paradigm shift has me all disoriented

inb4 the rich republicans start crying bloody murder.

Drastic change like this is needed.

rich republicans don't whine on the internet, their kids do

I meant in general like all over the media and in public.

I bet this gives Rush more heat to spew over the AM radio airwaves. The idiot has been blasting Obama like if he is the reason why we are in this mess, yet he never said one bard word about Bush.

Rich republicans are screaming their heads off about this, and the best part is, there isn't much they can do.

More people are for this than against.

And it will only get better.

With a Democratic house and senate Obama will get A LOT done with not many speed bumps on the way.

Just as long as banks dont get nationalized even for a little while.

quote:

Originally posted by element-y Just as long as banks dont get nationalized even for a little while.

Why? so the thieves, sorry, CEO's can waste billions of more tax payer dollars on private jets and company getaways?

Neato.

Nationalization may not be needed.. But the President Nate Dogg & Warren G gotta regulate..

My taxes are going up.

quote:

Originally posted by starboy Why? so the thieves, sorry, CEO's can waste billions of more tax payer dollars on private jets and company getaways? Neato.

I'm of the same opinion and being from the UK, I don't have the fear of god about so called "socialist" policies but there is a strong argument against nationalizing them: when they are in profit, they are private and when they loose money, they are nationalized. Basically, it's like privatizing gains (so individuals make money), and nationalizing losses (so the average tax payer is used to cover losses).

The point should be that of they are to nationalize them, it should be for good - the idea of nationalizing something for a short period (i.e. the period when they are not turning a profit) is the absolute worst thing they could do.

If you're going to nationalize banks then that's fine - the huge advantage is the government will be able to control how much these wankers get paid, and when the economy does turn around, the government will make a profit from the banks assets and customer, which would result in less pressure on the average person to pay higher taxes.

The only way they should ever be made private again is to be sold when they are profit making for a huge profit to benefit the usa.

*raises hand*

I'd like to point out that both the repubilca and democrat peeps on this board are whiners and need to shut the fuck up!

Tehre, I said it. Let's get this board back on topic....TRANCE (and other genres)

All I know is that I'm getting another raise in June and should round out to about .55 cent a minute...lol...bless the oil industry!

As for taxes, plenty write offs and so I usually get it back in the tax return!

But yeah, back to the topic... Above and Beyond, EDC, and much more this year...whooooohoooo!

quote:

Originally posted by Nerologic And it will only get better. With a Democratic house and senate Obama will get A LOT done with not many speed bumps on the way.

And a lot you mean is recklessly spending TRILLIONS on wealth that has yet to be created and earned. The math doesn't add up and if you think the top %5 will stand for this, well you're simply and ignorantly just don't know or get it.

Oh, but then Obama can just print and print away. I know all you libtards will cheerlead Obama no matter how bad he is (on the verge of being the worst ever in just 2 months) but it's ok to be intellectually honest. That is unless you're incapable of it. Wait. You're all libtards. Nevermind.

has TASD ever posted anything with regards to EDM?

quote:

Originally posted by T.A.S.D. And a lot you mean is recklessly spending TRILLIONS on wealth that has yet to be created and earned. The math doesn't add up and if you think the top %5 will stand for this, well you're simply and ignorantly just don't know or get it. Oh, but then Obama can just print and print away. I know all you libtards will cheerlead Obama no matter how bad he is (on the verge of being the worst ever in just 2 months) but it's ok to be intellectually honest. That is unless you're incapable of it. Wait. You're all libtards. Nevermind.

It's funny how people put all of this disaster on a man thats been in office for what.... 38 days...lol

Honestly, does anyone have the answer to this?? You can defend both sides or any other party, but again, does anyone have a good solution to this?

Most of the comments here are just a repeat of what some suit on CNN or MSNBC just said this morning. All we can do is just hope for the best, ride this out!! Everyone is flipping out and thinking if Mccain was in office.... everything would be a freaking Utopia.

Well Mccain is just one man, and in simple terms he would most likely make the same decisions as our last president taking that he would have the decision making of Republican advisors and the backing of the Republicans across the governing body. It's almost predictable of what to expect and people just want something different!!

