Tag Archives: Tax credit

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CONGRESS WATCH Extension of federal wind power tax credit makes sense, NewsOK.com Gas prices chase Obama on swing-state tour, Ali Weinberg, First Read/msnbc.com Congress members react to President’s speech, [VIDEO 3:52] NewsOK.com

Restore America’s Promise: More Jobs, Less Debt, Smaller Government

Team Romney – Faster growth creates the jobs and generates the incomes to fund the aspirations of American families, the opportunities of American businesses, and the priorities of America as a nation.

“The right way forward is a flatter, fairer, simpler tax system that generates the revenue we need to fund a smaller government that is restrained to its historical size,” said Romney. “My plan sends signals of stability to business leaders and investors around the world, conveys a process for accomplishing these goals, and draws on my leadership skills and real-world experience to integrate and implement a comprehensive economic policy.”

Part One: Jumpstart Pro-Growth Changes In Individual Taxation

  • Make Permanent, Across-The-Board 20 Percent Cut In Marginal Rates
  • Promote Savings And Investment For The American People
  • Abolish The Death Tax
  • Repeal The Alternative Minimum Tax (AMT)

Part Two: Make The Corporate Tax System Globally Competitive

  • Cut The Corporate Rate To 25 Percent
  • Strengthen And Make Permanent The R&D Tax Credit
  • Switch To A Territorial Tax System
  • Repeal The Corporate Alternative Minimum Tax (AMT)

Mitt Romney’s Fiscal Policy Proposals

  • Cuts Programs That America Cannot Afford
  • Sends To The States Programs That They Can Implement Better
  • Improves Efficiency And Effectiveness

Social Security: For younger generations, gradually raise the retirement age and index the growth in benefits for higher-income retirees to inflation instead of wages.

Medicare: For younger generations, create a premium support system that gives each senior the freedom to choose among competing private plans and traditional fee-for-service Medicare. more> http://is.gd/Bf4zwk

Rebuilding Manufacturing: Fixing the Dysfunctional R&D Tax Credit

BOOK REVIEW

The Practical Guide to Research and Development Tax Incentives, Author: Michael Rashkin.

By George Leopold – Rashkin argues that the R&D tax credit in its current form isn’t working. Created in 1981, the provision gives US companies a tax break on R&D expenses. Other R&D incentives include faster writeoffs of equipment and favorable tax treatment for stock option costs.

According to Rashkin, the current tax structure works like this: Government agencies like the National Science Foundation fund basic research; then tax incentives and other subsidies are used to encourage product development, often based on federally funded basic research. Rather than investing in US manufacturing of new products, Rashkin told Congress that the structure encourages US companies to “park the resulting intellectual property in tax havens.” more> http://tinyurl.com/7lhazbo