Talking the President’s Progressive Achievements #6 Tax Credits


by Terry Gresham

What has Obama done?  What happened to HOPE? Where has he been the last couple of years? How is a nation to survive? Where is this guy taking America?  Is there anything that this President has contributed to the great institution called America? Are average citizens safe in this country? How are we to get good leadership these days?   Is Obama out to make me look bad?  What?  What?  What?  Why?  Why?  Why?

These questions and more will be discussed in an Okieprogressive segment called:  Talking the President’s Progressive Achievements.

Segment 6:  Returning Heroes and Wounded Warrior Tax Credits

On November 21, 2011, the President signed into law two new tax credits:

  • The Returning Heroes Tax Credit is a new hiring tax credit that will provide an incentive for businesses to hire unemployed veterans.
    • Short-term unemployed: A new credit of 40 percent of the first $6,000 of wages (up to $2,400) for employers who hire veterans who have been unemployed at least 4 weeks.
    • Long-term unemployed: A new credit of 40 percent of the first $14,000 of wages (up to $5,600) for employers who hire veterans who have been unemployed longer than 6 months.
  • The Wounded Warrior Tax Credit will double the existing tax credit for long-term unemployed veterans with service-connected disabilities.
    • Maintain the existing Work Opportunity Tax Credit for veterans with service-connected disabilities (currently the maximum is $4,800).
    • A new credit of 40 percent of the first $24,000 of wages (up to $9,600) for firms that hire veterans with service-connected disabilities who have been unemployed longer than 6 months. – Paradigm Partners

If one remembers much from our nation’s history, I hope the thought comes back to this, when we passed the GI Bill in 1944, it turned out to be an extremely wise economic investment. More veterans going to college meant more white collar jobs. And with more people wielding money, prosperity resulted in.millions of new homes built, lots of babies born, lots of schools created, and lots of lift in the economy. From 1946 into the 1960s, the US was the strongest money country in the world. Prosperity led to the creation of the largest middle class we had ever seen. All this from just one little wrist and ink action of President Roosevelt.

(As an aside,some say today’s middle class is shrinking due to 30 some odd years of neo-liberal economic troubles. Let’s hope this does not continue)

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This is not the GI Bill of 1944, it’s a bit different. Yet today, granting tax credits to business is brilliant in that it helps business grow while creating incentive for hiring– Brilliant! This type of creative tax credits should get hardy rounds of applause from all.  This is one Brilliant President.
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“TheReturning Heroes Tax Credit provides businesses that hire unemployed veterans with a maximum credit of $5,600 per veteran, and the Wounded Warriors Tax Credit offers businesses that hire veterans with service-connected disabilities with a maximum credit of $9,600 per veteran.

These tax credits were included in the American Jobs Act and were signed into law by President Obama on November 21, 2011″.- White House blog

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I don’t know about anybody else but I’m mad as hell. In the last couple of years here in Oklahoma, I haven’t done for my country anything matching this Returning Heroes and Wounded Warrior Tax Credits.

 

Damn  that Obama!  Curses!  In comparison, I ain’t done squat.

Well, that concludes this installment of …

Talking the President’s Progressive Achievements.

Tune in next time to take a look at President Obama’s:

  • Consumer Financial Protection Bureau
  • Ending U.S. combat operations in Iraq
  • Repaired relations with allies
  • Results on Environmental Policy
  • Leveling the playing field for workers
  • Landmark Wall Street reforms
  • Innovation and reform in public education
  • LGBT Equality
  • Equality for women
  • Fighting for working families
  • Health insurance for 32 million
  • Cutting health costs for small business
  • Regulating big tobacco
  • Ending Bush torture policies
  • Nuclear arms reduction
  • Ordering closure of CIA detention facilities
  • Getting a seat on UN Civil Rights Council
  • Doubling fuel efficiency standards
  • and more

Night Y’all,

Terry Gresham

See also:

Talking the President’s Progressive Achievements #1  Wall Street Reform

Talking the President’s Progressive Achievements #2  Credit Card Reform

Talking the President’s Progressive Achievements #3  Wall Street Reform

Talking the President’s Progressive Achievements #4  Women’s Equality

Talking the President’s Progressive Achievements #5  Torture Policies

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One Response to Talking the President’s Progressive Achievements #6 Tax Credits

  1. Jueseppi B. says:

    Reblogged this on The ObamaCrat.Com™ and commented:
    Number 6 in the powerful series by “The Okieprogressive’s Mr. Terry Gresham: Segment 6: Returning Heroes and Wounded Warrior Tax Credits.

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