Big carrot; small stick.
Yesterday President Barack Obama proposed a huge tax benefit to business. He asked Congress to let businesses charge off 100 percent of money spent on new equipment for the next two years and to make permanent tax credits to cover research and experimentation expenses.
The two benefits add up to about $130 billion a year. Both would go straight to the bottom line of industries and other businesses and stimulate the entire economy by increasing the demand for industrial equipment and boosting the industrial research that creates new products and jobs.
Obama borrows Republican ideas to build economy