Not by any means trying to ridicule or offend anyone, but I'm not sure if people are speaking their opinions or just dictating their favorite news channel.

In reality, are many you effected by this?? Do you see any drastic changes in your everyday life? Aside from paying taxes, going to the dentist, and maaaybe a visit to the docter once a year. I really dont see the life altering effects.

Okay, let hear the feedback... this should be interesting...lol!

quote:

Originally posted by bigperf has TASD ever posted anything with regards to EDM?

Richard Vission was on point last nite. Missing this year's WMC b/c I'll be in Europe for 2 months, leaving for LAX shortly. Planning another return trip to Ibiza this summer with the gang. Something about Eddie Halliwell at Cream and Sander Van Doorn at Eden that is too much fun.. There.

quote:

Originally posted by epic007 It's funny how people put all of this disaster on a man thats been in office for what.... 38 days...lol Honestly, does anyone have the answer to this?? You can defend both sides or any other party, but again, does anyone have a good solution to this? Most of the comments here are just a repeat of what some suit on CNN or MSNBC just said this morning. All we can do is just hope for the best, ride this out!! Everyone is flipping out and thinking if Mccain was in office.... everything would be a freaking Utopia. Well Mccain is just one man, and in simple terms he would most likely make the same decisions as our last president taking that he would have the decision making of Republican advisors and the backing of the Republicans across the governing body. It's almost predictable of what to expect and people just want something different!! Not by any means trying to ridicule or offend anyone, but I'm not sure if people are speaking their opinions or just dictating their favorite news channel. In reality, are many you effected by this?? Do you see any drastic changes in your everyday life? Aside from paying taxes, going to the dentist, and maaaybe a visit to the docter once a year. I really dont see the life altering effects. Okay, let hear the feedback... this should be interesting...lol!

wake up

quote:

Originally posted by bigperf has TASD ever posted anything with regards to EDM?

Not till this thread.

quote:

Originally posted by T.A.S.D. Richard Vission was on point last nite. Missing this year's WMC b/c I'll be in Europe for 2 months, leaving for LAX shortly. Planning another return trip to Ibiza this summer with the gang. Something about Eddie Halliwell at Cream and Sander Van Doorn at Eden that is too much fun.. There.

No waaayyy man TECHNO, keep going, name dropping pwns!!11 DARUDE - SANDSTORM!!!!

quote:

Originally posted by element-y Just as long as banks dont get nationalized even for a little while.

the banks that have bought into the rescue are already undergoing incremental nationalization under the bailout's revised controls. for some banks the need for a majority-stake capital infusion is only a matter of months away. citi is already converting its injection into 40% government equity. if it turns out they need more money, the taxpayer would become a majority non-voting shareholder without nationalization. obama obviously doesn't want it to come to that, but the scale and scope of this crisis spells inevitability. being that as it may, it's better to talk about nationalization frankly because this whole dancing around the idea is creating uncertainty that raises borrowing costs, crashes stock prices and freezes the loan markets. and if taxpayers end up taking a majority stake in these banks, we should at least have the power to break up and sell off dog businesses and fire bad managers. bureaucratic management is not anyone's favorite option, but even free-market economists agree it's the best thing to do with completely insolvent banks.

quote:

Originally posted by bigperf has TASD ever posted anything with regards to EDM?

well there was tao 2006 roll call where he revealed he's 38-42 years old and still 'trance and roll's...

http://www.tranceaddict.com/forums/...452#post7161452

quote:

Originally posted by T.A.S.D. There are 14 in our group, aged 35-38 years old. We're trancing out with you young ones in favor of CL, DD, and PVD! Despite Giant's outstanding lineup, who wants to be squished like sardines. I heard last time, people were pissing in water bottles b/c they couldn't get into a restroom. Trance and roll!

verbose neocon mouthpiece by day, cracked-out washer by night

^lulz

quote:

Originally posted by R!CH well there was tao 2006 roll call where he revealed he's 38-42 years old and still 'trance and roll's... http://www.tranceaddict.com/forums/...452#post7161452 verbose neocon mouthpiece by day, cracked-out washer by night

Multilulz....called out

Powered by: vBulletin
Copyright © 2000-2021, Jelsoft Enterprises Ltd.